Flutter Entertainment (FLUT) Research & Development (2023 - 2026)
Flutter Entertainment's (FLUT) quarterly Research & Development came in at $966.0 million in Q1 2026, up 349.3% YoY from $215.0 million in Q1 2025, and down 67.05% on a QoQ basis from $2.9 billion in Q4 2025.
Flutter Entertainment (FLUT) Research & Development (2023 - 2026) Analysis & Trends
Flutter Entertainment (FLUT) has 4 years of Research & Development data on file, last reported at $966.0 million in Q1 2026.
- Quarterly Research & Development rose 349.3% year-over-year to $966.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.4 billion (up 121.01% YoY) and the FY2025 annual result came in at $3.7 billion, up 14.76% from the prior year.
- Research & Development retreated to $966.0 million in Q1 2026, from $2.9 billion in the prior quarter.
- In the past five years, Research & Development ranged from a high of $3.2 billion in Q4 2023 to a low of $176.0 million in Q2 2023.
- A 4-year average of $908.0 million and a median of $746.0 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2025 — Research & Development sank 75.6% — and 2026, when it jumped 349.3%.
- Tracing FLUT's Research & Development over 4 years: stood at $3.2 billion in 2023, then tumbled by 74.21% to $830.0 million in 2024, then jumped by 253.25% to $2.9 billion in 2025, then tumbled by 67.05% to $966.0 million in 2026.
- The last three Research & Development figures came in at $966.0 million (Q1 2026), $2.9 billion (Q4 2025), and $275.0 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.48 Bn | 15.91 Bn | 1.71 Bn | 1.01 Bn |
| 2 | DraftKings | 12.42 Bn | 11.42 Bn | 551.45 Mn | 322.54 Mn |
| 3 | Super Group (SGHC) | 6.68 Bn | 6.26 Bn | - | -422.00 Mn |
| 4 | Churchill Downs | 6.51 Bn | 6.31 Bn | 712.00 Mn | - |
| 5 | Rush Street Interactive | 2.83 Bn | 2.49 Bn | 139.66 Mn | - |
| 6 | Brightstar Lottery | 2.15 Bn | 877.09 Mn | 297.00 Mn | 14.00 Mn |
| 7 | Accel Entertainment | 993.49 Mn | 738.04 Mn | 115.51 Mn | - |
| 8 | Codere Online Luxembourg | 416.60 Mn | 347.18 Mn | - | - |
| 9 | Inspired Entertainment | 170.71 Mn | 146.31 Mn | 52.10 Mn | - |
| 10 | Grandstand | 71.71 Mn | 62.91 Mn | 31.83 Mn | -16.14 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.01 Bn |
| Mar 31, 2026 | 966.00 Mn |
| Dec 31, 2025 | 2.93 Bn |
| Sep 30, 2025 | 275.00 Mn |
| Jun 30, 2025 | 256.00 Mn |
| Mar 31, 2025 | 215.00 Mn |
| Dec 31, 2024 | 830.00 Mn |
| Sep 30, 2024 | 213.00 Mn |
| Jun 30, 2024 | 746.00 Mn |
| Mar 31, 2024 | 881.00 Mn |
| Dec 31, 2023 | 3.22 Bn |
| Sep 30, 2023 | 214.00 Mn |
| Jun 30, 2023 | 176.00 Mn |
| Mar 31, 2023 | 882.00 Mn |