What is Flutter Entertainment's U.S. — goodwill?

Flutter Entertainment (FLUT) reported U.S. — goodwill of $826M in Q4 2025.

What does U.S. — goodwill mean?

The carrying value of goodwill associated with the U.S. segment, representing the premium paid for acquisitions in excess of the fair value of net identifiable assets. This reflects the historical cost of building the U.S. business through M&A.

Flutter Entertainment FLUT U.S. — Goodwill

Other segment segments

International

$15B+19.7%

Similar metrics at other companies

PPCU.S. — Goodwill

$41.94M0.0%

ANGIU.S. — Goodwill

$812.33M0.0%

RLGTUS — Goodwill

$101.45M—

AMCUS — Goodwill

$1.8B0.0%

VSTSUnited States — Goodwill

$896.24M0.0%

KOREUnited States — Goodwill

$116.64M0.0%

Other financials

Income statement

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Revenue$4.3B+17.4%

Gross profit$1.8B+7.5%

Operating income$79.0M-64.6%

Net income$209.0M-37.6%

EPS (diluted)$1.23-21.7%

Balance sheet

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Cash & equivalents$1.5B-1.6%

Total debt$12.7B+69.8%

Total equity$9.1B-8.1%

Total assets$28.5B+14.7%

Cash flow

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Operating cash flow$330.0M+75.5%

CapEx$25.0M+31.6%

Free cash flow$305.0M+80.5%

Valuation

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Market cap$19.08B-62.6%

Enterprise value$30.27B-49.6%

P/S1.1×-2.3×

Profitability

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Gross margin44.2%-3.3pp

Operating margin-0.6%-7.4pp

Net margin-3.2%-7.9pp

FCF margin7.1%-2.0pp

Returns & leverage

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Return on equity-5.7%-12.7pp

Debt / equity1.4×+0.6×

Current ratio0.9×0.0×

Where this comes from

Reported directly by Flutter Entertainment in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: Flutter Entertainment’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Flutter Entertainment's U.S. — goodwill?: Flutter Entertainment (FLUT) reported U.S. — goodwill of $826M in Q4 2025.
What does U.S. — goodwill mean?: The carrying value of goodwill associated with the U.S. segment, representing the premium paid for acquisitions in excess of the fair value of net identifiable assets. This reflects the historical cost of building the U.S. business through M&A.