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Flutter Entertainment FLUT Financing related fees not eligible for capitalization

Discontinued — last reported Q4 '25

Financing related fees not eligible for capitalization at other companies

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$1.9M+138%
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Lennox InternationalLII
$575K

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$17.66B-54.6%
Enterprise value$28.85B-35.9%
P/S-1.7×

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 flut:GainLossFinancingRelatedFeesNotEligibleForCapitalization.

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 financing related fees not eligible for capitalization?
Flutter Entertainment (FLUT) reported financing related fees not eligible for capitalization of -$4M in Q4 2025.
How has Flutter Entertainment's financing related fees not eligible for capitalization changed year-over-year?
Flutter Entertainment's financing related fees not eligible for capitalization increased by 50.0% year-over-year, from -$8M to -$4M.
What is the long-term trend for Flutter Entertainment's financing related fees not eligible for capitalization?
Over 3 years (2022 to 2025), Flutter Entertainment's financing related fees not eligible for capitalization has grown at a -8.0% compound annual growth rate (CAGR), from -$9M to -$7M.
What does financing related fees not eligible for capitalization mean?
Immediate expenses for financing activities that cannot be spread over the life of the debt.
How do you interpret financing related fees not eligible for capitalization?
High levels indicate frequent or complex debt restructuring and financing activities that may impact short-term profitability.
How does financing related fees not eligible for capitalization compare across companies?
Standard accounting treatment for non-capitalizable transaction costs; varies by the frequency of debt market activity.