What is Flutter Entertainment's R&D?

Flutter Entertainment (FLUT) reported R&D of $259M in Q1 2026.

How has Flutter Entertainment's R&D changed year-over-year?

Flutter Entertainment's R&D increased by 20.5% year-over-year, from $215M to $259M.

What is the long-term trend for Flutter Entertainment's R&D?

Over 3 years (2022 to 2025), Flutter Entertainment's R&D has grown at a 21.5% compound annual growth rate (CAGR), from $552M to $991M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Flutter Entertainment FLUT R&D

R&D at other companies

Las Vegas SandsLVS

$43M-37.7%

PlaystudiosMYPS

$14.72M+7.7%

Ziff DavisZD

$13.64M-2.0%

Segments

By segment

See full

International$120M+26.3%

U.S.$89M+8.5%

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

See full

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

See full

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$17.56B-67.4%

Enterprise value$28.75B-54.3%

P/S1×-2.6×

Profitability

See full

Gross margin44.2%-3.3pp

Operating margin-0.6%-7.4pp

Net margin-3.2%-7.9pp

FCF margin7.1%-2.0pp

Returns & leverage

See full

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:ResearchAndDevelopmentExpense.

The official record: Flutter Entertainment’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Flutter Entertainment's R&D?: Flutter Entertainment (FLUT) reported R&D of $259M in Q1 2026.
How has Flutter Entertainment's R&D changed year-over-year?: Flutter Entertainment's R&D increased by 20.5% year-over-year, from $215M to $259M.
What is the long-term trend for Flutter Entertainment's R&D?: Over 3 years (2022 to 2025), Flutter Entertainment's R&D has grown at a 21.5% compound annual growth rate (CAGR), from $552M to $991M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.