Flutter Entertainment FLUT Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| International | $9.96B+5.8% | $9.42B+4.6% | $9B+5.0% | $8.57B+3.8% | $8.26B+0.1% | |
| U.S. | $6.83B+0.9% | $6.77B+7.5% | $6.3B+1.5% | $6.2B+4.1% | $5.96B+4.0% | |
| Reportable segment Adjusted EBITDA by Business | ||||||
| International | $2.27B+3.1% | $2.2B+1.4% | $2.17B+2.1% | $2.13B+3.3% | $2.06B-0.3% | |
| U.S. | $880M-4.6% | $922M+19.0% | $775M-0.9% | $782M+21.8% | $642M+26.6% | |
| Cost of Revenue by Business | ||||||
| International | $4.77B+8.3% | $4.41B+8.4% | $4.07B+7.0% | $3.8B+5.9% | $3.59B+0.5% | |
| U.S. | $4.04B+2.2% | $3.96B+7.1% | $3.69B+2.4% | $3.61B+3.7% | $3.48B+3.7% | |
| Sales & Marketing by Business | ||||||
| International | $1.59B+4.4% | $1.52B+3.4% | $1.47B+4.7% | $1.4B+1.3% | $1.39B-0.6% | |
| U.S. | $1.32B+0.4% | $1.32B+7.6% | $1.23B+2.5% | $1.2B-2.8% | $1.23B-3.8% | |
| Research and Development Expense by Business | ||||||
| International | $435M+6.1% | $410M+1.5% | $404M+1.0% | $400M+0.3% | $399M-1.0% | |
| U.S. | $351M+2.0% | $344M+5.5% | $326M+5.2% | $310M+4.4% | $297M+10.0% | |
| Depreciation and amortization excluding amortization of acquired intangibles by Business | ||||||
| International | $559M+11.1% | $503M+9.6% | $459M+12.2% | $409M+6.5% | $384M+0.5% | |
| U.S. | $128M+5.8% | $121M+2.5% | $118M+3.5% | $114M+5.6% | $108M+3.8% | |
| General and Administrative Expense by Business | ||||||
| International | $895M+1.9% | $878M-1.5% | $891M+5.6% | $844M+1.8% | $829M+1.5% | |
| U.S. | $467M+9.4% | $427M+2.4% | $417M-1.9% | $425M+3.9% | $409M+4.9% | |
| Depreciation And Amortization Expense And Share-Based Compensation Expense by Business | ||||||
| International | $638M+8.0% | $591M+9.4% | $540M+11.3% | $485M+5.7% | $459M+0.9% | |
| U.S. | $247M+2.9% | $240M+1.7% | $236M+5.4% | $224M+5.7% | $212M+6.5% | |
| Share-based compensation expense by Business | ||||||
| International | $79M-10.2% | $88M+8.6% | $81M+6.6% | $76M+1.3% | $75M+2.7% | |
| U.S. | $119M0.0% | $119M+0.8% | $118M+7.3% | $110M+5.8% | $104M+9.5% | |
| Revenue by Product | ||||||
| iGaming | $7.64B+5.9% | $7.21B+7.2% | $6.72B+7.8% | $6.23B+7.2% | $5.81B+2.8% | |
| Other | $548M+0.7% | $544M+0.7% | $540M+0.4% | $538M-1.6% | $547M-3.2% | |
| Sportsbook | $8.84B+2.4% | $8.63B+5.6% | $8.18B+0.7% | $8.12B+2.1% | $7.96B+1.6% | |
| Revenue by Geography | ||||||
| Asia Pacific | $1.42B-0.6% | $1.43B-2.8% | $1.47B-3.3% | $1.52B+1.1% | $1.5B-2.9% | |
| Australia | $1.35B+2.5% | $1.32B+0.2% | $1.31B-2.6% | $1.35B+0.7% | $1.34B-4.2% | |
| Central and Eastern Europe | $624M+3.3% | $604M+4.5% | $578M+3.4% | $559M+1.8% | $549M+3.4% | |
| Ireland | $306M+1.0% | $303M-0.3% | $304M+0.3% | $303M+0.3% | $302M-0.7% | |
| Italy | $2.97B+17.2% | $2.53B+20.4% | $2.1B+19.8% | $1.76B+15.2% | $1.52B+2.7% | |
| Other regions | $819M-5.2% | $864M-1.3% | $875M+1.0% | $866M-1.8% | $882M-3.2% | |
| Southern Europe and Africa | $3.24B+17.9% | $2.75B+20.1% | $2.29B+19.5% | $1.91B+16.2% | $1.65B+3.4% | |
| UKI | $3.57B+0.5% | $3.55B-2.4% | $3.64B+0.2% | $3.63B+0.2% | $3.62B+0.6% | |
| UNITED KINGDOM | $3.2B+0.2% | $3.2B-3.1% | $3.3B+0.1% | $3.3B0.0% | $3.3B+0.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Flutter Entertainment break its business down?
- Flutter Entertainment (FLUT) reports revenue by business across 2 parts — International and U.S.. Each is extracted from the segment footnotes and tracked over time.
- Where does Flutter Entertainment's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Flutter Entertainment's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
