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+20.5% | $9.42B+14.1% | $9B-20.3% | $8.57B-14.0% | $8.26B— | |
| U.S. | $6.83B+14.6% | $6.77B+18.1% | $6.3B+14.2% | $6.2B+21.3% | $5.96B— | |
| Reportable segment Adjusted EBITDA by Business | ||||||
| International | $2.27B+10.3% | $2.2B+6.6% | $2.17B-25.8% | $2.13B-17.7% | $2.06B— | |
| U.S. | $880M+37.1% | $922M+81.9% | $775M+51.4% | $782M+96.0% | $642M— | |
| Cost of Revenue by Business | ||||||
| International | $4.77B+32.9% | $4.41B+23.4% | $4.07B+17.5% | $3.8B+12.9% | $3.59B+9.6% | |
| U.S. | $4.04B+16.3% | $3.96B+18.0% | $3.69B+21.3% | $3.61B+22.7% | $3.48B+27.2% | |
| Sales & Marketing by Business | ||||||
| International | $1.59B+14.5% | $1.52B+9.0% | $1.47B+9.7% | $1.4B+7.1% | $1.39B+9.0% | |
| U.S. | $1.32B+7.6% | $1.32B+3.2% | $1.23B-1.1% | $1.2B-4.3% | $1.23B-4.2% | |
| Research and Development Expense by Business | ||||||
| International | $435M+9.0% | $410M+1.7% | $404M-1.0% | $400M-0.4% | $399M+1.3% | |
| U.S. | $351M+18.2% | $344M+27.4% | $326M+30.9% | $310M+37.2% | $297M+47.0% | |
| Depreciation and amortization excluding amortization of acquired intangibles by Business | ||||||
| International | $559M+45.6% | $503M+31.7% | $459M+24.6% | $409M+13.0% | $384M+7.7% | |
| U.S. | $128M+18.5% | $121M+16.3% | $118M+17.4% | $114M+16.3% | $108M+9.6% | |
| General and Administrative Expense by Business | ||||||
| International | $895M+8.0% | $878M+7.5% | $891M+20.4% | $844M+16.5% | $829M+20.2% | |
| U.S. | $467M+14.2% | $427M+9.5% | $417M+17.5% | $425M+32.0% | $409M+39.6% | |
| Depreciation And Amortization Expense And Share-Based Compensation Expense by Business | ||||||
| International | $638M+39.0% | $591M+29.9% | $540M+22.0% | $485M+12.4% | $459M+9.7% | |
| U.S. | $247M+16.5% | $240M+20.6% | $236M+20.4% | $224M+14.9% | $212M+9.3% | |
| Share-based compensation expense by Business | ||||||
| International | $79M+5.3% | $88M+20.5% | $81M+9.1% | $76M+9.4% | $75M+21.5% | |
| U.S. | $119M+14.4% | $119M+25.3% | $118M+23.6% | $110M+13.4% | $104M+8.9% | |
| Revenue by Product | ||||||
| iGaming | $7.64B+31.4% | $7.21B+27.5% | $6.72B+24.9% | $6.23B+22.1% | $5.81B— | |
| Other | $548M+0.2% | $544M-3.7% | $540M-8.5% | $538M-10.3% | $547M— | |
| Sportsbook | $8.84B+11.1% | $8.63B+10.3% | $8.18B+7.6% | $8.12B+13.2% | $7.96B— | |
| Revenue by Geography | ||||||
| Asia Pacific | $1.42B-5.5% | $1.43B-7.7% | $1.47B-5.6% | $1.52B-1.5% | $1.5B-3.5% | |
| Australia | $1.35B+0.7% | $1.32B-5.9% | $1.31B-7.8% | $1.35B-2.7% | $1.34B— | |
| Central and Eastern Europe | $624M+13.7% | $604M+13.7% | $578M+27.5% | $559M+42.2% | $549M+63.2% | |
| Ireland | $306M+1.3% | $303M-0.3% | $304M+1.7% | $303M+1.0% | $302M— | |
| Italy | $2.97B+94.8% | $2.53B+70.6% | $2.1B+47.0% | $1.76B+26.5% | $1.52B— | |
| Other regions | $819M-7.1% | $864M-5.2% | $875M-6.0% | $866M-8.9% | $882M-7.7% | |
| Southern Europe and Africa | $3.24B+96.6% | $2.75B+72.4% | $2.29B+51.3% | $1.91B+27.7% | $1.65B+12.3% | |
| UKI | $3.57B-1.5% | $3.55B-1.4% | $3.64B+5.7% | $3.63B+9.6% | $3.62B— | |
| UNITED KINGDOM | $3.2B-2.8% | $3.2B-2.5% | $3.3B+5.7% | $3.3B+9.8% | $3.3B— |
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.
