Flagship explainer

How Flutter Entertainment plc makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$16.4B · 100%Cost of revenue$9.0B · 55%Gross profit$7.4B · 45%Operating income$36M · 0%Income before tax−$121M · −1%Income tax$286M · 2%Net income−$407M · −2%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$16.4B100%
Cost of revenue$9.0B55%
$7.4B45%
$36M0%
Income before tax−$121M−1%
Income tax$286M2%
−$407M−2%
Source: · event Dec 31, 2025 · retrieved Oct 17, 2026 · annual-row source set
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