PerpEquities

Equity

Flutter Entertainment plc (FLUT) perpetual futures

FLUT perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade FLUTUSDT.

Flutter Entertainment is a sports betting and gaming company operating brands like FanDuel, PokerStars, and Paddy Power across the US, UK, Ireland, Australia, and internationally.

$74.81-0.8%NYSE closed
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venue perp mark · Helix (Injective) (FLUT/USDC)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$25.7K
Open interest
-Coverage: 0/1 markets
Best liquidity
-
Tightest spread
-
Highest volume
$25.7K
Helix (Injective)
Settlement mix
USDC · 1/1
Perp/spot vol.
0.00x
Spot volume $151.6M
OI / float
-
Float $9.4B
Spot performance
1D-0.76%
5D-4.88%
1M-18.27%
6M-31.32%
YTD-64.84%
1Y-69.98%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Helix (Injective)TradeFLUT/USDCTrading$74.81+3.6% APR
+0.00042% every 1h
--$25.7K-USDC12x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

-
No live data-

Highest volume

FLUT

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 94h ago
Market cap
$13.6B
Updated 94h ago
Revenue
$17.2B
Trailing 12 months
Revenue growth
+9%
Next fiscal year
Profit margin
-4.6%
P/E
-18.4
Peer P/E 25.9
Free cash flow
$761.1M
Trailing 12 months
More metrics
Net income
-$795M
Trailing 12 months
P/S
0.8
Peer P/E
25.9
Similar listed perps
Revenue estimate
$17.9B
Next fiscal year
Earnings
2026-11-11
Revenue est. $4B · Updated 94h ago
Dividend
$1.33
2020-04-09

Fundamental detail

Annual + quarterly
Latest revenue$16.4B
Net margin-2.3%
Free cash flow$1.1B
Net debt$9.5B
2020$6B
2021$8.3B
2022$9.5B
2023$11.8B
2024$14B
2025$16.4B
PeriodRevenueGrowthNet incomeFCF
2020$6B+121%$51.8M$1.1B
2021$8.3B+38%-$923M$194M
2022$9.5B+14%-$432M$734M
2023$11.8B+25%-$1.2B$335M
2024$14B+19%$109M$941M
2025$16.4B+17%-$380M$1.1B
PeriodGross marginOperating marginNet marginROEROA
2020+65.1%+2.3%+0.9%+0.3%+0.2%
2021+53.3%-5.4%-11.1%-6.6%-4.1%
2022+49.1%-0.9%-4.6%-3.5%-1.8%
2023+47.4%-4.7%-10.4%-12.2%-5.0%
2024+47.7%+6.2%+0.8%+1.2%+0.4%
2025+45.2%+3.4%-2.3%-4.2%-1.3%
PeriodCashDebtNet debtCurrent ratio
2020$1.6B$4.5B$2.9B0.74
2021$2.2B$5.2B$3B0.95
2022$2.5B$7.2B$4.7B0.87
2023$3.3B$7.5B$4.3B0.88
2024$3.5B$7.4B$3.9B0.95
2025$3.8B$13.3B$9.5B0.95
PeriodMarket capEnterprise valueP/SP/E
2020$27.4B$30.2B4.5514.8
2021$27.7B$30.7B3.3-30.1
2022$23.9B$28.5B2.5-55.2
2023$31.7B$35.9B2.7-25.9
2024$46B$49.9B3.31,076.9
2025$38.5B$48B2.3-124.3
Q3 2024$3.2B
Q4 2024$3.8B
Q1 2025$3.7B
Q2 2025$4.2B
Q3 2025$3.8B
Q4 2025$4.7B
Q1 2026$4.3B
Q2 2026$4.3B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$3.2B+27%-$119M$112M
Q4 2024$3.8B+14%$130M$473M
Q1 2025$3.7B+8%$332M$88M
Q2 2025$4.2B+16%$25M$156M
Q3 2025$3.8B+17%-$760M$25M
Q4 2025$4.7B+25%$23M$394.1M
Q1 2026$4.3B+17%$216M$153M
Q2 2026$4.3B+3%-$274M$189M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+46.1%+3.0%-3.7%-1.2%-0.5%
Q4 2024+48.2%+7.4%+3.4%+1.4%+0.5%
Q1 2025+46.6%+6.1%+9.1%+3.4%+1.3%
Q2 2025+46.8%+9.3%+0.6%+0.2%+0.1%
Q3 2025+42.9%-8.4%-20.0%-8.2%-2.6%
Q4 2025+44.5%+5.4%+0.5%+0.3%+0.1%
Q1 2026+42.7%+1.8%+5.0%+2.4%+0.8%
Q2 2026+39.6%-3.3%-6.3%-3.1%-1.0%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$3.4B$7.5B$4.1B0.89
Q4 2024$3.5B$7.4B$3.9B0.95
Q1 2025$3.3B$7.4B$4.1B0.95
Q2 2025$3.4B$10.6B$7.1B0.95
Q3 2025$3.7B$12.7B$9B0.96
Q4 2025$3.8B$13.3B$9.5B0.95
Q1 2026$3.5B$12.6B$9.1B0.90
Q2 2026$1.6B$12.6B$11B0.89
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$42.2B$46.4B13.0-102.3
Q4 2024$46B$49.9B12.1143.6
Q1 2025$39.4B$43.5B10.834.8
Q2 2025$51.2B$58.3B12.2121.1
Q3 2025$45.5B$54.5B12.0-16.5
Q4 2025$38.5B$48B8.1-1,202.7
Q1 2026$18.2B$27.3B4.220.9
Q2 2026$17.9B$28.9B4.1-16.3

Refreshed 94h ago

Charts: revenue, profit, cash flow & valuation
Revenue$4.3BQ2 2026
$1.2B$2.4B$3.6B$4.7BQ3 2023: $2.6BQ4 2023: $3.3BQ1 2024: $3.4BQ2 2024: $3.6BQ3 2024: $3.2BQ4 2024: $3.8BQ1 2025: $3.7BQ2 2025: $4.2BQ3 2025: $3.8BQ4 2025: $4.7BQ1 2026: $4.3BQ2 2026: $4.3BQ3 2023Q2 2026
Net income-$274MQ2 2026
-$601M-$290M$21M$332MQ3 2023: -$275MQ4 2023: -$912MQ1 2024: -$196MQ2 2024: $261MQ3 2024: -$119MQ4 2024: $130MQ1 2025: $332MQ2 2025: $25MQ3 2025: -$760MQ4 2025: $23MQ1 2026: $216MQ2 2026: -$274MQ3 2023Q2 2026
EBITDA$248MQ2 2026
$20.5M$286M$551.5M$817MQ3 2023: $135MQ4 2023: $474MQ1 2024: $263MQ2 2024: $730MQ3 2024: $233MQ4 2024: $340MQ1 2025: $753MQ2 2025: $704MQ3 2025: -$245MQ4 2025: $772MQ1 2026: $817MQ2 2026: $248MQ3 2023Q2 2026
Free cash flow$189MQ2 2026
$118.3M$236.5M$354.8M$473MQ3 2023: $434MQ4 2023: $172MQ1 2024: $185MQ2 2024: $171MQ3 2024: $112MQ4 2024: $473MQ1 2025: $88MQ2 2025: $156MQ3 2025: $25MQ4 2025: $394.1MQ1 2026: $153MQ2 2026: $189MQ3 2023Q2 2026
EPS-$1.57Q2 2026
-$2.56-$1.18$0.19$1.57Q3 2023: -$1.55Q4 2023: -$3.93Q1 2024: -$1.1Q2 2024: $1.45Q3 2024: -$0.58Q4 2024: $0.45Q1 2025: $1.57Q2 2025: $0.59Q3 2025: -$3.85Q4 2025: -$0.04Q1 2026: $1.22Q2 2026: -$1.57Q3 2023Q2 2026
Cash / Debt$1.6BQ2 2026
$3.3B$6.7B$10B$13.3BQ3 2023 · Cash: $2.7BQ3 2023 · Debt: $6.1BQ4 2023 · Cash: $3.2BQ4 2023 · Debt: $7.5BQ1 2024 · Cash: $3.2BQ1 2024 · Debt: $7.3BQ2 2024 · Cash: $3.2BQ2 2024 · Debt: $7.3BQ3 2024 · Cash: $3.4BQ3 2024 · Debt: $7.5BQ4 2024 · Cash: $3.5BQ4 2024 · Debt: $7.4BQ1 2025 · Cash: $3.3BQ1 2025 · Debt: $7.4BQ2 2025 · Cash: $3.4BQ2 2025 · Debt: $10.6BQ3 2025 · Cash: $3.7BQ3 2025 · Debt: $12.7BQ4 2025 · Cash: $3.8BQ4 2025 · Debt: $13.3BQ1 2026 · Cash: $3.5BQ1 2026 · Debt: $12.6BQ2 2026 · Cash: $1.6BQ2 2026 · Debt: $12.6BQ3 2023Q2 2026
CashDebt
Profitability+39.6%Q2 2026
-8.4%+10.8%+30.0%+49.2%Q3 2023 · Gross margin: +45.8%Q4 2023 · Gross margin: +46.2%Q1 2024 · Gross margin: +47.2%Q2 2024 · Gross margin: +49.2%Q3 2024 · Gross margin: +46.1%Q4 2024 · Gross margin: +48.2%Q1 2025 · Gross margin: +46.6%Q2 2025 · Gross margin: +46.8%Q3 2025 · Gross margin: +42.9%Q4 2025 · Gross margin: +44.5%Q1 2026 · Gross margin: +42.7%Q2 2026 · Gross margin: +39.6%Q3 2023 · Operating margin: -5.4%Q4 2023 · Operating margin: -18.7%Q1 2024 · Operating margin: +3.7%Q2 2024 · Operating margin: +10.2%Q3 2024 · Operating margin: +3.0%Q4 2024 · Operating margin: +7.4%Q1 2025 · Operating margin: +6.1%Q2 2025 · Operating margin: +9.3%Q3 2025 · Operating margin: -8.4%Q4 2025 · Operating margin: +5.4%Q1 2026 · Operating margin: +1.8%Q2 2026 · Operating margin: -3.3%Q3 2023 · Net margin: -10.8%Q4 2023 · Net margin: -27.5%Q1 2024 · Net margin: -5.8%Q2 2024 · Net margin: +7.2%Q3 2024 · Net margin: -3.7%Q4 2024 · Net margin: +3.4%Q1 2025 · Net margin: +9.1%Q2 2025 · Net margin: +0.6%Q3 2025 · Net margin: -20.0%Q4 2025 · Net margin: +0.5%Q1 2026 · Net margin: +5.0%Q2 2026 · Net margin: -6.3%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+3.3%Q2 2026
+6.7%+13.5%+20.2%+27.0%Q3 2024: +27.0%Q4 2024: +14.5%Q1 2025: +7.9%Q2 2025: +16.0%Q3 2025: +16.8%Q4 2025: +24.9%Q1 2026: +17.4%Q2 2026: +3.3%Q3 2023Q2 2026
Shares outstanding175MQ2 2026
45M90M135M180MQ3 2023: 178MQ4 2023: 176.5MQ1 2024: 178MQ2 2024: 180MQ3 2024: 178MQ4 2024: 178MQ1 2025: 180MQ2 2025: 179MQ3 2025: 179MQ4 2025: 179MQ1 2026: 179MQ2 2026: 175MQ3 2023Q2 2026
Valuation-16.3Q2 2026
-866.1-529.6-193.0143.6Q3 2023 · P/E: -26.1Q4 2023 · P/E: -11.4Q1 2024 · P/E: -44.6Q2 2024 · P/E: 31.7Q3 2024 · P/E: -102.3Q4 2024 · P/E: 143.6Q1 2025 · P/E: 34.8Q2 2025 · P/E: 121.1Q3 2025 · P/E: -16.5Q4 2025 · P/E: -1,202.7Q1 2026 · P/E: 20.9Q2 2026 · P/E: -16.3Q3 2023 · P/S: 11.2Q4 2023 · P/S: 9.5Q1 2024 · P/S: 10.3Q2 2024 · P/S: 9.3Q3 2024 · P/S: 13.0Q4 2024 · P/S: 12.1Q1 2025 · P/S: 10.8Q2 2025 · P/S: 12.2Q3 2025 · P/S: 12.0Q4 2025 · P/S: 8.1Q1 2026 · P/S: 4.2Q2 2026 · P/S: 4.1Q3 2023Q2 2026
P/EP/S
Revenue$16.4B2025
$4.1B$8.2B$12.3B$16.4B2019: $2.7B2020: $6B2021: $8.3B2022: $9.5B2023: $11.8B2024: $14B2025: $16.4B20192025
Net income-$380M2025
-$870.6M-$519.1M-$167.7M$183.7M2019: $183.7M2020: $51.8M2021: -$923M2022: -$432M2023: -$1.2B2024: $109M2025: -$380M20192025
EBITDA$2B2025
$496M$992M$1.5B$2B2019: $518.7M2020: $1.2B2021: $669M2022: $999M2023: $624M2024: $1.6B2025: $2B20192025
Free cash flow$1.1B2025
$269.8M$539.5M$809.3M$1.1B2019: $378.4M2020: $1.1B2021: $194M2022: $734M2023: $335M2024: $941M2025: $1.1B20192025
EPS-$1.732025
-$4.58-$2.26$0.06$2.382019: $2.382020: $0.392021: -$5.242022: -$2.442023: -$6.92024: $0.242025: -$1.7320192025
Cash / Debt$3.8B2025
$3.3B$6.7B$10B$13.3B2019 · Cash: $393.7M2019 · Debt: $716.3M2020 · Cash: $1.6B2020 · Debt: $4.5B2021 · Cash: $2.2B2021 · Debt: $5.2B2022 · Cash: $2.5B2022 · Debt: $7.2B2023 · Cash: $3.3B2023 · Debt: $7.5B2024 · Cash: $3.5B2024 · Debt: $7.4B2025 · Cash: $3.8B2025 · Debt: $13.3B20192025
CashDebt
Profitability+45.2%2025
+8.0%+27.0%+46.1%+65.1%2019 · Gross margin: +57.6%2020 · Gross margin: +65.1%2021 · Gross margin: +53.3%2022 · Gross margin: +49.1%2023 · Gross margin: +47.4%2024 · Gross margin: +47.7%2025 · Gross margin: +45.2%2019 · Operating margin: +7.9%2020 · Operating margin: +2.3%2021 · Operating margin: -5.4%2022 · Operating margin: -0.9%2023 · Operating margin: -4.7%2024 · Operating margin: +6.2%2025 · Operating margin: +3.4%2019 · Net margin: +6.7%2020 · Net margin: +0.9%2021 · Net margin: -11.1%2022 · Net margin: -4.6%2023 · Net margin: -10.4%2024 · Net margin: +0.8%2025 · Net margin: -2.3%20192025
Gross marginOperating marginNet margin
Revenue growth+16.6%2025
+30.3%+60.5%+90.8%+121.1%2020: +121.1%2021: +37.6%2022: +13.9%2023: +24.6%2024: +19.2%2025: +16.6%20192025
Shares outstanding179M2025
45M90M135M180M2019: 80.3M2020: 132.8M2021: 176M2022: 177M2023: 177M2024: 180M2025: 179M20192025
Valuation-124.32025
176.0476.3776.61,076.92019 · P/E: 48.12020 · P/E: 514.82021 · P/E: -30.12022 · P/E: -55.22023 · P/E: -25.92024 · P/E: 1,076.92025 · P/E: -124.32019 · P/S: 3.42020 · P/S: 4.52021 · P/S: 3.32022 · P/S: 2.52023 · P/S: 2.72024 · P/S: 3.32025 · P/S: 2.320192025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-11
Revenue est. $4B · Updated 94h ago
Dividend
$1.33
2020-04-09

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20264.78$17.9B+9%12
FY 20277.14$19.4B+18%8
FY 20289.99$21B+28%9
FY 202913.80$22.9B+40%3
FY 203018.86$24.3B+48%3
Q1 20271.49$4.7B+9%6

Company events

6
2026-11-11EarningsActual - / Estimate 0.29-
2026-08-05EarningsActual 0.49 / Estimate 0.54Miss
2026-05-06EarningsActual 1.22 / Estimate 1.09Beat
2026-02-26EarningsActual 1.74 / Estimate 1.85Miss
2025-11-12EarningsActual 1.64 / Estimate 0.61Beat
2025-08-07EarningsActual 2.95 / Estimate 2.24Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering FLUT have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings198554
Analysts3945
Buy / hold / sell150 / 44 / 4477 / 73 / 4
Upgrades / downgrades / initiations3 / 9 / 68 / 12 / 18
Price targets hit / missed0 / 184 (0%)1 / 507 (0%)
Avg. return after a rating (TipRanks)-57.7%-67.1%
Best / worst call-16.3% / -80.0%+52.4% / -81.1%

After buy calls on this stock: median 21-day move +1.1% vs S&P 500 -1.3% (n = 476)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. James WheatcroftJefferies77% hit rate on this stock · 39 targets measuredBuytarget $180Sep 29, 2026
  2. Jordan BenderCitizens JMP73% hit rate on this stock · 22 targets measuredBuytarget $129Oct 13, 2026
  3. Brandt MontourBarclays73% hit rate on this stock · 11 targets measuredBuytarget $133Oct 9, 2026

Latest ratings

DateAnalystCallTarget
Oct 13, 2026Jordan BenderCitizens JMPBuyMaintained$129
Oct 9, 2026Brandt MontourBarclaysBuyMaintained$133
Oct 8, 2026Ben ShelleyUBSBuyMaintained$140
Oct 8, 2026Joseph StauffSusquehannaBuyMaintained$100
Oct 8, 2026Matt McCartneyWedbushBuyReiterated$110
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$100$150$200$250$300Nov 25 · Buy 23 · Hold 4 · Sell 0Nov 25Dec 25 · Buy 24 · Hold 4 · Sell 0Jan 26 · Buy 23 · Hold 6 · Sell 0Jan 26Feb 26 · Buy 24 · Hold 7 · Sell 0Mar 26 · Buy 23 · Hold 8 · Sell 0Mar 26Apr 26 · Buy 22 · Hold 9 · Sell 1May 26 · Buy 22 · Hold 7 · Sell 2May 26Jun 26 · Buy 22 · Hold 8 · Sell 2Jul 26 · Buy 20 · Hold 8 · Sell 2Jul 26Aug 26 · Buy 19 · Hold 8 · Sell 1Sep 26 · Buy 18 · Hold 8 · Sell 1Sep 26Oct 26 · Buy 18 · Hold 8 · Sell 1Nov 25 · avg. target $305Dec 25 · avg. target $298Jan 26 · avg. target $272Feb 26 · avg. target $232Mar 26 · avg. target $200Apr 26 · avg. target $188May 26 · avg. target $172Jun 26 · avg. target $167Jul 26 · avg. target $150Aug 26 · avg. target $137Sep 26 · avg. target $136Oct 26 · avg. target $136Nov 25 · month-end close $209Dec 25 · month-end close $215Jan 26 · month-end close $165Feb 26 · month-end close $106Mar 26 · month-end close $102Apr 26 · month-end close $108May 26 · month-end close $96.98Jun 26 · month-end close $102Jul 26 · month-end close $104Aug 26 · month-end close $100Sep 26 · month-end close $74.54Oct 26 · month-end close $79.78

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Oct 16, 2026 · 198 ratings

Frequently asked questions

Where can I trade FLUT perpetual futures?

Flutter Entertainment plc (FLUT) perpetual futures trade on 1 crypto venues, including Helix (Injective). PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade FLUT around the clock?

Yes. Unlike the underlying stock, FLUT perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on FLUT perpetuals?

Right now the FLUT perp funding rate is +3.6% annualized (venue median), ranging from +3.6% to +3.6% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the FLUT perp price compare to the Flutter Entertainment plc stock?

The venue-median FLUT perp mark is $74.8 versus a reference stock price of $74.8, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a FLUT perpetual future?

A FLUT perpetual is a derivative that tracks the price of Flutter Entertainment plc with no expiry date. It lets you take long or short exposure to Flutter Entertainment plc on crypto venues, around the clock.

What is FLUTUSDT perpetual?

FLUTUSDT is the symbol most crypto exchanges use for the Flutter Entertainment plc perpetual settled in USDT (Tether). It tracks the FLUT share price through an index, trades 24/7 with leverage and never expires.

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