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Flutter Entertainment plc (FLUT) perpetual futures

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.

$96.76-3.2%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
$91.8
Open interest
$0
Best liquidity
-
Tightest spread
-
Highest volume
$91.8
Helix (Injective)
Settlement mix
USDC · 1/1
Perp/spot vol.
0.00x
Spot volume $226.9M
OI / float
0.00%
Float $12.5B
Spot performance
1D-3.17%
5D+1.25%
1M-7.15%
6M-8.56%
YTD-54.89%
1Y-67.56%

Venue matrix

1 markets

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Trade
Helix (Injective)TradeFLUT/USDCTrading$96.76+3.6% APR
+0.00042% every 1h		--$91.8-USDC12x

Also listed on Helix (Injective)

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Tradability

Execution quality

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
Helix (Injective) · FLUT/USDC$91.8

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$16.8B
Updated 1h ago
Revenue
$17.2B
Trailing 12 months
Revenue growth
+10%
Next fiscal year
Profit margin
-4.6%
P/E
-22.9
Peer P/E 9.8
Free cash flow
$761.1M
Trailing 12 months
More metrics
Net income
-$795M
Trailing 12 months
P/S
1.0
Peer P/E
9.8
Similar listed perps
Revenue estimate
$17.9B
Next fiscal year
Earnings
2026-11-11
Revenue est. $4B · Updated 1h 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
Historical value series
Revenue
Q3 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
Q3 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
Q3 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
Q3 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
Q3 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
Q3 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
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
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 outstanding
Q3 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
Q3 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
2019: $2.7B2020: $6B2021: $8.3B2022: $9.5B2023: $11.8B2024: $14B2025: $16.4B20192025
Net income
2019: $183.7M2020: $51.8M2021: -$923M2022: -$432M2023: -$1.2B2024: $109M2025: -$380M20192025
EBITDA
2019: $518.7M2020: $1.2B2021: $669M2022: $999M2023: $624M2024: $1.6B2025: $2B20192025
Free cash flow
2019: $378.4M2020: $1.1B2021: $194M2022: $734M2023: $335M2024: $941M2025: $1.1B20192025
EPS
2019: $2.382020: $0.392021: -$5.242022: -$2.442023: -$6.92024: $0.242025: -$1.7320192025
Cash / Debt
2019 · 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
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
2020: +121.1%2021: +37.6%2022: +13.9%2023: +24.6%2024: +19.2%2025: +16.6%20192025
Shares outstanding
2019: 80.3M2020: 132.8M2021: 176M2022: 177M2023: 177M2024: 180M2025: 179M20192025
Valuation
2019 · 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

Refreshed 1h ago

Next catalyst

Catalysts

Earnings
2026-11-11
Revenue est. $4B · Updated 1h 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 20264.87$17.9B+10%12
FY 20277.45$19.5B+19%8
FY 202810.44$21.1B+29%7
FY 202914.31$22.8B+39%2
FY 203019.09$24.5B+49%4
Q1 20271.58$4.7B+9%3

Company events

6
2026-11-11EarningsActual - / Estimate 0.3-
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

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FUTU$16.6B5.011.7+42.9%7LASERTEC$18.1B12.637.5+33.6%2RBRK$18.2B11.8-69.6-16.5%1OWL$18.3B6.198.2+2.7%1KUAISHOU$18.4B0.97.9+10.9%13RIVN$18.9B3.2-6.0-55.0%16TOST$19.5B2.940.5+7.1%1IONQ$14.1B57.2-8.8-573.6%11

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?

Each venue sets its own FLUT funding rate and it changes continuously. PerpEquities shows the live rate, annualized rate and history for every venue side by side.

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.