Financials Flutter Entertainment plc Irish S.E.

Equities

FLTR

IE00BWT6H894

Casinos & Gaming

Real-time Irish S.E. Other stock markets 10:25:00 29/01/2024 pm IST			5-day change	1st Jan Change
182 ^EUR	-.--%		-0.44%	+13.72%

26/04	TotalEnergies Looking at Moving Primary Listing to New York, CEO Says -- Update	DJ
26/04	TotalEnergies Looking at Moving Primary Listing to New York, CEO Says	DJ

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,210	26,442	20,561	19,866	24,543	26,457	-	-
Enterprise Value (EV) ¹	7,210	29,256	23,208	24,510	24,543	30,091	29,115	27,519
P/E ratio	50.6 x	516 x	-49.7 x	-66.1 x	-25.5 x	119 x	46.8 x	21.8 x
Yield	2.17%	-	-	-	-	1.03%	1.37%	2.77%
Capitalization / Revenue	3.37 x	5.02 x	3.41 x	2.58 x	2.63 x	2.41 x	2.17 x	1.95 x
EV / Revenue	3.37 x	5.56 x	3.84 x	3.19 x	2.63 x	2.75 x	2.38 x	2.03 x
EV / EBITDA	16.9 x	23.8 x	23.2 x	23.5 x	16.5 x	15.6 x	11.9 x	9.16 x
EV / FCF	25.6 x	27.2 x	41.2 x	48.1 x	-	33.2 x	21.2 x	15.8 x
FCF Yield	3.91%	3.68%	2.43%	2.08%	-	3.01%	4.71%	6.34%
Price to Book	-	1.79 x	2.02 x	-	-	3.02 x	2.84 x	2.65 x
Nbr of stocks (in thousands)	79,475	1,74,995	1,74,839	1,75,961	1,76,059	1,77,445	-	-
Reference price ²	90.72	151.1	117.6	112.9	139.4	149.1	149.1	149.1
Announcement Date	27/02/20	02/03/21	01/03/22	02/03/23	26/03/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,140	5,264	6,036	7,693	9,336	10,958	12,214	13,582
EBITDA ¹	425.4	1,231	1,001	1,045	1,484	1,928	2,444	3,004
EBIT ¹	280.6	990	746	675	466.4	1,154	1,653	2,244
Operating Margin	13.11%	18.81%	12.36%	8.77%	5%	10.54%	13.54%	16.52%
Earnings before Tax (EBT) ¹	135.7	247.9	-288.4	-274.8	-863.9	572	1,066	1,615
Net income ¹	144	37.9	-415.8	-302	-967.7	380.5	618.9	1,290
Net margin	6.73%	0.72%	-6.89%	-3.93%	-10.36%	3.47%	5.07%	9.49%
EPS ²	1.792	0.2930	-2.365	-1.708	-5.456	1.251	3.186	6.828
Free Cash Flow ¹	282	1,077	563	510	-	905.1	1,372	1,743
FCF margin	13.18%	20.46%	9.33%	6.63%	-	8.26%	11.23%	12.84%
FCF Conversion (EBITDA)	66.29%	87.49%	56.24%	48.8%	-	46.94%	56.14%	58.04%
FCF Conversion (Net income)	195.83%	2,841.69%	-	-	-	237.87%	221.71%	135.19%
Dividend per Share ²	1.967	-	-	-	-	1.536	2.044	4.123
Announcement Date	27/02/20	02/03/21	01/03/22	02/03/23	26/03/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1
Net sales ¹	1,120	2,389	2,875	3,053	1,439	1,544	2,983	1,566	1,822	3,388	1,891	2,414	4,305	2,411	2,398	4,809	2,040	2,831	2,678	5,303	2,337	3,179	5,454	3,069
EBITDA ¹	-	684	-	597	-	-	404	-	-	476	-	-	569	-	-	823	-	369.3	552.8	1,031	314.8	698.6	955.5	490.2
EBIT ¹	-	-	-	183.6	-	-	274	-	-	334	-	-	341	-	-	585	-	60.72	243.9	729	53.15	395.7	758	184.5
Operating Margin	-	-	-	6.01%	-	-	9.19%	-	-	9.86%	-	-	7.92%	-	-	12.16%	-	2.14%	9.11%	13.75%	2.27%	12.45%	13.9%	6.01%
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	-	-	-51.4	-	-	-223.4	-	-	83	-	-57.18	116.1	-	-44.42	294.2	-	117.2
Net income ¹	-	-	-	-	-	-	-	-	-	-112	-	-	-187.7	-	-	128	-	-4.823	140.2	-	4.162	275.2	-	87.91
Net margin	-	-	-	-	-	-	-	-	-	-3.31%	-	-	-4.36%	-	-	2.66%	-	-0.17%	5.23%	-	0.18%	8.66%	-	2.86%
EPS	-	-	-	-	-	-	-	-	-	-0.6470	-	-	-1.061	-	-	0.7280	-	-	-	-	-	-	-	-
Dividend per Share	1.318	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	27/02/20	27/08/20	02/03/21	10/08/21	01/12/21	01/03/22	01/03/22	04/05/22	12/08/22	12/08/22	09/11/22	02/03/23	02/03/23	09/05/23	09/08/23	09/08/23	26/12/23	-	-	-	-	-	-	-

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	2,814	2,647	4,644	-	3,634	2,658	1,062
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	2.286 x	2.644 x	4.444 x	-	1.885 x	1.088 x	0.3536 x
Free Cash Flow ¹	282	1,077	563	510	-	905	1,372	1,743
ROE (net income / shareholders' equity)	5.97%	6.98%	4.19%	-	-	9.43%	13.8%	16.8%
ROA (Net income/ Total Assets)	4.51%	4.66%	2.63%	-	-	3.85%	5.32%	6.37%
Assets ¹	3,195	813.4	-15,804	-	-	9,896	15,944	20,259
Book Value Per Share ²	-	84.60	58.30	-	-	49.40	52.50	56.40
Cash Flow per Share ²	5.220	7.520	3.900	-	-	7.270	9.710	11.80
Capex ¹	136	252	308	403	-	534	552	625
Capex / Sales	6.36%	4.79%	5.1%	5.24%	-	4.87%	4.52%	4.6%
Announcement Date	27/02/20	02/03/21	01/03/22	02/03/23	26/03/24	-	-	-

¹GBP in Million²GBP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Flutter Entertainment plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

149.1 GBP

Average target price

187.2 GBP

Spread / Average Target

+25.54%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Casinos & Gaming

	1st Jan change	Capi.
EVOLUTION AB	+2.10%	23.65B
DRAFTKINGS INC.	+21.36%	20.35B
GALAXY ENTERTAINMENT GROUP LIMITED	-18.97%	20.1B
SANDS CHINA LTD	-18.25%	19.79B
ARISTOCRAT LEISURE LIMITED	-2.20%	16.53B
CHURCHILL DOWNS INCORPORATED	-3.55%	9.57B
CAESARS ENTERTAINMENT, INC.	-19.86%	8.13B
LA FRANÇAISE DES JEUX	+9.01%	7.23B
THE LOTTERY CORPORATION LIMITED	+0.83%	7.11B

Other Casinos & Gaming