CluenexFlutter Entertainment FLUT
Flutter Entertainment scores weak on business quality (4.1 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Flutter Entertainment does
Flutter Entertainment makes money by operating online sports betting and iGaming brands like FanDuel, collecting wagers from digital users. The company is driving expansion through high-volume customer acquisition in the digital sports betting market.
- What it does best
Flutter dominates customer acquisition through FanDuel, capturing top decile revenue growth of 89% in its sector. Scale allows heavy marketing outlays that smaller rivals like DraftKings cannot match without severe cash burn.
- The main risk
Heavy debt loads threaten stability, with total debt reaching $12.3 billion against negative interest coverage of -0.95x. Servicing these liabilities requires continuous cash generation that current margins struggle to support.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins compress at -3.8% alongside a -8.4% return on equity, dragging profitability down despite top-line expansion and preventing scale economies from taking hold.
Brand scale creates a modest consumer lock-in, but a bottom-quartile operating margin of -3.8% and a weak moat score of 4.0 show that rivals easily replicate its offerings.
Revenue surged to $17.2B with a 16.6% growth rate, firmly outperforming broader sector trends as digital betting adoption accelerates across its core markets.
Net debt sits at $8.4B with negative interest coverage, making debt servicing a severe drag. Free cash flow of $505M covers only a fraction of liabilities, leaving the balance sheet deeply strained.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
5 sold $644K outside pre-planned sales.
Our sealed record on FLUT
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Flutter Entertainment scores weak on the Cluenex quality check (4.1 of 10), measured against its own industry. Profitability is weak, moat weak, growth fast and financial health weak.
In the last 90 days of SEC Form 4 filings: 5 sold $644K outside pre-planned sales.
Nov 10, 2026.
See FLUT today
- Today's verdict on FLUT, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Flutter Entertainment (FLUT)”, https://cluenex.com/stocks/flut/, data as of Oct 10, 2026.