- Flutter’s projected adjusted Ebitda for 2024, excluding US, ranges from $1.63 billion to $1.83 billion.
- The US adjusted EBITDA is expected to be between $635 million and $785 million.
- The company reported an impressive revenue of $11.79 billion in 2023, marking a 25% year-on-year increase.
- US revenue for 2023 stood at $4.48 billion, a significant 41% increase compared to the previous year.
- UK and Ireland’s revenue was $3.05 billion, up by 14% from the previous year.
- Australia’s revenue was $1.45 billion, a decrease of 7.1% from the previous year.
- The US saw a constant currency revenue increase of 40.6%, while the UK and Ireland had a 13.7% increase. Australia, on the other hand, saw a decrease of 2.8%.
- US adjusted EBITDA for 2023 was $65 million, a significant improvement from a loss of $347 million the previous year.
- UK and Ireland’s adjusted Ebitda was $888 million, up by 17% year-on-year, while Australia’s was $348 million, down by 27%.
- International adjusted Ebitda stood at $592 million, a 50% increase from the previous year.
- International constant currency revenue increased by 34.2%, and international revenue was $2.81 billion, up by 37% compared to the previous year.
- Adjusted Ebitda for 2023 was $1.87 billion, a 45% increase from the previous year, with an Ebitda margin of 15.9%, up from 13.6% the previous year.
- Flutter estimates its FY24 US revenue to be between $5.8 billion and $6.2 billion, a 36.3% increase at midpoint, and expects group ex-US revenue to be between $7.65 billion and $8.05 billion, a 6.3% increase at midpoint.
- The company has updated its medium-term leverage ratio target to 2-2.5x from the previous target of 1-2x.
- Trading for FY24 to date has been described as “strong,” with group revenue growth of 23.4% from January 1 to March 17 compared to the same period in the previous year.
- Flutter is planning a primary listing move to the NYSE and is working towards a shareholder vote on May 1, 2024, as stated by CEO Peter Jackson.
A look at Flutter Entertainment Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Flutter Entertainment Public Limited Company, a leading provider of mobile and online gambling services, has received an overall positive outlook from Smartkarma’s Smart Scores. This is determined by five key factors, including value, dividend, growth, resilience, and momentum. While the company received a moderate score of 3 for value, it scored a perfect 5 for growth and momentum, indicating a strong potential for future success. However, it received a lower score of 1 for dividend, suggesting potential limitations for investors seeking steady income. Additionally, the company scored a moderate 3 for resilience, indicating a solid foundation for navigating potential challenges in the long-term.
Based on the Smart Scores, Flutter Entertainment is expected to have a promising long-term outlook. With a high score of 5 for growth, the company is likely to continue expanding its business and increasing its market share. The perfect score of 5 for momentum also suggests a strong upward trend in the company’s performance. While investors seeking steady income may be deterred by the lower score of 1 for dividend, the company’s overall positive outlook and strong scores in other areas make it a potentially attractive investment option. With its solid foundation and potential for growth and success, Flutter Entertainment is definitely a company to keep an eye on in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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