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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and KKR & Co. (KKR). Click either name above to swap in a different company.
KKR & Co. is the larger business by last-quarter revenue ($5.7B vs $4.7B, roughly 1.2× Flutter Entertainment plc). KKR & Co. runs the higher net margin — 20.0% vs 0.2%, a 19.8% gap on every dollar of revenue. On growth, KKR & Co. posted the faster year-over-year revenue change (76.1% vs 24.9%). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% CAGR vs -22.9%).
Flutter Entertainment plc is an Irish-American multinational sports betting and gambling company. It is listed on the New York Stock Exchange and has a secondary listing on the London Stock Exchange. It owns brands such as Betfair, FanDuel, Paddy Power, PokerStars, Sky Betting & Gaming, and Sportsbet. Flutter is the world's largest online betting company.
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global private equity and investment company. As of December 31, 2024, the firm had completed 770 private-equity investments with approximately $790 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.
FLUT vs KKR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $5.7B |
| Net Profit | $10.0M | $1.1B |
| Gross Margin | 44.5% | — |
| Operating Margin | 5.4% | 45.3% |
| Net Margin | 0.2% | 20.0% |
| Revenue YoY | 24.9% | 76.1% |
| Net Profit YoY | -93.6% | 1.8% |
| EPS (diluted) | $0.00 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.7B | $5.7B | ||
| Q3 25 | $3.8B | $5.5B | ||
| Q2 25 | $4.2B | $5.1B | ||
| Q1 25 | $3.7B | $3.1B | ||
| Q4 24 | $3.8B | $3.3B | ||
| Q3 24 | $3.2B | $4.8B | ||
| Q2 24 | $3.6B | $4.2B | ||
| Q1 24 | $3.4B | $9.7B |
| Q4 25 | $10.0M | $1.1B | ||
| Q3 25 | $-789.0M | $900.4M | ||
| Q2 25 | $37.0M | $510.1M | ||
| Q1 25 | $335.0M | $-185.9M | ||
| Q4 24 | $156.0M | $1.1B | ||
| Q3 24 | $-114.0M | $600.5M | ||
| Q2 24 | $297.0M | $667.9M | ||
| Q1 24 | $-177.0M | $682.2M |
| Q4 25 | 44.5% | — | ||
| Q3 25 | 42.9% | — | ||
| Q2 25 | 46.8% | — | ||
| Q1 25 | 46.6% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.1% | — | ||
| Q2 24 | 49.2% | — | ||
| Q1 24 | 47.2% | — |
| Q4 25 | 5.4% | 45.3% | ||
| Q3 25 | -22.0% | 39.8% | ||
| Q2 25 | 9.3% | 30.0% | ||
| Q1 25 | 6.1% | 24.8% | ||
| Q4 24 | 7.4% | 50.4% | ||
| Q3 24 | 3.0% | 34.3% | ||
| Q2 24 | 10.2% | 29.0% | ||
| Q1 24 | 3.7% | 14.1% |
| Q4 25 | 0.2% | 20.0% | ||
| Q3 25 | -20.8% | 16.3% | ||
| Q2 25 | 0.9% | 10.0% | ||
| Q1 25 | 9.1% | -6.0% | ||
| Q4 24 | 4.1% | 34.5% | ||
| Q3 24 | -3.5% | 12.5% | ||
| Q2 24 | 8.2% | 16.0% | ||
| Q1 24 | -5.2% | 7.1% |
| Q4 25 | $0.00 | — | ||
| Q3 25 | $-3.91 | — | ||
| Q2 25 | $0.59 | — | ||
| Q1 25 | $1.57 | — | ||
| Q4 24 | $0.47 | — | ||
| Q3 24 | $-0.58 | — | ||
| Q2 24 | $1.45 | — | ||
| Q1 24 | $-1.10 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.8B | — |
| Total DebtLower is stronger | $12.3B | — |
| Stockholders' EquityBook value | $9.0B | $30.9B |
| Total Assets | $29.3B | $410.1B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $12.3B | — | ||
| Q3 25 | $12.1B | — | ||
| Q2 25 | $10.0B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $6.8B | — |
| Q4 25 | $9.0B | $30.9B | ||
| Q3 25 | $9.2B | $29.7B | ||
| Q2 25 | $10.2B | $28.2B | ||
| Q1 25 | $9.9B | $27.5B | ||
| Q4 24 | $9.3B | $23.7B | ||
| Q3 24 | $10.2B | $24.1B | ||
| Q2 24 | $9.9B | $21.7B | ||
| Q1 24 | $9.5B | $21.4B |
| Q4 25 | $29.3B | $410.1B | ||
| Q3 25 | $29.3B | $398.5B | ||
| Q2 25 | $29.9B | $380.9B | ||
| Q1 25 | $24.8B | $372.4B | ||
| Q4 24 | $24.5B | $360.1B | ||
| Q3 24 | $25.5B | $360.7B | ||
| Q2 24 | $24.3B | $348.5B | ||
| Q1 24 | $24.4B | $339.8B |
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.72× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.69× | — | ||
| Q1 24 | 0.72× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $428.0M | $-4.9B |
| Free Cash FlowOCF − Capex | $392.0M | — |
| FCF MarginFCF / Revenue | 8.3% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 42.80× | -4.28× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $-4.9B | ||
| Q3 25 | $209.0M | $2.4B | ||
| Q2 25 | $359.0M | $438.8M | ||
| Q1 25 | $188.0M | $2.5B | ||
| Q4 24 | $652.0M | $-111.7M | ||
| Q3 24 | $290.0M | $1.9B | ||
| Q2 24 | $323.0M | $3.4B | ||
| Q1 24 | $337.0M | $1.5B |
| Q4 25 | $392.0M | — | ||
| Q3 25 | $196.0M | — | ||
| Q2 25 | $322.0M | — | ||
| Q1 25 | $169.0M | — | ||
| Q4 24 | $595.0M | — | ||
| Q3 24 | $253.0M | — | ||
| Q2 24 | $295.0M | — | ||
| Q1 24 | $315.0M | — |
| Q4 25 | 8.3% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 9.3% | — |
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 42.80× | -4.28× | ||
| Q3 25 | — | 2.65× | ||
| Q2 25 | 9.70× | 0.86× | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 4.18× | -0.10× | ||
| Q3 24 | — | 3.12× | ||
| Q2 24 | 1.09× | 5.03× | ||
| Q1 24 | — | 2.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLUT
| Other | $2.6B | 55% |
| Sports Book | $1.5B | 32% |
| Igaming | $586.0M | 12% |
| Service Other | $59.0M | 1% |
KKR
| Insurance Segment | $3.5B | 61% |
| Asset Management1 | $703.7M | 12% |
| Transaction Fee | $512.0M | 9% |
| Transaction And Monitoring Fees | $268.7M | 5% |
| Fee Credit | $230.1M | 4% |
| Other | $201.5M | 4% |
| Fixed Annuity | $77.0M | 1% |
| Asset Management Segment | $56.9M | 1% |
| Monitoring Fee | $53.5M | 1% |
| Investment Advice | $40.6M | 1% |
| Fee Related Performance | $33.6M | 1% |
| Interest Sensitive Life | $21.7M | 0% |
| Incentive Fee | $11.0M | 0% |
