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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and CarMax (KMX). Click either name above to swap in a different company.
CarMax is the larger business by last-quarter revenue ($5.8B vs $4.7B, roughly 1.2× Flutter Entertainment plc). CarMax runs the higher net margin — 1.1% vs 0.2%, a 0.9% gap on every dollar of revenue. On growth, Flutter Entertainment plc posted the faster year-over-year revenue change (24.9% vs -6.9%). CarMax produced more free cash flow last quarter ($1.1B vs $392.0M). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% CAGR vs 1.5%).
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.
CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City Corporation, Inc., opening its first location in September 1993 in Richmond, Virginia. As of January 2025, CarMax operates 253 locations.
FLUT vs KMX — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $5.8B |
| Net Profit | $10.0M | $62.2M |
| Gross Margin | 44.5% | 10.2% |
| Operating Margin | 5.4% | — |
| Net Margin | 0.2% | 1.1% |
| Revenue YoY | 24.9% | -6.9% |
| Net Profit YoY | -93.6% | -50.4% |
| EPS (diluted) | $0.00 | $0.43 |
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 | $5.8B | ||
| Q3 25 | $3.8B | $6.6B | ||
| Q2 25 | $4.2B | $7.5B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $3.8B | $6.2B | ||
| Q3 24 | $3.2B | $7.0B | ||
| Q2 24 | $3.6B | $7.1B | ||
| Q1 24 | $3.4B | $5.6B |
| Q4 25 | $10.0M | $62.2M | ||
| Q3 25 | $-789.0M | $95.4M | ||
| Q2 25 | $37.0M | $210.4M | ||
| Q1 25 | $335.0M | $89.9M | ||
| Q4 24 | $156.0M | $125.4M | ||
| Q3 24 | $-114.0M | $132.8M | ||
| Q2 24 | $297.0M | $152.4M | ||
| Q1 24 | $-177.0M | $50.3M |
| Q4 25 | 44.5% | 10.2% | ||
| Q3 25 | 42.9% | 10.9% | ||
| Q2 25 | 46.8% | 11.8% | ||
| Q1 25 | 46.6% | 11.1% | ||
| Q4 24 | 48.2% | 10.9% | ||
| Q3 24 | 46.1% | 10.8% | ||
| Q2 24 | 49.2% | 11.1% | ||
| Q1 24 | 47.2% | 10.4% |
| Q4 25 | 5.4% | — | ||
| Q3 25 | -22.0% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 6.1% | 2.0% | ||
| Q4 24 | 7.4% | 2.7% | ||
| Q3 24 | 3.0% | 2.5% | ||
| Q2 24 | 10.2% | 2.9% | ||
| Q1 24 | 3.7% | 1.2% |
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | -20.8% | 1.4% | ||
| Q2 25 | 0.9% | 2.8% | ||
| Q1 25 | 9.1% | 1.5% | ||
| Q4 24 | 4.1% | 2.0% | ||
| Q3 24 | -3.5% | 1.9% | ||
| Q2 24 | 8.2% | 2.1% | ||
| Q1 24 | -5.2% | 0.9% |
| Q4 25 | $0.00 | $0.43 | ||
| Q3 25 | $-3.91 | $0.64 | ||
| Q2 25 | $0.59 | $1.38 | ||
| Q1 25 | $1.57 | $0.58 | ||
| Q4 24 | $0.47 | $0.81 | ||
| Q3 24 | $-0.58 | $0.85 | ||
| Q2 24 | $1.45 | $0.97 | ||
| Q1 24 | $-1.10 | $0.31 |
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 | $204.9M |
| Total DebtLower is stronger | $12.3B | $16.6B |
| Stockholders' EquityBook value | $9.0B | $6.1B |
| Total Assets | $29.3B | $25.6B |
| Debt / EquityLower = less leverage | 1.36× | 2.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $204.9M | ||
| Q3 25 | $1.7B | $540.4M | ||
| Q2 25 | $1.7B | $262.8M | ||
| Q1 25 | $1.5B | $247.0M | ||
| Q4 24 | $1.5B | $271.9M | ||
| Q3 24 | $1.5B | $524.7M | ||
| Q2 24 | $1.5B | $218.9M | ||
| Q1 24 | $1.4B | $574.1M |
| Q4 25 | $12.3B | $16.6B | ||
| Q3 25 | $12.1B | $17.8B | ||
| Q2 25 | $10.0B | $18.0B | ||
| Q1 25 | $6.8B | $18.1B | ||
| Q4 24 | $6.7B | $18.1B | ||
| Q3 24 | $6.9B | $18.1B | ||
| Q2 24 | $6.8B | $18.2B | ||
| Q1 24 | $6.8B | $18.0B |
| Q4 25 | $9.0B | $6.1B | ||
| Q3 25 | $9.2B | $6.2B | ||
| Q2 25 | $10.2B | $6.3B | ||
| Q1 25 | $9.9B | $6.2B | ||
| Q4 24 | $9.3B | $6.2B | ||
| Q3 24 | $10.2B | $6.2B | ||
| Q2 24 | $9.9B | $6.2B | ||
| Q1 24 | $9.5B | $6.1B |
| Q4 25 | $29.3B | $25.6B | ||
| Q3 25 | $29.3B | $27.1B | ||
| Q2 25 | $29.9B | $27.4B | ||
| Q1 25 | $24.8B | $27.4B | ||
| Q4 24 | $24.5B | $27.3B | ||
| Q3 24 | $25.5B | $27.3B | ||
| Q2 24 | $24.3B | $27.2B | ||
| Q1 24 | $24.4B | $27.2B |
| Q4 25 | 1.36× | 2.74× | ||
| Q3 25 | 1.31× | 2.87× | ||
| Q2 25 | 0.97× | 2.86× | ||
| Q1 25 | 0.69× | 2.91× | ||
| Q4 24 | 0.72× | 2.92× | ||
| Q3 24 | 0.67× | 2.93× | ||
| Q2 24 | 0.69× | 2.95× | ||
| Q1 24 | 0.72× | 2.96× |
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 | $1.3B |
| Free Cash FlowOCF − Capex | $392.0M | $1.1B |
| FCF MarginFCF / Revenue | 8.3% | 19.2% |
| Capex IntensityCapex / Revenue | 0.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 42.80× | 20.14× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.9B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $1.3B | ||
| Q3 25 | $209.0M | $785.5M | ||
| Q2 25 | $359.0M | $299.5M | ||
| Q1 25 | $188.0M | $146.4M | ||
| Q4 24 | $652.0M | $-23.4M | ||
| Q3 24 | $290.0M | $619.1M | ||
| Q2 24 | $323.0M | $-117.7M | ||
| Q1 24 | $337.0M | $309.6M |
| Q4 25 | $392.0M | $1.1B | ||
| Q3 25 | $196.0M | $654.0M | ||
| Q2 25 | $322.0M | $162.8M | ||
| Q1 25 | $169.0M | $18.8M | ||
| Q4 24 | $595.0M | $-150.6M | ||
| Q3 24 | $253.0M | $509.9M | ||
| Q2 24 | $295.0M | $-221.6M | ||
| Q1 24 | $315.0M | $199.8M |
| Q4 25 | 8.3% | 19.2% | ||
| Q3 25 | 5.2% | 9.9% | ||
| Q2 25 | 7.7% | 2.2% | ||
| Q1 25 | 4.6% | 0.3% | ||
| Q4 24 | 15.7% | -2.4% | ||
| Q3 24 | 7.8% | 7.3% | ||
| Q2 24 | 8.2% | -3.1% | ||
| Q1 24 | 9.3% | 3.6% |
| Q4 25 | 0.8% | 2.4% | ||
| Q3 25 | 0.3% | 2.0% | ||
| Q2 25 | 0.9% | 1.8% | ||
| Q1 25 | 0.5% | 2.1% | ||
| Q4 24 | 1.5% | 2.0% | ||
| Q3 24 | 1.1% | 1.6% | ||
| Q2 24 | 0.8% | 1.5% | ||
| Q1 24 | 0.6% | 2.0% |
| Q4 25 | 42.80× | 20.14× | ||
| Q3 25 | — | 8.24× | ||
| Q2 25 | 9.70× | 1.42× | ||
| Q1 25 | 0.56× | 1.63× | ||
| Q4 24 | 4.18× | -0.19× | ||
| Q3 24 | — | 4.66× | ||
| Q2 24 | 1.09× | -0.77× | ||
| Q1 24 | — | 6.16× |
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% |
KMX
| Used Vehicles | $4.5B | 78% |
| Wholesale Vehicles | $1.1B | 19% |
| Other | $150.6M | 3% |
| Extendedprotectionplan Domain | $96.6M | 2% |
| Advertising Subscription Revenues Domain | $35.1M | 1% |
| Service Domain | $18.5M | 0% |
| Thirdpartyfinancefees Domain | $3.0M | 0% |
