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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and Royal Caribbean Group (RCL). Click either name above to swap in a different company.
Flutter Entertainment plc is the larger business by last-quarter revenue ($4.7B vs $4.3B, roughly 1.1× Royal Caribbean Group). Royal Caribbean Group runs the higher net margin — 17.7% vs 0.2%, a 17.5% gap on every dollar of revenue. On growth, Flutter Entertainment plc posted the faster year-over-year revenue change (24.9% vs 13.3%). Flutter Entertainment plc produced more free cash flow last quarter ($392.0M vs $116.0M). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% CAGR vs 6.9%).
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.
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
FLUT vs RCL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.3B |
| Net Profit | $10.0M | $753.0M |
| Gross Margin | 44.5% | 47.4% |
| Operating Margin | 5.4% | 21.9% |
| Net Margin | 0.2% | 17.7% |
| Revenue YoY | 24.9% | 13.3% |
| Net Profit YoY | -93.6% | 36.4% |
| EPS (diluted) | $0.00 | $2.76 |
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 | $4.3B | ||
| Q3 25 | $3.8B | $5.1B | ||
| Q2 25 | $4.2B | $4.5B | ||
| Q1 25 | $3.7B | $4.0B | ||
| Q4 24 | $3.8B | $3.8B | ||
| Q3 24 | $3.2B | $4.9B | ||
| Q2 24 | $3.6B | $4.1B | ||
| Q1 24 | $3.4B | $3.7B |
| Q4 25 | $10.0M | $753.0M | ||
| Q3 25 | $-789.0M | $1.6B | ||
| Q2 25 | $37.0M | $1.2B | ||
| Q1 25 | $335.0M | $730.0M | ||
| Q4 24 | $156.0M | $552.0M | ||
| Q3 24 | $-114.0M | $1.1B | ||
| Q2 24 | $297.0M | $854.0M | ||
| Q1 24 | $-177.0M | $360.0M |
| Q4 25 | 44.5% | 47.4% | ||
| Q3 25 | 42.9% | 51.8% | ||
| Q2 25 | 46.8% | 49.7% | ||
| Q1 25 | 46.6% | 48.0% | ||
| Q4 24 | 48.2% | 45.4% | ||
| Q3 24 | 46.1% | 51.1% | ||
| Q2 24 | 49.2% | 47.6% | ||
| Q1 24 | 47.2% | 44.8% |
| Q4 25 | 5.4% | 21.9% | ||
| Q3 25 | -22.0% | 33.1% | ||
| Q2 25 | 9.3% | 29.3% | ||
| Q1 25 | 6.1% | 23.6% | ||
| Q4 24 | 7.4% | 16.6% | ||
| Q3 24 | 3.0% | 33.4% | ||
| Q2 24 | 10.2% | 26.7% | ||
| Q1 24 | 3.7% | 20.1% |
| Q4 25 | 0.2% | 17.7% | ||
| Q3 25 | -20.8% | 30.6% | ||
| Q2 25 | 0.9% | 26.7% | ||
| Q1 25 | 9.1% | 18.3% | ||
| Q4 24 | 4.1% | 14.7% | ||
| Q3 24 | -3.5% | 22.7% | ||
| Q2 24 | 8.2% | 20.8% | ||
| Q1 24 | -5.2% | 9.7% |
| Q4 25 | $0.00 | $2.76 | ||
| Q3 25 | $-3.91 | $5.74 | ||
| Q2 25 | $0.59 | $4.41 | ||
| Q1 25 | $1.57 | $2.70 | ||
| Q4 24 | $0.47 | $2.27 | ||
| Q3 24 | $-0.58 | $4.21 | ||
| Q2 24 | $1.45 | $3.11 | ||
| Q1 24 | $-1.10 | $1.35 |
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 | $825.0M |
| Total DebtLower is stronger | $12.3B | $18.2B |
| Stockholders' EquityBook value | $9.0B | $10.0B |
| Total Assets | $29.3B | $41.6B |
| Debt / EquityLower = less leverage | 1.36× | 1.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $825.0M | ||
| Q3 25 | $1.7B | $432.0M | ||
| Q2 25 | $1.7B | $735.0M | ||
| Q1 25 | $1.5B | $386.0M | ||
| Q4 24 | $1.5B | $388.0M | ||
| Q3 24 | $1.5B | $418.0M | ||
| Q2 24 | $1.5B | $391.0M | ||
| Q1 24 | $1.4B | $437.0M |
| Q4 25 | $12.3B | $18.2B | ||
| Q3 25 | $12.1B | $17.2B | ||
| Q2 25 | $10.0B | $17.6B | ||
| Q1 25 | $6.8B | $18.0B | ||
| Q4 24 | $6.7B | $18.5B | ||
| Q3 24 | $6.9B | $19.0B | ||
| Q2 24 | $6.8B | $19.8B | ||
| Q1 24 | $6.8B | $18.9B |
| Q4 25 | $9.0B | $10.0B | ||
| Q3 25 | $9.2B | $10.1B | ||
| Q2 25 | $10.2B | $9.2B | ||
| Q1 25 | $9.9B | $8.0B | ||
| Q4 24 | $9.3B | $7.6B | ||
| Q3 24 | $10.2B | $7.0B | ||
| Q2 24 | $9.9B | $6.0B | ||
| Q1 24 | $9.5B | $5.2B |
| Q4 25 | $29.3B | $41.6B | ||
| Q3 25 | $29.3B | $40.1B | ||
| Q2 25 | $29.9B | $38.5B | ||
| Q1 25 | $24.8B | $37.5B | ||
| Q4 24 | $24.5B | $37.1B | ||
| Q3 24 | $25.5B | $37.1B | ||
| Q2 24 | $24.3B | $37.0B | ||
| Q1 24 | $24.4B | $35.2B |
| Q4 25 | 1.36× | 1.81× | ||
| Q3 25 | 1.31× | 1.70× | ||
| Q2 25 | 0.97× | 1.92× | ||
| Q1 25 | 0.69× | 2.26× | ||
| Q4 24 | 0.72× | 2.44× | ||
| Q3 24 | 0.67× | 2.69× | ||
| Q2 24 | 0.69× | 3.29× | ||
| Q1 24 | 0.72× | 3.66× |
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 | $1.6B |
| Free Cash FlowOCF − Capex | $392.0M | $116.0M |
| FCF MarginFCF / Revenue | 8.3% | 2.7% |
| Capex IntensityCapex / Revenue | 0.8% | 35.4% |
| Cash ConversionOCF / Net Profit | 42.80× | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $1.6B | ||
| Q3 25 | $209.0M | $1.5B | ||
| Q2 25 | $359.0M | $1.7B | ||
| Q1 25 | $188.0M | $1.6B | ||
| Q4 24 | $652.0M | $1.5B | ||
| Q3 24 | $290.0M | $897.0M | ||
| Q2 24 | $323.0M | $1.6B | ||
| Q1 24 | $337.0M | $1.3B |
| Q4 25 | $392.0M | $116.0M | ||
| Q3 25 | $196.0M | $-989.0M | ||
| Q2 25 | $322.0M | $910.0M | ||
| Q1 25 | $169.0M | $1.2B | ||
| Q4 24 | $595.0M | $915.0M | ||
| Q3 24 | $253.0M | $563.0M | ||
| Q2 24 | $295.0M | $-567.0M | ||
| Q1 24 | $315.0M | $1.1B |
| Q4 25 | 8.3% | 2.7% | ||
| Q3 25 | 5.2% | -19.2% | ||
| Q2 25 | 7.7% | 20.1% | ||
| Q1 25 | 4.6% | 30.0% | ||
| Q4 24 | 15.7% | 24.3% | ||
| Q3 24 | 7.8% | 11.5% | ||
| Q2 24 | 8.2% | -13.8% | ||
| Q1 24 | 9.3% | 29.1% |
| Q4 25 | 0.8% | 35.4% | ||
| Q3 25 | 0.3% | 47.8% | ||
| Q2 25 | 0.9% | 18.4% | ||
| Q1 25 | 0.5% | 10.7% | ||
| Q4 24 | 1.5% | 14.7% | ||
| Q3 24 | 1.1% | 6.8% | ||
| Q2 24 | 0.8% | 52.1% | ||
| Q1 24 | 0.6% | 6.5% |
| Q4 25 | 42.80× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 9.70× | 1.44× | ||
| Q1 25 | 0.56× | 2.23× | ||
| Q4 24 | 4.18× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.09× | 1.84× | ||
| Q1 24 | — | 3.69× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
