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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
REINSURANCE GROUP OF AMERICA INC is the larger business by last-quarter revenue ($6.6B vs $4.7B, roughly 1.4× Flutter Entertainment plc). REINSURANCE GROUP OF AMERICA INC runs the higher net margin — 7.0% vs 0.2%, a 6.8% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 24.9%). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% CAGR vs 2.3%).
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.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
FLUT vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $6.6B |
| Net Profit | $10.0M | $463.0M |
| Gross Margin | 44.5% | — |
| Operating Margin | 5.4% | 7.7% |
| Net Margin | 0.2% | 7.0% |
| Revenue YoY | 24.9% | 26.6% |
| Net Profit YoY | -93.6% | 212.8% |
| EPS (diluted) | $0.00 | $6.91 |
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 | $6.6B | ||
| Q3 25 | $3.8B | $6.2B | ||
| Q2 25 | $4.2B | $5.6B | ||
| Q1 25 | $3.7B | $5.3B | ||
| Q4 24 | $3.8B | $5.2B | ||
| Q3 24 | $3.2B | $5.7B | ||
| Q2 24 | $3.6B | $4.9B | ||
| Q1 24 | $3.4B | $6.3B |
| Q4 25 | $10.0M | $463.0M | ||
| Q3 25 | $-789.0M | $253.0M | ||
| Q2 25 | $37.0M | $180.0M | ||
| Q1 25 | $335.0M | $286.0M | ||
| Q4 24 | $156.0M | $148.0M | ||
| Q3 24 | $-114.0M | $156.0M | ||
| Q2 24 | $297.0M | $203.0M | ||
| Q1 24 | $-177.0M | $210.0M |
| 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% | 7.7% | ||
| Q3 25 | -22.0% | 5.2% | ||
| Q2 25 | 9.3% | 6.1% | ||
| Q1 25 | 6.1% | 7.0% | ||
| Q4 24 | 7.4% | 4.3% | ||
| Q3 24 | 3.0% | 3.8% | ||
| Q2 24 | 10.2% | 5.5% | ||
| Q1 24 | 3.7% | 4.3% |
| Q4 25 | 0.2% | 7.0% | ||
| Q3 25 | -20.8% | 4.1% | ||
| Q2 25 | 0.9% | 3.2% | ||
| Q1 25 | 9.1% | 5.4% | ||
| Q4 24 | 4.1% | 2.8% | ||
| Q3 24 | -3.5% | 2.8% | ||
| Q2 24 | 8.2% | 4.2% | ||
| Q1 24 | -5.2% | 3.3% |
| Q4 25 | $0.00 | $6.91 | ||
| Q3 25 | $-3.91 | $3.81 | ||
| Q2 25 | $0.59 | $2.70 | ||
| Q1 25 | $1.57 | $4.27 | ||
| Q4 24 | $0.47 | $2.21 | ||
| Q3 24 | $-0.58 | $2.33 | ||
| Q2 24 | $1.45 | $3.03 | ||
| Q1 24 | $-1.10 | $3.16 |
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 | $4.2B |
| Total DebtLower is stronger | $12.3B | $5.7B |
| Stockholders' EquityBook value | $9.0B | $13.5B |
| Total Assets | $29.3B | $156.6B |
| Debt / EquityLower = less leverage | 1.36× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $4.2B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.7B | $5.4B | ||
| Q1 25 | $1.5B | $5.2B | ||
| Q4 24 | $1.5B | $3.3B | ||
| Q3 24 | $1.5B | $5.2B | ||
| Q2 24 | $1.5B | $4.6B | ||
| Q1 24 | $1.4B | $5.9B |
| Q4 25 | $12.3B | $5.7B | ||
| Q3 25 | $12.1B | $5.7B | ||
| Q2 25 | $10.0B | $5.7B | ||
| Q1 25 | $6.8B | $5.7B | ||
| Q4 24 | $6.7B | $5.0B | ||
| Q3 24 | $6.9B | $5.1B | ||
| Q2 24 | $6.8B | $5.1B | ||
| Q1 24 | $6.8B | $4.4B |
| Q4 25 | $9.0B | $13.5B | ||
| Q3 25 | $9.2B | $13.0B | ||
| Q2 25 | $10.2B | $12.1B | ||
| Q1 25 | $9.9B | $11.4B | ||
| Q4 24 | $9.3B | $10.8B | ||
| Q3 24 | $10.2B | $11.1B | ||
| Q2 24 | $9.9B | $9.7B | ||
| Q1 24 | $9.5B | $9.5B |
| Q4 25 | $29.3B | $156.6B | ||
| Q3 25 | $29.3B | $152.0B | ||
| Q2 25 | $29.9B | $133.5B | ||
| Q1 25 | $24.8B | $128.2B | ||
| Q4 24 | $24.5B | $118.7B | ||
| Q3 24 | $25.5B | $120.3B | ||
| Q2 24 | $24.3B | $109.9B | ||
| Q1 24 | $24.4B | $106.0B |
| Q4 25 | 1.36× | 0.42× | ||
| Q3 25 | 1.31× | 0.44× | ||
| Q2 25 | 0.97× | 0.48× | ||
| Q1 25 | 0.69× | 0.50× | ||
| Q4 24 | 0.72× | 0.47× | ||
| Q3 24 | 0.67× | 0.46× | ||
| Q2 24 | 0.69× | 0.52× | ||
| Q1 24 | 0.72× | 0.47× |
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 | $7.3B |
| Free Cash FlowOCF − Capex | $392.0M | — |
| FCF MarginFCF / Revenue | 8.3% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 42.80× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $7.3B | ||
| Q3 25 | $209.0M | $-990.0M | ||
| Q2 25 | $359.0M | $-820.0M | ||
| Q1 25 | $188.0M | $-1.4B | ||
| Q4 24 | $652.0M | $17.1B | ||
| Q3 24 | $290.0M | $-1.1B | ||
| Q2 24 | $323.0M | $-967.0M | ||
| Q1 24 | $337.0M | $-5.7B |
| 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× | 15.83× | ||
| Q3 25 | — | -3.91× | ||
| Q2 25 | 9.70× | -4.56× | ||
| Q1 25 | 0.56× | -5.00× | ||
| Q4 24 | 4.18× | 115.81× | ||
| Q3 24 | — | -6.84× | ||
| Q2 24 | 1.09× | -4.76× | ||
| Q1 24 | — | -27.31× |
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% |
RGA
Segment breakdown not available.
