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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and Sea Ltd (SE). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $4.7B, roughly 4.8× Flutter Entertainment plc). Sea Ltd runs the higher net margin — 7.0% vs 0.2%, a 6.8% gap on every dollar of revenue. On growth, Sea Ltd posted the faster year-over-year revenue change (363.4% vs 24.9%). Over the past eight quarters, Sea Ltd's revenue compounded faster (147.8% CAGR vs 18.1%).
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.
Sea Limited is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
FLUT vs SE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $22.9B |
| Net Profit | $10.0M | $1.6B |
| Gross Margin | 44.5% | 44.7% |
| Operating Margin | 5.4% | 8.7% |
| Net Margin | 0.2% | 7.0% |
| Revenue YoY | 24.9% | 363.4% |
| Net Profit YoY | -93.6% | — |
| EPS (diluted) | $0.00 | $2.52 |
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 | $22.9B | ||
| Q3 25 | $3.8B | $6.0B | ||
| Q2 25 | $4.2B | $5.3B | ||
| Q1 25 | $3.7B | $4.8B | ||
| Q4 24 | $3.8B | $5.0B | ||
| Q3 24 | $3.2B | $4.3B | ||
| Q2 24 | $3.6B | $3.8B | ||
| Q1 24 | $3.4B | $3.7B |
| Q4 25 | $10.0M | $1.6B | ||
| Q3 25 | $-789.0M | $375.0M | ||
| Q2 25 | $37.0M | $414.2M | ||
| Q1 25 | $335.0M | $-7.8M | ||
| Q4 24 | $156.0M | — | ||
| Q3 24 | $-114.0M | — | ||
| Q2 24 | $297.0M | — | ||
| Q1 24 | $-177.0M | $-23.0M |
| Q4 25 | 44.5% | 44.7% | ||
| Q3 25 | 42.9% | 43.4% | ||
| Q2 25 | 46.8% | 45.8% | ||
| Q1 25 | 46.6% | 46.2% | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.1% | — | ||
| Q2 24 | 49.2% | — | ||
| Q1 24 | 47.2% | 41.6% |
| Q4 25 | 5.4% | 8.7% | ||
| Q3 25 | -22.0% | 8.0% | ||
| Q2 25 | 9.3% | 9.3% | ||
| Q1 25 | 6.1% | 9.4% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | 3.7% | 1.9% |
| Q4 25 | 0.2% | 7.0% | ||
| Q3 25 | -20.8% | 6.3% | ||
| Q2 25 | 0.9% | 7.9% | ||
| Q1 25 | 9.1% | -0.2% | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | -3.5% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | -5.2% | -0.6% |
| Q4 25 | $0.00 | $2.52 | ||
| Q3 25 | $-3.91 | $0.59 | ||
| Q2 25 | $0.59 | $0.65 | ||
| Q1 25 | $1.57 | $0.65 | ||
| 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 | $10.6B |
| Total DebtLower is stronger | $12.3B | — |
| Stockholders' EquityBook value | $9.0B | $12.6B |
| Total Assets | $29.3B | $29.4B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $10.6B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | $8.6B | ||
| 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 | $12.6B | ||
| Q3 25 | $9.2B | — | ||
| Q2 25 | $10.2B | — | ||
| Q1 25 | $9.9B | — | ||
| Q4 24 | $9.3B | $8.4B | ||
| Q3 24 | $10.2B | — | ||
| Q2 24 | $9.9B | — | ||
| Q1 24 | $9.5B | — |
| Q4 25 | $29.3B | $29.4B | ||
| Q3 25 | $29.3B | — | ||
| Q2 25 | $29.9B | — | ||
| Q1 25 | $24.8B | — | ||
| Q4 24 | $24.5B | $22.6B | ||
| Q3 24 | $25.5B | — | ||
| Q2 24 | $24.3B | — | ||
| Q1 24 | $24.4B | — |
| 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 | $5.0B |
| Free Cash FlowOCF − Capex | $392.0M | — |
| FCF MarginFCF / Revenue | 8.3% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 42.80× | 3.12× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $5.0B | ||
| Q3 25 | $209.0M | $3.5B | ||
| Q2 25 | $359.0M | $2.4B | ||
| Q1 25 | $188.0M | $756.9M | ||
| Q4 24 | $652.0M | — | ||
| Q3 24 | $290.0M | — | ||
| Q2 24 | $323.0M | — | ||
| Q1 24 | $337.0M | $468.5M |
| 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× | 3.12× | ||
| Q3 25 | — | 9.46× | ||
| Q2 25 | 9.70× | 5.73× | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 4.18× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.09× | — | ||
| Q1 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% |
SE
Segment breakdown not available.
