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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $4.7B, roughly 1.6× Flutter Entertainment plc). Smurfit Westrock runs the higher net margin — 1.3% vs 0.2%, a 1.1% gap on every dollar of revenue. On growth, Flutter Entertainment plc posted the faster year-over-year revenue change (24.9% vs 0.5%). Smurfit Westrock produced more free cash flow last quarter ($612.0M vs $392.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% 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.
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
FLUT vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $7.6B |
| Net Profit | $10.0M | $97.0M |
| Gross Margin | 44.5% | 18.2% |
| Operating Margin | 5.4% | 5.1% |
| Net Margin | 0.2% | 1.3% |
| Revenue YoY | 24.9% | 0.5% |
| Net Profit YoY | -93.6% | -33.6% |
| EPS (diluted) | $0.00 | $0.18 |
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 | $7.6B | ||
| Q3 25 | $3.8B | $8.0B | ||
| Q2 25 | $4.2B | $7.9B | ||
| Q1 25 | $3.7B | $7.7B | ||
| Q4 24 | $3.8B | $7.5B | ||
| Q3 24 | $3.2B | $7.7B | ||
| Q2 24 | $3.6B | $3.0B | ||
| Q1 24 | $3.4B | $2.9B |
| Q4 25 | $10.0M | $97.0M | ||
| Q3 25 | $-789.0M | $246.0M | ||
| Q2 25 | $37.0M | $-28.0M | ||
| Q1 25 | $335.0M | $384.0M | ||
| Q4 24 | $156.0M | $146.0M | ||
| Q3 24 | $-114.0M | $-150.0M | ||
| Q2 24 | $297.0M | $132.0M | ||
| Q1 24 | $-177.0M | $191.0M |
| Q4 25 | 44.5% | 18.2% | ||
| Q3 25 | 42.9% | 19.6% | ||
| Q2 25 | 46.8% | 19.1% | ||
| Q1 25 | 46.6% | 20.6% | ||
| Q4 24 | 48.2% | 19.1% | ||
| Q3 24 | 46.1% | 17.6% | ||
| Q2 24 | 49.2% | 23.3% | ||
| Q1 24 | 47.2% | 24.2% |
| Q4 25 | 5.4% | 5.1% | ||
| Q3 25 | -22.0% | 6.6% | ||
| Q2 25 | 9.3% | 3.2% | ||
| Q1 25 | 6.1% | 7.2% | ||
| Q4 24 | 7.4% | 5.3% | ||
| Q3 24 | 3.0% | 0.7% | ||
| Q2 24 | 10.2% | 8.2% | ||
| Q1 24 | 3.7% | 10.5% |
| Q4 25 | 0.2% | 1.3% | ||
| Q3 25 | -20.8% | 3.1% | ||
| Q2 25 | 0.9% | -0.4% | ||
| Q1 25 | 9.1% | 5.0% | ||
| Q4 24 | 4.1% | 1.9% | ||
| Q3 24 | -3.5% | -2.0% | ||
| Q2 24 | 8.2% | 4.4% | ||
| Q1 24 | -5.2% | 6.5% |
| Q4 25 | $0.00 | $0.18 | ||
| Q3 25 | $-3.91 | $0.47 | ||
| Q2 25 | $0.59 | $-0.05 | ||
| Q1 25 | $1.57 | $0.73 | ||
| Q4 24 | $0.47 | $-0.12 | ||
| Q3 24 | $-0.58 | $-0.30 | ||
| Q2 24 | $1.45 | $0.51 | ||
| Q1 24 | $-1.10 | $0.73 |
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 | $892.0M |
| Total DebtLower is stronger | $12.3B | $13.4B |
| Stockholders' EquityBook value | $9.0B | $18.3B |
| Total Assets | $29.3B | $45.2B |
| Debt / EquityLower = less leverage | 1.36× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $892.0M | ||
| Q3 25 | $1.7B | $851.0M | ||
| Q2 25 | $1.7B | $778.0M | ||
| Q1 25 | $1.5B | $797.0M | ||
| Q4 24 | $1.5B | $855.0M | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | $26.8K | ||
| Q1 24 | $1.4B | $108 |
| Q4 25 | $12.3B | $13.4B | ||
| Q3 25 | $12.1B | $13.3B | ||
| Q2 25 | $10.0B | $13.3B | ||
| Q1 25 | $6.8B | $12.9B | ||
| Q4 24 | $6.7B | $12.5B | ||
| Q3 24 | $6.9B | $13.2B | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $6.8B | — |
| Q4 25 | $9.0B | $18.3B | ||
| Q3 25 | $9.2B | $18.4B | ||
| Q2 25 | $10.2B | $18.3B | ||
| Q1 25 | $9.9B | $17.9B | ||
| Q4 24 | $9.3B | $17.4B | ||
| Q3 24 | $10.2B | $18.0B | ||
| Q2 24 | $9.9B | $14.5K | ||
| Q1 24 | $9.5B | $108 |
| Q4 25 | $29.3B | $45.2B | ||
| Q3 25 | $29.3B | $45.6B | ||
| Q2 25 | $29.9B | $45.7B | ||
| Q1 25 | $24.8B | $44.6B | ||
| Q4 24 | $24.5B | $43.8B | ||
| Q3 24 | $25.5B | $45.0B | ||
| Q2 24 | $24.3B | $26.8K | ||
| Q1 24 | $24.4B | $108 |
| Q4 25 | 1.36× | 0.73× | ||
| Q3 25 | 1.31× | 0.72× | ||
| Q2 25 | 0.97× | 0.73× | ||
| Q1 25 | 0.69× | 0.72× | ||
| Q4 24 | 0.72× | 0.72× | ||
| Q3 24 | 0.67× | 0.73× | ||
| 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 | $1.2B |
| Free Cash FlowOCF − Capex | $392.0M | $612.0M |
| FCF MarginFCF / Revenue | 8.3% | 8.1% |
| Capex IntensityCapex / Revenue | 0.8% | 7.7% |
| Cash ConversionOCF / Net Profit | 42.80× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $1.2B | ||
| Q3 25 | $209.0M | $1.1B | ||
| Q2 25 | $359.0M | $829.0M | ||
| Q1 25 | $188.0M | $235.0M | ||
| Q4 24 | $652.0M | $781.0M | ||
| Q3 24 | $290.0M | $320.0M | ||
| Q2 24 | $323.0M | $340.0M | ||
| Q1 24 | $337.0M | $42.0M |
| Q4 25 | $392.0M | $612.0M | ||
| Q3 25 | $196.0M | $523.0M | ||
| Q2 25 | $322.0M | $307.0M | ||
| Q1 25 | $169.0M | $-242.0M | ||
| Q4 24 | $595.0M | $212.0M | ||
| Q3 24 | $253.0M | $-192.0M | ||
| Q2 24 | $295.0M | $163.0M | ||
| Q1 24 | $315.0M | $-166.0M |
| Q4 25 | 8.3% | 8.1% | ||
| Q3 25 | 5.2% | 6.5% | ||
| Q2 25 | 7.7% | 3.9% | ||
| Q1 25 | 4.6% | -3.2% | ||
| Q4 24 | 15.7% | 2.8% | ||
| Q3 24 | 7.8% | -2.5% | ||
| Q2 24 | 8.2% | 5.5% | ||
| Q1 24 | 9.3% | -5.7% |
| Q4 25 | 0.8% | 7.7% | ||
| Q3 25 | 0.3% | 7.6% | ||
| Q2 25 | 0.9% | 6.6% | ||
| Q1 25 | 0.5% | 6.2% | ||
| Q4 24 | 1.5% | 7.5% | ||
| Q3 24 | 1.1% | 6.7% | ||
| Q2 24 | 0.8% | 6.0% | ||
| Q1 24 | 0.6% | 7.1% |
| Q4 25 | 42.80× | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 9.70× | — | ||
| Q1 25 | 0.56× | 0.61× | ||
| Q4 24 | 4.18× | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.09× | 2.58× | ||
| Q1 24 | — | 0.22× |
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% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
