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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and Vistra Corp. (VST). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $4.7B, roughly 1.0× Flutter Entertainment plc). Vistra Corp. runs the higher net margin — 4.8% vs 0.2%, a 4.6% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 24.9%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $392.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
FLUT vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.8B |
| Net Profit | $10.0M | $233.0M |
| Gross Margin | 44.5% | — |
| Operating Margin | 5.4% | 9.9% |
| Net Margin | 0.2% | 4.8% |
| Revenue YoY | 24.9% | 31.2% |
| Net Profit YoY | -93.6% | -47.2% |
| EPS (diluted) | $0.00 | $0.55 |
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 | $4.8B | ||
| Q3 25 | $3.8B | $4.8B | ||
| Q2 25 | $4.2B | $3.8B | ||
| Q1 25 | $3.7B | $4.3B | ||
| Q4 24 | $3.8B | $3.7B | ||
| Q3 24 | $3.2B | $4.3B | ||
| Q2 24 | $3.6B | $3.6B | ||
| Q1 24 | $3.4B | $3.2B |
| Q4 25 | $10.0M | $233.0M | ||
| Q3 25 | $-789.0M | $652.0M | ||
| Q2 25 | $37.0M | $327.0M | ||
| Q1 25 | $335.0M | $-268.0M | ||
| Q4 24 | $156.0M | $441.0M | ||
| Q3 24 | $-114.0M | $1.9B | ||
| Q2 24 | $297.0M | $365.0M | ||
| Q1 24 | $-177.0M | $-35.0M |
| 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% | 9.9% | ||
| Q3 25 | -22.0% | 21.7% | ||
| Q2 25 | 9.3% | 13.7% | ||
| Q1 25 | 6.1% | -2.8% | ||
| Q4 24 | 7.4% | 16.4% | ||
| Q3 24 | 3.0% | 59.6% | ||
| Q2 24 | 10.2% | 22.5% | ||
| Q1 24 | 3.7% | 2.7% |
| Q4 25 | 0.2% | 4.8% | ||
| Q3 25 | -20.8% | 13.6% | ||
| Q2 25 | 0.9% | 8.7% | ||
| Q1 25 | 9.1% | -6.3% | ||
| Q4 24 | 4.1% | 12.0% | ||
| Q3 24 | -3.5% | 43.5% | ||
| Q2 24 | 8.2% | 10.1% | ||
| Q1 24 | -5.2% | -1.1% |
| Q4 25 | $0.00 | $0.55 | ||
| Q3 25 | $-3.91 | $1.75 | ||
| Q2 25 | $0.59 | $0.81 | ||
| Q1 25 | $1.57 | $-0.93 | ||
| Q4 24 | $0.47 | $1.09 | ||
| Q3 24 | $-0.58 | $5.25 | ||
| Q2 24 | $1.45 | $0.90 | ||
| Q1 24 | $-1.10 | $-0.24 |
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 | $785.0M |
| Total DebtLower is stronger | $12.3B | $15.8B |
| Stockholders' EquityBook value | $9.0B | $5.1B |
| Total Assets | $29.3B | $41.5B |
| Debt / EquityLower = less leverage | 1.36× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | $785.0M | ||
| Q3 25 | $1.7B | $602.0M | ||
| Q2 25 | $1.7B | $458.0M | ||
| Q1 25 | $1.5B | $561.0M | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.5B | $905.0M | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | $12.3B | $15.8B | ||
| Q3 25 | $12.1B | $15.8B | ||
| Q2 25 | $10.0B | $15.5B | ||
| Q1 25 | $6.8B | $15.4B | ||
| Q4 24 | $6.7B | $15.4B | ||
| Q3 24 | $6.9B | $13.9B | ||
| Q2 24 | $6.8B | $13.9B | ||
| Q1 24 | $6.8B | $14.7B |
| Q4 25 | $9.0B | $5.1B | ||
| Q3 25 | $9.2B | $5.2B | ||
| Q2 25 | $10.2B | $4.8B | ||
| Q1 25 | $9.9B | $4.8B | ||
| Q4 24 | $9.3B | $5.6B | ||
| Q3 24 | $10.2B | $5.4B | ||
| Q2 24 | $9.9B | $5.6B | ||
| Q1 24 | $9.5B | $5.7B |
| Q4 25 | $29.3B | $41.5B | ||
| Q3 25 | $29.3B | $38.0B | ||
| Q2 25 | $29.9B | $38.1B | ||
| Q1 25 | $24.8B | $38.2B | ||
| Q4 24 | $24.5B | $37.8B | ||
| Q3 24 | $25.5B | $37.9B | ||
| Q2 24 | $24.3B | $39.1B | ||
| Q1 24 | $24.4B | $38.2B |
| Q4 25 | 1.36× | 3.11× | ||
| Q3 25 | 1.31× | 3.02× | ||
| Q2 25 | 0.97× | 3.22× | ||
| Q1 25 | 0.69× | 3.20× | ||
| Q4 24 | 0.72× | 2.77× | ||
| Q3 24 | 0.67× | 2.56× | ||
| Q2 24 | 0.69× | 2.49× | ||
| Q1 24 | 0.72× | 2.60× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $392.0M | $596.0M |
| FCF MarginFCF / Revenue | 8.3% | 12.4% |
| Capex IntensityCapex / Revenue | 0.8% | 17.4% |
| Cash ConversionOCF / Net Profit | 42.80× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $1.4B | ||
| Q3 25 | $209.0M | $1.5B | ||
| Q2 25 | $359.0M | $572.0M | ||
| Q1 25 | $188.0M | $599.0M | ||
| Q4 24 | $652.0M | $1.4B | ||
| Q3 24 | $290.0M | $1.7B | ||
| Q2 24 | $323.0M | $1.2B | ||
| Q1 24 | $337.0M | $312.0M |
| Q4 25 | $392.0M | $596.0M | ||
| Q3 25 | $196.0M | $1.0B | ||
| Q2 25 | $322.0M | $-118.0M | ||
| Q1 25 | $169.0M | $-169.0M | ||
| Q4 24 | $595.0M | $923.0M | ||
| Q3 24 | $253.0M | $1.0B | ||
| Q2 24 | $295.0M | $698.0M | ||
| Q1 24 | $315.0M | $-153.0M |
| Q4 25 | 8.3% | 12.4% | ||
| Q3 25 | 5.2% | 21.1% | ||
| Q2 25 | 7.7% | -3.1% | ||
| Q1 25 | 4.6% | -4.0% | ||
| Q4 24 | 15.7% | 25.2% | ||
| Q3 24 | 7.8% | 23.4% | ||
| Q2 24 | 8.2% | 19.4% | ||
| Q1 24 | 9.3% | -4.8% |
| Q4 25 | 0.8% | 17.4% | ||
| Q3 25 | 0.3% | 9.6% | ||
| Q2 25 | 0.9% | 18.4% | ||
| Q1 25 | 0.5% | 18.1% | ||
| Q4 24 | 1.5% | 11.7% | ||
| Q3 24 | 1.1% | 15.8% | ||
| Q2 24 | 0.8% | 13.8% | ||
| Q1 24 | 0.6% | 14.7% |
| Q4 25 | 42.80× | 6.15× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | 9.70× | 1.75× | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 4.18× | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | 1.09× | 3.28× | ||
| 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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
