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Side-by-side financial comparison of Flutter Entertainment plc (FLUT) and Zoetis (ZTS). Click either name above to swap in a different company.
Flutter Entertainment plc is the larger business by last-quarter revenue ($4.7B vs $2.4B, roughly 2.0× Zoetis). Zoetis runs the higher net margin — 25.3% vs 0.2%, a 25.1% gap on every dollar of revenue. On growth, Flutter Entertainment plc posted the faster year-over-year revenue change (24.9% vs 3.0%). Zoetis produced more free cash flow last quarter ($732.0M vs $392.0M). Over the past eight quarters, Flutter Entertainment plc's revenue compounded faster (18.1% CAGR vs 4.4%).
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.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
FLUT vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $2.4B |
| Net Profit | $10.0M | $603.0M |
| Gross Margin | 44.5% | 70.2% |
| Operating Margin | 5.4% | 31.9% |
| Net Margin | 0.2% | 25.3% |
| Revenue YoY | 24.9% | 3.0% |
| Net Profit YoY | -93.6% | 3.8% |
| EPS (diluted) | $0.00 | $1.37 |
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 | $2.4B | ||
| Q3 25 | $3.8B | $2.4B | ||
| Q2 25 | $4.2B | $2.5B | ||
| Q1 25 | $3.7B | $2.2B | ||
| Q4 24 | $3.8B | $2.3B | ||
| Q3 24 | $3.2B | $2.4B | ||
| Q2 24 | $3.6B | $2.4B | ||
| Q1 24 | $3.4B | $2.2B |
| Q4 25 | $10.0M | $603.0M | ||
| Q3 25 | $-789.0M | $721.0M | ||
| Q2 25 | $37.0M | $718.0M | ||
| Q1 25 | $335.0M | $631.0M | ||
| Q4 24 | $156.0M | $581.0M | ||
| Q3 24 | $-114.0M | $682.0M | ||
| Q2 24 | $297.0M | $624.0M | ||
| Q1 24 | $-177.0M | $599.0M |
| Q4 25 | 44.5% | 70.2% | ||
| Q3 25 | 42.9% | 71.5% | ||
| Q2 25 | 46.8% | 73.6% | ||
| Q1 25 | 46.6% | 72.0% | ||
| Q4 24 | 48.2% | 69.5% | ||
| Q3 24 | 46.1% | 70.6% | ||
| Q2 24 | 49.2% | 71.7% | ||
| Q1 24 | 47.2% | 70.6% |
| Q4 25 | 5.4% | 31.9% | ||
| Q3 25 | -22.0% | 37.0% | ||
| Q2 25 | 9.3% | 36.7% | ||
| Q1 25 | 6.1% | 36.5% | ||
| Q4 24 | 7.4% | 31.6% | ||
| Q3 24 | 3.0% | 36.6% | ||
| Q2 24 | 10.2% | 33.0% | ||
| Q1 24 | 3.7% | 34.1% |
| Q4 25 | 0.2% | 25.3% | ||
| Q3 25 | -20.8% | 30.0% | ||
| Q2 25 | 0.9% | 29.2% | ||
| Q1 25 | 9.1% | 28.4% | ||
| Q4 24 | 4.1% | 25.1% | ||
| Q3 24 | -3.5% | 28.6% | ||
| Q2 24 | 8.2% | 26.4% | ||
| Q1 24 | -5.2% | 27.4% |
| Q4 25 | $0.00 | $1.37 | ||
| Q3 25 | $-3.91 | $1.63 | ||
| Q2 25 | $0.59 | $1.61 | ||
| Q1 25 | $1.57 | $1.41 | ||
| Q4 24 | $0.47 | $1.29 | ||
| Q3 24 | $-0.58 | $1.50 | ||
| Q2 24 | $1.45 | $1.37 | ||
| Q1 24 | $-1.10 | $1.31 |
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 | — |
| Total DebtLower is stronger | $12.3B | — |
| Stockholders' EquityBook value | $9.0B | $3.3B |
| Total Assets | $29.3B | $15.5B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.5B | $1.7B | ||
| Q4 24 | $1.5B | $2.0B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.4B | $2.0B |
| 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 | $3.3B | ||
| Q3 25 | $9.2B | $5.4B | ||
| Q2 25 | $10.2B | $5.0B | ||
| Q1 25 | $9.9B | $4.7B | ||
| Q4 24 | $9.3B | $4.8B | ||
| Q3 24 | $10.2B | $5.2B | ||
| Q2 24 | $9.9B | $5.0B | ||
| Q1 24 | $9.5B | $5.1B |
| Q4 25 | $29.3B | $15.5B | ||
| Q3 25 | $29.3B | $15.2B | ||
| Q2 25 | $29.9B | $14.5B | ||
| Q1 25 | $24.8B | $14.1B | ||
| Q4 24 | $24.5B | $14.2B | ||
| Q3 24 | $25.5B | $14.4B | ||
| Q2 24 | $24.3B | $14.2B | ||
| Q1 24 | $24.4B | $14.3B |
| 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 | $893.0M |
| Free Cash FlowOCF − Capex | $392.0M | $732.0M |
| FCF MarginFCF / Revenue | 8.3% | 30.7% |
| Capex IntensityCapex / Revenue | 0.8% | 6.7% |
| Cash ConversionOCF / Net Profit | 42.80× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $893.0M | ||
| Q3 25 | $209.0M | $938.0M | ||
| Q2 25 | $359.0M | $486.0M | ||
| Q1 25 | $188.0M | $587.0M | ||
| Q4 24 | $652.0M | $905.0M | ||
| Q3 24 | $290.0M | $951.0M | ||
| Q2 24 | $323.0M | $502.0M | ||
| Q1 24 | $337.0M | $595.0M |
| Q4 25 | $392.0M | $732.0M | ||
| Q3 25 | $196.0M | $805.0M | ||
| Q2 25 | $322.0M | $308.0M | ||
| Q1 25 | $169.0M | $438.0M | ||
| Q4 24 | $595.0M | $689.0M | ||
| Q3 24 | $253.0M | $784.0M | ||
| Q2 24 | $295.0M | $370.0M | ||
| Q1 24 | $315.0M | $455.0M |
| Q4 25 | 8.3% | 30.7% | ||
| Q3 25 | 5.2% | 33.5% | ||
| Q2 25 | 7.7% | 12.5% | ||
| Q1 25 | 4.6% | 19.7% | ||
| Q4 24 | 15.7% | 29.7% | ||
| Q3 24 | 7.8% | 32.8% | ||
| Q2 24 | 8.2% | 15.7% | ||
| Q1 24 | 9.3% | 20.8% |
| Q4 25 | 0.8% | 6.7% | ||
| Q3 25 | 0.3% | 5.5% | ||
| Q2 25 | 0.9% | 7.2% | ||
| Q1 25 | 0.5% | 6.7% | ||
| Q4 24 | 1.5% | 9.3% | ||
| Q3 24 | 1.1% | 7.0% | ||
| Q2 24 | 0.8% | 5.6% | ||
| Q1 24 | 0.6% | 6.4% |
| Q4 25 | 42.80× | 1.48× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 9.70× | 0.68× | ||
| Q1 25 | 0.56× | 0.93× | ||
| Q4 24 | 4.18× | 1.56× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | 1.09× | 0.80× | ||
| Q1 24 | — | 0.99× |
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% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
