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Flutter Entertainment plc（FLUT）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是Flutter Entertainment plc的1.6倍（$7.6B vs $4.7B），Smurfit Westrock净利率更高（1.3% vs 0.2%，领先1.1%），Flutter Entertainment plc同比增速更快（24.9% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $392.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 18.1%）
Flutter Entertainment plc是爱尔兰裔美国跨国体育博彩及娱乐博彩企业，于纽约证券交易所主上市，同时在伦敦证券交易所第二上市，旗下拥有Betfair、FanDuel、Paddy Power、PokerStars、Sky Betting & Gaming、Sportsbet等知名品牌，是全球规模最大的在线博彩运营商。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
FLUT vs SW — 直观对比
营收规模更大
SW
是对方的1.6倍
$4.7B
营收增速更快
FLUT
高出24.4%
0.5%
净利率更高
SW
高出1.1%
0.2%
自由现金流更多
SW
多$220.0M
$392.0M
两年增速更快
SW
近两年复合增速
18.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $7.6B |
| 净利润 | $10.0M | $97.0M |
| 毛利率 | 44.5% | 18.2% |
| 营业利润率 | 5.4% | 5.1% |
| 净利率 | 0.2% | 1.3% |
| 营收同比 | 24.9% | 0.5% |
| 净利润同比 | -93.6% | -33.6% |
| 每股收益（稀释后） | $0.00 | $0.18 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FLUTSW
| 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 |
净利润FLUTSW
| 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 |
毛利率FLUTSW
| 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% |
营业利润率FLUTSW
| 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% |
净利率FLUTSW
| 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% |
每股收益（稀释后）FLUTSW
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.8B | $892.0M |
| 总债务越低越好 | $12.3B | $13.4B |
| 股东权益账面价值 | $9.0B | $18.3B |
| 总资产 | $29.3B | $45.2B |
| 负债/权益比越低杠杆越低 | 1.36× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资FLUTSW
| 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 |
总债务FLUTSW
| 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 | — |
股东权益FLUTSW
| 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 |
总资产FLUTSW
| 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 |
负债/权益比FLUTSW
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $428.0M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $392.0M | $612.0M |
| 自由现金流率自由现金流/营收 | 8.3% | 8.1% |
| 资本支出强度资本支出/营收 | 0.8% | 7.7% |
| 现金转化率经营现金流/净利润 | 42.80× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.2B |
8季度趋势，按日历期对齐
经营现金流FLUTSW
| 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 |
自由现金流FLUTSW
| 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 |
自由现金流率FLUTSW
| 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% |
资本支出强度FLUTSW
| 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% |
现金转化率FLUTSW
| 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× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
