Flutter Entertainment (LSE:FLTR) Operating Income : £-433 Mil (TTM As of Dec. 2023)

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What is Flutter Entertainment Operating Income?

Flutter Entertainment's Operating Income for the six months ended in Dec. 2023 was £-647 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was £-433 Mil.

Warning Sign:

Flutter Entertainment PLC has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Flutter Entertainment's Operating Income for the six months ended in Dec. 2023 was £-647 Mil. Flutter Entertainment's Revenue for the six months ended in Dec. 2023 was £4,523 Mil. Therefore, Flutter Entertainment's Operating Margin % for the quarter that ended in Dec. 2023 was -14.30%.

Flutter Entertainment's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Flutter Entertainment's annualized ROC % for the quarter that ended in Dec. 2023 was -7.74%. Flutter Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -219.12%.

Flutter Entertainment Operating Income Historical Data

The historical data trend for Flutter Entertainment's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Flutter Entertainment Operating Income Chart

Flutter Entertainment Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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167.57

127.86

-337.65

-72.25

-433.71

Flutter Entertainment Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															-506.15	3.35	-75.63	213.58	-646.75

Flutter Entertainment Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-433 Mil.

Flutter Entertainment (LSE:FLTR) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Flutter Entertainment's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-1293.494 * ( 1 - -14.83% )	/	( (19226.552	+	19151.97)	/ 2 )
=	-1485.3191602	/	19189.261
=	-7.74 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	19300.574	-	589.582	-	( 1827.685	-	max(0, 2691.18	-	2175.62	+	1827.685	))
=	19226.552

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	19461.65	-	744.18	-	( 2702.59	-	max(0, 3575.54	-	3141.04	+	2702.59	))
=	19151.97

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Flutter Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-1500.346	/	( ( (658.41 + max(-2278.612, 0))	+	(711 + max(-3238.21, 0)) )	/	2 )
=	-1500.346	/	( ( 658.41	+	711 )	/	2 )
=	-1500.346	/	684.705
=	-219.12 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.254	+	0	+	251.936)	-	(589.582	+	0	+	1985.22)
=	-2278.612

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(71.1	+	0	+	128.77)	-	(744.18	+	0	+	2693.9)
=	-3238.21

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Flutter Entertainment's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	-646.747	/	4522.664
	=	-14.30 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Flutter Entertainment Operating Income Related Terms

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Flutter Entertainment (LSE:FLTR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Flutter Entertainment PLC (LSE:FLTR) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

PDYPY:USA PDYPF:USA FLTR:Ireland FLTRl:UK PPB:Germany

Address

Beech Hill Road, Belfield Office Park, Clonskeagh, Dublin, IRL, 4

Website

https://www.flutter.com

Flutter Entertainment PLC is a global sports betting, gaming, and entertainment provider. The company's segments include PBB Online, which provides betting apps in over 100 countries as well as business-to-business risk and trading services; Australia, which consists of the Sportsbet Australian brand for betting on national sporting events; U.S., which includes betting apps, retail-only betting, and daily fantasy sports; and PBB Retail, which includes betting shops in the U.K. and Ireland and an accompanying app. PBB Online makes up the largest revenue segment.