Flutter Entertainment vs Las Vegas Sands
Flutter Entertainment is the larger business, with $16.38bn of revenue in fiscal 2025 against $13.02bn for Las Vegas Sands (1.3 times as much). Flutter Entertainment grew faster (16.6% against 15.2%). Las Vegas Sands kept more of each dollar of sales as profit: a net margin of 12.5% against -1.9%. Flutter Entertainment carries less debt relative to equity (136.7% against 992.7%).
| Latest fiscal year | Flutter EntertainmentFLUT, 2025 | Las Vegas SandsLVS, 2025 |
|---|---|---|
| Revenue | $16.38bn | $13.02bn |
| Revenue growth | 16.6% | 15.2% |
| Net income | −$310m | $1.63bn |
| Operating margin | 0.2% | 21.6% |
| Net margin | -1.9% | 12.5% |
| Return on equity | -3.4% | 72.7% |
| Free cash flow | $1.08bn | $1.85bn |
| Cash | $1.83bn | $3.84bn |
| Total debt | $12.36bn | $15.78bn |
| Debt to equity | 136.7% | 992.7% |
| Dividend per share | — | $1.00 |
| Dividend yield | — | 3.7% |
| Share buybacks | $1.12bn | $2.22bn |
| Employees | 27,345 | 41,500 |
| Market value | $14.71bn | $23.96bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | — | 66 (Moderate) |
| Insider trades, 12 months | 8 buys, 22 sales | 0 buys, 24 sales |