Flutter Entertainment PLC (FLUT) vs Light & Wonder, Inc. (LNWO)

Flutter Entertainment PLC and Light & Wonder, Inc. are both Gambling companies. Flutter Entertainment PLC is the larger, with a market value of $14.1B against $7.0B — 2.0× the size. Flutter Entertainment PLC has negative trailing earnings, so its P/E is not meaningful; Light & Wonder, Inc. trades at 22.6×. Flutter Entertainment PLC grew revenue faster over the last twelve months: 15.2% against 4.75%. Light & Wonder, Inc. has the higher net margin (8.09% vs −4.39%) and the higher return on invested capital (8.00% vs −2.31%). Across the 19 metrics below, Light & Wonder, Inc. leads on 14 and Flutter Entertainment PLC on 5.

Valuation

Metric FLUT LNWO Gambling median
P/E n/m 22.65 16.33
P/S 0.85 1.78 0.86
P/B 1.62 19.79 3.20
Price to free cash flow 28.84 12.57 18.30
EV/EBITDA 22.29 16.36 9.68
EV/Sales 1.34 3.24 1.63
Earnings yield (5.15%) 4.42% (0.02%)
Free cash flow yield 3.47% 7.96% 4.45%

Profitability

Metric FLUT LNWO Gambling median
Gross margin 42.46% 74.35% 51.63%
Operating margin (3.74%) 19.83% (1.47%)
Net margin (4.39%) 8.09% (3.01%)
Free cash flow margin 2.94% 16.57% 2.54%
Return on equity (7.78%) 53.98% 10.65%
Return on assets (2.60%) 4.22% (1.07%)
Return on invested capital (2.31%) 8.00% 0.00%

Growth

Metric FLUT LNWO Gambling median
Revenue growth (TTM) 15.24% 4.75% 5.73%
EPS growth (last fiscal year) (829.17%) (11.41%) —
Revenue growth, 5-year CAGR — 14.30% 23.46%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric FLUT LNWO Gambling median
Debt to equity 1.33 16.99 0.13
Current ratio 0.89 1.73 1.06
Net debt to EBITDA 5.42 4.50 0.25

Dividend

Metric FLUT LNWO Gambling median
Dividend yield — — —
Payout ratio — 0.00 0.00

Size

Metric FLUT LNWO Gambling median
Market cap 14.06b 7.03b 673.72m

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