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Flutter Entertainment vs Alphabet: revenue, profit, margins and growth compared

Flutter Entertainment brought in $16.4B of revenue in fiscal 2025, Alphabet $402.8B in fiscal 2025. Revenue changed by +16.6% at Flutter Entertainment and +15.1% at Alphabet on the year before, so Flutter Entertainment grew faster. Flutter Entertainment kept -1.9% of its revenue as net profit, Alphabet 32.8%. Free cash flow was $1.1B at Flutter Entertainment and $73.3B at Alphabet.

Side by side, latest fiscal year

FLUTGOOGL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$16.4B$402.8B
Revenue growth+16.6%+15.1%
Net income-$310M$132.2B
Net margin-1.9%32.8%
Free cash flow$1.1B$73.3B
Free cash flow margin6.6%18.2%
Earnings per share (diluted)-$1.75$10.81
Cash$1.8B$30.7B
Debt$12.3B$49.1B
Price to earningsn/a31.8
Market value$14.6B$4.21T
Dividend yieldn/a0.24%
Rank by revenue in sector#43 of 530 · Technology#2 of 530 · Technology

Over the years

Revenue
FLUT FY2017: $1.2BFLUT FY2017: $1.3BFLUT FY2018: $2BFLUT FY2019: $2.5BFLUT FY2022: $9.5BFLUT FY2024: $11.8BFLUT FY2024: $14BFLUT FY2025: $16.4BGOOGL FY2018: $136.8BGOOGL FY2019: $161.9BGOOGL FY2020: $182.5BGOOGL FY2021: $257.6BGOOGL FY2022: $282.8BGOOGL FY2023: $307.4BGOOGL FY2024: $350BGOOGL FY2025: $402.8BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FLUT $16.4BGOOGL $402.8B
Net income
FLUT FY2017: $136.1MFLUT FY2017: $259.2MFLUT FY2018: -$102.5MFLUT FY2019: $62.8MFLUT FY2022: -$432MFLUT FY2024: -$1.2BFLUT FY2024: $43MFLUT FY2025: -$310MGOOGL FY2018: $30.7BGOOGL FY2019: $34.3BGOOGL FY2020: $40.3BGOOGL FY2021: $76BGOOGL FY2022: $60BGOOGL FY2023: $73.8BGOOGL FY2024: $100.1BGOOGL FY2025: $132.2BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FLUT -$310MGOOGL $132.2B
Net margin
FLUT FY2017: 11.8%FLUT FY2017: 19.8%FLUT FY2018: -5.0%FLUT FY2019: 2.5%FLUT FY2022: -4.6%FLUT FY2024: -10.4%FLUT FY2024: 0.3%FLUT FY2025: -1.9%GOOGL FY2018: 22.5%GOOGL FY2019: 21.2%GOOGL FY2020: 22.1%GOOGL FY2021: 29.5%GOOGL FY2022: 21.2%GOOGL FY2023: 24.0%GOOGL FY2024: 28.6%GOOGL FY2025: 32.8%FY17FY18FY19FY20FY21FY22FY23FY24FY25
FLUT -1.9%GOOGL 32.8%
Revenue growth
FLUT FY2017: +13.6%FLUT FY2018: +54.6%FLUT FY2019: +24.6%FLUT FY2024: +24.6%FLUT FY2024: +19.2%FLUT FY2025: +16.6%GOOGL FY2019: +18.3%GOOGL FY2020: +12.8%GOOGL FY2021: +41.2%GOOGL FY2022: +9.8%GOOGL FY2023: +8.7%GOOGL FY2024: +13.9%GOOGL FY2025: +15.1%FY17FY18FY19FY20FY21FY22FY23FY24FY25
FLUT +16.6%GOOGL +15.1%
Free cash flow
FLUT FY2017: $343.1MFLUT FY2017: $483.6MFLUT FY2018: $525.9MFLUT FY2019: $643.1MFLUT FY2022: $1BFLUT FY2024: $778MFLUT FY2024: $1.5BFLUT FY2025: $1.1BGOOGL FY2018: $22.8BGOOGL FY2019: $31BGOOGL FY2020: $42.8BGOOGL FY2021: $67BGOOGL FY2022: $60BGOOGL FY2023: $69.5BGOOGL FY2024: $72.8BGOOGL FY2025: $73.3BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FLUT $1.1BGOOGL $73.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Flutter Entertainment and Alphabet

Which is bigger by revenue, Flutter Entertainment or Alphabet?

Alphabet is bigger by revenue: $402.8B in fiscal 2025, against $16.4B for Flutter Entertainment in fiscal 2025.

Which keeps more of its revenue as profit, Flutter Entertainment or Alphabet?

Flutter Entertainment had a net margin of -1.9% in fiscal 2025; Alphabet had 32.8% in fiscal 2025.

Which grew revenue faster, Flutter Entertainment or Alphabet?

In their latest fiscal years revenue changed by +16.6% at Flutter Entertainment and +15.1% at Alphabet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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