Business PerformanceFlutter delivered a strong full-year performance, with AMPs increasing 13% YoY and revenue growing 19% YoY, driven by the rapid scaling of its U.S. business.
Financial StrategyFlutter reduced its leverage ratio to 2.2x from 3.1x, supported by strong cash flow, and announced a $1B share repurchase program for 2025.
Stock ValuationPost sell-off, shares trade on 24x 2025E P/E, attractive given expectations for 32% 2025-27E EPS CAGR.