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Flutter Entertainment vs AppLovin: FLUT and APP compared
Flutter Entertainment is the larger company: $3.9B of revenue in its latest quarter (Q3 2026) against $2.2B for AppLovin (Q3 2026). AppLovin is growing faster (+56% against +2% a year earlier). AppLovin is more profitable, with an operating margin of 78.2% against -30.7%.
Where the money goes: FLUT and APP
Flutter Entertainment (FLUT) · Q3 2026
Flutter Entertainment, Q3 2026: revenue $3.9B (+2% year over year), operating margin -30.7%, net loss $1.1B, operating cash flow $211M. The chart follows the revenue to costs, profit and cash.
AppLovin (APP) · Q3 2026
AppLovin, Q3 2026: revenue $2.2B (+56% year over year), operating margin 78.2%, net earnings $1.4B, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Flutter Entertainment (FLUT) | AppLovin (APP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.9B | $2.2B |
| Revenue growth, Y/Y | +2% | +56% |
| Operating margin | -30.7% | 78.2% |
| Net earnings | −$1.1B | $1.4B |
| Net margin | -29.6% | 65.9% |
| Operating cash flow | $211M | $1.4B |
| Free cash flow | $35.0M | $1.4B |
| Market value | $14.6B | $133.0B |
| P/E | — | 26.7× |
| Analysts’ mean target | $119.99 | $459.79 |
Where the revenue comes from
Flutter Entertainment
- International: $2.4B (62%)
- U.S.: $1.5B (38%)
Questions
Which is bigger, Flutter Entertainment or AppLovin?
Flutter Entertainment is the larger company: $3.9B of revenue in its latest quarter (Q3 2026) against $2.2B for AppLovin (Q3 2026).
Is Flutter Entertainment or AppLovin growing faster?
AppLovin is growing faster (+56% against +2% a year earlier).
Which is more profitable, Flutter Entertainment or AppLovin?
AppLovin is more profitable, with an operating margin of 78.2% against -30.7%.
More: Flutter Entertainment earnings · how Flutter Entertainment makes money · AppLovin earnings · how AppLovin makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.