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STOCK COMPARISON

Evolution AB (publ) vs Flutter Entertainment: Fair Value & Quality

Both stocks run through our valuation models. Here is how Evolution AB (publ) (EVO) and Flutter Entertainment (FLUT) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Evolution AB (publ) as the more attractively valued of the two: Evolution AB (publ) trades at SEK 846 versus a fair value of SEK 983 (+16%), while Flutter Entertainment trades at $102 versus $88.33 (-14%).
Evolution AB (publ)
EVO.ST · SEK · Consumer Discretionary
+16%
upside to fair value
undervalued
PriceSEK 846
Fair ValueSEK 983
Quality79/100
Flutter Entertainment
FLUT · USD · Consumer Discretionary
-14%
upside to fair value
overvalued
Price$102
Fair Value$88.33
Quality50/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Evolution AB (publ)Flutter Entertainment
Valuation
11.7×P/E (TTM)—
6.69×P/S (TTM)1.13×
3.39×P/B2.12×
10.3×EV/EBITDA12.9×
—PEG0.19×
+16.2%Fair value upside−13.7%
0.4%Dividend yield1.2%
Profitability
57%Operating margin2%
1.11×EBIT margin trend (5Y)1.48×
25%Return on equity-5%
13%Return on assets1%
Growth
-2%Revenue growth (YoY)17%
13.3%Avg. growth/yr (3Y)20.1%
30.4%Avg. growth/yr (5Y)22.1%
+28.7%Value creation/yr—
Balance & size
113.4×Interest coverage (EBIT/interest)0.9×
—Debt / equity1.35×
$14BMarket cap$19B
mixedGrowth qualitymixed

Evolution AB (publ) leads: 6 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Evolution AB (publ)of which business quality 78 · market factors 70 Flutter Entertainmentof which business quality 49 · market factors 24
ProfitabilityMargins and returns on capital today
76
21
Quality GrowthAre margins and returns improving?
30
46
CashflowEarnings quality: real cash, not paper profit
87
56
Fin. StrengthBalance sheet, leverage, solvency risk
90
29
InvestmentDisciplined investing over empire-building
76
90
Low VolatilityCalm price path (market factor)
78
39
MomentumPrice trend over the last 3–12 months (market factor)
67
25
52W MomentumDistance to the 52-week high (market factor)
65
3
Net IssuanceBuybacks instead of dilution
100
83

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyEvolution AB (publ)Price SEK 846Flutter EntertainmentPrice $102
DCF Models-79%below the priceSEK 179+30%above the price$133
Earnings-Based-77%below the priceSEK 192n/a
Dividend Discountn/a-80%below the price$20.77
Multiples-90%below the priceSEK 88.14-49%below the price$52.30
Asset-Based-98%below the priceSEK 14.07-66%below the price$34.91
Growth DCF-85%below the priceSEK 130-12%close to the price$89.82
Economic Profit-90%below the priceSEK 83.33n/a
Growth Earnings-70%below the priceSEK 255n/a
Minimum-98%below the priceSEK 14.07-80%below the price$20.77
Maximum-70%below the priceSEK 255+30%above the price$133
Median-85%below the priceSEK 130-49%below the price$52.30
Geometric mean-88%below the priceSEK 102-47%below the price$53.87

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Evolution AB (publ): 24 of 24 models see the stock below the current price.

Flutter Entertainment: 8 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Evolution AB (publ)
Bear SEK 738Fair Value SEK 983Bull SEK 3,686
SEK 846 = current price (white tick)
Flutter Entertainment
Bear $52.54Fair Value $88.33Bull $124
$102 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Evolution AB (publ) · Consumer Discretionary

Quality score79 · Top 25%
Fair value upside+16% · above median

Flutter Entertainment · Consumer Discretionary

Quality score50 · below median
Fair value upside-14% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Evolution AB (publ) as the more attractively valued of the two: Evolution AB (publ) trades at SEK 846 versus a fair value of SEK 983 (+16%), while Flutter Entertainment trades at $102 versus $88.33 (-14%).

Evolution AB (publ) has the higher quality score (79/100).

See the full analysis →
Evolution AB (publ) · Flutter Entertainment

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.