Flutter Entertainment (FLUT) Aandelenoverzicht
Flutter Entertainment plc is actief als sportweddenschappen- en gamingbedrijf in de Verenigde Staten, het Verenigd Koninkrijk, Ierland, Australië, Italië en internationaal. Meer informatie
| Sneeuwvlok Score | |
|---|---|
| Waardering | 5/6 |
| Toekomstige groei | 3/6 |
| Prestaties in het verleden | 0/6 |
| Financiële gezondheid | 2/6 |
| Dividenden | 0/6 |
Beloningen
Risicoanalyse
Geen risico's gedetecteerd voor FLUT uit onze risicocontroles.
FLUT Community Fair Values
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Analyst Price Targets
Flutter Entertainment plc Concurrenten
Prijsgeschiedenis en prestaties
| Historische aandelenkoersen | |
|---|---|
| Huidige aandelenkoers | US$97.56 |
| 52 Week Hoogtepunt | US$287.44 |
| 52 Week Laag | US$89.71 |
| Bèta | 1.07 |
| 1 maand verandering | 1.21% |
| 3 maanden verandering | -4.19% |
| 1 Jaar Verandering | -65.03% |
| 3 jaar verandering | -46.40% |
| 5 jaar verandering | -55.00% |
| Verandering sinds IPO | 900.62% |
Recent nieuws en updates
Narratiefupdate • Sep 06
FLUT: Prediction Market Clarity And World Cup Advertising Will Support 2026 Rebound
Analysts have trimmed their fair value estimate for Flutter Entertainment to $139.13 from $144.10 as they factor in slightly softer revenue growth and profit margins, even as recent price target changes across the Street reflect mixed views on promotional spending, competition from prediction markets, and the regulatory outlook in the U.S. sports betting market. Analyst Commentary Recent Street research on Flutter Entertainment shows a split view on how the company is handling growth investments, competition from prediction markets and traditional sportsbooks, and the evolving U.S. regulatory picture.
Narratiefupdate • Aug 23
FLUT: World Cup Cohorts And Prediction Markets Will Drive Bullish Reappraisal
Flutter Entertainment's updated analyst price target has been reduced in line with a lower fair value estimate of $245.75, as analysts factor in softer projected revenue growth, slimmer profit margins and a higher future P/E multiple following mixed Q2 results and increased competition, particularly around prediction markets and U.S. promotions. Analyst Commentary Recent research on Flutter Entertainment paints a mixed but generally constructive picture, with many bullish analysts focusing on valuation support, execution under new leadership and the potential payoff from current marketing and product investments.Narratiefupdate • Aug 09
FLUT: Prediction Markets And World Cup Advertising Reset Will Support 2026 Rebound
Flutter Entertainment's updated analyst price target has been trimmed in line with a reset fair value estimate to $144.10 from $157.48, as analysts factor in rebased earnings expectations, higher investment in customer acquisition, and more conservative U.S. growth assumptions following recent Q2 updates and guidance changes. Analyst Commentary Recent Street research on Flutter Entertainment paints a mixed picture, with many analysts trimming price targets after Q2 while still highlighting key strengths and risks that matter for valuation, execution, and longer term growth.Recent updates
Narratiefupdate • Sep 06
FLUT: Prediction Market Clarity And World Cup Advertising Will Support 2026 Rebound
Analysts have trimmed their fair value estimate for Flutter Entertainment to $139.13 from $144.10 as they factor in slightly softer revenue growth and profit margins, even as recent price target changes across the Street reflect mixed views on promotional spending, competition from prediction markets, and the regulatory outlook in the U.S. sports betting market. Analyst Commentary Recent Street research on Flutter Entertainment shows a split view on how the company is handling growth investments, competition from prediction markets and traditional sportsbooks, and the evolving U.S. regulatory picture.Narratiefupdate • Aug 23
FLUT: World Cup Cohorts And Prediction Markets Will Drive Bullish Reappraisal
Flutter Entertainment's updated analyst price target has been reduced in line with a lower fair value estimate of $245.75, as analysts factor in softer projected revenue growth, slimmer profit margins and a higher future P/E multiple following mixed Q2 results and increased competition, particularly around prediction markets and U.S. promotions. Analyst Commentary Recent research on Flutter Entertainment paints a mixed but generally constructive picture, with many bullish analysts focusing on valuation support, execution under new leadership and the potential payoff from current marketing and product investments.Narratiefupdate • Aug 09
FLUT: Prediction Markets And World Cup Advertising Reset Will Support 2026 Rebound
Flutter Entertainment's updated analyst price target has been trimmed in line with a reset fair value estimate to $144.10 from $157.48, as analysts factor in rebased earnings expectations, higher investment in customer acquisition, and more conservative U.S. growth assumptions following recent Q2 updates and guidance changes. Analyst Commentary Recent Street research on Flutter Entertainment paints a mixed picture, with many analysts trimming price targets after Q2 while still highlighting key strengths and risks that matter for valuation, execution, and longer term growth.Narratiefupdate • Jul 26
FLUT: Prediction Markets And World Cup Advertising Reset Will Drive Post 2026 Rebound
For Flutter Entertainment, the analyst price target has been trimmed by around $5 to reflect slightly lower fair value estimates, as well as modestly reduced assumptions for revenue growth, profit margins, and future P/E, as analysts reassess the stock in light of recent sector research and evolving views on online sports betting and prediction markets. Analyst Commentary Recent research on Flutter Entertainment highlights a wide range of opinions on growth, execution and valuation, especially around online sports betting, iCasino and prediction markets.
Narratiefupdate • Jul 12
FLUT: Prediction Market Competition And Execution Risks Will Pressure Shares
Analysts have reset the central price target for Flutter Entertainment to $80, reflecting a more cautious stance on growth, profitability and future P/E assumptions, even as recent research highlights mixed views on competition from prediction markets, marketing intensity and the potential impact of new products and regional trends across online gambling. Analyst Commentary Recent Street research on Flutter Entertainment highlights a split view, with some firms adjusting price targets higher while others pull back and flag risks around prediction markets, execution and marketing intensity.Narratiefupdate • Jun 27
FLUT: Prediction Market Expansion And World Cup Tailwinds Will Drive Reappraisal
Analysts have trimmed their fair value estimate for Flutter Entertainment to about $263 from roughly $369, reflecting higher discount rates, more cautious revenue growth assumptions, and a lower future P/E as they weigh rising competition and mixed views on the company’s prediction market opportunity. Analyst Commentary Recent Street research on Flutter Entertainment shows a split view, with some firms focused on competition in prediction markets and others highlighting potential upside if Flutter executes on its product roadmap and marketing plans.Narratiefupdate • Jun 13
FLUT: Prediction Markets And World Cup Catalyst Will Support Post 2026 Sentiment Reset
Analysts have lifted their blended price target for Flutter Entertainment to $168 from $161, reflecting updated views around higher marketing spend tied to events like the World Cup and the potential for prediction markets to widen the company’s addressable customer base, even as some firms flag downside risks and have trimmed targets or ratings. Analyst Commentary Recent Street research around Flutter Entertainment is split, with some firms highlighting upside tied to marketing and new products, while others focus on execution risks and uncertainty around prediction markets.Narratiefupdate • May 30
FLUT: Prediction Markets Expansion Will Support Post 2026 Sentiment Reset
Analyst fair value for Flutter Entertainment has been revised from $187.54 to $162.72 as many firms trim price targets and adjust growth and margin assumptions, while some still note potential upside from prediction markets expanding the total addressable market. Analyst Commentary Recent research on Flutter Entertainment shows a clear split between bullish and bearish analysts, with price targets moving lower but views differing on how prediction markets and recent trading issues affect the long term story.Seeking Alpha • May 28
Flutter Entertainment: Attractive Entry Point
Summary Flutter's Q1 revenue increased 17% year-over-year to $4.3 billion, supported by strong iGaming growth (+28%) and acquisitions. International EBITDA reached $587 million, helping offset weaker U.S. performance and providing diversification benefits. Management expects margin improvement through product integration, loyalty initiatives, cost efficiencies, and a unified FanDuel platform. The 2026 FIFA World Cup, NFL season, and broader iGaming expansion could act as meaningful catalysts for growth and sentiment recovery. We like the FLUT's capital allocation priorities. With this sell-off, Flutter trades well below its historical average. We initiated coverage with a buy rating. Read the full article on Seeking AlphaNarratiefupdate • Apr 24
FLUT: Global Scale And Prediction Markets Will Support Post 2026 Sentiment Reset
The analyst-derived fair value estimate for Flutter Entertainment has shifted lower to about $188 from roughly $197, as analysts factor in softer U.S. sports betting trends, reduced revenue growth assumptions, slightly higher discount rates, and a lower forward P/E multiple following a broad wave of target cuts and downgrades across the Street. Analyst Commentary Recent Street research on Flutter Entertainment has turned more cautious overall, with a cluster of target cuts and several downgrades, but there is still a split between those who see reset expectations as an opportunity and those who remain focused on execution risks, especially in the U.S. online sports betting market.Narratiefupdate • Apr 10
FLUT: Global Scale And Prediction Markets Will Underpin Post 2026 Recovery Narrative
Analysts have trimmed their average price target on Flutter Entertainment to about $197 from roughly $207, citing softer revenue growth assumptions, a slightly higher required return, lower future P/E expectations, and updated views on U.S. and international headwinds following recent Q4 results and guidance resets. Analyst Commentary Recent research on Flutter Entertainment has shifted toward more cautious pricing, but views are not one sided.Narratiefupdate • Mar 27
FLUT: Global Scale And Prediction Markets Will Support Post 2026 Earnings Reset
Flutter Entertainment's analyst price target has been trimmed slightly to about $207 from roughly $213, as analysts factor in softer margins, a small adjustment to revenue growth expectations, and ongoing concerns around U.S. sports betting competition and recent quarterly misses. Analyst Commentary Recent Street research on Flutter Entertainment clusters around two clear themes, with price targets reduced across the board but views split on how temporary the current pressure might be and how much of it is already reflected in the share price.Narratiefupdate • Mar 12
FLUT: Global Scale And Prediction Markets Will Support Post 2026 Earnings Recovery
Flutter Entertainment's updated analyst price target moves lower to about $213 from roughly $272, as analysts factor in weaker recent results, softer 2026 guidance, higher leverage, and increased competitive and regulatory pressures in their revenue growth, profit margin, and P/E assumptions. Analyst Commentary Recent Street research on Flutter Entertainment reflects a clear reset in expectations, with most firms cutting price targets but often maintaining positive or neutral recommendations.Narratiefupdate • Feb 26
FLUT: Global Scale And Prediction Markets Will Support Long Term Earnings Power
Our updated fair value estimate for Flutter Entertainment edges down by about $2 to $272 per share, as analysts trim price targets and slightly adjust assumptions for the discount rate, revenue growth, and future P/E following broader sector rerating and estimate revisions. Analyst Commentary Street research on Flutter Entertainment has shifted toward more cautious positioning, with a cluster of price target reductions and a few more positive updates.Narratiefupdate • Feb 11
FLUT: U.S. Sports Betting Expansion Will Counter U.K. Tax And Promotion Pressures
Analysts have trimmed their average price target on Flutter Entertainment to about $275 from roughly $285. This reflects slightly lower assumptions for revenue growth and profit margins, a modestly higher discount rate, and a higher future P/E multiple based on recent sector research updates.Analyse-artikel • Feb 03
With A 26% Price Drop For Flutter Entertainment plc (NYSE:FLUT) You'll Still Get What You Pay For
The Flutter Entertainment plc ( NYSE:FLUT ) share price has fared very poorly over the last month, falling by a...Narratiefupdate • Jan 27
FLUT: U.S. Sports Betting Liberalization Will Offset U.K. Gaming Tax And Promotion Headwinds
Analysts have trimmed their fair value estimate for Flutter Entertainment by roughly US$10 to US$285. This reflects slightly higher discount rates and lower target P/E multiples, even as they factor in modestly stronger revenue growth and profit margin assumptions supported by recent Street research updates and mixed rating changes.Narratiefupdate • Jan 12
FLUT: Future U.S. Market Liberalization Will Offset U.K. Gaming Tax Drag
Analysts have trimmed their fair value estimate for Flutter Entertainment by about US$4 to roughly US$296 per share. This reflects slightly higher discount-rate and tax headwind assumptions, partly offset by unchanged views on the company’s scale, diversification and U.S. growth optionality highlighted across recent research.Narratiefupdate • Dec 16
FLUT: Future U.S. Liberalization Will Outweigh U.K. Gaming Tax Pressures
Analysts have nudged our fair value estimate for Flutter Entertainment slightly lower to $299.52 from $303.07, reflecting trimmed valuation multiples despite modest upgrades to long term revenue growth and margin assumptions, as they balance UK tax headwinds, softer near term U.S. sports results and prediction market noise against still supportive Buy skew and expectations for regulatory catalysts. Analyst Commentary Street research remains broadly constructive on Flutter Entertainment, with most firms reiterating positive ratings while trimming price targets to reflect tax, regulatory and sports margin uncertainty.Narratiefupdate • Dec 02
FLUT: U.S. Market Expansion Will Offset U.K. Tax Headwinds Moving Forward
Flutter Entertainment's consensus analyst price target has decreased modestly, dropping from $314.62 to $303.07, as analysts cite UK gaming tax headwinds, margin pressures, and near-term volatility. However, the long-term growth outlook is seen as intact.Narratiefupdate • Nov 18
FLUT: Share Price Pullback Will Present Opportunity As Sector Dynamics Shift
Flutter Entertainment's consensus analyst price target has been lowered by approximately $16 to $314. Analysts cite ongoing uncertainty around sports outcomes, heightened competitor promotions, and evolving dynamics in the prediction markets sector.Narratiefupdate • Nov 02
FLUT: Recent Prediction Market Volatility Will Unlock Buying Opportunity
Flutter Entertainment's analyst price target has been reduced slightly to $330 from $340, as analysts cite near-term headwinds and expectations for a softer Q3. However, they continue to view the company as well positioned in the industry.Narratiefupdate • Oct 18
Brazil And US Markets Will Unlock iGaming Opportunities
Analysts have modestly lowered their price target for Flutter Entertainment, citing near-term headwinds and soft NFL results. The target has been reduced by $10 to $330, but the analysts emphasize the company's enduring long-term prospects.Narratiefupdate • Oct 03
Brazil And US Markets Will Unlock iGaming Opportunities
Flutter Entertainment’s consensus analyst price target has edged down from $345 to $340. Analysts cite softer-than-expected sports betting margins in September, despite earlier quarter strength, as the primary rationale for the revision.Narratiefupdate • Aug 08
Brazil And US Markets Will Unlock iGaming Opportunities
The Consensus Analyst Price Target for Flutter Entertainment has been revised upward to $342.80, reflecting improved profitability and a lower forward P/E multiple. What's in the News Flutter Entertainment is nearing an agreement to acquire an additional 5% stake in FanDuel from Boyd Gaming for approximately $2 billion, with a potential announcement expected this week (Sky News).
Nieuw narratief • Apr 27
US Expansion, Product Development And Acquisitions Will Create Future Value
Expansion into the U.S. and new markets aims to drive future revenue growth and strengthen Flutter's geographic presence.Seeking Alpha • Mar 20
Flutter Entertainment: Gambling Obsession Could Pay Off Big
Summary Flutter Entertainment plc is a global leader in one of the more intriguing growth industries of our time, legalized gambling. My investment thesis highlights strong revenue growth and market expansion as key drivers. FLUT has dipped in price, allowing me to step in as part of my new long-term growth portfolio. I rate FLUT a buy with a 3-year time frame. Read the full article on Seeking AlphaSeeking Alpha • Jan 20
Flutter (FanDuel): 7 States Nearing Final Debate On Sports Betting, Outlook Promising
Summary Seven states pulling nearer to next steps to legalization of sports betting favors FLUT disproportionately as sector leader. We see 2 or possibly 3 advancing to the doorstep of going legal. The latest GeoComply report shows unmet demand in those states is huge. Read the full article on Seeking AlphaSeeking Alpha • Jan 14
Flutter: FanDuel's Battle With DraftKings Continues
Summary Flutter Entertainment plc's FanDuel has gained the number one U.S. spot in both sports betting and iGaming with a continued close battle with DraftKings. FanDuel and DraftKings have established a strong combined foothold in the industry, and competitive advantages from scale in especially sports betting challenges competitors' market penetration. Flutter's ex-U.S. performance has also shown solid growth with similar competitive advantages, aided by market growth in even more mature markets. FLUT stock already prices in strong earnings growth prospects, and I estimate a fair value of $247. Read the full article on Seeking AlphaSeeking Alpha • Nov 06
3 Reasons To Bet On Flutter's 'License To Print Money'
Summary FLUT's strong revenue growth, driven by FanDuel and expanding markets, positions it for continued top-line expansion, potentially reaching $20 billion by FY 2028. Operational improvements and margin expansion are expected to boost profitability, with operating margins projected to grow significantly, enhancing shareholder returns. Despite FLUT's breakeven status over the last twelve months, the company's future growth potential makes it an attractive investment. We rate FLUT a 'Strong Buy'. Read the full article on Seeking AlphaSeeking Alpha • Sep 09
Flutter: This NFL Season Has Big Gifts For Sports Betting Sites
Summary Ben Graham's intrinsic value formula is highlighted as a simple, accurate method to gauge stock value, despite its imperfections. Flutter Entertainment plc and DraftKings Inc. dominate the US sports betting market, controlling 68-72% and showing strong revenue growth. Flutter is preferred for its stability, global presence, and profitability, while DKNG is considered undervalued with potential growth through mergers. The NFL season is expected to drive record betting volumes, benefiting Flutter Entertainment significantly due to its scale and market leadership. Read the full article on Seeking AlphaSeeking Alpha • Jul 19
Flutter Entertainment: Leading The U.S. Market With International Expertise, Fairly Priced
Summary Flutter Entertainment provides sports betting and gaming services globally, leading the rapidly growing FanDuel US brand with international expertise. The company's international operations provide stable cash flows to finance extensive US investments, with the markets being more mature but also posed with higher regulatory risks. The stock valuation seems expensive on the surface, but with FanDuel's growth potential, the stock is priced fairly. Read the full article on Seeking AlphaSeeking Alpha • May 06
Flutter: Nurturing The Kentucky Derby, A Possible One Event Betting Phenomenon
Summary Flutter Entertainment plc is focusing on the revival of horse racing as a valuable business for sports betting. Its partnership with Churchill Downs gives it an advantage in developing this legacy betting sport. Flutter Entertainment's three-year sales growth projection is powerful, with a projected revenue of $11.7 billion in 2023. Read the full article on Seeking AlphaSeeking Alpha • Mar 31
Flutter Entertainment: It's All About Scale In The Sports Betting Sector
Summary Flutter's transition to trading on the NYSE has increased its penetration into the US investor pools. FLUT, the largest international online sports betting platform, is expected to benefit from its scale against peers. The growth of Fan Duel in the US has been a major driver of FLUT's success, and the company is projected to turn profitable this year. Read the full article on Seeking AlphaRendement voor aandeelhouders
| FLUT | US Hospitality | US Markt | |
|---|---|---|---|
| 7D | -1.8% | -3.2% | -1.6% |
| 1Y | -65.0% | -10.8% | 12.1% |
Rendement versus industrie: FLUT presteerde slechter dan de US Hospitality -sector, die het afgelopen jaar een rendement van -10.8 % opleverde.
Rendement versus markt: FLUT presteerde slechter dan US Market, dat het afgelopen jaar een rendement van 12.1 % opleverde.
Prijsvolatiliteit
| FLUT volatility | |
|---|---|
| FLUT Average Weekly Movement | 7.4% |
| Hospitality Industry Average Movement | 6.7% |
| Market Average Movement | 6.8% |
| 10% most volatile stocks in US Market | 15.2% |
| 10% least volatile stocks in US Market | 2.9% |
Stabiele aandelenkoers: FLUT heeft de afgelopen 3 maanden geen significante prijsvolatiliteit gekend vergeleken met de US markt.
Volatiliteit in de loop van de tijd: De wekelijkse volatiliteit ( 7% ) van FLUT is het afgelopen jaar stabiel geweest.
Over het bedrijf
| Opgericht | Werknemers | CEO | Website |
|---|---|---|---|
| 1958 | 28,518 | Jeremy Jackson | www.flutter.com |
Flutter Entertainment plc is actief als sportweddenschappen- en gamingbedrijf in de Verenigde Staten, het Verenigd Koninkrijk, Ierland, Australië, Italië en internationaal. Het bedrijf biedt sportwedkantoren, iGaming-producten zoals blackjack, roulette, speelautomaten, poker en rummy, evenals loterijproducten, en sportweddenschappen, waaronder Betfair-weddenschapsbeurzen, daily fantasy sports en weddenschappen op paardenraces onder het TVG-merk. Het bedrijf biedt sportweddenschappen en gokdiensten aan via fanduel.com, tvg.com, betfair.com, paddypower.com en paddypower.ie, sportsbet.com.au, pokerstars.com, betfair.com, sisal.it, maxbet.rs, en adjarabet.com websites onder de merknamen FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Adjarabet, en MaxBet, evenals live poker tours en evenementen.
Flutter Entertainment plc Samenvatting
| FLUT fundamentele statistieken | |
|---|---|
| Marktkapitalisatie | US$17.34b |
| Inkomsten(TTM) | -US$754.00m |
| Inkomsten(TTM) | US$17.16b |
1.0x
P/S-verhouding-22.5x
Koers/WinstverhoudingIs FLUT overgewaardeerd?
Zie Reële waarde en waarderingsanalyseInkomsten en omzet
| FLUT resultatenrekening (TTM) | |
|---|---|
| Inkomsten | US$17.16b |
| Kosten van inkomsten | US$9.88b |
| Brutowinst | US$7.29b |
| Overige uitgaven | US$8.04b |
| Inkomsten | -US$754.00m |
Laatst gerapporteerde inkomsten
Jun 30, 2026
Volgende inkomensdatum
n.v.t.
| Winst per aandeel (EPS) | -4.34 |
| Brutomarge | 42.46% |
| Nettowinstmarge | -4.39% |
| Schuld/Eigen Vermogen Verhouding | 128.3% |
Hoe presteerde FLUT op de lange termijn?
Bekijk historische prestaties en vergelijkingBedrijfsanalyse en status van financiële gegevens
| Gegevens | Laatst bijgewerkt (UTC-tijd) |
|---|---|
| Bedrijfsanalyse | 2026/09/16 00:28 |
| Aandelenkoers aan het einde van de dag | 2026/09/16 00:00 |
| Inkomsten | 2026/06/30 |
| Jaarlijkse inkomsten | 2025/12/31 |
Gegevensbronnen
De gegevens die gebruikt zijn in onze bedrijfsanalyse zijn afkomstig van S&P Global Market Intelligence LLC. De volgende gegevens worden gebruikt in ons analysemodel om dit rapport te genereren. De gegevens zijn genormaliseerd, waardoor er een vertraging kan optreden voordat de bron beschikbaar is.
| Pakket | Gegevens | Tijdframe | Voorbeeld Amerikaanse bron * |
|---|---|---|---|
| Financiële gegevens bedrijf | 10 jaar |
| |
| Consensus schattingen analisten | +3 jaar |
|
|
| Marktprijzen | 30 jaar |
| |
| Eigendom | 10 jaar |
| |
| Beheer | 10 jaar |
| |
| Belangrijkste ontwikkelingen | 10 jaar |
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* Voorbeeld voor effecten uit de VS, voor niet-Amerikaanse effecten worden gelijkwaardige formulieren en bronnen gebruikt.
Tenzij anders vermeld zijn alle financiële gegevens gebaseerd op een jaarperiode, maar worden ze elk kwartaal bijgewerkt. Dit staat bekend als Trailing Twelve Month (TTM) of Last Twelve Month (LTM) gegevens. Meer informatie.
Analysemodel en Snowflake
Details van het analysamodel dat is gebruikt om dit rapport te genereren zijn beschikbaar op onze Github-pagina, we hebben ook handleidingen over hoe u onze rapporten kunt gebruiken en tutorials op YouTube.
Leer meer over het dat het Simply Wall St-analysemodel heeft ontworpen en gebouwd.
Industrie en sector
Onze industrie- en sectormetrics worden elke 6 uur berekend door Simply Wall St, details van ons proces zijn beschikbaar op Github.
Bronnen van analisten
Flutter Entertainment plc wordt gevolgd door 50 analisten. 29 van deze analisten hebben de schattingen van de omzet of winst ingediend die zijn gebruikt als input voor ons rapport. Inzendingen van analisten worden de hele dag door bijgewerkt.
| Analist | Instelling |
|---|---|
| Pierre-Marie D'Ornano | Arete Research Services LLP |
| "Brandt Montour | Barclays |
| James Rowland Clark | Barclays |