greeksoup/ stock research
Stock research / United States / DKNG · Services-Miscellaneous Amusement & Recreation · Nasdaq

DraftKings Inc. (DKNG)

Compare with another name

DraftKings Inc. (DKNG) reported revenue of $1.4 billion for Q2 FY2026, the quarter ended 30 June 2026, down 4.6% on the same quarter a year earlier. Net income was -$68 million, and diluted earnings per share $-0.14. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$1.4 billiondown 4.6%
Net income-$68 million
Diluted EPS$-0.14
QuarterQ2 FY2026ended 30 June 2026

DraftKings (DKNG) in brief

DraftKings (DKNG) reported revenue of $6.1 billion for fiscal 2025, the year ended 31 December 2025, up 27.0% on the year before.
Read moreNet income was $4 million and the diluted loss per share $0.01. Revenue was $4.8 billion in fiscal 2024, $3.7 billion in fiscal 2023, $2.2 billion in fiscal 2022 and $1.3 billion in fiscal 2021. Net income in the same years was a loss of $507 million, a loss of $802 million, a loss of $1.4 billion and a loss of $1.5 billion. Over the twelve months to 30 June 2026, DraftKings reported revenue of $6.2 billion and net loss of $167 million. Revenue grew 58.0% a year, compounded, over the five years to fiscal 2025. At 30 June 2026 it carried $1.9 billion of debt and $984 million of cash. At the close of 27 October 2026 the market cap of DraftKings was $10.3 billion.

Ratios

From the filings

ROE-29.3%
ROCE-7.5%
Operating margin-2.9%
Net margin-2.7%
FCF margin10.5%
Interest covern/a
Debt to equity3.26
Cash conversionn/a
Share count, last 12 months-0.1%
Sales CAGR, 3 years39.3%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.38

At the close of 27 October 2026

Price$20.78
Market cap$10.3 billion
Stock P/En/a
Price to book18.10
EV / EBITDA102.01
Dividend yieldn/a
Market cap / sales1.66
52-week high$36.24
52-week low$18.58
Price, 1 year-37.0%
Price CAGR, 3 years-7.9%
Price CAGR, 5 years-15.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings DraftKings Inc. reports under its own heading, which is the only one it files; lease liabilities are separate lines. Nothing here is a valuation or a view.
DKNGgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on DKNG

Dividendsno dividend in its filings for fiscal 2020 onward
Filings18 in twelve months: 11 current reports (8-K), about 4 regulation FD disclosure; 4 results of operations; 2 officer or director change; 1 change of auditor; 1 material agreement
Planned insider sales19 Form 144 notices in twelve months, $164.4 million; latest 19 August 2026
Options tapeput/call 0.25 by open interest at the 27 October 2026 close; the straddle prices a 5.1% move to 30 October 2026
13F holders694 funds reported a position for the quarter to 30 June 2026; largest CIBC Bancorp USA Inc.
Insider trading17 sales and 3 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest39.5 million shares short, 2.82 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2134734174665028557708757901,2311,1751,1041,0951,3931,4091,5131,1441,9891,6461,443
Cost of revenue1712533133133734855225105437177106637428358448557841,075949892
Gross profit42.1220104153129370248365247514465441353558565658360915697551
Gross margin20%47%25%33%26%43%32%42%31%42%40%40%32%40%40%44%31%46%42%38%
Operating income-547-369-516-309-455-232-390-69.0-287-43.8-139-32.4-299-139-46.3151-2721525.8-68.2
Operating margin-257%-78%-124%-66%-91%-27%-51%-8%-36%-4%-12%-3%-27%-10%-3%10%-24%8%0%-5%
Interest expensen/an/a0.70.70.70.70.70.70.70.70.60.70.90.85.111.6n/an/an/an/a
Pre-tax income-541-323-465-298-447-233-396-76.3-282-37.5-143-9.5-295-146-39.4170-27114722.9-71.9
Tax raten/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a7%n/a7%28%n/a
Net income-545-326-468-217-450-243-397-77.3-283-44.6-14363.8-294-135-33.9158-25713621.1-67.6
Net margin-256%-69%-112%-47%-90%-28%-52%-9%-36%-4%-12%6%-27%-10%-2%10%-22%7%1%-5%
Diluted EPS-$1.35-$0.80-$1.14-$0.50-$1.00-$0.53-$0.87-$0.17-$0.61-$0.10-$0.30$0.10-$0.60-$0.28-$0.07$0.30-$0.52$0.25$0.03-$0.14
Operating cash flow-70.9-172-357-17352.2-148-201-17.714572.1-70.429.4134325-119174287320-48.4111
Capital expenditure5.04.88.65.85.412.57.12.610.21.03.02.42.72.02.64.34.44.07.14.6
Free cash flow-75.8-177-365-17846.8-161-209-20.313571.0-73.427.0131323-122170283317-55.5107
Buybacks4.43.514.13.44.53.527.413.818.220.733.524.420.3-30.114210071.225898.655.6
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 6 fiscal years and the trailing twelve months

FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Revenue6151,2962,2403,6654,7686,0556,223
Cost of revenue3477941,4842,2922,9513,5573,700
Gross profit2685027561,3731,8172,4982,523
Gross margin43.6%38.7%33.8%37.5%38.1%41.3%40.5%
Operating income-843-1,562-1,512-789-609-15.8-182
Operating margin-137.2%-120.5%-67.5%-21.5%-12.8%-0.3%-2.9%
Interest expensen/a2.12.72.73.0n/an/a
Pre-tax income-1,232-1,518-1,443-791-5937.0-172
Income tax-0.68.3-67.910.2-86.34.32.7
Effective tax raten/an/an/an/an/a60.9%n/a
Net income-1,232-1,523-1,378-802-5073.7-167
Net margin-200.5%-117.5%-61.5%-21.9%-10.6%0.1%-2.7%
Diluted EPS-$4.03-$3.78-$3.16-$1.73-$1.05-$0.01-$0.38
Filing10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Sportsbook2,1062,9033,82762.9%
iGaming1,2171,5081,80529.7%
Other3423574237.0%
Interest Incomen/an/a25.60.4%
SportsbookiGamingOtherInterest Income
3,665FY20234,768FY20246,080FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
United States3,5964,6495,89597.4%
International69.81191592.6%
United StatesInternational
3,665FY20234,768FY20246,055FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow-194-420-626-1.8418663671
Capital expenditure11.815.932.420.910.215.420.1
Free cash flow-206-435-658-22.7408648651
Free cash flow margin-33.5%-33.6%-29.4%-0.6%8.5%10.7%10.5%
Cash from investing-227-195-209-90.4-567-166-185
Cash from financing2,3061,139-16.7-63.2-144-222-662
Depreciation and amortisation77.4121169202271275292
Share-based compensation325683579398381339324
Buybacks28917.80.00.048.1572483
Diluted shares, weighted306m402m437m463m482m496m496m
Filing10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity2,6311,6791,3238401,011631569
Debtn/a1,2481,2511,2541,2561,8611,858
Operating lease liabilitiesn/a57.369.380.867.744.471.3
Other liabilitiesn/a1,0851,3971,7701,9491,9941,779
Total liabilities and equityn/a4,0694,0403,9454,2844,5314,277
Owned
Fixed assetsn/a46.060.160.750.551.152.7
Goodwilln/a6168868861,5551,5981,598
Intangible assetsn/a535777691933889837
Cash and equivalents1,8172,1531,3091,2717881,128984
Receivables44.545.951.147.557.810682.1
Other assetsn/a674956989899760724
Total assetsn/a4,0694,0403,9454,2844,5314,277
Filing10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a58.0%39.3%15.0%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a-68.0%-48.4%0.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was DraftKings' revenue in fiscal 2025?

DraftKings (DKNG) reported revenue of $6.1 billion for fiscal 2025, the year ended 31 December 2025, up 27.0% on the year before.

How much did DraftKings earn in fiscal 2025?

Net income was $4 million for fiscal 2025, and the diluted loss per share $0.01.

What is DraftKings' market cap?

The market cap of DraftKings was $10.3 billion at the close of 27 October 2026.

How much debt does DraftKings have?

At 30 June 2026 DraftKings carried $1.9 billion of debt and $984 million of cash.

Peers: Entertainment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Walt Disney Co. DIS$190.3 billion22.737.8%18.4%4.6%0.421.5%
TKO Group Holdings, Inc. TKO$13.1 billion60.386.8%18.8%5.1%1.362.2%
DraftKings Inc. DKNG$10.3 billionn/a-29.3%-2.9%15.0%3.26n/a
Life Time Group Holdings, Inc. LTH$9.8 billion24.0912.6%17.3%12.7%0.45n/a
MSG Knickerbockers Corp. MSGS$9.4 billion1,281.83n/a2.5%11.0%n/a1.8%
Liberty Live Holdings, Inc. LLYVA$9.0 billionn/an/a-12.1%n/an/an/a
Churchill Downs Inc. CHDN$5.7 billion13.9330.8%24.1%5.7%3.560.5%
Vail Resorts Inc. MTN$5.4 billion36.5961.3%14.8%-4.3%13.245.9%
StubHub Holdings, Inc. STUB$2.1 billionn/a-108.9%-69.7%n/a0.86n/a
Rush Street Interactive, Inc. RSI$1.8 billion53.0717.2%10.1%34.3%0.00n/a
Pursuit Attractions & Hospitality, Inc. PRSU$1.5 billion40.117.2%15.1%26.4%0.360.0%
United Parks & Resorts Inc. PRKS$1.4 billion12.39n/a19.2%-3.5%n/a2.3%
All 23 in Entertainment
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Netflix Inc. NFLX$256.7 billion18.0750.4%31.3%14.7%0.52n/a
Walt Disney Co. DIS$190.3 billion22.737.8%18.4%4.6%0.421.5%
Live Nation Entertainment, Inc. LYV$40.6 billionn/a163.6%3.0%10.8%111.76n/a
TKO Group Holdings, Inc. TKO$13.1 billion60.386.8%18.8%5.1%1.362.2%
DraftKings Inc. DKNG$10.3 billionn/a-29.3%-2.9%15.0%3.26n/a
Life Time Group Holdings, Inc. LTH$9.8 billion24.0912.6%17.3%12.7%0.45n/a
MSG Knickerbockers Corp. MSGS$9.4 billion1,281.83n/a2.5%11.0%n/a1.8%
Liberty Live Holdings, Inc. LLYVA$9.0 billionn/an/a-12.1%n/an/an/a
Churchill Downs Inc. CHDN$5.7 billion13.9330.8%24.1%5.7%3.560.5%
Vail Resorts Inc. MTN$5.4 billion36.5961.3%14.8%-4.3%13.245.9%
Cinemark Holdings, Inc. CNK$4.8 billion23.40n/an/a4.5%n/a0.9%
Sphere Entertainment Co. SPHR$4.2 billionn/a-3.2%-11.4%23.4%0.35n/a
Planet Fitness, Inc. PLNT$4.0 billion17.71n/a30.9%12.7%n/an/a
Lionsgate Studios Corp. LION$3.6 billionn/an/an/an/an/an/a
Atlanta Braves Holdings, Inc. BATRA$3.5 billionn/a-12.5%-9.4%6.8%1.54n/a
AMC Entertainment Holdings, Inc. AMC$2.7 billionn/an/a4.4%6.4%n/a133.8%
Onespaworld Holdings Ltd. OSW$2.5 billion31.6113.9%8.9%9.8%0.14n/a
StubHub Holdings, Inc. STUB$2.1 billionn/a-108.9%-69.7%n/a0.86n/a
Rush Street Interactive, Inc. RSI$1.8 billion53.0717.2%10.1%34.3%0.00n/a
Pursuit Attractions & Hospitality, Inc. PRSU$1.5 billion40.117.2%15.1%26.4%0.360.0%
United Parks & Resorts Inc. PRKS$1.4 billion12.39n/a19.2%-3.5%n/a2.3%
Six Flags Entertainment Corporation FUN$789 millionn/a-1,526.2%-44.2%-3.5%43.34n/a
Warner Music Group Corp. WMGn/an/a78.7%13.7%12.9%5.522.5%
7 companies share its SEC industry code (Services-Miscellaneous Amusement & Recreation); the rest are the names nearest in size in its wider industry, Entertainment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20267 August 2026EDGAR
10-Q31 March 20268 May 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 20257 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 20242 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR