DraftKings Inc. (DKNG)

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. The company offers online and retail sports betting, daily fantasy sports, digital lottery couriers, prediction markets, and other products, as well as retails sportsbooks. It also provides iGaming, or online casino products, which includes blackjack, roulette, baccarat and slot machines. In addition, the company engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.

Symbol: DKNG
Exchange: Nasdaq
Sector: Consumer Cyclical
Industry: Gambling
Market cap: $9.37B
52 week range: 18.55 - 38.06

Valuation

Share price: $19.35 (close of 2026-10-01)
P/E (TTM): -55.56x
Price to book: 16.46x
Price to free cash flow: 14.40x
Enterprise value: $10.30B
Book value per share: $1.15

Price performance

Period	Change
1 day	+1.84%
5 days	-9.03%
1 month	-17.45%
3 months	-24.91%
6 months	-12.68%
Year to date	-43.85%
1 year	-44.97%
3 years	-34.27%
5 years	-61.71%
All time	+97.44%

Profitability and growth

Return on equity: 0.59%
Return on invested capital: -1.13%
Return on assets: 0.08%
Return on capital employed: -0.57%
Gross margin: 41.25%
Net margin: 0.06%
EBITDA margin: 4.29%
Revenue growth: 26.99%
Net income growth: 100.73%
Free cash flow growth: 58.86%

Cash flow and balance sheet

Free cash flow yield (TTM): 6.95%
Current ratio: 1.02x
Net debt to EBITDA: 8.50x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $6.05B
Cost of revenue: $3.56B
Gross profit: $2.50B
EBITDA: $259.67M
Net income: $3.71M
Earnings per share: $0.01
Shares outstanding: 495.64M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$6.05B	$2.50B	$3.71M	$0.01
2024-12-31	$4.77B	$1.82B	-$507.29M	$-1.05
2023-12-31	$3.67B	$1.37B	-$802.14M	$-1.73
2022-12-31	$2.24B	$756.19M	-$1.38B	$-3.16
2021-12-31	$1.30B	$501.86M	-$1.52B	$-3.78
2020-12-31	$614.53M	$267.94M	-$1.23B	$-4.03

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	41.25%	0.06%	0.59%	-1.13%
2024-12-31	38.11%	-10.64%	-50.20%	-33.56%
2023-12-31	37.46%	-21.88%	-95.46%	-86.17%
2022-12-31	33.75%	-61.50%	-104.18%	-107.90%
2021-12-31	38.72%	-117.53%	-90.75%	-
2020-12-31	43.60%	-200.45%	-46.81%	-103.51%

Cash and debt by year

Period end	Cash
2025-12-31	$1.13B
2024-12-31	$788.29M
2023-12-31	$1.27B
2022-12-31	$1.31B
2021-12-31	$2.15B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$647.50M	$339.31M
2024-12-31	$407.59M	$381.37M
2023-12-31	-$22.65M	$398.46M
2022-12-31	-$657.92M	$578.80M
2021-12-31	-$435.43M	$683.29M
2020-12-31	-$205.91M	$325.04M

Investor relations

Next earnings report

Next confirmed report: 2026-11-05

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-06	Jun/2026	$0.08
2026-05-07	-	-
2026-02-12	-	-
2025-11-06	-	-
2025-08-06	-	-
2025-05-08	-	-
2025-02-13	-	-
2024-11-07	-	-

Filings and sources

Company website: draftkings.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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