Saturday 17 October 2026
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DraftKings Inc.
DKNG Consumer Cyclical Gambling
DraftKings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 27.0% from fiscal 2024. In the quarter to June 2026, revenue fell 4.58%, EPS fell 143.8%, free cash flow fell 51.6% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
18.90
0.41
−2.12%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | 9.76 | 10.60 | 25.80 | 9.77 | 10.98 | 28.69 | 26.23 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | 11.04 | 64.19 | 74.38 | 28.55 | 39.35 | 49.57 | 53.61 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | 6 | 2,600 | 3,400 | 4,200 | 4,400 | 5,100 | 5,500 | ||||
| Revenue/emp, $m | — | — | 0.00 | 53.90 | 0.24 | 0.38 | 0.53 | 0.83 | 0.93 | 1.10 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | 226 | 323 | 615 | 1,296 | 2,240 | 3,665 | 4,768 | 6,055 | ||||
| Gross margin, % | — | — | 78.48 | 67.88 | 43.60 | 38.72 | 33.75 | 37.46 | 38.11 | 41.25 | |||||
| EBT | — | — | (76) | (142) | (1,232) | (1,518) | (1,443) | (791) | (593) | 7 | |||||
| EBT margin, % | — | — | (33.64) | (43.97) | (200.46) | (117.10) | (64.40) | (21.59) | (12.44) | 0.12 | |||||
| Net income | — | 0 | (76) | (143) | (1,232) | (1,523) | (1,378) | (802) | (507) | 4 | |||||
| Depreciation | — | — | 7 | 14 | 77 | 121 | 169 | 202 | 271 | 275 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | 1.33 | 1.75 | 2.01 | 3.22 | 5.13 | 7.92 | 9.89 | 12.22 | ||||
| Earnings | — | — | (0.45) | (0.77) | (4.03) | (3.78) | (3.16) | (1.73) | (1.05) | 0.01 | |||||
| Cash flow | — | — | (0.27) | (0.25) | (0.64) | (1.04) | (1.43) | 0.00 | 0.87 | 1.34 | |||||
| Capex | — | — | (0.16) | (0.23) | (0.15) | (0.24) | (0.24) | (0.25) | (0.25) | (0.30) | |||||
| Free cash flow | — | — | (0.43) | (0.48) | (0.79) | (1.29) | (1.67) | (0.25) | 0.62 | 1.04 | |||||
| Book value | — | — | 0.00 | (0.27) | 8.61 | 4.17 | 3.03 | 1.82 | 2.10 | 1.27 | |||||
| Shares, m | — | — | 170 | 185 | 306 | 402 | 437 | 463 | 482 | 496 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,446.00 | ||||
| P/S | — | — | 0.00 | 0.00 | 23.15 | 8.53 | 2.15 | 4.24 | 3.76 | 2.82 | |||||
| P/B | — | — | 0.00 | 397.37 | 5.41 | 6.59 | 3.65 | 18.49 | 17.74 | 27.05 | |||||
| EV/Sales | — | — | 0.00 | 0.00 | 19.84 | 7.47 | 1.92 | 4.14 | 3.75 | 2.86 | |||||
| EV/FCF | — | — | 0.00 | (18.69) | (50.75) | (18.69) | (5.89) | (131.71) | 62.82 | 33.93 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | (46) | (47) | (194) | (420) | (626) | (2) | 418 | 663 | ||||
| Capex | — | — | (27) | (42) | (46) | (98) | (104) | (113) | (121) | (147) | |||||
| Free cash flow | — | — | (72) | (89) | (240) | (518) | (729) | (115) | 297 | 516 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | 6 | 1,640 | 1,824 | 838 | 522 | (121) | 60 | ||||
| Total debt | — | — | — | 75 | 69 | 1,248 | 1,251 | 1,254 | 1,256 | 1,836 | |||||
| Net debt | — | — | — | (145) | (2,036) | (1,381) | (528) | (370) | (74) | 231 | |||||
| Shareholders’ equity | — | — | — | (50) | 2,631 | 1,679 | 1,323 | 840 | 1,011 | 631 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (86.32) | (65.35) | (40.57) | (33.99) | (20.09) | (12.33) | 0.08 | ||||
| ROIC | — | — | 0.00 | 0.00 | (88.52) | (328.47) | (118.85) | (104.82) | (40.63) | (1.15) | |||||
| ROE | — | — | 0.00 | (11.06) | (95.43) | (70.68) | (91.83) | (74.17) | (54.81) | 0.45 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
DraftKings Inc. vs peers in Gambling (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DKNG DraftKings Inc. | $17.2B | — (loss-making) | 90.5× | −4.58% (below 0%: shrinking) | n/m | −51.62% (below 0%: shrinking) | 38.21% | (4.72%) | |
| FLUT Flutter Entertainment PLC | $13.2B | — (loss-making) | 43.5× | +3.32% (above 0%: growing) | n/m | +21.15% (above 0%: growing) | 39.60% | (3.33%) | Compare |
| LNWO Light & Wonder, Inc. | $7.0B | 24.0× | 15.2× | +2.35% (above 0%: growing) | +38.39% (above 0%: growing) | +464.29% (above 0%: growing) | 74.64% | 26.93% | Compare |
| CHDN Churchill Downs, Incorporated | $5.7B | 14.0× | 12.1× | +4.93% (above 0%: growing) | +13.58% (above 0%: growing) | +2.58% (above 0%: growing) | 42.76% | 36.43% | Compare |
| SGHC Super Group (SGHC) Limited | $5.7B | 15.1× | 14.9× | +32.30% (above 0%: growing) | +100.00% (above 0%: growing) | −39.92% (below 0%: shrinking) | 100.00% | 25.15% | Compare |
| RSI Rush Street Interactive, Inc. | $4.4B | 61.7× | 69.2× | +46.27% (above 0%: growing) | −44.44% (below 0%: shrinking) | +128.07% (above 0%: growing) | 35.47% | 11.74% | Compare |
| BRSL Brightstar Lottery | $1.8B | 7.3× | 16.1× | −7.45% (below 0%: shrinking) | n/m | −719.07% (below 0%: shrinking) | 46.92% | 19.69% | Compare |
| ACEL Accel Entertainment, Inc. | $898.0M | 15.8× | 16.9× | +9.59% (above 0%: growing) | +66.67% (above 0%: growing) | +266.72% (above 0%: growing) | 31.30% | 8.71% | Compare |
| CDRO Codere Online Luxembourg, S.A. | $437.9M | — (loss-making) | — | +232.74% (above 0%: growing) | +94.12% (above 0%: growing) | +7,111.62% (above 0%: growing) | 47.71% | 0.00% | Compare |
| Median of peers | $5.1B | 15.5× | 16.1× | +7.26% | +52.53% | +74.61% | 44.84% | 15.72% |
DraftKings Inc. (DKNG) key facts
- Strength: DraftKings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.1 billion, up 27.0% from fiscal 2024.
- DraftKings Inc. (DKNG) is a Gambling company in the Consumer Cyclical sector, listed on Nasdaq.
- As of October 16, 2026, DKNG traded at $18.90, a market capitalization of $17.2 billion.
- Return on equity was 0.45% and debt-to-equity 3.22.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.98 (grey zone) for fiscal 2025.