DraftKings vs Wynn Resorts
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The short version
- Wynn Resorts is the larger business, with $7.1B of revenue in fiscal 2025 against $6.1B for DraftKings.
- DraftKings grew revenue faster (27.0%, against 0.1%).
- Wynn Resorts kept more of each dollar of sales as operating profit (15.7% operating margin, against β0.3%).
- DraftKings turned more of its sales into free cash flow (10.7% FCF margin, against 9.7%).
- Wynn Resorts earned a higher return on the capital invested in it (11.6%, against β0.7%).
| Latest fiscal year | DKNG Β· FY25 | WYNN Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $7.5B |
| Revenue | $6.1B | $7.1B |
| Free cash flow | $648M | $692M |
| Net income | $3.7M | $327M |
| Growth | ||
| Revenue growth | 27.0% | 0.1% |
| 5-year growth | 58.0% | 27.8% |
| Share count change | 2.9% | β5.5% |
| Profitability | ||
| Gross margin | 41.3% | β |
| Operating margin | β0.3% | 15.7% |
| Net margin | 0.1% | 4.6% |
| FCF margin | 10.7% | 9.7% |
| Return on capital | β0.7% | 11.6% |
| Return on equity | 0.5% | β |
| Balance sheet | ||
| Net debt | $132M | $9.2B |
| Net debt / EBITDA | 0.5x | 5.3x |
| Dividends and buybacks | $572M | $555M |
| Valuation & quality | ||
| P/E | β | 17.4x |
| Piotroski F-score | 8 | 5 |
Revenue
FY16
DKNG β
WYNN $4.3B
FY17
DKNG β
WYNN $6.1B
FY18
DKNG $226M
WYNN $6.7B
FY19
DKNG $323M
WYNN $6.6B
FY20
DKNG $615M
WYNN $2.1B
FY21
DKNG $1.3B
WYNN $3.8B
FY22
DKNG $2.2B
WYNN $3.8B
FY23
DKNG $3.7B
WYNN $6.5B
FY24
DKNG $4.8B
WYNN $7.1B
FY25
DKNG $6.1B
WYNN $7.1B
DKNG
WYNN
Operating margin
FY16
DKNG β
WYNN 12.0%
FY17
DKNG β
WYNN 17.4%
FY18
DKNG β33.9%
WYNN 11.0%
FY19
DKNG β45.3%
WYNN 13.3%
FY20
DKNG β137.2%
WYNN β58.8%
FY21
DKNG β120.5%
WYNN β10.5%
FY22
DKNG β67.5%
WYNN β2.7%
FY23
DKNG β21.5%
WYNN 12.9%
FY24
DKNG β12.8%
WYNN 15.9%
FY25
DKNG β0.3%
WYNN 15.7%
DKNG
WYNN
Free cash flow
FY16
DKNG β
WYNN β$255M
FY17
DKNG β
WYNN $941M
FY18
DKNG β$59.3M
WYNN β$514M
FY19
DKNG β$63.3M
WYNN β$162M
FY20
DKNG β$206M
WYNN β$1.4B
FY21
DKNG β$435M
WYNN β$513M
FY22
DKNG β$658M
WYNN β$371M
FY23
DKNG β$22.7M
WYNN $805M
FY24
DKNG $408M
WYNN $1.0B
FY25
DKNG $648M
WYNN $692M
DKNG
WYNN
Return on capital
FY16
DKNG β
WYNN 6.9%
FY17
DKNG β
WYNN 13.6%
FY18
DKNG β
WYNN 8.8%
FY19
DKNG β
WYNN 6.0%
FY20
DKNG β176.2%
WYNN β10.5%
FY21
DKNG β155.4%
WYNN β3.6%
FY22
DKNG β117.2%
WYNN β1.0%
FY23
DKNG β59.7%
WYNN 11.5%
FY24
DKNG β41.8%
WYNN 15.0%
FY25
DKNG β0.7%
WYNN 11.6%
DKNG
WYNN
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.