DraftKings
DKNG Nasdaq· Casinos & Gaming
Last close · Oct 27, 2026
$20.78
KIRA · Stoqly’s AI analyst, in plain words
- DraftKings had $6.1B of revenue in fiscal 2025, up 27.0% on the year before. Over five years, revenue changed +58.0% a year on average.
- Its operating margin was −0.3%, up 12.5 pts: of every 100 in sales, about −0 is left after running the business.
- DraftKings made $3.7M of net profit in fiscal 2025.
- Free cash flow was $648M in fiscal 2025, 10.7% of revenue.
- DraftKings returned $572M to shareholders in fiscal 2025, 88% of free cash flow. The diluted share count rose 2.9%.
- DraftKings owes $132M more than it holds in cash, about 0.5 years of operating profit.
Market cap
$10.3B
P/E
—
Revenue
$6.1B
Net income
$3.7M
Free cash flow
$648M
Operating margin
−0.3%
DraftKings in 30 seconds · fiscal 2025
Are sales growing?
+27.0%
Yes. Sales grew 27.0% last year.
Does it make a profit?
0.1%
A little. It keeps 0.1% of every sale as profit.
Does profit turn into cash?
10.7%
Yes. 10.7% of sales ends up as free cash.
Is debt under control?
0.5x
Yes. It could repay its debt with 0.5 years of operating profit.
How healthy are the accounts?
8 / 9
Solid. It passes 8 of 9 health tests.
What DraftKings does
DraftKings runs digital sports entertainment and gaming products for people who bet real money. Its main lines are online and retail sports betting, which it calls Sportsbook, and online casino games, which it calls iGaming. It also offers daily fantasy sports, a digital lottery courier service and, most recently, prediction markets where users trade event contracts. Sportsbook makes money by setting odds that build in a margin for the house. Revenue is the amount users bet on settled markets minus what is paid out to winners. iGaming and the other products earn money from their own wagers and fees. The company spends heavily on marketing, promotions and incentives to win and keep paying users. DraftKings says it competes for users' time and spending with other forms of entertainment, such as television, movies, live sports and in-person casinos, as well as with other betting and gaming companies.
Biggest risks, in its own words
- Changes in state laws, taxes or licensing that limit where and how it can offer betting and gaming.
- A history of losses, and no assurance it will be consistently profitable.
- Its reliance on Amazon Web Services and other outside providers to run its products.
- Difficulty getting banks and payment processors to handle users' deposits and withdrawals.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 13, 2026
- Legal name
- DRAFTKINGS INC.
- CIK
- 0001883685
DraftKings · DKNG
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.3B | $2.2B | $3.7B | $4.8B | $6.1B |
| Revenue growth | 110.9% | 72.9% | 63.6% | 30.1% | 27.0% |
| Gross margin | 38.7% | 33.8% | 37.5% | 38.1% | 41.3% |
| Operating margin | −120.5% | −67.5% | −21.5% | −12.8% | −0.3% |
| Net income | −$1.5B | −$1.4B | −$802M | −$507M | $3.7M |
| Net margin | −117.5% | −61.5% | −21.9% | −10.6% | 0.1% |
| Diluted EPS | −$3.78 | −$3.16 | −$1.73 | −$1.05 | −$0.01 |
| Cash | |||||
| Cash from operations | −$420M | −$626M | −$1.8M | $418M | $663M |
| Capital expenditure | $15.9M | $32.4M | $20.9M | $10.2M | $15.4M |
| Free cash flow | −$435M | −$658M | −$22.7M | $408M | $648M |
| FCF margin | −33.6% | −29.4% | −0.6% | 8.6% | 10.7% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $17.8M | $0.0M | $0.0M | $48.1M | $572M |
| Share count change | 31.7% | 8.5% | 6.0% | 4.2% | 2.9% |
| Debt and strength | |||||
| Cash and short-term investments | $2.2B | $1.3B | $1.3B | $788M | $1.1B |
| Debt incl. finance leases | $1.2B | $1.3B | $1.3B | $1.3B | $1.3B |
| Shareholders' equity | $1.7B | $1.3B | $840M | $1.0B | $632M |
| Net debt / EBITDA | — | — | — | — | 0.5x |
| Current ratio | 3.0x | 1.7x | 1.3x | 0.9x | 1.0x |
| Interest coverage | −740.5x | −570.3x | −294.6x | −205.8x | −0.6x |
| Returns and quality | |||||
| Return on capital | −155.4% | −117.2% | −59.7% | −41.8% | −0.7% |
| Return on equity | −70.7% | −91.8% | −74.2% | −54.8% | 0.5% |
| Piotroski F-score | 2 | 4 | 4 | 6 | 8 |
| Altman Z'' | −1.9 | −4.8 | −5.1 | −5.7 | −4.4 |
Insiders bought, 12 months
$3.2M
2 insiders
Insiders sold, 12 months
$20.7M
6 insiders
Of sales under plans
96%
$19.9M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
DraftKings · DKNG
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| DraftKings DKNG | $10.3B | 27.0% | −0.3% | 10.7% | −0.7% | — | 8 |
| Penn Entertainment PENN | $2.0B | 5.8% | −9.7% | −2.0% | −8.1% | — | 4 |
| Wynn Resorts WYNN | $7.5B | 0.1% | 15.7% | 9.7% | 11.6% | 17.4x | 5 |
| Boyd Gaming BYD | $5.4B | 4.1% | 18.3% | 9.5% | 13.5% | 3.1x | 6 |
| Caesars Entertainment CZR | $5.9B | 2.1% | 16.2% | 4.3% | 9.6% | — | 6 |
KIRA
At $20.78 a share, the company is worth $10.3B.
DraftKings grew sales faster than 4 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001883685). Data updated October 10, 2026. For information only — not investment advice. Check the original filings before relying on any figure.