Boyd Gaming vs DraftKings
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KIRAβs take AI analyst
I put Boyd Gaming and DraftKings side by side, using each oneβs latest annual report. Here is what stands out:
- DraftKings is the larger business, with $6.1B of revenue in fiscal 2025 against $4.1B for Boyd Gaming.
- DraftKings grew revenue faster (27.0%, against 4.1%).
- Boyd Gaming kept more of each dollar of sales as operating profit (18.3% operating margin, against β0.3%).
- DraftKings turned more of its sales into free cash flow (10.7% FCF margin, against 9.5%).
- Boyd Gaming earned a higher return on the capital invested in it (13.5%, against β0.7%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Boyd Gaming
BYD
5/10
Operating marginNet marginReturn on capitalReturn on equityShare count change
DraftKings
DKNG
5/10
Revenue growth5-year growthFCF marginPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | BYD FY25 | DKNG FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $10.3B |
| Revenue | $4.1B | $6.1B |
| Free cash flow | $388M | $648M |
| Net income | $1.8B | $3.7M |
| Growth | ||
| Revenue growth | 4.1% | 27.0% |
| 5-year growth | 13.4% | 58.0% |
| Share count change | β12.5% | 2.9% |
| Profitability | ||
| Gross margin | β | 41.3% |
| Operating margin | 18.3% | β0.3% |
| Net margin | 45.1% | 0.1% |
| FCF margin | 9.5% | 10.7% |
| Return on capital | 13.5% | β0.7% |
| Return on equity | 88.0% | 0.5% |
| Balance sheet | ||
| Net debt | $1.7B | $132M |
| Net debt / EBITDA | 1.6x | 0.5x |
| Dividends and buybacks | $837M | $572M |
| Valuation & quality | ||
| P/E | 3.1x | β |
| Piotroski F-score | 6 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.