NASDAQ : DKNG
DraftKings Inc. — Financial statements
Consumer Discretionary · Gambling · United States
Last price 20.72 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 10.29B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
DraftKings Inc. (DKNG) reported revenue of 6.22B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 6.22B | 6.05B | 4.77B | 3.67B | 2.24B | 1.30B |
| Cost of Revenue | 1.49B | 1.45B | 1.29B | 1.06B | 1.48B | 794.16M |
| Gross Profit | 4.74B | 4.61B | 3.48B | 2.61B | 756.19M | 501.86M |
| Selling, General & Admin | 2.19B | 2.04B | 1.89B | 1.80B | 1.93B | 1.78B |
| Research & Development | 499.06M | 459.91M | 397.11M | 355.16M | 318.25M | 253.66M |
| Other Operating Expenses | 2.21B | 2.11B | 1.66B | 1.24B | ||
| Operating Expenses | 4.91B | 4.61B | 3.95B | 3.39B | 2.25B | 2.04B |
| Operating Income | -169.24M | -2.60M | -473.57M | -786.16M | -1.49B | -1.54B |
| Interest Expense | -38.17M | -19.94M | -2.65M | -2.11M | ||
| Interest & Investment Income | 44.30M | 55.74M | 21.35M | 4.07M | ||
| Earnings From Equity Investments | 8.18M | 971.00K | -468.00K | -719.00K | -2.90M | 2.72M |
| Other Non Operating Income (Expenses) | 1.56M | 4.72M | -22.59M | -57.77M | 50.10M | 42.02M |
| EBT Excluding Unusual Items | -197.68M | -16.85M | -452.33M | -788.91M | -1.43B | -1.49B |
| Merger & Restructuring Charges | -13.21M | -13.21M | -54.19M | -3.06M | -17.32M | -25.32M |
| Gain (Loss) on Sale of Assets | -5.87M | |||||
| Legal Settlements | -81.25M | |||||
| Other Unusual Items | 46.65M | 38.05M | ||||
| Pretax Income | -164.25M | 7.98M | -593.63M | -791.97M | -1.45B | -1.51B |
| Income Tax Expense | 2.66M | 4.27M | -86.34M | 10.17M | -67.87M | 8.27M |
| Net Income | -166.90M | 3.71M | -507.29M | -802.14M | -1.38B | -1.52B |
| Net Income to Common | -166.90M | 3.71M | -507.29M | -802.14M | -1.38B | -1.52B |
| Shares Outstanding (Basic) | 495.78M | 495.64M | 481.95M | 462.60M | 436.51M | 402.49M |
| Shares Outstanding (Diluted) | 495.78M | 495.90M | 481.95M | 462.60M | 436.51M | 402.49M |
| EPS (Basic) | -0.34 | 0.01 | -1.05 | -1.73 | -3.16 | -3.78 |
| EPS (Diluted) | -0.35 | -0.01 | -1.05 | -1.73 | -3.16 | -3.78 |
| Free Cash Flow | 650.89M | 647.50M | 407.59M | -22.65M | -657.92M | -435.43M |
| Free Cash Flow Per Share | 1.31 | 1.31 | 0.85 | -0.05 | -1.51 | -1.08 |
| Gross Margin | 76.13% | 76.11% | 72.89% | 71.17% | 33.75% | 38.72% |
| Operating Margin | -2.72% | -0.04% | -9.93% | -21.45% | -66.70% | -118.54% |
| Profit Margin | -2.68% | 0.06% | -10.64% | -21.88% | -61.50% | -117.53% |
| Free Cash Flow Margin | 10.46% | 10.70% | 8.55% | -0.62% | -29.37% | -33.60% |
| EBITDA | 122.83M | 272.88M | -202.71M | -584.25M | -1.33B | -1.42B |
| EBITDA Margin | 1.97% | 4.51% | -4.25% | -15.94% | -59.15% | -109.19% |
| D&A For EBITDA | 292.08M | 275.49M | 270.85M | 201.92M | 169.25M | 121.14M |
| EBIT | -169.24M | -2.60M | -473.57M | -786.16M | -1.49B | -1.54B |
| EBIT Margin | -2.72% | -0.04% | -9.93% | -21.45% | -66.70% | -118.54% |
| Effective Tax Rate | 53.53% | |||||
| Advertising Expenses | 1.12B | 1.05B | 984.40M | 964.90M | 831.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 983.88M | 1.13B | 788.29M | 1.27B | 1.31B | 2.15B |
| Cash & Short-Term Investments | 983.88M | 1.13B | 788.29M | 1.27B | 1.31B | 2.15B |
| Receivables | 82.08M | 105.58M | 57.84M | 47.54M | 51.10M | 45.86M |
| Prepaid Expenses | 107.44M | 104.84M | 145.73M | 51.94M | 56.39M | 25.68M |
| Restricted Cash | 403.63M | 477.05M | 541.91M | 352.99M | 469.65M | 476.95M |
| Other Current Assets | 348.39M | 198.53M | 51.95M | |||
| Total Current Assets | 1.58B | 1.82B | 1.53B | 2.07B | 2.08B | 2.75B |
| Property, Plant & Equipment | 129.49M | 100.89M | 125.47M | 154.68M | 126.06M | 109.85M |
| Long-Term Investments | 39.44M | 28.07M | 26.73M | 23.81M | 41.86M | 37.02M |
| Goodwill | 1.60B | 1.60B | 1.56B | 886.37M | 886.37M | 615.65M |
| Other Intangible Assets | 837.44M | 889.20M | 933.12M | 690.62M | 776.93M | 535.02M |
| Long-Term Deferred Tax Assets | 7.70M | 6.80M | 7.80M | 10.70M | 7.43M | |
| Other Long-Term Assets | 96.34M | 92.27M | 102.73M | 110.21M | 113.38M | 10.75M |
| Total Assets | 4.28B | 4.53B | 4.28B | 3.94B | 4.04B | 4.07B |
| Accounts Payable | 689.25M | 67.86M | 53.66M | 34.13M | 10.15M | 52.54M |
| Accrued Expenses | 661.15M | 561.19M | 561.84M | 466.92M | 333.62M | |
| Current Portion of Leases | 9.73M | 9.79M | 10.99M | 11.50M | 4.25M | 12.81M |
| Current Unearned Revenue | 56.43M | 46.39M | 43.63M | 40.52M | 1.58M | |
| Other Current Liabilities | 851.71M | 960.24M | 982.75M | 898.52M | 724.62M | 528.87M |
| Total Current Liabilities | 1.55B | 1.76B | 1.65B | 1.55B | 1.25B | 929.42M |
| Long-Term Debt | 1.83B | 1.84B | 1.26B | 1.25B | 1.25B | 1.25B |
| Long-Term Leases | 71.28M | 44.39M | 67.66M | 80.83M | 69.33M | 57.34M |
| Long-Term Deferred Tax Liabilities | 15.20M | 13.80M | 12.40M | 9.30M | ||
| Other Long-Term Liabilities | 250.99M | 248.62M | 280.22M | 207.95M | 141.27M | 155.31M |
| Total Liabilities | 3.71B | 3.90B | 3.27B | 3.10B | 2.72B | 2.39B |
| Common Stock | 92.00K | 91.00K | 87.00K | 85.00K | 84.00K | 80.00K |
| Additional Paid-In Capital | 8.61B | 8.42B | 7.98B | 7.15B | 6.75B | 5.70B |
| Retained Earnings | -6.48B | -6.44B | -6.44B | -5.93B | -5.13B | -3.75B |
| Treasury Stock | -1.59B | -1.39B | -563.15M | -412.18M | -332.13M | -306.61M |
| Comprehensive Income & Other | 36.49M | 36.49M | 36.49M | 36.49M | 36.49M | 36.49M |
| Total Common Equity | 569.43M | 631.46M | 1.01B | 840.31M | 1.32B | 1.68B |
| Shareholders' Equity | 569.43M | 631.46M | 1.01B | 840.31M | 1.32B | 1.68B |
| Total Liabilities & Equity | 4.28B | 4.53B | 4.28B | 3.94B | 4.04B | 4.07B |
| Total Debt | 1.92B | 1.89B | 1.34B | 1.35B | 1.32B | 1.32B |
| Net Cash (Debt) | -932.13M | -762.28M | -546.79M | -75.58M | 2.73M | 861.49M |
| Net Cash Per Share | -1.88 | -1.54 | -1.13 | -0.16 | 0.01 | 2.14 |
| Filing Date Shares Outstanding | 496.45M | 492.99M | 489.96M | 473.62M | 451.63M | 408.67M |
| Total Common Shares Outstanding | 495.98M | 495.05M | 489.07M | 472.70M | 450.57M | 407.78M |
| Working Capital | 26.34M | 59.54M | -121.23M | 521.75M | 838.38M | 1.82B |
| Book Value Per Share | 1.15 | 1.28 | 2.07 | 1.78 | 2.94 | 4.12 |
| Tangible Book Value | -1.87B | -1.86B | -1.48B | -736.69M | -340.61M | 527.86M |
| Tangible Book Value Per Share | -3.76 | -3.75 | -3.02 | -1.56 | -0.76 | 1.29 |
| Machinery | 94.36M | 82.57M | 78.84M | 72.66M | 56.26M | |
| Leasehold Improvements | 61.52M | 56.35M | 57.31M | 43.05M | 30.17M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -166.90M | 3.71M | -507.29M | -802.14M | -1.38B | -1.52B |
| Depreciation & Amortization | 292.08M | 275.49M | 270.85M | 201.92M | 169.25M | 121.14M |
| Loss (Gain) From Sale of Assets | 5.87M | |||||
| Loss (Gain) From Sale of Investments | 4.41M | 4.41M | 12.94M | 75.00K | -11.00M | -11.31M |
| Loss (Gain) on Equity Investments | -8.18M | -971.00K | 468.00K | 719.00K | 2.90M | -2.72M |
| Stock-Based Compensation | 323.53M | 339.31M | 381.37M | 398.46M | 578.80M | 683.29M |
| Other Operating Activities | -68.47M | -56.44M | -81.52M | 64.33M | -109.20M | -43.47M |
| Change in Accounts Receivable | 37.60M | 2.99M | 238.20M | -138.13M | -102.81M | -23.49M |
| Change in Accounts Payable | 134.88M | 132.18M | -18.20M | 103.59M | 95.27M | 167.93M |
| Change in Income Taxes | 16.63M | 15.24M | 3.56M | 2.95M | -9.27M | 13.23M |
| Change in Other Net Operating Assets | 105.38M | -53.07M | 111.51M | 166.47M | 138.53M | 199.08M |
| Operating Cash Flow | 670.95M | 662.86M | 417.77M | -1.75M | -625.52M | -419.51M |
| Capital Expenditures | -20.06M | -15.35M | -10.18M | -20.90M | -32.40M | -15.93M |
| Cash Acquisitions | -16.38M | -16.38M | -441.49M | -96.51M | -64.97M | |
| Sale (Purchase) of Intangibles | -153.52M | -139.11M | -110.68M | -92.48M | -71.24M | -82.35M |
| Investment in Securities | 24.43M | -25.00M | ||||
| Other Investing Activities | -6.99M | -6.94M | -4.26M | -1.40M | -8.61M | -6.78M |
| Investing Cash Flow | -185.16M | -166.00M | -566.60M | -90.36M | -208.77M | -195.02M |
| Long-Term Debt Issued | 588.12M | 1.25B | ||||
| Total Debt Issued | 588.12M | 1.25B | ||||
| Long-Term Debt Repaid | -4.50M | |||||
| Total Debt Repaid | -6.00M | -4.50M | ||||
| Net Debt Issued (Repaid) | -6.00M | 583.62M | 1.25B | |||
| Issuance of Common Stock | 26.67M | 25.82M | 9.16M | 16.83M | 8.79M | 32.17M |
| Repurchase of Common Stock | -682.39M | -829.29M | -150.96M | -80.05M | -25.52M | -17.83M |
| Other Financing Activities | -508.00K | -2.60M | -2.67M | -123.55M | ||
| Financing Cash Flow | -662.23M | -222.46M | -144.47M | -63.22M | -16.73M | 1.14B |
| Foreign Exchange Rate Adjustments | 583.00K | |||||
| Net Cash Flow | -176.45M | 274.40M | -293.30M | -155.33M | -851.02M | 524.87M |
| Free Cash Flow | 650.89M | 647.50M | 407.59M | -22.65M | -657.92M | -435.43M |
| Free Cash Flow Margin | 10.46% | 10.70% | 8.55% | -0.62% | -29.37% | -33.60% |
| Free Cash Flow Per Share | 1.31 | 1.31 | 0.85 | -0.05 | -1.51 | -1.08 |
| Levered Free Cash Flow | 461.74M | 605.93M | 396.65M | 266.37M | -140.91M | -103.71M |
| Unlevered Free Cash Flow | 485.60M | 618.40M | 396.65M | 266.37M | -139.26M | -102.39M |
| Cash Interest Paid | 36.08M | 27.88M | ||||
| Cash Income Tax Paid | 2.49M | 8.24M | 5.27M | 8.34M | 10.37M | 5.63M |
| Change in Working Capital | 294.49M | 97.35M | 335.08M | 134.88M | 121.72M | 356.75M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.80B | 17.15B | 18.14B | 16.44B | 5.11B | 11.17B |
| Enterprise Value | 11.73B | 17.83B | 18.60B | 16.67B | 5.03B | 10.09B |
| Last Close Price | 20.91 | 34.46 | 37.20 | 35.25 | 11.39 | 27.47 |
| PE Ratio | 4,623.52 | |||||
| Forward PE | 56.84 | 114.22 | 215.52 | |||
| PS Ratio | 1.74 | 2.83 | 3.81 | 4.48 | 2.28 | 8.62 |
| PB Ratio | 18.21 | 27.16 | 17.95 | 19.56 | 3.87 | 6.65 |
| P/TBV Ratio | 21.15 | |||||
| P/FCF Ratio | 16.67 | 26.49 | 44.51 | |||
| P/OCF Ratio | 16.17 | 25.88 | 43.42 | |||
| EV/Sales Ratio | 1.89 | 2.94 | 3.90 | 4.55 | 2.25 | 7.79 |
| EV/EBITDA Ratio | 95.90 | 65.34 | ||||
| EV/FCF Ratio | 18.10 | 27.54 | 45.65 | |||
| Debt / Equity Ratio | 3.37 | 2.99 | 1.32 | 1.60 | 1.00 | 0.79 |
| Debt / EBITDA Ratio | 13.06 | 6.37 | ||||
| Debt / FCF Ratio | 2.94 | 2.92 | 3.28 | |||
| Net Debt / Equity Ratio | 1.64 | 1.21 | 0.54 | 0.09 | -0.00 | -0.51 |
| Net Debt / EBITDA Ratio | 7.59 | 2.79 | -2.70 | -0.13 | 0.00 | 0.61 |
| Net Debt / FCF Ratio | 1.43 | 1.18 | 1.34 | -3.34 | 0.00 | 1.98 |
| Asset Turnover | 1.42 | 1.37 | 1.16 | 0.92 | 0.55 | 0.34 |
| Quick Ratio | 0.69 | 0.70 | 0.51 | 0.85 | 1.09 | 2.37 |
| Current Ratio | 1.02 | 1.03 | 0.93 | 1.34 | 1.67 | 2.96 |
| Return on Equity (ROE) | -21.14% | 0.45% | -54.81% | -74.17% | -91.83% | -70.68% |
| Return on Assets (ROA) | -2.42% | -0.04% | -7.19% | -12.31% | -23.04% | -25.58% |
| Return on Invested Capital (ROIC) | -11.19% | -0.08% | -38.29% | -69.75% | -136.95% | -176.59% |
| Return on Capital Employed (ROCE) | -6.20% | -0.10% | -18.00% | -32.80% | -53.50% | -48.90% |
| Earnings Yield | -1.62% | 0.02% | -2.80% | -4.88% | -26.95% | -13.64% |
| FCF Yield | 6.00% | 3.77% | 2.25% | -0.14% | -12.87% | -3.90% |
| Buyback Yield / Dilution | -0.97% | -2.89% | -4.18% | -5.98% | -8.45% | -31.71% |