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DraftKings Inc. (DKNG) 10-Year Financial Performance & Capital Metrics

DKNG • • Industrial / General
Consumer CyclicalCasinos & GamingOnline Gaming & Sports BettingPure-Play Online Sports Betting
AboutDraftKings Inc. operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. The company's daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.Show more
  • Revenue $4.77B +30.1%
  • EBITDA -$338M +42.4%
  • Net Income -$507M +36.8%
  • EPS (Diluted) -1.05 +39.3%
  • Gross Margin 38.11% +1.7%
  • EBITDA Margin -7.09% +55.7%
  • Operating Margin -12.77% +40.7%
  • Net Margin -10.64% +51.4%
  • ROE -54.81% +26.1%
  • ROIC -36.93% +29.7%
  • Debt/Equity 1.32 -17.5%
  • Interest Coverage -205.81 +30.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 71.3%
  • ✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 16.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y71.28%
3Y54.37%
TTM18.51%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM35.84%

EPS CAGR

10Y-
5Y-
3Y-
TTM94.38%

ROCE

10Y Avg-105.06%
5Y Avg-42.89%
3Y Avg-35.21%
Latest-24.24%

Peer Comparison

Pure-Play Online Sports Betting
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Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
DKNGDraftKings Inc.17.65B35.46-33.7730.07%-4.9%-36.54%2.31%1.32

Profit & Loss

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+191.84M226.28M323.41M614.53M1.3B2.24B3.67B4.77B
Revenue Growth %-0.18%0.43%0.9%1.11%0.73%0.64%0.3%
Cost of Goods Sold+31.75M48.69M103.89M346.59M794.16M1.48B2.29B2.95B
COGS % of Revenue0.17%0.22%0.32%0.56%0.61%0.66%0.63%0.62%
Gross Profit+160.09M177.59M219.52M267.94M501.86M756.19M1.37B1.82B
Gross Margin %0.83%0.78%0.68%0.44%0.39%0.34%0.37%0.38%
Gross Profit Growth %-0.11%0.24%0.22%0.87%0.51%0.82%0.32%
Operating Expenses+233.29M254.37M366.07M1.11B2.06B2.27B2.16B2.43B
OpEx % of Revenue1.22%1.12%1.13%1.81%1.59%1.01%0.59%0.51%
Selling, General & Admin213.08M221.48M310.14M942.57M1.81B1.95B1.81B2.03B
SG&A % of Revenue1.11%0.98%0.96%1.53%1.4%0.87%0.49%0.43%
Research & Development20.21M32.88M55.93M168.63M253.66M318.25M355.16M397.11M
R&D % of Revenue0.11%0.15%0.17%0.27%0.2%0.14%0.1%0.08%
Other Operating Expenses-607K0000000
Operating Income+-73.2M-76.78M-146.54M-843.26M-1.56B-1.51B-789.23M-609M
Operating Margin %-0.38%-0.34%-0.45%-1.37%-1.2%-0.67%-0.22%-0.13%
Operating Income Growth %--0.05%-0.91%-4.75%-0.85%0.03%0.48%0.23%
EBITDA+-66.9M-69.28M-132.91M-765.85M-1.44B-1.34B-587.3M-338.14M
EBITDA Margin %-0.35%-0.31%-0.41%-1.25%-1.11%-0.6%-0.16%-0.07%
EBITDA Growth %--0.04%-0.92%-4.76%-0.88%0.07%0.56%0.42%
D&A (Non-Cash Add-back)6.3M7.5M13.64M77.41M121.14M169.25M201.92M270.85M
EBIT-73.2M-76.78M-146.54M-843.26M-1.52B-1.44B-788.57M-590.2M
Net Interest Income+-1.54M666K1.35M-1.07M1.96M18.7M55.74M44.3M
Interest Income0666K1.35M04.07M21.35M58.42M47.26M
Interest Expense1.54M001.07M2.11M2.65M2.68M2.96M
Other Income/Expense-2.15M666K3.87M-389.2M46.69M65.9M-2.75M15.37M
Pretax Income+-75.35M-76.11M-142.68M-1.23B-1.51B-1.45B-791.97M-593.63M
Pretax Margin %-0.39%-0.34%-0.44%-2.01%-1.17%-0.65%-0.22%-0.12%
Income Tax+210K105K58K-622K8.27M-67.87M10.17M-86.34M
Effective Tax Rate %1%1%1%1%1.01%0.95%1.01%0.85%
Net Income+-75.56M-76.22M-142.73M-1.23B-1.52B-1.38B-802.14M-507.29M
Net Margin %-0.39%-0.34%-0.44%-2%-1.18%-0.62%-0.22%-0.11%
Net Income Growth %--0.01%-0.87%-7.63%-0.24%0.1%0.42%0.37%
Net Income (Continuing)-75.56M-76.22M-142.73M-1.23B-1.52B-1.38B-802.14M-507.29M
Discontinued Operations00000000
Minority Interest00000000
EPS (Diluted)+-0.41-0.41-0.77-4.03-3.79-3.15-1.73-1.05
EPS Growth %-0%-0.88%-4.23%0.06%0.17%0.45%0.39%
EPS (Basic)-0.41-0.41-0.77-4.03-3.79-3.15-1.73-1.05
Diluted Shares Outstanding184.6M184.6M184.6M305.59M402.49M436.51M462.6M481.95M
Basic Shares Outstanding184.6M184.6M184.6M305.59M402.49M436.51M462.6M481.95M
Dividend Payout Ratio--------

Balance Sheet

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+164.6M262.17M261.15M2.19B2.75B2.08B2.07B1.53B
Cash & Short-Term Investments49.27M117.91M76.53M1.82B2.15B1.31B1.27B788.29M
Cash Only49.27M117.91M76.53M1.82B2.15B1.31B1.27B788.29M
Short-Term Investments00000000
Accounts Receivable021.33M29.84M74.77M97.81M211.18M349.31M120.38M
Days Sales Outstanding-34.4133.6844.4127.5534.434.789.22
Inventory00000000
Days Inventory Outstanding--------
Other Current Assets106.31M111.7M144M287.72M476.95M564.49M451.56M625.09M
Total Non-Current Assets+18.43M37.22M69.58M1.25B1.32B1.96B1.87B2.75B
Property, Plant & Equipment1.6M14.1M25.95M108.9M109.85M126.06M154.68M125.47M
Fixed Asset Turnover119.68x16.05x12.47x5.64x11.80x17.77x23.70x38.00x
Goodwill4.4M4.74M4.74M569.6M615.65M886.37M886.37M1.56B
Intangible Assets10.2M16.88M33.94M555.93M535.02M776.93M690.62M933.12M
Long-Term Investments002.52M2.96M9.82M10.08M10.28M13.2M
Other Non-Current Assets2.23M1.5M2.43M7.63M45.38M155.87M131.55M123.06M
Total Assets+183.03M299.39M330.73M3.44B4.07B4.04B3.94B4.28B
Asset Turnover1.05x0.76x0.98x0.18x0.32x0.55x0.93x1.11x
Asset Growth %-0.64%0.1%9.4%0.18%-0.01%-0.02%0.09%
Total Current Liabilities+161.48M195.94M255.08M554.41M929.42M1.25B1.55B1.65B
Accounts Payable13.07M11.63M16.62M28.08M52.54M10.15M34.13M53.66M
Days Payables Outstanding150.387.1658.3929.5724.152.55.436.64
Short-Term Debt2.5M3.75M6.75M00000
Deferred Revenue (Current)00001000K1000K1000K1000K
Other Current Liabilities110.82M136.04M180.81M366.39M592.68M803.44M993.35M1.07B
Current Ratio1.02x1.34x1.02x3.96x2.96x1.67x1.34x0.93x
Quick Ratio1.02x1.34x1.02x3.96x2.96x1.67x1.34x0.93x
Cash Conversion Cycle--------
Total Non-Current Liabilities+20.91M288.68M125.22M253.57M1.46B1.47B1.55B1.62B
Long-Term Debt2.5M068.36M01.25B1.25B1.25B1.26B
Capital Lease Obligations00068.78M57.34M69.33M80.83M67.66M
Deferred Tax Liabilities00000000
Other Non-Current Liabilities18.41M288.68M56.86M184.8M155.31M150.57M220.35M294.02M
Total Liabilities182.39M484.62M380.31M807.98M2.39B2.72B3.1B3.27B
Total Debt+5M3.75M75.11M81.61M1.32B1.32B1.35B1.34B
Net Debt-44.27M-114.16M-1.42M-1.74B-834.28M15.52M75.58M546.79M
Debt / Equity7.76x--0.03x0.79x1.00x1.60x1.32x
Debt / EBITDA--------
Net Debt / EBITDA--------
Interest Coverage-47.50x---788.09x-740.45x-570.26x-294.60x-205.81x
Total Equity+644K-185.23M-49.58M2.63B1.68B1.32B840.31M1.01B
Equity Growth %--288.62%0.73%54.07%-0.36%-0.21%-0.36%0.2%
Book Value per Share0.00-1.00-0.278.614.173.031.822.10
Total Shareholders' Equity644K-185.23M-49.58M2.63B1.68B1.32B840.31M1.01B
Common Stock380K384K18K79K80K84K85K87K
Retained Earnings-779.83M-856.05M-998.78M-2.23B-3.75B-5.13B-5.93B-6.44B
Treasury Stock000-288.78M-306.61M-332.13M-412.18M-563.15M
Accumulated OCI00083.53M36.49M36.49M36.49M36.49M
Minority Interest00000000

Cash Flow

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-88.44M-45.58M-46.58M-337.88M-419.51M-625.52M-1.75M417.77M
Operating CF Margin %-0.46%-0.2%-0.14%-0.55%-0.32%-0.28%-0%0.09%
Operating CF Growth %-0.48%-0.02%-6.25%-0.24%-0.49%1%239.59%
Net Income-75.56M-76.22M-142.73M-844.27M-1.52B-1.38B-802.14M-507.29M
Depreciation & Amortization6.3M7.5M13.64M77.41M121.14M169.25M201.92M270.85M
Stock-Based Compensation4.5M7.21M17.61M325.04M683.29M578.8M398.46M381.37M
Deferred Taxes145K19K54K-2.28M-15.51M-73.41M5.85M-92.73M
Other Non-Cash Items4.29M1.97M614K3.68M-41.98M-43.9M59.28M30.48M
Working Capital Changes-28.11M13.95M64.24M102.55M356.75M121.72M134.88M335.08M
Change in Receivables5.68M-4.2M-1.61M-13.8M-1.79M2.51M3.56M238.2M
Change in Inventory000-103.57M-167.93M000
Change in Payables000103.57M167.93M95.27M0-18.2M
Cash from Investing+-7.71M-26.67M-42.27M-227.34M-195.02M-208.77M-90.36M-566.6M
Capital Expenditures-7.71M-26.67M-16.7M-47.7M-98.28M-103.64M-20.9M-10.18M
CapEx % of Revenue0.04%0.12%0.05%0.08%0.08%0.05%0.01%0%
Acquisitions--------
Investments--------
Other Investing-7.12M-12.99M-25.57M-2.63M75.58M-8.61M-69.46M-114.94M
Cash from Financing+118.53M140.89M79.78M2.31B1.14B-16.73M-63.22M-144.47M
Debt Issued (Net)--------
Equity Issued (Net)--------
Dividends Paid00000000
Share Repurchases--------
Other Financing-92K-698K1.15M2.56B-91.38M8.79M16.83M6.5M
Net Change in Cash--------
Free Cash Flow+-96.15M-72.25M-88.85M-385.57M-517.78M-729.16M-115.14M407.59M
FCF Margin %-0.5%-0.32%-0.27%-0.63%-0.4%-0.33%-0.03%0.09%
FCF Growth %-0.25%-0.23%-3.34%-0.34%-0.41%0.84%4.54%
FCF per Share-0.52-0.39-0.48-1.26-1.29-1.67-0.250.85
FCF Conversion (FCF/Net Income)1.17x0.60x0.33x0.27x0.28x0.45x0.00x-0.82x
Interest Paid00260K417K0000
Taxes Paid0001.44M5.63M10.37M8.34M5.27M

Key Ratios

Metric20172018201920202021202220232024
Return on Equity (ROE)-11732.3%---95.43%-70.68%-91.83%-74.17%-54.81%
Return on Invested Capital (ROIC)----149.74%-134.63%-103.9%-52.52%-36.93%
Gross Margin83.45%78.48%67.88%43.6%38.72%33.75%37.46%38.11%
Net Margin-39.38%-33.68%-44.13%-200.45%-117.53%-61.5%-21.88%-10.64%
Debt / Equity7.76x--0.03x0.79x1.00x1.60x1.32x
Interest Coverage-47.50x---788.09x-740.45x-570.26x-294.60x-205.81x
FCF Conversion1.17x0.60x0.33x0.27x0.28x0.45x0.00x-0.82x
Revenue Growth-17.95%42.93%90.02%110.9%72.87%63.6%30.07%

Revenue by Segment

20202021202220232024
Product and Service, Other-53.07M90.75M78.22M357.03M
Product and Service, Other Growth--71.00%-13.81%356.44%
Online Gaming517.63M1.15B2.11B3.56B-
Online Gaming Growth-121.30%83.91%68.85%-
Gaming Software75.63M97.42M43M29.98M-
Gaming Software Growth-28.81%-55.86%-30.28%-
Product And Service Other21.27M----
Product And Service Other Growth-----

Revenue by Geography

20202021202220232024
UNITED STATES-1.2B2.2B3.6B4.65B
UNITED STATES Growth--83.26%63.68%29.30%
Non-US-97.28M43.66M69.77M118.56M
Non-US Growth---55.12%59.81%69.93%
U544.46M----
U Growth-----
Non Us70.07M----
Non Us Growth-----

Frequently Asked Questions

Growth & Financials

DraftKings Inc. (DKNG) reported $5.46B in revenue for fiscal year 2024. This represents a 2745% increase from $191.8M in 2017.

DraftKings Inc. (DKNG) grew revenue by 30.1% over the past year. This is strong growth.

DraftKings Inc. (DKNG) reported a net loss of $267.6M for fiscal year 2024.

Dividend & Returns

DraftKings Inc. (DKNG) has a return on equity (ROE) of -54.8%. Negative ROE indicates the company is unprofitable.

DraftKings Inc. (DKNG) generated $619.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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