DraftKings Inc. (DKNG) Financial Ratios
9 years of historical data (2017–2025) · Consumer Cyclical · Gambling, Resorts & Casinos
EV/EBITDA
51.65
↓-23% vs avg
5yr avg: 67.08
30Y Low67.1·High67.1
P/FCF
↓
20.20
↓-43% vs avg
5yr avg: 35.19
30Y Low26.4·High44.0
P/B Ratio
↑
20.72
↑+39% vs avg
5yr avg: 14.91
30Y Low3.8·High27.1
ROE
↑
0.5%
↓+101% vs avg
5yr avg: -58.2%
30Y Low-95%·High0%
Debt/EBITDA
7.45
+0% vs avg
5yr avg: 7.45
30Y Low7.4·High7.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DKNG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
DraftKings Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 20.2x P/FCF, 43% below the 5-year average of 35.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.1B | $17.1B | $17.9B | $16.3B | $5.0B | $11.1B | $14.2B | $2.0B | — | — |
| Enterprise Value | $13.4B | $17.4B | $18.5B | $16.4B | $5.0B | $10.2B | $12.5B | $2.0B | — | — |
| P/E Ratio → | -3258.02 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.16 | 2.82 | 3.76 | 4.45 | 2.22 | 8.53 | 23.15 | 6.11 | — | — |
| P/B Ratio | 20.72 | 27.06 | 17.74 | 19.41 | 3.76 | 6.59 | 5.41 | — | — | — |
| P/FCF | 20.20 | 26.39 | 43.99 | — | — | — | — | — | — | — |
| P/OCF | 19.74 | 25.78 | 42.92 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
DKNG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
DraftKings Inc.'s enterprise value stands at 51.7x EBITDA, 23% below its 5-year average of 67.1x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 324% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.88 | 3.88 | 4.47 | 2.23 | 7.89 | 20.33 | 6.10 | — | — |
| EV / EBITDA | 51.65 | 67.08 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 26.90 | 45.33 | — | — | — | — | — | — | — |
DKNG Profitability
Margins and return-on-capital ratios measuring operating efficiency
DraftKings Inc. earns an operating margin of -0.3%, below the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from -21.5% to -0.3% over the past 3 years, signaling improving operational efficiency. ROE of 0.5% is modest, trailing the sector median of 5.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.3% | 41.3% | 38.1% | 37.5% | 33.8% | 38.7% | 43.6% | 67.9% | 78.5% | 83.5% |
| Operating Margin | -0.3% | -0.3% | -12.8% | -21.5% | -67.5% | -120.5% | -137.2% | -45.3% | -33.9% | -38.2% |
| Net Profit Margin | 0.1% | 0.1% | -10.6% | -21.9% | -61.5% | -117.5% | -200.5% | -44.1% | -33.7% | -39.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | -54.8% | -74.2% | -91.8% | -70.7% | -95.4% | — | — | -11732.3% |
| ROA | 0.1% | 0.1% | -12.3% | -20.1% | -34.0% | -40.6% | -65.3% | -45.3% | -31.6% | -41.3% |
| ROIC | -0.9% | -0.9% | -36.9% | -52.5% | -103.9% | -134.6% | -149.7% | — | — | — |
| ROCE | -0.6% | -0.6% | -24.2% | -30.4% | -51.0% | -51.8% | -57.0% | -163.6% | -122.8% | -339.6% |
DKNG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
DraftKings Inc. carries a Debt/EBITDA ratio of 7.4x, which is highly leveraged (56% above the sector average of 4.8x). Net debt stands at $330M ($1.9B total debt minus $1.6B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.06 | 3.06 | 1.32 | 1.60 | 1.00 | 0.79 | 0.03 | — | — | 7.76 |
| Debt / EBITDA | 7.45 | 7.45 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.52 | 0.54 | 0.09 | 0.01 | -0.50 | -0.66 | — | — | -68.74 |
| Net Debt / EBITDA | 1.27 | 1.27 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.51 | 1.34 | — | — | — | — | — | — | — |
| Interest Coverage | -0.79 | -0.79 | -199.46 | -294.35 | -543.31 | -718.60 | -788.09 | — | — | -47.50 |
DKNG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.03x means DraftKings Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.34x to 1.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.03 | 1.03 | 0.93 | 1.34 | 1.67 | 2.96 | 3.96 | 1.02 | 1.34 | 1.02 |
| Quick Ratio | 1.03 | 1.03 | 0.93 | 1.34 | 1.67 | 2.96 | 3.96 | 1.02 | 1.34 | 1.02 |
| Cash Ratio | 0.91 | 0.91 | 0.48 | 0.82 | 1.05 | 2.32 | 3.28 | 0.30 | 0.60 | 0.31 |
| Asset Turnover | — | 1.34 | 1.11 | 0.93 | 0.55 | 0.32 | 0.18 | 0.98 | 0.76 | 1.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 6.36 | 9.22 | 34.78 | 34.40 | 27.55 | 44.41 | 33.68 | 34.41 | — |
DKNG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
DraftKings Inc. returns 6.3% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 4.9% | 3.8% | 2.3% | — | — | — | — | — | — | — |
| Buyback Yield | 6.3% | 4.9% | 0.8% | 0.5% | 0.5% | 0.2% | 2.0% | 0.0% | — | — |
| Total Shareholder Yield | 6.3% | 4.9% | 0.8% | 0.5% | 0.5% | 0.2% | 2.0% | 0.0% | — | — |
| Shares Outstanding | — | $496M | $482M | $463M | $437M | $402M | $306M | $185M | $185M | $185M |
Peer Comparison
Compare DKNG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DKNGYou | $13B | -3258.0 | 51.7 | 20.2 | 41.3% | -0.3% | 0.5% | -0.9% | 7.4 |
 FLUT | $18B | -58.9 | 10.7 | 16.4 | 45.2% | 6.3% | -3.0% | 4.5% | 5.3 |
 RSI | $3B | 207.8 | 21.9 | 18.9 | 34.6% | 7.7% | 13.3% | — | 0.1 |
 PENN | $3B | -3.7 | 14.7 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 MGM | $12B | 61.6 | 32.7 | 7.2 | 44.4% | 5.7% | 5.9% | 1.7% | 27.8 |
 CZR | $6B | -12.1 | 9.0 | 11.4 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 GENI | $2B | -13.9 | — | 24.3 | 23.0% | -15.6% | -17.2% | -16.6% | — |
 NFLX | $328B | 30.6 | 11.1 | 34.7 | 48.5% | 29.5% | 42.8% | 29.8% | 0.5 |
 EA | $51B | 57.6 | 40.1 | 21.8 | 79.0% | 15.4% | 13.5% | 14.7% | 1.2 |
 SRAD | $4B | 43.7 | 20.3 | 10.2 | 21.1% | 9.1% | 10.1% | 12.9% | 0.4 |
 VICI | $28B | 10.1 | 7.5 | 11.2 | 99.2% | 91.1% | 10.1% | 7.6% | — |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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DKNG — Frequently Asked Questions
Quick answers to the most common questions about buying DKNG stock.
What is DraftKings Inc.'s P/E ratio?
DraftKings Inc.'s current P/E ratio is -3258.0x. This places it at the 50th percentile of its historical range.
What is DraftKings Inc.'s EV/EBITDA?
DraftKings Inc.'s current EV/EBITDA is 51.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 67.1x.
What is DraftKings Inc.'s ROE?
DraftKings Inc.'s return on equity (ROE) is 0.5%. The historical average is -64.4%.
Is DKNG stock overvalued?
Based on historical data, DraftKings Inc. is trading at a P/E of -3258.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are DraftKings Inc.'s profit margins?
DraftKings Inc. has 41.3% gross margin and -0.3% operating margin.
How much debt does DraftKings Inc. have?
DraftKings Inc.'s Debt/EBITDA ratio is 7.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.