DraftKings Inc. (DKNG) Financial Ratios
9 years of historical data (2017–2025) · Consumer Cyclical · Gambling, Resorts & Casinos
EV/EBITDA
46.94
↓-30% vs avg
5yr avg: 67.08
30Y Low67.1·High67.1
P/FCF
↓
18.31
↓-48% vs avg
5yr avg: 35.19
30Y Low26.4·High44.0
P/B Ratio
↑
18.78
↑+26% 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 18.3x P/FCF, 48% 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 | $11.9B | $17.1B | $17.9B | $16.3B | $5.0B | $11.1B | $14.2B | $2.0B | — | — |
| Enterprise Value | $12.2B | $17.4B | $18.5B | $16.4B | $5.0B | $10.2B | $12.5B | $2.0B | — | — |
| P/E Ratio → | -2953.09 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.96 | 2.82 | 3.76 | 4.45 | 2.22 | 8.53 | 23.15 | 6.11 | — | — |
| P/B Ratio | 18.78 | 27.06 | 17.74 | 19.41 | 3.76 | 6.59 | 5.41 | — | — | — |
| P/FCF | 18.31 | 26.39 | 43.99 | — | — | — | — | — | — | — |
| P/OCF | 17.89 | 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 46.9x EBITDA, 30% below its 5-year average of 67.1x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 313% 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 | 46.94 | 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 2.9%. 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 5.6%.
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 (69% above the sector average of 4.4x). 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 7.0% 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 | 5.5% | 3.8% | 2.3% | — | — | — | — | — | — | — |
| Buyback Yield | 7.0% | 4.9% | 0.8% | 0.5% | 0.5% | 0.2% | 2.0% | 0.0% | — | — |
| Total Shareholder Yield | 7.0% | 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 | $12B | -2953.1 | 46.9 | 18.3 | 41.3% | -0.3% | 0.5% | -0.9% | 7.4 |
 FLUT | $17B | -57.3 | 10.5 | 16.0 | 45.2% | 6.3% | -3.0% | 4.5% | 5.3 |
 RSI | $3B | 199.0 | 20.8 | 18.1 | 34.6% | 7.7% | 13.3% | — | 0.1 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 MGM | $10B | 50.3 | 31.6 | 5.9 | 44.4% | 5.7% | 5.9% | 1.7% | 27.8 |
 CZR | $6B | -11.5 | 8.9 | 10.9 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 GENI | $1B | -10.0 | — | 16.8 | 23.0% | -15.6% | -17.2% | -16.6% | — |
 NFLX | $374B | 34.9 | 12.6 | 39.5 | 48.5% | 29.5% | 42.8% | 29.8% | 0.5 |
 EA | $50B | 57.2 | 39.8 | 21.6 | 79.0% | 15.4% | 13.5% | 14.7% | 1.2 |
 SRAD | $4B | 37.9 | 17.4 | 8.8 | 21.1% | 9.1% | 10.1% | 12.9% | 0.4 |
 VICI | $31B | 11.0 | 8.2 | 12.2 | 99.2% | 91.1% | 10.1% | 7.6% | — |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 15.0 | 36.9% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
Full DKNG Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See DKNG's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs DKNG Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare DKNG vs FLUT
Side-by-side business, growth, and profitability comparison vs Flutter Entertainment plc.
Start ComparisonDKNG — 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 -2953.1x. 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 46.9x. 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 -2953.1x. 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.