DraftKings (DKNG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

DraftKings

NasdaqGS•Consumer Cyclical•Gambling

$24.63-0.11(<0.01%)Market open

Market Cap

$11.15B

P/S

1.8x

P/B

19.6x

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. The company offers online and retail sports betting, daily fantasy sports, digital lottery couriers, prediction markets, and other products, as well as retails sportsbooks. It also provides iGaming, or online casino products, which includes blackjack, roulette, baccarat and slot machines. In addition, the company engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. DraftKings Inc. was founded in 2011 and is headquartered in Boston, Massachusetts.

How this company scores

AverageMetricSide Score: 58/100

Strongest: Growth (23/25); weakest: Balance Sheet & Red Flags (6/25).

Profitability14/25

Growth23/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality15/25

Strengths

Growing revenueRising free cash flowLong cash runwayRising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 176.4x5y range 176.4x – 4647.8x

P/S · 1.8x5y range 1.6x – 5.2x

Currently below its 15-quarter median.

P/B · 19.6x5y range 3.1x – 28.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $11.15B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.22B
Q. Revenue: $1.44B
TTM EBITDA: $109.62M
TTM Op. Income: $-182.46M
Q. Op. Income: $-68.17M
TTM Net Income: $-166.90M
Q. Net Income: $-67.61M
EPS: $-0.14
Shares Out.: $496.09M

$6.22B in TTM revenue grew 15.0% YoY, reaching $1.44B last quarter. TTM EBITDA of $109.62M and TTM operating income of $-182.46M show growth is flowing through to the bottom line. However, net income is negative at $166.90M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 15% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 38.2%
EBITDA Margin: 0.8%
Op. Margin: -4.7%
Net Margin: -4.7%

Op. margin of -4.7% is down 14.7% YoY — costs are rising relative to revenue. Net margin at -4.7% and gross margin of 38.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.8x
P/B Ratio: 19.6x

P/S of 1.8x and P/B of 19.6x. P/S is low relative to typical market levels. Over the past year, P/E is up 0% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.28B
Cash: $983.88M
Long-Term Debt: $1.83B
Book Value: $569.43M
D/E Ratio: 3.2
Debt/EBITDA: 150.8

With $4.28B in assets and $1.83B in long-term debt, D/E is 3.2and book value is $569.43M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 4 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $111.44M
TTM Free Cash Flow: $650.89M
FCF Margin: 10.5%
FCF / Net Income: -3.9

TTM FCF of $650.89M on $111.44M in operating cash flow. The FCF / Net Income ratio of -3.9x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 30% — a weakening trend.