DraftKings Inc. (DKNG) Stock Analysis
Consumer Cyclical · Gambling · NasdaqGS
DraftKings Inc. (DKNG) posted $6.05B in revenue for fiscal 2025 (up 27.0% year over year), at a 0.1% net margin, and has compounded revenue about 58.0%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on DraftKings Inc.
DraftKings Inc. has grown revenue from $614.53M to $6.05B over the last 6 fiscal years, compounding about 58% a year. The most recent year was up 27%, so growth has cooled from its longer-run pace.
Net margin sits at 0.1%, up 10.7 points year over year on a 41.3% gross margin. It carries about $1.84B of total debt.
At today's valuation the market is pricing in roughly 12.6% annual free-cash-flow growth. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from DraftKings Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
DraftKings Inc. revenue & earnings — last 6 fiscal years
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $614.53M | $1.30B | $2.24B | $3.67B | $4.77B | $6.05B |
| Gross profit | $267.94M | $501.86M | $756.19M | $1.37B | $1.82B | $2.50B |
| Net income | $-1.23B | $-1.52B | $-1.38B | $-802.14M | $-507.29M | $3.71M |
| Net margin | -200.5% | -117.5% | -61.5% | -21.9% | -10.6% | 0.1% |
Source: DraftKings Inc. SEC filings (10-K).
DraftKings Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 82.5% while revenue rose 27.0% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Share count rising (dilution)Shares outstanding grew 9.9% over 3 years (450.6M → 495.1M) — existing holders' stakes are being diluted.
What growth is priced into DKNG stock?
At today's market cap of $14.62B, DraftKings Inc. is priced for free-cash-flow growth of about 12.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $508.39M from the FY ending 2025-12-31). For comparison, revenue 58%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 6 years of DraftKings Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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DraftKings Inc. financial history by metric
About DraftKings Inc.
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.
DraftKings Inc. — frequently asked questions
What is DraftKings Inc.'s revenue?
DraftKings Inc. (DKNG) reported revenue of $6.05B for fiscal year 2025, up 27.0% from the prior year, according to its SEC filings.
Is DraftKings Inc. profitable?
Yes. DKNG earned net income of $3.71M in fiscal 2025, a net margin of 0.1%.
What is DKNG's P/E ratio?
DraftKings Inc. trades at a price-to-earnings ratio of about 327.4 based on the latest data in our nightly-refreshed cache.
How fast is DraftKings Inc. growing?
DKNG's revenue grew at roughly 58.0% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does DraftKings Inc. have?
As of fiscal year 2025, DKNG carried roughly $1.84B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is DraftKings Inc.'s gross margin?
DKNG's gross margin was 41.3% in fiscal 2025 — gross profit of $2.50B on revenue of $6.05B.
What is DraftKings Inc.'s market cap?
DraftKings Inc. (DKNG) has a market capitalization of about $14.62B, based on the latest data in our nightly-refreshed cache.
When does DraftKings Inc.'s fiscal year end?
DKNG's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into DKNG stock?
At today's market cap of $14.62B, DraftKings Inc. is priced for free-cash-flow growth of about 12.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $508.39M from the FY ending 2025-12-31). For comparison, revenue 58%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from DraftKings Inc.'s official SEC filings (10-K and 10-Q), covering 6 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.