DraftKings (DKNG) Financials

$33.50 -0.73 (-2.14%)

As of 10:30 AM Eastern

Annual Income Statements for DraftKings

This table shows DraftKings' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-1,232	-1,523	-1,378	-802	-507
Consolidated Net Income / (Loss)	-1,232	-1,523	-1,378	-802	-507
Net Income / (Loss) Continuing Operations	-1,232	-1,523	-1,378	-802	-507
Total Pre-Tax Income	-1,232	-1,518	-1,443	-791	-593
Total Operating Income	-843	-1,562	-1,512	-789	-609
Total Gross Profit	268	502	756	1,373	1,817
Total Revenue	615	1,296	2,240	3,665	4,768
Operating Revenue	615	1,296	2,240	3,665	4,768
Total Cost of Revenue	347	794	1,484	2,292	2,951
Operating Cost of Revenue	347	794	1,484	2,292	2,951
Total Operating Expenses	1,111	2,063	2,268	2,162	2,426
Selling, General & Admin Expense	447	828	764	607	764
Marketing Expense	495	982	1,186	1,201	1,265
Other Operating Expenses / (Income)	169	254	318	355	397
Total Other Income / (Expense), net	-389	44	69	-2.03	16
Interest Expense	1.07	2.11	2.65	2.68	2.96
Interest & Investment Income	-	4.07	21	58	47
Other Income / (Expense), net	-388	42	50	-58	-28
Income Tax Expense	-0.62	8.27	-68	10	-86
Other Gains / (Losses), net	-0.57	2.72	-2.90	-0.72	-0.47
Basic Earnings per Share	($4.03)	($3.78)	($3.16)	($1.73)	($1.05)
Weighted Average Basic Shares Outstanding	-	-	844.64M	1.73B	882.97M
Diluted Earnings per Share	($4.03)	($3.78)	($3.16)	($1.73)	($1.05)
Weighted Average Diluted Shares Outstanding	-	-	844.64M	1.73B	882.97M
Weighted Average Basic & Diluted Shares Outstanding	-	-	844.64M	1.73B	882.97M

This table shows DraftKings' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-450	-243	-397	-77	-283	-45	-143	64	-294	-135
Consolidated Net Income / (Loss)	-450	-243	-397	-77	-283	-45	-143	64	-294	-135
Net Income / (Loss) Continuing Operations	-450	-243	-397	-77	-283	-45	-143	64	-294	-135
Total Pre-Tax Income	-447	-233	-396	-76	-282	-37	-143	-9.51	-295	-146
Total Operating Income	-455	-232	-390	-69	-287	-44	-139	-32	-299	-139
Total Gross Profit	129	370	248	365	247	514	465	441	353	558
Total Revenue	502	855	770	875	790	1,231	1,175	1,104	1,095	1,393
Operating Revenue	502	855	770	875	790	1,231	1,175	1,104	1,095	1,393
Total Cost of Revenue	373	485	522	510	543	717	710	663	742	835
Operating Cost of Revenue	373	485	522	510	543	717	710	663	742	835
Total Operating Expenses	584	602	638	434	533	558	604	473	652	697
Selling, General & Admin Expense	186	173	160	136	131	179	174	165	208	217
Marketing Expense	322	345	389	207	313	291	341	216	340	369
Other Operating Expenses / (Income)	76	83	88	90	89	88	89	93	104	112
Total Other Income / (Expense), net	7.76	-0.35	-5.88	-7.25	4.78	6.32	-4.41	23	3.73	-6.36
Interest Expense	0.67	0.67	0.66	0.67	0.67	0.69	0.65	0.68	0.87	0.76
Interest & Investment Income	6.97	11	12	13	14	19	15	14	9.20	8.78
Other Income / (Expense), net	1.46	-11	-17	-20	-8.97	-12	-19	9.35	-4.60	-14
Income Tax Expense	3.18	9.71	1.37	0.65	1.29	6.86	-0.35	-74	-1.29	-11
Other Gains / (Losses), net	-0.05	-0.42	-0.12	-0.32	-0.01	-0.27	0.33	-0.24	-0.11	-0.45
Basic Earnings per Share	($1.00)	($0.52)	($0.87)	($0.17)	($0.61)	($0.08)	($0.30)	$0.13	($0.60)	($0.28)
Weighted Average Basic Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M
Diluted Earnings per Share	($1.00)	($0.52)	($0.87)	($0.17)	($0.61)	($0.08)	($0.30)	$0.10	($0.60)	($0.25)
Weighted Average Diluted Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M
Weighted Average Basic & Diluted Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M

This table details how cash moves in and out of DraftKings' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	1,884	525	-851	-155	-293
Net Cash From Operating Activities	-194	-420	-626	-1.75	418
Net Cash From Continuing Operating Activities	-194	-420	-626	-1.75	418
Net Income / (Loss) Continuing Operations	-1,232	-1,523	-1,378	-802	-507
Consolidated Net Income / (Loss)	-1,232	-1,523	-1,378	-802	-507
Depreciation Expense	77	121	169	202	271
Non-Cash Adjustments To Reconcile Net Income	714	619	431	303	660
Changes in Operating Assets and Liabilities, net	246	364	152	295	-6.10
Net Cash From Investing Activities	-227	-195	-209	-90	-567
Net Cash From Continuing Investing Activities	-227	-195	-209	-90	-567
Purchase of Property, Plant & Equipment	-39	-62	-96	-101	-106
Acquisitions	-185	-65	-104	-12	-456
Sale and/or Maturity of Investments	-	-	0.00	24	0.00
Other Investing Activities, net	-2.63	-43	-8.61	-1.40	-4.26
Net Cash From Financing Activities	2,306	1,139	-17	-63	-144
Net Cash From Continuing Financing Activities	2,306	1,139	-17	-63	-144
Repayment of Debt	-45	0.42	0.00	0.00	-2.67
Repurchase of Common Equity	-300	-18	0.00	0.00	-48
Other Financing Activities, net	892	-92	-17	-63	-94
Cash Income Taxes Paid	1.44	5.63	10	8.34	5.27

This table details how cash moves in and out of DraftKings' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	23	-185	-254	-30	93	36	-140	-410	83	174
Net Cash From Operating Activities	52	-148	-201	-18	145	72	-70	29	134	325
Net Cash From Continuing Operating Activities	52	-148	-201	-17	145	72	-70	29	134	325
Net Income / (Loss) Continuing Operations	-450	-243	-397	-77	-283	-45	-143	64	-294	-135
Consolidated Net Income / (Loss)	-450	-243	-397	-77	-283	-45	-143	64	-294	-135
Depreciation Expense	46	49	48	48	50	55	53	62	90	66
Non-Cash Adjustments To Reconcile Net Income	128	116	170	73	37	23	113	153	-6.66	401
Changes in Operating Assets and Liabilities, net	328	-69	-22	-62	340	39	-94	-249	344	-7.09
Net Cash From Investing Activities	-24	-37	-28	0.61	-40	-23	-39	-417	-32	-78
Net Cash From Continuing Investing Activities	-24	-37	-28	0.61	-40	-23	-39	-417	-32	-78
Purchase of Property, Plant & Equipment	-23	-30	-27	-22	-31	-21	-26	-24	-30	-27
Acquisitions	3.39	-7.21	-1.36	-0.60	-9.01	-1.13	-12	-393	-2.61	-49
Other Investing Activities, net	-5.31	0.40	0.31	-0.79	0.00	-0.92	-1.92	-0.39	0.65	-2.60
Net Cash From Financing Activities	-4.31	0.11	-25	-13	-13	-13	-31	-22	-19	-73
Net Cash From Continuing Financing Activities	-4.31	0.11	-25	-13	-13	-13	-31	-22	-19	-73
Repurchase of Common Equity	-4.54	22	-27	-14	-18	59	-33	-24	-20	30
Other Financing Activities, net	0.22	-22	2.19	1.14	5.51	-72	2.86	2.59	1.36	-101

This table presents DraftKings' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Total Assets	4,069	4,040	3,945	4,284
Total Current Assets	2,753	2,085	2,071	1,534
Cash & Equivalents	2,153	1,779	1,271	1,314
Restricted Cash	-	0.00	12	16
Accounts Receivable	46	51	48	58
Prepaid Expenses	26	95	99	83
Other Current Assets	529	160	643	63
Plant, Property, & Equipment, net	46	60	61	51
Total Noncurrent Assets	1,270	1,895	1,813	2,699
Long-Term Investments	9.83	10	10	13
Goodwill	616	886	886	1,555
Intangible Assets	535	777	691	933
Other Noncurrent Operating Assets	109	222	226	198
Total Liabilities & Shareholders' Equity	4,069	4,040	3,945	4,284
Total Liabilities	2,391	2,717	3,105	3,273
Total Current Liabilities	929	1,246	1,550	1,655
Accounts Payable	388	518	640	661
Other Current Liabilities	542	729	910	994
Total Noncurrent Liabilities	1,461	1,471	1,555	1,618
Long-Term Debt	1,248	1,251	1,254	1,256
Noncurrent Deferred & Payable Income Tax Liabilities	79	70	73	76
Other Noncurrent Operating Liabilities	134	150	228	285
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,679	1,323	840	1,011
Total Preferred & Common Equity	1,679	1,323	840	1,011
Total Common Equity	1,679	1,323	840	1,011
Common Stock	5,702	6,750	7,150	7,979
Retained Earnings	-3,754	-5,132	-5,934	-6,441
Treasury Stock	-307	-332	-412	-563
Accumulated Other Comprehensive Income / (Loss)	36	36	36	36

This table presents DraftKings' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	4,192	3,739	3,606	3,862	3,801	4,218	4,273
Total Current Assets	2,193	1,806	1,719	1,968	1,938	1,523	1,644
Cash & Equivalents	1,964	1,525	1,495	1,112	1,471	1,061	878
Restricted Cash	-	-	-	-	12	13	14
Accounts Receivable	41	41	32	28	53	65	64
Prepaid Expenses	99	115	83	143	135	147	81
Other Current Assets	89	125	109	685	266	237	607
Plant, Property, & Equipment, net	58	62	60	65	60	57	53
Total Noncurrent Assets	1,941	1,871	1,827	1,829	1,803	2,638	2,576
Long-Term Investments	8.75	9.96	9.64	9.63	11	11	13
Goodwill	894	886	886	886	886	1,456	1,456
Intangible Assets	789	755	735	719	682	949	892
Other Noncurrent Operating Assets	249	220	197	214	223	221	216
Total Liabilities & Shareholders' Equity	4,192	3,739	3,606	3,862	3,801	4,218	4,273
Total Liabilities	2,757	2,721	2,588	3,060	2,970	2,920	3,197
Total Current Liabilities	1,285	1,232	1,077	1,528	1,442	1,374	1,647
Accounts Payable	561	509	436	594	606	574	701
Other Current Liabilities	724	723	641	934	836	800	946
Total Noncurrent Liabilities	1,472	1,490	1,511	1,532	1,528	1,546	1,550
Long-Term Debt	1,250	1,252	1,252	1,253	1,254	1,255	1,256
Noncurrent Deferred & Payable Income Tax Liabilities	68	69	69	68	71	72	74
Other Noncurrent Operating Liabilities	153	169	189	210	202	219	221
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,435	1,018	1,018	801	831	1,298	1,076
Total Preferred & Common Equity	1,435	1,018	1,018	801	831	1,298	1,076
Total Common Equity	1,435	1,018	1,018	801	831	1,298	1,076
Common Stock	6,616	6,870	6,962	7,046	7,317	7,745	7,836
Retained Earnings	-4,889	-5,529	-5,606	-5,889	-6,077	-6,013	-6,306
Treasury Stock	-329	-359	-373	-391	-446	-470	-490
Accumulated Other Comprehensive Income / (Loss)	36	36	36	36	36	36	36

This table displays calculated financial ratios and metrics derived from DraftKings' official financial filings.

Metric	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	110.90%	72.87%	63.60%	30.07%
EBITDA Growth	0.00%	-21.25%	7.58%	50.09%	43.17%
EBIT Growth	0.00%	-23.46%	3.81%	42.05%	24.74%
NOPAT Growth	0.00%	-85.19%	3.19%	47.79%	22.84%
Net Income Growth	0.00%	-23.65%	9.53%	41.79%	36.76%
EPS Growth	0.00%	6.20%	16.40%	45.25%	39.31%
Operating Cash Flow Growth	0.00%	-116.07%	-49.11%	99.72%	23,958.77%
Free Cash Flow Firm Growth	0.00%	0.00%	41.92%	47.25%	3.65%
Invested Capital Growth	0.00%	0.00%	2.70%	2.13%	15.23%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	11.42%	3.52%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	23.11%	-31.14%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	18.11%	-18.16%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	19.27%	-18.57%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	19.80%	-21.64%
EPS Q/Q Growth	0.00%	0.00%	0.00%	20.28%	-19.32%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	3.66%	99.21%	153.74%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	35.78%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-14.11%	-35.30%
Profitability Metrics	-	-	-	-	-
Gross Margin	43.60%	38.72%	33.75%	37.46%	38.11%
EBITDA Margin	-187.69%	-107.90%	-57.68%	-17.60%	-7.69%
Operating Margin	-137.22%	-120.49%	-67.48%	-21.53%	-12.77%
EBIT Margin	-200.29%	-117.25%	-65.24%	-23.11%	-13.37%
Profit (Net Income) Margin	-200.45%	-117.53%	-61.50%	-21.88%	-10.64%
Tax Burden Percent	100.00%	100.37%	95.50%	101.38%	85.52%
Interest Burden Percent	100.09%	99.87%	98.72%	93.42%	93.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-286.06%	-136.62%	-69.65%	-49.42%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-191.98%	-92.58%	16.97%	79.45%
Return on Net Nonoperating Assets (RNNOA)	0.00%	104.57%	44.79%	-4.52%	-5.40%
Return on Equity (ROE)	0.00%	-181.49%	-91.83%	-74.17%	-54.81%
Cash Return on Invested Capital (CROIC)	0.00%	-486.06%	-139.28%	-71.75%	-63.57%
Operating Return on Assets (OROA)	0.00%	-37.35%	-36.05%	-21.21%	-15.49%
Return on Assets (ROA)	0.00%	-37.43%	-33.99%	-20.09%	-12.33%
Return on Common Equity (ROCE)	0.00%	-181.49%	-91.83%	-74.17%	-54.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-90.75%	-104.18%	-95.46%	-50.20%
Net Operating Profit after Tax (NOPAT)	-590	-1,093	-1,058	-552	-426
NOPAT Margin	-96.05%	-84.35%	-47.23%	-15.07%	-8.94%
Net Nonoperating Expense Percent (NNEP)	0.00%	-94.08%	-44.04%	-86.62%	-128.87%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-41.12%	-26.38%	-18.80%
Cost of Revenue to Revenue	56.40%	61.28%	66.25%	62.54%	61.89%
SG&A Expenses to Revenue	72.80%	63.91%	34.09%	16.55%	16.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	180.82%	159.22%	101.23%	59.00%	50.89%
Earnings before Interest and Taxes (EBIT)	-1,231	-1,520	-1,462	-847	-637
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,153	-1,398	-1,292	-645	-367
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	7.25	36.04	32.42
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	4.28	8.26	6.87
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	11.53	37.74	35.37
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.04	8.25	6.85
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	78.21
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.74	0.95	1.49	1.24
Long-Term Debt to Equity	0.00	0.74	0.95	1.49	1.24
Financial Leverage	0.00	-0.54	-0.48	-0.27	-0.07
Leverage Ratio	0.00	2.42	2.70	3.69	4.45
Compound Leverage Factor	0.00	2.42	2.67	3.45	4.14
Debt to Total Capital	0.00%	42.65%	48.61%	59.87%	55.42%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	42.65%	48.61%	59.87%	55.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	57.35%	51.39%	40.13%	44.58%
Debt to EBITDA	0.00	-0.89	-0.97	-1.94	-3.43
Net Debt to EBITDA	0.00	0.65	0.42	0.06	0.24
Long-Term Debt to EBITDA	0.00	-0.89	-0.97	-1.94	-3.43
Debt to NOPAT	0.00	-1.14	-1.18	-2.27	-2.95
Net Debt to NOPAT	0.00	0.84	0.51	0.07	0.20
Long-Term Debt to NOPAT	0.00	-1.14	-1.18	-2.27	-2.95
Altman Z-Score	0.00	0.00	-0.05	4.13	4.49
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.00	2.96	1.67	1.34	0.93
Quick Ratio	0.00	2.37	1.47	0.85	0.83
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,857	-1,079	-569	-548
Operating Cash Flow to CapEx	-494.78%	-671.57%	-648.66%	-1.73%	394.59%
Free Cash Flow to Firm to Interest Expense	0.00	-880.70	-406.96	-212.45	-185.33
Operating Cash Flow to Interest Expense	-181.46	-198.91	-235.96	-0.65	141.19
Operating Cash Flow Less CapEx to Interest Expense	-218.13	-228.53	-272.33	-38.46	105.40
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.32	0.55	0.92	1.16
Accounts Receivable Turnover	0.00	28.26	46.21	74.32	90.49
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	28.16	42.22	60.69	85.72
Accounts Payable Turnover	0.00	2.05	3.28	3.96	4.54
Days Sales Outstanding (DSO)	0.00	12.92	7.90	4.91	4.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	178.21	111.31	92.13	80.46
Cash Conversion Cycle (CCC)	0.00	-165.29	-103.42	-87.22	-76.43
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	764	785	802	924
Invested Capital Turnover	0.00	3.39	2.89	4.62	5.53
Increase / (Decrease) in Invested Capital	0.00	764	21	17	122
Enterprise Value (EV)	0.00	0.00	9,051	30,250	32,673
Market Capitalization	0.00	0.00	9,589	30,289	32,760
Book Value per Share	$0.00	$0.00	$1.57	$0.98	$1.15
Tangible Book Value per Share	$0.00	$0.00	($0.40)	($0.86)	($1.68)
Total Capital	0.00	2,927	2,574	2,094	2,267
Total Debt	0.00	1,248	1,251	1,254	1,256
Total Long-Term Debt	0.00	1,248	1,251	1,254	1,256
Net Debt	0.00	-914	-538	-39	-87
Capital Expenditures (CapEx)	39	62	96	101	106
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-329	-940	-760	-1,451
Debt-free Net Working Capital (DFNWC)	0.00	1,824	838	522	-121
Net Working Capital (NWC)	0.00	1,824	838	522	-121
Net Nonoperating Expense (NNE)	642	430	320	250	81
Net Nonoperating Obligations (NNO)	0.00	-914	-538	-39	-87
Total Depreciation and Amortization (D&A)	77	121	169	202	271
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-25.38%	-41.98%	-20.75%	-30.44%
Debt-free Net Working Capital to Revenue	0.00%	140.73%	37.42%	14.23%	-2.54%
Net Working Capital to Revenue	0.00%	140.73%	37.42%	14.23%	-2.54%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($3.16)	($1.73)	($1.05)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	844.64M	1.73B	882.97M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($3.16)	($1.73)	($1.05)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	844.64M	1.73B	882.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	844.64M	1.73B	882.97M
Normalized Net Operating Profit after Tax (NOPAT)	-590	-1,093	-1,058	-552	-426
Normalized NOPAT Margin	-96.05%	-84.35%	-47.23%	-15.07%	-8.94%
Pre Tax Income Margin	-200.46%	-117.10%	-64.40%	-21.59%	-12.44%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-1,150.30	-720.53	-551.36	-316.16	-215.43
NOPAT to Interest Expense	-551.66	-518.32	-399.18	-206.22	-144.07
EBIT Less CapEx to Interest Expense	-1,186.97	-750.15	-587.74	-353.96	-251.21
NOPAT Less CapEx to Interest Expense	-588.34	-547.94	-435.56	-244.02	-179.85
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-24.38%	-1.17%	0.00%	0.00%	-9.48%

This table displays calculated financial ratios and metrics derived from DraftKings' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	135.85%	0.00%	84.48%	87.68%	57.38%	43.94%	52.67%	26.23%	38.68%	13.15%
EBITDA Growth	24.47%	0.00%	17.15%	84.19%	39.79%	99.80%	70.86%	194.61%	13.07%	-21,873.87%
EBIT Growth	15.92%	0.00%	12.52%	70.34%	34.84%	77.11%	61.24%	74.12%	-2.58%	-176.20%
NOPAT Growth	16.74%	0.00%	24.40%	77.65%	37.02%	81.13%	64.38%	53.09%	-4.19%	-217.70%
Net Income Growth	17.34%	0.00%	15.08%	64.41%	37.16%	81.61%	64.10%	182.60%	-3.74%	-202.21%
EPS Growth	25.93%	0.00%	23.68%	66.00%	39.00%	84.62%	65.52%	158.82%	1.64%	-212.50%
Operating Cash Flow Growth	0.00%	13.81%	43.52%	89.73%	178.31%	148.54%	65.06%	265.84%	-8.12%	351.23%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	59.17%	0.00%	104.67%	11.01%	-67.03%	-363.50%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	30.93%	2.13%	-19.62%	91.65%	52.97%	15.23%
Revenue Q/Q Growth	7.67%	70.37%	-10.00%	13.68%	-9.71%	55.81%	-4.54%	-6.00%	-0.81%	27.14%
EBITDA Q/Q Growth	-58.00%	52.32%	-84.58%	88.63%	-501.59%	99.84%	-26,153.02%	136.92%	-652.72%	58.99%
EBIT Q/Q Growth	-51.10%	46.45%	-67.48%	78.11%	-231.93%	81.19%	-183.59%	85.39%	-1,215.77%	49.35%
NOPAT Q/Q Growth	-47.30%	48.97%	-67.85%	82.29%	-315.07%	84.71%	-216.92%	76.67%	-821.93%	53.39%
Net Income Q/Q Growth	-107.50%	46.13%	-63.64%	80.54%	-266.38%	84.24%	-219.51%	144.77%	-560.17%	54.08%
EPS Q/Q Growth	-100.00%	48.00%	-67.31%	80.46%	-258.82%	86.89%	-275.00%	133.33%	-700.00%	58.33%
Operating Cash Flow Q/Q Growth	130.27%	-384.17%	-35.72%	91.21%	920.47%	-50.43%	-197.68%	141.75%	354.54%	143.43%
Free Cash Flow Firm Q/Q Growth	0.00%	100.00%	0.00%	19.15%	48.32%	88.75%	199.32%	-1,641.54%	3.00%	68.79%
Invested Capital Q/Q Growth	0.00%	10.11%	-6.36%	4.28%	21.77%	-14.11%	-26.30%	148.65%	-2.81%	-35.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	25.75%	43.23%	32.21%	41.67%	31.20%	41.78%	39.57%	39.93%	32.23%	40.07%
EBITDA Margin	-81.17%	-22.72%	-46.59%	-4.66%	-31.05%	-0.03%	-8.89%	3.49%	-19.47%	-6.28%
Operating Margin	-90.65%	-27.16%	-50.64%	-7.89%	-36.28%	-3.56%	-11.82%	-2.93%	-27.26%	-9.99%
EBIT Margin	-90.36%	-28.40%	-52.86%	-10.18%	-37.41%	-4.52%	-13.42%	-2.09%	-27.68%	-11.03%
Profit (Net Income) Margin	-89.75%	-28.38%	-51.60%	-8.83%	-35.84%	-3.63%	-12.13%	5.78%	-26.81%	-9.68%
Tax Burden Percent	100.72%	104.36%	100.38%	101.28%	100.46%	119.01%	99.52%	-671.17%	99.60%	92.66%
Interest Burden Percent	98.61%	95.75%	97.26%	85.69%	95.35%	67.44%	90.86%	41.27%	97.25%	94.78%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-54.26%	-250.13%	-43.27%	-101.50%	-11.51%	-50.79%	-7.90%	-74.44%	-38.66%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-39.36%	-162.23%	-20.30%	-73.56%	-6.67%	-33.44%	-219.97%	-109.48%	20.89%
Return on Net Nonoperating Assets (RNNOA)	0.00%	16.00%	45.08%	5.02%	19.42%	1.78%	9.46%	7.74%	-28.19%	-1.42%
Return on Equity (ROE)	0.00%	-38.26%	-205.06%	-38.24%	-82.08%	-9.73%	-41.33%	-0.15%	-102.63%	-40.08%
Cash Return on Invested Capital (CROIC)	0.00%	-137.45%	0.00%	0.00%	0.00%	-71.75%	-35.09%	-94.26%	-72.34%	-63.57%
Operating Return on Assets (OROA)	0.00%	-15.70%	-36.65%	-8.47%	-30.57%	-4.15%	-14.49%	-2.29%	-31.34%	-12.78%
Return on Assets (ROA)	0.00%	-15.68%	-35.78%	-7.35%	-29.28%	-3.33%	-13.10%	6.35%	-30.36%	-11.22%
Return on Common Equity (ROCE)	0.00%	-38.26%	-205.06%	-38.24%	-82.08%	-9.73%	-41.33%	-0.15%	-102.63%	-40.08%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	-128.46%	-114.64%	-124.81%	0.00%	-65.89%	-31.30%	-38.76%	0.00%
Net Operating Profit after Tax (NOPAT)	-319	-163	-273	-48	-201	-31	-97	-23	-209	-97
NOPAT Margin	-63.46%	-19.01%	-35.45%	-5.52%	-25.40%	-2.49%	-8.27%	-2.05%	-19.08%	-7.00%
Net Nonoperating Expense Percent (NNEP)	-36.54%	-14.90%	-87.90%	-22.96%	-27.94%	-4.84%	-17.35%	212.07%	35.03%	-59.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-6.32%	-	-	-	-1.46%	-	-	-	-4.30%
Cost of Revenue to Revenue	74.25%	56.77%	67.79%	58.33%	68.80%	58.22%	60.43%	60.07%	67.77%	59.93%
SG&A Expenses to Revenue	37.11%	20.26%	20.85%	15.57%	16.55%	14.55%	14.83%	14.95%	19.00%	15.55%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	116.40%	70.39%	82.86%	49.56%	67.48%	45.33%	51.38%	42.86%	59.48%	50.07%
Earnings before Interest and Taxes (EBIT)	-454	-243	-407	-89	-296	-56	-158	-23	-303	-154
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-407	-194	-359	-41	-245	-0.40	-104	39	-213	-87
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	7.25	16.01	22.30	31.48	36.04	46.96	25.55	32.00	32.42
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	4.28	6.29	7.57	7.67	8.26	9.59	7.72	7.48	6.87
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	11.53	21.79	29.31	27.17	37.74	65.64	22.70	24.37	35.37
Enterprise Value to Revenue (EV/Rev)	0.00	4.04	6.18	7.48	7.71	8.25	9.53	7.76	7.55	6.85
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	299.81	188.99	211.31	78.21
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.87	0.95	1.23	1.23	1.56	1.49	1.51	0.97	1.17	1.24
Long-Term Debt to Equity	0.87	0.95	1.23	1.23	1.56	1.49	1.51	0.97	1.17	1.24
Financial Leverage	-0.50	-0.41	-0.28	-0.25	-0.26	-0.27	-0.28	-0.04	0.26	-0.07
Leverage Ratio	2.92	2.70	3.67	3.54	3.60	3.69	4.08	3.38	4.33	4.45
Compound Leverage Factor	2.88	2.59	3.57	3.03	3.43	2.49	3.71	1.39	4.21	4.21
Debt to Total Capital	46.56%	48.61%	55.15%	55.15%	60.99%	59.87%	60.15%	49.15%	53.85%	55.42%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	46.56%	48.61%	55.15%	55.15%	60.99%	59.87%	60.15%	49.15%	53.85%	55.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.44%	102.78%	44.85%	44.85%	39.01%	40.13%	39.85%	50.85%	46.15%	44.58%
Debt to EBITDA	0.00	-0.97	-1.03	-1.25	-1.49	-1.94	-3.21	-4.03	-4.49	-3.43
Net Debt to EBITDA	0.00	0.42	0.23	0.25	-0.16	0.06	0.61	-0.55	-1.26	0.24
Long-Term Debt to EBITDA	0.00	-0.97	-1.03	-1.25	-1.49	-1.94	-3.21	-4.03	-4.49	-3.43
Debt to NOPAT	0.00	-1.18	-1.29	-1.56	-1.83	-2.27	-3.33	-3.57	-3.49	-2.95
Net Debt to NOPAT	0.00	0.51	0.29	0.31	-0.19	0.07	0.64	-0.49	-0.98	0.20
Long-Term Debt to NOPAT	0.00	-2.36	-1.29	-1.56	-1.83	-2.27	-3.33	-3.57	-3.49	-2.95
Altman Z-Score	0.00	0.94	2.04	4.05	3.55	4.79	6.74	5.87	5.24	4.86
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.67	1.47	1.60	1.29	1.34	1.34	1.11	1.00	0.93
Quick Ratio	1.56	2.94	1.27	1.42	0.75	0.85	1.06	0.82	0.57	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,031	0.00	-1,008	-815	-421	-47	47	-725	-703	-220
Operating Cash Flow to CapEx	231.77%	-494.60%	-759.97%	-79.03%	469.70%	336.93%	-274.02%	123.34%	449.94%	1,219.44%
Free Cash Flow to Firm to Interest Expense	-1,543.89	0.00	-1,538.66	-1,223.41	-628.50	-68.83	72.48	-1,069.47	-806.62	-288.82
Operating Cash Flow to Interest Expense	78.21	-221.91	-307.62	-26.61	217.01	104.75	-108.47	43.35	153.19	427.88
Operating Cash Flow Less CapEx to Interest Expense	44.46	-266.78	-348.10	-60.28	170.81	73.66	-148.05	8.20	119.15	392.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.55	0.69	0.83	0.82	0.92	1.08	1.10	1.13	1.16
Accounts Receivable Turnover	0.00	46.21	62.60	92.64	95.67	74.32	85.93	88.29	99.98	90.49
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	42.22	41.64	50.08	53.42	60.69	66.70	73.28	78.16	85.72
Accounts Payable Turnover	0.00	3.28	3.33	4.33	3.57	3.96	4.45	5.22	4.38	4.54
Days Sales Outstanding (DSO)	0.00	7.90	5.83	3.94	3.82	4.91	4.25	4.13	3.65	4.03
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	111.31	109.70	84.24	102.26	92.13	82.01	69.97	83.42	80.46
Cash Conversion Cycle (CCC)	0.00	-103.42	-103.87	-80.30	-98.45	-87.22	-77.76	-65.84	-79.77	-76.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	713	785	735	766	933	802	591	1,469	1,428	924
Invested Capital Turnover	0.00	2.85	7.06	7.83	4.00	4.62	6.14	3.85	3.90	5.53
Increase / (Decrease) in Invested Capital	713	0.00	735	766	220	17	-144	702	494	122
Enterprise Value (EV)	0.00	9,051	16,016	22,462	25,362	30,250	38,779	33,349	34,790	32,673
Market Capitalization	0.00	9,589	16,298	22,714	25,230	30,289	39,019	33,179	34,439	32,760
Book Value per Share	$1.70	$1.57	$1.19	$1.19	$0.94	$0.98	$0.96	$1.49	$1.22	$1.15
Tangible Book Value per Share	($0.29)	($0.40)	($0.73)	($0.70)	($0.94)	($0.86)	($0.85)	($1.27)	($1.45)	($1.68)
Total Capital	2,686	2,574	2,270	2,271	2,055	2,094	2,085	2,554	2,332	2,267
Total Debt	1,250	1,251	1,252	1,252	1,253	1,254	1,254	1,255	1,256	1,256
Total Long-Term Debt	1,250	1,251	1,252	1,252	1,253	1,254	1,254	1,255	1,256	1,256
Net Debt	-722	-538	-283	-252	132	-39	-240	170	352	-87
Capital Expenditures (CapEx)	23	30	27	22	31	21	26	24	30	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,056	-940	-951	-853	-672	-760	-987	-924	-894	-1,451
Debt-free Net Working Capital (DFNWC)	908	838	574	642	439	522	496	149	-2.84	-121
Net Working Capital (NWC)	908	838	574	642	439	522	496	149	-2.84	-121
Net Nonoperating Expense (NNE)	132	80	124	29	82	14	45	-86	85	37
Net Nonoperating Obligations (NNO)	-722	-538	-283	-252	132	-39	-240	170	352	-87
Total Depreciation and Amortization (D&A)	46	49	48	48	50	55	53	62	90	66
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-41.98%	-36.67%	-28.42%	-20.43%	-20.75%	-24.24%	-21.50%	-19.42%	-30.44%
Debt-free Net Working Capital to Revenue	0.00%	74.84%	22.13%	21.38%	13.36%	14.23%	12.19%	3.47%	-0.06%	-2.54%
Net Working Capital to Revenue	0.00%	37.42%	22.13%	21.38%	13.36%	14.23%	12.19%	3.47%	-0.06%	-2.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.00)	($0.52)	($0.87)	($0.17)	($0.61)	($0.08)	($0.30)	$0.13	($0.60)	($0.28)
Adjusted Weighted Average Basic Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M
Adjusted Diluted Earnings per Share	($1.00)	($0.52)	($0.87)	($0.17)	($0.61)	($0.08)	($0.30)	$0.10	($0.60)	($0.25)
Adjusted Weighted Average Diluted Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	841.86M	844.64M	854.88M	856.99M	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M
Normalized Net Operating Profit after Tax (NOPAT)	-319	-163	-273	-48	-201	-31	-97	-23	-209	-97
Normalized NOPAT Margin	-63.46%	-19.01%	-35.45%	-5.52%	-25.40%	-2.49%	-8.27%	-2.05%	-19.08%	-7.00%
Pre Tax Income Margin	-89.11%	-27.20%	-51.41%	-8.72%	-35.67%	-3.05%	-12.19%	-0.86%	-26.92%	-10.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-678.99	-363.07	-621.07	-133.70	-441.13	-80.81	-242.94	-33.99	-347.70	-202.05
NOPAT to Interest Expense	-476.83	-242.98	-416.56	-72.57	-299.42	-44.57	-149.75	-33.44	-239.70	-128.19
EBIT Less CapEx to Interest Expense	-712.74	-407.93	-661.55	-167.36	-487.33	-111.90	-282.52	-69.13	-381.75	-237.13
NOPAT Less CapEx to Interest Expense	-510.57	-287.85	-457.04	-106.24	-345.62	-75.66	-189.33	-68.58	-273.74	-163.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-2.97%	-4.22%	-6.28%	0.00%	-15.74%	-23.81%	-23.71%	-9.48%

Frequently Asked Questions About DraftKings' Financials

When does DraftKings's fiscal year end?

According to the most recent income statement we have on file, DraftKings' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has DraftKings' net income changed over the last 4 years?

DraftKings' net income appears to be on a downward trend, with a most recent value of -$507.29 million in 2024, falling from -$1.23 billion in 2020. The previous period was -$802.14 million in 2023.

What is DraftKings's operating income?

DraftKings's total operating income in 2024 was -$609.00 million, based on the following breakdown:

Total Gross Profit: $1.82 billion
Total Operating Expenses: $2.43 billion

How has DraftKings revenue changed over the last 4 years?

Over the last 4 years, DraftKings' total revenue changed from $614.53 million in 2020 to $4.77 billion in 2024, a change of 675.8%.

How much debt does DraftKings have?

DraftKings' total liabilities were at $3.27 billion at the end of 2024, a 5.4% increase from 2023, and a 36.9% increase since 2021.

How much cash does DraftKings have?

In the past 3 years, DraftKings' cash and equivalents has ranged from $1.27 billion in 2023 to $2.15 billion in 2021, and is currently $1.31 billion as of their latest financial filing in 2024.

How has DraftKings' book value per share changed over the last 4 years?

Over the last 4 years, DraftKings' book value per share changed from 0.00 in 2020 to 1.15 in 2024, a change of 114.8%.

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This page (NASDAQ:DKNG) was last updated on 4/15/2025 by MarketBeat.com Staff

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