DraftKings (DKNG) Financials

$23.81 -1.31 (-5.21%)

As of 05/26/2026 04:00 PM 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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-1,232	-1,523	-1,378	-802	-507	3.71
Consolidated Net Income / (Loss)	-1,232	-1,523	-1,378	-802	-507	3.71
Net Income / (Loss) Continuing Operations	-1,232	-1,523	-1,378	-802	-507	3.71
Total Pre-Tax Income	-1,232	-1,518	-1,443	-791	-593	7.01
Total Operating Income	-843	-1,562	-1,512	-789	-609	-16
Total Gross Profit	268	502	756	1,373	1,817	2,498
Total Revenue	615	1,296	2,240	3,665	4,768	6,055
Operating Revenue	615	1,296	2,240	3,665	4,768	6,055
Total Cost of Revenue	347	794	1,484	2,292	2,951	3,557
Operating Cost of Revenue	347	794	1,484	2,292	2,951	3,557
Total Operating Expenses	1,111	2,063	2,268	2,162	2,426	2,513
Selling, General & Admin Expense	447	828	764	607	764	674
Marketing Expense	495	982	1,186	1,201	1,265	1,380
Research & Development Expense	-	-	-	355	-	460
Total Other Income / (Expense), net	-389	44	69	-2.03	16	23
Interest & Investment Income	-	4.07	21	56	44	-20
Other Income / (Expense), net	-388	42	50	-58	-28	43
Income Tax Expense	-0.62	8.27	-68	10	-86	4.27
Other Gains / (Losses), net	-0.57	2.72	-2.90	-0.72	-0.47	0.97
Basic Earnings per Share	($4.03)	($3.78)	($3.16)	($1.73)	($1.05)	$0.01
Weighted Average Basic Shares Outstanding	-	-	844.64M	1.73B	882.97M	886.01M
Diluted Earnings per Share	($4.03)	($3.78)	($3.16)	($1.73)	($1.05)	($0.01)
Weighted Average Diluted Shares Outstanding	-	-	844.64M	1.73B	882.97M	886.01M
Weighted Average Basic & Diluted Shares Outstanding	-	-	844.64M	1.73B	882.97M	886.01M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-283	-45	-143	64	-294	-135	-34	158	-257	136	21
Consolidated Net Income / (Loss)	-283	-45	-143	64	-294	-135	-34	158	-257	136	21
Net Income / (Loss) Continuing Operations	-283	-45	-143	64	-294	-135	-34	158	-257	136	21
Total Pre-Tax Income	-282	-37	-143	-9.51	-295	-146	-39	170	-271	147	23
Total Operating Income	-287	-44	-139	-32	-299	-139	-46	151	-272	152	5.85
Total Gross Profit	247	514	465	441	353	558	565	658	360	915	697
Total Revenue	790	1,231	1,175	1,104	1,095	1,393	1,409	1,513	1,144	1,989	1,646
Operating Revenue	790	1,231	1,175	1,104	1,095	1,393	1,409	1,513	1,144	1,989	1,646
Total Cost of Revenue	543	717	710	663	742	835	844	855	784	1,075	949
Operating Cost of Revenue	543	717	710	663	742	835	844	855	784	1,075	949
Total Operating Expenses	533	558	604	473	652	697	611	507	632	763	691
Selling, General & Admin Expense	131	179	174	165	208	217	164	166	157	187	166
Marketing Expense	313	291	341	216	340	369	344	233	360	443	402
Other Operating Expenses / (Income)	89	88	89	93	104	112	103	108	115	-	123
Total Other Income / (Expense), net	4.78	6.32	-4.41	23	3.73	-6.36	6.91	19	1.38	-4.74	17
Interest & Investment Income	14	19	15	14	8.33	8.78	4.40	12	-20	-22	-5.74
Other Income / (Expense), net	-8.97	-12	-19	9.35	-4.60	-14	2.52	19	21	0.69	23
Income Tax Expense	1.29	6.86	-0.35	-74	-1.29	-11	-5.60	12	-12	10	6.37
Other Gains / (Losses), net	-0.01	-0.27	0.33	-0.24	-0.11	-0.45	-0.05	-0.19	1.66	-0.45	4.52
Basic Earnings per Share	($0.61)	($0.08)	($0.30)	$0.13	($0.60)	($0.28)	($0.07)	$0.32	($0.52)	$0.28	$0.04
Weighted Average Basic Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M
Diluted Earnings per Share	($0.61)	($0.08)	($0.30)	$0.10	($0.60)	($0.25)	($0.07)	$0.30	($0.52)	$0.28	$0.03
Weighted Average Diluted Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M
Weighted Average Basic & Diluted Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M

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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1,884	525	-851	-155	-293	274
Net Cash From Operating Activities	-194	-420	-626	-1.75	418	663
Net Cash From Continuing Operating Activities	-194	-420	-626	-1.75	418	663
Net Income / (Loss) Continuing Operations	-1,232	-1,523	-1,378	-802	-507	3.71
Consolidated Net Income / (Loss)	-1,232	-1,523	-1,378	-802	-507	3.71
Depreciation Expense	77	121	169	202	271	275
Non-Cash Adjustments To Reconcile Net Income	714	619	431	303	319	365
Changes in Operating Assets and Liabilities, net	246	364	152	295	335	18
Net Cash From Investing Activities	-227	-195	-209	-90	-567	-166
Net Cash From Continuing Investing Activities	-227	-195	-209	-90	-567	-166
Purchase of Property, Plant & Equipment	-39	-62	-96	-101	-106	-147
Acquisitions	-185	-65	-104	0.00	-456	-16
Sale and/or Maturity of Investments	-	-	0.00	24	0.00	0.00
Other Investing Activities, net	-2.63	-43	-8.61	-14	-4.26	-3.11
Net Cash From Financing Activities	2,306	1,139	-17	-63	-144	-222
Net Cash From Continuing Financing Activities	2,306	1,139	-17	-63	-144	-222
Repayment of Debt	-45	0.42	0.00	0.00	-2.67	-7.10
Repurchase of Common Equity	-300	-18	0.00	0.00	-48	-572
Issuance of Debt	79	1,248	-	0.00	0.00	588
Issuance of Common Equity	1,680	-	-	0.00	0.00	15
Other Financing Activities, net	892	-92	-17	-63	-94	-247
Cash Interest Paid	0.42	0.00	-	0.00	0.00	28
Cash Income Taxes Paid	1.44	5.63	10	8.34	5.27	8.24

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	93	36	-140	-410	83	174	215	19	144	-104	-218
Net Cash From Operating Activities	145	72	-70	29	134	325	-119	174	287	320	-48
Net Cash From Continuing Operating Activities	145	72	-70	29	134	325	-119	174	287	320	-48
Net Income / (Loss) Continuing Operations	-283	-45	-143	64	-294	-135	-34	158	-257	136	21
Consolidated Net Income / (Loss)	-283	-45	-143	64	-294	-135	-34	158	-257	136	21
Depreciation Expense	50	55	53	62	90	66	70	65	66	74	72
Non-Cash Adjustments To Reconcile Net Income	37	23	113	153	-6.66	401	80	86	61	158	39
Changes in Operating Assets and Liabilities, net	340	39	-94	-249	344	-7.09	-235	-135	418	-48	-180
Net Cash From Investing Activities	-40	-23	-39	-417	-32	-78	-39	-35	-42	-50	-48
Net Cash From Continuing Investing Activities	-40	-23	-39	-417	-32	-78	-39	-35	-42	-50	-48
Purchase of Property, Plant & Equipment	-31	-21	-26	-24	-30	-27	-34	-33	-37	-42	-44
Acquisitions	-9.01	-1.13	-12	-393	-2.61	-49	-1.63	1.63	-	-16	-1.06
Other Investing Activities, net	0.00	-0.92	-1.92	-0.39	0.65	-2.60	-3.50	-3.41	-4.38	8.17	-3.00
Net Cash From Financing Activities	-13	-13	-31	-22	-19	-73	373	-120	-101	-374	-121
Net Cash From Continuing Financing Activities	-13	-13	-31	-22	-19	-73	373	-120	-101	-374	-121
Repayment of Debt	-	-	0.00	-	-	-	-2.09	-1.50	-1.50	-2.01	-1.50
Repurchase of Common Equity	-18	59	0.00	-24	-20	30	-142	-100	-71	-258	-99
Issuance of Debt	-	-	0.00	-	-	-	588	-	-	-	0.00
Other Financing Activities, net	5.51	-72	-31	2.59	1.36	-101	-71	-25	-29	-123	-21
Cash Interest Paid	-	-	0.00	-	-	-	3.14	6.28	9.21	9.25	8.22
Cash Income Taxes Paid	-	-	-	-	-	-	1.85	-	-	-	0.41

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	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,069	4,040	3,945	4,284	4,531
Total Current Assets	2,753	2,085	2,071	1,534	1,815
Cash & Equivalents	2,153	1,779	1,271	788	1,128
Restricted Cash	-	0.00	12	16	7.60
Accounts Receivable	46	51	48	58	106
Prepaid Expenses	26	95	99	146	105
Other Current Assets	529	160	643	525	469
Plant, Property, & Equipment, net	46	60	61	51	51
Total Noncurrent Assets	1,270	1,895	1,813	2,699	2,665
Long-Term Investments	9.83	10	10	13	19
Goodwill	616	886	886	1,555	1,598
Intangible Assets	535	777	691	933	889
Other Noncurrent Operating Assets	109	222	226	198	159
Total Liabilities & Shareholders' Equity	4,069	4,040	3,945	4,284	4,531
Total Liabilities	2,391	2,717	3,105	3,273	3,899
Total Current Liabilities	929	1,246	1,550	1,655	1,755
Accounts Payable	388	518	640	661	785
Other Current Liabilities	542	729	910	994	970
Total Noncurrent Liabilities	1,461	1,471	1,555	1,618	2,144
Long-Term Debt	1,248	1,251	1,254	1,256	1,836
Noncurrent Deferred & Payable Income Tax Liabilities	79	70	73	76	92
Other Noncurrent Operating Liabilities	134	150	228	285	217
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,679	1,323	840	1,011	631
Total Preferred & Common Equity	1,679	1,323	840	1,011	631
Total Common Equity	1,679	1,323	840	1,011	631
Common Stock	5,702	6,750	7,150	7,979	8,425
Retained Earnings	-3,754	-5,132	-5,934	-6,441	-6,438
Treasury Stock	-307	-332	-412	-563	-1,392
Accumulated Other Comprehensive Income / (Loss)	36	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	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,192	3,739	3,606	3,862	3,801	4,218	4,273	4,516	4,474	4,624	4,308
Total Current Assets	2,193	1,806	1,719	1,968	1,938	1,523	1,644	1,801	1,787	1,945	1,578
Cash & Equivalents	1,964	1,525	1,495	1,112	1,471	1,061	878	1,120	1,559	1,704	999
Restricted Cash	-	-	-	-	12	13	14	17	4.62	4.59	8.75
Accounts Receivable	41	41	32	28	53	65	64	67	69	66	86
Prepaid Expenses	99	115	83	143	135	147	81	108	86	115	105
Other Current Assets	89	125	109	685	266	237	607	489	68	56	379
Plant, Property, & Equipment, net	58	62	60	65	60	57	53	53	53	52	53
Total Noncurrent Assets	1,941	1,871	1,827	1,829	1,803	2,638	2,576	2,662	2,634	2,627	2,677
Long-Term Investments	8.75	9.96	9.64	9.63	11	11	13	13	14	19	26
Goodwill	894	886	886	886	886	1,456	1,456	1,555	1,555	1,555	1,598
Intangible Assets	789	755	735	719	682	949	892	905	880	861	868
Other Noncurrent Operating Assets	249	220	197	214	223	221	216	189	185	192	185
Total Liabilities & Shareholders' Equity	4,192	3,739	3,606	3,862	3,801	4,218	4,273	4,516	4,474	4,624	4,308
Total Liabilities	2,757	2,721	2,588	3,060	2,970	2,920	3,197	3,643	3,465	3,892	3,702
Total Current Liabilities	1,285	1,232	1,077	1,528	1,442	1,374	1,647	1,499	1,335	1,776	1,548
Accounts Payable	561	509	436	594	606	574	701	577	553	711	704
Other Current Liabilities	724	723	641	934	836	800	946	922	781	1,065	844
Total Noncurrent Liabilities	1,472	1,490	1,511	1,532	1,528	1,546	1,550	2,144	2,130	2,116	2,154
Long-Term Debt	1,250	1,252	1,252	1,253	1,254	1,255	1,256	1,843	1,836	1,836	1,835
Noncurrent Deferred & Payable Income Tax Liabilities	68	69	69	68	71	72	74	75	84	88	93
Other Noncurrent Operating Liabilities	153	169	189	210	202	219	221	226	210	192	226
Commitments & Contingencies	0.00	0.00	0.00	0.00	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	873	1,010	732	605
Total Preferred & Common Equity	1,435	1,018	1,018	801	831	1,298	1,076	873	1,010	732	605
Total Common Equity	1,435	1,018	1,018	801	831	1,298	1,076	873	1,010	732	605
Common Stock	6,616	6,870	6,962	7,046	7,317	7,745	7,836	8,091	8,198	8,280	8,500
Retained Earnings	-4,889	-5,529	-5,606	-5,889	-6,077	-6,013	-6,306	-6,475	-6,317	-6,574	-6,416
Treasury Stock	-329	-359	-373	-391	-446	-470	-490	-780	-908	-1,011	-1,515
Accumulated Other Comprehensive Income / (Loss)	36	36	36	36	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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	110.90%	72.87%	63.60%	30.07%	26.99%
EBITDA Growth	0.00%	-21.25%	7.58%	50.09%	43.17%	182.50%
EBIT Growth	0.00%	-23.46%	3.81%	42.05%	24.74%	104.23%
NOPAT Growth	0.00%	-85.19%	3.19%	47.79%	22.84%	98.55%
Net Income Growth	0.00%	-23.65%	9.53%	41.79%	36.76%	100.73%
EPS Growth	0.00%	6.20%	16.40%	45.25%	39.31%	99.05%
Operating Cash Flow Growth	0.00%	-116.07%	-49.11%	99.72%	23,958.77%	58.67%
Free Cash Flow Firm Growth	0.00%	0.00%	41.92%	47.25%	3.65%	112.10%
Invested Capital Growth	0.00%	0.00%	2.70%	2.13%	15.23%	-9.39%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	11.42%	3.52%	10.93%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	23.11%	-31.14%	2,737.04%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	18.11%	-18.16%	109.66%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	19.27%	-18.57%	97.12%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	19.80%	-21.64%	101.39%
EPS Q/Q Growth	0.00%	0.00%	0.00%	20.28%	-19.32%	98.15%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	3.66%	99.21%	153.74%	-0.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	35.78%	-65.11%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-14.11%	-35.30%	56.19%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	43.60%	38.72%	33.75%	37.46%	38.11%	41.25%
EBITDA Margin	-187.69%	-107.90%	-57.68%	-17.60%	-7.69%	5.00%
Operating Margin	-137.22%	-120.49%	-67.48%	-21.53%	-12.77%	-0.26%
EBIT Margin	-200.29%	-117.25%	-65.24%	-23.11%	-13.37%	0.45%
Profit (Net Income) Margin	-200.45%	-117.53%	-61.50%	-21.88%	-10.64%	0.06%
Tax Burden Percent	100.00%	100.37%	95.50%	101.38%	85.52%	52.90%
Interest Burden Percent	100.09%	99.87%	98.72%	93.42%	93.05%	26.02%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	60.94%
Return on Invested Capital (ROIC)	0.00%	-286.06%	-136.62%	-69.65%	-49.42%	-0.45%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-191.98%	-92.58%	16.97%	79.45%	1.32%
Return on Net Nonoperating Assets (RNNOA)	0.00%	104.57%	44.79%	-4.52%	-5.40%	0.90%
Return on Equity (ROE)	0.00%	-181.49%	-91.83%	-74.17%	-54.81%	0.45%
Cash Return on Invested Capital (CROIC)	0.00%	-486.06%	-139.28%	-71.75%	-63.57%	9.40%
Operating Return on Assets (OROA)	0.00%	-37.35%	-36.05%	-21.21%	-15.49%	0.61%
Return on Assets (ROA)	0.00%	-37.43%	-33.99%	-20.09%	-12.33%	0.08%
Return on Common Equity (ROCE)	0.00%	-181.49%	-91.83%	-74.17%	-54.81%	0.45%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-90.75%	-104.18%	-95.46%	-50.20%	0.00%
Net Operating Profit after Tax (NOPAT)	-590	-1,093	-1,058	-552	-426	-6.18
NOPAT Margin	-96.05%	-84.35%	-47.23%	-15.07%	-8.94%	-0.10%
Net Nonoperating Expense Percent (NNEP)	0.00%	-94.08%	-44.04%	-86.62%	-128.87%	-1.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-41.12%	-26.38%	-18.80%	-0.25%
Cost of Revenue to Revenue	56.40%	61.28%	66.25%	62.54%	61.89%	58.75%
SG&A Expenses to Revenue	72.80%	63.91%	34.09%	16.55%	16.03%	11.13%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	7.60%
Operating Expenses to Revenue	180.82%	159.22%	101.23%	59.00%	50.89%	41.51%
Earnings before Interest and Taxes (EBIT)	-1,231	-1,520	-1,462	-847	-637	27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,153	-1,398	-1,292	-645	-367	302
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	7.25	36.04	32.42	48.61
Price to Tangible Book Value (P/TBV)	0.00	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	5.07
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	8,273.99
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	11.53	37.74	35.37	23.90
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.04	8.25	6.85	5.18
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	103.75
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	1,164.13
Enterprise Value to NOPAT (EV/NOPAT)	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	78.21	47.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	241.60
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.74	0.95	1.49	1.24	2.91
Long-Term Debt to Equity	0.00	0.74	0.95	1.49	1.24	2.91
Financial Leverage	0.00	-0.54	-0.48	-0.27	-0.07	0.68
Leverage Ratio	0.00	2.42	2.70	3.69	4.45	5.37
Compound Leverage Factor	0.00	2.42	2.67	3.45	4.14	1.40
Debt to Total Capital	0.00%	42.65%	48.61%	59.87%	55.42%	74.40%
Short-Term Debt to Total Capital	0.00%	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%	74.40%
Preferred Equity to Total Capital	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%
Common Equity to Total Capital	0.00%	57.35%	51.39%	40.13%	44.58%	25.60%
Debt to EBITDA	0.00	-0.89	-0.97	-1.94	-3.43	6.07
Net Debt to EBITDA	0.00	0.65	0.42	0.06	0.24	2.25
Long-Term Debt to EBITDA	0.00	-0.89	-0.97	-1.94	-3.43	6.07
Debt to NOPAT	0.00	-1.14	-1.18	-2.27	-2.95	-297.15
Net Debt to NOPAT	0.00	0.84	0.51	0.07	0.20	-110.33
Long-Term Debt to NOPAT	0.00	-1.14	-1.18	-2.27	-2.95	-297.15
Altman Z-Score	0.00	0.00	-0.05	4.13	4.49	4.11
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	2.96	1.67	1.34	0.93	1.03
Quick Ratio	0.00	2.37	1.47	0.85	0.83	0.70
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,857	-1,079	-569	-548	130
Operating Cash Flow to CapEx	-494.78%	-671.57%	-648.66%	-1.73%	394.59%	452.44%
Free Cash Flow to Firm to Interest Expense	0.00	-880.70	-406.96	-212.45	-185.33	0.00
Operating Cash Flow to Interest Expense	-181.46	-198.91	-235.96	-0.65	141.19	0.00
Operating Cash Flow Less CapEx to Interest Expense	-218.13	-228.53	-272.33	-38.46	105.40	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.32	0.55	0.92	1.16	1.37
Accounts Receivable Turnover	0.00	28.26	46.21	74.32	90.49	74.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	28.16	42.22	60.69	85.72	119.15
Accounts Payable Turnover	0.00	2.05	3.28	3.96	4.54	4.92
Days Sales Outstanding (DSO)	0.00	12.92	7.90	4.91	4.03	4.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	178.21	111.31	92.13	80.46	74.23
Cash Conversion Cycle (CCC)	0.00	-165.29	-103.42	-87.22	-76.43	-69.30
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	764	785	802	924	1,313
Invested Capital Turnover	0.00	3.39	2.89	4.62	5.53	4.38
Increase / (Decrease) in Invested Capital	0.00	764	21	17	122	-136
Enterprise Value (EV)	0.00	0.00	9,051	30,250	32,673	31,378
Market Capitalization	0.00	0.00	9,589	30,289	32,760	30,697
Book Value per Share	$0.00	$0.00	$1.57	$0.98	$1.15	$0.71
Tangible Book Value per Share	$0.00	$0.00	($0.40)	($0.86)	($1.68)	($2.08)
Total Capital	0.00	2,927	2,574	2,094	2,267	2,467
Total Debt	0.00	1,248	1,251	1,254	1,256	1,836
Total Long-Term Debt	0.00	1,248	1,251	1,254	1,256	1,836
Net Debt	0.00	-914	-538	-39	-87	682
Capital Expenditures (CapEx)	39	62	96	101	106	147
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-329	-940	-760	-1,451	-1,076
Debt-free Net Working Capital (DFNWC)	0.00	1,824	838	522	-121	60
Net Working Capital (NWC)	0.00	1,824	838	522	-121	60
Net Nonoperating Expense (NNE)	642	430	320	250	81	-9.89
Net Nonoperating Obligations (NNO)	0.00	-914	-538	-39	-87	682
Total Depreciation and Amortization (D&A)	77	121	169	202	271	275
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-25.38%	-41.98%	-20.75%	-30.44%	-17.77%
Debt-free Net Working Capital to Revenue	0.00%	140.73%	37.42%	14.23%	-2.54%	0.98%
Net Working Capital to Revenue	0.00%	140.73%	37.42%	14.23%	-2.54%	0.98%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($3.16)	($1.73)	($1.05)	$0.01
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	844.64M	1.73B	882.97M	886.01M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($3.16)	($1.73)	($1.05)	($0.01)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	844.64M	1.73B	882.97M	886.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$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	886.01M
Normalized Net Operating Profit after Tax (NOPAT)	-590	-1,093	-1,058	-552	-426	-11
Normalized NOPAT Margin	-96.05%	-84.35%	-47.23%	-15.07%	-8.94%	-0.18%
Pre Tax Income Margin	-200.46%	-117.10%	-64.40%	-21.59%	-12.44%	0.12%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-1,150.30	-720.53	-551.36	-316.16	-215.43	0.00
NOPAT to Interest Expense	-551.66	-518.32	-399.18	-206.22	-144.07	0.00
EBIT Less CapEx to Interest Expense	-1,186.97	-750.15	-587.74	-353.96	-251.21	0.00
NOPAT Less CapEx to Interest Expense	-588.34	-547.94	-435.56	-244.02	-179.85	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-24.38%	-1.17%	0.00%	0.00%	-9.48%	15,405.07%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	886,005,336.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	886,005,336.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	57.38%	43.94%	52.67%	26.23%	38.68%	13.15%	19.90%	36.95%	4.43%	42.82%	16.84%
EBITDA Growth	39.79%	99.80%	70.86%	194.61%	13.07%	-21,873.87%	125.17%	507.96%	13.31%	358.94%	281.42%
EBIT Growth	34.84%	77.11%	61.24%	74.12%	-2.58%	-176.20%	72.21%	834.51%	17.24%	199.28%	165.42%
NOPAT Growth	37.02%	81.13%	64.38%	53.09%	-4.19%	-217.70%	66.63%	718.36%	8.94%	245.02%	113.02%
Net Income Growth	37.16%	81.61%	64.10%	182.60%	-3.74%	-202.21%	76.25%	147.46%	12.56%	201.17%	162.22%
EPS Growth	39.00%	84.62%	65.52%	158.82%	1.64%	-212.50%	76.67%	200.00%	13.33%	212.00%	142.86%
Operating Cash Flow Growth	178.31%	148.54%	65.06%	265.84%	-8.12%	351.23%	-69.07%	491.79%	115.20%	-1.45%	59.30%
Free Cash Flow Firm Growth	59.17%	0.00%	104.67%	11.01%	-67.03%	-363.50%	-2,241.95%	147.03%	156.39%	137.23%	116.28%
Invested Capital Growth	30.93%	2.13%	-19.62%	91.65%	52.97%	15.23%	165.06%	-13.67%	-41.12%	-9.39%	-10.20%
Revenue Q/Q Growth	-9.71%	55.81%	-4.54%	-6.00%	-0.81%	27.14%	1.15%	7.36%	-24.36%	73.88%	-17.25%
EBITDA Q/Q Growth	-501.59%	99.84%	-26,153.02%	136.92%	-652.72%	58.99%	130.07%	791.76%	-178.82%	222.50%	-55.70%
EBIT Q/Q Growth	-231.93%	81.19%	-183.59%	85.39%	-1,215.77%	49.35%	71.47%	486.30%	-248.26%	160.75%	-81.20%
NOPAT Q/Q Growth	-315.07%	84.71%	-216.92%	76.67%	-821.93%	53.39%	66.71%	532.27%	-235.76%	174.23%	-97.01%
Net Income Q/Q Growth	-266.38%	84.24%	-219.51%	144.77%	-560.17%	54.08%	74.89%	566.38%	-262.59%	153.13%	-84.56%
EPS Q/Q Growth	-258.82%	86.89%	-275.00%	133.33%	-700.00%	58.33%	72.00%	528.57%	-273.33%	153.85%	-89.29%
Operating Cash Flow Q/Q Growth	920.47%	-50.43%	-197.68%	141.75%	354.54%	143.43%	-136.60%	246.13%	65.29%	11.48%	-115.11%
Free Cash Flow Firm Q/Q Growth	48.32%	88.75%	199.32%	-1,641.54%	3.00%	68.79%	-359.00%	133.85%	16.31%	-30.08%	-40.87%
Invested Capital Q/Q Growth	21.77%	-14.11%	-26.30%	148.65%	-2.81%	-35.30%	69.52%	-19.02%	-33.70%	56.19%	7.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.20%	41.78%	39.57%	39.93%	32.23%	40.07%	40.11%	43.50%	31.46%	45.98%	42.32%
EBITDA Margin	-31.05%	-0.03%	-8.89%	3.49%	-19.47%	-6.28%	1.87%	15.51%	-16.16%	11.38%	6.09%
Operating Margin	-36.28%	-3.56%	-11.82%	-2.93%	-27.26%	-9.99%	-3.29%	9.96%	-23.77%	7.63%	0.36%
EBIT Margin	-37.41%	-4.52%	-13.42%	-2.09%	-27.68%	-11.03%	-3.11%	11.19%	-21.93%	7.66%	1.74%
Profit (Net Income) Margin	-35.84%	-3.63%	-12.13%	5.78%	-26.81%	-9.68%	-2.40%	10.44%	-22.45%	6.86%	1.28%
Tax Burden Percent	100.46%	119.01%	99.52%	-671.17%	99.60%	92.66%	85.91%	92.95%	94.93%	92.79%	91.92%
Interest Burden Percent	95.35%	67.44%	90.86%	41.27%	97.25%	94.78%	89.97%	100.39%	107.80%	96.44%	79.98%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.94%	0.00%	6.90%	27.79%
Return on Invested Capital (ROIC)	-101.50%	-11.51%	-50.79%	-7.90%	-74.44%	-38.66%	-10.68%	36.64%	-80.06%	31.14%	1.09%
ROIC Less NNEP Spread (ROIC-NNEP)	-73.56%	-6.67%	-33.44%	-219.97%	-109.48%	20.89%	-11.31%	44.91%	-108.97%	30.27%	3.34%
Return on Net Nonoperating Assets (RNNOA)	19.42%	1.78%	9.46%	7.74%	-28.19%	-1.42%	-3.01%	8.35%	-27.71%	20.65%	3.38%
Return on Equity (ROE)	-82.08%	-9.73%	-41.33%	-0.15%	-102.63%	-40.08%	-13.68%	44.99%	-107.77%	51.78%	4.46%
Cash Return on Invested Capital (CROIC)	0.00%	-71.75%	-35.09%	-94.26%	-72.34%	-63.57%	-123.96%	-2.38%	32.82%	9.40%	12.63%
Operating Return on Assets (OROA)	-30.57%	-4.15%	-14.49%	-2.29%	-31.34%	-12.78%	-3.74%	13.93%	-26.91%	10.53%	2.48%
Return on Assets (ROA)	-29.28%	-3.33%	-13.10%	6.35%	-30.36%	-11.22%	-2.89%	13.00%	-27.54%	9.42%	1.83%
Return on Common Equity (ROCE)	-82.08%	-9.73%	-41.33%	-0.15%	-102.63%	-40.08%	-13.68%	44.99%	-107.77%	51.78%	4.46%
Return on Equity Simple (ROE_SIMPLE)	-124.81%	0.00%	-65.89%	-31.30%	-38.76%	0.00%	-45.66%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-201	-31	-97	-23	-209	-97	-32	140	-190	141	4.22
NOPAT Margin	-25.40%	-2.49%	-8.27%	-2.05%	-19.08%	-7.00%	-2.30%	9.27%	-16.64%	7.10%	0.26%
Net Nonoperating Expense Percent (NNEP)	-27.94%	-4.84%	-17.35%	212.07%	35.03%	-59.55%	0.63%	-8.28%	28.90%	0.87%	-2.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.46%	-	-	-	-4.30%	-1.19%	4.93%	-7.41%	5.73%	0.17%
Cost of Revenue to Revenue	68.80%	58.22%	60.43%	60.07%	67.77%	59.93%	59.89%	56.50%	68.54%	54.02%	57.68%
SG&A Expenses to Revenue	16.55%	14.55%	14.83%	14.95%	19.00%	15.55%	11.67%	10.96%	13.70%	9.39%	10.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	67.48%	45.33%	51.38%	42.86%	59.48%	50.07%	43.39%	33.54%	55.23%	38.35%	41.97%
Earnings before Interest and Taxes (EBIT)	-296	-56	-158	-23	-303	-154	-44	169	-251	152	29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-245	-0.40	-104	39	-213	-87	26	235	-185	226	100
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	31.48	36.04	46.96	25.55	32.00	32.42	33.59	37.78	45.43	48.61	31.66
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	0.00
Price to Revenue (P/Rev)	7.67	8.26	9.59	7.72	7.48	6.87	5.86	7.05	6.09	5.07	3.04
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8,273.99	326.64
Dividend Yield	0.00%	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%	0.01%	0.31%
Enterprise Value to Invested Capital (EV/IC)	27.17	37.74	65.64	22.70	24.37	35.37	19.17	30.28	39.70	23.90	14.19
Enterprise Value to Revenue (EV/Rev)	7.71	8.25	9.53	7.76	7.55	6.85	6.00	7.10	6.11	5.18	3.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	103.75	53.01
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,164.13	200.71
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	716.70
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	299.81	188.99	211.31	78.21	81.31	74.76	49.99	47.34	27.21
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	89.66	241.60	106.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.56	1.49	1.51	0.97	1.17	1.24	2.11	1.82	2.51	2.91	3.03
Long-Term Debt to Equity	1.56	1.49	1.51	0.97	1.17	1.24	2.11	1.82	2.51	2.91	3.03
Financial Leverage	-0.26	-0.27	-0.28	-0.04	0.26	-0.07	0.27	0.19	0.25	0.68	1.01
Leverage Ratio	3.60	3.69	4.08	3.38	4.33	4.45	4.88	3.77	4.92	5.37	5.97
Compound Leverage Factor	3.43	2.49	3.71	1.39	4.21	4.21	4.39	3.78	5.30	5.18	4.77
Debt to Total Capital	60.99%	59.87%	60.15%	49.15%	53.85%	55.42%	67.85%	64.52%	71.49%	74.40%	75.21%
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%	0.00%
Long-Term Debt to Total Capital	60.99%	59.87%	60.15%	49.15%	53.85%	55.42%	67.85%	64.52%	71.49%	74.40%	75.21%
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%	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%	0.00%
Common Equity to Total Capital	39.01%	40.13%	39.85%	50.85%	46.15%	44.58%	32.15%	35.48%	28.51%	25.60%	24.79%
Debt to EBITDA	-1.49	-1.94	-3.21	-4.03	-4.49	-3.43	-7.81	-46.09	-160.08	6.07	4.88
Net Debt to EBITDA	-0.16	0.06	0.61	-0.55	-1.26	0.24	-2.94	-6.49	-9.45	2.25	2.13
Long-Term Debt to EBITDA	-1.49	-1.94	-3.21	-4.03	-4.49	-3.43	-7.81	-46.09	-160.08	6.07	4.88
Debt to NOPAT	-1.83	-2.27	-3.33	-3.57	-3.49	-2.95	-5.10	-7.87	-8.55	-297.15	65.91
Net Debt to NOPAT	-0.19	0.07	0.64	-0.49	-0.98	0.20	-1.92	-1.11	-0.50	-110.33	28.77
Long-Term Debt to NOPAT	-1.83	-2.27	-3.33	-3.57	-3.49	-2.95	-5.10	-7.87	-8.55	-297.15	65.91
Altman Z-Score	3.55	4.79	6.74	5.87	5.24	4.86	3.98	6.08	4.18	4.20	2.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.29	1.34	1.34	1.11	1.00	0.93	1.20	1.34	1.10	1.03	1.02
Quick Ratio	0.75	0.85	1.06	0.82	0.57	0.83	0.79	1.22	1.00	0.70	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-421	-47	47	-725	-703	-220	-1,008	341	397	277	164
Operating Cash Flow to CapEx	469.70%	336.93%	-274.02%	123.34%	449.94%	1,219.44%	-351.13%	519.45%	767.61%	768.93%	-109.70%
Free Cash Flow to Firm to Interest Expense	-628.50	-68.83	72.48	-1,069.47	-806.62	-288.82	-197.79	29.30	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	217.01	104.75	-108.47	43.35	153.19	427.88	-23.36	14.94	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	170.81	73.66	-148.05	8.20	119.15	392.79	-30.02	12.07	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.92	1.08	1.10	1.13	1.16	1.20	1.24	1.23	1.37	1.43
Accounts Receivable Turnover	95.67	74.32	85.93	88.29	99.98	90.49	83.43	80.76	84.03	74.10	82.41
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	53.42	60.69	66.70	73.28	78.16	85.72	88.36	97.79	103.95	119.15	118.07
Accounts Payable Turnover	3.57	3.96	4.45	5.22	4.38	4.54	5.21	5.81	4.70	4.92	5.72
Days Sales Outstanding (DSO)	3.82	4.91	4.25	4.13	3.65	4.03	4.38	4.52	4.34	4.93	4.43
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	102.26	92.13	82.01	69.97	83.42	80.46	70.00	62.78	77.69	74.23	63.83
Cash Conversion Cycle (CCC)	-98.45	-87.22	-77.76	-65.84	-79.77	-76.43	-65.62	-58.26	-73.35	-69.30	-59.41
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	933	802	591	1,469	1,428	924	1,566	1,268	841	1,313	1,406
Invested Capital Turnover	4.00	4.62	6.14	3.85	3.90	5.53	4.64	3.95	4.81	4.38	4.23
Increase / (Decrease) in Invested Capital	220	17	-144	702	494	122	975	-201	-587	-136	-160
Enterprise Value (EV)	25,362	30,250	38,779	33,349	34,790	32,673	30,016	38,400	33,375	31,378	19,956
Market Capitalization	25,230	30,289	39,019	33,179	34,439	32,760	29,323	38,142	33,267	30,697	19,155
Book Value per Share	$0.94	$0.98	$0.96	$1.49	$1.22	$1.15	$0.99	$1.14	$0.82	$0.71	$0.68
Tangible Book Value per Share	($0.94)	($0.86)	($0.85)	($1.27)	($1.45)	($1.68)	($1.80)	($1.60)	($1.89)	($2.08)	($2.10)
Total Capital	2,055	2,094	2,085	2,554	2,332	2,267	2,715	2,846	2,568	2,467	2,440
Total Debt	1,253	1,254	1,254	1,255	1,256	1,256	1,843	1,836	1,836	1,836	1,835
Total Long-Term Debt	1,253	1,254	1,254	1,255	1,256	1,256	1,843	1,836	1,836	1,836	1,835
Net Debt	132	-39	-240	170	352	-87	693	258	108	682	801
Capital Expenditures (CapEx)	31	21	26	24	30	27	34	33	37	42	44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-672	-760	-987	-924	-894	-1,451	-835	-1,112	-1,539	-1,076	-979
Debt-free Net Working Capital (DFNWC)	439	522	496	149	-2.84	-121	302	452	169	60	29
Net Working Capital (NWC)	439	522	496	149	-2.84	-121	302	452	169	60	29
Net Nonoperating Expense (NNE)	82	14	45	-86	85	37	1.43	-18	66	4.86	-17
Net Nonoperating Obligations (NNO)	132	-39	-240	170	352	-87	693	258	108	682	801
Total Depreciation and Amortization (D&A)	50	55	53	62	90	66	70	65	66	74	72
Debt-free, Cash-free Net Working Capital to Revenue	-20.43%	-20.75%	-24.24%	-21.50%	-19.42%	-30.44%	-16.69%	-20.55%	-28.21%	-17.77%	-15.56%
Debt-free Net Working Capital to Revenue	13.36%	14.23%	12.19%	3.47%	-0.06%	-2.54%	6.04%	8.36%	3.09%	0.98%	0.47%
Net Working Capital to Revenue	13.36%	14.23%	12.19%	3.47%	-0.06%	-2.54%	6.04%	8.36%	3.09%	0.98%	0.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.61)	($0.08)	($0.30)	$0.13	($0.60)	($0.28)	($0.07)	$0.32	($0.52)	$0.28	$0.04
Adjusted Weighted Average Basic Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M
Adjusted Diluted Earnings per Share	($0.61)	($0.08)	($0.30)	$0.10	($0.60)	($0.25)	($0.07)	$0.30	($0.52)	$0.28	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	859.26M	1.73B	869.24M	878.54M	880.64M	882.97M	889.30M	889.48M	890.79M	886.01M	889.14M
Normalized Net Operating Profit after Tax (NOPAT)	-201	-31	-97	-23	-209	-97	-32	140	-190	141	4.22
Normalized NOPAT Margin	-25.40%	-2.49%	-8.27%	-2.05%	-19.08%	-7.00%	-2.30%	9.27%	-16.64%	7.10%	0.26%
Pre Tax Income Margin	-35.67%	-3.05%	-12.19%	-0.86%	-26.92%	-10.45%	-2.80%	11.23%	-23.65%	7.39%	1.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-441.13	-80.81	-242.94	-33.99	-347.70	-202.05	-8.60	14.54	0.00	0.00	0.00
NOPAT to Interest Expense	-299.42	-44.57	-149.75	-33.44	-239.70	-128.19	-6.37	12.04	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-487.33	-111.90	-282.52	-69.13	-381.75	-237.13	-15.26	11.66	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-345.62	-75.66	-189.33	-68.58	-273.74	-163.28	-13.02	9.17	0.00	0.00	0.00
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%	0.00%
Augmented Payout Ratio	-6.28%	0.00%	-15.74%	-23.81%	-23.71%	-9.48%	-47.76%	-95.51%	-135.30%	15,405.07%	900.16%

Financials Breakdown Chart

DraftKings Financials - Frequently Asked Questions

According to the most recent income statement we have on file, DraftKings' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

DraftKings' net income appears to be on a downward trend, with a most recent value of $3.71 million in 2025, falling from -$1.23 billion in 2020. The previous period was -$507.29 million in 2024. See DraftKings' forecast for analyst expectations on what's next for the company.

DraftKings' total operating income in 2025 was -$15.82 million, based on the following breakdown:

Total Gross Profit: $2.50 billion
Total Operating Expenses: $2.51 billion

Over the last 5 years, DraftKings' total revenue changed from $614.53 million in 2020 to $6.05 billion in 2025, a change of 885.2%.

DraftKings' total liabilities were at $3.90 billion at the end of 2025, a 19.1% increase from 2024, and a 63.1% increase since 2021.

In the past 4 years, DraftKings' cash and equivalents has ranged from $788.29 million in 2024 to $2.15 billion in 2021, and is currently $1.13 billion as of their latest financial filing in 2025.

Over the last 5 years, DraftKings' book value per share changed from 0.00 in 2020 to 0.71 in 2025, a change of 70.9%.

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Financial statements for NASDAQ:DKNG last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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DraftKings (DKNG) Financials

Financials Breakdown Chart

DraftKings Financials - Frequently Asked Questions

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DraftKings (DKNG) Financials

Annual Income Statements for DraftKings

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DraftKings Financials - Frequently Asked Questions

When does DraftKings' fiscal year end?

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How has DraftKings' revenue changed over the last 5 years?

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How has DraftKings' book value per share changed over the last 5 years?

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