DraftKings Inc. (DKNG) Balance Sheet
DKNG balance sheet, 2025
December 31, 2025 · U.S. dollars$4.53B assets = $3.90B liabilities + $631.5M equity
Both columns are drawn to the same scale: what DKNG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DKNG financial health
Descriptive bands, not a rating. Fiscal 2025.
DKNG balance sheet trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $183.0M2017 | $4.53B2025 | +49.4%/yr | |
| Total liabilities | $182.4M2017 | $3.90B2025 | +46.6%/yr | |
| Shareholders’ equity | $644,0002017 | $631.5M2025 | +136.6%/yr | |
| Cash & short-term investments | $49.3M2017 | $1.60B2025 | +54.6%/yr | |
| Total debt | $5.0M2017 | $1.93B2025 | +110.6%/yr | |
| Net cash (debt) | $44.3M2017 | −$329.6M2025 | −$373.9M | |
| Working capital | $3.1M2017 | $59.5M2025 | +$56.4M | |
| Book value per share | $0.002017 | $1.272025 | +109.1%/yr | |
| Current ratio | 1.022017 | 1.032025 | +0.01 | |
| Debt / equity | 7.762017 | 3.062025 | −4.70 | |
| Shares outstanding | 184.6M2017 | 495.9M2025 | +13.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DKNG assets
DKNG liabilities and equity
DKNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DKNG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $1.60B | $788.3M | $1.27B | $1.31B | $2.15B | $1.82B | $76.5M | $117.9M | $49.3M |
| Cash & equivalents | $1.60B | $788.3M | $1.27B | $1.31B | $2.15B | $1.82B | $76.5M | $117.9M | $49.3M |
| Short-term investments | — | — | — | — | — | $3.0M | $404.0M | — | — |
| Receivables | $105.6M | $120.4M | $349.3M | $211.2M | $97.8M | $74.8M | $29.8M | $21.3M | $0 |
| Inventory | $0 | $0 | $0 | $469.7M | $476.9M | $287.7M | $144.0M | $111.7M | $0 |
| Other current assets | $104.8M | $625.1M | $451.6M | $94.8M | $25.7M | $14.6M | $10.8M | $11.2M | $115.3M |
| Total current assets | $1.82B | $1.53B | $2.07B | $2.08B | $2.75B | $2.19B | $261.1M | $262.2M | $164.6M |
| Property, plant & equipment (net) | $100.9M | $125.5M | $154.7M | $126.1M | $109.8M | $108.9M | $25.9M | $14.1M | $1.6M |
| Goodwill & intangible assets | $2.49B | $2.49B | $1.58B | $1.66B | $1.15B | $1.13B | $38.7M | $21.6M | $14.6M |
| Long-term investments | $18.9M | $13.2M | $10.3M | $10.1M | $9.8M | $3.0M | $2.5M | $0 | $0 |
| Other non-current assets | $109.1M | $123.1M | $131.5M | $155.9M | $45.4M | $7.6M | $2.4M | $1.5M | $2.2M |
| Total assets | $4.53B | $4.28B | $3.94B | $4.04B | $4.07B | $3.44B | $330.7M | $299.4M | $183.0M |
| Liabilities | |||||||||
| Accounts payable | $785.4M | $53.7M | $34.1M | $10.1M | $52.5M | $28.1M | $16.6M | $11.6M | $13.1M |
| Short-term debt | $9.8M | $11.0M | $11.5M | $4.3M | $12.8M | $12.8M | $6.8M | $3.8M | $2.5M |
| Deferred revenue | — | $46.4M | $43.6M | $40.5M | $1.6M | $195.6M | $68.7M | $2.7M | — |
| Total current liabilities | $1.76B | $1.65B | $1.55B | $1.25B | $929.4M | $554.4M | $255.1M | $195.9M | $161.5M |
| Long-term debt | $1.84B | $1.26B | $1.25B | $1.25B | $1.25B | $0 | $68.4M | $0 | $0 |
| Lease obligations | $54.2M | $78.7M | $92.3M | $73.6M | $70.2M | $81.6M | — | — | — |
| Other long-term liabilities | $308.2M | $361.7M | $301.2M | $219.9M | $212.6M | $253.6M | $56.9M | $288.7M | $20.9M |
| Total liabilities | $3.90B | $3.27B | $3.10B | $2.72B | $2.39B | $808.0M | $380.3M | $484.6M | $182.4M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $91,000 | $87,000 | $85,000 | $84,000 | $80,000 | $79,000 | $18,000 | $384,000 | $380,000 |
| Retained earnings (deficit) | −$6.44B | −$6.44B | −$5.93B | −$5.13B | −$3.75B | −$2.23B | −$998.8M | −$856.0M | −$779.8M |
| Treasury stock | — | — | — | — | −$306.6M | −$288.8M | — | — | — |
| Accumulated other comprehensive income | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $83.5M | −$7.0M | −$3.4M | — |
| Total shareholders' equity | $631.5M | $1.01B | $840.3M | $1.32B | $1.68B | $2.63B | −$49.6M | −$185.2M | $644,000 |
| Key figures | |||||||||
| Total debt | $1.93B | $1.34B | $1.35B | $1.32B | $1.32B | $81.6M | $75.1M | $3.8M | $5.0M |
| Net cash (debt) | −$329.6M | −$546.8M | −$75.6M | −$15.5M | $834.3M | $1.74B | $1.4M | $114.2M | $44.3M |
| Working capital | $59.5M | −$121.2M | $521.7M | $838.4M | $1.82B | $1.64B | $6.1M | $66.2M | $3.1M |
| Tangible book value | −$1.86B | −$1.48B | −$736.7M | −$340.6M | $527.9M | $1.51B | −$88.3M | −$206.8M | −$14.0M |
| Book value per share | $1.27 | $2.10 | $1.82 | $3.03 | $4.17 | $8.61 | −$0.27 | −$1.00 | $0.00 |
| Shares outstanding | 495.9M | 482.0M | 462.6M | 436.5M | 402.5M | 305.6M | 184.6M | 184.6M | 184.6M |
| Current ratio | 1.03 | 0.93 | 1.34 | 1.67 | 2.96 | 3.96 | 1.02 | 1.34 | 1.02 |
| Quick ratio | 0.97 | 0.55 | 1.05 | 1.22 | 2.42 | 3.41 | 0.42 | 0.71 | 0.31 |
| Debt / equity | 3.06 | 1.32 | 1.60 | 1.00 | 0.79 | 0.03 | — | — | 7.76 |
| Equity / assets | 13.9% | 23.6% | 21.3% | 32.7% | 41.3% | 76.5% | −15.0% | −61.9% | 0.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $983.9M | $999.4M | $1.60B | $1.23B | $1.26B | $1.12B | $788.3M | $877.8M | $815.9M | $1.19B | $1.27B | $1.11B |
| Cash & equivalents | $983.9M | $999.4M | $1.60B | $1.23B | $1.26B | $1.12B | $788.3M | $877.8M | $815.9M | $1.19B | $1.27B | $1.11B |
| Receivables | $82.1M | $86.1M | $105.6M | $65.6M | $136.6M | $147.5M | $120.4M | $406.2M | $302.3M | $319.3M | $349.3M | $237.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $0 | $476.0M |
| Other current assets | $511.1M | $492.2M | $104.8M | $651.2M | $388.2M | $533.5M | $625.1M | $359.9M | $404.6M | $426.0M | $451.6M | $143.1M |
| Total current assets | $1.58B | $1.58B | $1.82B | $1.95B | $1.79B | $1.80B | $1.53B | $1.64B | $1.52B | $1.94B | $2.07B | $1.97B |
| Property, plant & equipment (net) | $129.5M | $131.6M | $100.9M | $118.2M | $122.3M | $125.3M | $125.5M | $136.2M | $146.9M | $150.4M | $154.7M | $142.1M |
| Goodwill & intangible assets | $2.44B | $2.47B | $2.49B | $2.42B | $2.44B | $2.46B | $2.49B | $2.35B | $2.41B | $1.57B | $1.58B | $1.61B |
| Long-term investments | $30.3M | $26.1M | $18.9M | $19.4M | $13.9M | $13.2M | $13.2M | $12.6M | $11.1M | $11.4M | $10.3M | $9.6M |
| Other non-current assets | $105.5M | $106.4M | $109.1M | $125.5M | $116.3M | $116.9M | $123.1M | $132.3M | $131.9M | $132.2M | $131.5M | $136.5M |
| Total assets | $4.28B | $4.31B | $4.53B | $4.62B | $4.47B | $4.52B | $4.28B | $4.27B | $4.22B | $3.80B | $3.94B | $3.86B |
| Liabilities | ||||||||||||
| Accounts payable | $689.2M | $704.0M | $785.4M | $711.4M | $553.2M | $577.1M | $53.7M | $700.7M | $573.5M | $605.9M | $34.1M | $354.8M |
| Short-term debt | $9.7M | $10.9M | $9.8M | $11.5M | $11.4M | $11.1M | $11.0M | $11.3M | $11.5M | $11.3M | $11.5M | $12.1M |
| Deferred revenue | — | — | — | — | — | — | $46.4M | — | — | −$11.3M | $43.6M | $239.2M |
| Total current liabilities | $1.55B | $1.55B | $1.76B | $1.78B | $1.33B | $1.50B | $1.65B | $1.65B | $1.37B | $1.44B | $1.55B | $1.53B |
| Long-term debt | $1.83B | $1.84B | $1.84B | $1.84B | $1.84B | $1.84B | $1.26B | $1.26B | $1.26B | $1.25B | $1.25B | $1.25B |
| Lease obligations | $81.0M | $82.5M | $54.2M | $70.6M | $73.7M | $76.4M | $78.7M | $87.0M | $89.6M | $90.2M | $92.3M | $89.1M |
| Other long-term liabilities | $322.3M | $318.7M | $308.2M | $279.7M | $293.9M | $301.5M | $361.7M | $294.4M | $290.9M | $273.7M | $301.2M | $278.5M |
| Total liabilities | $3.71B | $3.70B | $3.90B | $3.89B | $3.46B | $3.64B | $3.27B | $3.20B | $2.92B | $2.97B | $3.10B | $3.06B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $92,000 | $92,000 | $91,000 | $87,000 | $87,000 | $87,000 | $87,000 | $86,000 | $86,000 | $85,000 | $85,000 | $85,000 |
| Retained earnings (deficit) | −$6.48B | −$6.42B | −$6.44B | −$6.57B | −$6.32B | −$6.48B | −$6.44B | −$6.31B | −$6.01B | −$6.08B | −$5.93B | −$5.89B |
| Accumulated other comprehensive income | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M | $36.5M |
| Total shareholders' equity | $569.4M | $605.0M | $631.5M | $732.3M | $1.01B | $872.9M | $1.01B | $1.08B | $1.30B | $831.0M | $840.3M | $801.4M |
| Key figures | ||||||||||||
| Total debt | $1.92B | $1.92B | $1.93B | $1.91B | $1.91B | $1.92B | $1.34B | $1.34B | $1.34B | $1.34B | $1.35B | $1.34B |
| Net cash (debt) | −$932.1M | −$918.4M | −$329.6M | −$678.3M | −$648.0M | −$799.2M | −$546.8M | −$465.0M | −$528.9M | −$151.9M | −$75.6M | −$230.6M |
| Working capital | $26.3M | $29.3M | $59.5M | $168.7M | $452.1M | $301.9M | −$121.2M | −$2.8M | $149.1M | $496.4M | $521.7M | $439.5M |
| Tangible book value | −$1.87B | −$1.86B | −$1.86B | −$1.68B | −$1.43B | −$1.59B | −$1.48B | −$1.27B | −$1.11B | −$737.7M | −$736.7M | −$803.9M |
| Book value per share | $1.15 | $1.14 | $1.19 | $1.38 | $1.91 | $1.77 | $2.07 | $2.21 | $2.71 | $1.75 | $1.80 | $1.72 |
| Shares outstanding | 496.1M | 532.0M | 532.0M | 529.5M | 529.5M | 493.3M | 488.0M | 486.2M | 479.3M | 474.2M | 468.1M | 464.8M |
| Current ratio | 1.02 | 1.02 | 1.03 | 1.09 | 1.34 | 1.20 | 0.93 | 1.00 | 1.11 | 1.34 | 1.34 | 1.29 |
| Quick ratio | 0.69 | 0.70 | 0.97 | 0.73 | 1.05 | 0.85 | 0.55 | 0.78 | 0.81 | 1.05 | 1.05 | 0.88 |
| Debt / equity | 3.36 | 3.17 | 3.06 | 2.60 | 1.89 | 2.20 | 1.32 | 1.25 | 1.04 | 1.62 | 1.60 | 1.67 |
| Equity / assets | 13.3% | 14.0% | 13.9% | 15.8% | 22.6% | 19.3% | 23.6% | 25.2% | 30.8% | 21.9% | 21.3% | 20.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
DKNG financial position
At the end of fiscal 2025 (December 31, 2025), DraftKings had total assets of $4.5 billion (up 5.8% from a year earlier), total liabilities of $3.9 billion and shareholders' equity of $631.5 million. It held $1.6 billion in cash and short-term investments against $1.9 billion of debt, net debt of $329.6 million. Its current ratio was 1.03. In the latest quarter (ended June 30, 2026) total assets were $4.3 billion and equity $569.4 million.
Related: DKNG income statement, DKNG cash flow statement, DKNG key metrics. See the DKNG stock overview for the latest quote and news.
DKNG balance sheet FAQ
What are DraftKings's total assets?
DraftKings reported total assets of $4.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.3 billion a year earlier.
How much debt does DraftKings have?
DraftKings had $1.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.06.
How much cash does DraftKings have?
DraftKings held $1.6 billion in cash and short-term investments at the end of fiscal 2025; with $1.9 billion of debt that is net debt of $329.6 million.
What is DraftKings's book value?
DraftKings's shareholders' equity (book value) was $631.5 million at the end of fiscal 2025, or $1.27 per share.
What is DraftKings's current ratio?
DraftKings had current assets of $1.8 billion and current liabilities of $1.8 billion, a current ratio of 1.03 (it can cover its short-term obligations).
How much goodwill does DraftKings have?
DraftKings carried $2.5 billion of goodwill and intangible assets, 54.9% of total assets, at the end of fiscal 2025.