DraftKings Inc. (DKNG) Key Metrics
DKNG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $9.38B
- Enterprise value
- $11.48B
- P/E (TTM)
- —
- Forward P/E
- 12.6
- PEG ratio
- 0.05
- Price / sales
- 1.5 10-yr median 4.4
- Price / book
- 18.5 10-yr median 12.2
- EV / EBITDA
- 104.7
- Dividend yield
- —
- Beta
- 1.61
DKNG key metrics, 2017–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDKNG valuation Price multiples at each fiscal year-end price.
DKNG returns How much profit the business earns on the capital it uses.
DKNG per-share figures Results divided by the shares outstanding at year-end.
DKNG financial health Debt, liquidity and how easily interest is covered.
DKNG efficiency & capital use Working capital cycle and where the cash goes.
DKNG valuation history
DKNG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DKNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DKNG cash returned to shareholders
DKNG price vs earnings per share
DKNG key metrics
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||
| Market capitalization | $17.09B | $17.93B | $16.31B | $4.97B | $11.06B | $14.23B | $1.98B | — | — |
| Enterprise value | $17.42B | $18.48B | $16.38B | $4.99B | $10.22B | $12.49B | $1.97B | — | — |
| Price / sales | 2.8 | 3.8 | 4.4 | 2.2 | 8.5 | 23.2 | 6.1 | — | — |
| Price / book | 27.1 | 17.7 | 19.4 | 3.8 | 6.6 | 5.4 | — | — | — |
| Price / free cash flow | 26.4 | 44.0 | — | — | — | — | — | — | — |
| Price / operating cash flow | 25.8 | 42.9 | — | — | — | — | — | — | — |
| EV / sales | 2.9 | 3.9 | 4.5 | 2.2 | 7.9 | 20.3 | 6.1 | — | — |
| EV / EBITDA | 57.4 | — | — | — | — | — | — | — | — |
| EV / free cash flow | 26.9 | 45.3 | — | — | — | — | — | — | — |
| Earnings yield | 0.0% | −2.8% | −4.9% | −27.7% | −13.8% | −8.7% | −7.2% | — | — |
| Free cash flow yield | 3.8% | 2.3% | −0.7% | −14.7% | −4.7% | −2.7% | −4.5% | — | — |
| Dividend yield | — | — | 0.4% | — | 11.6% | 2.2% | 3.6% | — | — |
| Shareholder yield (dividends + buybacks) | 4.9% | 0.8% | 0.9% | 0.5% | 11.7% | 4.2% | 3.6% | — | — |
| Share price at fiscal year-end | $34.46 | $37.20 | $35.25 | $11.39 | $27.47 | $46.56 | $10.70 | — | — |
| Per share | |||||||||
| Revenue per share | $12.21 | $9.89 | $7.92 | $5.13 | $3.22 | $2.01 | $1.75 | $1.23 | $1.04 |
| Earnings per share | $0.01 | −$1.05 | −$1.73 | −$3.16 | −$3.78 | −$4.03 | −$0.77 | −$0.41 | −$0.41 |
| Operating cash flow per share | $1.34 | $0.87 | −$0.00 | −$1.43 | −$1.04 | −$1.11 | −$0.25 | −$0.25 | −$0.48 |
| Free cash flow per share | $1.31 | $0.85 | −$0.25 | −$1.67 | −$1.29 | −$1.26 | −$0.48 | −$0.39 | −$0.52 |
| Cash per share | $3.24 | $1.64 | $2.75 | $3.00 | $5.35 | $5.95 | $0.41 | $0.64 | $0.27 |
| Book value per share | $1.27 | $2.10 | $1.82 | $3.03 | $4.17 | $8.61 | −$0.27 | −$1.00 | $0.00 |
| Tangible book value per share | −$3.74 | −$3.07 | −$1.59 | −$0.78 | $1.31 | $4.93 | −$0.48 | −$1.12 | −$0.08 |
| Dividends per share | — | — | $0.14 | — | $3.18 | $1.01 | $0.39 | — | — |
| Capex per share | $0.03 | $0.02 | $0.25 | $0.24 | $0.24 | $0.16 | $0.23 | $0.14 | $0.04 |
| Debt per share | $3.90 | $2.77 | $2.91 | $3.03 | $3.28 | $0.27 | $0.41 | $0.02 | $0.03 |
| Shares outstanding | 495.9M | 482.0M | 462.6M | 436.5M | 402.5M | 305.6M | 184.6M | 184.6M | 184.6M |
| Change in shares outstanding | +2.9% | +4.2% | +6.0% | +8.5% | +31.7% | +65.5% | 0.0% | 0.0% | — |
| Returns & profitability | |||||||||
| Return on equity (ROE) | 0.5% | −54.8% | −74.2% | −91.8% | −70.7% | −95.4% | — | — | — |
| Return on invested capital (ROIC) | −0.6% | −38.9% | −55.3% | −109.4% | −141.8% | −157.7% | — | — | — |
| Return on assets (ROA) | 0.1% | −12.3% | −20.1% | −34.0% | −40.6% | −65.3% | −45.3% | −31.6% | −41.3% |
| Return on tangible assets | 0.2% | −28.3% | −33.9% | −58.0% | −52.2% | −53.2% | −48.9% | −27.4% | −44.9% |
| Free cash flow margin | 10.7% | 8.5% | −3.1% | −32.5% | −40.0% | −62.7% | −27.5% | −31.9% | −50.1% |
| Income quality (OCF / net income) | 178.67 | — | — | — | — | — | — | — | — |
| Financial health | |||||||||
| Total debt | $1.93B | $1.34B | $1.35B | $1.32B | $1.32B | $81.6M | $75.1M | $3.8M | $5.0M |
| Cash & short-term investments | $1.60B | $788.3M | $1.27B | $1.31B | $2.15B | $1.82B | $76.5M | $117.9M | $49.3M |
| Net debt | $329.6M | $546.8M | $75.6M | $15.5M | −$834.3M | −$1.74B | −$1.4M | −$114.2M | −$44.3M |
| Debt / equity | 3.06 | 1.32 | 1.60 | 1.00 | 0.79 | 0.03 | — | — | 7.76 |
| Debt / assets | 0.43 | 0.31 | 0.34 | 0.33 | 0.32 | 0.02 | 0.23 | 0.01 | 0.03 |
| Net debt / EBITDA | 1.09 | — | — | — | — | — | — | — | — |
| Current ratio | 1.03 | 0.93 | 1.34 | 1.67 | 2.96 | 3.96 | 1.02 | 1.34 | 1.02 |
| Quick ratio | 1.03 | 0.93 | 1.34 | 1.30 | 2.45 | 3.44 | 0.46 | 0.77 | 1.02 |
| Interest coverage | -0.8 | -205.8 | -294.6 | -570.3 | -740.5 | -788.1 | -37.9 | — | -47.5 |
| Working capital | $59.5M | −$121.2M | $521.7M | $838.4M | $1.82B | $1.64B | $6.1M | $66.2M | $3.1M |
| Invested capital | $961.1M | $1.56B | $915.9M | $1.34B | $844.2M | $895.7M | −$51.0M | −$299.4M | −$43.6M |
| Tangible asset value | −$1.86B | −$1.48B | −$736.7M | −$340.6M | $527.9M | $1.51B | −$88.3M | −$206.8M | −$14.0M |
| Net current asset value | −$2.08B | −$1.74B | −$1.03B | −$632.6M | $362.8M | $1.39B | −$119.2M | −$222.4M | −$17.8M |
| Graham number | $0.46 | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$4.47 | −$4.97 | −$3.40 | −$2.33 | $0.18 | $3.96 | −$1.13 | −$1.60 | −$0.72 |
| Capital allocation | |||||||||
| Dividends paid | — | — | $63.2M | — | $1.28B | $308.4M | $71.1M | — | — |
| Share buybacks (net) | $829.3M | $151.0M | $80.0M | $25.5M | $17.8M | $288.8M | $722,000 | $0 | $0 |
| Dividends + buybacks / free cash flow | 128.1% | 37.0% | — | — | — | — | — | — | — |
| Capex / revenue | 0.3% | 0.2% | 3.1% | 4.6% | 7.6% | 7.8% | 13.1% | 11.8% | 4.0% |
| Capex / operating cash flow | 2.3% | 2.4% | — | — | — | — | — | — | — |
| Capex / depreciation | 0.06 | 0.04 | 0.56 | 0.61 | 0.81 | 0.62 | 3.10 | 3.56 | 1.22 |
| Stock-based compensation / revenue | 5.6% | 8.0% | 10.9% | 25.8% | 52.7% | 52.9% | 5.4% | 3.2% | 2.3% |
| R&D / revenue | 7.6% | 8.3% | 9.7% | 14.2% | 19.6% | 27.4% | 17.3% | 14.5% | 10.5% |
| SG&A / revenue | 33.9% | 42.6% | 49.3% | 87.0% | 139.6% | 153.4% | 95.9% | 97.9% | 111.1% |
| Efficiency | |||||||||
| Days sales outstanding | 6.8 | 18.0 | 27.9 | 25.2 | 24.3 | 31.1 | 28.9 | 34.4 | — |
| Days of inventory on hand | — | — | — | 116.4 | 175.7 | 227.3 | 449.2 | 837.4 | — |
| Days payables outstanding | 43.1 | 5.4 | 3.5 | 7.7 | 18.5 | 23.5 | 49.6 | 92.6 | 150.3 |
| Cash conversion cycle (days) | -36.2 | 12.5 | 24.4 | 133.9 | 181.5 | 234.9 | 428.4 | 779.2 | — |
| Receivables turnover | 53.59 | 20.30 | 13.08 | 14.50 | 15.02 | 11.75 | 12.64 | 10.61 | — |
| Payables turnover | 8.48 | 67.22 | 103.54 | 47.36 | 19.70 | 15.51 | 7.36 | 3.94 | 2.43 |
| Inventory turnover | — | — | — | 3.14 | 2.08 | 1.61 | 0.81 | 0.44 | — |
| Asset turnover | 1.37 | 1.16 | 0.92 | 0.55 | 0.35 | 0.33 | 1.03 | 0.94 | 1.05 |
| Average receivables | $113.0M | $234.8M | $280.2M | $154.5M | $86.3M | $52.3M | $25.6M | $21.3M | — |
| Average payables | $419.6M | $43.9M | $22.1M | $31.3M | $40.3M | $22.3M | $14.1M | $12.3M | $13.1M |
| Average inventory | — | — | — | $473.3M | $382.3M | $215.9M | $127.8M | $111.7M | — |
| Intangibles / total assets | 54.9% | 58.1% | 40.0% | 41.2% | 28.3% | 32.7% | 11.7% | 7.2% | 8.0% |
Computed from DKNG's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DKNG valuation and financial ratios
DraftKings earned a return on equity of 0.5% and a return on invested capital of −0.6% in fiscal 2025. It ended the year with $1.9 billion of debt and $1.6 billion in cash and short-term investments, net debt of $329.6 million. It returned $829.3 million to shareholders: $0 in dividends and $829.3 million in share buybacks, 128% of free cash flow. The share count rose 168.6% from 184.6M to 495.9M over 8 years.
See the DKNG income statement, the DKNG chart for price history, or the DKNG stock overview for the latest quote and news.
DKNG key metrics FAQ
What is DraftKings's EV/EBITDA?
DraftKings's enterprise value was 57.4 times EBITDA at the end of fiscal 2025 (enterprise value $17.4 billion, EBITDA $303.4 million); the current EV/EBITDA is 104.7.
What is DraftKings's return on equity?
DraftKings's return on equity (ROE) was 0.5% in fiscal 2025: net income of $3.7 million on average shareholders' equity of $821.0 million.
What is DraftKings's ROIC?
DraftKings's return on invested capital was −0.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does DraftKings have?
DraftKings had total debt of $1.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.06 and $329.6 million of net debt (1.09 times EBITDA).
Does DraftKings buy back its shares?
Yes. DraftKings spent $829.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.9% over the year, to 495.9M..
What is DraftKings's free cash flow yield?
DraftKings generated $647.5 million of free cash flow in fiscal 2025, a free cash flow yield of 3.8% on its market value at year-end ($17.1 billion).
What is DraftKings's current ratio?
DraftKings's current ratio was 1.03 at the end of fiscal 2025: current assets were 1.03 times current liabilities.