DraftKings (DKNG)
Market Price (3/9/2026): $25.1 | Market Cap: $12.4 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
DraftKings (DKNG)
Market Price (3/9/2026): $25.1Market Cap: $12.4 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27% | Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -33% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -16 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 460x, P/EPrice/Earnings or Price/(Net Income) is 3,362x | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% | |
| Low stock price volatilityVol 12M is 49% | Short seller report | |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Markets & Betting, and Experience Economy & Premiumization. Themes include Gaming Content & Platforms, Show more. | Key risksDKNG key risks include [1] heightened regulatory scrutiny and investigations into its sportsbook and potential anti-competitive practices, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Markets & Betting, and Experience Economy & Premiumization. Themes include Gaming Content & Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -73%, 3Y Excs Rtn is -33% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -16 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.3% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 460x, P/EPrice/Earnings or Price/(Net Income) is 3,362x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2% |
| Short seller report |
| Key risksDKNG key risks include [1] heightened regulatory scrutiny and investigations into its sportsbook and potential anti-competitive practices, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Disappointing 2026 Financial Guidance.
DraftKings' stock experienced a significant decline following its Q4 2025 earnings report on February 12, 2026, primarily due to weaker-than-anticipated fiscal year 2026 revenue guidance. The company projected 2026 revenue in the range of $6.5 billion to $6.9 billion, which fell short of analyst expectations that were closer to $7.3 billion. This outlook implied a slower growth rate of approximately 12% in revenue and 33% in Adjusted EBITDA, which was less than investors desired. The stock dropped by nearly 14% immediately after the report.
2. Aggressive Investment and Uncertainty in Prediction Markets.
The conservative 2026 guidance was largely attributed to DraftKings' significant capital deployment into its new federally regulated "Predictions" (event-contract trading) venture. While the company projects this new segment as a potential $10 billion annual gross revenue opportunity, the substantial investment required for platform development, the integration of the Railbird acquisition, and the establishment of a market-making division are expected to incur high costs and not immediately contribute to revenue in 2026. This focus on a capital-intensive new growth area, coupled with regulatory uncertainties and potential cannibalization concerns, weighed on investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -24.2% change in DKNG stock from 11/30/2025 to 3/8/2026 was primarily driven by a -31.7% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3082026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.16 | 25.15 | -24.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,458 | 6,055 | 10.9% |
| P/S Multiple | 3.0 | 2.1 | -31.7% |
| Shares Outstanding (Mil) | 497 | 496 | 0.1% |
| Cumulative Contribution | -24.2% |
Market Drivers
11/30/2025 to 3/8/2026| Return | Correlation | |
|---|---|---|
| DKNG | -24.2% | |
| Market (SPY) | -1.6% | 25.6% |
| Sector (XLY) | -3.2% | 17.8% |
Fundamental Drivers
The -47.6% change in DKNG stock from 8/31/2025 to 3/8/2026 was primarily driven by a -53.2% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3082026 | Change |
|---|---|---|---|
| Stock Price ($) | 47.98 | 25.15 | -47.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,410 | 6,055 | 11.9% |
| P/S Multiple | 4.4 | 2.1 | -53.2% |
| Shares Outstanding (Mil) | 497 | 496 | 0.1% |
| Cumulative Contribution | -47.6% |
Market Drivers
8/31/2025 to 3/8/2026| Return | Correlation | |
|---|---|---|
| DKNG | -47.6% | |
| Market (SPY) | 4.5% | 26.5% |
| Sector (XLY) | -1.1% | 25.7% |
Fundamental Drivers
The -42.7% change in DKNG stock from 2/28/2025 to 3/8/2026 was primarily driven by a -54.1% change in the company's P/S Multiple.| (LTM values as of) | 2282025 | 3082026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.86 | 25.15 | -42.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,768 | 6,055 | 27.0% |
| P/S Multiple | 4.5 | 2.1 | -54.1% |
| Shares Outstanding (Mil) | 488 | 496 | -1.6% |
| Cumulative Contribution | -42.7% |
Market Drivers
2/28/2025 to 3/8/2026| Return | Correlation | |
|---|---|---|
| DKNG | -42.7% | |
| Market (SPY) | 14.2% | 45.5% |
| Sector (XLY) | 6.7% | 47.2% |
Fundamental Drivers
The 33.4% change in DKNG stock from 2/28/2023 to 3/8/2026 was primarily driven by a 170.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282023 | 3082026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.86 | 25.15 | 33.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,240 | 6,055 | 170.2% |
| P/S Multiple | 3.8 | 2.1 | -45.5% |
| Shares Outstanding (Mil) | 449 | 496 | -9.4% |
| Cumulative Contribution | 33.4% |
Market Drivers
2/28/2023 to 3/8/2026| Return | Correlation | |
|---|---|---|
| DKNG | 33.4% | |
| Market (SPY) | 76.0% | 47.3% |
| Sector (XLY) | 61.0% | 49.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DKNG Return | -41% | -59% | 209% | 6% | -7% | -26% | -45% |
| Peers Return | -4% | -43% | 18% | 35% | -5% | -4% | -20% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| DKNG Win Rate | 33% | 33% | 67% | 50% | 75% | 33% | |
| Peers Win Rate | 45% | 33% | 53% | 50% | 60% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| DKNG Max Drawdown | -43% | -63% | -3% | -15% | -25% | -37% | |
| Peers Max Drawdown | -32% | -56% | -14% | -26% | -31% | -24% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FLUT, PENN, MGM, CZR, RSI. See DKNG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)
How Low Can It Go
| Event | DKNG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -85.7% | -25.4% |
| % Gain to Breakeven | 600.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -44.5% | -33.9% |
| % Gain to Breakeven | 80.2% | 51.3% |
| Time to Breakeven | 98 days | 148 days |
Compare to FLUT, PENN, MGM, CZR, RSI
In The Past
DraftKings's stock fell -85.7% during the 2022 Inflation Shock from a high on 3/19/2021. A -85.7% loss requires a 600.9% gain to breakeven.
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About DraftKings (DKNG)
AI Analysis | Feedback
- DraftKings is like a digital version of a Las Vegas sportsbook and casino (such as MGM or Caesars), accessible on your phone or computer.
- Think of it as the Amazon of sports betting and daily fantasy sports, offering a wide online marketplace for these activities.
- DraftKings aims to be the Netflix of online sports betting and iGaming, establishing itself as a leading digital entertainment platform for wagering.
AI Analysis | Feedback
- Daily Fantasy Sports (DFS): Users build virtual teams of athletes and compete for prizes based on their real-world statistical performance.
- Sportsbook: Offers legal online sports betting, allowing users to place wagers on a wide range of sports and events.
- iGaming (Online Casino): Provides a variety of online casino games, including slots, blackjack, roulette, and live dealer experiences.
AI Analysis | Feedback
DraftKings (symbol: DKNG) primarily sells its services directly to individuals.
The up to three categories of customers that it serves are:
- Sports Bettors: Individuals who place wagers on professional and collegiate sports through DraftKings' online and retail sportsbooks. This category represents a significant portion of their user base in regulated states.
- Daily Fantasy Sports (DFS) Players: Individuals who participate in daily or weekly fantasy sports contests, drafting teams of real-world athletes and competing against other users for prizes. This was DraftKings' original core business.
- iGaming/Casino Players: Individuals who play online casino games such as slots, table games (e.g., blackjack, roulette), and live dealer games through the DraftKings Casino platform in states where online casino gaming is legal.
AI Analysis | Feedback
- Sportradar (SRAD)
- Genius Sports (GENI)
- PayPal (PYPL)
- Amazon Web Services (AMZN)
AI Analysis | Feedback
Jason Robins, Chief Executive Officer
Jason Robins co-founded DraftKings in 2012 and has served as its Chief Executive Officer since its inception. He oversees the company's strategy and operations, as well as driving funding and partnerships. Before co-founding DraftKings, Robins worked in marketing and analysis at Capital One and in marketing and analytics at Vistaprint. He previously worked at Setem Technologies, a tech company specializing in voice recognition software. Robins studied Economics and Computer Science at Duke University.
Alan Ellingson, Chief Financial Officer
Alan Ellingson was appointed Chief Financial Officer of DraftKings in May 2024. He joined DraftKings in 2020 and previously held the role of Senior Vice President of Finance and Analytics. In his current role, he is responsible for the company's strategic financial planning and reporting, investor relations, and analytics teams. Prior to DraftKings, Ellingson worked at Iron Mountain Inc. for nearly eight years, where he served as Vice President, Finance – Global Operations Support. He holds a Bachelor of Science in Economics from the University of Utah and a Master of Business Administration from the University of Notre Dame.
Matt Kalish, Co-Founder and President, North America
Matt Kalish co-founded DraftKings in 2012. As President of DraftKings North America, he is responsible for all North America revenue, overseeing marketing, operations, and related analytics functions. Prior to this role, he served as the company's Chief Revenue Officer. Before DraftKings, Kalish worked at Capital One and Vistaprint, focusing on analytics and marketing. He studied Computer Science and Economics at Columbia University and received an MBA from Boston College.
Paul Liberman, Co-Founder and President, Global Technology and Product
Paul Liberman co-founded DraftKings in 2012. He is President of Global Technology and Product, leading strategic leadership and global accountability for DraftKings' technology platform, product, and IT functions. He has also served as Chief Operations Officer, Chief Technology Officer, and Chief Marketing Officer at DraftKings. Before co-founding DraftKings, Liberman worked at Analog Devices and held various roles at Vistaprint, including Marketing Segment Manager and Senior Manager Strategy & Analytic. He holds a B.S. in Electrical Engineering and a minor in Computer Science from Worcester Polytechnic Institute.
R. Stanton Dodge, Chief Legal Officer
R. Stanton Dodge joined DraftKings as Chief Legal Officer in November 2017. In this position, he oversees DraftKings' legal, government affairs, and communications teams, and is a key figure in the company's growth into new markets. Prior to joining DraftKings, Dodge served as Executive Vice President and General Counsel of DISH Network. He received a degree in accounting from the University of Vermont and a Juris Doctor, magna cum laude, from Suffolk University Law School.
AI Analysis | Feedback
DraftKings (DKNG) faces several key risks to its business, primarily stemming from its evolving regulatory environment, intense competition, and ongoing profitability challenges.The most significant risks revolve around the regulatory and legal landscape. The online gambling industry is subject to varying and evolving state-by-state regulations, which can lead to increased tax burdens and operational restrictions. For instance, states like Illinois, New Jersey, Louisiana, North Carolina, and Ohio are considering or have implemented new tax structures that could significantly impact DraftKings' effective tax rate and EBITDA. Moreover, DraftKings has recently faced heightened regulatory scrutiny and investigations into its sportsbook practices in states such as New Jersey, Michigan, and Massachusetts, which could result in substantial financial penalties and new operational restrictions. There are also ongoing concerns and investigations by lawmakers into potential anti-competitive behavior by DraftKings and FanDuel, alleging they coordinate to stifle competition by pressuring partners not to work with smaller rivals. The company's aggressive entry into unregulated prediction markets also signals a readiness to take on further regulatory risk.
Another major risk is the intense competition and high customer acquisition costs. DraftKings operates in a highly competitive market with established rivals like FanDuel and BetMGM, as well as emerging prediction markets that offer fewer restrictions for bettors. The company invests heavily in advertising and partnerships to acquire new customers, and maintaining market share becomes increasingly challenging as the industry matures and customer acquisition costs rise. While DraftKings has shown some efficiency in customer acquisition, there's a risk that lower customer costs may be offset by an increase in lower-value customers, and acquisitions may not sustain long-term customer revenue. Intense competition can also pressure DraftKings' margins, requiring costly new investments.
Finally, DraftKings faces ongoing profitability challenges and financial stress. Despite robust revenue growth, the company has experienced financial stress, as indicated by its Altman Z-Score, and continues to face challenges with negative operating and net margins. Unfavorable sports outcomes, particularly during significant events like March Madness or the NFL season, have significantly impacted the company's EBITDA and overall financial performance. There has also been significant insider selling activity without corresponding insider buying, which could raise concerns about internal confidence in the company's near-term prospects.
AI Analysis | Feedback
Clear emerging threats to DraftKings include:
-
Decentralized, Blockchain-Based Betting Platforms: These platforms represent a fundamentally different operational model compared to traditional centralized sportsbooks like DraftKings. Examples such as Polymarket and Augur leverage blockchain technology to create prediction markets and facilitate peer-to-peer betting. While still nascent and facing significant regulatory hurdles, their appeal lies in offering greater transparency, potentially lower fees due to fewer intermediaries, and censorship resistance. Should these platforms successfully navigate regulatory landscapes and gain mainstream user adoption, they could disrupt DraftKings' core business by providing an alternative, trustless betting ecosystem that bypasses the need for a traditional operator.
AI Analysis | Feedback
Here are the addressable market sizes for DraftKings' main products and services:
-
Sports Betting:
- U.S. Market: The online sports betting and iGaming market in the United States is projected to be a $30 billion total addressable market (TAM) by 2028, increasing from $20 billion in 2023. Another estimate projects the total addressable U.S. betting market to exceed $40 billion by 2030.
- Global Market: The global sports betting market was valued at approximately $99.87 billion in 2023 and is projected to grow to $212.82 billion by 2031.
-
iGaming (Online Casino Games):
- U.S. Market: The online sports betting and iGaming market in the United States is projected to be a $30 billion total addressable market (TAM) by 2028, increasing from $20 billion in 2023. U.S. iGaming gross gaming revenue is estimated to reach $7.3 billion in 2024, an increase from $6.5 billion in 2023.
- Global Market: The global iGaming market is projected to be worth $97 billion in 2024 and is expected to reach $132.90 billion by 2029. The broader global online gambling market, which includes iGaming, was estimated at $78.66 billion in 2024 and is projected to reach $153.57 billion by 2030.
-
Daily Fantasy Sports (DFS):
- North America Market: The North America Fantasy Sports Market size is estimated at $14.91 billion in 2025 and is expected to reach $27.36 billion by 2030. The U.S. fantasy sports industry accounted for over 86% of the North American market in 2024.
- Global Market: The global fantasy sports market size was estimated at $24.85 billion in 2024 and is projected to reach $56.38 billion by 2030. Another source indicates a global market size of $30.5 billion in 2023, expected to reach $114.7 billion by 2033.
AI Analysis | Feedback
DraftKings (NASDAQ: DKNG) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Expansion into New Geographies and Legal Markets: DraftKings anticipates significant revenue growth as more states legalize online sports betting (OSB) and iGaming. The company aims to expand its market presence in these new jurisdictions. For example, DraftKings has historically launched its online sportsbook in new states, contributing to its revenue growth.
- Product Innovation and Diversification, including Prediction Markets: A major growth driver is the launch of "DraftKings Predictions," a new federally regulated prediction markets platform. This initiative is viewed as a significant opportunity to expand the total addressable market, particularly in states where online sports betting is not yet legal. Furthermore, ongoing enhancements to existing Sportsbook and iGaming products, such as "Ghost Leg" and "Early Exit" features, contribute to stronger customer engagement and retention. The company also emphasizes cross-selling across its daily fantasy sports (DFS), sportsbook, and iGaming offerings to boost average revenue per user (ARPU).
- Enhanced Customer Acquisition and Retention Strategies: DraftKings is focused on efficient acquisition of new customers and improving customer retention rates. Recent reports indicate improved retention of NFL week 1 customers. These efforts, combined with product enhancements and cross-selling, lead to increased customer engagement and higher average revenue per user (ARPU), which are crucial for long-term revenue growth.
- Strategic Media Partnerships: The multi-year partnership with ESPN, designating DraftKings as its official sportsbook and odds provider, is a significant driver. This collaboration, which began integration in December 2025 and is expected to roll out fully in 2026, will leverage ESPN's extensive digital ecosystem to enhance DraftKings' brand reach and customer engagement. DraftKings also has an advertising partnership with NBCUniversal.
- Improved Structural Hold Rates and Promotional Efficiency: DraftKings aims to increase its Sportsbook net revenue margin by optimizing its parlay handle mix and improving the efficiency of its promotional activities. This strategic focus on "structural hold percentage" directly contributes to higher revenue and better profitability.
AI Analysis | Feedback
Share Repurchases
- DraftKings authorized an initial share repurchase program of up to $1.0 billion in August 2024.
- This authorization was subsequently increased to $2.0 billion in November 2025.
- The company repurchased 6.5 million shares in the first half of 2025 under its share repurchase plan.
Share Issuance
- DraftKings became a publicly traded company in April 2020 through a reverse merger with the Special Purpose Acquisition Company (SPAC) Diamond Eagle Acquisition Corporation, alongside technology provider SBTech.
- In Q3 2025, DraftKings issued approximately 1.0 million shares of Class A common stock at $43.97 per share.
- Contingent consideration of up to 3.5 million shares of Class A common stock may be payable through December 31, 2026, subject to the achievement of certain future performance targets.
Outbound Investments
- DraftKings acquired Golden Nugget Online Gaming in May 2022 for approximately $1.56 billion.
- In February 2024, the company acquired the lottery courier app Jackpocket for $750 million.
- In October 2025, DraftKings acquired Railbird Technologies Inc., a CFTC-regulated designated contract market, to expand into prediction markets, with an estimated launch cost of $50 million for the new product.
Capital Expenditures
- DraftKings' capital expenditures for the trailing twelve months ended June 2025 were approximately -$128.26 million.
- Capital expenditures for the three months ended June 2025 were -$34 million.
- Forecasted capital expenditures for 2025 are around $13.73 million, and $10.18 million for 2024.
Latest Trefis Analyses
Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02272026 | MBLY | Mobileye Global | Dip Buy | DB | Cash/EquityDip Buyer with High Net Cash % EquityBuying dips for companies with significant net cash as a % of market cap along with meaningful cash flow generation | 0.0% | 0.0% | 0.0% |
| 02202026 | SAH | Sonic Automotive | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -5.9% | -5.9% | -6.1% |
| 02132026 | MAT | Mattel | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 2.9% | 2.9% | 0.0% |
| 02132026 | SONO | Sonos | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.7% | -0.7% | -4.6% |
| 02062026 | DECK | Deckers Outdoor | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.6% | 1.6% | -0.8% |
| 11302025 | DKNG | DraftKings | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -28.1% | -28.1% | -34.4% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.77 |
| Mkt Cap | 7.5 |
| Rev LTM | 9,224 |
| Op Inc LTM | 412 |
| FCF LTM | 450 |
| FCF 3Y Avg | 244 |
| CFO LTM | 923 |
| CFO 3Y Avg | 841 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.2% |
| Rev Chg 3Y Avg | 10.5% |
| Rev Chg Q | 16.6% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Mgn LTM | 5.8% |
| Op Mgn 3Y Avg | 2.8% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 11.1% |
| CFO/Rev 3Y Avg | 8.6% |
| FCF/Rev LTM | 6.3% |
| FCF/Rev 3Y Avg | 3.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.5 |
| P/S | 0.9 |
| P/EBIT | 18.6 |
| P/E | 21.9 |
| P/CFO | 8.3 |
| Total Yield | -0.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.3% |
| D/E | 2.0 |
| Net D/E | 1.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.0% |
| 3M Rtn | 2.3% |
| 6M Rtn | -15.8% |
| 12M Rtn | -13.6% |
| 3Y Rtn | -24.5% |
| 1M Excs Rtn | 6.4% |
| 3M Excs Rtn | 1.9% |
| 6M Excs Rtn | -18.4% |
| 12M Excs Rtn | -35.5% |
| 3Y Excs Rtn | -95.9% |
Comparison Analyses
Price Behavior
| Market Price | $25.15 | |
| Market Cap ($ Bil) | 12.5 | |
| First Trading Date | 07/25/2019 | |
| Distance from 52W High | -47.9% | |
| 50 Days | 200 Days | |
| DMA Price | $29.12 | $36.20 |
| DMA Trend | down | down |
| Distance from DMA | -13.6% | -30.5% |
| 3M | 1YR | |
| Volatility | 51.2% | 48.2% |
| Downside Capture | 184.78 | 122.80 |
| Upside Capture | 13.79 | 55.58 |
| Correlation (SPY) | 25.0% | 43.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.48 | 1.58 | 1.26 | 1.22 | 1.17 | 1.51 |
| Up Beta | 4.91 | 3.21 | 2.71 | 1.62 | 1.28 | 1.43 |
| Down Beta | 1.91 | 0.99 | 0.95 | 1.75 | 1.24 | 1.58 |
| Up Capture | 38% | -23% | -8% | -22% | 45% | 297% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 9 | 18 | 29 | 52 | 119 | 382 |
| Down Capture | 323% | 272% | 193% | 169% | 122% | 110% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 12 | 23 | 32 | 71 | 129 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DKNG | |
|---|---|---|---|---|
| DKNG | -41.1% | 48.9% | -0.93 | - |
| Sector ETF (XLY) | 9.0% | 24.0% | 0.30 | 46.5% |
| Equity (SPY) | 16.4% | 19.2% | 0.66 | 44.7% |
| Gold (GLD) | 77.1% | 26.1% | 2.17 | -1.3% |
| Commodities (DBC) | 19.6% | 17.1% | 0.89 | 13.5% |
| Real Estate (VNQ) | 3.1% | 16.6% | 0.01 | 29.7% |
| Bitcoin (BTCUSD) | -24.9% | 45.6% | -0.49 | 25.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DKNG | |
|---|---|---|---|---|
| DKNG | -17.2% | 61.7% | -0.05 | - |
| Sector ETF (XLY) | 7.6% | 23.7% | 0.28 | 53.7% |
| Equity (SPY) | 13.0% | 17.0% | 0.60 | 49.1% |
| Gold (GLD) | 24.2% | 17.2% | 1.14 | 1.8% |
| Commodities (DBC) | 11.9% | 19.0% | 0.51 | 6.4% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 33.6% |
| Bitcoin (BTCUSD) | 6.5% | 56.8% | 0.34 | 26.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DKNG | |
|---|---|---|---|---|
| DKNG | 10.6% | 63.2% | 0.51 | - |
| Sector ETF (XLY) | 13.0% | 21.9% | 0.55 | 49.6% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 44.8% |
| Gold (GLD) | 15.1% | 15.6% | 0.80 | 2.4% |
| Commodities (DBC) | 9.0% | 17.6% | 0.43 | 9.4% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.26 | 33.3% |
| Bitcoin (BTCUSD) | 65.9% | 66.8% | 1.05 | 23.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/13/2026 | -13.5% | -11.3% | |
| 11/7/2025 | 8.6% | 6.1% | 24.9% |
| 8/7/2025 | -0.4% | -4.9% | 2.6% |
| 5/9/2025 | 2.5% | 3.6% | 2.4% |
| 2/14/2025 | 15.2% | -1.9% | -16.6% |
| 11/8/2024 | 3.0% | 5.5% | 9.0% |
| 8/1/2024 | -9.8% | -13.9% | -2.8% |
| 5/2/2024 | -2.8% | 2.3% | -17.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 8 | 6 |
| # Negative | 6 | 8 | 9 |
| Median Positive | 9.2% | 5.8% | 13.9% |
| Median Negative | -9.4% | -9.4% | -5.3% |
| Max Positive | 16.5% | 20.1% | 28.3% |
| Max Negative | -27.8% | -21.3% | -17.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Dodge, R Stanton | Chief Legal Officer | Direct | Sell | 12022025 | 33.84 | 52,777 | 1,785,990 | 17,332,399 | Form |
| 2 | Ellingson, Alan Wayne | Chief Financial Officer | Direct | Sell | 11142025 | 29.23 | 8,421 | 246,146 | 3,711,918 | Form |
| 3 | Sloan, Harry | Direct | Buy | 11122025 | 30.30 | 25,000 | 757,500 | 7,566,274 | Form | |
| 4 | Wendt, Gregory Westin | Direct | Buy | 11122025 | 30.27 | 10,000 | 302,700 | 302,700 | Form | |
| 5 | Dodge, R Stanton | Chief Legal Officer | Direct | Sell | 11072025 | 29.00 | 52,777 | 1,530,533 | 14,513,166 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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