DraftKings (DKNG)
Market Price (5/12/2026): $24.5 | Market Cap: $12.1 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
DraftKings (DKNG)
Market Price (5/12/2026): $24.5Market Cap: $12.1 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 26% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32% Stock buyback supportStock Buyback 3Y Total is 1.2 Bil Low stock price volatilityVol 12M is 47% 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 -87%, 3Y Excs Rtn is -68% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 180x, P/EPrice/Earnings or Price/(Net Income) is 207x 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 -3.8% Short seller report 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 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32% |
| Stock buyback supportStock Buyback 3Y Total is 1.2 Bil |
| Low stock price volatilityVol 12M is 47% |
| 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 -87%, 3Y Excs Rtn is -68% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 180x, P/EPrice/Earnings or Price/(Net Income) is 207x |
| 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 -3.8% |
| 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. Conservative Fiscal Year 2026 Guidance Dampened Investor Enthusiasm.
Despite reporting strong fourth-quarter 2025 results, including a 43% year-over-year revenue increase to nearly $2.0 billion and achieving its first positive GAAP net income, DraftKings' stock plunged approximately 13-14.65% following its earnings release on February 12, 2026. This sharp decline was primarily due to a conservative outlook for fiscal year 2026, with revenue guidance set between $6.5 billion and $6.9 billion and Adjusted EBITDA between $700 million and $900 million. Management explicitly stated that no substantial revenue from its new "Predictions" market was anticipated for 2026, despite planned investments in this area, which was perceived as a cautious stance on future growth.
2. Heightened Competition and Rising Customer Acquisition Costs Put Pressure on Growth.
Analysts noted an intensifying competitive landscape, particularly from CFTC-regulated prediction markets like Kalshi and Polymarket, which began diverting event-contract volume away from traditional regulated sportsbooks. This increased competition, coupled with rising customer acquisition costs, was cited as a challenge for DraftKings. For instance, Argus downgraded DraftKings to "Hold" in April, specifically referencing these factors. Citizens Jmp also lowered its price target, citing weaker handle growth than expected in Q1 2026, partly due to a competitor becoming promotional.
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Stock Movement Drivers
Fundamental Drivers
The -10.9% change in DKNG stock from 1/31/2026 to 5/11/2026 was primarily driven by a -23.1% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.51 | 24.51 | -10.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,458 | 6,292 | 15.3% |
| P/S Multiple | 2.5 | 1.9 | -23.1% |
| Shares Outstanding (Mil) | 497 | 494 | 0.5% |
| Cumulative Contribution | -10.9% |
Market Drivers
1/31/2026 to 5/11/2026| Return | Correlation | |
|---|---|---|
| DKNG | -10.9% | |
| Market (SPY) | 3.6% | 31.9% |
| Sector (XLY) | -1.3% | 21.5% |
Fundamental Drivers
The -19.9% change in DKNG stock from 10/31/2025 to 5/11/2026 was primarily driven by a -31.4% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.59 | 24.51 | -19.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,410 | 6,292 | 16.3% |
| P/S Multiple | 2.8 | 1.9 | -31.4% |
| Shares Outstanding (Mil) | 497 | 494 | 0.4% |
| Cumulative Contribution | -19.9% |
Market Drivers
10/31/2025 to 5/11/2026| Return | Correlation | |
|---|---|---|
| DKNG | -19.9% | |
| Market (SPY) | 5.5% | 28.3% |
| Sector (XLY) | -0.1% | 20.9% |
Fundamental Drivers
The -26.4% change in DKNG stock from 4/30/2025 to 5/11/2026 was primarily driven by a -43.5% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.29 | 24.51 | -26.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,768 | 6,292 | 32.0% |
| P/S Multiple | 3.4 | 1.9 | -43.5% |
| Shares Outstanding (Mil) | 488 | 494 | -1.3% |
| Cumulative Contribution | -26.4% |
Market Drivers
4/30/2025 to 5/11/2026| Return | Correlation | |
|---|---|---|
| DKNG | -26.4% | |
| Market (SPY) | 30.4% | 30.7% |
| Sector (XLY) | 22.0% | 28.1% |
Fundamental Drivers
The 11.9% change in DKNG stock from 4/30/2023 to 5/11/2026 was primarily driven by a 180.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.91 | 24.51 | 11.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,240 | 6,292 | 180.8% |
| P/S Multiple | 4.4 | 1.9 | -56.2% |
| Shares Outstanding (Mil) | 449 | 494 | -9.1% |
| Cumulative Contribution | 11.9% |
Market Drivers
4/30/2023 to 5/11/2026| Return | Correlation | |
|---|---|---|
| DKNG | 11.9% | |
| Market (SPY) | 78.7% | 45.8% |
| Sector (XLY) | 65.5% | 46.4% |
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% | 6% | -12% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| DKNG Win Rate | 33% | 33% | 67% | 50% | 75% | 40% | |
| Peers Win Rate | 45% | 33% | 53% | 50% | 60% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| DKNG Max Drawdown | -43% | -63% | -3% | -15% | -25% | -40% | |
| Peers Max Drawdown | -32% | -56% | -14% | -26% | -31% | -25% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[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 5/11/2026 (YTD)
How Low Can It Go
| Event | DKNG | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -18.5% | -7.8% |
| % Gain to Breakeven | 22.7% | 8.5% |
| Time to Breakeven | 30 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.4% | -9.5% |
| % Gain to Breakeven | 18.2% | 10.5% |
| Time to Breakeven | 8 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -63.0% | -24.5% |
| % Gain to Breakeven | 170.4% | 32.4% |
| Time to Breakeven | 425 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.8% | -33.7% |
| % Gain to Breakeven | 60.9% | 50.9% |
| Time to Breakeven | 43 days | 140 days |
In The Past
DraftKings's stock fell -18.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 22.7% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | DKNG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -63.0% | -24.5% |
| % Gain to Breakeven | 170.4% | 32.4% |
| Time to Breakeven | 425 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.8% | -33.7% |
| % Gain to Breakeven | 60.9% | 50.9% |
| Time to Breakeven | 43 days | 140 days |
In The Past
DraftKings's stock fell -18.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 22.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About DraftKings (DKNG)
AI Analysis | Feedback
Here are 1-3 brief analogies for DraftKings (DKNG):
The Caesars Entertainment of online sports betting and gaming.
The ESPN for online sports betting and daily fantasy.
AI Analysis | Feedback
- Daily Fantasy Sports (DFS): Offers daily and weekly fantasy sports contests where users draft virtual teams of athletes and compete for prizes based on their real-world performance.
- Sports Betting: Provides a platform for users to place wagers on the outcomes of various professional and collegiate sporting events.
- iGaming (Online Casino): Delivers a range of online casino-style games, including slots, table games, and live dealer options.
- Gaming Platform Software Licensing: Designs, develops, and licenses its proprietary sports betting and casino gaming platform software to other businesses for their online and retail operations.
AI Analysis | Feedback
DraftKings (DKNG) primarily sells to individuals through its Business-to-Consumer segment. The company serves the following categories of customers:
- Daily Fantasy Sports Players: Individuals who participate in daily and weekly fantasy sports contests across various leagues and sports.
- Sports Bettors: Individuals who place wagers on sporting events through DraftKings' online and retail sportsbook platforms.
- iGaming/Casino Players: Individuals who play online casino games such as slots, table games, and live dealer games via DraftKings' iGaming platform.
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Genius Sports (GENI)
Sportradar (SRAD)
Evolution (EVO.ST)
International Game Technology (IGT)
Light & Wonder (LNW)
AI Analysis | Feedback
Jason Robins, Chief Executive OfficerJason Robins co-founded DraftKings in 2012 and has served as Chief Executive Officer since its inception, and as Chairman since April 2020. He oversees the company's long-term strategy and operations, including growth initiatives, capital strategy, and strategic partnerships. Robins co-founded DraftKings with Matthew Kalish and Paul Liberman, whom he met while working at Vistaprint. He led DraftKings in becoming a publicly traded company in April 2020 through a reverse merger. Robins has played a central role in expanding the company's platform and market presence and has led engagement with policymakers and regulators to advance fantasy sports, sports betting, and iGaming legislation across the United States. He holds approximately 88.8% of total voting power via Class B shares and serves concurrently as Chairman.
Alan Ellingson, Chief Financial OfficerAlan Ellingson was appointed Chief Financial Officer of DraftKings in May 2024. He was promoted from his previous role as Senior Vice President of Finance and Analytics. Ellingson has been with DraftKings for over four years (as of March 2024) and has extensive experience across the company's finance and analytics teams. He worked closely with the previous CFO, Jason Park, to develop DraftKings' finance and accounting department.
Matthew Kalish, President, DraftKings North AmericaMatthew Kalish co-founded DraftKings in 2012. He is accountable for all North America operations and revenue, bringing together all marketing, operations, and related analytics functions. Kalish previously served as Chief Revenue Officer from 2014 to December 2019. He played a pivotal role in DraftKings' growth, particularly after the repeal of PASPA, which enabled the company to launch the first legal online sports betting platform in New Jersey. Matthew Kalish is scheduled to step down from his executive role as President on March 31, 2026, but will continue to serve on the company's Board of Directors. He has also more recently founded HardScope, a creator media platform.
Paul Liberman, President, Global Product and TechnologyPaul Liberman co-founded DraftKings in 2012 with Jason Robins and Matthew Kalish. He has held various leadership positions within the company, including Chief Technology Officer (2011–2013), Chief Marketing Officer, and Chief Operating Officer (2015–December 2019). Since December 2019, he has served as President, Global Product and Technology, leading product development and platform technology across Sportsbook, iGaming, and Daily Fantasy Sports. DraftKings initially operated out of Liberman's apartment.
R. Stanton Dodge, Chief Legal OfficerR. Stanton Dodge joined DraftKings as Chief Legal Officer in November 2017. In this role, he oversees DraftKings' legal, government affairs, and communications teams, and is instrumental in positioning the company for growth in new markets. Before joining DraftKings, Dodge worked at DISH Network for over 20 years, where his roles included Executive Vice President, General Counsel, and Secretary, responsible for all legal, government affairs, and corporate communications for DISH.
AI Analysis | Feedback
Here are the key risks to DraftKings' business:
- Evolving Regulatory Landscape and Increased Taxation: DraftKings faces significant risks from the dynamic and often unpredictable regulatory environment in the online sports betting and iGaming industry. Changes in state and federal laws, particularly regarding taxation, can profoundly impact the company's profitability. For instance, new tax structures in states like Illinois could substantially increase DraftKings' effective tax rate, potentially from 35% to over 50% in some markets, a trend that may spread to other states. Furthermore, DraftKings' expansion into prediction markets introduces additional legal and regulatory uncertainties, as there is an ongoing jurisdictional tug-of-war between federal and state regulators on whether these markets are federally regulated financial derivatives or state-regulated gambling. Adverse rulings in this area could jeopardize DraftKings' existing state gaming licenses for its sportsbook, iGaming, and daily fantasy sports operations, potentially leading to increased compliance costs, financial losses, and negative publicity.
- Intense Competition and High Customer Acquisition Costs: DraftKings operates in a highly competitive digital sports entertainment and gaming market. It faces strong rivalry from established players like FanDuel, BetMGM, and Caesars, as well as emerging platforms. This intense competition necessitates aggressive promotional spending and high customer acquisition costs to attract and retain users, which in turn pressures profit margins and makes it challenging to maintain or grow market share. The industry's reliance on enticing players with sign-up bonuses and other promotions contributes to these elevated costs, making sustained high-velocity growth more difficult.
- Challenges in Achieving Consistent Profitability: Despite demonstrating strong revenue growth, DraftKings has historically struggled with consistent profitability, often experiencing swings between profit and loss. The company has reported negative operating and net margins in recent periods. This challenge is exacerbated by the high marketing and user acquisition costs necessary to compete, coupled with increasing state taxes. Additionally, the company's financial performance can be volatile and affected by unpredictable factors like unfavorable sports outcomes, which can lead to significant impacts on EBITDA and investor sentiment. Optimistic views on structurally higher margins need to account for the fact that the company has continued to show quarterly losses despite revenue growth.
AI Analysis | Feedback
nullAI Analysis | Feedback
DraftKings (NASDAQ: DKNG) operates in several significant addressable markets within the digital sports entertainment and gaming industry. The main products and services for which market sizes are available include Daily Fantasy Sports (DFS), Sports Betting, and iGaming.
Daily Fantasy Sports (DFS)
- The global fantasy sports market size was estimated at USD 24,853.7 million in 2024 and is projected to reach USD 56,381.2 million by 2030, exhibiting a compound annual growth rate (CAGR) of 15.2% from 2025 to 2030.
- North America represents the largest market for fantasy sports, with the North America fantasy sports market valued at USD 13.09 billion in 2025 and estimated to grow to USD 27.01 billion by 2031, at a CAGR of 12.84% during the forecast period (2026-2031). The United States accounted for 84.10% of the North American market value in 2025.
Sports Betting
- The U.S. online sports betting market size was valued at approximately $14 billion in 2023 and is expected to reach $33 billion by 2032, with a CAGR of around 10.3% over the forecast period (2024-2032).
- U.S. commercial sports betting revenue reached $16.96 billion in 2025.
- Globally, the sports betting market size was valued at USD 98.67 billion in 2024 and is projected to grow at a CAGR of 10.8% during 2025–2034.
iGaming (Online Casino)
- The U.S. iGaming market is projected to reach $26.8 billion in gross revenue in 2025, a 15% increase from $23.4 billion in 2024.
- U.S. iGaming revenue reached $10.74 billion in 2025.
- The global iGaming market was valued at $63.53 billion in 2022 and reports suggest it could expand to $153.57 billion by 2030, driven by a CAGR of 11.7% from 2023 to 2030.
Combined Online Sports Betting and iGaming (North America)
- DraftKings previously projected a North American total addressable market (TAM) exceeding $67 billion for online sports betting (OSB) and iGaming.
- Management also expects to participate in a $55 billion to $80 billion industry gross revenue opportunity by 2030, likely encompassing both online sports betting and iGaming.
Business-to-Business (B2B) Platform Software
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AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for DraftKings (DKNG) over the next 2-3 years:
- Expansion into new legalized states for Sportsbook and iGaming: DraftKings anticipates significant future potential from ongoing state legalization efforts for both Sportsbook and Casino operations, with major population centers like Texas and California representing substantial growth opportunities once regulations allow.
- Launch and growth of the "super app" and cross-promotion of products: The company's new "super app" consolidates its sportsbook, lottery, casino gaming, and predictions products into a single application. This integration is expected to enhance customer engagement, optimize operations, improve efficiency, and drive accelerated growth in iGaming through cross-promotion.
- Expansion of the "Predictions" feature: DraftKings is aggressively pushing its "Predictions" feature, which allows the company to offer sports event contracts in states without regulated online wagering. This strategic move aims to expand its reach to nearly the entire U.S. population and is considered a significant new growth opportunity.
- Customer acquisition, retention, and engagement: Continued efficient acquisition of new customers, coupled with deepening engagement among existing users, is a consistent driver of revenue growth. This is reflected in the growth of Monthly Unique Payers (MUPs) and Average Revenue per MUP (ARPMUP).
- Product innovation and optimization, including AI deployment: DraftKings plans to increase its deployment of artificial intelligence (AI) across its platform to enhance efficiency and operational capabilities. This focus on product innovation and optimization, along with improvements in structural sportsbook hold percentage and promotional deployment, is expected to contribute to future revenue growth.
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Share Repurchases
- DraftKings' Board of Directors authorized an inaugural share repurchase program of up to $1.0 billion on August 1, 2024.
- The share repurchase program was subsequently increased to $2.0 billion.
- The company repurchased $829.3 million of its Class A common stock in 2025 and $151.0 million in 2024.
Share Issuance
- DraftKings issued $25.8 million in common stock in 2025, $9.2 million in 2024, and $16.8 million in 2023.
- The number of shares outstanding increased by 2.89% in 2025 to 0.496 billion and by 4.18% in 2024 to 0.482 billion.
- A $600 million Term B Loan was secured in 2025, maturing in 2032.
Outbound Investments
- DraftKings acquired Golden Nugget Online Gaming (GNOG) in 2022 to strengthen its iGaming presence.
- The company acquired the lottery app Jackpocket for $750 million in 2024 to cross-sell to a new customer base.
- DraftKings acquired Railbird in October 2025 to expand into prediction markets.
Capital Expenditures
- Capital expenditures amounted to $146.5 million in 2025 and $105.9 million in 2024.
- In 2023, capital expenditures were $101.3 million, and in 2022, they were $96.4 million.
- The primary focus of capital expenditures includes significant investments in technology and marketing to enhance user experience and brand awareness, as well as expanding Sportsbook and iGaming offerings into new jurisdictions.
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|---|---|---|---|---|---|---|---|
| 04302026 | FUN | Six Flags Entertainment | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 0.0% | 0.0% | 0.0% |
| 04242026 | MGM | MGM Resorts International | 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 | -1.5% | -1.5% | -1.5% |
| 04242026 | WEN | Wendy's | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -2.5% | -2.5% | -5.3% |
| 04102026 | WHR | Whirlpool | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -0.8% | -0.8% | -4.8% |
| 04022026 | SKY | Champion Homes | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.1% | 3.1% | -1.2% |
| 11302025 | DKNG | DraftKings | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -29.7% | -29.7% | -37.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.95 |
| Mkt Cap | 7.6 |
| Rev LTM | 9,315 |
| Op Inc LTM | 368 |
| FCF LTM | 482 |
| FCF 3Y Avg | 282 |
| CFO LTM | 1,011 |
| CFO 3Y Avg | 900 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.6% |
| Rev Chg 3Y Avg | 8.0% |
| Rev Chg Q | 11.6% |
| QoQ Delta Rev Chg LTM | 2.7% |
| Op Inc Chg LTM | 18.2% |
| Op Inc Chg 3Y Avg | 57.4% |
| Op Mgn LTM | 5.8% |
| Op Mgn 3Y Avg | 3.3% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 11.4% |
| CFO/Rev 3Y Avg | 9.8% |
| FCF/Rev LTM | 6.5% |
| FCF/Rev 3Y Avg | 4.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.6 |
| P/S | 0.8 |
| P/Op Inc | 16.4 |
| P/EBIT | 20.1 |
| P/E | 25.1 |
| P/CFO | 8.4 |
| Total Yield | -1.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.2% |
| D/E | 2.0 |
| Net D/E | 1.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.9% |
| 3M Rtn | 7.6% |
| 6M Rtn | 7.9% |
| 12M Rtn | 0.5% |
| 3Y Rtn | -23.0% |
| 1M Excs Rtn | -4.8% |
| 3M Excs Rtn | 1.2% |
| 6M Excs Rtn | 2.9% |
| 12M Excs Rtn | -28.9% |
| 3Y Excs Rtn | -106.9% |
Comparison Analyses
Price Behavior
| Market Price | $24.51 | |
| Market Cap ($ Bil) | 12.2 | |
| First Trading Date | 07/25/2019 | |
| Distance from 52W High | -49.2% | |
| 50 Days | 200 Days | |
| DMA Price | $23.62 | $32.57 |
| DMA Trend | down | down |
| Distance from DMA | 3.8% | -24.7% |
| 3M | 1YR | |
| Volatility | 51.6% | 46.5% |
| Downside Capture | 0.38 | 0.59 |
| Upside Capture | 12.62 | 33.87 |
| Correlation (SPY) | 24.1% | 29.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.93 | 0.70 | 1.15 | 1.08 | 1.14 | 1.45 |
| Up Beta | 0.94 | 0.99 | 1.65 | 1.01 | 1.34 | 1.40 |
| Down Beta | -0.24 | 1.02 | 1.03 | 1.10 | 1.76 | 1.57 |
| Up Capture | 90% | 34% | 34% | 63% | 34% | 206% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 24 | 33 | 63 | 127 | 382 |
| Down Capture | 53% | 59% | 150% | 135% | 114% | 109% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 19 | 31 | 62 | 122 | 365 |
[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 | -29.5% | 46.7% | -0.60 | - |
| Sector ETF (XLY) | 19.5% | 18.7% | 0.82 | 27.1% |
| Equity (SPY) | 28.1% | 12.5% | 1.78 | 29.7% |
| Gold (GLD) | 42.9% | 26.9% | 1.30 | -2.0% |
| Commodities (DBC) | 48.6% | 18.0% | 2.14 | 2.4% |
| Real Estate (VNQ) | 13.6% | 13.5% | 0.70 | 15.8% |
| Bitcoin (BTCUSD) | -22.4% | 41.7% | -0.50 | 12.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DKNG | |
|---|---|---|---|---|
| DKNG | -14.2% | 61.3% | 0.00 | - |
| Sector ETF (XLY) | 7.1% | 23.8% | 0.26 | 52.9% |
| Equity (SPY) | 12.9% | 17.1% | 0.59 | 49.2% |
| Gold (GLD) | 21.2% | 17.9% | 0.96 | 0.5% |
| Commodities (DBC) | 13.5% | 19.1% | 0.58 | 6.3% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 34.0% |
| Bitcoin (BTCUSD) | 8.5% | 56.0% | 0.36 | 26.5% |
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 | 10.3% | 62.8% | 0.50 | - |
| Sector ETF (XLY) | 12.7% | 22.0% | 0.53 | 49.0% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 44.5% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 2.1% |
| Commodities (DBC) | 9.5% | 17.7% | 0.45 | 9.1% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 33.1% |
| Bitcoin (BTCUSD) | 68.1% | 66.9% | 1.07 | 23.4% |
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 |
| 5/8/2026 | 1.2% | ||
| 2/13/2026 | -13.5% | -11.3% | -1.1% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 8 | 6 |
| # Negative | 6 | 8 | 10 |
| Median Positive | 8.6% | 5.8% | 13.9% |
| Median Negative | -9.4% | -9.4% | -4.3% |
| 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 |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 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 |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/8/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 6.50 Bil | 6.70 Bil | 6.90 Bil | 0 | Affirmed | Guidance: 6.70 Bil for 2026 | |
| 2026 Adjusted EBITDA | 700.00 Mil | 800.00 Mil | 900.00 Mil | 0 | Affirmed | Guidance: 800.00 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 6.50 Bil | 6.70 Bil | 6.90 Bil | 11.7% | Higher New | Guidance: 6.00 Bil for 2025 | |
| 2026 Adjusted EBITDA | 700.00 Mil | 800.00 Mil | 900.00 Mil | 60.0% | Higher New | Guidance: 500.00 Mil for 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Moore, Jocelyn | Direct | Sell | 3162026 | 25.60 | 2,150 | 55,040 | 35,994 | Form | |
| 2 | Liberman, Paul | See Remarks | Held by the Paul Liberman 2015 Revocable Trust | Sell | 3122026 | 25.16 | 430,547 | 10,832,563 | 42,016,068 | Form |
| 3 | Liberman, Paul | See Remarks | Held by the Paul Liberman 2020 Irrevocable Trust | Sell | 3122026 | 25.16 | 53,870 | 1,355,369 | 5,374,101 | Form |
| 4 | Bradbury, Erik | Chief Accounting Officer | Direct | Sell | 3032026 | 24.56 | 2,883 | 70,800 | 937,324 | Form |
| 5 | Bradbury, Erik | Chief Accounting Officer | Direct | Sell | 2202026 | 22.50 | 7,268 | 163,530 | 826,560 | 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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