Draft Kings Inc. - Understand $dkng stock

$DKNG Market Cap: $21.83 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$4.606B

TTM

Gross Margin

38.38%

TTM

Net Earnings

-$417.1M

TTM

Current Assets

$1.644B

Q3 2024

Current Liabilities

$1.647B

Q3 2024

Current Ratio

99.83%

Q3 2024

Total Assets

$4.273B

Q3 2024

Total Liabilities

$3.197B

Q3 2024

Book Value

$1.076B

Q3 2024

Cash

$877.8M

Q3 2024

P/E

-52.35

Nov 29, 2024 EST

Free Cash Flow

$86.71M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018
Revenue	$3.665B	$2.240B	$1.296B	$614.5M	$323.4M	$226.3M
YoY Change	63.6%	72.87%	110.91%	90.01%	42.91%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018
Revenue	$3.665B	$2.240B	$1.296B	$614.5M	$323.4M	$226.3M
Cost Of Revenue	$2.292B	$1.484B	$794.2M	$346.6M	$103.9M	$48.70M
Gross Profit	$1.373B	$756.2M	$501.9M	$267.9M	$219.5M	$177.6M
Gross Profit Margin	37.46%	33.75%	38.72%	43.6%	67.87%	78.48%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018
Selling, General & Admin	$1.807B	$1.950B	$1.810B	$1.111B	$366.1M	$254.4M
YoY Change	-7.3%	7.73%	62.87%	203.52%	43.91%
% of Gross Profit	131.61%	257.83%	360.62%	414.78%	166.79%	143.24%
Research & Development	$355.2M	$318.2M	$253.7M	$168.6M	$55.90M	$32.90M
YoY Change	11.6%	25.46%	50.45%	201.61%	69.91%
% of Gross Profit	25.86%	42.09%	50.54%	62.93%	25.47%	18.52%
Depreciation & Amortization	$20.40M	$18.70M	$121.1M	$77.41M	$13.64M	$7.500M
YoY Change	9.09%	-84.56%	56.49%	467.52%	81.87%
% of Gross Profit	1.49%	2.47%	24.14%	28.9%	6.21%	4.22%
Operating Expenses	$1.807B	$1.950B	$2.063B	$1.111B	$366.1M	$254.4M
YoY Change	-7.3%	-5.51%	85.7%	203.52%	43.91%
Operating Profit	-$789.2M	-$1.512B	-$1.562B	-$843.3M	-$146.6M	-$76.80M
YoY Change	-47.79%	-3.19%	85.18%	475.24%	90.89%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018
Interest Expense	$2.679M	$18.70M	$13.91M	-$1.100M	$4.300M	$700.0K
YoY Change	-85.68%	34.47%	-1364.36%	-125.58%	514.29%
% of Operating Profit
Other Income/Expense, Net	-$224.0K	$20.70M	$30.07M	$0.00
YoY Change	-101.08%	-31.15%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018
Pretax Income	-$753.1M	-$1.330B	-$1.518B	-$844.3M	-$142.2M	-$76.10M
YoY Change	-43.37%	-12.37%	79.75%	493.74%	86.86%
Income Tax	$10.17M	-$67.87M	$8.269M	-$600.0K	$100.0K	$100.0K
% Of Pretax Income
Net Earnings	-$802.1M	-$1.378B	-$1.523B	-$844.3M	-$142.7M	-$76.20M
YoY Change	-41.79%	-9.53%	80.41%	491.66%	87.27%
Net Earnings / Revenue	-21.88%	-61.5%	-117.53%	-137.4%	-44.12%	-33.67%
Basic Earnings Per Share	-$1.73	-$3.16	-$3.78	-$4.03
Diluted Earnings Per Share	-$1.73	-$3.16	-$3.784M	-$2.763M	-$359.5K	-$192.0K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019
Cash & Short-Term Investments	$1.612B	$1.779B	$2.630B	$2.105B	$220.5M
YoY Change	-9.39%	-32.36%	24.93%	854.65%
Cash & Equivalents	$1.271B	$1.309B	$2.153B	$1.817B	$76.50M
Short-Term Investments
Other Short-Term Assets	$110.3M	$94.84M	$25.68M	$14.60M	$10.80M
YoY Change	16.27%	269.37%	75.86%	35.19%
Inventory
Prepaid Expenses
Receivables	$47.54M	$51.10M	$45.86M	$44.50M	$10.00M
Other Receivables	$301.8M	$160.1M	$51.95M	$30.30M	$19.80M
Total Short-Term Assets	$2.071B	$2.085B	$2.753B	$2.194B	$261.1M
YoY Change	-0.65%	-24.28%	25.48%	740.41%
Property, Plant & Equipment	$154.7M	$126.1M	$109.9M	$108.9M	$25.90M
YoY Change	22.7%	14.76%	0.87%	320.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$10.28M	$10.08M	$9.825M	$3.000M	$2.500M
YoY Change	1.98%	2.6%	227.5%	20.0%
Other Assets	$131.5M	$155.9M	$45.38M	$7.600M	$2.400M
YoY Change	-15.6%	243.49%	497.07%	216.67%
Total Long-Term Assets	$1.873B	$1.955B	$1.316B	$1.245B	$69.60M
YoY Change	-4.18%	48.61%	5.68%	1688.79%
Total Assets	$3.945B	$4.040B	$4.069B	$3.439B	$330.7M
YoY Change
Accounts Payable	$639.6M	$517.6M	$387.7M	$223.6M	$16.60M
YoY Change	23.57%	33.49%	73.41%	1246.99%
Accrued Expenses	$11.50M	$4.253M	$12.81M	$12.80M	$68.70M
YoY Change	170.37%	-66.81%	0.11%	-81.37%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$6.800M
YoY Change				-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.550B	$1.246B	$929.4M	$554.4M	$255.1M
YoY Change	24.32%	34.11%	67.65%	117.33%
Long-Term Debt	$1.254B	$1.251B	$1.248B	$0.00	$68.40M
YoY Change	0.21%	0.21%		-100.0%
Other Long-Term Liabilities	$228.4M	$150.0M	$133.5M	$181.5M	$56.90M
YoY Change	52.21%	12.37%	-26.43%	218.98%
Total Long-Term Liabilities	$1.482B	$1.401B	$1.382B	$181.5M	$125.3M
YoY Change	5.78%	1.39%	661.42%	44.85%
Total Liabilities	$3.105B	$2.717B	$2.391B	$808.0M	$380.3M
YoY Change	14.24%	13.68%	195.86%	112.46%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020
Basic Shares Outstanding	462.6M shares	436.5M shares	402.5M shares	305.6M shares
Diluted Shares Outstanding	462.6M shares	436.5M shares	402.5M shares	305.6M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $21.831 Billion

About DraftKings Inc.

DraftKings, Inc. is a digital sports entertainment and gaming company, which engages in the provision of online sports betting, online casino, daily fantasy sports product offerings, DraftKings Marketplace, retail sportsbook, media, and other consumer product offerings. The company is headquartered in Boston, Massachusetts and currently employs 4,400 full-time employees. The company went IPO on 2019-07-03. The firm provides users with online sports betting (Sportsbook), online casino (iGaming) and daily fantasy sports (DFS) product offerings, as well as retail sportsbook, media and other consumer product offerings. The firm is also involved in the design and development of sports betting and casino gaming software for online and retail sportsbooks and iGaming operators. The Company’s Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 27 states and in Ontario, Canada. The firm operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in three states under its Golden Nugget Online Gaming brand. The company owns Jackpocket, the digital lottery app in the United States. Its daily fantasy sports product is available in 44 states, certain Canadian provinces, and the United Kingdom.

Industry: Services-Miscellaneous Amusement & Recreation Peers: Light & Wonder, Inc. BOYD GAMING CORP Caesars Entertainment, Inc. Churchill Downs Inc LAS VEGAS SANDS CORP MGM Resorts International PENN Entertainment, Inc. Red Rock Resorts, Inc. WYNN RESORTS LTD