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DKNG

DraftKings Inc.
$20.53
+0.24% Oct 21 close
Consumer Cyclical Compare
-45%-29%-14%+2%+17%Oct 2025Oct 2026Apr 2026
DKNGSPY
1W
+8.6%
1M
-6.6%
3M
-10.1%
6M
-8.6%
YTD
-40.4%
1Y
-38.9%

Live chart

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What they do

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. The company offers online and retail sports betting, daily fantasy sports, digital lottery couriers, prediction markets, and other products, as well as retails sportsbooks. It also provides iGaming, or online casino products, which includes blackjack, roulette, baccarat and slot machines.

Consumer Cyclical · Gambling

For information only · Important disclosures

Grades vs sector

No sector grades for DKNG yet. Grades rank S&P 1500 stocks within their sector and refresh after each daily data run, so a stock outside that index or newly covered has none.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
What Can Make DraftKings Stock A Buy?
Trefis · 2h ago
3 Reasons DKNG is Risky and 1 Stock to Buy Instead
StockStory · 7h ago

Key stats

Market value$10.2B
P/E (next 12 months, estimated)12.0
52-week range$18.35 – $36.98
Revenue growth (latest quarter vs a year ago)-4.6%
Dividend yieldNo dividend
Analyst consensusStrong Buy (36)
Average analyst price target$34.06 (+66%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +3 (DCF counts double).
▲DCF (base case)above the price by 54%
▲Piotroski F-score7/9
▼Altman Z0.8 (distress)
▲Net debt / EBITDA-9.0x
▲Analyst target+66% (36 analysts)

Discounted cash flow

Bear
$20
-2%
growth 10% · disc. 13.3% · term. 2.0%
Base
$32
+54%
growth 17% · disc. 12.3% · term. 2.5%
Bull
$46
+123%
growth 22% · disc. 11.3% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 7% a year for 10 years.
Implied
+7%/yr
FCF, last 3 yrs
n/a
FCF, last 5 yrs
n/a
Revenue, last 3 yrs
+39%/yr
Revenue, last 5 yrs
+58%/yr
Same inputs as the DCF above: trailing free cash flow 0.7B, 12.3% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.61 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs sector

Forward EPS $1.71 vs trailing $-0.35. Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
40.5%
Operating margin
-2.9%
FCF margin
10.5%
Net margin
-2.7%
Return on equity
-29.3%
Return on invested capital
–
Net debt / EBITDA
-9.0×
Current ratio
1.0×
Interest cover
-9.9×
Cash conversion (OCF/NI)
–
Piotroski F-score 7/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✗ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 0.8 (distress zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$34
+66%
Analysts
36
Strong Buy
Range
$20–$76
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$6.1B$3.7M$647.5M
2024$4.8B$-507.3M$407.6M
2023$3.7B$-802.1M$-22.7M
2022$2.2B$-1.4B$-657.9M
2021$1.3B$-1.5B$-435.4M
2020$614.5M$-1.2B$-205.9M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +39.3%.

Earnings

Next report: 2026-11-05 · during market · EPS est -0.18
24-1125-0225-0525-0825-1126-0226-0526-08-0.260.41
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-08-060.190.09-53.1%
2026-05-060.170.20+16.4%
2026-02-120.410.36-12.5%
2025-11-06-0.26-0.26-1.9%
2025-08-060.410.38-6.3%
2025-05-080.120.12-2.4%
2025-02-13–0.14+12600.0%
2024-11-07-0.24-0.17+30.1%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$1.4B-4.6%
2026-03-31$1.6B–
2025-12-31$2.0B–
2025-09-30$1.1B–
2025-06-30$1.5B–
Analyst actions
JP Morgan
2026-10-20 · main
Overweight → Overweight
PT $30
Truist Securities
2026-10-20 · main
Buy → Buy
PT $26
Morgan Stanley
2026-10-19 · main
Overweight → Overweight
PT $31
Wells Fargo
2026-10-19 · main
Overweight → Overweight
PT $30
Citigroup
2026-10-12 · main
Buy → Buy
PT $28
Susquehanna
2026-10-08 · main
Positive → Positive
PT $27
Insider trades
Moore Jocelyn
Director · 2026-08-19
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Stats refreshed 2026-10-21 18:14:20 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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coteau

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026