DraftKings Inc. (DKNG)
NEUTRALファンダメンタル
52
株価
$25.92
時価総額
$12.89B
パート1 · 企業の価値
概要
DraftKings runs mobile sports betting (Sportsbook) and online casino games (iGaming) in states and countries where they are legal, plus daily fantasy sports contests, a digital lottery courier service, and a newer prediction-markets product. Users open the DraftKings app, deposit money, and place bets on sporting events or play casino games; the company sets the odds or house edge and earns the difference between what is wagered and what it pays out to winners.
収益の仕組み
Revenue is the amount wagered (handle) multiplied by the net revenue margin DraftKings keeps after paying out winning bets and promotional credits, plus a similar take rate on iGaming wagers. Because online betting is legalized state by state, a large part of revenue growth comes from newly opened markets maturing rather than from existing users betting more, and heavy promotional spending to win and keep bettors remains one of the company's largest costs.
セグメント別売上高
Mobile sports wagering and online casino games, together the large majority of revenue across regulated US states and Ontario, Canada.
Daily fantasy sports contests, a digital lottery courier service, and the newly launched prediction-markets vertical.
競争優位性（moat）
ブランド · 狭いDraftKings and FanDuel dominate US online betting, and reaching that scale required years of state-by-state licensing and heavy marketing spend few new entrants can match. That advantage is only narrow, though: bettors routinely hold accounts on multiple apps and chase the best odds or bonus, so brand loyalty alone does little to stop them from betting elsewhere too.
需要を左右する要因
景気循環型Betting is discretionary spending that rises and falls with household budgets, and DraftKings' growth today depends heavily on new states legalizing online sports betting and iGaming, a process that can stall for years in any given state. Once a state is mature, revenue growth slows to the pace of existing bettors' spending rather than new-market expansion.
主なリスク
- Intense competition — FanDuel and other operators compete aggressively on odds, promotions and product features; DraftKings must keep spending to retain market share in a business where switching between apps costs a bettor nothing.
- Regulatory and legalization uncertainty — Online sports betting and iGaming remain illegal in a large share of US states, and existing laws and tax rates can change; growth assumes legalization keeps expanding on the timeline the company expects.
- Cybersecurity threats — The platform handles customer funds, personal data and payment information; a breach could disrupt operations, trigger regulatory penalties and damage the trust the betting product depends on.
- Dependence on app store distribution — The DraftKings app is distributed mainly through Apple's App Store and Google Play; changes to their rules, fees or approval decisions could restrict how customers reach the product.
- Sensitivity to discretionary spending — Betting and casino play are among the first expenses households cut when money is tight, so a weaker economy or falling consumer confidence directly reduces how much customers wager.
強気材料
Buyers argue that Sportsbook and iGaming margins are structurally improving as promotional spending eases and legal markets mature, and that DraftKings, as one of only two national-scale operators alongside FanDuel, is positioned to keep capturing a duopoly's share of a growing legal betting market.
弱気材料
Sellers fear that new state tax increases, promotion-driven price competition, and bettors who freely hold accounts on multiple apps could keep margins thinner than the current growth numbers suggest, especially once the easiest state legalizations are behind the industry.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$6.22B
直近12か月（2026/6/30まで）
純利益
$-167M
直近12か月（2026/6/30まで）
フリーキャッシュフロー
$648M
自己資本合計
$631M
負債合計
$3.90B
流動比率
1.02
利払い倍率
-
負債/EBITDA
5.17
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$34.92
現在株価
$25.92
安全マージン
+25.8%
適正価値レンジ
$33.18 - $36.67
推定方法
バリュエーション指標
P/E レシオ
-
ROE
0.6%
P/B レシオ
-
P/FCF
-
粗利益率
40.5%
ROIC
-5.3%
収益性レーダー
Value Creation (Economic Moat)
ROIC
-5.3%
WACC
12.1%
ROIC − WACC
-17.4 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格（12）
- EPS shows upward trend
- Price CAGR 13.63%
- Gross Margin 40.5%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Debt/EBITDA
- Revenue Growth 5Y 58.0%
- Analyst Consensus 78% Buy
- Share Dilution -176.8%
- Net Margin Trend -2.7% vs -5.6%
- Piotroski F-Score 8/9
不合格（8）
- ROIC -5.3%
- Debt/Equity ratio
- Operating Margin -2.9%
- Return on Tangible Assets
- Low reliance on intangibles
- DCF valuation (Unknown)
- ROE -26.3%
- Earnings Surprise avg -160.6%
データなし（7）
- P/FCF NaN
- P/B Ratio NaN
- Dividend Payout NaN%
- Interest Coverage
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-スコア
財務健全性が高い
利益の質
低品質：会計処理を調査してください
株式希薄化
株式を買い戻している。株主に友好的
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Jason D. Robins | Co-Founder, Chairman & CEO | 44 |
| Mr. Paul Liberman | Co-Founder, President of Operations and Director | 41 |
| Mr. Matthew Kalish | Co-Founder & Director | 43 |
| Mr. Alan Ellingson | CFO, Principal Financial Officer & Principal Accounting Officer | 45 |
| Mr. R. Stanton Dodge Esq. | Chief Legal Officer & Secretary | 57 |
| Mr. Erik Bradbury | Chief Accounting Officer | 47 |
| Zach Maybury | Chief Technology Officer | - |
| Michael DeLalio | Senior Director of Investor Relations | - |
| Ms. Jennifer Aguiar | Chief Compliance Officer | - |
| Ms. Stephanie Agrimanakis Sherman | Chief Marketing Officer | - |
監査リスク
7
取締役会リスク
10
報酬リスク
9
株主権利リスク
10
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for DKNG, sourced from Markets Gazette.
- 18d agoNEUTRALDraftKings CEO Blasts Prediction Bets on Earnings Call Comments
DraftKings CEO Jason Robins expressed disapproval of prediction market wagers placed on executive comments during earnings calls. Robins stated that such betting is not beneficial for the company. While this comment does not directly impact DraftKings' financial performance or operational outlook, it highlights a potential concern for management regarding market speculation on executive statements. Investors may view this as a minor distraction, but it does not currently present a clear positive or negative signal for the stock.
- 19d agoNEGATIVEDraftKings Sales, Profit Fall Short Amid Prediction Market Blitz
DraftKings Inc. reported second-quarter results that fell short of analyst expectations, signaling potential headwinds for the sportsbetting giant. The company's performance was impacted by increased competition from emerging prediction market platforms, which are capturing a share of the betting landscape. This miss suggests that DraftKings may need to adapt its strategy to counter new competitive pressures and maintain its market dominance. Investors will be closely watching the company's response and future guidance.
- 19d agoPOSITIVEOption Traders Pile Into Bullish DraftKings Bets Before Earnings
Ahead of DraftKings' upcoming earnings report, a significant influx of options trading activity indicates a bullish sentiment among traders. The increased volume in call options suggests a market expectation for positive performance or a favorable outlook from the sports betting company. This heightened interest, driven by anticipation of strong results, could precede a notable upward movement in the stock price if the earnings meet or exceed these optimistic projections. Investors will be closely watching the earnings call for confirmation of this bullish thesis.
- 6/13/2026NEUTRALDraftKings and Flutter Jump as World Cup Continues, But Key Risk Remains
DraftKings and Flutter Entertainment stocks are experiencing upward momentum, coinciding with the ongoing World Cup, a period typically associated with increased sports betting activity. However, this positive trend is tempered by the emerging threat of prediction markets, which could represent a structural shift in the market and a long-term risk to traditional sports betting operators. Investors are weighing the short-term gains from major sporting events against the potential disruption from new market entrants and evolving consumer preferences.
- 6/10/2026POSITIVEDraftKings Stock In Focus After 11% Surge on Predictions Metrics — FIFA World Cup Adds To The Bull Case
DraftKings Inc. experienced an 11% surge in its stock price, drawing significant investor attention. This rally occurred despite a broader decline in the Nasdaq index, highlighting strong company-specific momentum. The company's "Predictions" metrics are reportedly exceeding expectations, contributing to the positive sentiment. Furthermore, the upcoming FIFA World Cup is identified as a potential catalyst that could further bolster the company's performance. This combination of strong operational metrics and a significant upcoming event provides a compelling bull case for investors.
- 5/14/2026NEGATIVEDraftKings Gets Rare Sell Rating as Kalshi, Polymarket Threaten Growth
DraftKings Inc. faces a rare sell rating from Wall Street analysts, citing the growing threat from sports prediction markets operated by Kalshi and Polymarket. These platforms are increasingly competing for user engagement and capital, potentially hindering DraftKings' future growth trajectory. The emergence of these alternative betting avenues suggests a shift in market dynamics, where a more fragmented landscape could dilute market share and impact revenue streams for established players like DraftKings. Investors should monitor the competitive response and regulatory landscape surrounding these prediction markets.
- 5/7/2026POSITIVEDraftKings Profit Beats, Ups Prediction Market Spending
DraftKings Inc. announced first-quarter revenue growth of 17%, reaching $1.65 billion, surpassing analyst expectations of $1.63 billion. The company also signaled an increased investment in prediction markets, indicating a strategic expansion into new revenue streams. This performance suggests strong operational execution and a positive outlook for future growth. Investors may view the revenue beat and strategic investment as indicators of continued market share gains and potential for enhanced profitability, warranting a reassessment of the stock's valuation.
via Markets Gazette