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DraftKings Valuation Multiples
Discover revenue and EBITDA valuation multiples for DraftKings and similar public comparables like Evolution, Wynn Resorts, MGM Resorts, The Lottery Corporation and more.
DraftKings Overview
About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number-two or -three revenue share position across states where it competes. DraftKings is now live with online or retail sports betting in 28 states and i-gaming in 5 states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company plans to launch a predictive event platform in late 2025 and also operates a non-fungible token commission-based marketplace and develops and licenses online gaming products.
Founded
2011
HQ
Employees
5.5K
Website
Financials (LTM)
EV
$13B
DraftKings Financials
DraftKings reported last 12-month revenue of $6B and EBITDA of $664M.
In the same LTM period, DraftKings generated $3B in gross profit, $664M in EBITDA, and $39M in net income.
Revenue (LTM)
DraftKings P&L
In the most recent fiscal year, DraftKings reported revenue of $6B and EBITDA of $620M.
DraftKings expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $6B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 43% | XXX | 41% | XXX | XXX | XXX |
| EBITDA | $664M | XXX | $620M | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 10% | XXX | XXX | XXX |
| EBIT Margin | 1% | XXX | 0% | XXX | XXX | XXX |
| Net Profit | $39M | XXX | $4M | XXX | XXX | XXX |
| Net Margin | 1% | XXX | 0% | XXX | XXX | XXX |
| Net Debt | — | — | $708M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
DraftKings Stock Performance
DraftKings has current market cap of $12B, and enterprise value of $13B.
Market Cap Evolution
DraftKings' stock price is $23.82.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13B | $12B | 0.0% | XXX | XXX | XXX | $0.01 |
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Start Free TrialDraftKings Valuation Multiples
DraftKings trades at 2.0x EV/Revenue multiple, and 18.8x EV/EBITDA.
EV / Revenue (LTM)
DraftKings Financial Valuation Multiples
As of March 22, 2026, DraftKings has market cap of $12B and EV of $13B.
Equity research analysts estimate DraftKings' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
DraftKings has a P/E ratio of 298.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV (current) | $13B | XXX | $13B | XXX | XXX | XXX |
| EV/Revenue | 2.0x | XXX | 2.1x | XXX | XXX | XXX |
| EV/EBITDA | 18.8x | XXX | 20.2x | XXX | XXX | XXX |
| EV/EBIT | 229.5x | XXX | 1488.2x | XXX | XXX | XXX |
| EV/Gross Profit | 4.6x | XXX | 5.0x | XXX | XXX | XXX |
| P/E | 298.8x | XXX | 3165.2x | XXX | XXX | XXX |
| EV/FCF | 23.9x | XXX | 24.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified DraftKings Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
DraftKings Margins & Growth Rates
DraftKings' revenue in the last 12 month grew by 14%.
DraftKings' revenue per employee in the last FY averaged $1.1M.
DraftKings' rule of 40 is 24% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
DraftKings' rule of X is 44% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
DraftKings Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 14% | XXX | 14% | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Growth | 37% | XXX | 32% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 24% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 44% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 22% | XXX | 23% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 11% | XXX | 11% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 7% | XXX | 8% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 42% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
DraftKings Public Comps
See public comps and valuation multiples for other Casinos & Gambling and Online Betting comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Evolution | XXX | XXX | XXX | XXX | XXX | XXX |
| Wynn Resorts | XXX | XXX | XXX | XXX | XXX | XXX |
| MGM Resorts | XXX | XXX | XXX | XXX | XXX | XXX |
| The Lottery Corporation | XXX | XXX | XXX | XXX | XXX | XXX |
| Churchill Downs | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
DraftKings M&A Activity
DraftKings acquired XXX companies to date.
Last acquisition by DraftKings was on XXXXXXXX, XXXXX. DraftKings acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by DraftKings
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialDraftKings Investment Activity
DraftKings invested in XXX companies to date.
DraftKings made its latest investment on XXXXXXXX, XXXXX. DraftKings invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by DraftKings
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout DraftKings
| When was DraftKings founded? | DraftKings was founded in 2011. |
| Where is DraftKings headquartered? | DraftKings is headquartered in United States. |
| How many employees does DraftKings have? | As of today, DraftKings has over 5K employees. |
| Who is the CEO of DraftKings? | DraftKings' CEO is Jason D. Robins. |
| Is DraftKings publicly listed? | Yes, DraftKings is a public company listed on Nasdaq. |
| What is the stock symbol of DraftKings? | DraftKings trades under DKNG ticker. |
| When did DraftKings go public? | DraftKings went public in 2020. |
| Who are competitors of DraftKings? | DraftKings main competitors are Evolution, Wynn Resorts, MGM Resorts, The Lottery Corporation. |
| What is the current market cap of DraftKings? | DraftKings' current market cap is $12B. |
| What is the current revenue of DraftKings? | DraftKings' last 12 months revenue is $6B. |
| What is the current revenue growth of DraftKings? | DraftKings revenue growth (NTM/LTM) is 14%. |
| What is the current EV/Revenue multiple of DraftKings? | Current revenue multiple of DraftKings is 2.0x. |
| Is DraftKings profitable? | Yes, DraftKings is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of DraftKings? | DraftKings' last 12 months EBITDA is $664M. |
| What is DraftKings' EBITDA margin? | DraftKings' last 12 months EBITDA margin is 11%. |
| What is the current EV/EBITDA multiple of DraftKings? | Current EBITDA multiple of DraftKings is 18.8x. |
| What is the current FCF of DraftKings? | DraftKings' last 12 months FCF is $523M. |
| What is DraftKings' FCF margin? | DraftKings' last 12 months FCF margin is 8%. |
| What is the current EV/FCF multiple of DraftKings? | Current FCF multiple of DraftKings is 23.9x. |
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