DraftKings Inc. (DKNG) Stock Price & Analysis
DraftKings Inc. (DKNG) closed at USD 20.94 on Thursday, October 22, 2026, up 2.00% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 20.94; the Oct 22, 2026 session ranged USD 20.31–21.26 on volume of 10,429,859 shares. Market capitalization is —, with a 52-week range of USD 18.35–36.98 (NMS). Source: Nexqual, retrieved October 23, 2026 at 11:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/DKNG.md
Key facts (DKNG)
- Last four reported quarters (through Jun 30, 2026): revenue $6.22B, net income -$167M (-2.7% margin), free cash flow $651M (SEC filings).
- Total return with dividends: 1Y -39.6% vs S&P 500 +14.9%; 5Y -54.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.18, revenue estimate $1.40B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (DKNG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.30B | $2.24B | $3.67B | $4.77B | $6.05B | $6.22B |
| Gross profit | $502M | $756M | $1.37B | $1.82B | $2.50B | — |
| Operating income | -$1.56B | -$1.51B | -$789M | -$609M | -$15.8M | -$182M |
| Net income | -$1.52B | -$1.38B | -$802M | -$507M | $3.7M | -$167M |
| EPS (diluted) | -$3.78 | -$3.16 | -$1.73 | -$1.05 | -$0.01 | — |
| Free cash flow | -$435M | -$658M | -$22.7M | $408M | $648M | $651M |
| Gross margin | 38.7% | 33.8% | 37.5% | 38.1% | 41.3% | — |
| Operating margin | -120.5% | -67.5% | -21.5% | -12.8% | -0.3% | -2.9% |
| Net margin | -117.5% | -61.5% | -21.9% | -10.6% | 0.1% | -2.7% |
| Revenue growth | +110.9% | +72.9% | +63.6% | +30.1% | +27.0% | — |
| Cash + short-term investments | $2.15B | $1.31B | $1.27B | $788M | $1.13B | — |
| Total debt | $1.25B | $1.25B | $1.25B | $1.26B | $1.26B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (DKNG)
P/E at fiscal year-ends: Dec 2025 4606.2x.
Analysts (DKNG)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | JP Morgan | Target lowered | Overweight | $33 → $30 |
| 2026-10-20 | Truist Securities | Target lowered | Buy | $29 → $26 |
| 2026-10-19 | Morgan Stanley | Target lowered | Overweight | $36 → $31 |
| 2026-10-19 | Wells Fargo | Target raised | Overweight | $29 → $30 |
| 2026-10-12 | Citigroup | Target lowered | Buy | $32 → $28 |
| 2026-10-08 | Susquehanna | Target lowered | Positive | $33 → $27 |
| 2026-10-07 | Macquarie | Target lowered | Outperform | $38 → $34 |
| 2026-10-07 | Guggenheim | Target lowered | Buy | $33 → $30 |
| 2026-10-05 | B of A Securities | Upgrade | Neutral → Buy | $27 |
| 2026-10-01 | BTIG | Target lowered | Buy | $30 → $25 |
| 2026-09-24 | Citizens | Target lowered | Market Outperform | $37 → $35 |
| 2026-09-18 | UBS | Target lowered | Buy | $49 → $48 |
Total return (dividends reinvested) (DKNG)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -39.6% | -54.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -39.8% | -14.6% |
| Volatility (annualized) | 52.7% | 65.4% |
| Max drawdown | -48.7% (Jan 2026→Oct 2026) | -75.7% (Oct 2021→Oct 2022) |
DKNG revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Sports | $891.9M | 61.8% | -10.6% |
| iGaming | $461.9M | 32.0% | +7.5% |
| Other | $89.4M | 6.2% | +5.2% |
| Total revenue | $1.44B | 100% | — |
DKNG revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $5.90B | 97.4% | +26.8% |
| Non Us | $159.1M | 2.6% | +34.2% |
| Total revenue | $6.05B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
DKNG suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | “We rely on Amazon Web Services to deliver our product offerings to users, and any disruption of or interference with our use of Amazon Web Services could adversely affect our business, financial condition, results of operations and prospects.” |
| Supplier | Light & Wonder, Inc. (LNWO) | “Our iGaming product offering consists of a combination of games that we have built in-house and licensed content from suppliers such as International Gaming Technology, Light & Wonder Inc., Spin and Evolution for live dealer services.” |
| Partner | Chicago Mercantile Exchange | “If any of these third parties (other than CME or CDNA in their capacities as DCOs) terminates its relationship with us or refuses to renew its agreement with us on commercially reasonable terms, or if any such third party restricts the services it provides to us (including services relating to prediction markets) or is unwilling or unable to continue to support our product offerings, we would need to find an alter…” |
Quoted from the company's 10-K filed Feb 13, 2026.
Companies that name DKNG in their SEC reports
| Relationship to DKNG | Company | Filing | Sentence |
|---|---|---|---|
| partner | Walt Disney Co (DIS) | 10-K Nov 13, 2025 | “In November 2025, this agreement was terminated effective December 1, 2025, and ESPN entered into a promotional services agreement with DraftKings Inc., under which DraftKings Inc. will serve as the exclusive sportsbook and odds provider of ESPN effective December 1, 2025.” |
DKNG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.18 | $-0.11 | +69.7% | $1.40B | 9 |
| Next quarter (ends Dec 2026) | $0.67 | $0.69 | -2.5% | $2.18B | 8 |
| Current fiscal year (ends Dec 2026) | $0.85 | $1.02 | -16.5% | $6.67B | 13 |
| Next fiscal year (ends Dec 2027) | $1.71 | $1.70 | +0.4% | $7.59B | 13 |
DKNG options: expected move
Options price a move of about ±12.7% (±$2.64) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±7.6%. Over the last 8 reports the stock moved ±8.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 63.6% | ±7.6% |
| Nov 6, 2026 | 14 | 77.7% | ±12.7% |
| Nov 13, 2026 | 21 | 72.3% | ±14.3% |
| Nov 20, 2026 | 28 | 68.7% | ±15.6% |
| Nov 27, 2026 | 35 | 64.1% | ±16.2% |
| Dec 4, 2026 | 42 | 50.3% | ±13.9% |
| Dec 18, 2026 | 56 | 62.1% | ±19.7% |
| Jan 15, 2027 | 84 | 60.1% | ±23.1% |
30-day implied volatility 66.4% vs 53.7% realized over the last 30 trading days. Put/call ratio (volume) 0.22. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:22 UTC)
| Price | USD 20.94 |
|---|---|
| Change | ▲ 2.00% (up) |
| Previous Close | USD 20.94 |
| Open | USD 20.94 |
| Day Range | USD 20.31 – 21.26 |
| 52-Week Range | USD 18.35 – 36.98 |
| Volume | 10,429,859 shares |
| Market Cap | — |
| Exchange | NMS |
Technical Analysis (DKNG)
Nexqual's technical model rates DKNG "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 11:22 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 51.3 (neutral) |
| vs SMA50 | Below (USD 22.4) |
| MACD | -0.56 (negative) |
Earnings (DKNG)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD -0.18 |
| Revenue Estimate | $1.40B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.09 vs est 0.19 ▼ miss |
| 2026-03-31 | USD 0.2 vs est 0.17 ▲ beat |
| 2025-12-31 | USD 0.36 vs est 0.41 ▼ miss |
| 2025-09-30 | USD -0.26 vs est -0.26 ▼ miss |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financials & Fundamentals (DKNG)
| Total Revenue | $6.22B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -4.60% |
| Gross Margin | +76.13% |
| Operating Margin | -4.72% |
| Profit Margin | -2.68% |
| ROE | -21.14% |
| Debt / Equity | 3.36 |
| Current Ratio | 1.02 |
| Total Cash | $983.88M |
| Total Debt | $1.92B |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Ownership (DKNG)
| Insider Ownership | +8.62% |
|---|---|
| Institutional Ownership | +82.75% |
| Shares Outstanding | 496.45M |
| Float | 424.19M |
| Short % of Float | +7.89% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
From DraftKings Inc.'s Latest SEC 10-K Filing (filed 2026-02-13)
Key Strengths & Strategy (as disclosed to the SEC)
- We control access to our proprietary technology by entering into confidentiality and invention assignment agreements with our employees and contractors and confidentiality agreements with third parties.
- We also create intellectual property that includes proprietary sports betting, iGaming, digital lottery courier, prediction markets and DFS-related technology and content, as well as proprietary data acquired from the use of those product offerings.
- Our iGaming product offering consists of a combination of games that we have built in-house and licensed content from suppliers such as International Gaming Technology, Light & Wonder Inc., Spin and Evolution for live dealer services.
- In order to build the best product offerings, we have invested in core disciplines across our technology, analytics and marketing, which have allowed us to rapidly innovate and bring new experiences to market while gaining a unique understanding of our users.
Legal & Regulatory Risks (Item 1A, quoted)
- Our projections are subject to significant risks, assumptions, estimates and uncertainties, including assumptions regarding future legislation and changes in regulations, both inside and outside of the United States. As a result, our projected revenues, market share, expenses and profitability may differ materially from our expectations.
- We have been, and continue to be, the subject of governmental investigations and inquiries with respect to the operation of our businesses, and we could be subject to future governmental investigations and inquiries, legal proceedings and enforcement actions. Any such investigation, inquiry, legal proceeding or enforcement action could adversely affect our business.
- We use artificial intelligence, machine learning, data science and similar technologies in our business, and challenges with properly managing such technologies could result in reputational harm, competitive harm and legal liability, and adversely affect our results of operations.
- We are party to pending litigation in various jurisdictions and with various plaintiffs, and we may be subject to future litigation in the operation of our business. An adverse outcome in one or more proceedings could adversely affect our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:22 UTC. This page is informational and not investment advice.
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