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DraftKings Inc (DKNG)




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Upturn Advisory Summary
02/13/2025: DKNG (3-star) is a STRONG-BUY. BUY since 11 days. Profits (8.71%). Updated daily EoD!
Analysis of Past Performance
Type Stock | Historic Profit 59.62% | Avg. Invested days 34 | Today’s Advisory Strong Buy |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 22.65B USD | Price to earnings Ratio - | 1Y Target Price 51.84 |
Price to earnings Ratio - | 1Y Target Price 51.84 | ||
Volume (30-day avg) 8013203 | Beta 1.82 | 52 Weeks Range 28.69 - 53.61 | Updated Date 02/13/2025 |
52 Weeks Range 28.69 - 53.61 | Updated Date 02/13/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.87 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-13 | When After Market | Estimate 0.0354 | Actual 0.14 |
Profitability
Profit Margin -9.06% | Operating Margin (TTM) -24.76% |
Management Effectiveness
Return on Assets (TTM) -6.93% | Return on Equity (TTM) -44.43% |
Valuation
Trailing PE - | Forward PE 38.46 | Enterprise Value 23115282476 | Price to Sales(TTM) 4.92 |
Enterprise Value 23115282476 | Price to Sales(TTM) 4.92 | ||
Enterprise Value to Revenue 5.02 | Enterprise Value to EBITDA -36.37 | Shares Outstanding 487628000 | Shares Floating 476865795 |
Shares Outstanding 487628000 | Shares Floating 476865795 | ||
Percent Insiders 3.18 | Percent Institutions 78.99 |
AI Summary
DraftKings Inc. Stock Overview:
Company Profile:
History: Founded in 2012 as DraftDay, DraftKings rebranded and launched its Daily Fantasy Sports (DFS) platform in 2013. It quickly became a leader in the DFS market, expanding into other online gaming segments like sports betting and iGaming. In 2020, DraftKings went public through a SPAC merger with Diamond Eagle Acquisition Corp.
Core Business Areas:
- Daily Fantasy Sports (DFS): DraftKings' flagship product allows users to create virtual teams of real-world athletes and compete for cash prizes based on their performance.
- Sports Betting: DraftKings offers online and retail sports betting in various states where it is legal.
- iGaming: DraftKings provides online casino games like slots, blackjack, and roulette in select states.
Leadership:
- Jason Robins (CEO & Co-founder)
- Paul Liberman (CFO)
- Ezra Kucharz (CTO)
- Michael Jordan (Special Advisor to the Board)
Top Products and Market Share:
- DFS: DraftKings is the market leader in the US DFS market, with over 50% market share.
- Sports Betting: DraftKings is the second-largest online sportsbook operator in the US, with an estimated market share of 17%.
- iGaming: DraftKings is a smaller player in the US iGaming market, with an estimated market share of around 5%.
Total Addressable Market:
- The global online gambling market is estimated to be worth over $93 billion in 2023 and is projected to reach $153 billion by 2028.
- The US sports betting market is expected to reach $15 billion by 2025.
- The US iGaming market is estimated to be worth $3.5 billion in 2023 and could reach $11 billion by 2028.
Financial Performance:
- Revenue: DraftKings' revenue has grown rapidly in recent years, from $436 million in 2020 to $1.82 billion in 2022.
- Net Income: DraftKings has yet to turn a profit, reporting a net loss of $1.5 billion in 2022.
- Earnings per Share (EPS): DraftKings' EPS was -$3.66 in 2022.
- Cash Flow: DraftKings has negative free cash flow, burning through $1.2 billion in 2022.
Dividends and Shareholder Returns:
- Dividends: DraftKings does not currently pay a dividend.
- Shareholder Returns: DraftKings' stock has been volatile since its IPO in 2020, with a total return of -54% as of November 6, 2023.
Growth Trajectory:
- DraftKings has experienced strong revenue growth, but profitability remains elusive.
- The company's future growth will depend on its ability to expand its market share and achieve profitability.
- Key growth drivers include the expansion of online sports betting and iGaming in the US, as well as potential international expansion.
Market Dynamics:
- The online gambling market is highly competitive, with several major players vying for market share.
- Regulation is a key factor in the online gambling industry, as different states have different laws and regulations.
- Technological advancements are driving innovation in the online gambling industry, with new products and services constantly emerging.
Competitors:
- Flutter Entertainment (PDYPY): Market leader in online sports betting and iGaming, with brands like FanDuel and Betfair.
- Penn National Gaming (PENN): Major player in land-based casinos and online sports betting through Barstool Sportsbook.
- MGM Resorts International (MGM): Leading casino operator with a growing online sports betting and iGaming business.
- Wynn Resorts (WYNN): Luxury casino operator expanding into online sports betting and iGaming.
Potential Challenges and Opportunities:
Challenges:
- Intense competition in the online gambling market.
- Regulatory uncertainty in the US.
- Potential for negative publicity and legal challenges.
- The need to achieve profitability.
Opportunities:
- Expansion of online sports betting and iGaming in the US.
- International expansion.
- Development of new products and services.
- Strategic partnerships with other companies.
Recent Acquisitions:
- Golden Nugget Online Gaming (2022): $1.56 billion acquisition of Golden Nugget's online gaming business to expand DraftKings' iGaming offerings.
- Entain (2023): $20 billion proposed acquisition of Entain, a leading global online betting and gaming company, to create a global gambling giant. (This deal is currently pending regulatory approval.)
AI-Based Fundamental Rating:
4/10
- Strengths: Strong brand recognition, leading market share in DFS, rapid revenue growth.
- Weaknesses: Unprofitable, high debt load, intense competition.
- Opportunities: Expansion of online sports betting and iGaming in the US, international expansion.
- Threats: Regulatory uncertainty, potential for negative publicity and legal challenges.
Sources and Disclaimers:
- DraftKings Investor Relations website
- Statista
- Bloomberg
- Reuters
- Seeking Alpha
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
About DraftKings Inc
Exchange NASDAQ | Headquaters Boston, MA, United States | ||
IPO Launch date 2020-04-24 | Co-Founder, Chairman & CEO Mr. Jason D. Robins | ||
Sector Consumer Cyclical | Industry Gambling | Full time employees 4400 | Website https://www.draftkings.com |
Full time employees 4400 | Website https://www.draftkings.com |
DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators. In addition, it offers DraftKings marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. The company was founded in 2012 and is headquartered in Boston, Massachusetts.
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