Company Analysis

DraftKings Inc. (DKNG)

Nasdaq: DKNG · Services-Miscellaneous Amusement & Recreation · Boston, MA · filing with the SEC since 2021
Grade6.2
◀ Past 6.3● Present 6.8▶ Future 5.3
1 est.

The grade of DraftKings Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.2/10
◀ Past6.330% of the headline
● Present6.840% of the headline
▶ Future5.330% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.3/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
4.8/10

Has it survived what it has been through?

1 warning event since 2021; the latest 2026-09-25.

weight 33% of this tense · 48th percentile among 22 sector filers · read for itself

From the record

DraftKings Inc.'s filings since 2021 show 1 warning event: an auditor change (8-K item 4.01, the latest 2026-09-25) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.2/10

What has it actually done, year after year?

+58% a year over 6 filed years; profitable in 1 of 6.

weight 45% of this tense · 72nd percentile among 20 sector filers · read for its customers

From the record

DraftKings Inc.'s 6 filed years say what it did: revenue went from $615 million in fiscal 2020 to $6.1 billion in fiscal 2025, up 58% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 1 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span58.0%top 12% of its family
  • the share of years revenue rosetop 12% of its family
  • the share of filed years with a profitbottom 25% of its family
  • the deepest fall from a revenue peak0.0%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
6.5/10

How has it treated the people who own it?

Share count grew 4.3% a year. 57% of cash flow returned. Insiders: 16 sales, 3 purchases.

weight 22% of this tense · 65th percentile among 14 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, DraftKings Inc.'s diluted share count grew about 4.3% a year, and dividends and buybacks returned about 57% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 16 sales (15 under scheduled 10b5-1 plans) and 3 purchases of their own stock on the open market in the year to 2026-11-12, buying about $3 million (their Form 4 filings).

What it rests on

  • the share count over the yearstop 47% of its family
  • cash returned against operating cash flowtop 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.8/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
5.1/10

Is it financially healthy right now?

ROE 1%: 1¢ of profit per shareholder dollar. Leverage 86%: owes 86¢ per asset dollar.

weight 33% of this tense · 51st percentile among 19 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, DraftKings Inc. earned about 1 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 55 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 86 cents per dollar of assets, and net share issuance: its share count grew 2.9% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 36% of its family
  • return on equitybottom 41% of its family
  • gross profit against assetstop 31% of its family
  • the share count against the year beforetop 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.7/10

How strong is its position in its industry?

top 23% of 20 in its family; net margin 0.1%.

weight 45% of this tense · 77th percentile among 20 sector filers · read for its customers

From the record

DraftKings Inc.'s standing among 20 graded names in its industry family: revenue of $6.1 billion in fiscal 2025 ranks in the top 9% by size; a net margin of 0.1% ranks in the bottom 43%; revenue growth of 39.3% a year over the last 3 filed years ranks in the top 2% (its annual reports).

What it rests on

  • revenue against the family$6.05Btop 9% of its family
  • net margin0.1%bottom 43% of its family
  • three-year revenue growth39.3%top 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
7.5/10

What are the people in charge doing?

SI estimate 7.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 75th percentile among 14 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 25% of 14 in its family; the record of its people begins on 2022-05-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 4.5 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2022-05-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 4.5 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 14 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: DraftKings Inc.'s leadership is put at 7.5 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 25% of 14 in its family; the record of its people begins on 2022-05-05 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 4.5 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.3/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
6.5/10

How much room does it have to grow?

top 35% of 20 in its family for room to expand.

weight 22% of this tense · 65th percentile among 20 sector filers · read for itself

From the record

DraftKings Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1.6 billion against no long-term debt tagged leaves 35.4% of its assets as net cash, top 26% of its family; cash from operations less capital spending is 10.7% of revenue (top 34%); a gross margin of 41.3% (top 44%) (its annual report).

What it rests on

  • cash less debt against assets35.4%top 26% of its family
  • cash from operations less capital spending against revenue10.7%top 34% of its family
  • gross margin41.3%top 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.3/10

What could actually drive growth from here?

bottom 43% of 20 in its family for growth drivers.

weight 45% of this tense · 43rd percentile among 20 sector filers · read for its customers

From the record

DraftKings Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 39.3% a year over the last three filed years against 58% over all 6, slowing (bottom 18% of its family); the newest year grew 27% (top 12%); capital spending grew -22% a year (bottom 25%) (its annual reports). DraftKings Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-18.8 points a yearbottom 18% of its family
  • the newest year's revenue growth27.0%top 12% of its family
  • three-year growth of capital spending-22.0%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.8/10

Did its newest year beat what its own record pointed to?

top 42% of 18 in its family for expectations against reality.

weight 33% of this tense · 58th percentile among 18 sector filers · read for its shareholders

From the record

DraftKings Inc.'s newest year against its own record: revenue of $6.1 billion in fiscal 2025 came in 12.9% below the $7.0 billion its prior three years' pace pointed to (bottom 19% of its family); net income of $4 million against a prior three-year average of $896 million (top 25%); a net margin of 0.1% against -31.3% before (top 19%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-12.9%bottom 19% of its family
  • net income against the prior three years' average+100%top 25% of its family
  • net margin against its prior average+31.4 pointstop 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton DKNG · research, not advice