What is DraftKings Inc.'s EV / EBITDA?

DraftKings Inc. (DKNG) reported EV / EBITDA of 33× in Q1 2026.

What does EV / EBITDA mean?

What the whole business (debt included) costs relative to its operating cash earnings.

How do you interpret EV / EBITDA?

Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.

How does EV / EBITDA compare across companies?

Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.

DraftKings Inc. DKNG EV / EBITDA

EV / EBITDA at other companies

MGM Resorts InternationalMGM

19.8×+3.2×

Flutter EntertainmentFLUT

18.9×-3.0×

Other financials

Income statement

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Revenue$1.6B+16.8%

Gross profit$696.7M+23.3%

Operating income$5.8M+113%

Net income$21.1M+162%

EPS (diluted)$0.03+143%

Balance sheet

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Cash & equivalents$1.4B-10.2%

Total debt$664.0M-0.6%

Total equity$605.0M-30.7%

Total assets$4.3B-4.6%

Cash flow

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Operating cash flow-$48.4M+59.3%

CapEx$7.1M+168%

Free cash flow-$55.5M+54.4%

Valuation

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Market cap$13.09B-35.4%

Enterprise value$12.37B-36.4%

P/E223.3×—

P/S2.1×-2.0×

Profitability

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Gross margin41.8%+3.5pp

Operating margin-5.6%-1.9pp

Net margin0.9%+0.5pp

FCF margin11.3%+4.2pp

Returns & leverage

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Return on equity7.9%+4.3pp

Debt / equity1.1×+0.3×

Current ratio1×-0.2×

Where this comes from

Calculated from DraftKings Inc.’s reported figures.

enterprise value/ebitda=33×

Based on the most recent quarter.

The official record: DraftKings Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is DraftKings Inc.'s EV / EBITDA?: DraftKings Inc. (DKNG) reported EV / EBITDA of 33× in Q1 2026.
What does EV / EBITDA mean?: What the whole business (debt included) costs relative to its operating cash earnings.
How do you interpret EV / EBITDA?: Lets you compare companies with different leverage and tax positions on a like-for-like basis — the standard multiple in M&A. Lower can mean cheaper, subject to growth and capital intensity.
How does EV / EBITDA compare across companies?: Broadly comparable across non-financial sectors; not used for banks and insurers, where EBITDA is not meaningful.