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DraftKings Inc. DKNG Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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$1.07B-1.5%
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$2.55B-0.1%
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$7.18B+26.3%
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FluorFLR
-2.9×+0.3×
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$536.97M-34.3%
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The Ensign GroupENSG
$136.49M-2.9%

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.

$664.0Mtotal debt−$1.4Bcash and equivalents=-$722.85M

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 net debt?
DraftKings Inc. (DKNG) reported net debt of -$722.85M in Q1 2026.
How has DraftKings Inc.'s net debt changed year-over-year?
DraftKings Inc.'s net debt increased by 17.6% year-over-year, from -$877.19M to -$722.85M.
What is the long-term trend for DraftKings Inc.'s net debt?
Over 4 years (2021 to 2025), DraftKings Inc.'s net debt has grown at a -21.5% compound annual growth rate (CAGR), from -$2.56B to -$973.87M.
What does net debt mean?
Debt left over after using all the company's cash to pay it down.
How do you interpret net debt?
A negative value means net cash — more cash than debt, a position of strength. The numerator of net-debt/EBITDA, the most common leverage yardstick.
How does net debt compare across companies?
Most informative as net-debt/EBITDA; cash-rich balance sheets can show large total debt yet little or negative net debt.