Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 4/5 core metricsFlagged areas: Earnings quality, Solvency & liquidity, Dilution.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- 4 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +27.0% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Operating margin improved
Operating margin changed +12.5 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $648M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Reportable Segment$6.05B100.0%+27.0% yoy
Members sum to the consolidated $6.05B for this period.
- Sportsbook$3.83B62.9%+31.8% yoy
- I Gaming$1.8B29.7%+19.7% yoy
- Product And Service Other$423M7.0%+18.4% yoy
- Product And Service Other Interest Income$25.6M0.4%no prior
Members sum to the consolidated $6.05B for this period.
- United States$5.9B97.4%+26.8% yoy
- Outside the United States$159M2.6%+34.2% yoy
Members sum to the consolidated $6.05B for this period.
- Reportable Segment$1.65B100.0%+16.8% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,058 US-listed filers · 129 in Communication| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $6.1B | 83rdof 3,301 top third | 86thof 124 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 27.0% | 83rdof 3,137 top third | 90thof 119 top third |
Operating margin operating income ÷ revenue | -0.3% | 42ndof 2,819 middle third | 47thof 117 middle third |
Net margin net income ÷ revenue | 0.1% | 42ndof 3,263 middle third | 52ndof 122 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 10.7% | 68thof 2,679 top third | 70thof 105 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 0.6% | 44thof 3,577 middle third | 48thof 100 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 5.6% | 33rdof 2,895 bottom third | 20thof 110 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 6 days | 93rdof 2,398 top third | 93rdof 107 top third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 178.7× | 100thof 1,954 top third | 99thof 48 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -15.0% | 88thof 2,770 top third | 82ndof 80 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 524.9% | 1stof 2,345 bottom third | 1stof 63 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 4 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Receivables AccountsReceivableNetCurrent | balance at 2023-06-30 | $32.4M 10-Q 2023-08-04 | $109M 10-Q 2024-08-02 | +237.0% | first · latest |
| Share repurchases PaymentsForRepurchaseOfCommonStock | fiscal year 2022-12-31 | $25.5M 10-K 2023-02-17 | $0 10-K 2025-02-14 | -100.0% | first · latest · 3 filings carry it |
| Share repurchases PaymentsForRepurchaseOfCommonStock | fiscal year 2023-12-31 | $80M 10-K 2024-02-16 | $0 10-K 2026-02-13 | -100.0% | first · latest · 3 filings carry it |
| Share repurchases PaymentsForRepurchaseOfCommonStock | quarter 2024-03-31 | $33.5M 10-Q 2024-05-03 | $0 10-Q 2025-05-09 | -100.0% | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for DKNG yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.