DraftKings (DKNG) EBITDA Margin (2021 - 2026)
DraftKings (DKNG) recorded EBITDA Margin of 0.84% in Q2 2026, down 13.43 percentage points from 14.28% a year earlier and down 3.87 percentage points from the prior quarter.
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Analysis
DraftKings (DKNG) EBITDA Margin (2021 - 2026) Analysis & Trends
On a TTM basis, DraftKings' EBITDA Margin came in at 1.76% as of Jun 30, 2026, up 2.54 percentage points year-over-year; for FY2025, it came in at 4.29%, up 11.38 percentage points from FY2024.
- Annual EBITDA Margin has increased for five straight years, with a five-year change of +128.91 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at -7.09% in FY2024 (+8.93 pp), -16.02% in FY2023 (+43.90 pp), -59.92% in FY2022 (+51.23 pp) and -111.15% in FY2021 (+13.48 pp).
- Quarterly EBITDA Margin has ranged from -242.53% in Q3 2021 to 14.28% in Q2 2025 over the past five years.
- On a year-over-year basis, EBITDA Margin rose in six of the last eight quarters, with an average year-over-year change of +4.07 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 161.06 percentage points in Q3 2022, against a drop of 20.88 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 4.71% (Q1 2026), 11.35% (Q4 2025) and -17.99% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.82 Bn | 11.24 Bn | 1.48 Bn | 31.36% |
| 2 | DraftKings | 17.42 Bn | 13.08 Bn | 551.45 Mn | 0.84% |
| 3 | Flutter Entertainment | 12.92 Bn | 6.67 Bn | 1.71 Bn | 5.89% |
| 4 | Madison Square Garden Sports | 9.97 Bn | 9.56 Bn | 119.21 Mn | 11.82% |
| 5 | Life Time Group Holdings | 8.95 Bn | 8.18 Bn | 412.26 Mn | 26.91% |
| 6 | Wynn Resorts | 8.09 Bn | 1.64 Bn | 758.95 Mn | 24.93% |
| 7 | MGM Resorts International | 7.93 Bn | -255.39 Mn | 1.98 Bn | 17.66% |
| 8 | Caesars Entertainment | 6.03 Bn | 2.66 Bn | 1.50 Bn | 29.00% |
| 9 | Super Group (SGHC) | 5.86 Bn | 3.85 Bn | - | 19.44% |
| 10 | Churchill Downs | 5.31 Bn | 4.58 Bn | 419.00 Mn | 42.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.84% |
| Mar 31, 2026 | 4.71% |
| Dec 31, 2025 | 11.35% |
| Sep 30, 2025 | -17.99% |
| Jun 30, 2025 | 14.28% |
| Mar 31, 2025 | 1.69% |
| Dec 31, 2024 | -5.25% |
| Sep 30, 2024 | -19.05% |
| Jun 30, 2024 | 2.65% |
| Mar 31, 2024 | -7.29% |
| Dec 31, 2023 | 0.93% |
| Sep 30, 2023 | -29.92% |
| Jun 30, 2023 | -2.38% |
| Mar 31, 2023 | -44.38% |
| Dec 31, 2022 | -21.47% |
| Sep 30, 2022 | -81.47% |
| Jun 30, 2022 | -57.19% |
| Mar 31, 2022 | -115.86% |
| Dec 31, 2021 | -71.03% |
| Sep 30, 2021 | -242.53% |
API Access
DraftKings EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "DKNG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();