DraftKings (DKNG) Gross Margin (2021 - 2026)
DraftKings' Gross Margin was 38.21% in Q2 2026, down 5.29 percentage points from 43.50% a year earlier and down 4.11 percentage points from the prior quarter.
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Analysis
DraftKings (DKNG) Gross Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, DraftKings' Gross Margin was 40.54% through Jun 30, 2026, up 1.09 percentage points year-over-year; for FY2025, it was 41.25%, up 3.14 percentage points from FY2024.
- Gross Margin has now increased for three consecutive years, though with a five-year change of -2.35 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 38.11% in FY2024 (+0.65 pp), 37.46% in FY2023 (+3.71 pp), 33.75% in FY2022 (-4.97 pp) and 38.72% in FY2021 (-4.88 pp).
- Quarterly Gross Margin has moved between 19.77% (Q3 2021) and 46.51% (Q4 2021) over five years.
- Compared with a year earlier, Gross Margin was higher in five of the last eight quarters, with an average year-over-year change of +0.69 percentage points.
- The best year-over-year quarter for Gross Margin over five years was Q2 2023 (a gain of 8.76 percentage points); the worst was Q1 2022 (a drop of 16.44 percentage points).
- Per Business Quant data, DKNG's Gross Margin in the three quarters before Q2 2026 was 42.32% (Q1 2026), 45.98% (Q4 2025) and 31.46% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.94 Bn | 11.04 Bn | 1.48 Bn | 46.92% |
| 2 | Flutter Entertainment | 13.84 Bn | 7.21 Bn | 1.71 Bn | 39.60% |
| 3 | DraftKings | 10.19 Bn | 5.85 Bn | 551.45 Mn | 38.21% |
| 4 | Madison Square Garden Sports | 9.98 Bn | 9.58 Bn | 119.21 Mn | 42.77% |
| 5 | Life Time Group Holdings | 9.17 Bn | 8.40 Bn | 412.26 Mn | 47.61% |
| 6 | Wynn Resorts | 7.94 Bn | 2.23 Bn | 758.95 Mn | 40.87% |
| 7 | MGM Resorts International | 7.33 Bn | -1.70 Bn | 1.98 Bn | 44.47% |
| 8 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 74.64% |
| 9 | Caesars Entertainment | 5.93 Bn | 2.38 Bn | 1.50 Bn | 50.08% |
| 10 | Churchill Downs | 5.80 Bn | 5.02 Bn | 419.00 Mn | 42.76% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.21% |
| Mar 31, 2026 | 42.32% |
| Dec 31, 2025 | 45.98% |
| Sep 30, 2025 | 31.46% |
| Jun 30, 2025 | 43.50% |
| Mar 31, 2025 | 40.11% |
| Dec 31, 2024 | 40.07% |
| Sep 30, 2024 | 32.23% |
| Jun 30, 2024 | 39.93% |
| Mar 31, 2024 | 39.57% |
| Dec 31, 2023 | 41.78% |
| Sep 30, 2023 | 31.20% |
| Jun 30, 2023 | 41.67% |
| Mar 31, 2023 | 32.21% |
| Dec 31, 2022 | 43.23% |
| Sep 30, 2022 | 25.75% |
| Jun 30, 2022 | 32.91% |
| Mar 31, 2022 | 24.89% |
| Dec 31, 2021 | 46.51% |
| Sep 30, 2021 | 19.77% |
API Access
DraftKings Gross 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=gross-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();