DraftKings (DKNG) Operating Margin (2021 - 2026)
DraftKings (DKNG) reported Operating Margin of -4.72% for Q2 2026, down 14.68 percentage points from 9.96% a year earlier and down 5.08 percentage points from the prior quarter.
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DraftKings (DKNG) Operating Margin (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, DraftKings' Operating Margin came in at -2.93%, up 3.23 percentage points year-over-year; for FY2025, it came in at -0.26%, up 12.51 percentage points from FY2024.
- Operating Margin has increased for five consecutive years, with a five-year change of +136.96 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at -12.77% in FY2024 (+8.76 pp), -21.53% in FY2023 (+45.94 pp), -67.48% in FY2022 (+53.02 pp) and -120.49% in FY2021 (+16.73 pp).
- Five-year quarterly Operating Margin spans a low of -256.80% in Q3 2021 and a high of 9.96% in Q2 2025.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +4.26 percentage points.
- The high point for year-over-year Operating Margin in five years was Q3 2022 (a gain of 166.14 percentage points); the low point was Q1 2022 (a drop of 19.57 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 0.36% (Q1 2026), 7.63% (Q4 2025) and -23.77% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.50 Bn | 10.92 Bn | 1.48 Bn | 19.59% |
| 2 | DraftKings | 16.89 Bn | 12.55 Bn | 551.45 Mn | -4.72% |
| 3 | Flutter Entertainment | 12.94 Bn | 6.68 Bn | 1.71 Bn | -3.33% |
| 4 | Madison Square Garden Sports | 9.77 Bn | 9.37 Bn | 119.21 Mn | 11.53% |
| 5 | Life Time Group Holdings | 8.91 Bn | 8.14 Bn | 412.26 Mn | 17.29% |
| 6 | Wynn Resorts | 8.21 Bn | 1.77 Bn | 758.95 Mn | 16.03% |
| 7 | MGM Resorts International | 7.81 Bn | -371.12 Mn | 1.98 Bn | 11.32% |
| 8 | Caesars Entertainment | 6.04 Bn | 2.66 Bn | 1.50 Bn | 17.14% |
| 9 | Super Group (SGHC) | 5.74 Bn | 3.73 Bn | - | - |
| 10 | Churchill Downs | 5.27 Bn | 4.55 Bn | 419.00 Mn | 36.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -4.72% |
| Mar 31, 2026 | 0.36% |
| Dec 31, 2025 | 7.63% |
| Sep 30, 2025 | -23.77% |
| Jun 30, 2025 | 9.96% |
| Mar 31, 2025 | -3.29% |
| Dec 31, 2024 | -9.99% |
| Sep 30, 2024 | -27.26% |
| Jun 30, 2024 | -2.93% |
| Mar 31, 2024 | -11.82% |
| Dec 31, 2023 | -3.56% |
| Sep 30, 2023 | -36.28% |
| Jun 30, 2023 | -7.89% |
| Mar 31, 2023 | -50.64% |
| Dec 31, 2022 | -27.16% |
| Sep 30, 2022 | -90.65% |
| Jun 30, 2022 | -66.27% |
| Mar 31, 2022 | -123.58% |
| Dec 31, 2021 | -77.91% |
| Sep 30, 2021 | -256.80% |
API Access
DraftKings Operating 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=operating-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=DKNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();