Last Price$38.73.8%
Market Cap$18.7B
DCF value
N/A
Overvalued (DCF value)
(100.0%)
Discount Rate
10.4%
Long-Term Growth Rate
2.5%
Stock quality
5/10
Good
DKNG DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Actual | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Estimate | Dec'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 614.5 90.0% | 1,296.0 110.9% | 2,240.5 72.9% | 3,665.4 63.6% | 4,767.7 30.1% | 6,450.5 35.3% | 7,571.4 17.4% | 8,610.1 13.7% | 9,666.4 12.3% | 10,411.6 7.7% | 11,123.9 6.8% | 11,788.3 6.0% | 12,390.1 5.1% | 12,915.0 4.2% | 13,350.0 3.4% | 13,683.7 2.5% |
% margin | (843.3) (137.2%) | (1,561.6) (120.5%) | (1,511.8) (67.5%) | (789.2) (21.5%) | (609.0) (12.8%) | (3,846.3) (59.6%) | (4,514.7) (59.6%) | (5,134.0) (59.6%) | (5,763.8) (59.6%) | (6,208.2) (59.6%) | (6,632.9) (59.6%) | (7,029.1) (59.6%) | (7,387.9) (59.6%) | (7,700.9) (59.6%) | (7,960.3) (59.6%) | (8,159.3) (59.6%) |
NOPAT % effective tax rate | (842.6) (137.1%) | (1,570.1) (121.1%) | (1,440.7) (64.3%) | (799.4) (21.8%) | (520.4) (10.9%) | (3,286.4) (50.9%) | (3,857.5) (50.9%) | (4,386.7) (50.9%) | (4,924.8) (50.9%) | (5,304.5) (50.9%) | (5,667.4) (50.9%) | (6,005.9) (50.9%) | (6,312.5) (50.9%) | (6,580.0) (50.9%) | (6,801.6) (50.9%) | (6,971.6) (50.9%) |
% of revenue | 77.4 12.6% | 121.1 9.3% | 169.3 7.6% | 201.9 5.5% | 270.9 5.7% | 403.0 6.2% | 473.1 6.2% | 538.0 6.2% | 604.0 6.2% | 650.5 6.2% | 695.0 6.2% | 736.5 6.2% | 774.1 6.2% | 806.9 6.2% | 834.1 6.2% | 855.0 6.2% |
% of revenue | (47.7) (7.8%) | (98.3) (7.6%) | (103.6) (4.6%) | (113.4) (3.1%) | (10.2) (0.2%) | (170.6) (2.6%) | (200.2) (2.6%) | (227.7) (2.6%) | (255.6) (2.6%) | (275.3) (2.6%) | (294.1) (2.6%) | (311.7) (2.6%) | (327.6) (2.6%) | (341.5) (2.6%) | (353.0) (2.6%) | (361.8) (2.6%) |
% of revenue | 102.5 16.7% | 356.8 27.5% | 121.7 5.4% | 134.9 3.7% | 349.7 7.3% | 353.7 5.5% | 415.1 5.5% | 472.1 5.5% | 530.0 5.5% | 570.8 5.5% | 609.9 5.5% | 646.3 5.5% | 679.3 5.5% | 708.1 5.5% | 731.9 5.5% | 750.2 5.5% |
Free Cash Flow to Firm (FCFF) % of revenue | (710.4) (115.6%) | (1,190.5) (91.9%) | (1,253.3) (55.9%) | (576.0) (15.7%) | 90.0 1.9% | (2,700.3) (41.9%) | (3,169.5) (41.9%) | (3,604.3) (41.9%) | (4,046.5) (41.9%) | (4,358.5) (41.9%) | (4,656.7) (41.9%) | (4,934.8) (41.9%) | (5,186.7) (41.9%) | (5,406.4) (41.9%) | (5,588.6) (41.9%) | (5,728.3) (41.9%) |
% of FCFF used in calculation | 80.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | 9.50 | ||||||
Discount factor | 0.95 | 0.86 | 0.78 | 0.71 | 0.64 | 0.58 | 0.52 | 0.47 | 0.43 | 0.39 | ||||||
Discounted FCFF (DFCFF) |
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DKNG DCF Value
DCF Value Calculation
as of Mar 11, 2025
Sum of DFCFF
% share of EV
N/A
30.0%
Terminal Value (TV)
N/A
Discounted TV
% share of EV
N/A
70.0%
Total Debt
1,335.1M
N/A
Shares outstanding
483.5M
FX rate
N/A
N/A
100% overvalued
Equity Value Bridge
DKNG DCF Financials
Revenue
$4,767.7M -> $13.3B
10.8% CAGR
Operating Income
($609.0M) -> ($7,960.3M)
29.3% CAGR
FCFF
$90.0M -> ($5,588.6M)
N/A CAGR
DKNG DCF sensitivity
DCF value
Long-term Terminal growth rate
1.5%
2.0%
2.5%
3.0%
3.5%
WACC
9.0%
$0.0
$0.0
$0.0
$0.0
$0.0
9.5%
$0.0
$0.0
$0.0
$0.0
$0.0
10.4%
$0.0
$0.0
$0.0
$0.0
$0.0
10.5%
$0.0
$0.0
$0.0
$0.0
$0.0
11.0%
$0.0
$0.0
$0.0
$0.0
$0.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
1.5%
2.0%
2.5%
3.0%
3.5%
WACC
9.0%
(100.0%)
(100.0%)
(100.0%)
(100.0%)
(100.0%)
9.5%
(100.0%)
(100.0%)
(100.0%)
(100.0%)
(100.0%)
10.4%
(100.0%)
(100.0%)
(100.0%)
(100.0%)
(100.0%)
10.5%
(100.0%)
(100.0%)
(100.0%)
(100.0%)
(100.0%)
11.0%
(100.0%)
(100.0%)
(100.0%)
(100.0%)
(100.0%)
Explore more intrinsic value tools hub for DKNG
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FAQ
What is DraftKings Inc. DCF (discounted cash flow) valuation?
As of Mar 11, 2025, DraftKings Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at N/A. This suggests it may be overvalued by (100.0%) compared to its current price of around $38.7, using a WACC of 10.4% and growth rates of 2.5%.
What is DraftKings Inc. WACC?
As of Mar 11, 2025, DraftKings Inc.'s Weighted Average Cost of Capital (WACC) is approximately 10.4%.
What is DraftKings Inc. Enterprise Value?
As of Mar 11, 2025, DraftKings Inc.'s Enterprise Value (EV) is approximately $0.0. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.