DKNG
DraftKings Inc.
DKNG offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
EBAY
eBay Inc.
EBAY has the edge over DKNG overall, supported by lower modeled downside and stronger fundamentals.
DKNG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Stable | |
| Stable |
DKNG's revenue, cash flow and balance sheet are currently stable, but its profitability is under pressure.
EBAY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
EBAY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
DKNG PE Valuation
DKNG has no meaningful PE right now: it lost money over the past year.
EBAY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $31.50 | -74% |
| Fair | 16x | $71.96 | -40% |
| Forward | 18x | $120 | — |
| Expensive | 22x | $99.04 | -18% |
| Current | 26x | $120 | — |
Historical ranges are pointers, not guarantees.
EBAY's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
DKNG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
DKNG has the edge over EBAY on the outlook, with more favorable profitability expectations.
EBAY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for EBAY, with profitability holding steady.
DKNG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.77 | -$0.23 |
| Q2 2026 | -$0.35 | +$0.27 |
| Q1 2026 | $0.09 | +$0.91 |
| Q4 2025 | -$0.01 | +$1.04 |
| Q3 2025 | -$0.54 | +$0.34 |
| Q2 2025 | -$0.62 | +$0.27 |
| Q1 2025 | -$0.82 | +$0.34 |
| Q4 2024 | -$1.05 | +$0.68 |
DKNG is still losing money, but far less than before: $0.77 per share over the past year, against $4.93 at its worst in late 2021.
EBAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.63 | +45% |
| Q3 2026 | $4.57 | +0.4% |
| Q2 2026 | $4.82 | +7.3% |
| Q1 2026 | $4.40 | +6% |
| Q4 2025 | $4.34 | +10% |
| Q3 2025 | $4.55 | +15% |
| Q2 2025 | $4.49 | -12% |
| Q1 2025 | $4.15 | -17% |
| Q4 2024 | $3.94 | -24% |
EBAY has the edge over DKNG on earnings quality, reporting a profit while its opponent remains loss making.
DKNG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +16% |
| Q2 2026 | $1.4B | -4.6% |
| Q1 2026 | $1.6B | +17% |
| Q4 2025 | $2B | +43% |
| Q3 2025 | $1.1B | +4.4% |
| Q2 2025 | $1.5B | +37% |
| Q1 2025 | $1.4B | +20% |
| Q4 2024 | $1.4B | +13% |
DKNG's revenue is growing: $1.3B last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -37% | -13 points |
| Q2 2026 | -4.7% | -15 points |
| Q1 2026 | 0.4% | +3.6 points |
| Q4 2025 | 7.6% | +18 points |
| Q3 2025 | -24% | +3.5 points |
| Q2 2025 | 10% | +13 points |
| Q1 2025 | -3.3% | +8.5 points |
| Q4 2024 | -10% | -6.4 points |
DKNG's operating margin was −37% last quarter, down 13 points from the same quarter a year ago.
EBAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.2B | +14% |
| Q2 2026 | $3.1B | +15% |
| Q1 2026 | $3.1B | +19% |
| Q4 2025 | $3B | +15% |
| Q3 2025 | $2.8B | +9.5% |
| Q2 2025 | $2.7B | +6.1% |
| Q1 2025 | $2.6B | +1.1% |
| Q4 2024 | $2.6B | +0.7% |
EBAY's revenue has grown year over year for 15 quarters in a row: $3.2B last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -1.2 points |
| Q2 2026 | 22% | +3.8 points |
| Q1 2026 | 20% | -4 points |
| Q4 2025 | 20% | -0.8 points |
| Q3 2025 | 20% | -2.7 points |
| Q2 2025 | 18% | -3.6 points |
| Q1 2025 | 24% | -0.9 points |
| Q4 2024 | 21% | +5.1 points |
EBAY has the edge over DKNG on profitability, with a higher operating margin.
DKNG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$43.7M | -115% |
| Q2 2026 | $106.9M | -37% |
| Q1 2026 | -$55.5M | +$66.1M |
| Q4 2025 | $316.5M | -2.1% |
| Q3 2025 | $283M | +116% |
| Q2 2025 | $169.6M | +529% |
| Q1 2025 | -$121.7M | -$48.2M |
| Q4 2024 | $323.2M | +355% |
DKNG has burned cash in most quarters: $324M over the past year, down 50% from the year before.
EBAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $749M | -6.7% |
| Q2 2026 | $300M | +$741M |
| Q1 2026 | $897M | +39% |
| Q4 2025 | $466M | -17% |
| Q3 2025 | $803M | +24% |
| Q2 2025 | -$441M | -259% |
| Q1 2025 | $644M | +36% |
| Q4 2024 | $560M | +$564M |
EBAY has the edge over DKNG on cash flow, with more consistent year-over-year improvement.
DKNG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +843K shares |
| 1 year | +0.1% | +293K shares |
| 3 years | +6.9% | +32.2M shares |
| 5 years | +23% | +93.1M shares |
| Available history | +170% | +313M shares |
DKNG has 497M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $55.6M |
| Q1 2026 | $98.6M |
| Q4 2025 | $257.6M |
| Q3 2025 | $71.2M |
| Q2 2025 | $100.5M |
| Q1 2025 | $142.3M |
| Q4 2024 | $30.1M |
DKNG spent $412M buying back its own shares over the past year, up 20% from the year before.
EBAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -2M shares |
| 1 year | -3% | -14M shares |
| 3 years | -15% | -79M shares |
| 5 years | -31% | -205M shares |
| Available history | -44% | -359M shares |
EBAY has the edge over DKNG on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $664M |
| Q2 2026 | $323M |
| Q1 2026 | $486M |
| Q4 2025 | $635M |
| Q3 2025 | $626M |
| Q2 2025 | $624M |
| Q1 2025 | $615M |
| Q4 2024 | $911M |
EBAY spent $2.1B buying back its own shares over the past year, down 24% from the year before.
DKNG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.5x | Moderate |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 0.5x | Very low |
DKNG's net debt is about 2.5 years of its operating earnings (EBITDA).
EBAY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.9x | Healthy |
EBAY has the edge over DKNG on leverage, with a lower net debt burden relative to earnings.
DKNG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.7 | Neutral |
| Stochastic | 25.3 | Neutral |
DKNG's weekly RSI is 39 (neutral) and its Stochastic is 25 (neutral).
EBAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.9 | Neutral |
| Stochastic | 80.0 | Overbought |
EBAY's weekly RSI is 62 (neutral) and its Stochastic is 80 (overbought).
DKNG PE vs Consumer Cyclical Sector
| Metric | DKNG | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
DKNG has no meaningful PE right now: it lost money over the past year.
EBAY PE vs Consumer Cyclical Sector
| Metric | EBAY | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 18x | 46% above |
| PE % | 91 | 47 | 44 pts above |
EBAY is trading at 26x earnings, a 46% premium to the Consumer Cyclical sector's median of 18x.
DKNG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.8 | 3.5% below |
| 20 week MA | $22.7 | 16% below |
| 50 week MA | $25.3 | 24% below |
| 100 week MA | $32.1 | 40% below |
| 200 week MA | $32.5 | 41% below |
DKNG is in a downtrend: it's below all five of its weekly moving averages, and 41% below its 200-week average.
EBAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.5 | 3.1% above |
| 20 week MA | $112.4 | 6.9% above |
| 50 week MA | $102.6 | 17% above |
| 100 week MA | $89.8 | 34% above |
| 200 week MA | $69.5 | 73% above |
EBAY has the edge over DKNG on trend strength, trading above more of its moving averages.
DKNG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.7 | $52.1 | +388% |
| 2021 | $52.1 | $29.4 | -44% |
| 2022 | $29.4 | $11.5 | -61% |
| 2023 | $11.5 | $35.3 | +206% |
| 2024 | $35.3 | $37.9 | +7.6% |
| 2025 | $37.9 | $34.9 | -8% |
| 2026 YTD | $34.9 | $19.1 | -45% |
DKNG's yearly returns have swung widely, from +388% in 2020 to −61% in 2022. It's down 45% so far in 2026.
EBAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.1 | $50.1 | +39% |
| 2021 | $50.1 | $64.9 | +29% |
| 2022 | $64.9 | $40.2 | -38% |
| 2023 | $40.2 | $43.6 | +8.6% |
| 2024 | $43.6 | $62.8 | +44% |
| 2025 | $62.8 | $85.2 | +36% |
| 2026 YTD | $85.2 | $120.1 | +41% |
EBAY has the edge over DKNG on returns for 2026, with the stronger performance.