DKNG
DraftKings Inc.
DKNG offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
NKE
NIKE, Inc.
NKE has the edge over DKNG overall, supported by stronger valuation and lower modeled downside.
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.
NKE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
NKE's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
DKNG PE Valuation
DKNG has no meaningful PE right now: it lost money over the past year.
NKE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $37.76 | — |
| Cheap | 23x | $47.70 | +26% |
| Forward | 30x | $37.76 | — |
| Fair | 33x | $68.16 | +80% |
| Expensive | 47x | $97.86 | +159% |
Historical ranges are pointers, not guarantees.
NKE's PE is in its cheap range at 18x. On analysts' estimates for next year's earnings, today's price would be 30x, in its fair range.
DKNG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
DKNG has the edge over NKE on the outlook, with more favorable earnings and revenue expectations.
NKE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Decline | |
| Improving | |
| Moderate | |
| Low |
Analysts expect NKE's profitability to improve, but its revenue to decline. However, they disagree widely on these estimates.
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.
NKE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | -39% |
| Q3 2026 | $2.09 | +7.2% |
| Q2 2026 | $2.10 | -2.8% |
| Q1 2026 | $1.51 | -50% |
| Q4 2025 | $1.70 | -48% |
| Q3 2025 | $1.95 | -44% |
| Q2 2025 | $2.16 | -42% |
| Q1 2025 | $3.01 | -11% |
| Q4 2024 | $3.24 | -5.3% |
NKE 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 has the edge over NKE on sales, with more consistent year-over-year improvement.
| 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.
NKE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.2B | -4.3% |
| Q2 2026 | $11B | -1.1% |
| Q1 2026 | $11.3B | +0.1% |
| Q4 2025 | $12.4B | +0.6% |
| Q3 2025 | $11.7B | +1.1% |
| Q2 2025 | $11.1B | -12% |
| Q1 2025 | $11.3B | -9.3% |
| Q4 2024 | $12.4B | -7.7% |
NKE's revenue fell from its 2023 peak and has held roughly level since: $11.2B last quarter, down 4.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +0.3 points |
| Q2 2026 | 12% | +9.2 points |
| Q1 2026 | 5.8% | -1.7 points |
| Q4 2025 | 8% | -3.4 points |
| Q3 2025 | 7.9% | -3.4 points |
| Q2 2025 | 2.9% | -11 points |
| Q1 2025 | 7.5% | -3.8 points |
| Q4 2024 | 11% | -2.9 points |
NKE 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 the edge over NKE on cash flow, with more consistent year-over-year improvement.
NKE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$64M | -527% |
| Q2 2026 | $1.5B | +313% |
| Q1 2026 | $284M | -83% |
| Q4 2025 | $386M | -58% |
| Q3 2025 | $15M | -95% |
| Q2 2025 | $363M | -85% |
| Q1 2025 | $1.7B | -11% |
| Q4 2024 | $920M | -65% |
NKE usually generates cash, though not every quarter: the latest was −$64M, but it generated $2.1B over the past year.
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 the edge over NKE on shareholder dilution, with a more favorable share count trend.
| 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.
NKE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +3.2M shares |
| 1 year | +0.4% | +5.2M shares |
| 3 years | -3.8% | -59.1M shares |
| 5 years | -8.4% | -135M shares |
| Available history | -6.9% | -110M shares |
NKE has 1.5B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $20M |
| Q3 2025 | $126M |
| Q2 2025 | $199M |
| Q1 2025 | $506M |
| Q4 2024 | $1.1B |
NKE has spent almost nothing on buybacks in the past year.
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).
NKE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 0.2x | Very low |
| Q3 2024 | 0.1x | Very low |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | 0.1x | Very low |
NKE 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).
NKE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 57.5 | Neutral |
NKE's weekly RSI is 40 (neutral) and its Stochastic is 58 (neutral).
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.
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE is trading at 18x earnings, in line with 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.
NKE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.7 | 2.8% above |
| 20 week MA | $39.2 | 3.6% below |
| 50 week MA | $48.0 | 21% below |
| 100 week MA | $58.4 | 35% below |
| 200 week MA | $79.2 | 52% below |
NKE 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.
NKE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.6 | $141.6 | +39% |
| 2021 | $141.6 | $165.7 | +17% |
| 2022 | $165.7 | $116.3 | -30% |
| 2023 | $116.3 | $108.6 | -6.6% |
| 2024 | $108.6 | $76.4 | -30% |
| 2025 | $76.4 | $60.9 | -20% |
| 2026 YTD | $60.9 | $37.8 | -38% |
NKE has the edge over DKNG on returns for 2026, with the stronger performance.