DraftKings Common Stock vs Retained Earnings Analysis
DKNG Stock | USD 44.13 0.92 2.13% |
DraftKings financial indicator trend analysis is much more than just examining DraftKings latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether DraftKings is a good investment. Please check the relationship between DraftKings Common Stock and its Retained Earnings accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DraftKings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more detail on how to invest in DraftKings Stock please use our How to Invest in DraftKings guide.
Common Stock vs Retained Earnings
Common Stock vs Retained Earnings Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of DraftKings Common Stock account and Retained Earnings. At this time, the significance of the direction appears to have very strong relationship.
The correlation between DraftKings' Common Stock and Retained Earnings is 0.85. Overlapping area represents the amount of variation of Common Stock that can explain the historical movement of Retained Earnings in the same time period over historical financial statements of DraftKings, assuming nothing else is changed. The correlation between historical values of DraftKings' Common Stock and Retained Earnings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Common Stock of DraftKings are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Common Stock i.e., DraftKings' Common Stock and Retained Earnings go up and down completely randomly.
Correlation Coefficient | 0.85 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Common Stock
Retained Earnings
The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.Most indicators from DraftKings' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into DraftKings current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DraftKings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more detail on how to invest in DraftKings Stock please use our How to Invest in DraftKings guide.The DraftKings' current Tax Provision is estimated to increase to about 13.7 M, while Selling General Administrative is projected to decrease to roughly 456.2 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 501.9M | 756.2M | 1.4B | 1.4B | Total Revenue | 1.3B | 2.2B | 3.7B | 3.8B |
DraftKings fundamental ratios Correlations
Click cells to compare fundamentals
DraftKings Account Relationship Matchups
High Positive Relationship
High Negative Relationship
DraftKings fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Other Current Liab | 163.0M | 317.9M | 528.9M | 1.2B | 1.5B | 1.5B | |
Total Current Liabilities | 255.1M | 554.4M | 929.4M | 1.2B | 1.5B | 1.6B | |
Other Liab | 56.9M | 119.4M | 155.3M | 150.6M | 173.2M | 96.8M | |
Net Tangible Assets | (88.3M) | 1.6B | 527.9M | (340.6M) | (391.7M) | (372.1M) | |
Retained Earnings | (998.8M) | (1.8B) | (3.8B) | (5.1B) | (5.9B) | (5.6B) | |
Accounts Payable | 16.6M | 28.1M | 52.5M | 10.1M | 34.1M | 26.1M | |
Other Assets | 2.4M | 78.7M | 45.4M | 124.1M | 1.0 | 0.95 | |
Other Current Assets | 20.8M | 14.6M | 25.7M | 94.8M | 439.9M | 461.8M | |
Total Current Assets | 261.1M | 2.2B | 2.8B | 2.1B | 2.1B | 1.5B | |
Common Stock | 390K | 79K | 80K | 84K | 85K | 169.4K | |
Property Plant Equipment | 25.9M | 40.8M | 109.9M | 126.1M | 145.0M | 152.2M | |
Total Assets | 330.7M | 3.4B | 4.1B | 4.0B | 3.9B | 3.0B | |
Short Long Term Debt Total | 75.1M | 81.6M | 1.3B | 1.3B | 1.3B | 760.8M | |
Total Stockholder Equity | (308.0M) | 2.7B | 1.7B | 1.3B | 840.3M | 1.1B | |
Property Plant And Equipment Net | 25.9M | 108.9M | 109.9M | 126.1M | 154.7M | 98.9M | |
Current Deferred Revenue | 68.7M | 195.6M | 335.2M | 17.4M | 43.6M | 41.5M | |
Net Debt | (1.4M) | (1.7B) | (834.3M) | 15.5M | 63.9M | 67.1M | |
Cash | 76.5M | 1.8B | 2.2B | 1.3B | 1.3B | 1.2B | |
Non Current Assets Total | 69.6M | 1.2B | 1.3B | 2.0B | 1.9B | 1.2B | |
Non Currrent Assets Other | 2.4M | 7.6M | 45.4M | 155.9M | 123.7M | 129.9M | |
Cash And Short Term Investments | 76.5M | 1.8B | 2.2B | 1.3B | 1.3B | 1.2B | |
Net Receivables | 19.8M | 74.8M | 97.8M | 211.2M | 349.3M | 366.8M | |
Liabilities And Stockholders Equity | 330.7M | 3.4B | 4.1B | 4.0B | 3.9B | 3.0B | |
Non Current Liabilities Total | 383.6M | 188.1M | 1.5B | 1.5B | 1.6B | 980.4M | |
Inventory | 144M | 287.7M | 477.0M | 469.7M | 540.1M | 327.8M | |
Other Stockholder Equity | 690.4M | 4.5B | 5.4B | 6.4B | 6.7B | 4.5B | |
Total Liab | 638.7M | 742.5M | 2.4B | 2.7B | 3.1B | 1.8B | |
Net Invested Capital | (232.8M) | 2.7B | 2.9B | 2.6B | 2.1B | 1.8B | |
Long Term Investments | 2.5M | 3.0M | 9.8M | 10.1M | 10.3M | 6.5M | |
Property Plant And Equipment Gross | 25.9M | 108.9M | 150.3M | 126.1M | 230.1M | 120.2M | |
Capital Stock | 390K | 79K | 80K | 84K | 85K | 146.9K | |
Non Current Liabilities Other | 56.9M | 116.1M | 133.5M | 70.0M | 84.0M | 89.4M | |
Net Working Capital | 6.1M | 1.6B | 1.8B | 838.4M | 521.7M | 897.6M | |
Short Term Debt | 6.8M | 12.8M | 12.8M | 4.3M | 11.5M | 9.5M | |
Intangible Assets | 33.9M | 555.9M | 535.0M | 776.9M | 690.6M | 478.4M |
Pair Trading with DraftKings
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if DraftKings position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DraftKings will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to DraftKings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DraftKings when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DraftKings - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DraftKings to buy it.
The correlation of DraftKings is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DraftKings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DraftKings moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for DraftKings can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DraftKings. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more detail on how to invest in DraftKings Stock please use our How to Invest in DraftKings guide.You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for DraftKings Stock analysis
When running DraftKings' price analysis, check to measure DraftKings' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy DraftKings is operating at the current time. Most of DraftKings' value examination focuses on studying past and present price action to predict the probability of DraftKings' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DraftKings' price. Additionally, you may evaluate how the addition of DraftKings to your portfolios can decrease your overall portfolio volatility.
Money Managers Screen money managers from public funds and ETFs managed around the world | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |
Is DraftKings' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of DraftKings. If investors know DraftKings will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about DraftKings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.16) | Revenue Per Share 8.71 | Quarterly Revenue Growth 0.527 | Return On Assets (0.09) | Return On Equity (0.59) |
The market value of DraftKings is measured differently than its book value, which is the value of DraftKings that is recorded on the company's balance sheet. Investors also form their own opinion of DraftKings' value that differs from its market value or its book value, called intrinsic value, which is DraftKings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because DraftKings' market value can be influenced by many factors that don't directly affect DraftKings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between DraftKings' value and its price as these two are different measures arrived at by different means. Investors typically determine if DraftKings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DraftKings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.