DraftKings Short Long Term Debt Total vs Property Plant Equipment 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 Short Long Term Debt Total and its Property Plant Equipment 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.
Short Long Term Debt Total vs Property Plant Equipment
Short Long Term Debt Total vs Property Plant Equipment Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of DraftKings Short Long Term Debt Total account and Property Plant Equipment. At this time, the significance of the direction appears to have almost identical trend.
The correlation between DraftKings' Short Long Term Debt Total and Property Plant Equipment is 0.93. Overlapping area represents the amount of variation of Short Long Term Debt Total that can explain the historical movement of Property Plant Equipment in the same time period over historical financial statements of DraftKings, assuming nothing else is changed. The correlation between historical values of DraftKings' Short Long Term Debt Total and Property Plant Equipment is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Short Long Term Debt Total of DraftKings are associated (or correlated) with its Property Plant Equipment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Property Plant Equipment has no effect on the direction of Short Long Term Debt Total i.e., DraftKings' Short Long Term Debt Total and Property Plant Equipment go up and down completely randomly.
Correlation Coefficient | 0.93 |
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Short Long Term Debt Total
Property Plant Equipment
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 |
DraftKings Investors Sentiment
The influence of DraftKings' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in DraftKings. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to DraftKings' public news can be used to forecast risks associated with an investment in DraftKings. The trend in average sentiment can be used to explain how an investor holding DraftKings can time the market purely based on public headlines and social activities around DraftKings. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
DraftKings' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for DraftKings' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average DraftKings' news discussions. The higher the estimated score, the more favorable is the investor's outlook on DraftKings.
DraftKings Implied Volatility | 60.01 |
DraftKings' implied volatility exposes the market's sentiment of DraftKings stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if DraftKings' implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that DraftKings stock will not fluctuate a lot when DraftKings' options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards DraftKings in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, DraftKings' short interest history, or implied volatility extrapolated from DraftKings options trading.
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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.
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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.