DKNG vs WMG
DraftKings Inc. and Warner Music Group Corp., side by side — 6 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DKNG | WMG |
|---|---|---|
| Revenue | $6.1B | $6.7B |
| Net income | $3.7M | $365.0M |
| Gross margin | 41.3% | 45.8% |
| Net margin | 0.1% | 5.4% |
| Return on equity | 0.5% | 62.7% |
| Diluted EPS | $0.01 | · |
| Dividend / share | · | $0.73 |
| Payout ratio | · | 104.9% |
| Free cash flow | $647.5M | $539.0M |
| Equity | $631.5M | $647.0M |
| Net debt / equity | · | 5.46× |
| Current ratio | 1.03× | 0.66× |
| Revenue CAGR 5y | 58.0% | 8.5% |
| Profit CAGR 5y | · | · |
DKNG and WMG book revenue within 15% of each other, and WMG keeps more of each dollar of revenue as profit (5.4% against 0.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
6 years side by side
| Fiscal year | DKNG | WMG |
|---|---|---|
| FY2025 | $6.1B | $6.7B |
| FY2024 | $4.8B | $6.4B |
| FY2023 | $3.7B | $6.0B |
| FY2022 | $2.2B | $5.9B |
| FY2021 | $1.3B | $5.3B |
| FY2020 | $614.5M | $4.5B |
Bottom line
| Fiscal year | DKNG | WMG |
|---|---|---|
| FY2025 | $3.7M | $365.0M |
| FY2024 | $-507.3M | $435.0M |
| FY2023 | $-802.1M | $430.0M |
| FY2022 | $-1.4B | $551.0M |
| FY2021 | $-1.5B | $304.0M |
| FY2020 | $-1.2B | $-475.0M |
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$652,475,000 | WMG |
| FY2024 | −$1,658,301,000 | WMG |
| FY2023 | −$2,371,607,000 | WMG |
| FY2022 | −$3,678,539,000 | WMG |
| FY2021 | −$4,004,975,000 | WMG |
| FY2020 | −$3,848,468,000 | WMG |
WMG has reported the higher revenue in every one of these 6 fiscal years. The gap has narrowed since the earliest year compared.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
6 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −5.4 pp | WMG |
| FY2024 | −17.4 pp | WMG |
| FY2023 | −29.0 pp | WMG |
| FY2022 | −70.8 pp | WMG |
| FY2021 | −123.3 pp | WMG |
| FY2020 | −189.8 pp | WMG |
WMG has kept the higher net margin in every one of these 6 fiscal years.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DKNG's net margin has been more volatile than WMG's over the 6 comparable fiscal years — 70.8 percentage points of standard deviation against 6.6.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
WMG led in net margin in every one of the 6 comparable fiscal years — a structural lead, not a recent swing.
6 of 15 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WMG's return on equity has been more volatile than DKNG's over the 4 comparable fiscal years — 214.2 percentage points of standard deviation against 34.6.
4 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
WMG led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 11 comparable fiscal years — a year missing data on either side is not counted.