DKNG vs SGHC: DraftKings and SGHC Limited compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- DraftKings is the larger company, worth $9.7B, about 1.6 times SGHC Limited.
- SGHC Limited grew revenue faster over the last year (+18.2% vs -4.6%).
- On earnings, SGHC Limited is the cheaper stock (24.6x vs 217.3x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DKNG | SGHC |
|---|---|---|
| Market cap | $9.7B | $6.0B |
| Share price | $19.58 | $11.29 |
| Revenue (last fiscal year) | $6.1B | $1.7B |
| Free cash flow (last fiscal year) | $516M | $193M |
| Revenue growth, last year | -4.6% | +18.2% |
| Revenue growth per year, last 5 fiscal years | +47.0% | +16.9% |
| Operating margin | -2.9% | — |
| Net margin | -2.7% | 6.7% |
| Return on equity | -29.3% | 20.3% |
| P/E (trailing) | 217.3x | 24.6x |
| Price / free cash flow | 15.0x | 18.4x |
| EV / EBITDA | 89.5x | 14.0x |
| FCF growth the price implies | 4.2% | — |
| Dividend yield | — | — |
| Debt / equity | 6.51x | 0.89x |
| Fundamental grade | F | C |
| Superinvestors holding it | 5 | 1 |
| Insider purchases, last 12 months | 3 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
DraftKings
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.3B | -$482M | -120.5% |
| 2022 | $2.2B | -$722M | -67.5% |
| 2023 | $3.7B | -$103M | -21.5% |
| 2024 | $4.8B | $312M | -12.8% |
| 2025 | $6.1B | $516M | -0.26% |
SGHC Limited
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $908M | $139M | 13.8% |
| 2021 | $1.3B | $183M | 17.1% |
| 2022 | $1.3B | $139M | 16.8% |
| 2023 | $1.4B | $79M | 1.2% |
| 2024 | $1.7B | $193M | — |
Where the revenue comes from
DraftKings · by products, 2025
Sportsbook$3.8B63%
iGaming$1.8B30%
Other$423M7%
SGHC Limited · by segments, 2025
Betway$1.4B62%
Spin$850M38%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DKNG in InvestinglyQuestions
Which is bigger, DraftKings or SGHC Limited?
DraftKings (DKNG), at $9.7B against $6.0B.
Is DKNG or SGHC cheaper?
By trailing P/E, SGHC Limited (24.6x) is cheaper than DraftKings (217.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, DKNG or SGHC?
SGHC Limited: revenue grew +18.2% over the last year, against -4.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.