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Side-by-side financial comparison of DraftKings Inc. (DKNG) and Falcon's Beyond Global, Inc. (FBYD). Click either name above to swap in a different company.
DraftKings Inc. is the larger business by last-quarter revenue ($2.0B vs $6.6M, roughly 302.1× Falcon's Beyond Global, Inc.). DraftKings Inc. runs the higher net margin — 6.9% vs -4.5%, a 11.4% gap on every dollar of revenue. On growth, Falcon's Beyond Global, Inc. posted the faster year-over-year revenue change (383.5% vs 42.8%). DraftKings Inc. produced more free cash flow last quarter ($316.5M vs $-4.3M). Over the past eight quarters, Falcon's Beyond Global, Inc.'s revenue compounded faster (108.4% CAGR vs 30.1%).
DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.
500 Global is an early-stage venture fund and seed accelerator founded in 2010 by Dave McClure and Christine Tsai. The fund admitted a first "class" of twelve startups to its incubator office in Mountain View, California in February 2011. They expanded to a second class of 21 in June 2011 and a third class of 34 in October 2011. 500 Global has $2.3 billion in assets under management (AUM) as of March 2024.
DKNG vs FBYD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $6.6M |
| Net Profit | $136.4M | $-296.0K |
| Gross Margin | 46.0% | — |
| Operating Margin | 7.6% | -30.9% |
| Net Margin | 6.9% | -4.5% |
| Revenue YoY | 42.8% | 383.5% |
| Net Profit YoY | 201.2% | 97.5% |
| EPS (diluted) | $0.28 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.0B | $6.6M | ||
| Q3 25 | $1.1B | $4.1M | ||
| Q2 25 | $1.5B | $2.5M | ||
| Q1 25 | $1.4B | $1.7M | ||
| Q4 24 | $1.4B | $1.4M | ||
| Q3 24 | $1.1B | $2.1M | ||
| Q2 24 | $1.1B | $1.8M | ||
| Q1 24 | $1.2B | $1.5M |
| Q4 25 | $136.4M | $-296.0K | ||
| Q3 25 | $-256.8M | $-10.4M | ||
| Q2 25 | $157.9M | $25.1M | ||
| Q1 25 | $-33.9M | $-8.1M | ||
| Q4 24 | $-134.9M | $-11.9M | ||
| Q3 24 | $-293.7M | $39.3M | ||
| Q2 24 | $63.8M | $8.0M | ||
| Q1 24 | $-142.6M | $114.0M |
| Q4 25 | 46.0% | — | ||
| Q3 25 | 31.5% | — | ||
| Q2 25 | 43.5% | — | ||
| Q1 25 | 40.1% | — | ||
| Q4 24 | 40.1% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 39.9% | — | ||
| Q1 24 | 39.6% | — |
| Q4 25 | 7.6% | -30.9% | ||
| Q3 25 | -23.8% | -90.9% | ||
| Q2 25 | 10.0% | -53.0% | ||
| Q1 25 | -3.3% | -371.1% | ||
| Q4 24 | -10.0% | -335.6% | ||
| Q3 24 | -27.3% | -118.9% | ||
| Q2 24 | -2.9% | -195.9% | ||
| Q1 24 | -11.8% | -350.5% |
| Q4 25 | 6.9% | -4.5% | ||
| Q3 25 | -22.4% | -256.8% | ||
| Q2 25 | 10.4% | 985.2% | ||
| Q1 25 | -2.4% | -473.8% | ||
| Q4 24 | -9.7% | -871.7% | ||
| Q3 24 | -26.8% | 1899.5% | ||
| Q2 24 | 5.8% | 446.5% | ||
| Q1 24 | -12.1% | 7521.4% |
| Q4 25 | $0.28 | $-0.01 | ||
| Q3 25 | $-0.52 | $-0.13 | ||
| Q2 25 | $0.30 | $0.30 | ||
| Q1 25 | $-0.07 | $-0.13 | ||
| Q4 24 | $-0.25 | $-0.25 | ||
| Q3 24 | $-0.60 | $0.39 | ||
| Q2 24 | $0.10 | $0.00 | ||
| Q1 24 | $-0.30 | $1.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $1.9M |
| Total DebtLower is stronger | — | $15.6M |
| Stockholders' EquityBook value | $631.5M | $11.9M |
| Total Assets | $4.5B | $66.7M |
| Debt / EquityLower = less leverage | — | 1.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $1.9M | ||
| Q3 25 | $1.2B | $4.3M | ||
| Q2 25 | $1.3B | $26.1M | ||
| Q1 25 | $1.1B | $1.1M | ||
| Q4 24 | $788.3M | $825.0K | ||
| Q3 24 | $877.8M | $828.0K | ||
| Q2 24 | $815.9M | $1.7M | ||
| Q1 24 | $1.2B | $1.1M |
| Q4 25 | — | $15.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $41.2M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $15.7M | ||
| Q1 24 | — | $15.1M |
| Q4 25 | $631.5M | $11.9M | ||
| Q3 25 | $732.3M | $9.2M | ||
| Q2 25 | $1.0B | $414.0K | ||
| Q1 25 | $872.9M | $-11.6M | ||
| Q4 24 | $1.0B | $-9.0M | ||
| Q3 24 | $1.1B | $-1.4M | ||
| Q2 24 | $1.3B | $-44.7M | ||
| Q1 24 | $831.0M | $-61.7M |
| Q4 25 | $4.5B | $66.7M | ||
| Q3 25 | $4.6B | $66.8M | ||
| Q2 25 | $4.5B | $89.2M | ||
| Q1 25 | $4.5B | $56.7M | ||
| Q4 24 | $4.3B | $61.2M | ||
| Q3 24 | $4.3B | $66.5M | ||
| Q2 24 | $4.2B | $65.9M | ||
| Q1 24 | $3.8B | $67.8M |
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $320.5M | $-4.3M |
| Free Cash FlowOCF − Capex | $316.5M | $-4.3M |
| FCF MarginFCF / Revenue | 15.9% | -66.0% |
| Capex IntensityCapex / Revenue | 0.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 2.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | $647.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $320.5M | $-4.3M | ||
| Q3 25 | $287.5M | $-13.3M | ||
| Q2 25 | $173.9M | $-7.9M | ||
| Q1 25 | $-119.0M | $945.0K | ||
| Q4 24 | $325.2M | $-3.8M | ||
| Q3 24 | $133.6M | $-2.4M | ||
| Q2 24 | $29.4M | $-2.6M | ||
| Q1 24 | $-70.4M | $-3.8M |
| Q4 25 | $316.5M | $-4.3M | ||
| Q3 25 | $283.0M | $-13.4M | ||
| Q2 25 | $169.6M | — | ||
| Q1 25 | $-121.7M | $853.0K | ||
| Q4 24 | $323.2M | $-3.8M | ||
| Q3 24 | $130.9M | $-2.4M | ||
| Q2 24 | $27.0M | $-2.6M | ||
| Q1 24 | $-73.4M | $-3.8M |
| Q4 25 | 15.9% | -66.0% | ||
| Q3 25 | 24.7% | -329.6% | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | -8.6% | 49.9% | ||
| Q4 24 | 23.2% | -278.7% | ||
| Q3 24 | 11.9% | -114.9% | ||
| Q2 24 | 2.4% | -145.6% | ||
| Q1 24 | -6.2% | -248.8% |
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 0.3% | 0.0% | ||
| Q1 25 | 0.2% | 5.4% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.2% | 0.2% | ||
| Q2 24 | 0.2% | 0.1% | ||
| Q1 24 | 0.3% | 0.3% |
| Q4 25 | 2.35× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.10× | -0.31× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.06× | ||
| Q2 24 | 0.46× | -0.33× | ||
| Q1 24 | — | -0.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DKNG
| Sportsbook | $1.4B | 68% |
| I Gaming | $500.2M | 25% |
| Other | $137.9M | 7% |
FBYD
Segment breakdown not available.
