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Side-by-side financial comparison of DraftKings Inc. (DKNG) and RXO, Inc. (RXO). Click either name above to swap in a different company.
DraftKings Inc. is the larger business by last-quarter revenue ($2.0B vs $1.5B, roughly 1.4× RXO, Inc.). DraftKings Inc. runs the higher net margin — 6.9% vs -3.1%, a 10.0% gap on every dollar of revenue. On growth, DraftKings Inc. posted the faster year-over-year revenue change (42.8% vs -11.9%). DraftKings Inc. produced more free cash flow last quarter ($316.5M vs $-9.0M). Over the past eight quarters, DraftKings Inc.'s revenue compounded faster (30.1% CAGR vs 26.8%).
DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
DKNG vs RXO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.5B |
| Net Profit | $136.4M | $-46.0M |
| Gross Margin | 46.0% | — |
| Operating Margin | 7.6% | -2.9% |
| Net Margin | 6.9% | -3.1% |
| Revenue YoY | 42.8% | -11.9% |
| Net Profit YoY | 201.2% | -84.0% |
| EPS (diluted) | $0.28 | $-0.28 |
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 | $1.5B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $930.0M | ||
| Q1 24 | $1.2B | $913.0M |
| Q4 25 | $136.4M | $-46.0M | ||
| Q3 25 | $-256.8M | $-14.0M | ||
| Q2 25 | $157.9M | $-9.0M | ||
| Q1 25 | $-33.9M | $-31.0M | ||
| Q4 24 | $-134.9M | $-25.0M | ||
| Q3 24 | $-293.7M | $-243.0M | ||
| Q2 24 | $63.8M | $-7.0M | ||
| Q1 24 | $-142.6M | $-15.0M |
| 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% | -2.9% | ||
| Q3 25 | -23.8% | -0.5% | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | -3.3% | -2.1% | ||
| Q4 24 | -10.0% | -1.4% | ||
| Q3 24 | -27.3% | -1.9% | ||
| Q2 24 | -2.9% | — | ||
| Q1 24 | -11.8% | -1.3% |
| Q4 25 | 6.9% | -3.1% | ||
| Q3 25 | -22.4% | -1.0% | ||
| Q2 25 | 10.4% | -0.6% | ||
| Q1 25 | -2.4% | -2.2% | ||
| Q4 24 | -9.7% | -1.5% | ||
| Q3 24 | -26.8% | -23.4% | ||
| Q2 24 | 5.8% | -0.8% | ||
| Q1 24 | -12.1% | -1.6% |
| Q4 25 | $0.28 | $-0.28 | ||
| Q3 25 | $-0.52 | $-0.08 | ||
| Q2 25 | $0.30 | $-0.05 | ||
| Q1 25 | $-0.07 | $-0.18 | ||
| Q4 24 | $-0.25 | $-0.17 | ||
| Q3 24 | $-0.60 | $-1.81 | ||
| Q2 24 | $0.10 | $-0.06 | ||
| Q1 24 | $-0.30 | $-0.13 |
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 | $17.0M |
| Total DebtLower is stronger | — | $387.0M |
| Stockholders' EquityBook value | $631.5M | $1.5B |
| Total Assets | $4.5B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $17.0M | ||
| Q3 25 | $1.2B | $25.0M | ||
| Q2 25 | $1.3B | $18.0M | ||
| Q1 25 | $1.1B | $16.0M | ||
| Q4 24 | $788.3M | $35.0M | ||
| Q3 24 | $877.8M | $55.0M | ||
| Q2 24 | $815.9M | $7.0M | ||
| Q1 24 | $1.2B | $7.0M |
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
| Q4 25 | $631.5M | $1.5B | ||
| Q3 25 | $732.3M | $1.6B | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $872.9M | $1.6B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.3B | $579.0M | ||
| Q1 24 | $831.0M | $582.0M |
| Q4 25 | $4.5B | $3.3B | ||
| Q3 25 | $4.6B | $3.2B | ||
| Q2 25 | $4.5B | $3.2B | ||
| Q1 25 | $4.5B | $3.3B | ||
| Q4 24 | $4.3B | $3.4B | ||
| Q3 24 | $4.3B | $3.4B | ||
| Q2 24 | $4.2B | $1.8B | ||
| Q1 24 | $3.8B | $1.8B |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| Free Cash FlowOCF − Capex | $316.5M | $-9.0M |
| FCF MarginFCF / Revenue | 15.9% | -0.6% |
| Capex IntensityCapex / Revenue | 0.2% | 1.1% |
| Cash ConversionOCF / Net Profit | 2.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | $647.5M | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $320.5M | $7.0M | ||
| Q3 25 | $287.5M | $23.0M | ||
| Q2 25 | $173.9M | $23.0M | ||
| Q1 25 | $-119.0M | $-2.0M | ||
| Q4 24 | $325.2M | $-7.0M | ||
| Q3 24 | $133.6M | $-7.0M | ||
| Q2 24 | $29.4M | $-5.0M | ||
| Q1 24 | $-70.4M | $7.0M |
| Q4 25 | $316.5M | $-9.0M | ||
| Q3 25 | $283.0M | $9.0M | ||
| Q2 25 | $169.6M | $9.0M | ||
| Q1 25 | $-121.7M | $-17.0M | ||
| Q4 24 | $323.2M | $-19.0M | ||
| Q3 24 | $130.9M | $-18.0M | ||
| Q2 24 | $27.0M | $-16.0M | ||
| Q1 24 | $-73.4M | $-4.0M |
| Q4 25 | 15.9% | -0.6% | ||
| Q3 25 | 24.7% | 0.6% | ||
| Q2 25 | 11.2% | 0.6% | ||
| Q1 25 | -8.6% | -1.2% | ||
| Q4 24 | 23.2% | -1.1% | ||
| Q3 24 | 11.9% | -1.7% | ||
| Q2 24 | 2.4% | -1.7% | ||
| Q1 24 | -6.2% | -0.4% |
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 0.3% | 1.0% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.1% | 0.7% | ||
| Q3 24 | 0.2% | 1.1% | ||
| Q2 24 | 0.2% | 1.2% | ||
| Q1 24 | 0.3% | 1.2% |
| Q4 25 | 2.35× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | — | — |
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
