vs
DraftKings Inc.（DKNG）与范尔度假村（MTN）财务数据对比。点击上方公司名可切换其他公司
DraftKings Inc.的季度营收约是范尔度假村的7.3倍（$2.0B vs $271.0M）。DraftKings Inc.净利率更高（6.9% vs -68.9%，领先75.8%）。DraftKings Inc.同比增速更快（42.8% vs 4.1%）。DraftKings Inc.自由现金流更多（$316.5M vs $244.3M）。过去两年DraftKings Inc.的营收复合增速更高（30.1% vs -49.9%）
DraftKings Inc.是总部位于美国马萨诸塞州波士顿的博彩企业，主要提供体育博彩、每日范特西体育相关服务，是全球线上博彩娱乐赛道的知名企业，业务覆盖多个国家和地区的合规消费市场。
范尔度假村是美国知名山地度假集团，总部位于科罗拉多州布鲁姆菲尔德。集团旗下在全球4个国家运营42家山地度假村，同时持有并运营酒店、民宿、公寓及高尔夫球场等各类度假不动产，为全球游客提供高品质的山地休闲与旅居服务。
DKNG vs MTN — 直观对比
营收规模更大
DKNG
是对方的7.3倍
$271.0M
营收增速更快
DKNG
高出38.7%
4.1%
净利率更高
DKNG
高出75.8%
-68.9%
自由现金流更多
DKNG
多$72.2M
$244.3M
两年增速更快
DKNG
近两年复合增速
-49.9%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $271.0M |
| 净利润 | $136.4M | $-186.8M |
| 毛利率 | 46.0% | — |
| 营业利润率 | 7.6% | -77.4% |
| 净利率 | 6.9% | -68.9% |
| 营收同比 | 42.8% | 4.1% |
| 净利润同比 | 201.2% | -8.1% |
| 每股收益（稀释后） | $0.28 | $-5.20 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DKNGMTN
| Q4 25 | $2.0B | $271.0M | ||
| Q3 25 | $1.1B | $271.3M | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $260.3M | ||
| Q3 24 | $1.1B | $265.4M | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.2B | $1.1B |
净利润DKNGMTN
| Q4 25 | $136.4M | $-186.8M | ||
| Q3 25 | $-256.8M | $-185.5M | ||
| Q2 25 | $157.9M | $392.8M | ||
| Q1 25 | $-33.9M | $245.5M | ||
| Q4 24 | $-134.9M | $-172.8M | ||
| Q3 24 | $-293.7M | $-175.4M | ||
| Q2 24 | $63.8M | $362.0M | ||
| Q1 24 | $-142.6M | $219.3M |
毛利率DKNGMTN
| 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% | — |
营业利润率DKNGMTN
| Q4 25 | 7.6% | -77.4% | ||
| Q3 25 | -23.8% | -75.1% | ||
| Q2 25 | 10.0% | 44.9% | ||
| Q1 25 | -3.3% | 33.8% | ||
| Q4 24 | -10.0% | -77.6% | ||
| Q3 24 | -27.3% | -74.9% | ||
| Q2 24 | -2.9% | 42.6% | ||
| Q1 24 | -11.8% | 32.5% |
净利率DKNGMTN
| Q4 25 | 6.9% | -68.9% | ||
| Q3 25 | -22.4% | -68.4% | ||
| Q2 25 | 10.4% | 30.3% | ||
| Q1 25 | -2.4% | 21.6% | ||
| Q4 24 | -9.7% | -66.4% | ||
| Q3 24 | -26.8% | -66.1% | ||
| Q2 24 | 5.8% | 28.2% | ||
| Q1 24 | -12.1% | 20.3% |
每股收益（稀释后）DKNGMTN
| Q4 25 | $0.28 | $-5.20 | ||
| Q3 25 | $-0.52 | $-4.96 | ||
| Q2 25 | $0.30 | $10.54 | ||
| Q1 25 | $-0.07 | $6.56 | ||
| Q4 24 | $-0.25 | $-4.61 | ||
| Q3 24 | $-0.60 | $-4.63 | ||
| Q2 24 | $0.10 | $9.54 | ||
| Q1 24 | $-0.30 | $5.76 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.1B | $581.5M |
| 总债务越低越好 | — | $2.6B |
| 股东权益账面价值 | $631.5M | $156.5M |
| 总资产 | $4.5B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 16.51× |
8季度趋势，按日历期对齐
现金及短期投资DKNGMTN
| Q4 25 | $1.1B | $581.5M | ||
| Q3 25 | $1.2B | $440.3M | ||
| Q2 25 | $1.3B | $467.0M | ||
| Q1 25 | $1.1B | $488.2M | ||
| Q4 24 | $788.3M | $403.8M | ||
| Q3 24 | $877.8M | $322.8M | ||
| Q2 24 | $815.9M | $705.4M | ||
| Q1 24 | $1.2B | $812.2M |
总债务DKNGMTN
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益DKNGMTN
| Q4 25 | $631.5M | $156.5M | ||
| Q3 25 | $732.3M | $424.5M | ||
| Q2 25 | $1.0B | $895.4M | ||
| Q1 25 | $872.9M | $530.7M | ||
| Q4 24 | $1.0B | $444.1M | ||
| Q3 24 | $1.1B | $723.5M | ||
| Q2 24 | $1.3B | $1.0B | ||
| Q1 24 | $831.0M | $829.9M |
总资产DKNGMTN
| Q4 25 | $4.5B | $5.8B | ||
| Q3 25 | $4.6B | $5.8B | ||
| Q2 25 | $4.5B | $5.8B | ||
| Q1 25 | $4.5B | $5.5B | ||
| Q4 24 | $4.3B | $5.6B | ||
| Q3 24 | $4.3B | $5.7B | ||
| Q2 24 | $4.2B | $5.8B | ||
| Q1 24 | $3.8B | $5.8B |
负债/权益比DKNGMTN
| Q4 25 | — | 16.51× | ||
| Q3 25 | — | 6.11× | ||
| Q2 25 | — | 2.35× | ||
| Q1 25 | — | 3.99× | ||
| Q4 24 | — | 6.10× | ||
| Q3 24 | — | 3.76× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | — | 3.28× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $320.5M | $315.9M |
| 自由现金流经营现金流 - 资本支出 | $316.5M | $244.3M |
| 自由现金流率自由现金流/营收 | 15.9% | 90.1% |
| 资本支出强度资本支出/营收 | 0.2% | 26.4% |
| 现金转化率经营现金流/净利润 | 2.35× | — |
| 过去12个月自由现金流最近4个季度 | $647.5M | $352.5M |
8季度趋势，按日历期对齐
经营现金流DKNGMTN
| Q4 25 | $320.5M | $315.9M | ||
| Q3 25 | $287.5M | $-171.6M | ||
| Q2 25 | $173.9M | $117.7M | ||
| Q1 25 | $-119.0M | $326.3M | ||
| Q4 24 | $325.2M | $282.4M | ||
| Q3 24 | $133.6M | $-94.2M | ||
| Q2 24 | $29.4M | $109.9M | ||
| Q1 24 | $-70.4M | $242.7M |
自由现金流DKNGMTN
| Q4 25 | $316.5M | $244.3M | ||
| Q3 25 | $283.0M | $-227.5M | ||
| Q2 25 | $169.6M | $84.5M | ||
| Q1 25 | $-121.7M | $251.2M | ||
| Q4 24 | $323.2M | $211.4M | ||
| Q3 24 | $130.9M | $-150.3M | ||
| Q2 24 | $27.0M | $85.0M | ||
| Q1 24 | $-73.4M | $165.8M |
自由现金流率DKNGMTN
| Q4 25 | 15.9% | 90.1% | ||
| Q3 25 | 24.7% | -83.9% | ||
| Q2 25 | 11.2% | 6.5% | ||
| Q1 25 | -8.6% | 22.1% | ||
| Q4 24 | 23.2% | 81.2% | ||
| Q3 24 | 11.9% | -56.6% | ||
| Q2 24 | 2.4% | 6.6% | ||
| Q1 24 | -6.2% | 15.4% |
资本支出强度DKNGMTN
| Q4 25 | 0.2% | 26.4% | ||
| Q3 25 | 0.4% | 20.6% | ||
| Q2 25 | 0.3% | 2.6% | ||
| Q1 25 | 0.2% | 6.6% | ||
| Q4 24 | 0.1% | 27.3% | ||
| Q3 24 | 0.2% | 21.1% | ||
| Q2 24 | 0.2% | 1.9% | ||
| Q1 24 | 0.3% | 7.1% |
现金转化率DKNGMTN
| Q4 25 | 2.35× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.10× | 0.30× | ||
| Q1 25 | — | 1.33× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.46× | 0.30× | ||
| Q1 24 | — | 1.11× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DKNG
| Sportsbook | $1.4B | 68% |
| I Gaming | $500.2M | 25% |
| Other | $137.9M | 7% |
MTN
| Dining | $84.6M | 31% |
| Lodgingrevenueexcludingpayrollcostreimbursements | $67.2M | 25% |
| Other Mountain Revenue | $55.1M | 20% |
| Managedcondominiumrooms | $26.1M | 10% |
| Owned Hotel Revenue | $12.7M | 5% |
| Other Lodging Revenue | $10.2M | 4% |
| Other | $5.9M | 2% |
| Transportation | $4.8M | 2% |
| Payrollcostreimbursements | $4.4M | 2% |
