DRAFTKINGS INC. vs SPHERE ENTERTAINMENT CO., two Entertainment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
DraftKings runs online sports betting; Sphere Entertainment runs the Las Vegas Sphere venue and MSG Networks. Both are still proving out their economics. Sphere earns a thin but positive 5.33% on equity and a 9.04% net margin, while DraftKings sits near breakeven as it scales. On cash they are close, a 5.43% free cash yield at DraftKings against 6.13% at Sphere. DraftKings earns 9.69% on equity. Sphere is lightly levered at 0.36 times equity. By size the two are near each other, $13.1 billion and $6.1 billion. A digital betting platform against a single-venue physical spectacle, both early in their profit stories.
Comparison updated 2026-07-11.
| Metric | DKNG | SPHR |
|---|---|---|
| Price | $26.48 | $148.34 |
| Market cap | $13.5B | $5.3B |
| Sector | Entertainment | Entertainment |
| Stage | Growth | Mature |
| Implied growth (priced in) | +21.5% | — |
| P/E | — | 50.0 |
| P/B | 22.35 | 2.37 |
| P/S | 2.15 | 4.01 |
| EV/EBITDA | 344.4 | 28.6 |
| Revenue growth | +25.3% | +10.9% |
| Operating margin | 0.4% | 1.9% |
| Net margin | 0.9% | 9.0% |
| Return on equity | 9.7% | 5.3% |
| Return on assets | 1.4% | 2.8% |
| Return on invested capital | 4.8% | -3.7% |
| FCF yield | 5.3% | 7.0% |
| Debt / equity | 0.00 | 0.36 |
| Current ratio | 1.02 | 1.22 |
| Altman Z (solvency) | 1.58 | 1.92 |
| Piotroski F (quality) | 4 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.