DRAFTKINGS INC. vs Spotify Technology S.A., two Entertainment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
DraftKings and Spotify are both scaled digital platforms, one for sports betting, one for music streaming, but they sit at different points on the profit curve. Spotify has crossed into steady earnings, a 12.87% net margin and a 26.56% return on equity, while DraftKings is near breakeven and spending to grow, earning 9.69% on equity. Neither carries meaningful debt, Spotify essentially none. Cash conversion is close, a 5.43% free cash yield at DraftKings against 3.3% at Spotify. Spotify is the larger by far at $94.5 billion to DraftKings' $13.1 billion. Spotify is the proven streaming annuity, DraftKings the betting platform still scaling.
Comparison updated 2026-07-11.
| Metric | DKNG | SPOT |
|---|---|---|
| Price | $26.48 | $479.98 |
| Market cap | $13.5B | $98.6B |
| Sector | Entertainment | Entertainment |
| Stage | Growth | Growth |
| Implied growth (priced in) | +21.5% | — |
| P/E | — | 41.0 |
| P/B | 22.35 | 10.89 |
| P/S | 2.15 | 5.28 |
| EV/EBITDA | 344.4 | 38.9 |
| Revenue growth | +25.3% | +15.6% |
| Gross margin | — | 32.0% |
| Operating margin | 0.4% | 12.8% |
| Net margin | 0.9% | 12.9% |
| Return on equity | 9.7% | 26.6% |
| Return on assets | 1.4% | 14.7% |
| Return on invested capital | 4.8% | 26.3% |
| FCF yield | 5.3% | 3.2% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 1.02 | 1.72 |
| Altman Z (solvency) | 1.58 | 7.90 |
| Piotroski F (quality) | 4 / 9 | 6 / 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.