DoorDash, Inc. (DASH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.47	$0.46	-2.1%	—	$4.5B	—
Q1 26	$1.06	$1.14	+7.5%	—	$4B	—
Q4 25	$0.58	$0.48	-17.2%	—	$4B	—
Q3 25	$0.68	$0.55	-19.1%	—	$3.4B	—
Q2 25	$0.43	$0.65	+51.2%	—	$3.3B	—
Q1 25	$0.38	$0.44	+15.8%	—	$3B	—
Q4 24	$0.33	$0.33	0.0%	—	$2.9B	—
Q3 24	$0.21	$0.38	+81.0%	—	$2.7B	—
Q2 24	$0.61	$0.81	+32.8%	—	$2.6B	—
Q1 24	$0.57	$0.66	+15.8%	—	$2.5B	—
Q4 23	-$0.13	-$0.39	-200.0%	—	$2.3B	—
Q3 23	-$0.4	-$0.19	+52.5%	—	$2.2B	—
Q2 23	-$0.41	-$0.44	-7.3%	—	$2.1B	—
Q1 23	-$0.58	-$0.41	+29.3%	—	$2B	—
Q4 22	-$0.68	-$1.65	-142.6%	—	$1.8B	—
Q3 22	-$0.6	-$0.77	-28.3%	—	$1.7B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.19	—	—	$13.7B	—
FY24	—	$0.3	—	—	$10.7B	—
FY23	—	-$1.42	—	—	$8.6B	—
FY22	—	-$3.68	—	—	$6.6B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$291M	$885M	$2.9B	$4.9B	$6.6B	$8.6B	$10.7B	$13.7B
YoY change	—	+204.1%	+226.1%	+69.4%	+34.7%	+31.2%	+24.2%	+27.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	291M	885M	2.9B	4.9B	6.6B	8.6B	10.7B	13.7B
Cost of revenue	228M	523M	1.4B	2.3B	3.6B	4.6B	5.5B	6.7B
Gross profit	63M	362M	1.5B	2.5B	3B	4B	5.2B	7B
Gross margin	21.6%	40.9%	52.6%	52.2%	45.5%	46.9%	48.3%	50.9%
Research & development	51M	107M	321M	430M	829M	1B	1.2B	1.4B
Selling, general & administrative	213M	839M	1.5B	2.4B	2.8B	3.1B	3.5B	4.1B
Operating expenses	264M	946M	1.8B	2.8B	3.7B	4.1B	4.7B	5.5B
Operating income	-210M	-616M	-436M	-452M	-1B	-577M	-38M	725M
Operating margin	-72.2%	-69.6%	-15.1%	-9.25%	-15.7%	-6.68%	-0.35%	5.29%
Non-operating income, net	—	-68M	3M	—	-397M	-109M	-5M	3M
Pretax income	-204M	-666M	-458M	-463M	-1.4B	-534M	156M	939M
Income tax	0	1M	3M	5M	-31M	31M	39M	7M
Net income	-204M	-667M	-461M	-468M	-1.4B	-565M	117M	932M
Net margin	-70.1%	-75.4%	-16%	-9.57%	-20.8%	-6.54%	1.09%	6.79%
EBITDA	-194M	-634M	-306M	-296M	-571M	-66M	523M	1.5B
EPS	-0.73	-2.36	-7.39	-1.39	-3.68	-1.42	0.3	2.19
Diluted EPS	-0.73	-2.36	-7.39	-1.39	-3.68	-1.42	0.3	2.13

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.2B	2.3B	2.5B	2.6B	2.7B	2.9B	3B	3.3B	3.4B	4B	4B	4.5B
Cost of revenue	1.2B	1.2B	1.3B	1.4B	1.4B	1.5B	1.5B	1.6B	1.7B	1.9B	2B	2.1B
Gross profit	1B	1.1B	1.2B	1.2B	1.3B	1.4B	1.5B	1.7B	1.8B	2B	2B	2.3B
Gross margin	46.6%	46.6%	47.1%	47.3%	49.2%	49.4%	50.5%	50.8%	51%	51.1%	50.6%	52.7%
Research & development	250M	253M	279M	303M	289M	297M	306M	351M	355M	419M	398M	535M
Selling, general & administrative	738M	780M	823M	1B	798M	865M	918M	995M	976M	1.2B	1.2B	1.4B
Operating expenses	988M	1B	1.1B	1.3B	1.1B	1.2B	1.2B	1.3B	1.3B	1.6B	1.6B	1.9B
Operating income	-108M	-89M	-61M	-201M	107M	117M	156M	163M	259M	147M	199M	158M
Operating margin	-4.99%	-3.86%	-2.43%	-7.64%	3.95%	4.07%	5.15%	4.96%	7.52%	3.72%	4.93%	3.55%
Non-operating income, net	-1M	-101M	-2M	-5M	-6M	8M	-7M	59M	-82M	33M	-42M	14M
Pretax income	-69M	-139M	-18M	-157M	155M	176M	198M	271M	248M	222M	191M	207M
Income tax	6M	17M	7M	1M	-6M	37M	6M	-13M	5M	9M	8M	8M
Net income	-75M	-156M	-25M	-158M	161M	139M	192M	284M	243M	213M	183M	199M
Net margin	-3.47%	-6.77%	-0.99%	-6.01%	5.95%	4.84%	6.33%	8.65%	7.05%	5.39%	4.53%	4.47%
EBITDA	20M	41M	81M	-61M	245M	258M	309M	322M	429M	414M	516M	455M
EPS	-0.19	-0.39	-0.06	-0.38	0.38	0.34	0.46	0.67	0.57	0.49	0.42	0.46
Diluted EPS	-0.19	-0.39	-0.06	-0.38	0.38	0.34	0.44	0.65	0.55	0.48	0.42	0.46

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	38.9B	69B	96.7B	77.3B
Enterprise value	—	—	—	—	—	35.3B	64.2B	94.5B	81.8B
Shares outstanding	283.1M	283.1M	62.4M	336.8M	371.4M	392.9M	411.6M	427M	427M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	590.1	103.8	94.4
P/S	—	—	—	—	—	4.5	6.44	7.05	4.92
P/B	—	—	—	—	—	5.7	8.84	9.63	7.88
EV/EBITDA	—	—	—	—	—	-534.9	122.8	64.1	56.9
EV/Sales	—	—	—	—	—	4.09	5.99	6.89	5.14
Earnings yield	—	—	—	—	—	—	0.17%	0.96%	1.06%
FCF yield	—	—	—	—	—	3.47%	2.61%	1.89%	6.66%
PEG	—	—	—	—	—	—	—	—	-3.01

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	21.6%	40.9%	52.6%	52.2%	45.5%	46.9%	48.3%	50.9%	52.7%
Operating margin	-72.2%	-69.6%	-15.1%	-9.25%	-15.7%	-6.68%	-0.35%	5.29%	3.86%
Net margin	-70.1%	-75.4%	-16%	-9.57%	-20.8%	-6.54%	1.09%	6.79%	5.29%
ROE	-37.2%	-56.4%	-9.81%	-10%	-20.2%	-8.29%	1.5%	9.28%	8.89%
ROA	-29.9%	-38.5%	-7.26%	-6.87%	-14%	-5.21%	0.91%	4.74%	2.97%
ROIC	-265.8%	-102.5%	-95.2%	-34.5%	-27.5%	-17.7%	-0.95%	9.19%	9.34%
Return on tangible assets	-29.9%	-73%	-8.27%	-7.73%	-38.9%	-12.1%	1.63%	22.7%	18.4%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	5.17	2.61	3.94	2.59	1.86	1.64	1.66	1.41	1.37
Quick ratio	5.17	2.61	3.94	2.59	1.86	1.64	1.66	1.41	1.37
Debt / equity	0	0.16	0.13	0.09	0.08	0.08	0.07	0.33	0.33
Debt / assets	0	0.11	0.1	0.06	0.05	0.05	0.04	0.17	0.17
Net debt / EBITDA	2.42	0.92	13.9	11.3	5.27	53.9	-9.19	-1.5	-1.13
Interest coverage	-203	—	-13.3	-32.3	-516	—	—	—	—
Effective tax rate	0%	0%	0%	0%	0%	0%	25%	0.75%	3.46%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.03	3.13	46.3	14.5	17.7	22	26.1	32.1	36.7
EPS (basic)	-0.73	-2.36	-7.39	-1.39	-3.68	-1.42	0.3	2.19	2.19
EPS (diluted)	-0.73	-2.36	-7.39	-1.39	-3.68	-1.42	0.3	2.13	1.91
Book value per share	1.94	4.17	75.3	13.9	18.2	17.3	19	23.5	22.9
FCF per share	-0.62	-1.97	1.49	1.35	0.06	3.43	4.38	4.28	4.87
Cash per share	1.66	2.7	77.9	11.2	9.48	10.4	13	12.9	12.3
Capex per share	0.05	0.28	1.7	0.38	0.47	0.31	0.25	0.81	1.04

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.47%	8.81%	3.67%	2.64%	2.67%	1.42%	0.97%	2.54%	2.87%
Capex / operating cash flow	-7.34%	-10.8%	-35.9%	-322.5%	-42.1%	14.2%	9.08%	14.3%	16.1%
Payout ratio	—	—	—	—	—	—	—	—	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	470M	765M	4.9B	3.8B	3.5B	4.1B	5.3B	5.5B
Receivables	19M	58M	291M	349M	400M	533M	732M	1.1B
Inventory	—	—	—	—	—	—	—	—
Total current assets	569M	998M	5.5B	4.6B	4.7B	5.6B	7.4B	8.6B
Property, plant & equipment	21M	267M	413M	738M	1.1B	1.1B	1.2B	1.5B
Goodwill & intangibles	0	818M	780M	754M	6.3B	6.2B	5.7B	15.6B
Total assets	683M	1.7B	6.4B	6.8B	9.8B	10.8B	12.8B	19.7B
Accounts payable	35M	20M	80M	161M	157M	216M	321M	397M
Short-term debt	—	17M	379M	26M	55M	68M	68M	105M
Total current liabilities	110M	382M	1.4B	1.8B	2.5B	3.4B	4.4B	6.1B
Long-term debt	0	167M	238M	373M	456M	454M	468M	3.2B
Total liabilities	134M	550M	1.7B	2.1B	3B	4B	5B	9.6B
Shareholders' equity	549M	1.2B	4.7B	4.7B	6.8B	6.8B	7.8B	10B
Total debt	0	184M	617M	399M	511M	522M	536M	3.3B
Net debt	-215M	-73M	-3.7B	-2.1B	-1.5B	-2.1B	-3.5B	-1.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.8B	4.1B	4.5B	4.9B	5B	5.3B	5.8B	5B	4.2B	5.5B	5.5B	5.3B
Receivables	417M	533M	546M	585M	622M	732M	782M	840M	894M	1.1B	1B	1.1B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	5.1B	5.6B	6.1B	6.6B	6.8B	7.4B	7.9B	9.7B	10.5B	8.6B	8.6B	8.4B
Property, plant & equipment	1.1B	1.1B	1.2B	1.1B	1.1B	1.2B	1.2B	1.3B	1.4B	1.5B	1.6B	1.7B
Goodwill & intangibles	6B	6.2B	6B	5.9B	6.1B	5.7B	5.8B	8.8B	8.9B	15.6B	15.2B	15B
Total assets	10B	10.8B	11.4B	11.8B	12.3B	12.8B	13.6B	16.9B	18B	19.7B	19.7B	19.6B
Accounts payable	149M	216M	203M	163M	191M	321M	329M	345M	257M	397M	268M	301M
Short-term debt	63M	68M	64M	64M	66M	68M	70M	78M	81M	105M	105M	104M
Total current liabilities	3B	3.4B	3.7B	4B	4.1B	4.4B	4.6B	4.7B	5.1B	6.1B	6B	6.2B
Long-term debt	430M	454M	483M	470M	466M	468M	457M	3.2B	3.2B	3.2B	3.2B	3.2B
Total liabilities	3.4B	4B	4.4B	4.7B	4.7B	5B	5.2B	8B	8.5B	9.6B	9.5B	9.6B
Shareholders' equity	6.6B	6.8B	7B	7.2B	7.6B	7.8B	8.4B	8.9B	9.5B	10B	10.2B	9.9B
Total debt	493M	522M	547M	534M	532M	536M	527M	3.3B	3.3B	3.3B	3.3B	3.3B
Net debt	-1.9B	-2.1B	-2.6B	-2.9B	-3.1B	-3.5B	-4B	-660M	-22M	-1.1B	-1.3B	-1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-204M	-667M	-461M	-468M	-1.4B	-565M	117M	932M
Depreciation & amortization	9M	32M	120M	156M	369M	509M	561M	747M
Stock-based compensation	24M	18M	322M	486M	889M	1.1B	1.1B	1.1B
Change in working capital	-6M	-103M	-299M	-245M	-253M	-67M	-545M	-730M
Operating cash flow	-177M	-723M	-295M	-40M	-418M	867M	1.1B	2.4B
Capital expenditure	-13M	-78M	-106M	-129M	-176M	-123M	-104M	-348M
Investing cash flow	-354M	-556M	-139M	-1.9B	-130M	-141M	-218M	-4.1B
Dividends paid	—	—	—	—	—	—	—	—
Share repurchases	-60M	0	0	0	-400M	-750M	-224M	0
Financing cash flow	661M	1.1B	4B	-515M	-386M	-758M	-218M	2B
Net change in cash	130M	-173M	3.6B	-2.5B	-934M	-32M	709M	307M
Free cash flow	-175M	-559M	93M	455M	21M	1.3B	1.8B	1.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-75M	-156M	-25M	-158M	161M	139M	192M	284M	243M	213M	183M	199M
Depreciation & amortization	128M	130M	142M	140M	138M	141M	152M	159M	169M	267M	269M	295M
Stock-based compensation	278M	269M	252M	302M	274M	271M	235M	282M	258M	276M	231M	349M
Change in working capital	-163M	-62M	-113M	-88M	282M	-545M	-54M	-126M	-200M	-350M	-168M	-45M
Operating cash flow	143M	148M	243M	169M	840M	-107M	543M	504M	871M	421M	594M	944M
Capital expenditure	-28M	-29M	-17M	-23M	-32M	-32M	-74M	-83M	-85M	-113M	-117M	-141M
Investing cash flow	-32M	-61M	-23M	-91M	-7M	-97M	-93M	-875M	-110M	-3.1B	-41M	-127M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-6M	-51M	0	-7M	-217M	0	—	0	0	0	-162M	-887M
Financing cash flow	-6M	-51M	6M	-7M	-217M	0	—	0	-2M	-20M	-174M	-897M
Net change in cash	105M	36M	226M	71M	616M	-204M	450M	-371M	759M	-2.7B	379M	-80M
Free cash flow	324M	398M	487M	451M	444M	420M	494M	355M	723M	254M	420M	742M

DoorDash, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement