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Friday 6 November 2026
Export DASH’s income statement to Excel — free account
DoorDash, Inc.
DASH Consumer Cyclical Internet Retail
DoorDash, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $13.7 billion, up 27.9% from fiscal 2024.
- Revenue
- +34.0%
- EPS
- +87.7%
- Free cash flow
- +8.85%
- Total debt
- +0.22%
Quarter to September 2026, against a year earlier
180.98
17.61
−8.87%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 291 | 885 | 2,886 | 4,888 | 6,583 | 8,635 | 10,722 | 13,717 | 17,061 | +73.4% | 17,942 | 21,688 | 25,762 | +23.4% | |
| Gross margin, % | — | — | 21.65 | 40.90 | 52.60 | 52.17 | 45.50 | 46.86 | 48.31 | 50.88 | 51.91 | +29.2 pt | ||||||
| EBT | — | — | (204) | (666) | (458) | (463) | (1,399) | (534) | 156 | 939 | 1,104 | n/m | ||||||
| EBT margin, % | — | — | (70.10) | (75.25) | (15.87) | (9.47) | (21.25) | (6.18) | 1.45 | 6.85 | 6.47 | +77.0 pt | ||||||
| Net income | — | 0 | (204) | (667) | (461) | (468) | (1,368) | (565) | 117 | 932 | 1,060 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 6.57 | 20.46 | 46.26 | 14.51 | 17.72 | 21.97 | 26.05 | 32.12 | 39.27 | +25.5% | |||||
| Earnings | — | — | (4.60) | (15.42) | (7.39) | (1.39) | (3.68) | (1.42) | 0.30 | 2.19 | 2.44 | n/m | ||||||
| Cash flow | — | — | (3.59) | (10.80) | 4.04 | 2.05 | 0.99 | 4.26 | 5.18 | 5.69 | 6.80 | n/m | ||||||
| Capex | — | — | (0.36) | (2.13) | (2.55) | (0.70) | (0.93) | (0.82) | (0.80) | (1.42) | (1.73) | +21.6% | ||||||
| Free cash flow | — | — | (3.95) | (12.92) | 1.49 | 1.35 | 0.06 | 3.43 | 4.38 | 4.28 | 5.07 | n/m | ||||||
| Book value | — | — | 0.00 | (25.02) | 75.33 | 13.86 | 18.18 | 17.32 | 18.96 | 23.49 | 24.67 | n/m | ||||||
| Shares, m | — | — | 44 | 43 | 62 | 337 | 371 | 393 | 412 | 427 | 433 | +38.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 578.45 | 103.42 | 74.17 | 85.2 | |||||
| P/S | — | — | 3.85 | 3.85 | 5.78 | 10.26 | 2.73 | 4.39 | 6.44 | 7.05 | 4.61 | 5.5 | ||||||
| P/B | — | — | 0.00 | 0.00 | 3.55 | 10.75 | 2.66 | 5.57 | 8.85 | 9.64 | 7.34 | 5.1 | ||||||
| EV/Sales | — | — | 3.40 | 3.40 | 4.31 | 9.64 | 2.32 | 4.00 | 6.00 | 6.85 | 4.42 | 5.0 | ||||||
| EV/FCF | — | — | (20.56) | (20.56) | 133.68 | 103.60 | 726.69 | 25.59 | 35.68 | 51.49 | 34.24 | 129.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (159) | (467) | 252 | 692 | 367 | 1,673 | 2,132 | 2,431 | 2,953 | n/m | |||||
| Capex | — | — | (16) | (92) | (159) | (237) | (346) | (324) | (330) | (605) | (750) | +68.0% | ||||||
| Free cash flow | — | — | (175) | (559) | 93 | 455 | 21 | 1,349 | 1,802 | 1,826 | 2,203 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 459 | 616 | 4,115 | 2,805 | 2,176 | 2,187 | 2,948 | 2,496 | 2,970 | +27.4% | |||||
| Net debt | — | — | (470) | (581) | (4,257) | (3,384) | (3,065) | (4,183) | (5,531) | (3,055) | (3,555) | +30.7% | ||||||
| Shareholders’ equity | — | — | — | (1,082) | 4,700 | 4,667 | 6,754 | 6,806 | 7,803 | 10,033 | 10,717 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (77.14) | (11.40) | (7.11) | (16.45) | (5.41) | 1.04 | 5.75 | 5.51 | +5.8 pt | |||||
| ROIC | — | — | 0.00 | 0.00 | (61.51) | (22.02) | (19.04) | (13.80) | (1.05) | 6.48 | 7.82 | +6.5 pt | ||||||
| ROE | — | — | 27.27 | 88.01 | (25.48) | (9.99) | (23.90) | (8.23) | 1.68 | 10.48 | 10.52 | (16.8) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 3,886 | 8,600 | 16,800 | 19,300 | 23,700 | 31,400 | — | +51.9% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.74 | 0.57 | 0.39 | 0.45 | 0.45 | 0.44 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Reportable Segment | 13,717 | 100.00% |
|---|---|---|
| Gross margin | 50.88% | |
| Operating margin | 5.27% | |
| Pre-tax margin | 6.85% |
DoorDash, Inc. vs peers in Internet Retail (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BABA Alibaba Group Holding Limited | $268.9B | 23.8× | 18.4× | +14.66% (above 0%: growing) | −74.13% (below 0%: shrinking) | +17.19% (above 0%: growing) | 38.24% | 7.29% | Compare |
| PDD PDD Holdings Inc. Sponsored ADR | $119.5B | 8.7× | 8.0× | +14.08% (above 0%: growing) | −7.17% (below 0%: shrinking) | +25.39% (above 0%: growing) | 57.26% | 24.71% | Compare |
| DASH DoorDash, Inc. | $78.5B | 74.2× | 64.3× | +33.95% (above 0%: growing) | +87.72% (above 0%: growing) | +8.85% (above 0%: growing) | 52.97% | 9.58% | |
| MELI MercadoLibre, Inc. | $77.6B | 40.8× | 42.6× | +45.09% (above 0%: growing) | +6.13% (above 0%: growing) | −5.96% (below 0%: shrinking) | 40.78% | 6.29% | Compare |
| EBAY eBay Inc. | $54.2B | 26.4× | 27.7× | +13.69% (above 0%: growing) | −19.47% (below 0%: shrinking) | −2.09% (below 0%: shrinking) | 72.33% | 19.21% | Compare |
| SE Sea Limited Sponsored ADR | $42.9B | 27.9× | 25.2× | +48.07% (above 0%: growing) | +5.88% (above 0%: growing) | −6.79% (below 0%: shrinking) | 45.58% | 8.35% | Compare |
| JD JD.com, Inc. | $34.4B | 17.6× | 9.8× | +2.54% (above 0%: growing) | +27.87% (above 0%: growing) | +64.77% (above 0%: growing) | 17.12% | 1.31% | Compare |
| CPNG Coupang, Inc. | $29.4B | — (loss-making) | — (loss-making) | +7.50% (above 0%: growing) | n/m | −116.29% (below 0%: shrinking) | 25.71% | (4.52%) | Compare |
| W Wayfair Inc. | $15.5B | — (loss-making) | — (loss-making) | +9.72% (above 0%: growing) | n/m | +31.25% (above 0%: growing) | 29.59% | 3.10% | Compare |
| Median of peers | $48.5B | 25.1× | 21.8× | +13.89% | −0.65% | +7.55% | 39.51% | 6.79% |
From the latest earnings call
- CFO Ravi Inukonda said restaurant growth accelerated from Q2 to Q3, alongside faster growth at Wolt and Deliveroo, as DoorDash invested in selection and subscriptions.
- CEO Tony Xu said combining with Instacart could add delivery-network density, while Inukonda expects $500 million in incremental synergies to the bottom line in year three.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
88.35%
Held by the ten largest
48.92%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 45.85m | 10.58% | +2.13m |
| SC US (TTGP), LTD. | 31.60m | 7.29% | 0.00 |
| BlackRock | 26.86m | 6.20% | +398.13k |
| Capital Group | 21.39m | 4.94% | +8.04m |
| T. Rowe Price | 20.08m | 4.63% | +1.49m |
| State Street | 16.10m | 3.72% | +506.46k |
| Morgan Stanley | 14.51m | 3.35% | +9.62k |
| JPMorgan Chase | 13.44m | 3.10% | +2.81m |
| Invesco | 13.06m | 3.01% | +397.32k |
| Geode Capital Management | 9.08m | 2.10% | +153.47k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 20 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 431.86k | 238.46m | 159.00 |
| 2024 | 318.52k | 313.76m | 118.00 |
| 2023 | 316.28k | 244.02m | 69.00 |
| 2022 | 300.07k | (686.37m) | 34.00 |
| 2021 | 300.30k | (35.82m) | 104.00 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
DoorDash, Inc. (DASH) Latest News
5 Nov
3 Nov
2 Nov
1 Nov
30 Oct
29 Oct
DASH metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
DoorDash operates online marketplaces that connect local merchants with consumers and delivery workers, known as Dashers. Consumers use its apps and websites to discover and buy goods from merchants in their communities. The company’s principal marketplaces are DoorDash, Wolt and Deliveroo, and they operate in over 40 countries. Local food delivery is currently its largest business category.
For merchants, the marketplaces provide an online storefront and services such as customer acquisition, order fulfillment, payment processing and customer support. Merchants and consumer packaged goods companies can also buy advertising on the marketplaces. Dashers deliver orders and, in most geographies, typically choose when and where to work and which tasks to accept.