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DoorDash (DASH) Financials

$167.64 +1.50 (+0.91%)

As of 03:31 PM Eastern

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Annual Income Statements for DoorDash

This table shows DoorDash's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-207	-668	-461	-468	-1,365	-558	123	935
Consolidated Net Income / (Loss)	-204	-667	-461	-468	-1,368	-565	117	932
Net Income / (Loss) Continuing Operations	-204	-667	-461	-468	-1,368	-565	117	932
Total Pre-Tax Income	-204	-666	-458	-463	-1,399	-534	156	939
Total Operating Income	-210	-616	-436	-452	-1,124	-579	-38	723
Total Gross Profit	63	362	1,518	2,550	2,995	4,046	5,180	6,979
Total Revenue	291	885	2,886	4,888	6,583	8,635	10,722	13,717
Operating Revenue	291	885	2,886	4,888	6,583	8,635	10,722	13,717
Total Cost of Revenue	228	523	1,368	2,338	3,588	4,589	5,542	6,738
Operating Cost of Revenue	228	523	1,368	2,338	3,588	4,589	5,542	6,738
Total Operating Expenses	273	978	1,954	3,002	4,119	4,625	5,218	6,256
Selling, General & Admin Expense	78	245	556	797	1,147	1,235	1,452	1,600
Marketing Expense	135	594	957	1,619	1,682	1,876	2,037	2,476
Research & Development Expense	51	107	321	430	829	1,003	1,168	1,431
Depreciation Expense	9.00	32	120	156	369	509	561	747
Restructuring Charge	-	-	0.00	0.00	92	2.00	0.00	2.00
Total Other Income / (Expense), net	6.00	-50	-22	-11	-275	45	194	216
Interest & Investment Income	7.00	18	7.00	-11	30	152	199	211
Other Income / (Expense), net	0.00	-68	3.00	0.00	-305	-107	-5.00	5.00
Income Tax Expense	0.00	1.00	3.00	5.00	-31	31	39	7.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	-3.00	-7.00	-6.00	-3.00
Basic Earnings per Share	($4.67)	($15.44)	($7.39)	($1.39)	($3.68)	($1.42)	$0.30	$2.19
Weighted Average Basic Shares Outstanding	44.31M	43.25M	62.39M	336.85M	371.41M	392.95M	411.55M	427.04M
Diluted Earnings per Share	($4.67)	($15.44)	($7.39)	($1.39)	($3.68)	($1.42)	$0.29	$2.13
Weighted Average Diluted Shares Outstanding	44.31M	43.25M	62.39M	336.85M	371.41M	392.95M	430.24M	439.69M
Weighted Average Basic & Diluted Shares Outstanding	44.31M	43.25M	62.39M	348.41M	392.08M	404.00M	420.10M	434.43M

This table shows DoorDash's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-170	-73	-154	-23	-157	162	141	193	285	244	213
Consolidated Net Income / (Loss)	-172	-75	-156	-25	-158	161	139	192	284	243	213
Net Income / (Loss) Continuing Operations	-172	-75	-156	-25	-158	161	139	192	284	243	213
Total Pre-Tax Income	-181	-69	-139	-18	-157	155	176	198	271	248	222
Total Operating Income	-211	-108	-89	-61	-201	107	117	155	163	258	147
Total Gross Profit	998	1,008	1,074	1,183	1,245	1,332	1,420	1,532	1,668	1,759	2,020
Total Revenue	2,133	2,164	2,303	2,513	2,630	2,706	2,873	3,032	3,284	3,446	3,955
Operating Revenue	2,133	2,164	2,303	2,513	2,630	2,706	2,873	3,032	3,284	3,446	3,955
Total Cost of Revenue	1,135	1,156	1,229	1,330	1,385	1,374	1,453	1,500	1,616	1,687	1,935
Operating Cost of Revenue	1,135	1,156	1,229	1,330	1,385	1,374	1,453	1,500	1,616	1,687	1,935
Total Operating Expenses	1,209	1,116	1,163	1,244	1,446	1,225	1,303	1,377	1,505	1,501	1,873
Selling, General & Admin Expense	341	289	320	319	494	315	324	332	388	400	480
Marketing Expense	471	449	460	504	509	483	541	586	607	576	707
Research & Development Expense	269	250	253	279	303	289	297	306	351	355	419
Depreciation Expense	128	128	130	142	140	138	141	152	159	169	267
Total Other Income / (Expense), net	30	39	-50	43	44	48	59	43	108	-10	75
Interest & Investment Income	34	40	51	45	49	54	51	49	49	71	42
Other Income / (Expense), net	-4.00	-1.00	-101	-2.00	-5.00	-6.00	8.00	-6.00	59	-81	33
Income Tax Expense	-9.00	6.00	17	7.00	1.00	-6.00	37	6.00	-13	5.00	9.00
Basic Earnings per Share	($0.44)	($0.19)	($0.38)	($0.06)	($0.38)	$0.39	$0.35	$0.46	$0.67	$0.57	$0.49
Weighted Average Basic Shares Outstanding	388.74M	393.22M	392.95M	405.48M	410.48M	413.11M	411.55M	421.42M	425.11M	428.91M	427.04M
Diluted Earnings per Share	($0.44)	($0.19)	($0.38)	($0.06)	($0.38)	$0.38	$0.35	$0.44	$0.65	$0.55	$0.49
Weighted Average Diluted Shares Outstanding	388.74M	393.22M	392.95M	405.48M	410.48M	427.96M	430.24M	435.56M	438.38M	441.81M	439.69M
Weighted Average Basic & Diluted Shares Outstanding	393.30M	398.21M	404.00M	408.91M	411.54M	415.40M	420.10M	423.74M	427.19M	431.00M	434.43M

This table details how cash moves in and out of DoorDash's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	150	72	4,058	-1,839	-318	584	1,449	460
Net Cash From Operating Activities	-159	-467	252	692	367	1,673	2,132	2,431
Net Cash From Continuing Operating Activities	-159	-467	252	692	367	1,673	2,132	2,431
Net Income / (Loss) Continuing Operations	-204	-667	-461	-468	-1,368	-565	117	932
Consolidated Net Income / (Loss)	-204	-667	-461	-468	-1,368	-565	117	932
Depreciation Expense	9.00	32	120	156	369	509	561	747
Amortization Expense	-	-	-	-	-	45	60	77
Non-Cash Adjustments To Reconcile Net Income	5.00	32	287	494	1,200	1,184	1,173	1,038
Changes in Operating Assets and Liabilities, net	31	136	306	510	166	500	221	-363
Net Cash From Investing Activities	-357	-570	-192	-2,047	-300	-342	-444	-4,391
Net Cash From Continuing Investing Activities	-357	-570	-192	-2,047	-300	-342	-444	-4,391
Purchase of Property, Plant & Equipment	-16	-92	-159	-237	-346	-324	-330	-605
Acquisitions	0.00	-315	-28	0.00	71	0.00	0.00	-4,151
Purchase of Investments	-390	-762	-593	-2,753	-1,963	-1,963	-1,951	-1,447
Sale and/or Maturity of Investments	49	600	587	944	1,939	1,947	1,844	1,812
Other Investing Activities, net	0.00	-1.00	1.00	-1.00	-1.00	-2.00	-7.00	0.00
Net Cash From Financing Activities	666	1,109	3,996	-483	-375	-752	-204	2,360
Net Cash From Continuing Financing Activities	666	1,109	3,996	-483	-375	-752	-204	2,360
Repayment of Debt	-4.00	-2.00	0.00	-333	14	-8.00	6.00	-10
Repurchase of Common Equity	-60	-3.00	-6.00	-10	-400	-750	-224	0.00
Issuance of Debt	0.00	0.00	333	-	-	0.00	0.00	2,720
Issuance of Common Equity	0.00	0.00	3,289	-	-	0.00	0.00	341
Other Financing Activities, net	5.00	3.00	-2.00	-140	11	6.00	14	-691
Effect of Exchange Rate Changes	-	-	-	-1.00	-10	5.00	-35	60

This table details how cash moves in and out of DoorDash's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-53	302	337	475	373	278	323	493	1,986	699	-2,718
Net Cash From Operating Activities	393	398	485	553	530	531	518	635	504	871	421
Net Cash From Continuing Operating Activities	393	398	485	553	530	531	518	635	504	871	421
Net Income / (Loss) Continuing Operations	-172	-75	-156	-25	-158	161	139	192	284	243	213
Consolidated Net Income / (Loss)	-172	-75	-156	-25	-158	161	139	192	284	243	213
Depreciation Expense	128	128	130	142	140	138	141	152	159	169	267
Amortization Expense	-	-	-	-	-	-	-	-	-	-	22
Non-Cash Adjustments To Reconcile Net Income	312	273	369	251	384	270	268	240	279	259	260
Changes in Operating Assets and Liabilities, net	125	72	142	185	164	-38	-30	51	-218	145	-341
Net Cash From Investing Activities	-135	-78	-119	-72	-147	-62	-163	-160	-941	-173	-3,117
Net Cash From Continuing Investing Activities	-135	-78	-119	-72	-147	-62	-163	-160	-941	-173	-3,117
Purchase of Property, Plant & Equipment	-82	-74	-87	-66	-79	-87	-98	-141	-149	-148	-167
Acquisitions	-	-	-	0.00	-	-	-	-27	-1,146	-25	-2,953
Purchase of Investments	-512	-625	-392	-529	-440	-558	-424	-425	-300	-388	-334
Sale and/or Maturity of Investments	459	622	360	532	371	582	359	433	654	388	337
Net Cash From Financing Activities	-308	-4.00	-50	7.00	-5.00	-213	7.00	3.00	2,375	1.00	-19
Net Cash From Continuing Financing Activities	-308	-4.00	-50	7.00	-5.00	-213	7.00	3.00	2,375	1.00	-19
Other Financing Activities, net	1.00	2.00	1.00	1.00	2.00	4.00	7.00	3.00	-678	3.00	-19
Effect of Exchange Rate Changes	-3.00	-14	-	-13	-5.00	22	-39	-	-	-	-3.00

This table presents DoorDash's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,732	6,353	6,809	9,789	10,839	12,845	19,659
Total Current Assets	998	5,517	4,565	4,720	5,597	7,386	8,643
Cash & Equivalents	257	4,345	2,504	1,977	2,656	4,019	4,378
Restricted Cash	-	-	-	-	105	190	273
Short-Term Investments	508	514	1,253	1,544	1,422	1,322	1,128
Accounts Receivable	58	291	349	400	533	732	1,108
Prepaid Expenses	125	221	139	358	525	687	1,169
Other Current Assets	50	146	320	441	356	436	587
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	734	836	2,244	5,069	5,242	5,459	11,016
Long-Term Investments	-	0.00	650	397	583	835	837
Goodwill	306	316	316	2,370	2,432	2,315	5,519
Intangible Assets	103	74	61	765	659	510	2,260
Other Noncurrent Operating Assets	325	446	1,217	1,537	1,568	1,799	2,400
Total Liabilities & Shareholders' Equity	1,732	6,353	6,809	9,789	10,839	12,845	19,659
Total Liabilities	550	1,653	2,142	3,021	4,026	5,035	9,613
Total Current Liabilities	382	1,402	1,760	2,544	3,410	4,438	6,147
Accounts Payable	20	80	161	157	216	321	397
Accrued Expenses	345	943	1,573	2,332	3,126	4,049	5,645
Other Current Liabilities	17	15	26	55	68	68	105
Total Noncurrent Liabilities	168	251	382	477	616	597	3,466
Long-Term Debt	-	-	-	-	-	0.00	2,724
Other Noncurrent Operating Liabilities	168	251	382	477	616	597	742
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	2,264	-	0.00	14	7.00	7.00	13
Total Equity & Noncontrolling Interests	-1,082	4,700	4,667	6,754	6,806	7,803	10,033
Total Preferred & Common Equity	-1,082	4,700	4,667	6,754	6,806	7,803	10,033
Total Common Equity	-1,082	4,700	4,667	6,754	6,806	7,803	10,033
Common Stock	70	6,313	6,752	10,633	11,887	13,165	14,092
Retained Earnings	-1,152	-1,613	-2,081	-3,846	-5,154	-5,255	-4,320
Accumulated Other Comprehensive Income / (Loss)	-	-	-4.00	-33	73	-107	261

This table presents DoorDash's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	9,646	9,601	10,013	10,839	11,450	11,837	12,277	12,845	13,572	16,950	17,971
Total Current Assets	4,587	4,605	5,142	5,597	6,130	6,617	6,760	7,386	7,853	9,735	10,493
Cash & Equivalents	1,833	1,904	2,344	2,656	3,124	3,430	3,664	4,019	4,500	3,911	3,279
Restricted Cash	-	-	-	105	-	-	-	190	202	2,750	4,080
Short-Term Investments	1,573	1,552	1,477	1,422	1,366	1,424	1,300	1,322	1,317	1,088	964
Accounts Receivable	382	383	417	533	546	585	622	732	782	840	894
Prepaid Expenses	509	469	519	525	700	782	839	687	730	824	899
Other Current Assets	290	297	385	356	394	396	335	436	322	322	377
Plant, Property, & Equipment, net	656	0.00	0.00	0.00	705	0.00	0.00	0.00	846	0.00	0.00
Total Noncurrent Assets	4,403	4,996	4,871	5,242	4,615	5,220	5,517	5,459	4,873	7,215	7,478
Long-Term Investments	314	381	474	583	646	669	795	835	842	725	849
Goodwill	2,403	2,396	2,345	2,432	2,386	2,371	2,460	2,315	2,412	3,529	3,570
Intangible Assets	743	708	663	659	621	586	577	510	504	890	878
Other Noncurrent Operating Assets	943	1,511	1,389	1,568	962	1,594	1,685	1,799	1,115	2,071	2,181
Total Liabilities & Shareholders' Equity	9,646	9,601	10,013	10,839	11,450	11,837	12,277	12,845	13,572	16,950	17,971
Total Liabilities	3,115	3,194	3,445	4,026	4,440	4,665	4,699	5,035	5,177	8,022	8,463
Total Current Liabilities	2,651	2,726	2,986	3,410	3,743	4,028	4,094	4,438	4,577	4,696	5,132
Accounts Payable	208	173	149	216	203	163	191	321	329	345	257
Accrued Expenses	2,388	2,495	2,774	3,126	3,476	3,801	3,837	4,049	4,178	4,273	4,794
Other Current Liabilities	55	58	63	68	64	64	66	68	70	78	81
Total Noncurrent Liabilities	464	468	459	616	697	637	605	597	600	3,326	3,331
Long-Term Debt	-	-	-	-	-	-	-	-	-	2,721	2,722
Other Noncurrent Operating Liabilities	464	468	459	616	697	637	605	597	600	605	609
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	13	11	9.00	7.00	11	10	9.00	7.00	6.00	5.00	13
Total Equity & Noncontrolling Interests	6,518	6,396	6,559	6,806	6,999	7,162	7,569	7,803	8,389	8,923	9,495
Total Preferred & Common Equity	6,518	6,396	6,559	6,806	6,999	7,162	7,569	7,803	8,389	8,923	9,495
Total Common Equity	6,518	6,396	6,559	6,806	6,999	7,162	7,569	7,803	8,389	8,923	9,495
Common Stock	10,900	11,257	11,576	11,887	12,177	12,523	12,843	13,165	13,444	13,439	13,760
Retained Earnings	-4,400	-4,870	-4,949	-5,154	-5,177	-5,336	-5,396	-5,255	-5,062	-4,777	-4,533
Accumulated Other Comprehensive Income / (Loss)	18	9.00	-68	73	-1.00	-25	122	-107	7.00	261	268

This table displays calculated financial ratios and metrics derived from DoorDash's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	204.12%	226.10%	69.37%	34.68%	31.17%	24.17%	27.93%
EBITDA Growth	0.00%	-224.38%	51.99%	5.43%	-258.11%	83.30%	392.66%	168.51%
EBIT Growth	0.00%	-225.71%	36.70%	-4.39%	-216.15%	51.99%	93.73%	1,793.02%
NOPAT Growth	0.00%	-193.33%	29.22%	-3.67%	-148.67%	48.49%	92.97%	2,617.93%
Net Income Growth	0.00%	-226.96%	30.88%	-1.52%	-192.31%	58.70%	120.71%	696.58%
EPS Growth	0.00%	-230.62%	52.14%	81.19%	-164.75%	61.41%	120.42%	634.48%
Operating Cash Flow Growth	0.00%	-193.71%	153.96%	174.60%	-46.97%	355.86%	27.44%	14.02%
Free Cash Flow Firm Growth	0.00%	0.00%	89.01%	-298.50%	-809.21%	111.78%	44.46%	-794.93%
Invested Capital Growth	0.00%	0.00%	-50.84%	26.83%	996.15%	-28.18%	-29.46%	326.18%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.24%	8.54%	5.95%	5.61%	8.56%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	36.07%	-76.67%	74.01%	169.79%	19.94%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	24.79%	-57.55%	41.42%	87.99%	8.17%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	25.04%	-23.79%	32.67%	83.31%	7.78%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	25.12%	-55.28%	46.24%	165.73%	8.62%
EPS Q/Q Growth	0.00%	0.00%	0.00%	68.76%	-52.07%	48.36%	165.91%	7.04%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	49.78%	-28.18%	38.15%	1.57%	-3.84%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-0.87%	288.48%	102.86%	-596.56%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	641.67%	6.98%	-9.94%	-20.62%	101.24%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	21.65%	40.90%	52.60%	52.17%	45.50%	46.86%	48.31%	50.88%
EBITDA Margin	-69.07%	-73.67%	-10.85%	-6.06%	-16.10%	-2.05%	4.83%	11.31%
Operating Margin	-72.16%	-69.60%	-15.11%	-9.25%	-17.07%	-6.71%	-0.35%	5.27%
EBIT Margin	-72.16%	-77.29%	-15.00%	-9.25%	-21.71%	-7.94%	-0.40%	5.31%
Profit (Net Income) Margin	-70.10%	-75.37%	-15.97%	-9.57%	-20.78%	-6.54%	1.09%	6.79%
Tax Burden Percent	100.00%	100.15%	100.66%	101.08%	97.78%	105.81%	75.00%	99.25%
Interest Burden Percent	97.14%	97.37%	105.77%	102.43%	97.90%	77.84%	-362.79%	128.98%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	25.00%	0.75%
Return on Invested Capital (ROIC)	0.00%	-206.81%	-98.14%	-136.09%	-50.60%	-16.55%	-1.63%	18.89%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-145.16%	-92.21%	-132.68%	-36.64%	-12.88%	-4.25%	14.71%
Return on Net Nonoperating Assets (RNNOA)	0.00%	93.95%	82.46%	126.09%	26.67%	8.23%	3.23%	-8.45%
Return on Equity (ROE)	0.00%	-112.86%	-15.67%	-9.99%	-23.93%	-8.32%	1.60%	10.44%
Cash Return on Invested Capital (CROIC)	0.00%	-406.81%	-29.97%	-159.74%	-217.16%	16.24%	32.91%	-105.09%
Operating Return on Assets (OROA)	0.00%	-39.49%	-10.71%	-6.87%	-17.22%	-6.65%	-0.36%	4.48%
Return on Assets (ROA)	0.00%	-38.51%	-11.40%	-7.11%	-16.48%	-5.48%	0.99%	5.73%
Return on Common Equity (ROCE)	0.00%	103.31%	-9.64%	-9.99%	-23.90%	-8.31%	1.60%	10.43%
Return on Equity Simple (ROE_SIMPLE)	0.00%	61.65%	-9.81%	-10.03%	-20.25%	-8.30%	1.50%	0.00%
Net Operating Profit after Tax (NOPAT)	-147	-431	-305	-316	-787	-405	-29	718
NOPAT Margin	-50.52%	-48.72%	-10.58%	-6.47%	-11.95%	-4.69%	-0.27%	5.23%
Net Nonoperating Expense Percent (NNEP)	0.00%	-61.65%	-5.92%	-3.41%	-13.96%	-3.68%	2.61%	4.18%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-11.65%	-5.96%	-0.37%	5.63%
Cost of Revenue to Revenue	78.35%	59.10%	47.40%	47.83%	54.50%	53.14%	51.69%	49.12%
SG&A Expenses to Revenue	26.80%	27.68%	19.27%	16.31%	17.42%	14.30%	13.54%	11.66%
R&D to Revenue	17.53%	12.09%	11.12%	8.80%	12.59%	11.62%	10.89%	10.43%
Operating Expenses to Revenue	93.81%	110.51%	67.71%	61.42%	62.57%	53.56%	48.67%	45.61%
Earnings before Interest and Taxes (EBIT)	-210	-684	-433	-452	-1,429	-686	-43	728
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-201	-652	-313	-296	-1,060	-177	518	1,552
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.00	10.95	2.81	5.79	8.93	9.73
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.09	11.91	5.24	10.60	14.00	43.31
Price to Revenue (P/Rev)	11.57	3.80	1.63	10.45	2.88	4.56	6.50	7.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	566.53	104.40
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.96%
Enterprise Value to Invested Capital (EV/IC)	0.00	11.67	1.05	179.52	5.28	16.91	43.85	15.23
Enterprise Value to Revenue (EV/Rev)	0.00	5.50	0.07	9.55	2.29	4.01	5.91	6.83
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	122.25	60.40
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	128.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	130.62
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.86	67.45	41.00	20.69	29.70	38.56
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	87.05	110.22	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.08	0.00	0.00	0.00	0.00	0.27
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.27
Financial Leverage	0.00	-0.65	-0.89	-0.95	-0.73	-0.64	-0.76	-0.57
Leverage Ratio	0.00	1.47	1.37	1.41	1.45	1.52	1.62	1.82
Compound Leverage Factor	0.00	1.43	1.45	1.44	1.42	1.18	-5.88	2.35
Debt to Total Capital	0.00%	0.00%	7.19%	0.00%	0.00%	0.00%	0.00%	21.33%
Short-Term Debt to Total Capital	0.00%	0.00%	7.19%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	191.54%	0.00%	0.00%	0.21%	0.10%	0.09%	0.10%
Common Equity to Total Capital	0.00%	-91.54%	92.81%	100.00%	99.79%	99.90%	99.91%	78.57%
Debt to EBITDA	0.00	0.00	-1.16	0.00	0.00	0.00	0.00	1.76
Net Debt to EBITDA	0.00	0.00	14.36	0.00	0.00	0.00	0.00	-2.51
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.76
Debt to NOPAT	0.00	0.00	-1.19	0.00	0.00	0.00	0.00	3.80
Net Debt to NOPAT	0.00	0.00	14.73	0.00	0.00	0.00	0.00	-5.42
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.80
Altman Z-Score	0.00	2.38	2.36	14.87	3.67	6.03	8.83	6.76
Noncontrolling Interest Sharing Ratio	0.00%	191.54%	38.49%	0.00%	0.12%	0.15%	0.10%	0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.61	3.94	2.59	1.86	1.64	1.66	1.41
Quick Ratio	0.00	2.15	3.67	2.33	1.54	1.35	1.37	1.08
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-848	-93	-371	-3,377	398	575	-3,992
Operating Cash Flow to CapEx	-993.75%	-507.61%	158.49%	291.98%	106.07%	516.36%	646.06%	401.82%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-2.91	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-159.00	0.00	7.88	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-175.00	0.00	2.91	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.51	0.71	0.74	0.79	0.84	0.91	0.84
Accounts Receivable Turnover	0.00	15.26	16.54	15.28	17.58	18.51	16.95	14.91
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	26.15	27.36	19.40	22.57	24.61	20.64	18.77
Days Sales Outstanding (DSO)	0.00	23.92	22.07	23.90	20.76	19.72	21.53	24.48
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	13.96	13.34	18.81	16.17	14.83	17.68	19.45
Cash Conversion Cycle (CCC)	0.00	9.96	8.73	5.08	4.59	4.89	3.85	5.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	417	205	260	2,850	2,047	1,444	6,154
Invested Capital Turnover	0.00	4.24	9.28	21.02	4.23	3.53	6.14	3.61
Increase / (Decrease) in Invested Capital	0.00	417	-212	55	2,590	-803	-603	4,710
Enterprise Value (EV)	0.00	4,865	216	46,674	15,049	34,620	63,324	93,734
Market Capitalization	3,366	3,366	4,711	51,081	18,953	39,379	69,683	97,613
Book Value per Share	$0.00	($25.02)	$75.33	$13.60	$17.40	$17.09	$18.78	$23.28
Tangible Book Value per Share	$0.00	($34.47)	$69.08	$12.51	$9.32	$9.33	$11.98	$5.23
Total Capital	0.00	1,182	5,064	4,667	6,768	6,813	7,810	12,770
Total Debt	0.00	0.00	364	0.00	0.00	0.00	0.00	2,724
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,724
Net Debt	0.00	-765	-4,495	-4,407	-3,918	-4,766	-6,366	-3,892
Capital Expenditures (CapEx)	16	92	159	237	346	324	330	605
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-149	-380	-952	-1,345	-1,996	-2,583	-3,283
Debt-free Net Working Capital (DFNWC)	0.00	616	4,479	2,805	2,176	2,187	2,948	2,496
Net Working Capital (NWC)	0.00	616	4,115	2,805	2,176	2,187	2,948	2,496
Net Nonoperating Expense (NNE)	57	236	156	152	581	160	-146	-214
Net Nonoperating Obligations (NNO)	0.00	-765	-4,495	-4,407	-3,918	-4,766	-6,366	-3,892
Total Depreciation and Amortization (D&A)	9.00	32	120	156	369	509	561	824
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-16.84%	-13.17%	-19.48%	-20.43%	-23.12%	-24.09%	-23.93%
Debt-free Net Working Capital to Revenue	0.00%	69.60%	155.20%	57.39%	33.05%	25.33%	27.49%	18.20%
Net Working Capital to Revenue	0.00%	69.60%	142.58%	57.39%	33.05%	25.33%	27.49%	18.20%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($7.39)	($1.39)	($3.68)	($1.42)	$0.30	$2.19
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	321.46M	336.85M	371.41M	392.95M	411.55M	427.04M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($7.39)	($1.39)	($3.68)	($1.42)	$0.29	$2.13
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	321.46M	336.85M	371.41M	392.95M	430.24M	439.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($7.39)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	62.39M	348.41M	392.08M	404.00M	420.10M	434.43M
Normalized Net Operating Profit after Tax (NOPAT)	-147	-431	-305	-316	-722	-404	-29	720
Normalized NOPAT Margin	-50.52%	-48.72%	-10.58%	-6.47%	-10.97%	-4.68%	-0.27%	5.25%
Pre Tax Income Margin	-70.10%	-75.25%	-15.87%	-9.47%	-21.25%	-6.18%	1.46%	6.85%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-210.00	0.00	-13.53	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-147.00	0.00	-9.54	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-226.00	0.00	-18.50	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-163.00	0.00	-14.51	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-29.41%	-0.45%	-1.30%	-2.14%	-29.24%	-132.74%	191.45%	0.00%

This table displays calculated financial ratios and metrics derived from DoorDash's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	32.65%	27.22%	26.68%	23.49%	23.30%	25.05%	24.75%	20.65%	24.87%	27.35%	37.66%
EBITDA Growth	55.38%	109.90%	89.36%	261.22%	24.14%	1,157.89%	543.33%	281.01%	677.27%	44.77%	65.72%
EBIT Growth	22.10%	64.84%	71.85%	63.37%	4.19%	192.66%	165.79%	336.51%	207.77%	75.25%	44.00%
NOPAT Growth	22.71%	64.94%	75.95%	64.33%	4.74%	247.01%	248.32%	452.00%	221.41%	127.46%	52.64%
Net Income Growth	34.60%	74.66%	75.70%	84.57%	8.14%	314.67%	189.10%	868.00%	279.75%	50.93%	53.24%
EPS Growth	38.89%	75.32%	77.78%	85.37%	13.64%	300.00%	192.11%	833.33%	271.05%	44.74%	40.00%
Operating Cash Flow Growth	138.18%	100.00%	2,008.70%	39.29%	34.86%	33.42%	6.80%	14.83%	-4.91%	64.03%	-18.73%
Free Cash Flow Firm Growth	106.28%	110.77%	126.00%	135.52%	293.49%	79.18%	-6.12%	-45.17%	-273.67%	-274.51%	-757.02%
Invested Capital Growth	-11.87%	-14.68%	-28.18%	-33.33%	-35.84%	-19.97%	-29.46%	-18.14%	92.54%	68.11%	326.18%
Revenue Q/Q Growth	4.82%	1.45%	6.42%	9.12%	4.66%	2.89%	6.17%	5.53%	8.31%	4.93%	14.77%
EBITDA Q/Q Growth	-77.55%	121.84%	-415.79%	231.67%	-183.54%	462.12%	11.30%	13.16%	26.58%	-9.19%	35.55%
EBIT Q/Q Growth	-25.00%	49.30%	-74.31%	66.84%	-226.98%	149.03%	23.76%	19.20%	48.99%	-20.27%	1.69%
NOPAT Q/Q Growth	-23.39%	48.82%	17.59%	31.46%	-229.51%	178.99%	-16.86%	62.66%	13.65%	47.99%	-44.21%
Net Income Q/Q Growth	-6.17%	56.40%	-108.00%	83.97%	-532.00%	201.90%	-13.66%	38.13%	47.92%	-14.44%	-12.35%
EPS Q/Q Growth	-7.32%	56.82%	-100.00%	84.21%	-533.33%	200.00%	-7.89%	25.71%	47.73%	-15.38%	-10.91%
Operating Cash Flow Q/Q Growth	-1.01%	1.27%	21.86%	14.02%	-4.16%	0.19%	-2.45%	22.59%	-20.63%	72.82%	-51.66%
Free Cash Flow Firm Q/Q Growth	107.88%	59.05%	134.84%	40.68%	-12.75%	-27.57%	23.05%	-29.49%	-376.40%	27.23%	-363.29%
Invested Capital Q/Q Growth	-8.57%	-11.56%	-9.94%	-12.92%	-12.01%	10.31%	-20.62%	6.23%	106.98%	-3.69%	101.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.79%	46.58%	46.63%	47.08%	47.34%	49.22%	49.43%	50.53%	50.79%	51.04%	51.07%
EBITDA Margin	-4.08%	0.88%	-2.61%	3.14%	-2.51%	8.83%	9.26%	9.93%	11.60%	10.04%	11.86%
Operating Margin	-9.89%	-4.99%	-3.86%	-2.43%	-7.64%	3.95%	4.07%	5.11%	4.96%	7.49%	3.72%
EBIT Margin	-10.08%	-5.04%	-8.25%	-2.51%	-7.83%	3.73%	4.35%	4.91%	6.76%	5.14%	4.55%
Profit (Net Income) Margin	-8.06%	-3.47%	-6.77%	-0.99%	-6.01%	5.95%	4.84%	6.33%	8.65%	7.05%	5.39%
Tax Burden Percent	95.03%	108.70%	112.23%	138.89%	100.64%	103.87%	78.98%	96.97%	104.80%	97.98%	95.95%
Interest Burden Percent	84.19%	63.30%	73.16%	28.57%	76.21%	153.47%	140.80%	132.89%	122.07%	140.11%	123.33%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-3.87%	21.02%	3.03%	-4.80%	2.02%	4.05%
Return on Invested Capital (ROIC)	-19.41%	-11.53%	-9.54%	-6.61%	-24.37%	20.38%	19.76%	32.70%	25.65%	38.01%	12.88%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.82%	-11.55%	-7.38%	-7.01%	-24.00%	19.39%	18.92%	32.01%	23.64%	38.17%	11.47%
Return on Net Nonoperating Assets (RNNOA)	11.35%	7.30%	4.72%	4.58%	16.54%	-13.78%	-14.40%	-24.93%	-16.56%	-27.28%	-6.59%
Return on Equity (ROE)	-8.06%	-4.24%	-4.82%	-2.03%	-7.83%	6.60%	5.35%	7.78%	9.09%	10.74%	6.29%
Cash Return on Invested Capital (CROIC)	-14.44%	-8.55%	16.24%	25.99%	28.43%	13.84%	32.91%	29.33%	-41.47%	-23.50%	-105.09%
Operating Return on Assets (OROA)	-7.94%	-4.20%	-6.91%	-2.17%	-7.02%	3.40%	3.94%	4.42%	5.59%	4.29%	3.84%
Return on Assets (ROA)	-6.35%	-2.89%	-5.67%	-0.86%	-5.39%	5.42%	4.38%	5.69%	7.15%	5.89%	4.55%
Return on Common Equity (ROCE)	-8.05%	-4.23%	-4.81%	-2.02%	-7.81%	6.59%	5.35%	7.77%	9.08%	10.72%	6.28%
Return on Equity Simple (ROE_SIMPLE)	-19.89%	-16.02%	0.00%	-6.12%	-5.78%	-2.35%	0.00%	3.98%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-148	-76	-62	-43	-141	111	92	150	171	253	141
NOPAT Margin	-6.92%	-3.49%	-2.71%	-1.70%	-5.35%	4.11%	3.22%	4.96%	5.20%	7.34%	3.57%
Net Nonoperating Expense Percent (NNEP)	-0.58%	0.01%	-2.16%	0.40%	-0.37%	0.99%	0.84%	0.70%	2.01%	-0.16%	1.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-0.92%	-	-	-	1.18%	1.79%	1.47%	2.07%	1.11%
Cost of Revenue to Revenue	53.21%	53.42%	53.37%	52.92%	52.66%	50.78%	50.57%	49.47%	49.21%	48.96%	48.93%
SG&A Expenses to Revenue	15.99%	13.35%	13.89%	12.69%	18.78%	11.64%	11.28%	10.95%	11.81%	11.61%	12.14%
R&D to Revenue	12.61%	11.55%	10.99%	11.10%	11.52%	10.68%	10.34%	10.09%	10.69%	10.30%	10.59%
Operating Expenses to Revenue	56.68%	51.57%	50.50%	49.50%	54.98%	45.27%	45.35%	45.42%	45.83%	43.56%	47.36%
Earnings before Interest and Taxes (EBIT)	-215	-109	-190	-63	-206	101	125	149	222	177	180
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-87	19	-60	79	-66	239	266	301	381	346	469
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.64	4.77	5.79	7.84	6.21	7.76	8.93	9.15	11.71	12.24	9.73
Price to Tangible Book Value (P/TBV)	9.02	8.80	10.60	13.74	10.58	12.96	14.00	14.03	23.19	23.02	43.31
Price to Revenue (P/Rev)	3.86	3.84	4.56	6.02	4.63	5.79	6.50	6.83	8.78	9.20	7.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	566.53	226.49	133.75	134.64	104.40
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.44%	0.75%	0.74%	0.96%
Enterprise Value to Invested Capital (EV/IC)	10.07	11.87	16.91	26.53	23.63	29.13	43.85	45.58	31.09	35.89	15.23
Enterprise Value to Revenue (EV/Rev)	3.37	3.31	4.01	5.46	4.06	5.22	5.91	6.22	8.30	8.69	6.83
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	275.99	122.25	94.49	83.16	84.82	60.40
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	413.76	165.34	163.08	128.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	437.54	187.75	164.84	130.62
Enterprise Value to Operating Cash Flow (EV/OCF)	25.56	22.27	20.69	27.18	19.82	25.25	29.70	31.58	45.11	43.42	38.56
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	87.05	81.68	64.98	187.11	110.22	139.90	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.30	0.29	0.27
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.30	0.29	0.27
Financial Leverage	-0.60	-0.63	-0.64	-0.65	-0.69	-0.71	-0.76	-0.78	-0.70	-0.71	-0.57
Leverage Ratio	1.41	1.46	1.52	1.56	1.58	1.58	1.62	1.62	1.79	1.77	1.82
Compound Leverage Factor	1.19	0.92	1.11	0.45	1.20	2.42	2.28	2.16	2.18	2.48	2.25
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.36%	22.26%	21.33%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.36%	22.26%	21.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.17%	0.14%	0.10%	0.16%	0.14%	0.12%	0.09%	0.07%	0.04%	0.11%	0.10%
Common Equity to Total Capital	99.83%	99.86%	99.90%	99.84%	99.86%	99.88%	99.91%	99.93%	76.60%	77.64%	78.57%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.29	2.10	1.76
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-4.85	-4.98	-2.51
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.29	2.10	1.76
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.18	4.09	3.80
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-10.94	-9.69	-5.42
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.18	4.09	3.80
Altman Z-Score	5.83	5.79	6.18	7.81	6.11	8.00	8.87	9.53	8.52	8.98	6.67
Noncontrolling Interest Sharing Ratio	0.08%	0.19%	0.15%	0.18%	0.15%	0.13%	0.10%	0.11%	0.09%	0.13%	0.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	1.72	1.64	1.64	1.64	1.65	1.66	1.72	2.07	2.04	1.41
Quick Ratio	1.41	1.42	1.35	1.35	1.35	1.36	1.37	1.44	1.24	1.00	1.08
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	198	315	741	894	780	565	695	490	-1,355	-986	-4,569
Operating Cash Flow to CapEx	479.27%	537.84%	557.47%	837.88%	670.89%	610.34%	528.57%	450.35%	338.26%	588.51%	252.10%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.79	0.83	0.84	0.86	0.90	0.91	0.91	0.90	0.83	0.84	0.84
Accounts Receivable Turnover	21.09	21.97	18.51	19.64	19.86	19.54	16.95	16.93	16.69	16.67	14.91
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	13.39	0.00	0.00	0.00	14.50	0.00	0.00	0.00
Accounts Payable Turnover	21.84	22.60	24.61	23.60	30.36	31.28	20.64	21.47	23.40	27.93	18.77
Days Sales Outstanding (DSO)	17.31	16.62	19.72	18.58	18.38	18.68	21.53	21.56	21.86	21.90	24.48
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	16.71	16.15	14.83	15.47	12.02	11.67	17.68	17.00	15.60	13.07	19.45
Cash Conversion Cycle (CCC)	0.59	0.47	4.89	3.12	6.36	7.01	3.85	4.56	6.26	8.83	5.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,570	2,273	2,047	1,874	1,649	1,819	1,444	1,534	3,175	3,058	6,154
Invested Capital Turnover	2.80	3.30	3.53	3.89	4.56	4.96	6.14	6.60	4.93	5.18	3.61
Increase / (Decrease) in Invested Capital	-346	-391	-803	-937	-921	-454	-603	-340	1,526	1,239	4,710
Enterprise Value (EV)	25,868	26,969	34,620	49,716	38,969	52,989	63,324	69,926	98,709	109,756	93,734
Market Capitalization	29,694	31,255	39,379	54,841	44,482	58,739	69,683	76,781	104,457	116,193	97,613
Book Value per Share	$16.46	$16.68	$17.09	$17.26	$17.51	$18.39	$18.78	$19.97	$21.06	$22.23	$23.28
Tangible Book Value per Share	$8.47	$9.03	$9.33	$9.85	$10.28	$11.01	$11.98	$13.03	$10.63	$11.81	$5.23
Total Capital	6,407	6,568	6,813	7,010	7,172	7,578	7,810	8,395	11,649	12,230	12,770
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,721	2,722	2,724
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,721	2,722	2,724
Net Debt	-3,837	-4,295	-4,766	-5,136	-5,523	-5,759	-6,366	-6,861	-5,753	-6,450	-3,892
Capital Expenditures (CapEx)	82	74	87	66	79	87	98	141	149	148	167
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,577	-1,665	-1,996	-2,103	-2,265	-2,298	-2,583	-2,743	-2,710	-2,962	-3,283
Debt-free Net Working Capital (DFNWC)	1,879	2,156	2,187	2,387	2,589	2,666	2,948	3,276	5,039	5,361	2,496
Net Working Capital (NWC)	1,879	2,156	2,187	2,387	2,589	2,666	2,948	3,276	5,039	5,361	2,496
Net Nonoperating Expense (NNE)	24	-0.60	94	-18	17	-50	-47	-42	-113	9.80	-72
Net Nonoperating Obligations (NNO)	-3,837	-4,295	-4,766	-5,136	-5,523	-5,759	-6,366	-6,861	-5,753	-6,450	-3,892
Total Depreciation and Amortization (D&A)	128	128	130	142	140	138	141	152	159	169	289
Debt-free, Cash-free Net Working Capital to Revenue	-20.52%	-20.43%	-23.12%	-23.08%	-23.57%	-22.64%	-24.09%	-24.40%	-22.78%	-23.44%	-23.93%
Debt-free Net Working Capital to Revenue	24.44%	26.45%	25.33%	26.19%	26.94%	26.26%	27.49%	29.14%	42.36%	42.43%	18.20%
Net Working Capital to Revenue	24.44%	26.45%	25.33%	26.19%	26.94%	26.26%	27.49%	29.14%	42.36%	42.43%	18.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.44)	($0.19)	($0.38)	($0.06)	($0.38)	$0.39	$0.35	$0.46	$0.67	$0.57	$0.49
Adjusted Weighted Average Basic Shares Outstanding	388.74M	393.22M	392.95M	405.48M	410.48M	413.11M	411.55M	421.42M	425.11M	428.91M	427.04M
Adjusted Diluted Earnings per Share	($0.44)	($0.19)	($0.38)	($0.06)	($0.38)	$0.38	$0.35	$0.44	$0.65	$0.55	$0.49
Adjusted Weighted Average Diluted Shares Outstanding	388.74M	393.22M	392.95M	405.48M	410.48M	427.96M	430.24M	435.56M	438.38M	441.81M	439.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	393.30M	398.21M	404.00M	408.91M	411.54M	415.40M	420.10M	423.74M	427.19M	431.00M	434.43M
Normalized Net Operating Profit after Tax (NOPAT)	-148	-76	-62	-43	-141	75	92	151	114	254	141
Normalized NOPAT Margin	-6.92%	-3.49%	-2.71%	-1.70%	-5.35%	2.77%	3.22%	4.99%	3.47%	7.36%	3.57%
Pre Tax Income Margin	-8.49%	-3.19%	-6.04%	-0.72%	-5.97%	5.73%	6.13%	6.53%	8.25%	7.20%	5.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-85.93%	-66.51%	-132.74%	-83.64%	-15.46%	-154.49%	191.45%	0.00%	27.96%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

DoorDash (DASH) has shown a material revenue expansion over the last four years, with margins stabilizing around the low- to mid-50% area on gross profit. The company has generated positive net income and strong operating cash flow in several recent quarters, while maintaining a sizable balance sheet liquidity. Below are the 10 most meaningful points derived from the quarterly income statements, cash flow statements, and balance sheets in the period 2022–2025, with a focus on the four most recent quarters (Q1–Q4 2025).

Revenue has trended higher year over year, with Q4 2025 operating revenue of $3.955B, up from $2.873B in Q4 2024 and well above levels from 2022. This reflects sustained growth in the core marketplace.
Gross margin has remained robust, with Total Gross Profit around $2.02B in Q4 2025 on $3.955B revenue, implying a gross margin near 51% across the recent quarters (consistent with prior years).
Net income has been positive in the latest quarters, featuring Q4 2025 net income attributable to common shareholders of about $213M, supporting modest to solid bottom-line progress alongside revenue growth.
Operating cash flow has been strong and positive across the recent four quarters, including Q3 2025 net cash from continuing operating activities around $871M and Q4 2025 around $421M, indicating durable cash-generating ability from core operations.
Earnings per share have improved in the latest period, with Q4 2025 Basic and Diluted EPS both at $0.49, showing earnings power per share that’s higher than earlier recent quarters.
DoorDash maintains substantial liquidity, with cash & equivalents generally in the range of $3.3B–$3.9B in 2025 quarters (plus additional cash balances in other current assets), providing ample cushion to fund growth initiatives and working capital needs.
Debt profile is moderate and stable, with long-term debt around $2.72B in 2025 balance sheets, suggesting manageable leverage given strong operating cash flow and sizable liquidity.
There are occasional large cash outlays for acquisitions and investments in some quarters (for example, Q4 2025 shows acquisitions of about $2.95B), indicating ongoing strategic investments that may temporarily impact cash but could support longer-term growth.
Total asset bases have grown materially, reaching around $17.97B by Q3 2025, driven largely by goodwill and intangible assets as a result of investments and acquisitions; this balance-sheet expansion can imply higher impairment risk if growth decelerates.
One-quarter liquidity pressure occurred in Q4 2025, where Net Change in Cash & Equivalents was negative by about $2.72B, reflecting heavy investing/financing activity that was not fully offset by operating cash flow in that quarter.

Overall, DoorDash has demonstrated meaningful top-line growth and consistent gross margins, with positive quarterly net income and robust cash flow from operations in most recent periods. The primary ongoing considerations for investors are the cadence of large investing activities and the associated effects on near-term cash balances, balanced against the potential for continued revenue growth and improving profitability over time.

05/06/26 01:35 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About DoorDash's Financials

When does DoorDash's financial year end?

According to the most recent income statement we have on file, DoorDash's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has DoorDash's net income changed over the last 7 years?

DoorDash's net income appears to be on a downward trend, with a most recent value of $932 million in 2025, falling from -$204 million in 2018. The previous period was $117 million in 2024. See where experts think DoorDash is headed by visiting DoorDash's forecast page.

What is DoorDash's operating income?

DoorDash's total operating income in 2025 was $723 million, based on the following breakdown:

Total Gross Profit: $6.98 billion
Total Operating Expenses: $6.26 billion

How has DoorDash's revenue changed over the last 7 years?

Over the last 7 years, DoorDash's total revenue changed from $291 million in 2018 to $13.72 billion in 2025, a change of 4,613.7%.

How much debt does DoorDash have?

DoorDash's total liabilities were at $9.61 billion at the end of 2025, a 90.9% increase from 2024, and a 1,647.8% increase since 2019.

How much cash does DoorDash have?

In the past 6 years, DoorDash's cash and equivalents has ranged from $257 million in 2019 to $4.38 billion in 2025, and is currently $4.38 billion as of their latest financial filing in 2025.

How has DoorDash's book value per share changed over the last 7 years?

Over the last 7 years, DoorDash's book value per share changed from 0.00 in 2018 to 23.28 in 2025, a change of 2,327.9%.

Related Companies

Financial statements for NASDAQ:DASH last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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DoorDash (DASH) Financials

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DoorDash (DASH) Financials

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