DoorDash reports results on Wednesday 4 November, before the market opens. Twelve-month revenue stands at $17.1 billion, up 35.0% on the year before, and that growth rate is up 1.4 percentage points from a quarter earlier. The report will test whether that acceleration holds.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Dec '25 | $0.48 | $0.58 |
| Mar '26 | $0.42 | $0.36 |
| Jun '26 | $0.46 | $0.47 |
| Sep '26 | $1.06 | $0.81 |
What analysts expect from DoorDash
The analysts' average EPS estimate for the quarter is $1.58, in a range from $1.51 to $1.64. The average revenue estimate for the quarter is $4.8 billion. For the full year, the average EPS estimate is $2.79, up 30.9% on last year, based on 40 analysts. That estimate has risen 10.1% over the past 90 days. Of the analysts' recommendations, 34 are positive, 8 neutral and 0 negative.
Earnings surprise model
Our model estimates EPS could land above the analysts' average estimate by 3.2%, with an estimated chance of a beat of 50.0%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency. This is a small-sample reference estimate, not company guidance.
DoorDash's record against estimates
DoorDash reported EPS above the analysts' average estimate in 2 of the last 4 quarters. Last quarter, EPS of $1.06 came in above the estimate of $0.81 by 31.4%.
Growth has picked up
Revenue growth is accelerating. Twelve-month revenue of $17.1 billion rose 35.0% on the year before, and that rate is up 1.4 percentage points from a quarter earlier. Against its own history, today's revenue growth rate is higher than 74% of past readings, which have ranged from 23.4% to 69.4%.
Operating margin has slipped year on year. The trailing operating margin is 5.3%, down 0.2 percentage points from a year earlier, though it sits above 91% of the company's past quarterly readings. Net income over the twelve months was $1.1 billion, up 23.2%, for a trailing net margin of 6.2%.
Free cash flow is in the upper portion of the company's own history, though the margin is compressing. Operating cash flow was $3.0 billion, up 16.8%. Capital spending of $262.0 million is 1.5% of revenue, leaving free cash flow of $2.7 billion, up 17.4%. The free-cash-flow margin is 15.8%, down 2.4 percentage points from a year earlier but higher than 57% of past readings, which have ranged from 2.9% to 19.7%. The average diluted share count fell 1.6% over the year.
Questions this report will answer
The report will answer whether the pick-up in revenue growth continues, whether results land above or below the analysts' expectations set out above, and whether margins hold at the trailing levels.
What DoorDash's share price implies against our model
In our model, growth five percentage points lower would lower the value by 23.2%, and five percentage points higher would raise it by 29.6%. A free-cash-flow margin one percentage point lower would lower the value by 6.2%.
