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DoorDash (DASH) stock

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NASDAQ: DASH Nasdaq Specialized Consumer Services Next results ~February 17, 2027

B Fundamentals grade

DoorDash connects merchants, consumers and independent delivery workers known as Dashers through its DoorDash, Wolt and Deliveroo marketplaces, alongside a separate Commerce Platform. The marketplaces let people discover and order from local merchants, with fulfilment handled by Dashers, who choose when and where to work. The Commerce Platform offers white-label delivery (branded Drive) plus tools such as online ordering, branded apps, reservations and customer relationship management, letting merchants run their own channels.

Money comes from several sources: fees charged to merchants based on transaction size, delivery and service fees paid by consumers, advertising sold to merchants and consumer packaged goods firms, and membership programmes (DashPass, Wolt+ and Deliveroo Plus) that lower per-order fees in exchange for a subscription. Dashers are paid per active time or completed task, factoring in distance and desirability.

The marketplaces operate in more than 40 countries, including the United States, and generate the great majority of group revenue; local food delivery logistics is described as its largest and most competitive category. In December 2025 the marketplaces served over 56 million monthly active users, with more than 35 million paid, trial or partnership members, and the company employed over 31,400 people worldwide. Originally incorporated in 2013 as Palo Alto Delivery Inc., it was renamed DoorDash in 2015.

Based on DoorDash's 10-K filed February 18, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$170

Cash-flow model

Base case. Range ~$130–$220 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 10% above our base value.

Price used: $190.07, November 2, 2026

DoorDash valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter DoorDash files

10-Q filed October 30: DoorDash

Rating: Sell to Hold Model value +16.5%

Revenue for the twelve months to September 2026 was $17.1bn, up 35.0% on a year earlier, faster than the 33.6% growth a quarter earlier. That growth ranks 3 of 15 among the specialized consumer services companies we cover. Free-cash-flow margin fell to 15.8% from 18.1% a year earlier. Our model value rises from $149 to $173 a share, against a share price of $179. The rating changes from Sell to Hold. At that price, our model says the market is pricing in about 20.9% a year of cash-flow growth for five years, slower than the 28.4% a year revenue growth it has delivered.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where DoorDash stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $15.9bn, up 33.6% on a year earlier, faster than 31.0% a quarter earlier. That growth ranks 77 of 931 among all the companies we cover. Free-cash-flow margin held at 16.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $149 a share, against a share price of $192. At that price, our model says the market is pricing in about 25.0% a year of cash-flow growth for five years, close to the 26.6% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 17, 2027 (estimated)

DoorDash's trailing-twelve-month revenue grew 35.0% year on year, with a free-cash-flow margin of 15.8%. Where it stands out: revenue growth of 35.0% ranks 3 of 18 specialized consumer services companies we cover. Where it lags: stock pay as % of revenue of 6.6% ranks 15 of 16 specialized consumer services companies we cover.

Our discounted-cash-flow model values the business at ~$170 per share in the base case (~$130–$220 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 35.0% (+1.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 35.0% over the last 12 months, against a median of 6.7% for specialized consumer services companies we cover.
  • Shrinking share count. Diluted shares fell 1.6% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $2.3bn.

Things to watch

  • High earnings multiple. The shares trade at 79 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 1.3 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 6.6% ranks 15 of 16 specialized consumer services companies we cover (median 2.0%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$1.06 against an average estimate of $0.81: beat by 31.4%
Revenue
$4.62bn, up 34.0% on a year earlier
Share reaction
+5.6% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
marketplace GOV $35.4bn to $36.4bn (Q4 2026); adjusted EBITDA $900m to $1,100m (Q4 2026)
Next report
October 29, 2026; average EPS estimate $1.58

DoorDash's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+6.2%
  • 1 week+12.8%
  • 1 month+0.5%
  • This year-16.1%
  • 1 year-25.3%
  • 5 years-7.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$17.1B
Operating margin
5.3%
Net margin
6.2%
EPS (TTM, diluted)
$2.41

Growth

Revenue growth
+35.0%
Change in growth rate
+1.4 pts
Share count change
−1.6%

Cash

Free cash flow (TTM)
$2.7B
FCF margin
15.8%
Stock pay % of revenue
6.6%

Earnings

Last results
October 29, 2026
Next results (est.)
February 17, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Deal
  4. Guidance
  5. Results

    DoorDash sets 4 November for Q3 2026 earnings release

    DoorDash said it will publish its third quarter 2026 financial results after the US market close on 4 November 2026. The company will host a conference call at 1:30 p.m. PT to discuss the figures and guidance. A replay of the call will be available on the investor relations website.

    Company releaseRead source ↗
  6. Insider trade
  7. Announcement
  8. Announcement
  9. Announcement
  10. Announcement
  11. Announcement
  12. Announcement
  13. Announcement
  14. Insider trade
  15. Announcement
  16. Announcement
  17. Partnership
  18. Shareholder vote
  19. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

DoorDash valuation models and calculator

What the price is pricing in

The share price implies about 21.4% a year of cash-flow growth for five years.That is slower than the 28.4% a year revenue growth DoorDash has delivered.

  • Priced in21.4%
  • Last 12 months35.0%
  • 3 years a year27.9%
  • 5 years a year28.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($183.75, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$170
Price used
$183.75close November 3, 2026
Implied change
▼ 6%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of DoorDash's free cash flow after stock-based pay with after-tax interest added back ($1.6B, FY2026 Q3 TTM), growing 21.1% and 20.3% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$130–~$220 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of DoorDash's free cash flow after stock-based pay ( $1.6B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value DoorDash as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$170 ~$130–$220 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$90 ~$60–$110 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$50 ~$42–$78 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.4 ~$0.4–$3.1 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$50–$170 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare DoorDash with Specialized Consumer Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▼ −13%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $60$78$103$135$178$233
8.5% $47$61$79$102$132$171
10% $40$50$64$82$105$134

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$142.75$148.90$48.82$98.89$167.75$226.48$190.07
Market value$8.9bn$50.2bn$18.1bn$38.9bn$72.2bn$99.6bn$83.9bn
+ Net debt (− = net cash)−$4.0bn−$2.5bn−$2.0bn−$2.7bn−$4.0bn−$1.7bn−$2.3bn
Enterprise value$4.9bn$47.7bn$16.2bn$36.2bn$68.2bn$97.9bn$81.5bn
Multiples
Price / sales 3.1x10.3x2.8x4.5x6.7x7.3x4.9x
Price / earnings ————n/m106.5x78.9x
Price / free cash flow 61.0x89.1x94.9x25.1x35.6x45.8x31.2x
EV / EBITDA ————130.3x66.6x40.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard DoorDash's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -5.3% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -6.5%; its worst year was -15.0%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 6 of 6 years, at a median 14.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (45 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.79 +31% $17.9bn +31%
Next $4.56 +64% $21.7bn +21%

Next year's EPS estimate has moved +3.5% in 90 days, across 35 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +10.1% on 90 days ago. In the last 30 days, 1 analyst raised DoorDash's forecast and 3 cut it.

Consensus EPS forecast DoorDash, last 90 days
$2.00 $3.00 $4.00 $5.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.53 Current fiscal year, 60 days ago: $2.61 Current fiscal year, 30 days ago: $2.59 Current fiscal year, 7 days ago: $2.57 Current fiscal year, Now: $2.79 $2.79 Next fiscal year, 90 days ago: $4.41 Next fiscal year, 60 days ago: $4.46 Next fiscal year, 30 days ago: $4.48 Next fiscal year, 7 days ago: $4.49 Next fiscal year, Now: $4.56 $4.56

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.53$4.41
60 days ago $2.61$4.46
30 days ago $2.59$4.48
7 days ago $2.57$4.49
Now $2.79$4.56

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.81 $1.06 +31.4%
Jun 2026 $0.47 $0.46 −2.4%
Mar 2026 $0.36 $0.42 +15.4%
Dec 2025 $0.58 $0.48 −17.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • stock-based compensation expense 2026 about $1.2bn Lowered vs 1.2bn to 1.3bn
    “2026 stock-based compensation expense of approximately $1.2 billion.” source
  • impact on Free Cash Flow from year-end merchant payment timing 2026 $700m to $800m Non-GAAP
    “2026 year-end timing for merchant payments compared to the end of 2025 is expected to reduce reported 2026 Free Cash Flow by between $700 million and $800 million.” source
  • Marketplace GOV Q4 2026 $35.4bn to $36.4bn
    “Q4 2026 $35.4 billion - $36.4 billion $900 million - $1,100 million” source
  • Adjusted EBITDA Q4 2026 $900m to $1,100m Non-GAAP
    “Q4 2026 $35.4 billion - $36.4 billion $900 million - $1,100 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows DoorDash's revenue by +21.1% next year and +20.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+21.6%, weight 70%) and the company's own record (+20.0%, weight 30%) . How the weights are set.

Analyst recommendations

42 analysts, Oct 2026
Buy3481%
Hold819%
Sell00%

Monthly trend

  1. Oct 2026925842
  2. Sep 20269271046
  3. Aug 20268281046
  4. Jul 2026927945

Counts of recommendations published by analysts covering DoorDash, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.1%
of tradable shares
Days to cover
4.21
at average volume
Short interest, 1 month
+2%
to October 15, 2026
Held by institutions
96%
of shares
Held by insiders
0.6%
of shares
Employees
31,400
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −25.3%

$254.37 on October 31, 2025 to $190.07

ThenNowEffect
Revenue (last 12 months) $11.9bn $15.9bn +33.6%
Net margin 6.6% 5.3% −19.4%
P/E multiple 144.8x 99.8x −31.1%
Share count 445m 442m +0.7%

Biggest factor: p/e multiple.

Last 3 years +105.5%

$92.49 on November 3, 2023 to $190.07

ThenNowEffect
Revenue (last 12 months) $7.7bn $15.9bn +106.7%
P/S multiple 4.7x 5.3x +13.2%
Share count 388m 442m −12.2%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DASH+4%−67%+103%+70%+35%−16%
Industry peers (median)+17%−53%−28%+8%−8%−35%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DASH50%25%58%67%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DASH−48%−71%−22%−29%−33%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 9, 2020: 83% from November 12, 2021 to October 14, 2022. Getting back needed a 471% gain, reached on June 30, 2025, 990 days after the low.

Price behaviour

52-week range
$146.60 – $242.05
From 52-week high
−21.5%
vs 50-day average
−3.6%
vs 200-day average
+4.1%
Volatility (1 year)
50%
Beta vs S&P 500
1.29

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±7.2%
After a week
6 up, 5 down
typical move ±8.3%
After a month
5 up, 6 down
typical move ±8.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +5.6% −2.1% — —
August 5, 2026 +5.4% −0.4% +5.0% +9.7%
May 6, 2026 +3.1% +1.1% −10.3% −5.6%
February 18, 2026 +8.5% +0.2% +6.6% −1.9%
November 5, 2025 −18.1% −0.7% −18.1% −6.2%
August 6, 2025 +6.2% +0.7% −0.4% −3.3%
May 6, 2025 −13.8% −0.4% −3.7% +5.1%
February 11, 2025 +4.3% −0.2% +10.7% −7.4%
October 30, 2024 +1.0% −2.3% +9.3% +16.3%
August 1, 2024 +5.9% −3.3% +12.7% +16.2%
May 1, 2024 −11.6% +0.6% −12.6% −14.8%
February 15, 2024 −3.3% +0.2% +1.5% +8.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How DoorDash’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.19× the last 60 days’ realised volatility , richer than 52% of the 229 stocks we screen today.
  • Puts are priced 4 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

DASH DoorDash Grade B $187.95

Own 100 shares, sell the $220 call expiring December 18, 2026 (46 days) for $3.25 a share — $325 per contract.

Previous session · Bid $3.25, ask $4.30, quoted Mon 2 Nov, 17:20 New York time with DASH at $187.95. Option prices move with the shares: check the live chain at your broker before trading.

  • If DASH ends below $220: you keep your shares and the $325 — 1.7% extra on the position, 13.7% a year at that pace.
  • If it ends above $220: your shares are sold at $220, a total return of 18.8% including the premium — at or above our value of ~$170.
$3.5k $0 −$3.7k Our value $170 Break-even $184.7 Price $187.95
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$325
Annualised
13.7%
Break-even
$184.7
Max gain
$3,530
Chance of selling
~22%

Collar

Own the shares, buy the $170 put and sell the $220 call, both expiring December 18, 2026 (46 days).

  • Net cost of $3.55 a share ($355 per contract of 100 shares).
  • Worst case at expiry: -11.4%, if the shares fall below $170 (-9.6% from today).
  • Best case at expiry: +15.2%, if the shares rise above $220 (+17.1%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $170: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

DoorDash in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) DoorDash
$5B $10B $15B $20B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $8.6B Revenue (TTM), FY24 Q1: $9.1B Revenue (TTM), FY24 Q2: $9.6B Revenue (TTM), FY24 Q3: $10.2B Revenue (TTM), FY24 Q4: $10.7B Revenue (TTM), FY25 Q1: $11.2B Revenue (TTM), FY25 Q2: $11.9B Revenue (TTM), FY25 Q3: $12.6B Revenue (TTM), FY25 Q4: $13.7B Revenue (TTM), FY26 Q1: $14.7B Revenue (TTM), FY26 Q2: $15.9B Revenue (TTM), FY26 Q3: $17.1B $17.1B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $8.6B
FY24 Q1 $9.1B
FY24 Q2 $9.6B
FY24 Q3 $10.2B
FY24 Q4 $10.7B
FY25 Q1 $11.2B
FY25 Q2 $11.9B
FY25 Q3 $12.6B
FY25 Q4 $13.7B
FY26 Q1 $14.7B
FY26 Q2 $15.9B
FY26 Q3 $17.1B
Revenue growth, TTM YoY DoorDash
20% 25% 30% 35% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 31.2% Revenue growth, TTM YoY, FY24 Q1: 27.2% Revenue growth, TTM YoY, FY24 Q2: 25.0% Revenue growth, TTM YoY, FY24 Q3: 24.6% Revenue growth, TTM YoY, FY24 Q4: 24.2% Revenue growth, TTM YoY, FY25 Q1: 23.4% Revenue growth, TTM YoY, FY25 Q2: 23.8% Revenue growth, TTM YoY, FY25 Q3: 24.5% Revenue growth, TTM YoY, FY25 Q4: 27.9% Revenue growth, TTM YoY, FY26 Q1: 31.0% Revenue growth, TTM YoY, FY26 Q2: 33.6% Revenue growth, TTM YoY, FY26 Q3: 35.0% 35.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 31.2%
FY24 Q1 27.2%
FY24 Q2 25.0%
FY24 Q3 24.6%
FY24 Q4 24.2%
FY25 Q1 23.4%
FY25 Q2 23.8%
FY25 Q3 24.5%
FY25 Q4 27.9%
FY26 Q1 31.0%
FY26 Q2 33.6%
FY26 Q3 35.0%
Operating margin (TTM) DoorDash
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -6.7% Operating margin (TTM), FY24 Q1: -5.1% Operating margin (TTM), FY24 Q2: -4.8% Operating margin (TTM), FY24 Q3: -2.4% Operating margin (TTM), FY24 Q4: -0.4% Operating margin (TTM), FY25 Q1: 1.6% Operating margin (TTM), FY25 Q2: 4.6% Operating margin (TTM), FY25 Q3: 5.5% Operating margin (TTM), FY25 Q4: 5.3% Operating margin (TTM), FY26 Q1: 4.9% Operating margin (TTM), FY26 Q2: 4.5% Operating margin (TTM), FY26 Q3: 5.3% 5.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -6.7%
FY24 Q1 -5.1%
FY24 Q2 -4.8%
FY24 Q3 -2.4%
FY24 Q4 -0.4%
FY25 Q1 1.6%
FY25 Q2 4.6%
FY25 Q3 5.5%
FY25 Q4 5.3%
FY26 Q1 4.9%
FY26 Q2 4.5%
FY26 Q3 5.3%
FCF margin (TTM) DoorDash
14% 16% 18% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 18.0% FCF margin (TTM), FY24 Q1: 19.0% FCF margin (TTM), FY24 Q2: 19.4% FCF margin (TTM), FY24 Q3: 19.7% FCF margin (TTM), FY24 Q4: 18.9% FCF margin (TTM), FY25 Q1: 18.3% FCF margin (TTM), FY25 Q2: 16.7% FCF margin (TTM), FY25 Q3: 18.1% FCF margin (TTM), FY25 Q4: 15.8% FCF margin (TTM), FY26 Q1: 14.6% FCF margin (TTM), FY26 Q2: 16.3% FCF margin (TTM), FY26 Q3: 15.8% 15.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 18.0%
FY24 Q1 19.0%
FY24 Q2 19.4%
FY24 Q3 19.7%
FY24 Q4 18.9%
FY25 Q1 18.3%
FY25 Q2 16.7%
FY25 Q3 18.1%
FY25 Q4 15.8%
FY26 Q1 14.6%
FY26 Q2 16.3%
FY26 Q3 15.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar DoorDash took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $13.7B
  2. Other income $219M · 1.6%
  3. Research and development $1.4B · 10.4%
  4. Selling, general and admin $4.1B · 29.7%
  5. Other operating costs $7.5B · 54.6%
  6. Operating income $723M · 5.3%
  7. Net income $935M · 6.8%

Shares of revenue. Source: DoorDash's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 0.3 0.9 2.9 4.9 6.6 8.6 10.7 13.7 17.1
EBITDA −0.2 −0.6 −0.3 −0.3 −0.8 −0.1 0.5 1.5 2.0
Operating income −0.2 −0.6 −0.4 −0.5 −1.1 −0.6 −0.0 0.7 0.9
Net income −0.2 −0.7 −0.5 −0.5 −1.4 −0.6 0.1 0.9 1.1
Diluted EPS −$4.67 −$15.44 −$7.39 −$1.39 −$3.68 −$1.42 $0.29 $2.13 $2.41
Growth (year on year)
Revenue — +204.1% +226.1% +69.4% +34.7% +31.2% +24.2% +27.9% +35.0%
EBITDA — — — — — — — +181.1% +55.2%
Operating income — — — — — — — — +29.3%
Net income — — — — — — — — +23.2%
Diluted EPS — — — — — — — — +25.1%
Margins
EBITDA margin −69.1% −66.0% −10.9% −6.1% −11.5% −0.8% 4.9% 10.7% 12.0%
Operating margin −72.2% −69.6% −15.1% −9.2% −17.1% −6.7% −0.4% 5.3% 5.3%
Net margin −70.1% −75.4% −16.0% −9.6% −20.7% −6.5% 1.1% 6.8% 6.2%
Free-cash-flow margin −59.1% −61.6% 5.1% 11.5% 2.9% 18.0% 18.9% 15.8% 15.8%
Cash flow
Cash from operations −0.2 −0.5 0.3 0.7 0.4 1.7 2.1 2.4 3.0
Capital spending 0.0 0.1 0.1 0.1 0.2 0.1 0.1 0.3 0.3
Free cash flow −0.2 −0.5 0.1 0.6 0.2 1.6 2.0 2.2 2.7
Stock-based pay 0.0 0.0 0.3 0.5 0.9 1.1 1.1 1.1 1.1
Free cash flow after stock pay −0.2 −0.6 −0.2 0.1 −0.7 0.5 0.9 1.1 1.6
Balance sheet
Cash 0.2 0.3 4.3 2.5 2.0 2.7 4.0 4.4 5.1
Total debt 0.0 0.0 0.4 0.0 0.0 0.0 0.0 2.7 2.7
Net debt (negative = net cash) −0.2 −0.3 −4.0 −2.5 −2.0 −2.7 −4.0 −1.7 −2.3
Diluted shares 44m 43m 62m 337m 371m 393m 430m 440m 441m
Returned to shareholders
Buybacks 0.1 0.0 0.0 0.0 0.4 0.8 0.2 0.0 1.0
Total returned 0.1 0.0 0.0 0.0 0.4 0.8 0.2 0.0 1.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 6 checks passed · September 30, 2026
What it owns · $20.6bn
Short-term assets $9.4bnLonger-term assets $11.2bn
What it owes, and who funded it · $20.6bn
Short-term liabilities $6.4bnLonger-term liabilities $3.5bnShareholders' equity $10.7bn
  • Short-term assets cover short-term liabilities $9.4bn of assets due within a year against $6.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $9.4bn short-term assets against $3.5bn of longer-dated liabilities.
  • More cash than debt $5.1bn of cash against $2.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 25% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $3.0bn of operating cash flow against $2.7bn of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From DoorDash's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$1B
Returned to shareholders
39%
of free cash flow
Buybacks, last 3 fiscal years
$974M
Diluted share count
−1.6%
year over year
Total shareholder yield
1.3%
dividends 0.0% + buybacks 1.3% of market value
R&D spending
10.8%
of revenue
Days sales outstanding
26 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in specialized consumer services
Last 12 months unless stated DASH ADT SCI HRB BFAM FTDR Median
Revenue, last 12 months $17.1bn $5.2bn $4.4bn $3.9bn $3.1bn $2.1bn $222m
Revenue growth, last 12 months 35.0% 2.1% 3.0% 4.9% 6.7% 9.3% 5.8%
Revenue growth, 3-year average 27.9% 1.7% 2.8% 4.4% 9.6% 7.8% 3.7%
Revenue growth, latest quarter 34.0% 2.0% 4.6% 3.0% 4.8% 4.5% 2.8%
Gross margin — — 25.9% 44.3% 22.8% 55.5% 35.1%
Operating margin 5.3% 25.0% 22.7% — 0.1% — 2.2%
Operating margin, 3-year average 2.8% 25.2% 22.4% — 6.6% — −3.8%
Net margin 6.2% 11.9% 12.7% 18.6% −4.4% 12.8% 1.9%
Cash from operations / revenue 17.3% 41.8% 24.5% 21.3% 11.6% 19.1% 8.7%
Free-cash-flow margin 15.8% 38.1% 15.4% 19.2% 8.3% 18.0% 6.6%
Free-cash-flow margin, 3-year average 17.9% 36.1% 14.8% 17.8% 8.2% 15.5% 5.7%
Stock pay / revenue 6.6% 1.1% 0.4% 0.8% 1.0% 1.8% 1.9%
Change in share count −1.6% 0.7% −3.4% −6.2% −8.6% −5.1% 4.4%

Median of all 18 companies we cover in specialized consumer services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

18 specialized consumer services companies
Measure Company Peer median Rank
Revenue growth Growth 35.0% 6.7% 3 of 18
Change in growth rate Growth +1.4pp -1.2pp 4 of 18
Operating margin Profitability 5.3% 4.3% 7 of 16
Net margin Profitability 6.2% 3.1% 7 of 18
Free-cash-flow margin Cash generation 15.8% 8.3% 6 of 18
Stock pay as % of revenue Cash generation 6.6% 2.0% 15 of 16
Long-term debt as % of assets Balance sheet 13.3% 26.1% 5 of 15
Change in share count Balance sheet -1.6% 7.2% 5 of 15
Days sales outstanding Balance sheet 26 days 19 days 8 of 11

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $11.5B 83.5% ▲ 21.9%
Outside the US $2.3B 16.5% ▲ 71.1%

From DoorDash's 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$70.8B
Institutions reporting
1,037
Shares held vs prior quarter
▲ 5.1%
Positions opened / closed
150 / 130

Top buyers and sellers, Q2 2026: 554 institutions bought and 483 sold ; the biggest buyer was Capital Research Global Investors (+5.8M shares) and the biggest seller Wellington Management Group LLP (−2.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Sc Us (Ttgp), Ltd. $5.8B 31.6M 8.2% 0.0%
Blackrock, Inc. $5B 26.9M 7.0% ▲ 1.5%
Vanguard Capital Management LLC $4.5B 24.4M 6.4% ▲ 4.2%
Vanguard Portfolio Management LLC $3.2B 17.5M 4.6% ▲ 6.2%
State Street Corp $3B 16.1M 4.2% ▲ 3.2%
Price T Rowe Associates Inc $2.7B 14.7M 3.8% ▲ 9.1%
Morgan Stanley $2.7B 14.5M 3.8% ▲ 0.1%
Jpmorgan Chase & Co $2.5B 13.4M 3.5% ▲ 26.5%
Invesco Ltd. $2.4B 13.1M 3.4% ▲ 3.1%
Capital Research Global Investors $2B 10.9M 2.9% ▲ 114.4%
Capital World Investors $1.9B 10.4M 2.7% ▲ 26.1%
Geode Capital Management, LLC $1.7B 9.1M 2.4% ▲ 1.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not DoorDash's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $100M 13 trades by 2 insiders, last 12 months Insider sales History → $324M 339 trades by 10 insiders · 70% under pre-set plans
Net ▼ $224M net selling
Insider Date Trade Shares Price Value
Inukonda Ravi CHIEF FINANCIAL OFFICER October 12, 2026 Sell pre-set plan 1,017 $195.00 $198,315
Tang Stanley Director October 2, 2026 Sell pre-set plan 500 $189.28 $94,638
Tang Stanley Director October 2, 2026 Sell pre-set plan 6,326 $188.87 $1.2M
Tang Stanley Director October 2, 2026 Sell pre-set plan 3,999 $187.70 $750,608
Tang Stanley Director October 2, 2026 Sell pre-set plan 1,800 $186.62 $335,923
Tang Stanley Director October 2, 2026 Sell pre-set plan 1,600 $185.79 $297,266
Tang Stanley Director October 2, 2026 Sell pre-set plan 2,900 $184.56 $535,210
Tang Stanley Director October 2, 2026 Sell pre-set plan 3,500 $183.50 $642,246
Tang Stanley Director October 2, 2026 Sell pre-set plan 1,500 $182.42 $273,624
Tang Stanley Director October 2, 2026 Sell pre-set plan 1,000 $181.42 $181,419
Yandell Keith INTERNATIONAL COO October 1, 2026 Sell pre-set plan 2,183 $183.69 $400,995
Fang Andy Director October 1, 2026 Sell pre-set plan 5,000 $183.69 $918,450

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 55 trades and filings

In the last 12 months, 2 members of Congress disclosed 18 purchases and 4 sales of DoorDash shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded August 28, 2026, filed September 10, 2026
  • Tim Moore(R-NC 14):Sale (full), $1,001 - $15,000, traded June 9, 2026, filed July 9, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded May 29, 2026, filed June 8, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 17, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • August 5, 2026
  • May 6, 2026
  • February 18, 2026
  • November 5, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on DoorDash was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

DoorDash in brief

What does DoorDash do?
DoorDash is a US-listed company in the specialized consumer services industry. Its financial year ends in December.
What is DoorDash's stock ticker?
DoorDash trades under the ticker DASH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is DoorDash's revenue, and how fast is it growing?
Over its most recent trailing twelve months, DoorDash reported revenue of $17.1B, 35.0% higher than a year earlier, according to its SEC filings.
What is DoorDash's free cash flow?
DoorDash's free-cash-flow margin is 15.8% of revenue over the trailing twelve months, ranking 6 of the 18 specialized consumer services companies we cover.
What is DoorDash's fair value (intrinsic value) per share?
Our discounted-cash-flow model of DoorDash's free cash flow after stock-based pay gives ~$170 per share in the base case, and ~$130–$220 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are DoorDash's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Sc Us (Ttgp), Ltd., Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is DoorDash buying back stock, and does it pay a dividend?
DoorDash spent $1B on share repurchases over the trailing twelve months, and its diluted share count fell 1.6% over the year.
What is DoorDash's market cap?
On November 2, 2026, DoorDash's market capitalisation was about $83.9B, with a price-to-earnings ratio of 78.9 and net debt of -$2.3B. Market figures come from third-party market data and may be delayed.
How much debt does DoorDash have?
DoorDash's debt-to-equity ratio is 25.5%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are DoorDash's competitors?
In our Specialized Consumer Services peer group, the companies closest to DoorDash are ADT Inc., Service Corp International, H&R Block Inc, Bright Horizons Family Solutions Inc. and Frontdoor, Inc. The side-by-side comparison below sets their revenue, margins and growth against DoorDash's.
Are insiders buying or selling DoorDash stock?
Over the last 12 months, DoorDash's directors and officers reported 13 open-market purchases and 339 sales on Form 4. The insider trading page charts every trade.
When is DoorDash's next earnings date?
Around February 17, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — DoorDash announces its own schedule.