DoorDash, Inc.DASH
NasdaqGS•Consumer Cyclical•Internet Retail
DoorDash, Inc., together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and dashers in the United States and internationally. The company operates DoorDash Marketplace, Wolt Marketplace, and Deliveroo Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. It also offers consumer membership programs, DashPass, Wolt+, and Deliveroo Plus; advertising as a value-added service through its marketplaces; and white-label delivery fulfillment services, as well as services that help merchants establish online ordering, build branded mobile apps, manage reservations and in-store dining, manage consumer relationships, enable tableside order and pay, and improve customer support. The company was formerly known as Palo Alto Delivery Inc. and changed its name to DoorDash, Inc. in 2015. DoorDash, Inc. was founded in 2013 and is headquartered in San Francisco, California.
DoorDash, Inc. (DASH) reported trailing twelve months revenue of $14.72B as of March 2026, a 31.0% increase year-over-year. Quarterly revenue reached $4.04B, reflecting continued top-line momentum.
DoorDash, Inc. generated $925.00M in TTM net income, with quarterly EBITDA of $461.00M. The operating margin contracted from 5.1% to 3.7%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (3.7%) and net margin (4.5%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 6.4% a year ago, reflecting increased costs or interest expense.
DASH trades at a P/E of 70.8x (a premium multiple) and a P/S of 4.4x. The price-to-book ratio of 6.4x indicates a significant premium over book value.
The company generated $420.00M in free cash flow over the trailing twelve months, a 15.0% decrease year-over-year, indicating cash generation ability. The balance sheet shows $19.71B in total assets with $2.73B in long-term debt against $10.20B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 3.2%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~53.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF covers net income by 1.6x on average — earnings are well-supported by cash generation.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 7.8% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation