DoorDash, Inc. (DASH)

Consumer Discretionary · Specialized Consumer Services · US stock · S&P 500 component

$185.94 ▲ +1.49 (0.81%)

At close 22 Oct 2026 · USD · Volume 4,112,337

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$213 +14.7% to fair value

$107fair band $181–$258$320

Day's range

$181.00 – $187.46

52-week range

$143.30 – $269.00

About DoorDash, Inc.

DoorDash runs an online platform that connects consumers with local merchants, mainly restaurants, grocery stores and retailers, for delivery and pickup. Independent couriers known as Dashers carry the orders, and merchants use the company's tools for ordering, payments and marketing. The service is available in the United States and several other countries, and the company also offers a paid membership called DashPass.

The business earns revenue mainly from commissions charged to merchants, delivery fees paid by consumers, membership fees and advertising. Over the last twelve months revenue was $15.9 billion, and it has grown at 27.7% a year across the last three years. The operating margin is 4.5%, and the business earns a profit of 14% on the capital invested in it. The company does not pay a dividend. On the site's X-Ray Score it receives 54 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $143.30 – $269.00Volume 4,112,337Daily, split-adjusted

Vitals

Market cap$81.7B

52-week range$143.30 – $269.00

Volume (last day)4,112,337

P/E (TTM)97.5

EBIT / EV yield0.9%

Free-cash-flow yield3.2%

Dividend yieldNo dividend

Revenue (TTM)$15.9B

Net income (TTM)$841M

Operating margin4.5%

Return on capital14.0%

Debt incl. leasesData missing

Cash & securities$5.3B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$213middle half of models $199 – $228

Fair +14.7% to fair value

Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $186

Undervalued < $181Fair $181 – $258Overvalued > $258

P/E multiple

$198

P/B multiple

$190

P/S multiple

$201

EV/EBITDA multiple

$205

EV/EBIT multiple

$195

EV/revenue multiple

$201

10-year DCF, EBITDA exit

$228

5-year DCF, EBITDA exit

$252

10-year DCF, revenue exit

$227

5-year DCF, revenue exit

$234

10-year DCF, growth exit · not used

$54

5-year DCF, growth exit · not used

$47

Earnings power value · not used

$16

Growth the price implies

43.8%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 46 The price is not above fair value $213 fair value Debt looks manageable Revenue has been growing 27.7% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

39/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield0.9%

Free-cash-flow yield3.2%

Fair value vs price1.1×

Growth Strong

92/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)27.7%

Growth consistency100%

Profitability Weak

37/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital14.0%

Operating margin4.5%

Financial health Fair

55/100

Balance sheet is in typical shape for its sector.

See the numbers →

Piotroski F-Score6 / 9

Interest coverNo interest cost

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+20.7%

Mar '25

+24.9%

Jun '25

+27.3%

Sep '25

+37.7%

Dec '25

+33.1%

Mar '26

+35.6%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $4.5B, diluted EPS $0.46.

SWOT analysis: DoorDash, Inc.

Strengthsinside the company

Revenue has grown 27.7% a year over three years (median 6.4% for sector peers).
Operating profit covers interest 50x, so debt costs are a small drag.

Weaknessesinside the company

Return on invested capital of 14.0% is well below the 24.9% median of sector peers.
Operating margin of 4.5% is thin against 15.0% for sector peers.
Altman Z-score of 1.3 is in the zone linked with financial distress in past studies.

Opportunitiesvaluation and setting

No specific opportunity is visible in our valuation, sector or growth data.

Threatsvaluation and setting

Trades at 97.1x earnings, 368% above the 20.7x median of sector peers, so the price already assumes better results.
The price trend is down on the daily and weekly signals.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare DASH with peers and sector

Medians of 46 Consumer Discretionary peers and of 46 Consumer Discretionary stocks in our universe. Largest peers (X-Ray Score): AMZN 42, TSLA 28, HD 40, MCD 53, TJX 55, BKNG 70.

Metric	DASH	Peers	Sector
X-Ray Score (out of 100)	54	50	50
Valuation	39	49	49
Growth	92	50	50
Profitability	37	52	52
Financial health	55	49	49
Dividends	–	52	52

Sector leaders: highest X-Ray Score in Consumer Discretionary

DASH ranks #16 of 47 in Consumer Discretionary by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 DECK Deckers Outdoor Corp	85
#2 LULU lululemon athletica inc.	76
#3 BKNG Booking Holdings Inc.	70
#4 LVS Las Vegas Sands Corp	64
#5 CMG Chipotle Mexican Grill Inc	64
…
#16 DASH DoorDash, Inc. (this stock)	54

Metric	DASH	Peers	Sector
P/E ratio	97.1x	20.7x	20.7x
PEG ratio	–	1.93	1.93
Price / book	8.2x	6.9x	6.9x
Price / sales	5.1x	2.1x	2.1x
EV / EBITDA	44.6x	14.6x	14.6x
Price / free cash flow	31.5x	22.2x	22.2x
Dividend yield	–	1.9%	1.9%
Gap to our fair value	+14.7%	+3.5%	+3.5%

Metric	DASH	Peers	Sector
Price change, 1 month	−3.3%	+4.8%	+4.8%
Price change, 3 months	+4.6%	−0.0%	−0.0%
Price change, 6 months	+2.0%	−3.3%	−3.3%
Price change, 1 year	−26.3%	−6.9%	−6.9%

Metric	DASH	Peers	Sector
Market value	$81.7B	$39.4B	$39.4B
Revenue (last 12 months)	$15.9B	$18.2B	$18.2B
EBITDA (last 12 months)	$1.7B	$2.9B	$2.9B
Net income (last 12 months)	$841M	$1.7B	$1.7B
Free cash flow (last 12 months)	$2.6B	$1.7B	$1.7B

Metric	DASH	Peers	Sector
Revenue growth, last year	+27.9%	+4.9%	+4.9%
Revenue growth, 3 years a year	+27.7%	+6.4%	+6.4%
EPS growth, 3 years a year	–	+4.0%	+4.0%
Free cash flow growth, 3 years a year	+124.9%	+10.7%	+10.7%
Dividend growth	–	+6.4%	+6.4%

Metric	DASH	Peers	Sector
Gross margin	–	42.5%	42.5%
EBITDA margin	10.8%	19.3%	19.3%
Operating margin	4.5%	15.0%	15.0%
Net margin	5.3%	11.4%	11.4%
Return on invested capital	14.0%	24.9%	24.9%
Return on equity	8.5%	36.1%	36.1%

Metric	DASH	Peers	Sector
Net debt / EBITDA	–	1.8x	1.8x
Interest cover	50.0x	22.4x	22.4x
Current ratio	1.4x	1.1x	1.1x
Piotroski F-score (0 to 9)	6	6	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for DASH

Each factor is rated by where DASH stands among the 47 Consumer Discretionary stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 8 Good · 2 Average · 9 Bad of 19 Growth: 2 · 0 · 0 Profitability: 0 · 0 · 4 Financial strength: 2 · 1 · 0 Valuation: 0 · 1 · 4 Cash flow: 4 · 0 · 0 Efficiency: 0 · 0 · 1

Factor	DASH	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+27.7%	Good beats 94%	+6.5%	–	–
Revenue growth, last year	+27.9%	Good beats 97%	+4.9%	+31.2%	▼ Worse
Profitability
Operating margin	4.5%	Bad beats 12%	14.9%	-6.7%	▲ Better
Net margin	5.3%	Bad beats 21%	11.4%	-6.5%	▲ Better
Return on invested capital	14.0%	Bad beats 30%	24.6%	–	–
Return on equity	8.5%	Bad beats 18%	35.3%	-8.2%	▲ Better
Financial strength
Interest cover	50.0x	Good beats 76%	25.3x	–	–
Current ratio	1.37	Good beats 69%	1.10	1.66	▼ Worse
Piotroski F-score	6 / 9	Average beats 49%	6 / 9	–	–
Valuation
P/E ratio	97.1x	Bad beats 6%	21.1x	–	–
Price / book	8.2x	Average beats 46%	7.2x	9.2x	▲ Better
Price / sales	5.1x	Bad beats 12%	2.1x	6.7x	▲ Better
EV / EBITDA	44.6x	Bad beats 3%	15.0x	–	–
Free cash flow yield	3.2%	Bad beats 28%	4.3%	2.2%	≈ In line
Cash flow
Free cash flow margin	16.3%	Good beats 73%	10.8%	15.8%	≈ In line
Cash from operations / net income	3.37	Good beats 88%	1.37	–	–
Free cash flow growth, 3 years a year	+124.9%	Good beats 99%	+12.1%	–	–
Accruals (lower is better)	−10.2%	Good beats 92%	−5.3%	–	–
Efficiency
Days sales outstanding	25 days	Bad beats 26%	14 days	25 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 6 Good · ● 3 Average · ● 4 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldBad

Risk models

Altman Z''Average

Piotroski F-ScoreAverage

Growth

Free-cash-flow growth (3y)Good

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioGood

Interest coverGood

Valuation

Fair value vs priceAverage

EBIT / EV yieldBad

Profitability

Return on invested capitalBad

Operating marginBad

Each check is graded against the company's sector, not a fixed number. Checklist score 55/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$4.9B	$6.6B	$8.6B	$10.7B	$13.7B
Operating income	−$452M	−$1.1B	−$579M	−$38M	$723M
Net income	−$468M	−$1.4B	−$558M	$123M	$935M
Operating cash flow	$692M	$367M	$1.7B	$2.1B	$2.4B
Operating margin	-9.2%	-17.1%	-6.7%	-0.4%	5.3%
Free cash flow	$563M	$191M	$1.6B	$2.0B	$2.2B
Diluted EPS	$-1.39	$-3.68	$-1.42	$0.29	$2.13

Fiscal years, from SEC filings.

Technical summary

Daily

Strongly bearish

1 bullish · 4 neutral · 11 bearish

Weekly

Strongly bearish

2 bullish · 1 neutral · 9 bearish

Monthly

Neutral

3 bullish · 1 neutral · 4 bearish

Moving averages (daily)

SMA 10	190.6	Bearish
EMA 10	189.3	Bearish
SMA 20	189.4	Bearish
EMA 20	191.2	Bearish
SMA 50	203.0	Bearish
EMA 50	195.0	Bearish
SMA 100	192.9	Bearish
EMA 100	193.4	Bearish
SMA 200	184.0	Bullish
EMA 200	193.3	Bearish

Oscillators (daily)

RSI (14)	43.71	Neutral
MACD (12, 26)	-2.85	Bearish
Momentum (12)	-3.97	Bearish
Stochastic %K (14)	36.79	Neutral
Williams %R (14)	-63.21	Neutral
CCI (20)	-82.35	Neutral

Pivot points (classic, last session)

175.7

178.3

182.1

Pivot

184.8

188.6

191.3

195.1

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold DASH

ETF	Share of the fund
FDN First Trust Dow Jones Internet Index	2.87%
QTEC First Trust NASDAQ-100-Technology Sect...	2.43%
XOVR ERShares Private-Public Crossover	2.04%
ARKX ARK Space Exploration & Innovation	1.78%
XLY Consumer Discretionary Select Sector S...	1.74%
CGMM Capital Group U.S. Small and Mid Cap	1.53%
VOT Vanguard Mid-Cap Growth	1.50%
QQQE Direxion NASDAQ-100 Equal Weighted Ind...	1.25%

The eight funds with the largest weight in DASH among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.