DoorDash (DASH) financials

NASDAQ · Communication Services · Internet Content & Information · 31,400 employees · CEO Tony Xu

Price: $178.99 -0.01%
Market cap: $77.6B
Enterprise value: $75.8B
Last report: Q3 '26 filed 2026-10-30
Next report: 2027-02-17 EPS est. $0.82

Revenue (TTM)$17.1B+35.0% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)7.0%+1.5 pp vs a year agoOperating income $1.19B

Net income (TTM)$1.06B+23.1% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$2.46B+23.5% vs a year agoCapex $492M

Diluted EPS (TTM)$2.42+23.1% vs a year agoSum of the last 4 quarters

Net cash$2.68B+172.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $77.6B
Revenue: $17.1B
Revenue growth: +31%
Profit margin: 6.2%
P/E: 73.4×
P/S: 4.5×
EV / EBITDA: 33.7×
Free cash flow: $2.46B
Net income: $1.06B
Revenue estimate: $17.9B
Earnings: 2027-02-17
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-29): revenue beat by 1.2%, EPS beat by 30.7%Revenue $4.62B vs $4.56B expected (+1.2%); EPS $1.06 vs $0.81 (+30.7%).
Revenue growth steady: 34.0% year on yearQ3 '26 revenue $4.62B, against an average of 33.4% over the four quarters before.
Operating margin 7.0% (TTM), +1.5 pp on a year agoOperating income grew 71.9% while revenue grew 35.0%.
Capex 2.9% of revenue (a year ago 4.2%)$492M invested in the last 4 quarters (-8.2% on a year earlier). Free cash flow $2.46B = 231.7% of net income.
Returned $1.05B to shareholders = 42.6% of free cash flowBuybacks $1.05B (a year earlier $0), dividends $0, stock-based pay $1.12B (TTM).
Diluted share count down 0.3% in a year440M diluted shares in Q3 '26, 442M a year earlier.
Net cash $2.68BCash + short-term investments $5.98B, debt incl. leases $3.3B; a year ago net cash $986M.
Reportable Segment: revenue +34.0%, margin 9.6% (was 7.5%)Fastest-growing reported segment in Q3 '26: operating income $442M on revenue $4.62B (from the segment note of the filing).

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$4.62B	$3.45B	+34.0%
Gross margin	53.0%	51.0%	+1.9 pp
Operating income	$442M	$258M	+71.3%
Operating margin	9.6%	7.5%	+2.1 pp
Net income	$466M	$244M	+91.0%
Diluted EPS	$1.06	$0.55	+92.7%
Operating cash flow	$994M	$871M	+14.1%
Capex	$207M	$148M	+39.9%
Free cash flow	$787M	$723M	+8.9%
R&D	$499M	$355M	+40.6%
Stock-based compensation	$267M	$258M	+3.5%

Reported vs consensus

2026-10-29

	Actual	Consensus	vs consensus
Revenue	$4.62B	$4.56B	+1.2%
EPS (as estimated)	$1.06	$0.81	+30.7%

From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y	12 quarters
Reportable Segment	$4.62B	+34.0%	100.0%	$17.1B	–

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y	12 quarters
United States	$3.62B	+23.7%	78.4%	$13.2B	+21.2%
Non-US	$997M	+91.7%	21.6%	$3.83B	+122.5%

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Reportable Segment	$4.62B	+34.0%	$442M	+71.3%	9.6%	7.5%	$896M

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $2.95B
Capex: -$492M
Buybacks: -$1.05B
Dividends: $0
Acquisitions: -$3.01B
Net debt issued: $0
Stock-based compensation: $1.12B
Free cash flow: $2.46B
Returned to shareholders / FCF: 42.6%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	73.4×	331.3× 2 of 5 years	103.4× – 559.2×
EV / EBITDA	33.7×	74.0× 2 of 5 years	56.6× – 91.4×
EV / Sales	4.4×	5.9×	2.5× – 9.8×
Price / FCF	31.5×	217.1×	28.8× – 863.4×
Price / Book	7.3×	7.5×	2.7× – 10.7×
FCF yield	3.2%	1.9%	0.1% – 3.5%
Return on invested capital	8.0%	-5.3%	-15.1% – 5.3%
Return on equity	10.4%	-5.5%	-20.2% – 9.3%

Analysts

Consensus target $247.59 (+38.3%)
range $190.00 – $350.00 · rating Buy

Strong buy1

Buy30

Hold10

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$17.9B	+30.8%	$2.76	+29.5%	64.9×	26
FY2027	$21.7B	+21.0%	$4.78	+73.2%	37.5×	27
FY2028	$25.8B	+18.8%	$7.23	+51.3%	24.8×	23
FY2029	$31B	+20.2%	$11.12	+53.8%	16.1×	10
FY2030	$36.2B	+16.7%	$14.79	+33.0%	12.1×	10

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 234 figures DoorDash, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$333M	$257M	+29.6%	$397M	$321M	+23.7%
Accounts Receivable, after Allowance for Credit Loss, Current	$1.21B	$894M	+35.6%	$1.11B	$732M	+51.4%
Accounts Receivable, Allowance for Credit Loss	$59M	$41M	+43.9%	$45M	$22M	+104.5%
Accounts Receivable, Credit Loss Expense (Reversal)	$16M	$15M	+6.7%	$37M	$15M	+146.7%
Accrued Advertising, Current	$192M	$166M	+15.7%	$170M	$142M	+19.7%
Accrued Employee Benefits	$304M	–	–	–	–	–
Accrued Liabilities, Current	$5.95B	$4.79B	+24.2%	$5.65B	$4.05B	+39.4%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$97M	$268M	-63.8%	$261M	-$107M	+343.9%
Additional Paid in Capital	$15.1B	$13.8B	+10.0%	$14.1B	$13.2B	+7.0%
Adjustments to Additional Paid in Capital, Warrant Issued	–	–	–	$341M	–	–
Advertising Expense	–	–	–	$1.6B	$1.3B	+23.1%
Amortization of Intangible Assets	$113M	$36M	+213.9%	$212M	$125M	+69.6%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	29.3M	28.8M	+1.6%	21.4M	10.9M	+96.8%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$332M	$307M	+8.1%	$1.25B	$1.26B	-1.4%
Assets	$20.6B	$18B	+14.5%	$19.7B	$12.8B	+53.0%
Assets, Current	$9.36B	$10.5B	-10.8%	$8.64B	$7.39B	+17.0%
Assets, Fair Value Disclosure	$5.36B	–	–	$3.77B	$4.45B	-15.2%
Capital Expenditures Incurred but Not yet Paid	-$16M	$5M	-420.0%	$41M	$48M	-14.6%
Capitalized Computer Software, Additions	$176M2026-03-31	$114M	+54.4%	$556M	$386M	+44.0%
Capitalized Computer Software, Amortization	$112M2026-03-31	$87M	+28.7%	$370M	$318M	+16.4%
Capitalized Contract Cost, Amortization	$22M	$19M	+15.8%	$77M	$60M	+28.3%
Capitalized Contract Cost, Net	$191M	$183M	+4.4%	$191M	$157M	+21.7%
Capitalized Contract Cost, Net, Current	$81M	$75M	+8.0%	$79M	$64M	+23.4%
Capitalized Contract Cost, Net, Noncurrent	$110M	$108M	+1.9%	$112M	$93M	+20.4%
Cash and Cash Equivalents, at Carrying Value	$5.05B	$3.28B	+54.1%	$4.38B	$4.02B	+8.9%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$5.5B	$7.4B	-25.7%	$4.68B	$4.22B	+10.9%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$652M	$699M	-6.7%	$460M	$1.45B	-68.3%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	–	–	–	9.4M2025-05-31	–	–
Common Stock, Capital Shares Reserved for Future Issuance	111M2025-12-31	105M	+6.1%	111M	105M	+6.1%
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	0.0%	$0.00	$0.00	0.0%
Common Stock, Value, Issued	$0	$0	–	$0	$0	–
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	-$1M	-$1M	0.0%	-$3M	-$6M	+50.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$462M	$251M	+84.1%	$1.3B	-$57M	+2,386.0%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$461M	$250M	+84.4%	$1.3B	-$63M	+2,163.5%
Contract with Customer, Liability	$592M	$449M	+31.8%	$547M	$396M	+38.1%
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price	–	–	–	$58M	$46M	+26.1%
Contract with Customer, Liability, Current	$582M	$449M	+29.6%	$547M	$396M	+38.1%
Contract with Customer, Liability, Revenue Recognized	$38M	$36M	+5.6%	-$228M	-$181M	-26.0%
Convertible Notes Payable, Noncurrent	$2.73B	$2.72B	+0.2%	$2.72B	$0	–
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization	$2.17B	$1.69B	+28.7%	$6.74B	$5.54B	+21.6%
Costs and Expenses	$4.17B	$3.19B	+30.9%	$13B	$10.8B	+20.8%
Current Income Tax Expense (Benefit)	–	–	–	$44M	$38M	+15.8%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$0	$0	–	$0	$0	–
Debt Securities, Available-for-sale, Current	$929M	$964M	-3.6%	$1.13B	$1.32B	-14.7%
Debt Securities, Available-for-sale, Noncurrent	$805M	$849M	-5.2%	$837M	$835M	+0.2%
Deferred Costs, Current	$81M	$75M	+8.0%	$79M	$64M	+23.4%
Deferred Income Tax Expense (Benefit)	–	–	–	-$37M	$1M	-3,800.0%
Deferred Tax Assets, Gross	$3.91B2025-12-31	$2.75B	+42.4%	$3.91B	$2.75B	+42.4%
Deferred Tax Assets, Net of Valuation Allowance	$711M2025-12-31	$393M	+80.9%	$711M	$393M	+80.9%
Deferred Tax Assets, Operating Loss Carryforwards	$1.84B2025-12-31	$808M	+127.6%	$1.84B	$808M	+127.6%
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$3.1B2025-12-31	$1.8B	+72.2%	$3.1B	$1.8B	+72.2%
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$1.6B2025-12-31	$1.7B	-5.9%	$1.6B	$1.7B	-5.9%
Deferred Tax Assets, Other	$265M2025-12-31	$112M	+136.6%	$265M	$112M	+136.6%
Deferred Tax Assets, Tax Credit Carryforwards	$539M2025-12-31	$376M	+43.4%	$539M	$376M	+43.4%
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	$65M2025-12-31	$54M	+20.4%	$65M	$54M	+20.4%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	$455M2025-12-31	$360M	+26.4%	$455M	$360M	+26.4%
Deferred Tax Assets, Valuation Allowance	$3.2B2025-12-31	$2.35B	+35.9%	$3.2B	$2.35B	+35.9%
Deferred Tax Liabilities, Gross	$852M2025-12-31	$397M	+114.6%	$852M	$397M	+114.6%
Deferred Tax Liabilities, Leasing Arrangements	$120M2025-12-31	$111M	+8.1%	$120M	$111M	+8.1%
Deferred Tax Liabilities, Net	$141M2025-12-31	$4M	+3,425.0%	$141M	$4M	+3,425.0%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-01