DoorDash (DASH) AI Stock Analysis

• Market Cap: $90.26B
• Dividend Yield: N/A
• Average Volume (3M): 3.43M
• Price to Earnings (P/E): 105.2
• Beta (1Y): 1.42
• Revenue Growth: 24.46%
• EPS Growth: N/A
• Country: US
• Employees: 23,700
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Internet Content & Information
• EPS (TTM): 0.55
• Shares Outstanding: 406,334,630
• 10 Day Avg. Volume: 3,605,056
• 30 Day Avg. Volume: 3,434,103
• PEG Ratio: -4.63
• Price to Book (P/B): 8.85
• Price to Sales (P/S): 6.44
• P/FCF Ratio: 38.31
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: 7.05
• Enterprise Value/Gross Profit: 13.96
• Enterprise Value/Ebitda: 68.24
• 1Y Price Target: $279.14
• Price Target Upside: 34.62% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 30
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $223.00 ▲(7.54% Upside)

The score is primarily supported by strong financial performance (improving margins, strong free cash flow, and low leverage) and a generally positive earnings outlook centered on growth, ads, and subscriptions. Offsetting this are weak technical conditions (bearish trend and momentum) and an expensive valuation (P/E ~104) with no dividend support.

Positive Factors

Marketplace scale & order growth

Sustained double-digit order and GOV growth demonstrates durable demand and network effects across consumers, merchants, and Dashers. Scale improves bargaining power, ad inventory and subscription economics, reinforcing long-term revenue diversity and market position.

Improving profitability and margins

Material improvement in gross and net margins indicates stronger unit economics and operating leverage. Higher profit conversion supports reinvestment into product and logistics while making profitability more resilient to competitive pressures over the medium term.

Strong cash generation

Robust free-cash-flow growth and strong cash conversion provide durable funding for tech investments, subsidies, and M&A without forcing excessive external financing, enhancing financial flexibility and supporting long-term strategic initiatives.

Negative Factors

Deliveroo integration risk

Acquiring and consolidating Deliveroo into a common tech platform creates execution complexity and incremental costs. Disruptions or slower synergies can erode expected margin gains and distract management, posing multi-quarter operational and financial downside risk.

New verticals' unit economics

Continued negative unit economics in newer categories (grocery, retail, fulfillment) mean sustained losses until scale or cost structure improves. Expanding these verticals requires ongoing capital and may constrain margin expansion over the coming quarters.

Regulatory and tipping risk

Regulatory scrutiny and laws mandating tip presentation alter customer flows, platform economics and labor costs. Compliance and litigation risk can raise operating expenses, reduce flexibility in fee design, and create sustained margin pressure in key urban markets.

DoorDash Business Overview & Revenue Model

Company Description

DoorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels. The company was formerly known as Palo Alto Delivery Inc. and changed its name to DoorDash, Inc. in 2015. DoorDash, Inc. was incorporated in 2013 and is headquartered in San Francisco, California.

How the Company Makes Money

DoorDash generates revenue through multiple streams, primarily from delivery fees, service fees, and commissions charged to restaurants. When a customer places an order, DoorDash typically charges a delivery fee, which varies based on distance and the size of the order. Additionally, the company imposes a service fee that helps cover operational costs. Restaurants partnering with DoorDash pay a commission on each order fulfilled through the platform, which can range from 15% to 30% depending on various factors, including promotional agreements and the services used. DoorDash also offers subscription services, such as DashPass, which provides customers with free delivery on eligible orders for a monthly fee. Partnerships with major restaurant chains and grocery retailers further enhance revenue, as does the expansion into new markets and the introduction of innovative services like DashMart, which delivers convenience store items. Overall, DoorDash's diversified revenue model and strategic partnerships are key contributors to its earnings.

DoorDash Financial Statement Overview

Summary

Strong overall fundamentals: improving profitability (net margin 6.83%) and solid gross margin (50.49%), strong free cash flow growth (+30%) with high cash conversion (OCF/NI 2.93), and conservative leverage (debt-to-equity 0.34). Key risk is sustaining margins while scaling and funding heavier investment.

Income Statement

DoorDash has shown strong revenue growth with a 6.22% increase in the TTM period, building on previous years' growth. The gross profit margin is robust at 50.49%, indicating efficient cost management. The net profit margin has improved significantly to 6.83%, reflecting enhanced profitability. EBIT and EBITDA margins have also improved, showcasing operational efficiency.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.34, indicating conservative leverage. Return on equity has improved to 9.97%, reflecting better profitability. The equity ratio stands at 52.84%, suggesting a solid equity base relative to total assets.

Cash Flow

DoorDash exhibits strong cash flow performance with a 30% growth in free cash flow, indicating robust cash generation. The operating cash flow to net income ratio is 2.93, showing strong cash conversion. The free cash flow to net income ratio is 0.88, highlighting efficient cash utilization.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.63B	10.72B	8.63B	6.58B	4.89B	2.89B
Gross Profit	6.38B	5.18B	4.05B	3.00B	2.55B	1.52B
EBITDA	1.30B	523.00M	-68.00M	-663.00M	-296.00M	-306.00M
Net Income	863.00M	123.00M	-558.00M	-1.36B	-468.00M	-461.00M
Balance Sheet
Total Assets	17.97B	12.85B	10.84B	9.79B	6.81B	6.35B
Cash, Cash Equivalents and Short-Term Investments	4.24B	5.34B	4.08B	3.52B	3.76B	4.86B
Total Debt	3.26B	536.00M	522.00M	511.00M	399.00M	617.00M
Total Liabilities	8.46B	5.04B	4.03B	3.02B	2.14B	1.65B
Stockholders Equity	9.49B	7.80B	6.81B	6.75B	4.67B	4.70B
Cash Flow
Free Cash Flow	1.99B	1.80B	1.35B	21.00M	455.00M	93.00M
Operating Cash Flow	2.53B	2.13B	1.67B	367.00M	692.00M	252.00M
Investing Cash Flow	-1.44B	-444.00M	-342.00M	-300.00M	-2.05B	-192.00M
Financing Cash Flow	2.39B	-204.00M	-752.00M	-375.00M	-483.00M	4.00B

DoorDash Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 207.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DASH, the sentiment is Negative. The current price of 207.36 is below the 20-day moving average (MA) of 216.82, below the 50-day MA of 216.26, and below the 200-day MA of 229.61, indicating a bearish trend. The MACD of -4.77 indicates Positive momentum. The RSI at 38.69 is Neutral, neither overbought nor oversold. The STOCH value of 46.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DASH.

DoorDash Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CART	79 Outperform	$10.59B	20.85	15.33%	―	10.16%	18.29%
YELP	77 Outperform	$1.74B	12.05	20.37%	―	5.35%	33.74%
UBER	74 Outperform	$170.34B	10.42	77.55%	―	18.25%	277.10%
DASH	67 Neutral	$90.26B	105.20	10.11%	―	24.46%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
NXDR	58 Neutral	$788.14M	-12.58	-14.07%	―	6.65%	50.32%
LYFT	55 Neutral	$7.18B	48.63	24.53%	―	14.90%	―

DoorDash Corporate Events

DoorDash Adds AI-Focused Director to Strengthen Tech Strategy

On January 16, 2026, DoorDash expanded its board of directors to eleven members and appointed Milan Kovac, a former senior engineering leader at Tesla and current director at robotics firm Boston Dynamics, as a Class III director and member of the Nominating and Corporate Governance Committee, with his term running until the 2026 annual meeting. Kovac’s deep background in AI, autonomy, and robotics—built through years overseeing Tesla’s Optimus humanoid robot program and Autopilot engineering—aligns with DoorDash’s ongoing investments in logistics technology and emerging delivery modalities, signaling a strategic push to strengthen its technology leadership and innovation capabilities in local commerce and last-mile delivery, while also modestly increasing outside director compensation to reflect the value placed on high-caliber board talent.

The most recent analyst rating on (DASH) stock is a Buy with a $275.00 price target. To see the full list of analyst forecasts on DoorDash stock, see the DASH Stock Forecast page.

DoorDash Reports Strong Q3 2025 Financial Growth

On November 5, 2025, DoorDash announced its financial results for the third quarter of 2025, highlighting significant year-over-year growth in key metrics such as Total Orders, Marketplace Gross Order Value (GOV), and revenue. The company reported a 21% increase in Total Orders to 776 million, a 25% rise in Marketplace GOV to $25 billion, and a 27% growth in revenue to $3.4 billion. DoorDash’s GAAP net income rose by 51% to $244 million, and Adjusted EBITDA increased by 41% to $754 million. The company attributes its success to strong execution and reinvestment strategies, which have driven growth in U.S. monthly active users and DashPass memberships. Additionally, DoorDash expanded its U.S. new verticals categories, including grocery and retail, and launched DashMart Fulfillment Services to enhance consumer experiences, contributing to accelerated growth in Marketplace GOV.

The most recent analyst rating on (DASH) stock is a Buy with a $310.00 price target. To see the full list of analyst forecasts on DoorDash stock, see the DASH Stock Forecast page.