DASH
DoorDash, Inc.
DASH's fundamentals are strong and it looks cheap: trading at 71x earnings, below its usual 112x. Analysts expect strong earnings growth, though they disagree widely on how much.
DASH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
DASH's revenue, profitability, cash flow and balance sheet are all currently healthy.
DASH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 41x | $173 | — |
| Current | 71x | $173 | — |
| Cheap | 82x | $199 | +15% |
| Fair | 111x | $270 | +56% |
| Expensive | 304x | $738 | +327% |
Historical ranges are pointers, not guarantees.
DASH's PE is in its cheap range at 71x. If earnings grow as analysts expect, today's price would be 41x next year's earnings.
DASH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for DASH, with profitability improving. However, they disagree widely on these estimates.
DASH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.26 | +75% |
| Q3 2026 | $2.43 | +22% |
| Q2 2026 | $1.92 | +5.5% |
| Q1 2026 | $2.11 | +167% |
| Q4 2025 | $2.13 | +634% |
| Q3 2025 | $1.99 | +$2.43 |
| Q2 2025 | $1.82 | +$2.83 |
| Q1 2025 | $0.79 | +$1.86 |
| Q4 2024 | $0.29 | +$1.71 |
DASH's earnings per share have climbed steadily: $2.43 over the past year, up 22% from the year before, and higher year over year for 12 quarters in a row.
DASH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | +34% |
| Q2 2026 | $4.5B | +36% |
| Q1 2026 | $4B | +33% |
| Q4 2025 | $4B | +38% |
| Q3 2025 | $3.4B | +27% |
| Q2 2025 | $3.3B | +25% |
| Q1 2025 | $3B | +21% |
| Q4 2024 | $2.9B | +25% |
DASH's revenue has grown year over year every quarter since late 2020: $4.6B last quarter, up 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.6% | +2.1 points |
| Q2 2026 | 3.5% | -1.5 points |
| Q1 2026 | 3.7% | -1.4 points |
| Q4 2025 | 3.7% | -0.4 points |
| Q3 2025 | 7.5% | +3.5 points |
| Q2 2025 | 5% | +13 points |
| Q1 2025 | 5.1% | +7.5 points |
| Q4 2024 | 4.1% | +7.9 points |
DASH's operating margin was 9.6% last quarter, up 2.1 points from the same quarter a year ago, near the top of its range since 2019.
DASH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $904M | +12% |
| Q2 2026 | $883M | +102% |
| Q1 2026 | $537M | -4.3% |
| Q4 2025 | $367M | -24% |
| Q3 2025 | $808M | +62% |
| Q2 2025 | $438M | -14% |
| Q1 2025 | $561M | +4.7% |
| Q4 2024 | $486M | +6.6% |
DASH generated $2.7B in free cash flow over the past year, up 17% from the year before.
DASH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +969K shares |
| 1 year | -0.3% | -1.5M shares |
| 3 years | +12% | +47.1M shares |
| 5 years | +29% | +100M shares |
| Available history | +904% | +396M shares |
DASH has 440M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $887M |
| Q1 2026 | $162M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $217M |
| Q2 2024 | $7M |
DASH spent $1B buying back its own shares over the past year.
DASH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -6.0x | Net Cash |
| Q4 2024 | -7.7x | Net Cash |
DASH has more cash than debt.
DASH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.9 | Neutral |
| Stochastic | 17.8 | Oversold |
DASH's weekly RSI is 42 (neutral) and its Stochastic is 18 (oversold).
DASH PE vs Communication Services Sector
| Metric | DASH | Sector median | Relative |
|---|---|---|---|
| PE | 71x | 16x | 331% above |
| PE % | 1 | 28 | 27 pts below |
DASH is trading at 71x earnings, a 331% premium to the Communication Services sector's median of 16x.
DASH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.9 | 6.6% below |
| 20 week MA | $195.8 | 12% below |
| 50 week MA | $187.6 | 8% below |
| 100 week MA | $201.3 | 14% below |
| 200 week MA | $151.8 | 14% above |
DASH has fallen below most of its moving averages, though it's still 14% above its 200-week average.
DASH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $175.0 | $158.5 | -9.5% |
| 2021 | $158.5 | $153.7 | -3% |
| 2022 | $153.7 | $50.7 | -67% |
| 2023 | $50.7 | $98.9 | +95% |
| 2024 | $98.9 | $169.3 | +71% |
| 2025 | $169.3 | $234.0 | +38% |
| 2026 YTD | $234.0 | $172.6 | -26% |
DASH has finished lower in three of the last six years. It's down 26% so far in 2026.