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DoorDash Inc Ordinary Shares - Class A DASH

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Stock XNAS Rating as of
$114.84 −1.33 (1.14%)
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As of Delayed Price Closed
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Company Report

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DoorDash Earnings: First-Quarter Results Are Solid, but Second-Quarter Outlook Is Flat

Malik Ahmed Khan

We are lowering our fair value estimate to $135 per share from $155 following for first-quarter earnings for narrow-moat DoorDash. The second-quarter outlook suggests flat growth in gross order value and adjusted EBITDA. While not a trend, this increases the risk that growth is slowing. We have lowered our long-term growth forecasts, the main drivers of the decrease in our fair value estimate. We are still expecting the company to return to growth and margin expansion by the end of the year and be on a path to full-year profitability for 2025. On the positive side, the US grocery business continued to grow at over 100% year over year, and the international business also maintained its growth rate, so there is reason to believe DoorDash has a long runway.

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Price vs Fair Value

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DASH is trading at a 714% premium.
Price
$114.84
Fair Value
$654.00
Uncertainty
Very High
1-Star Price
$968.48
5-Star Price
$15.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Consumer behavior will continue to shift away from in-restaurant dining as the variety of food and speed of delivery available at home increase. As demand for DoorDash services pushes higher, the firm should quickly reach profitability.

Bears

The transition toward food delivery or pickup is probably not permanent and will likely slow or come to a halt as the pandemic ends, lessening chances of DoorDash becoming profitable.

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Trading Information

Previous Close Price
$116.17
Day Range
$114.10–117.21
52-Week Range
$62.83–143.34
Bid/Ask
$114.50 / $114.79
Market Cap
$46.96 Bil
Volume/Avg
4.4 Mil / 4.2 Mil

Key Statistics

Price/Earnings (Normalized)
87.12
Price/Sales
5.06
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
0.75%

Company Profile

Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe. DoorDash provides a marketplace for the merchants to create a presence online, market their offerings, and meet demand by making the offerings available for pickup or delivery. The firm provides similar service to businesses in addition to restaurants, such as grocery, retail, pet supplies, and flowers.
Sector
Communication Services
Industry
Internet Content & Information
Stock Style Box
Large Growth
Total Number of Employees
19,300
Website
https://www.doordash.com

Competitors

Valuation

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Metric
DASH
TKWY
UBER
Price/Earnings (Normalized)
 87.121.11129.22
Price/Book Value
 6.780.4812.53
Price/Sales
 5.060.543.63
Price/Cash Flow
 34.6517.8535.80
Price/Earnings
DASH
TKWY
UBER

Financial Strength

Metric
DASH
TKWY
UBER
Quick Ratio
 1.351.361.02
Current Ratio
 1.641.501.21
Interest Coverage
 —−20.643.16
Quick Ratio
DASH
TKWY
UBER

Profitability

Metric
DASH
TKWY
UBER
Return on Assets (Normalized)
 5.14%−3.01%8.29%
Return on Equity (Normalized)
 7.96%−5.05%31.32%
Return on Invested Capital (Normalized)
 5.51%−3.17%13.80%
Return on Assets
DASH
TKWY
UBER
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