Stock Analysis on Net

DoorDash, Inc. (NASDAQ:DASH)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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DoorDash, Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Restricted cash
Short-term marketable securities
Funds held at payment processors
Accounts receivable, net
Prepaid expenses and other current assets
Current assets
Long-term marketable securities
Operating lease right-of-use assets
Property and equipment, net
Intangible assets, net
Goodwill
Other assets
Non-current assets
Total assets

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The composition of assets has undergone significant shifts over the analyzed period, spanning from March 31, 2021, to December 31, 2025. A notable trend is the decreasing proportion of cash and cash equivalents relative to total assets, declining from 67.89% in March 2021 to 22.27% in December 2025. Conversely, the proportion of goodwill has experienced considerable fluctuation, peaking at 28.07% in December 2025, after a low of 4.64% in December 2021.

Liquidity and Current Assets
Current assets, initially representing 85.14% of total assets in March 2021, decreased to 43.96% by December 2025. This decline is largely attributable to the reduction in cash and short-term marketable securities. Short-term marketable securities decreased from 7.91% to 5.74% over the same period. Funds held at payment processors exhibited some volatility, peaking at 4.70% in December 2021, but ultimately settled at 2.99% in December 2025. Accounts receivable remained relatively stable, fluctuating between approximately 3.40% and 5.70% of total assets. Prepaid expenses and other current assets showed an increasing trend, rising from 2.41% to 5.95% before decreasing to 5.95% in December 2025.
Non-Current Assets
Non-current assets have increased as a percentage of total assets, rising from 14.86% in March 2021 to 56.04% in December 2025. This increase is primarily driven by changes in intangible assets and goodwill. Intangible assets experienced a substantial increase, growing from 1.19% to 11.50% before decreasing to 11.50% in December 2025. Operating lease right-of-use assets remained relatively consistent, decreasing from 3.49% to 2.22%. Property and equipment, net, showed a slight decrease, moving from 4.24% to 5.43% before settling at 5.43% in December 2025. Long-term marketable securities were minimal for most of the period, becoming more significant in late 2024 and 2025, reaching 4.26% in December 2025.
Restricted Cash
Restricted cash was absent for the majority of the analyzed period, appearing only in late 2024 and 2025, reaching a peak of 22.70% in June 2025 before decreasing to 1.39% in December 2025. This suggests a temporary shift in cash management practices or specific contractual obligations during that timeframe.

Overall, the asset composition demonstrates a shift away from highly liquid assets (cash and short-term securities) towards longer-term assets, particularly goodwill and intangible assets. This suggests a potential change in the company’s investment strategy and a greater reliance on long-term value creation. The increase in non-current assets, coupled with the decrease in current assets, indicates a potential transition from a cash-rich position to one focused on utilizing assets for long-term growth and development.