Stock Analysis on Net
Stock Analysis on Net

DoorDash, Inc. (NASDAQ:DASH)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Paying user area

Try for free

DoorDash, Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

DoorDash, Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable
Current operating lease liabilities
Litigation reserves
Sales tax payable and accrued sales and indirect taxes
Accrued operations related expenses
Accrued advertising
Dasher and merchant payable
Insurance reserves
Contract liabilities
Other
Accrued expenses and other current liabilities
Current liabilities
Non-current operating lease liabilities
Convertible notes, net
Other liabilities
Non-current liabilities
Total liabilities
Redeemable non-controlling interests
Common stock, $0.00001 par value
Additional paid-in capital
Accumulated other comprehensive income (loss)
Accumulated deficit
Stockholders’ equity
Total liabilities, redeemable non-controlling interests and stockholders’ equity

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Overall, the presented financial information reveals a significant increase in both liabilities and stockholders’ equity over the five-year period. While stockholders’ equity demonstrates consistent growth, the expansion of liabilities, particularly in later years, warrants closer examination. Several liability accounts exhibit substantial increases, while changes in stockholders’ equity are driven primarily by additional paid-in capital and a diminishing accumulated deficit.

Current Liabilities
Current liabilities demonstrate a consistent upward trend, increasing from US$1,760 million in 2021 to US$6,147 million in 2025. This growth is largely attributable to increases in ‘Dasher and merchant payable’, ‘Insurance reserves’, ‘Sales tax payable and accrued sales and indirect taxes’, and ‘Accrued operations related expenses’. ‘Dasher and merchant payable’ experienced the most substantial growth, rising from US$424 million to US$1,703 million over the period. ‘Insurance reserves’ also saw a considerable increase, growing from US$143 million to US$1,114 million. The ‘Accrued expenses and other current liabilities’ account also increased significantly, more than tripling from US$1,573 million to US$5,645 million.
Non-Current Liabilities
Non-current liabilities also increased over the period, though the most significant jump occurs in 2025 with the introduction of ‘Convertible notes, net’ at US$2,724 million. Prior to 2025, growth was more moderate, increasing from US$382 million in 2021 to US$616 million in 2023, before decreasing slightly to US$597 million in 2024. ‘Non-current operating lease liabilities’ remained relatively stable, fluctuating between US$373 million and US$468 million. The addition of ‘Convertible notes, net’ in 2025 dramatically increases the total non-current liabilities to US$3,466 million.
Total Liabilities
Total liabilities increased substantially, rising from US$2,142 million in 2021 to US$9,613 million in 2025. This increase is driven by the growth in both current and non-current liabilities, with the 2025 figure being significantly impacted by the introduction of ‘Convertible notes, net’. The rate of increase accelerates in the later years of the period.
Stockholders’ Equity
Stockholders’ equity shows consistent growth, increasing from US$4,667 million in 2021 to US$10,033 million in 2025. The primary driver of this growth is ‘Additional paid-in capital’, which increased from US$6,752 million to US$14,092 million. ‘Accumulated deficit’ decreased over the period, moving from a negative US$2,081 million in 2021 to a negative US$4,320 million in 2025, indicating improving profitability or reduced losses. ‘Accumulated other comprehensive income (loss)’ fluctuated, but ended the period at a positive US$261 million, contributing to the overall equity increase.
Redeemable Non-Controlling Interests
Redeemable non-controlling interests remained relatively small, fluctuating between US$7 million and US$14 million throughout the period, ending at US$13 million in 2025.
Total Liabilities and Stockholders’ Equity
The combined total of liabilities, redeemable non-controlling interests, and stockholders’ equity increased significantly, from US$6,809 million in 2021 to US$19,659 million in 2025. This growth reflects the overall expansion of the company’s financial structure, driven by both increased liabilities and growing equity.

In summary, the company experienced substantial growth in both liabilities and equity. The increasing liabilities, particularly in the later years, require further investigation to assess the associated risks and the company’s ability to meet its obligations. The growth in stockholders’ equity is positive, driven by capital infusions and a reduction in accumulated deficits.