Current Ratio
since 2020
Calculation
DoorDash, Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 1.41 | = | 8,643) | ÷ | 6,147) |
| Dec 31, 2024 | 1.66 | = | 7,386) | ÷ | 4,438) |
| Dec 31, 2023 | 1.64 | = | 5,597) | ÷ | 3,410) |
| Dec 31, 2022 | 1.86 | = | 4,720) | ÷ | 2,544) |
| Dec 31, 2021 | 2.59 | = | 4,565) | ÷ | 1,760) |
| Dec 31, 2020 | 3.94 | = | 5,517) | ÷ | 1,402) |
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), 10-K (reporting date: 2020-12-31).
1 US$ in millions
The current ratio exhibited a declining trend over the observed period, though stabilization appears to be occurring in the most recent years. Initially strong, the ratio decreased consistently from 2020 through 2025.
- Current Ratio Trend
- In 2020, the current ratio stood at 3.94, indicating a robust ability to cover short-term obligations with short-term assets. A substantial decrease was observed in 2021, falling to 2.59. This downward movement continued in 2022, reaching 1.86, and further declined to 1.64 in 2023. While a slight increase to 1.66 was noted in 2024, the ratio concluded the period at 1.41 in 2025, representing the lowest value within the timeframe.
Concurrent with the current ratio’s decline, both current assets and current liabilities increased. However, current liabilities grew at a faster pace than current assets, contributing to the diminishing ratio. The initial decrease from 2020 to 2021 reflects a more pronounced increase in current liabilities relative to current assets. The subsequent years demonstrate continued growth in both categories, but the faster expansion of current liabilities consistently pressured the current ratio.
- Asset and Liability Dynamics
- Current assets increased from US$5,517 million in 2020 to US$8,643 million in 2025. Despite this growth, current liabilities experienced a more significant increase, rising from US$1,402 million in 2020 to US$6,147 million in 2025. This disparity suggests a growing reliance on short-term financing or an increase in obligations due within one year.
The decreasing current ratio suggests a potential weakening in the company’s short-term liquidity position. While the ratio remains above 1.0 throughout the period, indicating that short-term assets still exceed short-term liabilities, the trend warrants monitoring. The stabilization observed between 2024 and 2025 may signal a potential leveling off of this trend, but continued observation is necessary to confirm this.
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Comparison to Competitors
DoorDash, Inc., current ratio, long-term trends, comparison to competitors
| DoorDash, Inc. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|
| Dec 31, 2025 | 1.41 | 1.38 | 1.33 | 1.23 | 0.95 | 0.72 |
| Dec 31, 2024 | 1.66 | 1.69 | 1.31 | 1.52 | 1.19 | 0.75 |
| Dec 31, 2023 | 1.64 | 1.66 | 1.28 | 1.57 | 1.16 | 0.78 |
| Dec 31, 2022 | 1.86 | 1.86 | 1.86 | 1.28 | 1.43 | 0.77 |
| Dec 31, 2021 | 2.59 | 1.95 | 2.10 | 1.58 | 1.78 | 1.20 |
| Dec 31, 2020 | 3.94 | 1.73 | 3.56 | 1.73 | 1.01 | 1.06 |
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), 10-K (reporting date: 2020-12-31).
Comparison to Sector (Consumer Services)
DoorDash, Inc., current ratio, long-term trends, comparison to sector (consumer services)
| DoorDash, Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2025 | 1.41 | 1.20 |
| Dec 31, 2024 | 1.66 | 1.31 |
| Dec 31, 2023 | 1.64 | 1.28 |
| Dec 31, 2022 | 1.86 | 1.49 |
| Dec 31, 2021 | 2.59 | 1.77 |
| Dec 31, 2020 | 3.94 | 1.73 |
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), 10-K (reporting date: 2020-12-31).
Comparison to Industry (Consumer Discretionary)
DoorDash, Inc., current ratio, long-term trends, comparison to industry (consumer discretionary)
| DoorDash, Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2025 | 1.41 | 1.18 |
| Dec 31, 2024 | 1.66 | 1.22 |
| Dec 31, 2023 | 1.64 | 1.20 |
| Dec 31, 2022 | 1.86 | 1.15 |
| Dec 31, 2021 | 2.59 | 1.25 |
| Dec 31, 2020 | 3.94 | 1.19 |
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), 10-K (reporting date: 2020-12-31).