Price to Book Value (P/BV)
since 2020
Calculation
DoorDash, Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2025 | 11.49 | = | 213.38 | ÷ | 18.57 | 18.57 | = | 7,803 | ÷ | 420,096,084 | |
| Feb 20, 2024 | 6.85 | = | 115.48 | ÷ | 16.85 | 16.85 | = | 6,806 | ÷ | 404,004,211 | |
| Feb 27, 2023 | 3.15 | = | 54.19 | ÷ | 17.23 | 17.23 | = | 6,754 | ÷ | 392,075,689 | |
| Mar 1, 2022 | 7.65 | = | 102.43 | ÷ | 13.40 | 13.40 | = | 4,667 | ÷ | 348,411,427 | |
| Mar 5, 2021 | 10.36 | = | 151.48 | ÷ | 14.62 | 14.62 | = | 4,700 | ÷ | 321,463,740 |
Based on: 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of DoorDash, Inc. Annual Report.
The analysis of the available financial data reveals notable trends over the five annual periods under review.
- Share Price
- The share price exhibited a significant fluctuation. It started at a high value of $151.48, experienced a steep decline reaching a low of $54.19 by the fiscal year ending in February 2023, followed by a recovery and sharp increase to $213.38 in the most recent period. This pattern indicates considerable volatility in market valuation, with a trough in 2023 and substantial recovery thereafter.
- Book Value per Share (BVPS)
- Book value per share remained relatively stable with modest growth over the five-year span. It began at $14.62, dipped slightly in 2022 to $13.40, then rose steadily in the following years, reaching $18.57 in 2025. This suggests gradual improvement in the underlying net asset value attributable to each share.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio mirrored the volatility seen in the share price. It started at a high valuation of 10.36, dropped sharply to 3.15 by 2023, following the decline in share price, but rebounded to a peak of 11.49 by 2025. This indicates that the market valuation relative to book value contracted and then expanded again, reflecting changing investor sentiment and possibly growth expectations over time.
Overall, the data suggests a period of market revaluation with early shares losing significant value before recovering strongly. Meanwhile, the book value per share showed a steady, modest increase, indicating consistent underlying asset growth. The divergence between market price and book value at various points highlights shifts in market perception and confidence.
Comparison to Competitors
DoorDash, Inc., P/BV, long-term trends, comparison to competitors
| DoorDash, Inc. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|
| Feb 14, 2025 | 11.49 | 10.57 | — | 21.32 | — | — |
| Feb 20, 2024 | 6.85 | 12.09 | — | 23.47 | — | — |
| Feb 27, 2023 | 3.15 | 15.16 | 32.84 | 18.74 | — | — |
| Mar 1, 2022 | 7.65 | 20.88 | 16.35 | 19.05 | — | — |
| Mar 5, 2021 | 10.36 | 43.27 | 20.46 | 21.52 | — | — |
Based on: 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., P/BV, long-term trends, comparison to sector (consumer services)
| DoorDash, Inc. | Consumer Services | |
|---|---|---|
| Feb 14, 2025 | 11.49 | 163.88 |
| Feb 20, 2024 | 6.85 | 264.40 |
| Feb 27, 2023 | 3.15 | 198.47 |
| Mar 1, 2022 | 7.65 | 74.08 |
| Mar 5, 2021 | 10.36 | — |
Based on: 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., P/BV, long-term trends, comparison to industry (consumer discretionary)
| DoorDash, Inc. | Consumer Discretionary | |
|---|---|---|
| Feb 14, 2025 | 11.49 | 31.67 |
| Feb 20, 2024 | 6.85 | 10.06 |
| Feb 27, 2023 | 3.15 | 9.41 |
| Mar 1, 2022 | 7.65 | 13.21 |
| Mar 5, 2021 | 10.36 | 17.99 |
Based on: 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).