Stock Analysis on Net

DoorDash, Inc. (NASDAQ:DASH)

$24.99

Analysis of Geographic Areas

Microsoft Excel

Area Asset Turnover

DoorDash, Inc., asset turnover by geographic area

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
United States
International

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).


The annual geographic area asset turnover ratios exhibit distinct trends in both the United States and International segments over the five-year period from 2020 to 2024.

United States
The asset turnover ratio in the United States starts at 7.33 in 2020, followed by a modest decline to 6.87 in 2021 and 6.59 in 2022. This indicates a slight reduction in asset efficiency during these years. However, from 2022 onwards, there is a notable recovery, with the ratio increasing to 7.93 in 2023 and further to 9.72 in 2024. This upward trend suggests enhanced asset utilization and improved efficiency in generating revenue from assets within the domestic market in the latter years.
International
The international asset turnover ratio begins at a low base of 0.52 in 2020 and experiences a slight decline to 0.39 in 2021, indicating minimal asset efficiency outside the domestic market initially. Subsequently, there is a significant improvement starting in 2022, with the ratio rising sharply to 2.68, then accelerating further to 5.11 in 2023 and 6.6 in 2024. This dramatic increase demonstrates substantial growth in asset utilization internationally, suggesting successful expansion or increased operational efficiency in non-domestic markets during this period.

Overall, the United States segment maintains a higher absolute asset turnover ratio compared to the international segment throughout the period, signifying stronger asset productivity domestically. However, the international segment shows markedly stronger growth in asset turnover, indicating rapid development and improving effectiveness in asset use in global operations. The data reflects an accelerating international presence alongside steady domestic performance, which may be indicative of strategic emphasis on increasing global market penetration and operational optimization.


Area Asset Turnover: United States

DoorDash, Inc.; United States; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Long-lived assets
Area Activity Ratio
Area asset turnover1

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 2024 Calculation
Area asset turnover = Revenue ÷ Long-lived assets
= ÷ =


Revenue
The revenue increased consistently each year from US$2,875 million in 2020 to US$9,403 million in 2024. This represents a substantial growth trajectory over the five-year period, indicating strong expansion and increasing market demand in the geographic area.
Long-lived assets
Long-lived assets showed a marked increase from US$392 million in 2020 to US$981 million in 2023, followed by a slight decline to US$967 million in 2024. This upward trend suggests significant investment in fixed assets up to 2023, with a minor reduction or stabilization thereafter.
Area asset turnover
The area asset turnover ratio decreased gradually from 7.33 in 2020 to 6.59 in 2022, reflecting a modest decline in the efficiency of asset utilization during this period. However, it rebounded strongly in 2023 and 2024, increasing to 7.93 and then 9.72 respectively. This indicates a significant improvement in generating revenue from fixed assets in the most recent years.

Area Asset Turnover: International

DoorDash, Inc.; International; area asset turnover calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Revenue
Long-lived assets
Area Activity Ratio
Area asset turnover1

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 2024 Calculation
Area asset turnover = Revenue ÷ Long-lived assets
= ÷ =


The analysis of the international financial data reveals significant growth and operational improvements over the five-year period.

Revenue
The revenue displayed a dramatic increase from 11 million US dollars in both 2020 and 2021 to 332 million in 2022, followed by continued substantial growth to 854 million in 2023 and reaching 1,319 million in 2024. This trend indicates a strong expansion in the international market segment, with revenue multiplying more than a hundredfold from 2020 to 2024.
Long-lived assets
The value of long-lived assets experienced a steady increase throughout the period, starting at 21 million US dollars in 2020 and rising to 200 million by 2024. This steady accumulation suggests ongoing investment in fixed assets to support the expanding international operations.
Area asset turnover
The asset turnover ratio, which measures the efficiency of asset use in generating revenue, initially declined from 0.52 in 2020 to 0.39 in 2021. However, a pronounced improvement is observed from 2022 onwards, with the ratio sharply rising to 2.68, then doubling to 5.11 in 2023 and further increasing to 6.6 in 2024. This indicates that the company has become significantly more efficient in utilizing its long-lived assets to generate revenue internationally.

Overall, the data suggests a phase of rapid expansion in revenue coupled with increased asset investment and a marked improvement in asset utilization efficiency. The rise in both revenue and asset turnover ratio after 2021 reflects a successful scaling of operations and enhanced operational effectiveness in the international segment.


Revenue

DoorDash, Inc., revenue by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
United States
International
Total

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).


The revenue data for the geographic areas over the five-year period reveals a clear growth trend in both domestic and international markets, contributing to the overall increase in total revenue.

United States Revenue
There is a consistent and substantial increase in revenue generated from the United States. Starting at approximately $2,875 million in 2020, the revenue grows annually to reach $9,403 million by 2024. This marks a more than threefold increase over the five-year span, indicating strong market penetration and expansion within the domestic market.
International Revenue
The international revenue, although significantly smaller initially, shows a notable upward trajectory. Starting with minimal revenue of $11 million in both 2020 and 2021, there is a sharp increase to $332 million in 2022, followed by continuous growth to $1,319 million by 2024. This indicates an accelerating international footprint and growing contributions from markets outside the United States.
Total Revenue
The total revenue mirrors the combined growth of domestic and international streams, increasing from $2,886 million in 2020 to $10,722 million in 2024. The growth pattern is steady and reflects both the strong performance in the domestic market and the rising significance of international revenue. The total revenue more than triples over the analyzed period, underscoring robust overall company expansion.

In summary, the revenue data demonstrates sustained and accelerating growth across all geographic segments, with a dominant contribution from the United States and a rapidly growing international revenue component. This trend suggests successful market development strategies and expanding global operations.


Long-lived assets

DoorDash, Inc., long-lived assets by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
United States
International
Total

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).


United States Long-Lived Assets
The value of long-lived assets in the United States increased substantially from US$392 million in 2020 to US$710 million in 2021, marking a notable growth of approximately 81%. This upward trend continued in 2022 with a further increase to US$949 million. In the following years, the growth rate slowed down, with the assets reaching US$981 million in 2023 and slightly declining to US$967 million in 2024. Overall, the data indicates strong growth initially with stabilization and a minor reduction towards the end of the period.
International Long-Lived Assets
International long-lived assets exhibited significant growth over the analyzed period. Starting at US$21 million in 2020, the value rose moderately to US$28 million in 2021. A more pronounced increase occurred in 2022, reaching US$124 million, followed by continued growth to US$167 million in 2023 and US$200 million in 2024. This trend suggests a strategic expansion or increased investment internationally, with consistent yearly increments after 2021.
Total Long-Lived Assets
Total long-lived assets followed a consistent increase from US$413 million in 2020 to US$738 million in 2021, then progressing sharply to US$1,073 million in 2022. Growth continued, albeit at a slower pace, with totals of US$1,148 million in 2023 and US$1,167 million in 2024. The total values reflect the combined trends of both the domestic and international segments, highlighting strong initial growth with steadier increases thereafter.
Summary of Trends
The data reflects a period of rapid growth in long-lived assets for the first three years, particularly driven by notable expansions both in the United States and internationally. While the United States segment experienced a plateau and slight decline in the final year, international assets showed sustained and robust growth throughout the period. The overall increase in total long-lived assets suggests continued investment and asset accumulation, with a growing emphasis on international markets.