DoorDash, Inc. (NASDAQ:DASH)

Net Fixed Asset Turnover

The net fixed asset turnover ratio shows a consistent upward trend starting from a value of 12.16 on March 31, 2021. Although there is a slight decline in the mid-period quarters, the ratio gradually increases overall, reaching a peak of 13.85 on September 30, 2024, before experiencing a minor decrease toward 13.29 at the end of the observed period on March 31, 2025. This suggests improving efficiency in utilizing fixed assets to generate sales over time, with a minor recent softening.

Net Fixed Asset Turnover (including operating lease, right-of-use asset)

This ratio mirrors the trend observed in the net fixed asset turnover but at lower levels, starting at 6.62 and dipping to 5.9 at its low point in September 2021. Afterward, it steadily rises to 9.19 in September 2024, before slightly leveling off near 9.14 by March 2025. The inclusion of operating leases and right-of-use assets provides a broader asset base, indicating an improving ability to generate revenue from these assets over the period.

Total Asset Turnover

The total asset turnover ratio fluctuates in the early quarters with a low of 0.57 in September 2021 but generally trends upward, stabilizing around 0.8 to 0.83 from March 2023 onwards through March 2025. This pattern indicates increasing efficiency in the company's use of total assets to produce revenue, achieving a relatively stable performance in the latter half of the period analyzed.

Equity Turnover

Equity turnover shows noticeable volatility initially, starting at 1.05 and descending to 0.76 by September 2021. After this dip, it trends upward substantially, reaching a peak of 1.37 in September 2024 before a slight decline to 1.34 by March 2025. This upward trend reflects strengthening efficiency in the use of equity to generate sales, with a minor recent reduction in turnover efficiency toward the end of the timeline.

Revenue Trends

Revenue has shown a consistent upward trajectory over the entire period analyzed. Starting at $1,077 million in March 2021, it increased steadily each quarter, reaching $3,032 million by March 2025. This represents a nearly threefold increase in revenue over four years, indicating sustained growth. The most pronounced growth appears from March 2023 onward, with quarterly revenue surpassing the $2 billion mark and continuing to expand at a notable pace.

Property and Equipment, Net

Net property and equipment have also risen consistently from $250 million in March 2021 to $846 million by March 2025. The increase reflects ongoing capital investments, likely supporting the company's expanding operations and infrastructure requirements. Growth in this asset category appears steady, with incremental increases each quarter, suggesting a measured but persistent enhancement of fixed assets.

Net Fixed Asset Turnover Ratio

The net fixed asset turnover ratio, available from December 2021 onwards, shows a general upward trend, starting at 12.16 and peaking around 13.85 by September 2024 before slightly declining to 13.29 in March 2025. This ratio measures the efficiency in using fixed assets to generate revenue. The increase indicates improving asset utilization efficiency over time, meaning the company is generating more revenue per dollar invested in fixed assets. Minor fluctuations suggest operational adjustments but overall enhanced productivity.

Overall Insights

The data suggests the company maintains robust growth in revenue accompanied by parallel increases in fixed asset investments. The improvement in net fixed asset turnover ratio indicates that capital expenditures are effectively contributing to revenue generation. A slight dip in the ratio toward the end of the period may warrant monitoring but does not currently signal a significant decline in efficiency. The steady expansion in both revenue and asset base reflects strategic scaling of operations with efficient asset deployment.

The financial data reveals several notable trends over the observed periods. Revenue demonstrates a consistent upward trajectory from March 31, 2021, through March 31, 2025. Starting at 1,077 million US dollars, revenue grows steadily each quarter, reaching 3,032 million US dollars by the end of the period, indicating strong sales performance and expansion.

Regarding property and equipment, net, including operating lease and right-of-use assets, there is also a general upward trend, albeit with some variability. The value increases from 456 million US dollars in March 2021 to a peak of 1,167 million US dollars at the end of 2024, before slightly rising further to 1,230 million US dollars by March 31, 2025. This suggests ongoing investment in fixed assets, potentially to support growth and operational capacity.

The net fixed asset turnover ratio, calculated as revenue divided by net fixed assets (including operating leases), is available from December 31, 2021, onwards and indicates improving efficiency. Initially at 6.62, the ratio fluctuates mildly but displays a clear upward trend, reaching 9.14 in March 2025. This increasing ratio implies more efficient use of fixed assets in generating revenue over time.

Revenue Trend

Consistent quarter-over-quarter growth from 1,077 million to 3,032 million US dollars over four years, indicating sustained expansion.

Property and Equipment, Net

Steady increase in net property and equipment assets with some fluctuations, reflecting continued capital investment to support growth.

Net Fixed Asset Turnover Ratio

Improvement from 6.62 to 9.14 over the reported periods, showing enhanced asset utilization and operational efficiency.

Overall, the financial data suggests a company that is expanding its revenue base while effectively leveraging and managing its fixed assets, leading to increased productivity and asset turnover efficiency. The combination of growing revenue and rising fixed asset turnover ratio signals a positive operational trend and an effective reflection of fixed asset investments in generating sales.

The revenue of the company demonstrates a consistent upward trajectory from March 2021 through March 2025. Starting at approximately $1,077 million in early 2021, revenue steadily increased each quarter, reaching over $3,000 million by the first quarter of 2025. There is a clear pattern of quarter-over-quarter growth, with no evident periods of decline or stagnation, indicating sustained business expansion over the observed timeline.

Total assets show an overall increasing trend but with some fluctuations. From March 2021 to March 2022, total assets grew moderately from about $5,902 million to $6,822 million. Subsequently, there was a significant jump in June 2022, reaching $9,928 million, before experiencing a slight decrease and recovery through to March 2023. Post-March 2023, total assets continue to rise steadily, reaching approximately $13,572 million by March 2025. This growth trend suggests ongoing investment and asset accumulation, although short-term variability may indicate asset rebalancing or disposals during fiscal periods.

The total asset turnover ratio, available from December 2021 onwards, fluctuates over the period but generally trends upward. Initial readings are around 0.72 to 0.77 in late 2021 and early 2022. A decline is observed mid-2022, followed by a recovery and consistent improvement starting from early 2023. By early 2025, the ratio stabilizes near 0.83, reflecting improved efficiency in using assets to generate revenue. This increase in asset turnover suggests that as the company grows its asset base, it is becoming more effective at leveraging those assets to drive revenue.

Revenue

Consistent and substantial growth over the four-year period, increasing nearly threefold from $1,077 million to $3,032 million.

Total Assets

Overall upward trend with a notable jump in mid-2022 before stabilizing and growing steadily towards $13,572 million by early 2025.

Total Asset Turnover

Initial fluctuations followed by steady improvement, reaching a stable high ratio around 0.83, indicating enhanced asset utilization efficiency.

In summary, the company exhibits strong revenue growth supported by an expanding asset base and improving asset efficiency. The combination of these factors points to successful scaling and operational effectiveness in recent quarters.

The financial data reveals several noteworthy trends over the observed quarters. Revenue demonstrates a consistently upward trajectory from March 31, 2021, through March 31, 2025. Beginning at $1,077 million in the first quarter of 2021, revenue shows steady growth with some acceleration in recent quarters, reaching $3,032 million by the first quarter of 2025. This suggests a robust expansion in business operations or improved market penetration over this period.

Stockholders’ equity displays a fluctuating pattern with an overall moderate upward trend. Initially, equity figures remain relatively flat from March 2021 to March 2022, hovering around $4,555 million to $4,652 million. A notable spike occurs in June 2022 at $7,410 million, followed by a dip and stabilization at lower levels for the remainder of 2022 and into early 2023. From mid-2023 onward, equity rises gradually but steadily, culminating at $8,389 million by the first quarter of 2025. The spike and subsequent variations may indicate corporate actions such as equity issuance, share repurchases, or changes in retained earnings.

Equity turnover, calculated as the ratio of revenue to stockholders’ equity, shows data starting in the quarter ending March 31, 2021. A dip is observed in late 2021 through much of 2022, with ratios declining to as low as 0.76 in the third quarter of 2022. However, from late 2022 onward, equity turnover improves consistently, rising from 0.89 to a peak around 1.37 in the third quarter of 2024 before slightly declining to 1.34 by the first quarter of 2025. This upward movement indicates improving efficiency in using equity to generate revenue, suggesting the company may be managing its capital base more effectively as revenue grows.

Overall, the financial data corresponds to a company experiencing steady revenue growth accompanied by a fluctuating but generally rising equity base. The improvement in equity turnover in recent quarters suggests enhanced capital utilization efficiency despite fluctuations in stockholders' equity. This pattern points to operational progress and potentially strategic financial management actions during the timeframe.

Revenue

Exhibits consistent growth from $1,077 million to $3,032 million, indicating expanding business scale or market share gains.

Stockholders’ Equity

Shows variability with an important increase mid-2022, then stabilizing and gradually increasing to $8,389 million, possibly reflecting corporate finance activities.

Equity Turnover

Improved after a low point in 2022, rising towards 1.34-1.37 range, demonstrating better efficiency in revenue generation relative to investors' equity.