Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
DoorDash, Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Gross Profit Margin
- The gross profit margin indicates a generally declining trend from the first available data point at 52.17% to a low of 45.5% by March 31, 2023. After this trough, the margin demonstrates a gradual recovery, reaching 49.19% by March 31, 2025. This suggests some stabilization and improvement in core profitability after a period of pressure.
- Operating Profit Margin
- The operating profit margin exhibits a consistent negative performance over the periods covered. Starting at -9.25% in December 31, 2021, it worsened to -17.07% at December 31, 2022. Subsequently, there is a notable recovery trend whereby the loss narrows steadily, reaching a positive operating profit of 1.58% by March 31, 2025. This indicates significant operational improvements and potentially better cost management or revenue growth over time.
- Net Profit Margin
- The net profit margin follows a pattern similar to the operating margin, with negative values throughout the earlier periods. The lowest point occurred at -20.74% on March 31, 2023. Following this, the net margin improves consistently, moving to a positive 3.02% by March 31, 2025. This signals an overall improvement in profitability after accounting for all expenses, taxes, and non-operating items.
- Return on Equity (ROE)
- ROE remains negative from the earliest data available in December 31, 2021, at -10.03% through March 31, 2023, where it reaches its nadir of -20.85%. Thereafter, a steady upward trajectory is evident, culminating in a positive return of 4.04% by March 31, 2025. This suggests enhanced ability to generate shareholder value, possibly due to improved net income or better equity utilization.
- Return on Assets (ROA)
- The ROA follows a negative trend initially, starting at -6.87% in December 31, 2021 and dipping to -14.09% by March 31, 2023. It subsequently recovers to a positive 2.5% by March 31, 2025. This reflects improved efficiency in utilizing assets to generate profit over time, consistent with the improvements seen in other profitability metrics.
Return on Sales
Return on Investment
Gross Profit Margin
DoorDash, Inc., gross profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Gross profit | 1,532) | 1,420) | 1,332) | 1,245) | 1,183) | 1,074) | 1,008) | 998) | 966) | 804) | 770) | 728) | 693) | 665) | 690) | 681) | 514) | ||||||
| Revenue | 3,032) | 2,873) | 2,706) | 2,630) | 2,513) | 2,303) | 2,164) | 2,133) | 2,035) | 1,818) | 1,701) | 1,608) | 1,456) | 1,300) | 1,275) | 1,236) | 1,077) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Gross profit margin1 | 49.19% | 48.31% | 47.62% | 46.93% | 46.78% | 46.86% | 46.33% | 46.03% | 45.63% | 45.50% | 47.09% | 49.23% | 51.81% | 52.17% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||
| Airbnb Inc. | 83.05% | 83.08% | 83.07% | 82.59% | 82.86% | 82.83% | 82.67% | 82.33% | 82.04% | 82.15% | 81.95% | 81.58% | 80.89% | 80.71% | — | — | — | ||||||
| Chipotle Mexican Grill Inc. | 26.37% | 26.67% | 26.87% | 27.10% | 26.66% | 26.20% | 25.91% | 25.67% | 25.05% | 23.88% | 23.00% | 22.49% | 22.20% | 22.62% | 22.58% | 21.58% | 18.70% | ||||||
| McDonald’s Corp. | 56.82% | 56.75% | 56.62% | 56.97% | 57.01% | 57.12% | 57.24% | 57.45% | 57.53% | 56.97% | 56.13% | 55.29% | 54.54% | 54.17% | 53.71% | 53.22% | 51.37% | ||||||
| Starbucks Corp. | 26.05% | 26.84% | 27.54% | 27.67% | 27.81% | 27.37% | 26.52% | 26.22% | 25.78% | 25.96% | 26.87% | 27.72% | 28.59% | 28.87% | 27.85% | 22.77% | 20.94% | ||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Gross profit margin = 100
× (Gross profitQ1 2025
+ Gross profitQ4 2024
+ Gross profitQ3 2024
+ Gross profitQ2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (1,532 + 1,420 + 1,332 + 1,245)
÷ (3,032 + 2,873 + 2,706 + 2,630)
= 49.19%
2 Click competitor name to see calculations.
- Gross Profit
- The gross profit shows a consistent upward trend over the entire period analyzed, starting at $514 million in the first quarter of 2021 and rising steadily to reach $1,532 million by the first quarter of 2025. This indicates a strong and continuous improvement in the company's ability to generate profit before operating expenses. Notably, the growth appears relatively smooth without significant fluctuations, demonstrating sustained operational performance.
- Revenue
- Revenue has also experienced steady growth from $1,077 million in the first quarter of 2021 to $3,032 million by the first quarter of 2025. The increase in revenue is consistent each quarter, reflecting expanding sales or service activities. This rising revenue trend supports the gross profit increase observed, emphasizing overall business growth over the period.
- Gross Profit Margin
- Gross profit margin data, available from the first quarter of 2022 onwards, shows a slight decline initially, dropping from 52.17% in March 2022 to a low of 45.5% in September 2022. However, following this dip, the margin begins to improve steadily, reaching 49.19% by March 2025. This pattern suggests that while the company initially faced a reduction in profitability relative to revenue, it managed to enhance efficiency or cost management over time, gradually restoring a higher margin percentage.
- Overall Insights
- The company exhibits robust growth in both revenue and gross profit, supporting an expanding business scale. The initial decline in gross profit margin followed by a steady recovery implies a period of adjustment or increased costs, which were effectively mitigated in subsequent quarters. The trajectory of financial performance indicates improved operational management and profitability enhancements over the analyzed period.
Operating Profit Margin
DoorDash, Inc., operating profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Income (loss) from operations | 155) | 117) | 107) | (201) | (61) | (89) | (108) | (211) | (171) | (370) | (308) | (273) | (173) | (154) | (100) | (99) | (99) | ||||||
| Revenue | 3,032) | 2,873) | 2,706) | 2,630) | 2,513) | 2,303) | 2,164) | 2,133) | 2,035) | 1,818) | 1,701) | 1,608) | 1,456) | 1,300) | 1,275) | 1,236) | 1,077) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Operating profit margin1 | 1.58% | -0.35% | -2.40% | -4.78% | -5.15% | -6.71% | -10.55% | -13.79% | -15.67% | -17.07% | -14.97% | -12.41% | -9.99% | -9.25% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||
| Airbnb Inc. | 22.17% | 23.00% | 15.01% | 15.21% | 15.86% | 15.31% | 23.42% | 21.53% | 20.69% | 21.45% | 20.46% | 17.49% | 13.17% | 7.17% | — | — | — | ||||||
| Booking Holdings Inc. | 32.49% | 31.83% | 27.92% | 28.39% | 28.07% | 27.31% | 31.85% | 31.29% | 29.59% | 29.85% | 28.74% | 27.56% | 23.83% | 22.78% | 16.22% | -2.86% | -11.21% | ||||||
| Chipotle Mexican Grill Inc. | 17.01% | 16.94% | 16.97% | 16.75% | 15.99% | 15.78% | 15.63% | 15.42% | 14.89% | 13.44% | 12.15% | 11.36% | 10.65% | 10.67% | 10.61% | 9.22% | 6.02% | ||||||
| McDonald’s Corp. | 45.22% | 45.19% | 44.90% | 45.29% | 45.99% | 45.68% | 45.68% | 45.40% | 40.96% | 40.42% | 39.48% | 39.87% | 43.71% | 44.59% | 44.84% | 44.34% | 40.33% | ||||||
| Starbucks Corp. | 13.96% | 14.95% | 15.92% | 16.08% | 16.64% | 16.32% | 15.31% | 14.92% | 14.26% | 14.32% | 15.33% | 16.27% | 16.92% | 16.77% | 14.56% | 7.36% | 5.42% | ||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024
+ Income (loss) from operationsQ2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (155 + 117 + 107 + -201)
÷ (3,032 + 2,873 + 2,706 + 2,630)
= 1.58%
2 Click competitor name to see calculations.
The financial data indicates several notable trends over the observed periods. Revenue demonstrates consistent growth, increasing steadily from 1,077 million US dollars in March 2021 to 3,032 million US dollars by March 2025. This represents a substantial upward trajectory in top-line performance, reflecting an expanding market presence or higher sales volumes.
In contrast, the income (loss) from operations exhibits significant fluctuations and periodic losses over most of the periods, though with a marked improvement towards the most recent quarters. Initially, the company experienced considerable operational losses ranging from -99 million to -370 million US dollars between March 2021 and December 2022, indicating challenges in managing operating expenses or gross margins. However, starting from late 2024 and continuing through March 2025, the income shifted into positive territory, recording values of 107 million, 117 million, and 155 million US dollars. This shift signals enhanced operational efficiency or cost control measures yielding profitable outcomes.
The operating profit margin, which had been negative through almost the entire timeline, reflects the same patterns observed in operating income. Margins worsened to approximately -17% in late 2021 and 2022, showing a period of increased operational losses relative to revenue. Over time, the margin progressively improved, moving closer to breakeven and ultimately crossing into positive figures by late 2024 and early 2025, with a margin of 1.58% in March 2025. This gradual improvement in margin underlines effective efforts to achieve operational profitability.
Overall, the data reveals a company experiencing strong revenue growth accompanied by early operational challenges, which it manages to overcome by optimizing operations and reducing losses. The transition from negative to positive operating income and profit margins in recent quarters highlights a successful strategic shift towards sustainable profitability.
Net Profit Margin
DoorDash, Inc., net profit margin calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | (155) | (101) | (102) | (110) | ||||||
| Revenue | 3,032) | 2,873) | 2,706) | 2,630) | 2,513) | 2,303) | 2,164) | 2,133) | 2,035) | 1,818) | 1,701) | 1,608) | 1,456) | 1,300) | 1,275) | 1,236) | 1,077) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| Net profit margin1 | 3.02% | 1.15% | -1.69% | -4.24% | -4.61% | -6.46% | -12.81% | -16.47% | -18.98% | -20.74% | -14.51% | -12.17% | -9.97% | -9.57% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||
| Airbnb Inc. | 22.60% | 23.85% | 16.96% | 46.11% | 48.23% | 48.32% | 56.87% | 25.31% | 23.30% | 22.54% | 20.29% | 16.91% | 12.12% | -5.88% | — | — | — | ||||||
| Booking Holdings Inc. | 22.58% | 24.78% | 21.85% | 22.46% | 21.81% | 20.07% | 25.70% | 23.04% | 22.14% | 17.89% | 15.24% | 10.54% | 4.16% | 10.63% | 4.15% | 5.77% | 12.44% | ||||||
| Chipotle Mexican Grill Inc. | 13.59% | 13.56% | 13.51% | 13.23% | 12.70% | 12.45% | 12.27% | 12.00% | 11.49% | 10.41% | 9.61% | 9.28% | 8.74% | 8.65% | 9.88% | 8.57% | 6.44% | ||||||
| McDonald’s Corp. | 31.75% | 31.72% | 31.79% | 32.25% | 33.36% | 33.22% | 33.31% | 33.06% | 29.36% | 26.65% | 25.41% | 25.77% | 29.93% | 32.49% | 32.33% | 31.72% | 26.31% | ||||||
| Starbucks Corp. | 9.73% | 10.40% | 11.16% | 11.38% | 11.70% | 11.46% | 10.80% | 10.46% | 10.09% | 10.18% | 13.03% | 14.07% | 14.47% | 14.45% | 10.43% | 4.18% | 2.87% | ||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
Net profit margin = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2024)
÷ (RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024
+ RevenueQ2 2024)
= 100 × (193 + 141 + 162 + -157)
÷ (3,032 + 2,873 + 2,706 + 2,630)
= 3.02%
2 Click competitor name to see calculations.
- Revenue Trend
- Revenue shows a consistent upward trend throughout the periods analyzed, increasing from 1,077 million US dollars in March 2021 to 3,032 million US dollars in March 2025. The growth rate appears steady, with no periods of decline, reflecting strong top-line performance over the four-year span.
- Net Income (Loss) Behavior
- Net income attributable to common stockholders demonstrates high volatility. The company experienced persistent losses from March 2021 through June 2024, with the worst loss recorded in December 2022 at -640 million US dollars. From September 2024 onward, the company begins to report positive net income, reaching 193 million US dollars by March 2025, indicating a potentially significant turnaround in profitability.
- Net Profit Margin Evolution
- The net profit margin was negative during the earlier periods, hitting a nadir around December 2022 at approximately -20.74%. Following this, the margins progressively improved, turning positive starting in the September 2024 period and reaching 3.02% by March 2025. This improvement corresponds with the shift from net losses to net income.
- Comprehensive Insight
- Overall, the data suggests a company undergoing substantial growth in revenue accompanied by initial challenges in profitability, culminating in large net losses. However, the last several quarters signal a positive shift towards profitability, marked by improving net profit margins and actual net income gains. This pattern may imply effective cost management, operational improvements, or favorable market conditions beginning in late 2024 and continuing into 2025.
Return on Equity (ROE)
DoorDash, Inc., ROE calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | (155) | (101) | (102) | (110) | ||||||
| Stockholders’ equity | 8,389) | 7,803) | 7,569) | 7,162) | 6,999) | 6,806) | 6,559) | 6,396) | 6,518) | 6,754) | 6,825) | 7,410) | 4,652) | 4,667) | 4,666) | 4,619) | 4,555) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROE1 | 4.04% | 1.58% | -2.27% | -5.68% | -6.00% | -8.20% | -15.92% | -19.79% | -20.85% | -20.21% | -12.89% | -9.26% | -11.29% | -10.03% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||
| Airbnb Inc. | 31.98% | 31.48% | 21.65% | 60.53% | 62.55% | 58.69% | 59.85% | 45.46% | 38.34% | 34.05% | 29.40% | 23.80% | 16.92% | -7.37% | — | — | — | ||||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | 374.67% | 109.92% | 66.51% | 38.58% | 11.89% | 18.86% | 6.89% | 8.63% | 14.76% | ||||||
| Chipotle Mexican Grill Inc. | 44.73% | 41.97% | 41.08% | 37.99% | 38.57% | 40.13% | 40.55% | 40.27% | 41.60% | 37.97% | 34.75% | 35.10% | 32.06% | 28.42% | 30.74% | 26.97% | 19.38% | ||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROE = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2024)
÷ Stockholders’ equity
= 100 × (193 + 141 + 162 + -157)
÷ 8,389 = 4.04%
2 Click competitor name to see calculations.
- Net Income (Loss) Attributable to Common Stockholders
- The net income figures over the periods exhibit a primarily negative trend from March 2021 through December 2023, indicating sustained losses. Notably, the losses deepen significantly by the end of 2022, reaching a peak loss of -640 million USD in December 2022. Following this nadir, a gradual improvement is observed starting in 2023, with fluctuations but an overall move toward profitability. By the first quarter of 2024, net losses narrow substantially, and from the third quarter of 2024 onwards, net income turns positive, reaching 193 million USD in March 2025. This shift suggests a significant turnaround in profitability.
- Stockholders’ Equity
- Stockholders’ equity remains relatively stable in the early quarters of 2021 around 4,500 to 4,700 million USD. There is a notable increase in the second quarter of 2022, where equity rises sharply to over 7,400 million USD. Following this peak, equity slightly declines and then stabilizes in the 6,500 to 7,000 million USD range for subsequent quarters through 2023. Starting in 2024, stockholders’ equity resumes an upward trajectory, ultimately reaching approximately 8,400 million USD by the first quarter of 2025. The increase in equity during 2022 likely reflects capital inflows or retained earnings, which supports the company's financial base.
- Return on Equity (ROE)
- Return on equity data is missing for the first three quarters of 2021 but becomes available from the fourth quarter of 2021 onward. Initially, ROE is negative, reflecting the losses during this period. The ROE worsens substantially in 2022, reaching almost -21% at mid-year, consistent with the peak losses reported. However, from late 2023 through 2024, there is a continuous improvement in ROE, moving from large negative values toward zero. By early 2025, ROE turns positive, progressing to above 4%, confirming the recovery indicated by net income trends. This pattern underscores the company’s transition from significant losses to generating positive returns on equity.
- Overall Financial Trend
- The data delineates a clear cycle of financial distress followed by recovery. The company experienced deepening losses through late 2022, coinciding with deteriorating ROE and a temporary stabilization of equity after a marked increase. Following this period, indicators suggest operational improvement, manifested in the gradual normalization of net income and positive returns to shareholders by early 2025. The steady increase in stockholders’ equity alongside improving profitability metrics points to enhanced financial health and possibly more efficient capital management.
Return on Assets (ROA)
DoorDash, Inc., ROA calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | (155) | (101) | (102) | (110) | ||||||
| Total assets | 13,572) | 12,845) | 12,277) | 11,837) | 11,450) | 10,839) | 10,013) | 9,601) | 9,646) | 9,789) | 9,552) | 9,928) | 6,822) | 6,809) | 6,358) | 6,182) | 5,902) | ||||||
| Profitability Ratio | |||||||||||||||||||||||
| ROA1 | 2.50% | 0.96% | -1.40% | -3.44% | -3.67% | -5.15% | -10.43% | -13.19% | -14.09% | -13.94% | -9.21% | -6.91% | -7.70% | -6.87% | — | — | — | ||||||
| Benchmarks | |||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||
| Airbnb Inc. | 10.13% | 12.63% | 8.29% | 18.40% | 20.13% | 23.21% | 25.47% | 10.85% | 10.13% | 11.80% | 10.13% | 6.55% | 4.70% | -2.57% | — | — | — | ||||||
| Booking Holdings Inc. | 20.00% | 21.23% | 18.00% | 17.62% | 17.31% | 17.62% | 20.68% | 16.78% | 15.96% | 12.06% | 11.06% | 6.30% | 2.32% | 4.93% | 1.64% | 1.73% | 2.97% | ||||||
| Chipotle Mexican Grill Inc. | 17.26% | 16.67% | 16.47% | 15.81% | 15.41% | 15.27% | 14.79% | 14.75% | 14.64% | 12.98% | 11.86% | 11.55% | 10.58% | 9.81% | 10.72% | 9.28% | 6.61% | ||||||
| McDonald’s Corp. | 14.49% | 14.90% | 14.68% | 15.44% | 16.06% | 15.08% | 16.00% | 15.86% | 13.22% | 12.25% | 12.19% | 12.35% | 13.98% | 14.01% | 13.81% | 13.29% | 10.10% | ||||||
| Starbucks Corp. | 11.03% | 12.00% | 13.52% | 14.16% | 14.71% | 14.01% | 13.17% | 12.43% | 11.75% | 11.73% | 14.80% | 15.19% | 15.24% | 13.38% | 9.59% | 3.51% | 2.22% | ||||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
1 Q1 2025 Calculation
ROA = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2024
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2024)
÷ Total assets
= 100 × (193 + 141 + 162 + -157)
÷ 13,572 = 2.50%
2 Click competitor name to see calculations.
The financial data demonstrates varying trends in profitability and asset growth over the observed quarters, highlighting important shifts in operational performance.
- Net Income (Loss)
- The net income attributable to the common stockholders exhibits a pattern of persistent losses from March 2021 through December 2023, with the magnitude of losses peaking notably in December 2022 at -640 million USD. Throughout 2024, the losses narrowed substantially, transitioning to positive net income beginning in the third quarter of 2024. The amount increased to a high of 193 million USD by the first quarter of 2025, indicating a significant improvement in profitability towards the end of the observed period.
- Total Assets
- Total assets showed steady growth over the years, rising from approximately 5.9 billion USD in March 2021 to over 13.5 billion USD by March 2025. This continuous asset base expansion suggests ongoing investments or acquisitions, supporting future business operations and potential revenue generation.
- Return on Assets (ROA)
- ROA data, available from September 2021 onwards, reveals generally negative returns through most of the period, reflecting the losses reported. The worst ROA was recorded in December 2022 at -14.09%. However, there is a clear improving trend starting in late 2023 and continuing into 2025. By March 2025, ROA turns positive at 2.5%, indicating increased efficiency in asset utilization and a shift towards profitability.
Overall, the data suggests the company faced sustained financial challenges in early periods, with losses deepening until late 2022. However, expanding asset size and a subsequent recovery in profitability and asset returns by early 2025 point to a possible strategic turnaround or operational enhancements. Monitoring continued improvement in net income and ROA will be crucial to confirm the persistence of this positive trajectory.