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: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
- Gross Profit Margin
- The gross profit margin shows a generally declining trend from March 2022 to December 2022, decreasing from 51.81% to 45.5%. Beginning in early 2023, the margin stabilizes and gradually improves, reaching 50.49% by September 2025. This suggests an initial reduction in direct profitability followed by a recovery and modest growth in production or service efficiency over the longer term.
- Operating Profit Margin
- The operating profit margin declines progressively from -9.99% in March 2022 to its lowest point of -17.07% in December 2022, indicating worsening operational efficiency or increased operating expenses during this period. From 2023 onward, the margin improves consistently, turning positive in mid-2025 and reaching 5.48% by September 2025. This reflects a substantial improvement in managing operating costs or increasing operating income over time.
- Net Profit Margin
- Net profit margin trends mirror the operating margin, starting negative at -9.97% in March 2022 and deteriorating to -20.74% in December 2022. Thereafter, a clear recovery phase is visible with margins improving steadily, crossing into positive territory by early 2025, and reaching 6.83% by September 2025. This indicates overall enhanced profitability after accounting for all expenses, taxes, and financial costs.
- Return on Equity (ROE)
- The return on equity demonstrates a downward trend from -11.29% in March 2022 to -20.85% by March 2023, signaling a period of diminished shareholder value creation or losses. Beginning mid-2023, ROE improves markedly, becoming positive by early 2025 and climbing to 9.09% by September 2025. This reflects growing efficiency in utilizing shareholder funds to generate earnings and signals a turnaround in financial performance.
- Return on Assets (ROA)
- Return on assets declines from -7.7% in March 2022 to a low of -14.09% in March 2023, indicating deteriorated asset utilization during that timeframe. Improvement follows, with ROA moving into positive territory by early 2025 and reaching 4.8% by September 2025. This progression shows enhanced effectiveness in using assets to generate profit, aligning with improvements seen in other profitability metrics.
Return on Sales
Return on Investment
Gross Profit Margin
DoorDash, Inc., gross profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||
| Gross profit | 1,759) | 1,668) | 1,532) | 1,420) | 1,332) | 1,245) | 1,183) | 1,074) | 1,008) | 998) | 966) | 804) | 770) | 728) | 693) | |||||
| Revenue | 3,446) | 3,284) | 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) | |||||
| Profitability Ratio | ||||||||||||||||||||
| Gross profit margin1 | 50.49% | 50.04% | 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% | |||||
| Benchmarks | ||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||
| Airbnb Inc. | 83.04% | 83.23% | 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% | |||||
| Chipotle Mexican Grill Inc. | 25.72% | 25.98% | 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% | |||||
| McDonald’s Corp. | 57.42% | 56.99% | 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% | |||||
| Starbucks Corp. | 23.68% | 24.97% | 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% | |||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2025 Calculation
Gross profit margin = 100
× (Gross profitQ3 2025
+ Gross profitQ2 2025
+ Gross profitQ1 2025
+ Gross profitQ4 2024)
÷ (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
= 100 × (1,759 + 1,668 + 1,532 + 1,420)
÷ (3,446 + 3,284 + 3,032 + 2,873)
= 50.49%
2 Click competitor name to see calculations.
- Revenue Trends
- Revenue demonstrates a consistent upward trajectory over the reported quarters, increasing from $1,456 million in the first quarter of 2022 to $3,446 million by the third quarter of 2025. This growth reflects a strong expansion in sales or service income over the period, nearly doubling in approximately three and a half years.
- Gross Profit Trends
- Gross profit has also shown a steady increase, rising from $693 million in the first quarter of 2022 to $1,759 million in the third quarter of 2025. This indicates that the company has been able to increase its earnings after accounting for direct costs consistently in line with revenue growth.
- Gross Profit Margin Trends
- The gross profit margin reveals an improving efficiency or pricing power, starting at 51.81% in the first quarter of 2022, then experiencing a decline to a low of 45.5% by the end of 2022. After this dip, the margin begins to recover gradually, reaching 50.49% by the third quarter of 2025. The initial decline suggests possible increased cost pressures or pricing adjustments, whereas the later recovery indicates successful margin management or cost control measures.
- Overall Insight
- The data reflect significant revenue growth accompanied by increasing gross profits and a recovering gross profit margin. The early decline in margin followed by a sustained improvement suggests the company experienced some initial operational or market challenges but subsequently managed to enhance profitability and efficiency. The improvement in gross profit margin coupled with growing revenue points to a positive overall financial momentum moving towards greater profitability and operational competence.
Operating Profit Margin
DoorDash, Inc., operating profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||
| Income (loss) from operations | 258) | 163) | 155) | 117) | 107) | (201) | (61) | (89) | (108) | (211) | (171) | (370) | (308) | (273) | (173) | |||||
| Revenue | 3,446) | 3,284) | 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) | |||||
| Profitability Ratio | ||||||||||||||||||||
| Operating profit margin1 | 5.48% | 4.56% | 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% | |||||
| Benchmarks | ||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||
| Airbnb Inc. | 22.65% | 22.50% | 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% | |||||
| Booking Holdings Inc. | 32.74% | 32.85% | 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% | |||||
| Chipotle Mexican Grill Inc. | 16.38% | 16.65% | 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% | |||||
| McDonald’s Corp. | 46.09% | 45.80% | 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% | |||||
| Starbucks Corp. | 10.81% | 12.51% | 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% | |||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2025 Calculation
Operating profit margin = 100
× (Income (loss) from operationsQ3 2025
+ Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024)
÷ (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
= 100 × (258 + 163 + 155 + 117)
÷ (3,446 + 3,284 + 3,032 + 2,873)
= 5.48%
2 Click competitor name to see calculations.
The financial data for the company reveals several notable trends over the observed periods.
- Revenue Growth
- Revenue demonstrates a consistent upward trajectory throughout the periods, increasing from $1,456 million in March 2022 to $3,446 million by September 2025. This steady growth suggests strong top-line expansion and successful market penetration or increased demand over time.
- Income (Loss) from Operations
- Operating income shows significant improvement over the same timeframe. Initially, the company experienced substantial operating losses, peaking at -$370 million in December 2022. However, a clear recovery trend begins thereafter, transitioning into positive operating income starting in September 2024, reaching $258 million by September 2025. This shift from loss to profitability indicates enhanced operational efficiency or effective cost management alongside growing revenues.
- Operating Profit Margin
- The operating profit margin starts deeply negative, at -9.99% in March 2022, worsening to -17.07% in December 2022. After this low, the margin gradually improves, crossing into positive territory near 1.58% in March 2025 and reaching 5.48% by September 2025. This reflects not only increased profitability but also improved scalability and cost control as revenue expands.
- Summary of Trends
- Overall, the data depicts a company transitioning from operating losses to profitability over three and a half years. Revenue growth appears robust and steady, while operational losses diminish and ultimately convert to operational profits. Improvement in operating profit margin corroborates this positive shift in financial health, suggesting improved operational leverage and potentially higher sustainable profitability going forward.
Net Profit Margin
DoorDash, Inc., net profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 244) | 285) | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | |||||
| Revenue | 3,446) | 3,284) | 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) | |||||
| Profitability Ratio | ||||||||||||||||||||
| Net profit margin1 | 6.83% | 6.57% | 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% | |||||
| Benchmarks | ||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||
| Airbnb Inc. | 22.03% | 22.67% | 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% | |||||
| Booking Holdings Inc. | 19.37% | 19.23% | 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% | |||||
| Chipotle Mexican Grill Inc. | 13.04% | 13.32% | 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% | |||||
| McDonald’s Corp. | 32.04% | 32.21% | 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% | |||||
| Starbucks Corp. | 7.18% | 8.61% | 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% | |||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2025 Calculation
Net profit margin = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024)
÷ (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
= 100 × (244 + 285 + 193 + 141)
÷ (3,446 + 3,284 + 3,032 + 2,873)
= 6.83%
2 Click competitor name to see calculations.
The financial data reveals several notable trends and shifts over the course of the examined periods.
- Revenue Trends
- Revenue demonstrated consistent growth across all quarters, increasing steadily from $1,456 million in March 2022 to $3,446 million by September 2025. This indicates a strong and ongoing expansion in the company’s top-line performance, with particularly marked growth in the later periods.
- Net Income (Loss) Attributable to Common Stockholders
- During the initial quarters, net income was consistently negative, signifying losses that fluctuated but remained substantial, peaking with a loss of $640 million in December 2022. From March 2023 through the end of 2023, losses continued but showed a general trend towards reduction. Notably, starting from September 2024, the company reported positive net income consistently, with figures rising to $244 million by September 2025. This transition from loss to profit indicates improved operational efficiency and potentially successful cost management or revenue quality improvements.
- Net Profit Margin
- The net profit margin mirrored the trends in net income. It was negative throughout 2022 and much of 2023, reaching a low point of -20.74% in December 2022. Over the subsequent quarters, margins improved steadily, turning positive for the first time in September 2024 at 1.15%, and continuing to rise to 6.83% by September 2025. This progression underscores a strengthening profitability profile, suggesting the company is increasingly able to convert revenue into actual profit.
Overall, the financial data depicts a company undergoing a transformation from periods of significant losses to sustained profitability, supported by healthy revenue growth. The improving net profit margins further strengthen the financial outlook, pointing to enhanced operational leverage and possibly improved cost controls or revenue mix enhancements over time.
Return on Equity (ROE)
DoorDash, Inc., ROE calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 244) | 285) | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | |||||
| Stockholders’ equity | 9,495) | 8,923) | 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) | |||||
| Profitability Ratio | ||||||||||||||||||||
| ROE1 | 9.09% | 8.75% | 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% | |||||
| Benchmarks | ||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||
| Airbnb Inc. | 30.56% | 33.73% | 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% | |||||
| Booking Holdings Inc. | — | — | — | — | — | — | — | — | — | — | 374.67% | 109.92% | 66.51% | 38.58% | 11.89% | |||||
| Chipotle Mexican Grill Inc. | 47.69% | 43.70% | 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% | |||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2025 Calculation
ROE = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024)
÷ Stockholders’ equity
= 100 × (244 + 285 + 193 + 141)
÷ 9,495 = 9.09%
2 Click competitor name to see calculations.
The data reflects the financial performance and equity position over multiple quarters, highlighting notable fluctuations in net income and returns on equity.
- Net Income (Loss) Attributable to Common Stockholders
- The company experienced persistent net losses from early 2022 through mid-2023, with the lowest point observed in December 2022 at a loss of $640 million. From late 2023 onward, there is a visible improvement, transitioning from negative values to positive net income starting in the third quarter of 2024. This upward trend continued steadily through subsequent quarters, reaching a peak net income of $285 million in the first quarter of 2025.
- Stockholders’ Equity
- Stockholders’ equity showed significant growth from the first quarter of 2022 through mid-2022, increasing from $4.65 billion to $7.41 billion. After some fluctuations in the latter part of 2022 and early 2023, equity maintained a generally upward trajectory. By the first quarter of 2025, equity had increased further to $9.50 billion, indicating an overall strengthening of the company’s capital base during the observed period.
- Return on Equity (ROE)
- The return on equity consistently remained negative throughout most of the initial quarters, with the lowest ROE reaching -20.85% in the first quarter of 2023. However, as net income moved into positive territory, ROE displayed gradual improvement, turning positive by the last quarter of 2024. This positive momentum strengthened further into the first quarter of 2025, culminating in a ROE of approximately 9.09%, reflecting enhanced profitability relative to shareholder equity.
Overall, the financial data suggests a challenging period characterized by considerable losses and negative returns on equity, followed by a recovery phase marked by improved net income and profitability metrics. The steady accumulation of stockholders’ equity complements this recovery, underpinning the strengthening financial position over time.
Return on Assets (ROA)
DoorDash, Inc., ROA calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders | 244) | 285) | 193) | 141) | 162) | (157) | (23) | (154) | (73) | (170) | (161) | (640) | (295) | (263) | (167) | |||||
| Total assets | 17,971) | 16,950) | 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) | |||||
| Profitability Ratio | ||||||||||||||||||||
| ROA1 | 4.80% | 4.61% | 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% | |||||
| Benchmarks | ||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||
| Airbnb Inc. | 11.41% | 9.73% | 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% | |||||
| Booking Holdings Inc. | 17.54% | 15.69% | 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% | |||||
| Chipotle Mexican Grill Inc. | 16.55% | 16.64% | 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% | |||||
| McDonald’s Corp. | 13.89% | 14.09% | 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% | |||||
| Starbucks Corp. | 7.82% | 9.89% | 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% | |||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2025 Calculation
ROA = 100
× (Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ2 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ1 2025
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ4 2024)
÷ Total assets
= 100 × (244 + 285 + 193 + 141)
÷ 17,971 = 4.80%
2 Click competitor name to see calculations.
- Net Income (Loss) Analysis
- The net income attributable to common stockholders exhibits significant volatility over the analyzed periods. Initially, the company reported negative net income, with losses deepening notably by the end of 2022, reaching a peak loss in the December quarter. In early 2023, losses remained but were less severe compared to the prior year-end peak. From mid-2024 onward, the company transitioned to positive net income, demonstrating a clear upward trend that continued through the last reported quarter. The magnitude of net income improved substantially, moving from negative values to strong positive earnings by early 2025.
- Total Assets Analysis
- Total assets increased steadily throughout the reported periods. Starting at approximately 6.8 billion USD in early 2022, assets nearly tripled by the first quarter of 2025, reaching close to 18 billion USD. The pace of asset growth was relatively consistent with only minor fluctuations. This upward trend indicates ongoing asset accumulation, suggesting expansion or investment activities within the company.
- Return on Assets (ROA) Analysis
- Return on assets followed a distinct improvement pattern. Initially, ROA values were negative and declining, reaching the lowest point in late 2022, consistent with elevated net losses during that period. Subsequently, ROA began improving throughout 2023 and into 2024. It crossed into positive territory by the end of 2024 and accelerated further in 2025. The positive trajectory in ROA aligns with the turnaround in net income, indicating better asset utilization efficiency and enhancing profitability over time.
- Summary of Financial Trends
- Overall, the company experienced a challenging period marked by significant losses and low profitability through 2022 and early 2023. However, the financial position improved notably as asset growth continued steadily and profitability, as measured by net income and ROA, moved towards positive performance. The shift into positive net income and ROA by late 2024 and early 2025 indicates successful operational improvements or strategic initiatives. The sustained asset growth combined with improving returns suggests a strengthening financial foundation and improved effectiveness in generating profits from its asset base.