Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2020
- Current Ratio since 2020
- Price to Book Value (P/BV) since 2020
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Historical Valuation Ratios (Summary)
DoorDash, Inc., historical price multiples (quarterly data)
Based on: 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), 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).
- Price to Earnings (P/E) Ratio
- This metric is available only from March 31, 2025, onwards. It shows a very high valuation, starting at 728.78 and then significantly declining to 221.23 and further down to 141.17 by September 30, 2025. Despite the decrease, these values indicate the stock remains highly valued relative to earnings, possibly reflecting low earnings or heightened investor expectations during this period.
- Price to Operating Profit (P/OP) Ratio
- Data is present only for June 30, 2025, and September 30, 2025, with values of 421.34 and 203.41, respectively. Similar to the P/E ratio, the P/OP is very elevated but shows a notable decline, suggesting improving operating profitability or a price adjustment during these quarters.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio exhibits some volatility over the observed periods. It starts at 7.3 on March 31, 2022, and experiences a decline to 3.3 by December 31, 2022. Thereafter, it fluctuates moderately, with values ranging roughly between 3.2 and 6.35 until March 31, 2025. The ratio increases sharply to 8.36 by June 30, 2025, before dropping slightly to 6.67 and climbing again to 9.27 by September 30, 2025. These trends suggest varying investor sentiment relative to the company's sales performance, with occasional spikes possibly linked to market events or earnings announcements.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a general downward trend from 10.09 on March 31, 2021, reaching a low of 2.93 by September 30, 2022. Following this trough, the ratio increases steadily, peaking at 11.49 on December 31, 2024. It then remains elevated, with slight fluctuations, reaching 12.36 by September 30, 2025. This trajectory indicates an initial period of declining market valuation relative to book value, potentially due to asset value adjustments or market skepticism. The subsequent rebound and sustained higher ratios imply renewed investor confidence or improved asset appreciation in later periods.
Price to Earnings (P/E)
DoorDash, Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) attributable to DoorDash, Inc. common stockholders (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Airbnb Inc. | ||||||||||||||||||||||||
| Booking Holdings Inc. | ||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | ||||||||||||||||||||||||
| McDonald’s Corp. | ||||||||||||||||||||||||
| Starbucks Corp. | ||||||||||||||||||||||||
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (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
+ Net income (loss) attributable to DoorDash, Inc. common stockholdersQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends and patterns across the share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the covered periods.
- Share Price
- The share price exhibited significant volatility throughout the observed quarters. It started at a high level around 141.07 US$ in March 2021 and increased to a peak exceeding 214 US$ by September 2021. Subsequently, a sharp decline was noted by December 2021, where the price fell dramatically to approximately 102.43 US$. After this, the price continued to decline and reached lows near the range of 51.57 to 54.19 US$ between September and December 2022. Beginning 2023, the share price showed recovery and experienced a generally upward trajectory, with notable increases leading to a peak of 258.08 US$ by June 2025. Overall, the share price moved from very high initial values, through a considerable trough, and then entered a period of sustained growth in the final quarters.
- Earnings per Share (EPS)
- EPS was initially negative and showed a worsening trend from March 2022 to December 2022, reaching its lowest point at approximately -3.5 US$. Following this bottom, a gradual improvement trend was observed starting in March 2023, with EPS moving steadily toward profitability. By the end of the data period in June 2025, EPS became positive, reaching about 1.83 US$. This transition from increasing losses to positive earnings suggests a return to profitability and operational improvement over time.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio data is only available for more recent periods and shows very high values: 728.78, 221.23, and 141.17 across successive quarters. Such elevated P/E ratios typically indicate market expectations of strong future growth or reflect low current earnings relative to share price. The decreasing trend in the P/E ratio suggests either improving earnings or some market recalibration of growth expectations as earnings improved.
In summary, the financial data portrays a company undergoing initial operational and market challenges reflected in deteriorating EPS and volatile share prices, followed by a phase of recovery with positive earnings growth and rising share values. The very high P/E ratios seen in later quarters reflect market optimism, albeit with signs of moderation as earnings strengthened. These patterns are indicative of a cyclical transformation from losses to profitability accompanied by renewed investor confidence.
Price to Operating Profit (P/OP)
DoorDash, Inc., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Income (loss) from operations (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Airbnb Inc. | ||||||||||||||||||||||||
| Booking Holdings Inc. | ||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | ||||||||||||||||||||||||
| McDonald’s Corp. | ||||||||||||||||||||||||
| Starbucks Corp. | ||||||||||||||||||||||||
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited significant volatility over the examined period. Initially, there was a sharp increase from $141.07 at the end of Q1 2021 to a peak of $214.24 in Q3 2021. This was followed by a steep decline to $51.57 by Q3 2022. Subsequently, the share price showed signs of recovery, climbing progressively from $54.19 in Q4 2022 to $258.08 by Q2 2025, indicating renewed investor confidence or improved market conditions.
- Operating Profit Per Share (OPPS) Dynamics
- Operating profit per share was not available until Q4 2021, starting at a loss of $1.30 per share. The losses deepened through 2022, reaching a low of $2.89 in Q2 2023. From this nadir, the operating loss gradually narrowed, turning positive in Q1 2025 at $0.42 and increasing further to $1.27 by Q2 2025. This trend suggests operational improvements and better profitability margins over time.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio became available from Q1 2025 onward, reflecting the relationship between share price and operating profit per share. The ratio decreased from an extremely high 421.34 to 203.41 by Q2 2025. This decrease in ratio, alongside increasing profitability, indicates a more balanced valuation relative to operating earnings, possibly reflecting market adjustment to improved financial performance.
Price to Sales (P/S)
DoorDash, Inc., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Revenue (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Airbnb Inc. | ||||||||||||||||||||||||
| Booking Holdings Inc. | ||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | ||||||||||||||||||||||||
| McDonald’s Corp. | ||||||||||||||||||||||||
| Starbucks Corp. | ||||||||||||||||||||||||
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analyzed data reveals several notable trends in key financial metrics over the examined periods. The share price exhibits considerable volatility, initially peaking near 214.24 US$ before declining sharply to lows around the low 50s, followed by a resurgence in subsequent quarters, ultimately reaching a high above 250 US$ by the end of the series. This indicates significant market fluctuations and investor sentiment shifts within the period.
Sales per share, commencing from the earliest available value, show a consistent upward trajectory throughout the timeline. Starting from a baseline near 14.03 US$, this metric steadily increases each quarter, culminating above 27.8 US$ by the latest date. This growth suggests ongoing improvements in revenue generation on a per-share basis, reflecting positive operational trends.
The Price-to-Sales (P/S) ratio demonstrates a complex pattern. Initially, the ratio is quite elevated at 7.3, then sharply declines to 4.81 before alternating between decreases and recoveries in intermediate quarters. The lower P/S ratios coincide with periods of declining share price, indicating market revaluation. Notably, the ratio peaks again near 9.27 in the final reported quarter, suggesting heightened investor expectations or valuation relative to sales at that time.
- Share Price Trend
- Marked by high volatility with an early peak followed by a notable decline and later recovery resulting in a strong final value.
- Sales per Share Trend
- Demonstrates consistent and steady growth, implying sustained revenue expansion per share over the timeline.
- P/S Ratio Trend
- Reflects market valuation shifts, initially high, falling during periods of share price weakness, then rising again toward the end, suggesting changing investor sentiment and expectations.
Overall, the financial metrics reflect an environment of market fluctuations balanced by underlying fundamental growth in sales per share. The rising sales per share support a positive outlook for operational performance, while the volatile share price and P/S ratio indicate varying perceptions of value among investors during the period analyzed.
Price to Book Value (P/BV)
DoorDash, Inc., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Airbnb Inc. | ||||||||||||||||||||||||
| Booking Holdings Inc. | ||||||||||||||||||||||||
| Chipotle Mexican Grill Inc. | ||||||||||||||||||||||||
| McDonald’s Corp. | ||||||||||||||||||||||||
| Starbucks Corp. | ||||||||||||||||||||||||
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The share price exhibited significant volatility over the observed quarters. Initially, it rose sharply from $141.07 at the end of Q1 2021 to a peak of $214.24 in Q3 2021, before undergoing a marked decline to $51.57 in Q3 2022. Following this downturn, a gradual recovery is evident, with the price reaching $258.08 by Q2 2025, exceeding prior peaks and indicating a strong upward momentum in the later periods.
Book value per share (BVPS) showed a relatively stable and gradual upward trend throughout the observed quarters. Starting at $13.98 in Q1 2021, BVPS demonstrated minor fluctuations but generally increased, reaching $20.89 by Q2 2025. This growth in book value per share suggests consistent strengthening of the company’s net asset value.
The Price-to-Book Value (P/BV) ratio moved in correlation with the share price fluctuations but also reflected changes in BVPS. Initially high at 10.09 in Q1 2021, the ratio peaked at 15.75 in Q3 2021, concurrent with the share price peak. Subsequent sharp declines brought the P/BV down to a low of 2.93 in Q3 2022, mirroring the share price trough. Afterwards, the ratio increased again, reaching values above 12 by mid-2025, indicating that market valuations relative to book value became elevated once more in recent periods.
Overall, the data shows a period of initial price escalation followed by a significant correction, with underlying book value per share growing steadily. The recovery and surpassing of previous share price highs toward the end of the timeline imply renewed market confidence or improved operational performance, driving the market valuation above historical levels relative to book value.
- Share Price
- Highly volatile with an initial upward trend early in the timeline, a sharp decline in late 2021 through 2022, and a strong recovery by 2025 exceeding prior highs.
- Book Value per Share (BVPS)
- Steady and gradual increase across the quarters, indicating growth in net asset value over time.
- Price-to-Book Value Ratio (P/BV)
- Fluctuated widely in line with share price movements but reflecting a recovery that pushed valuations above previous peaks, indicating elevated market expectations relative to book value.