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).
Paying user area
Try for free
DoorDash, Inc. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2020
- Net Profit Margin since 2020
- Total Asset Turnover since 2020
- Price to Earnings (P/E) since 2020
- Price to Operating Profit (P/OP) since 2020
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to DoorDash, Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
DoorDash, Inc., historical price multiples (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).
The financial ratios over the observed quarters indicate several evolving trends in market valuation metrics relative to earnings, operating profit, sales, and book value.
- Price to Earnings (P/E)
-
Data for the P/E ratio is available only in the most recent quarters, specifically from the first quarter of 2024 onward. During this period, the P/E ratio shows a significant decline from an extremely high level of approximately 729 in March 2024 to 98 by December 2024. This sharp decrease suggests either an improvement in earnings or a reduction in stock price, with the former being more plausible given the magnitude of the ratio's drop. The trend indicates a move toward valuation normalization relative to earnings.
- Price to Operating Profit (P/OP)
-
Similar to the P/E ratio, P/OP figures appear only in the later part of the period and exhibit a notable decrease from around 421 in September 2024 to approximately 122 in December 2024. The high initial values followed by a rapid decline likely reflect improving operating profit margins or better market sentiment about operational efficiency, pointing toward enhanced profitability or investor confidence in the core business's operating performance.
- Price to Sales (P/S)
-
The P/S ratio shows variability over the entire observed period, starting around 4.81 in the first quarter of 2022. It declines to a low near 3.23 by the end of 2022, indicating a potential compression of sales valuation relative to market price. However, from 2023 through to early 2025, the P/S ratio rises, reaching a peak of over 9 in June 2025, before retreating somewhat to around 6.7 by September 2025. This increase followed by a slight correction suggests periods of heightened market optimism about sales growth prospects or improved revenue quality, tempered by later valuation adjustments.
- Price to Book Value (P/BV)
-
The P/BV ratio demonstrates an overall upward trajectory with fluctuations. Initially declining from 5.44 in March 2022 to a low near 2.93 in September 2022, it then gradually climbs through 2023 and peaks in mid-2025 just over 12. This trend indicates increasing market valuations relative to the company's book value, suggesting growing investor confidence in the company’s intrinsic asset value or expectations of future profitability surpassing book value. The volatility in this ratio also signals periods of market reassessment of the underlying asset base.
In summary, the valuation ratios indicate a general trend of increasing market valuation multiples over time, particularly noticeable in the price to sales and price to book value ratios. The more recent introduction and subsequent sharp declines in price to earnings and price to operating profit ratios imply improvements in profitability metrics and possibly a market reassessment of earnings quality or sustainability. Overall, these patterns reflect evolving investor sentiment that shifts between optimism about growth prospects and adjustments to profitability realities.
Price to Earnings (P/E)
DoorDash, Inc., historical P/E 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-09-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (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)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibits significant volatility within the periods analyzed. Initially, the price increased from $72.11 in March 2022 to $80.29 in June 2022, then declined to $51.57 by September 2022. It stabilized around the mid-50s by December 2022 and rose again in 2023, reaching $115.48 by December 2023. A notable upward trajectory is observed from March 2024 onward, with the share price climbing from $127.46 to a peak of $258.08 in June 2025, followed by a slight decrease to $196.46 in September 2025.
- Earnings Per Share (EPS) Trend
- EPS shows a consistent improvement over the periods. Initially negative and declining from -$1.49 in March 2022 to -$3.5 in March 2023, it then improves steadily from -$3.22 in June 2023 to positive territory by December 2024 at $0.29. This positive momentum continues with EPS reaching $2.00 by September 2025. The shift from deep negative EPS values to positive earnings indicates a recovery and enhanced profitability over time.
- Price-to-Earnings (P/E) Ratio Pattern
- P/E ratios are only available from March 2024 onwards. The ratios are extremely high initially, at 728.78, suggesting that the stock price might be overvalued relative to earnings or reflecting very low positive earnings at that time. However, the P/E ratio steadily decreases to 98.12 by September 2025, indicating that earnings growth is outpacing the rise in share price, potentially reflecting improving market confidence and valuation normalization.
- Overall Financial Performance Insights
- The company's financial performance shows an improving trend, from substantial losses to positive earnings. The share price reflects growing investor confidence and market expectation of future growth, particularly evident from early 2024 onwards. The reduction in P/E ratio alongside rising EPS suggests improving operational efficiency and profitability, which is positively affecting market valuation despite the earlier volatility in share price.
Price to Operating Profit (P/OP)
DoorDash, Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| 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: 2025-09-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ3 2025
+ Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several relevant trends in the company's performance and market valuation over the examined quarters.
- Share Price
-
The share price exhibits significant volatility with an overall upward trajectory. Starting at $72.11 at the end of Q1 2022, the price experiences fluctuations with notable peaks and troughs. Initial quarters show moderate variation, dipping to a low of $51.57 in Q3 2022, followed by a recovery period. From Q4 2023 onwards, a pronounced upward trend is evident, climaxing at $258.08 in Q2 2025. Despite some declines afterward, the share price remains substantially higher than the starting point, indicating strong investor confidence and market valuation growth over the medium term.
- Operating Profit Per Share (OPPS)
-
The operating profit per share starts in negative territory, illustrating operating losses. It declines progressively from -$1.50 in Q1 2022 to a trough near -$2.89 in Q2 2023. Thereafter, a recovery trend begins, with losses shrinking quarter over quarter. By Q4 2024, the OPPS turns almost neutral (-$0.09), and by early 2025, it moves into positive territory, reaching $1.61 in Q3 2025. This improvement indicates enhanced operational efficiency or increased profitability, reflecting successful cost management or revenue growth initiatives over time.
- Price to Operating Profit Ratio (P/OP)
-
Data for the price to operating profit ratio is only provided in the final three quarters of the dataset. The ratio decreases notably from an extremely high 421.34 in Q1 2025 to 122.18 by Q3 2025. This decline corresponds with the transition of operating profit per share from negative to positive values and indicates a movement toward a more normalized valuation metric. A high P/OP ratio commonly reflects overpriced shares relative to current profitability or anticipations of future profit improvements. The reduction suggests the market is adjusting share prices to better align with actual operating profits.
Overall, the company shows a positive financial trajectory through the period, progressing from substantial operating losses toward profitability, which is mirrored by a rising share price and a more reasonable valuation ratio. This association between improved profitability metrics and market valuation supports a growing investor confidence in the company’s prospects.
Price to Sales (P/S)
DoorDash, Inc., historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| 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: 2025-09-30), 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 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of DoorDash, Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibits considerable volatility over the observed period. Initially, it rose from 72.11 US$ to 80.29 US$ in the second quarter of 2022, then experienced a sharp decline to 51.57 US$ by the third quarter of 2022. Following this trough, the price showed a general upward trajectory with some fluctuations, reaching a peak of 213.38 US$ in the fourth quarter of 2024. The price then decreased to 196.46 US$ by the third quarter of 2025. Overall, the trend indicates significant growth in share price over the longer term despite intermittent fluctuations.
- Sales per Share
- Sales per share demonstrated consistent and steady growth throughout the entire timeline. Starting at 15 US$ in the first quarter of 2022, it increased quarter over quarter without any decline, reaching 29.32 US$ by the third quarter of 2025. This continuous increase suggests improving revenue generation on a per-share basis, indicating ongoing business expansion or enhanced sales performance.
- Price-to-Sales (P/S) Ratio
- The P/S ratio experienced notable fluctuations during the period. It peaked early at 5.5 in the second quarter of 2022, then dropped sharply to a low of 3.23 by the fourth quarter of 2022. After this dip, the ratio rose and fell intermittently, achieving new highs such as 8.36 in the fourth quarter of 2024 and 9.27 in the second quarter of 2025. Despite the volatility, the P/S ratio generally trended upwards in the later periods, reflecting a stronger market valuation relative to sales and potentially increasing investor confidence or expectations about future growth.
- Overall Insights
- The combined analysis indicates that while the share price is prone to volatility, the underlying sales per share have steadily increased, supporting long-term value growth. The fluctuating P/S ratio suggests changing market sentiment and valuation multiples over time, with heightened optimism evident towards the later quarters. This pattern is typical of growth-oriented companies where investors are willing to pay increasingly higher prices relative to sales as expectations for future performance rise.
Price to Book Value (P/BV)
DoorDash, Inc., historical P/BV 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 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2025-09-30), 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 Data adjusted for splits and stock dividends.
2 Q3 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 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data reveals significant fluctuations in the share price over the reported periods. The share price began at $72.11 and initially experienced variability, with a notable decline to $51.57, followed by a recovery and subsequent increases. From March 2023 onwards, the price exhibited a general upward trajectory, reaching a peak of $258.08 in June 2025 before decreasing to $196.46 by September 2025. This pattern indicates periods of both volatility and strong growth in market valuation.
Book value per share (BVPS) demonstrated a more stable and gradual increase throughout the periods. Starting at $13.24, the BVPS experienced minor fluctuations but maintained an overall upward trend, culminating in a value of $22.03 by the last reported quarter. This steady rise suggests an improvement in the company's accumulated equity on a per-share basis over time.
The price-to-book value ratio (P/BV) displayed considerable variability, reflecting the relationship between market perception and the company's net asset value. Initially, the ratio decreased from 5.44 to a low of 2.93, indicating a period where the market price was closer to the book value. Subsequently, the ratio increased sharply, peaking at 12.36 in June 2025 before retracting to 8.92. This volatility suggests changing investor sentiment and value assessments, with the market price increasingly diverging from the underlying book value in later periods.
- Share Price Trends
- Experienced fluctuations with an initial decline, followed by gradual recovery and strong growth, peaking significantly before a slight correction.
- Book Value per Share Trends
- Showed consistent, moderate growth over time, indicating strengthening equity per share.
- Price-to-Book Value Ratio Trends
- Varied widely, decreasing initially to a moderate level and then rising sharply, reflecting changing market valuations relative to book value.