Aureus
AExcellent

DoorDash, Inc.(DASH)

A

Financial data as of Dec 31, 2025Declining · Consumer Discretionary

FCF Margin13.3%Free Cash Flow / Revenue
Cash Conversion260.0%Operating CF / Net Income
Free Cash Flow$1.8B
Revenue$13.7B
Net Cash$1.1BCash exceeds debt
Debt / FCF1.8xManageable debt load
Current Ratio1.41Adequate short-term liquidity
YoY FCF Growth-39.5%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (13.3%, 1.8x)
→
-1Significant YoY FCF decline (-39.5%)
→
+1Net cash position with strong FCF margin
→
+1Very low debt-to-FCF ratio (1.8x)
→
FinalA

Analysis Summary

Strengths

  • Healthy FCF margin (13.3%)
  • Excellent cash conversion (260%)
  • Net cash position ($1.1B)
  • Very low debt relative to cash flow (1.8x)

Concerns

  • Significant YoY FCF decline (-39.5%)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin13.3%
Net Margin6.8%
Operating CF Margin17.7%
CapEx Ratio4.4%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash$1.1BCash exceeds debt
Debt / FCF1.8xManageable debt load
Current Ratio1.41Adequate liquidity
Debt / Equity0.33Low leverage

Quarterly FCF Trend

-39.5% YoYDeclining (-39.5%)

Free cash flow per quarter

Sector Comparison — Consumer Discretionary

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameDoorDash, Inc.
SectorConsumer Discretionary
Free Cash Flow$1.8B
Revenue$13.7B
Net Income$935.0M
Operating Cash Flow$2.4B
Capital Expenditure$605.0M
FCF Margin13.3%
Cash Conversion Rate260.0%
Net Margin6.8%
Total Debt$3.3B
Total Cash$4.4B
Net Cash$1.1B
Current Ratio1.41
Debt / Equity0.33
Debt / FCF1.8x
YoY FCF Growth-39.5%
Positive Quarters5 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

Related Research

All research →
Sector Report4 min read

Consumer Discretionary: Eight A-Grades, Six Failures

Travel and fast food print 30%+ FCF margins. Auto and retail burn cash. Same sector, different planets.

Mar 27, 2026
ABNBBKNGMCDDECK+12