Upside case
Bull case
$176+1.4%
DASH would need investors to value it at roughly 69x earnings — about 1x more generous than today's 68x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
DoorDash, Inc. (DASH) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
38
analysts
29 bullish · 0 bearish · 38 covering DASH
Strong Buy
1
Buy
28
Hold
9
Sell
0
Strong Sell
0
Consensus Target
$252
+45.5% vs today
Scenario Range
$84 – $176
Model bear to bull value window
Coverage
38
Published analyst ratings
Valuation Context
68.3x
Forward P/E · Market cap $75.6B
DASH price targets
Three scenarios for where DASH stock could go
Current
~$173
Confidence
61 / 100
Updated
Jun 18, 2026
Where we are now
Current · $173
Bear
$84
Base
$134
Bull
$176
Market caseClosest to today
Base case
$134-23.0%
At 53x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$84-51.5%
If investor confidence fades or macro conditions deteriorate, a 35x multiple contraction could push DASH down roughly 52% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
DoorDash, Inc.
DASH · NASDAQCommunication ServicesInternet Content & InformationDecember year-end
DoorDash operates a three-sided marketplace connecting restaurants, delivery drivers, and consumers for on-demand food delivery. It generates revenue primarily from commissions on orders — typically 15-30% from restaurants — plus delivery and service fees from customers, and subscription fees from its DashPass membership program. Its competitive advantage lies in its dense logistics network and scale, which creates a powerful network effect where more restaurants attract more customers, which in turn attracts more delivery drivers.
Market Cap
$75.6B
Revenue TTM
$14.7B
Net Income TTM
$925M
Net Margin
6.3%
DASH Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
42%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
-29.0%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$0.65/$0.44
Revenue
$3.3B/$3.2B
Q4 2025
EPS
$0.55/$0.68
Revenue
$3.4B/$3.4B
Q1 2026
EPS
$0.48/$0.59
Revenue
$4.0B/$4.0B
Q2 2026
EPS
$0.42/$0.36
Revenue
$4.0B/$4.2B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.65/$0.44 | +48.3% | $3.3B/$3.2B | +3.9% |
| Q4 2025 | $0.55/$0.68 | -19.5% | $3.4B/$3.4B | +2.7% |
| Q1 2026 | $0.48/$0.59 | -18.6% | $4.0B/$4.0B | -1.0% |
| Q2 2026 | $0.42/$0.36 | +15.8% | $4.0B/$4.2B | -2.8% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$17.3B
+17.2% YoY
FY2
$20.3B
+17.9% YoY
EPS Outlook
FY1
$2.30
+10.0% YoY
FY2
$2.97
+29.0% YoY
Trailing FCF (TTM)$1.8B
FCF Margin: 11.9%
Next Earnings
August 5, 2026
Expected EPS
$0.49
Expected Revenue
$4.3B
DASH beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
DASH Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $13.7B
Product Mix
Latest annual revenue by segment or product family
Reportable Segment
100.0%
+27.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
83.5%
+21.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Reportable Segment is the largest disclosed segment at 100.0% of FY 2025 revenue, up 27.9% YoY.
UNITED STATES is the largest reported region at 83.5%, up 21.9% YoY.
DASH Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $48 — implies -72.5% from today's price.
Premium to Fair Value
72.5%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
DASH
81.4x
vs
S&P 500
24.4x
+233% premium
vs Communication Services Trailing P/E
DASH
81.4x
vs
Communication Services
15.3x
+432% premium
vs DASH 5Y Avg P/E
Today
81.4x
vs
5Y Average
106.3x
23% discount
Forward PE
68.3x
S&P 500
18.8x
+263%
Communication Services
11.3x
+503%
5Y Avg
—
—
Trailing PE
81.4x
S&P 500
24.4x
+233%
Communication Services
15.3x
+432%
5Y Avg
106.3x
-23%
PEG Ratio
—
S&P 500
1.66x
—
Communication Services
0.64x
—
5Y Avg
—
—
EV/EBITDA
51.0x
S&P 500
15.2x
+235%
Communication Services
9.6x
+430%
5Y Avg
67.3x
-24%
Price/FCF
34.8x
S&P 500
20.7x
+68%
Communication Services
11.4x
+205%
5Y Avg
56.2x
-38%
Price/Sales
5.5x
S&P 500
3.1x
+78%
Communication Services
1.0x
+441%
5Y Avg
6.3x
-13%
Dividend Yield
—
S&P 500
1.91%
—
Communication Services
3.43%
—
5Y Avg
—
—
| Metric | DASH | S&P 500 | Communication Services | 5Y Avg DASH |
|---|---|---|---|---|
| Forward PE | 68.3x | 18.8x+263% | 11.3x+503% | — |
| Trailing PE | 81.4x | 24.4x+233% | 15.3x+432% | 106.3x-23% |
| PEG Ratio | — | 1.66x | 0.64x | — |
| EV/EBITDA | 51.0x | 15.2x+235% | 9.6x+430% | 67.3x-24% |
| Price/FCF | 34.8x | 20.7x+68% | 11.4x+205% | 56.2x-38% |
| Price/Sales | 5.5x | 3.1x+78% | 1.0x+441% | 6.3x-13% |
| Dividend Yield | — | 1.91% | 3.43% | — |
DASH trades above S&P 500 benchmarks on 5 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolDASH Financial Health
Verdict
Strong
DASH generates $1.8B in free cash flow at a 11.9% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$14.7B
Revenue Growth
TTM vs prior year
+31.0%
Gross Margin
Gross profit as a share of revenue
50.9%
Operating Margin
Operating income divided by revenue
4.9%
Net Margin
Net income divided by revenue
6.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.09
Free Cash Flow (TTM)
Cash generation after capex
$1.8B
FCF Margin
FCF as share of revenue — the primary cash quality signal
11.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
7.9%
ROA
Return on assets, trailing twelve months
5.0%
Cash & Equivalents
Liquid assets on the balance sheet
$4.4B
Net Cash
Cash exceeds total debt — no net leverage
$627M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
9.6%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
436M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageDASH Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Finance & Corporate Risks
DoorDash disclosed 69 risk factors in its most recent earnings report, with the most risks concentrated in the 'Finance & Corporate' category.
High Risk
Competitive Positioning
Despite a 56% market share, DoorDash faces intense competition in the food delivery sector, which could pressure margins and growth.
Medium
Consumer Cyclical Exposure
As a consumer cyclical company, DoorDash's performance is sensitive to economic downturns and shifts in discretionary spending.
Medium
Revenue Growth Uncertainty
Analysts highlight concerns about DoorDash's ability to sustain its revenue growth trends amid market saturation and regulatory challenges.
Lower
Operational Dependencies
DoorDash relies on partnerships with local stores and restaurants, making it vulnerable to disruptions in these relationships.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why DASH Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Dominant U.S. market share
DoorDash holds a 67% U.S. market share, solidifying its leadership in the food delivery space.
Suburban expansion
The company is expanding into suburban areas, broadening its customer base and delivery network.
Merchant-first approach
DoorDash's focus on prioritizing merchant relationships enhances platform loyalty and ecosystem strength.
Growth into groceries
DoorDash is diversifying its offerings by expanding into grocery delivery, tapping into a larger market.
International market expansion
The company is growing its presence in international markets, driving long-term revenue potential.
Strong platform ecosystem
DoorDash's integrated platform supports multiple verticals, creating a seamless user experience and stickiness.
Non-food verticals expansion
The company is expanding beyond food delivery into retail essentials and beauty products, increasing addressable market.
Partnerships and branding
Strategic partnerships, like with Overture, enhance brand visibility and offer additional revenue streams.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
DASH Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$173.46
52W Range Position
21%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$143.30
+21.0% from the low
52-Week High
$285.50
-39.2% from the high
1 Month
+6.63%
3 Month
+5.13%
YTD
-21.1%
1 Year
-21.4%
3Y CAGR
+33.4%
5Y CAGR
+0.7%
10Y CAGR
-0.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
DASH vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
68.3x
vs 23.4x median
+192% above peer median
Revenue Growth
+17.2%
vs +11.4% median
+50% above peer median
Net Margin
6.3%
vs 12.6% median
-50% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
DAS DASH DoorDash, Inc. | $75.6B | 68.3x | +17.2% | 6.3% | Buy | +45.5% |
UBE UBER Uber Technologies, Inc. | $148.4B | 21.6x | +12.6% | 15.9% | Buy | +42.3% |
LYF LYFT Lyft, Inc. | $5.4B | 23.4x | +14.9% | 43.8% | Hold | +25.5% |
CAR CART Instacart (Maplebear Inc.) | $10.5B | 18.2x | +10.1% | 12.6% | Buy | +18.0% |
AMZ AMZN Amazon.com, Inc. | $2.63T | 27.8x | +11.4% | 12.2% | Buy | +25.9% |
WMT WMT Walmart Inc. | $934.0B | 40.3x | +5.0% | 3.2% | Buy | +19.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FAQ
7 questionsDASH Investor Questions
Common questions answered from live analyst data and company financials.
01Is DoorDash, Inc. (DASH) stock a buy or sell in 2026?
DoorDash, Inc. (DASH) is rated Buy by Wall Street analysts as of 2026. Of 38 analysts covering the stock, 29 rate it Buy or Strong Buy, 9 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $252, implying +45.5% from the current price of $173. The bear case scenario is $84 and the bull case is $176.
02What is the DASH stock price target for 2026?
The Wall Street consensus price target for DASH is $252 based on 38 analyst estimates. The high-end target is $350 (+101.8% from today), and the low-end target is $190 (+9.5%). The base case model target is $134.
03Is DoorDash, Inc. (DASH) stock overvalued in 2026?
DASH trades at 68.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for DoorDash, Inc. (DASH) stock in 2026?
The primary risks for DASH in 2026 are: (1) Finance & Corporate Risks — DoorDash disclosed 69 risk factors in its most recent earnings report, with the most risks concentrated in the 'Finance & Corporate' category. (2) Competitive Positioning — Despite a 56% market share, DoorDash faces intense competition in the food delivery sector, which could pressure margins and growth. (3) Consumer Cyclical Exposure — As a consumer cyclical company, DoorDash's performance is sensitive to economic downturns and shifts in discretionary spending. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is DoorDash, Inc.'s revenue and earnings forecast?
Analyst consensus estimates DASH will report consensus revenue of $17.3B (+17.2% year-over-year) and EPS of $2.30 (+10.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $20.3B in revenue.
06When does DoorDash, Inc. (DASH) report its next earnings?
DoorDash, Inc. is expected to report its next earnings on approximately 2026-08-05. Consensus expects EPS of $0.49 and revenue of $4.3B. Over recent quarters, DASH has beaten EPS estimates 42% of the time.
07How much free cash flow does DoorDash, Inc. generate?
DoorDash, Inc. (DASH) generated $1.8B in free cash flow over the trailing twelve months — a free cash flow margin of 11.9%. DASH returns capital to shareholders through and share repurchases ($0 TTM).