DoorDash, Inc. Class A Common Stock (DASH)
Pretax margin
| 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 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 372,000 | 156,000 | -159,000 | -383,000 | -407,000 | -534,000 | -1,054,000 | -1,286,000 | -1,377,000 | -1,399,000 | -893,000 | -693,000 | -521,000 | -463,000 | -621,000 | -562,000 | -439,000 | -458,000 | -281,000 |
| Revenue (ttm) | US$ in thousands | 11,241,000 | 10,722,000 | 10,152,000 | 9,610,000 | 9,113,000 | 8,635,000 | 8,150,000 | 7,687,000 | 7,162,000 | 6,583,000 | 6,065,000 | 5,639,000 | 5,267,000 | 4,888,000 | 4,558,000 | 4,162,000 | 3,601,000 | 2,886,000 | 2,214,000 |
| Pretax margin | 3.31% | 1.45% | -1.57% | -3.99% | -4.47% | -6.18% | -12.93% | -16.73% | -19.23% | -21.25% | -14.72% | -12.29% | -9.89% | -9.47% | -13.62% | -13.50% | -12.19% | -15.87% | -12.69% |
March 31, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $372,000K ÷ $11,241,000K
= 3.31%
The pretax margin of DoorDash, Inc. Class A Common Stock has demonstrated a notable trajectory over the analyzed period. Initially, the company reported negative pretax margins in the periods ending September 30, 2020, through March 31, 2021, with values ranging from -12.69% to -12.19%. During this period, the company was operating at a loss before taxes, reflecting substantial expenses relative to revenue.
From December 31, 2021, onward, there was a general pattern of gradual improvement in pretax margins. The negative margins decreased from -21.25% at the end of 2022 to -16.73% by June 30, 2023, and further to -12.93% by September 30, 2023. This indicates a trend toward narrowing losses prior to taxes, possibly implying improved operational efficiencies or increased revenues.
A significant positive shift occurred starting with the year-end 2024, where the pretax margin moved from a negative -6.18% as of December 31, 2024, to positive territory at 1.45% by the end of the first quarter of 2025. Projections for subsequent periods suggest continued profitability, with margins reaching 3.31% as of March 31, 2025.
Overall, the data indicates that DoorDash has been making consistent progress toward profitability, transitioning from persistent losses to potential profit generation at the pretax level, reflecting improvements in cost management, revenue growth, or both.
Peer comparison
Mar 31, 2025