DoorDash, Inc. Class A Common Stock (DASH)

Financial leverage ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Total assets	US$ in thousands	12,845,000	10,839,000	9,789,000	6,809,000	6,353,000
Total stockholders’ equity	US$ in thousands	7,803,000	6,806,000	6,754,000	4,667,000	4,700,000
Financial leverage ratio		1.65	1.59	1.45	1.46	1.35

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $12,845,000K ÷ $7,803,000K
= 1.65

The financial leverage ratio of DoorDash, Inc. Class A Common Stock has demonstrated a consistent upward trend over the period from December 31, 2020, to December 31, 2024. Specifically, the ratio was 1.35 at the end of 2020, increased to 1.46 by the end of 2021, and then slightly declined to 1.45 at the close of 2022. Subsequently, it resumed its upward trajectory, reaching 1.59 at the end of 2023 and further rising to 1.65 by the close of 2024.

This progression indicates a gradual escalation in the company's use of leverage over the observed period. The initial increase from 2020 to 2021 suggests an enhanced reliance on debt or other forms of leverage relative to equity, which may have been driven by strategic investments or operational growth initiatives. The stabilization at 1.45 in 2022 implies a period of relative balance, while the subsequent consistent increases suggest a deliberate move toward higher leverage levels.

Overall, the trend reflects a moderate but steady increase in financial leverage, which suggests that the company has been leveraging more debt over time to finance its operations or expansion efforts. The rising leverage ratios should be monitored in conjunction with the company's overall financial health, as higher leverage can amplify returns but also increases financial risk.