---
canonical_url: https://www.stockexpertai.com/earnings/dash
last_updated: 2026-05-05T20:27:50.457Z
---

# DoorDash, Inc. (DASH) Q4 FY2026 Earnings Preview

> **[stale-preview-note]** Note: this preview was published before the 2026-05-06 earnings report. Results have since been released — verify against the latest filings.

> This content was automatically generated with FMP live data + Q4 FY2025 earnings call transcript. Generated: 2026-05-05T20:27:50.154Z. Educational tool, not investment advice.

---

## Quick Summary

| Field | Value | Source |
|---|---|---|
| Price | $166.14 (▼ -3.73%) | fmp:quote |
| Market Cap | $72.4B | fmp:profile |
| 52w range | $143.30 – $285.50 | fmp:quote |
| Earnings | Wed 6 May | fmp:earnings-history |
| EPS estimate | $0.41 (-7% YoY) | fmp:earnings-estimate |
| Revenue estimate | $4.2B | fmp:earnings-estimate |
| Beat streak | 0/4 | fmp:earnings-history |
| Rating | B- (overall 2/5) | fmp:ratings |
| Analyst median target | $265 (+59.5% upside) | fmp:price-target-consensus |
| MoonshotScore | 63/100 | derived |
| Council | 3/6 bullish | derived |
| Munger verdict | Undervalued | derived |

## DoorDash, Inc. — Q4 FY2026 Expectations

Q4 consensus: revenue <strong data-source="fmp:earnings-estimate" data-field="estimates.next.revenueAvgLabel">$4.2B</strong><sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.revenueAvg" title="FMP est">[FMP est]</sup>, EPS <strong data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">$0.41</strong><sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg" title="FMP est">[FMP est]</sup>. 0 consecutive quarters of beat<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.beatStreakCount" title="FMP earnings">[FMP earnings]</sup>.

## Quick Take

**Score:** B- · **Stance:** BUY · **Council:** 3/6 · **Moonshot:** 63

= MoonshotScore <strong>63</strong><sup class="cite" data-source="derived" data-field="moonshot.score" title="9-pillar formula">[9-pillar formula]</sup> + Council <strong>3/6</strong><sup class="cite" data-source="derived" data-field="council.bullishCount" title="6-lens rule">[6-lens rule]</sup>. Form 4: 0 transactions<sup class="cite" data-source="fmp:insider-trading" data-field="insider.txCount" title="FMP Form 4">[FMP Form 4]</sup>.

## Watchlist (6 metrics)

### 1. Fy26 Ebitda Margin

DoorDash expects the full year EBITDA margin for '26 to be up slightly compared to 2025, excluding ROO and ROO to produce about $200 million of EBITDA.

> "The way I think about it is 2026 EBITDA margin is going to be up slightly compared to 2025, excluding ROO and ROO to produce about $200 million of EBITDA, like we said."
> — Ravi Inukonda, CFO, Risk Indicator · Q4 FY2025

### 2. Tech Stack Investment

DoorDash is happy with the progress in investing in its global tech stack, with the majority of that spend expected in '26, though some will be in '27.

> "Look, we're happy with the progress. We're making good progress there. There are components of that spend that are redundant, especially as we take on the cost of running both tech stacks in parallel. Majority of that should be in '26, some of that will be in '27, which will come off, but that's a smaller component of the overall spend."
> — Ravi Inukonda, CFO, Investor Focus · Q4 FY2025

### 3. Europe Growth

DoorDash feels great about its position in Europe, with growth from the Deliveroo acquisition exceeding expectations.

> "Overall, we feel really great about our position in Europe. We're the leading player in many of the countries in that continent. And we're off to a really great start with our Deliveroo acquisition."
> — Tony Xu, CEO, Investor Focus · Q4 FY2025

### 4. New Verticals Growth

DoorDash's new verticals business, specifically retail and grocery, had a really strong quarter and year, being the fastest growing in the U.S. as it relates to third-party peers.

> "Look, I mean, new verticals had a really strong quarter as well as the year. We are the fastest growing in the U.S. as it relates to third-party peers."
> — Ravi Inukonda, CFO, Investor Focus · Q4 FY2025

### 5. Deliveroo Growth Profit

With respect to Deliveroo, DoorDash is growing much faster at the same profit contribution that was expected before the acquisition.

> "With respect to Deliveroo, we are growing much faster at the same profit contribution that we expected before the acquisition."
> — Tony Xu, CEO, Investor Focus · Q4 FY2025

### 6. Autonomy Merchant Services Investment

DoorDash is continuing to invest in both autonomy as well as merchant services, and aims to invest more if they continue to make more progress from a customer benefit perspective.

> "The other two areas are -- both autonomy as well as merchant services. We are expanding both of those areas, we are investing. We like what we are seeing there. And in fact, I mean, if we continue to make more progress from a customer benefit perspective, our goal is to continue to invest more."
> — Ravi Inukonda, CFO, Investor Focus · Q4 FY2025


## MoonshotScore Pillars

| Pillar | Score | Level | Evidence |
|---|---|---|---|
| Revenue Growth | 10.0 | strong | Q4 vs Q1: fast growth (+30.4%) |
| Gross Margin | 5.0 | medium | Q4: high margin (51.1%) |
| Operating Leverage | 0.0 | weak | op margin weak (3.7%, under pressure) |
| Cash Runway | 10.0 | strong | FCF strong ($0.3B FCF, covers CapEx) |
| R&D Intensity | 7.0 | strong | balanced R&D investment (10.4%) |
| Price Momentum | 4.0 | medium | RSI 45.9 balanced, 50d below |
| News Sentiment | 8.0 | strong | strong buy consensus (78%) |

**Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula.

## Council (7-Lens)

| Name | Stance | Context |
|---|---|---|
| Ray Dalio | bull | macro · target upside +59.5% |
| Ken Griffin | bear | flow · 50d MA below |
| Jim Simons | neutral | quant · RSI 46 |
| Klarman | bull | value · target upside +59.5% |
| Buffett | neutral | quality · ROE score 3/5 |
| Munger | bull | valuation · target upside +59.5% |

**Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr.

## Munger Lens

- **Verdict:** Undervalued
- **Financial Health:** Weak
- **Margin of Safety:** Strong
- **Interest Coverage:** Adequate
- **ROIC vs WACC:** Tight

**Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget.

## Technical Levels

- **RSI(14):** 45.9 — dengeli — yön sinyali zayıf
- **50d MA:** $167 — hisse %0.7 altında — kısa vadeli direnç
- **200d MA:** $216 — hisse %23.2 altında — uzun vadeli baskı
- **Volume (10d):** -48%

## Past Performance (4 Quarters)

| Quarter | EPS Actual | EPS Estimate | Result | Reaction |
|---|---|---|---|---|
| Q1 FY25 | $0.44 | $0.39 | BEAT | -6.9% |
| Q2 FY25 | $0.65 | $0.44 | BEAT | +5.0% |
| Q3 FY25 | $0.55 | $0.68 | MISS | -17.5% |
| Q4 FY25 | $0.48 | $0.59 | +-18.6% EPS | +1.6% |

Q4 (February 18, 2026): EPS $0.48 vs $0.59 est<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.history.0" title="FMP">[FMP]</sup>, +-18.6% beat. D+1 movement: +1.6%<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.timeline.3.reactionLabel" title="FMP D+1">[FMP D+1]</sup>. Decline despite beat — market reacted to guidance, not numbers.

## 3 Scenarios

### Scenario A · Beat
**Q4 EPS > $0.41 + CapEx discipline**

Threshold: EPS > $0.41<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est]</sup>.

Target: Break above median target $265<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.median">[FMP target]</sup>; high target $300<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.high">[FMP]</sup> upper bound.

### Scenario B · In-Line
**EPS ≈ $0.41 + CapEx < $167.0M**

Threshold: EPS ≈ $0.41<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est]</sup>, Q4 CapEx < $167.0M<sup class="cite" data-source="fmp:cashflow" data-field="cashflow.qPrev.capexLabel">[FMP]</sup>.

Target: Consolidation in the band between current $166<sup class="cite" data-source="fmp:quote" data-field="quote.price">[FMP]</sup> and median $265<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.median">[FMP]</sup>.

### Scenario C · Miss
**EPS < $0.40 or CapEx ≥ $167.0M**

Threshold: EPS < $0.40<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est×0.97]</sup>.

Target: Current $166 below SMA200 $216<sup class="cite" data-source="fmp:technical" data-field="technical.sma200">[FMP]</sup>, if rejection continues, $184<sup class="cite" data-source="derived" data-field="technical.sma200" data-formula="round(sma200*0.85)">[derived]</sup> support activates.

## Risk Notes

### Primary segment below threshold
Q4: EPS $0.48 vs $0.59 beat<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.history.0" title="FMP">[FMP]</sup>, stock +1.6% D+1<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.timeline.3.reactionLabel" title="FMP">[FMP]</sup>.

### Backlog concentration
No RPO/backlog concentration disclosed in Q4 earnings call.

### Insider trading
Form 4 data is marked in the table — this page does not generate assumptions for this stock.

| Executive | Action | Amount | Date |
|---|---|---|---|


**Net:** — (0 transactions · 0 sells · 0 buys) · Q4 FY25

### CapEx shock
Q4 CapEx $167.0M<sup class="cite" data-source="fmp:cashflow" data-field="cashflow.qPrev.capexLabel" title="FMP cashflow">[FMP cashflow]</sup>. Q4 op margin 3.7%<sup class="cite" data-source="fmp:income" data-field="income.quarters.0.operatingMargin" title="FMP op margin">[FMP op margin]</sup> — this level in Q4 is sensitive to CapEx revision risk.

## Wall Street Consensus

- **Median target:** $265 (+59.5% upside vs current $166)
- **High / Low:** $300 / $200
- **Buy / Hold / Sell:** 35 / 10 / 0
- **Analyst count:** 15 (last quarter), 126 all-time

## Additional Transcript Insights

### 1. europe_growth

**Claim:** DoorDash feels great about its position in Europe, with growth from the Deliveroo acquisition exceeding expectations.

**Evidence (transcript):** "Overall, we feel really great about our position in Europe. We're the leading player in many of the countries in that continent. And we're off to a really great start with our Deliveroo acquisition."

**Numbers:** —

### 2. deliveroo_growth_profit

**Claim:** With respect to Deliveroo, DoorDash is growing much faster at the same profit contribution that was expected before the acquisition.

**Evidence (transcript):** "With respect to Deliveroo, we are growing much faster at the same profit contribution that we expected before the acquisition."

**Numbers:** —

### 3. fy26_ebitda_margin

**Claim:** DoorDash expects the full year EBITDA margin for '26 to be up slightly compared to 2025, excluding ROO and ROO to produce about $200 million of EBITDA.

**Evidence (transcript):** "The way I think about it is 2026 EBITDA margin is going to be up slightly compared to 2025, excluding ROO and ROO to produce about $200 million of EBITDA, like we said."

**Numbers:** 2026, 2025, $200 million

### 4. tech_stack_investment

**Claim:** DoorDash is happy with the progress in investing in its global tech stack, with the majority of that spend expected in '26, though some will be in '27.

**Evidence (transcript):** "Look, we're happy with the progress. We're making good progress there. There are components of that spend that are redundant, especially as we take on the cost of running both tech stacks in parallel. Majority of that should be in '26, some of that will be in '27, which will come off, but that's a smaller component of the overall spend."

**Numbers:** '26, '27

### 5. autonomy_merchant_services_investment

**Claim:** DoorDash is continuing to invest in both autonomy as well as merchant services, and aims to invest more if they continue to make more progress from a customer benefit perspective.

**Evidence (transcript):** "The other two areas are -- both autonomy as well as merchant services. We are expanding both of those areas, we are investing. We like what we are seeing there. And in fact, I mean, if we continue to make more progress from a customer benefit perspective, our goal is to continue to invest more."

**Numbers:** —

### 6. new_verticals_growth

**Claim:** DoorDash's new verticals business, specifically retail and grocery, had a really strong quarter and year, being the fastest growing in the U.S. as it relates to third-party peers.

**Evidence (transcript):** "Look, I mean, new verticals had a really strong quarter as well as the year. We are the fastest growing in the U.S. as it relates to third-party peers."

**Numbers:** —


---

*Data source: FMP (live query, 2026-05-05), Q4 FY2025 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*