What is DoorDash, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on DoorDash, Inc.'s reported free cash flow gives $173.42 per share. The share price was $193.36 on September 25, 2026, 11% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $109.32 | -43% |
| Base | 15.0% | 9.0% | $173.42 | -10% |
| Bull | 20.0% | 8.0% | $292.78 | +51% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $221.96 | $237.09 | $255.58 | $278.70 | $308.43 |
| 8.0% | $185.50 | $195.31 | $206.91 | $220.83 | $237.84 |
| 9.0% | $158.97 | $165.68 | $173.42 | $182.45 | $193.13 |
| 10.0% | $138.86 | $143.63 | $149.04 | $155.22 | $162.35 |
| 11.0% | $123.12 | $126.62 | $130.53 | $134.92 | $139.91 |
Where the presets come from
Base: years 1 to 5 grow at DoorDash, Inc.'s revenue growth rate over the last 5 fiscal years (36.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions