DoorDash, Inc. — Earnings Quality Grade D
DASH · Consumer Cyclical
Significant concerns
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 29 days, change +5 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 27.9%, CFFO 14.0%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 83.3% is >2x revenue growth 27.9%
SG&A/Gross Profit = 58.4%. Normal
Gross margin 50.9%, change +2.6pp. Stable
Cash Flow Quality
CFFO/NI = 2.60. Profits backed by cash
FCF $1.8B, FCF/NI = 1.95
Accruals ratio = -7.6%. Low accruals
Cash $5.5B covers debt $3.3B
Balance Sheet Health
Goodwill+Intangibles $7.8B = 78% of equity. Over 50%
Debt/EBITDA = 2.2x. Healthy
Other assets 41.8% vs revenue 27.9%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 175% YoY
Manipulation Score
M-Score = -2.35 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-08