Market Pulse44Neutral

DoorDash, Inc.Opportunity Rank #249(DASH) Intrinsic Value & DCF Analysis (2026)

Current Price

$172.08

Last updated: Jun 23, 2026

Price vs Intrinsic Value

$172.08
Price
$124.74
Intrinsic Value
Overvalued by 28%MOS: $99.79

Fundamental Score

51/100
Neutral

Weighted across 6 signals

Narrative Score

52/100
Weak

No change vs previous

Trend Score

44/100
Weak

As of 2026-06-22

The intrinsic value of DoorDash, Inc. (DASH) is estimated at $124.74 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $172.08, the stock appears overvalued relative to its projected cash flow fundamentals. This estimate assumes a 9.17% long-term growth rate and an 11.15% discount rate, reflecting expected future free cash flow and cost of capital.

The intrinsic value of DoorDash, Inc. (DASH) is estimated at $124.74 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $172.08, the stock appears overvalued relative to its projected cash flow fundamentals. This estimate assumes a 9.17% long-term growth rate and an 11.15% discount rate, reflecting expected future free cash flow and cost of capital.

Valuation Details

$124.74
▼ -27.51% downside
20% margin of safety: $99.79
Years: 10Growth Rate: 9.17%
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Capital Efficiency

Average Quarterly ROIC
3.14%
Cost of Capital (estimated)9%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

51/100
NeutralWeighted across 6 signals
DCF Discount
27.5% premium to price
4
FCF Yield
4.0% trailing FCF yield
51
ROIC vs WACC
ROIC 3.1% vs WACC 9.0% (0.3x)
17
Net Debt / FCF
Net cash position
100
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
49.1% 5Y FCF CAGR
100
Strengths: Net Debt / FCF, Buybacks. Concerns: DCF Discount, ROIC vs WACC.

Narrative Details

52/100
Weak
Vs 6-Month Baseline:Low (3rd pct)Weighted across 6 recent drivers
Trend: StableConfidence: 89%Updated: 0m ago
Sources: 91 (76 News · 15 Analyst)
Drivers(last 30 days)
68 news sentiment+0.2
Upgrade headlines+0.0
3 regulatory scrutiny+0.0
2 earnings beat+0.0
Downgrade headlines+0.0
Earnings miss+0.0

Trend Details

44/100
WeakAs of 2026-06-22308 daily bars used
6M Relative Strength vs SPY-33.1%
Price vs 21 EMA+6.2%
Distance from 52-Week High-38.9%
Price vs 21 EMA82 · +6.2%
Price vs 50 EMA73 · +5.1%
21 EMA vs 50 EMA42 · -1.0%
3M RS vs SPY31 · -4.9%
6M RS vs SPY2 · -33.1%
Distance from 52W High22 · -38.9%

Investment Coach

Updating... 12d ago
AVOIDConfidence: 54%
Thesis
DoorDash shares appear fully priced with a current price above the base-case fair value, and returns are trailing the estimated cost of capital despite constructive fundamentals and a strong balance sheet. The company shows a neutral fundamental score but a deteriorating narrative trend, suggesting limited near-term upside.
Key Risk
The key risk is that the company’s return on invested capital remains below its weighted average cost of capital, indicating potential value destruction.
Signals To Watch
  • Price moving to at least a mid-teens discount to fair value
  • Sustained improvement in ROIC versus WACC spread
  • Meaningful shifts in narrative trend and fundamental score direction
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 27.70%5 Year CAGR: 26.66%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018
$3,028$2,688$2,462$1,997$713$929$411-$375-$143

How Intrinziq Estimates Fair Value

Intrinziq estimates DoorDash, Inc.'s intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

DoorDash, Inc.Communication Services

DoorDash, Inc. operates a comprehensive logistics platform globally and within the United States, linking merchants, consumers, and delivery personnel ('dashers'). Through its primary marketplaces, DoorDash and Wolt, the company provides essential services designed to help merchants overcome critical challenges, including customer acquisition, delivery logistics, data insights and analytics, merchandising support, payment processing, and customer assistance. Additionally, DoorDash offers subscription-based products like DashPass and Wolt+, alongside white-label delivery fulfillment services under DoorDash Drive and Wolt Drive. Its portfolio also includes DoorDash Storefront, which enables merchants to provide on-demand e-commerce access to their customers, and Bbot, a solution offering digital ordering and payment processing for both in-store and online channels. Founded in 2013 as Palo Alto Delivery Inc., the company officially adopted the name DoorDash, Inc. in 2015. It is headquartered in San Francisco, California.