DoorDash management check
DASH · Consumer Discretionary · Specialized Consumer Services · CEO Tony Xu
Filings as of
3 good · 2 to watch · 2 flagged, across the seven questions below.
- Flag
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $159, against $258 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.73 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.05% of net income$432k of reported pay in fiscal 2025, against $935.0m of net income.
- Watch
Do they own the stock?
CEO stake ≈ 9.7 years of payThe CEO holds 18,167 shares, directly or through trusts (unvested awards not counted): about 9.7 years of pay. 10 insiders sold $133.3m in the last six months and none bought. 120 of 134 sales ran on pre-arranged 10b5-1 plans.
- Flag
Are owners being diluted?
Share count growingDiluted shares changed +5.8% a year over the last three fiscal years. Stock-based pay was 7.7% of revenue in the latest year.
- Good
Is leadership stable?
3 leadership filings in 3 yearsCEO in the pay table: Tony Xu. 3 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Watch
Are the books clean?
An annual report was amendedNo restatements, auditor changes or late filings since 2022. 1 amended annual report.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Discretionary.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 2 | 70 | |
| Pay for performance | 86 | 79 | |
| CEO cost | 100 | 44 | |
| Skin in the game | 64 | 36 | |
| Dilution | 0 | 74 | |
| Stable leadership | 100 | 80 | |
| Clean books | 70 | 100 |
Closest peers
Nearest in rank in Consumer Discretionary, by management score. DoorDash is 35th of 47 in its sector.
- 292ROSTRoss Stores62
- 303DRIDarden Restaurants61
- 306BBYBest Buy61
- 311TSCOTractor Supply60
- 315DASHDoorDash60
- 324DPZDomino's60
Pay versus performance
From the proxy statement filed April 20, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Tony Xu | $432k | $238.5m | $10.2m | $159 | $258 | $935.0m |
| 2024 | — | $319k | $313.8m | $8.1m | $118 | $208 | $123.0m |
| 2023 | — | $316k | $244.0m | $10.8m | $69 | $152 | −$558.0m |
| 2022 | — | $300k | −$686.4m | $10.5m | $34 | $97 | −$1.4bn |
| 2021 | — | $300k | −$35.8m | $8.5m | $104 | $135 | −$468.0m |
The board says pay is tied most to Year-End Stock Price.
Insiders and the CEO's stake
Tony Xu (CHIEF EXECUTIVE OFFICER) held 18,167 shares directly after their latest Form 4 on Sep 1, 2026, roughly $4.2m at that filing's price.
10 insiders sold $133.3m in the last six months and none bought. 120 of 134 sales ran on pre-arranged 10b5-1 plans.
- SoldStanley TangDirector$58.8mOct 2, 2026
- SoldPrabir AdarkarPRESIDENT AND COO$24.2mSep 28, 2026
- SoldRavi InukondaCHIEF FINANCIAL OFFICER$15.0mOct 12, 2026
- SoldAndy FangDirector$13.9mOct 1, 2026
Leadership and governance on file
- May 6, 2026Annual report amended10-K/A
- Jan 20, 2026Leadership change8-K 5.02
- Apr 19, 2024Leadership change8-K 5.02
- Feb 1, 2024Leadership change8-K 5.02
- Jul 13, 2023Leadership change8-K 5.02
- May 11, 2023Leadership change8-K 5.02
- Apr 28, 2023Leadership change8-K 5.02
- Feb 16, 2023Leadership change8-K 5.02
- Jul 14, 2022Leadership change8-K 5.02
Latest shareholder vote results: Aug 11, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $1.4bn returned to owners in buybacks and dividends, and $4.6bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.9bn | $6.6bn | $8.6bn | $10.7bn | $13.7bn |
| Net income | −$468.0m | −$1.4bn | −$558.0m | $123.0m | $935.0m |
| Stock-based pay | $486.0m | $889.0m | $1.1bn | $1.1bn | $1.1bn |
| Buybacks | $0 | $400.0m | $750.0m | $224.0m | $0 |
| Dividends | — | — | — | — | — |
| Diluted shares | 337m | 371m | 393m | 430m | 440m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.