What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does DoorDash (DASH) spend its free cash flow?

For TTM through Q1 2026, DoorDash generated $2.39B of operating cash flow and $1.75B of free cash flow — a free cash flow margin of 73.3% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did DoorDash (DASH) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent DoorDash's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

DoorDash (DASH) Cash Flow Waterfall

Operating CF

$2.39B

Capex

-$638M

Free Cash Flow

$1.75B

FCF Margin

+73.3%

Cash flow waterfall for DoorDash (DASH) — TTM through Q1 2026

Free cash flow: $1.75B

Cash flow breakdown for DoorDash (DASH) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$2.39B	$2.39B
Capital Expenditure	-$638M	$1.75B
Free Cash Flow	$1.75B	$1.75B
Acquisitions	-$4.15B	-$2.4B
Other Investing	$463M	-$1.94B
Share Buybacks	-$162M	-$2.1B
Net Debt Change	$2.04B	-$61M
Other Financing & FX	$338M	$277M
Net Cash Increase	$278M	$278M

Operating Cash Flow$2.39B
Capital Expenditure-$638M
Free Cash Flow$1.75B
Acquisitions-$4.15B
Other Investing$463M
Share Buybacks-$162M
Net Debt Change$2.04B
Other Financing & FX$338M
Net Cash Increase$278M

Want to see what drove the FCF change?Free Cash Flow Bridge

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Buybacks0.25% TTM

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