DoorDash (DASH) in Contrarius Global Equity Fund Q1 2023

Leading U.S. Food Delivery with Strategic Expansion

Jul 01, 2025

Summary

Dominates the U.S. food delivery market with a 60% share.
Maintains positive free cash flow, even during expansion.
Expanding into new markets and delivery segments.
Shares have fallen 75% from peak, presenting value opportunities.
Strong balance sheet with $3.9 billion in net cash.

In the Contrarius Global Equity Fund's Q1 2023 letter, DoorDash (DASH, Financial) was highlighted as a key holding due to its dominant position in the U.S. food delivery market. The fund appreciates DoorDash's ability to maintain positive free cash flow while expanding into new geographic and service markets, such as convenience and grocery deliveries.

"DoorDash is leveraging its market leadership to enter new segments, and despite a significant drop in share price, it offers substantial value based on conservative free cash flow estimates." — Contrarius Global Equity Fund, Q1 2023 Fund Letter

Read full letter at gurufocus Contrarius Global Equity Fund 2023 Q1 page.

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