Dingdong (Cayman) Ltd
DDL NYSE Retail-Catalog & Mail-Order Houses Financials FY2019โFY2025
Revenue
Total sales reported in the income statement.
$3.4B
5.7%
vs prior year
Operating margin
Operating income as a share of revenue.
0.5%
0.4ย pts
Net income
Profit after all expenses, interest and tax.
$32.2M
23.8%
Free cash flow
Cash from operations minus capital spending.
$49.8M
56.9%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
What Dingdong (Cayman) Ltd does
No business description yet.
- Legal name
- Dingdong (Cayman) Ltd
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 24, 2026
- Accession ยท CIK
- 0001193125-26-174971
0001854545
Revenue and margins
Dingdong (Cayman) Ltd had $3.4B of revenue in fiscal 2025, up 5.7% on the year before.
FY19
Revenue $562M
FY20
Revenue $1.6B
FY21
Revenue $3.1B
FY22
Revenue $3.6B
FY23
Revenue $2.8B
FY24
Revenue $3.2B
FY25
Revenue $3.4B
FY19
Gross โ
Operating โ44.9%
Net โ48.3%
FCF โ28.1%
FY20
Gross โ
Operating โ27.9%
Net โ28.0%
FCF โ20.3%
FY21
Gross โ
Operating โ31.7%
Net โ32.0%
FCF โ30.4%
FY22
Gross โ
Operating โ3.3%
Net โ3.3%
FCF โ0.2%
FY23
Gross โ
Operating โ0.7%
Net โ0.5%
FCF โ1.6%
FY24
Gross โ
Operating 0.9%
Net 1.3%
FCF 3.6%
FY25
Gross โ
Operating 0.5%
Net 1.0%
FCF 1.5%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income โ$271M
FY20
Net income โ$460M
FY21
Net income โ$997M
FY22
Net income โ$120M
FY23
Net income โ$12.9M
FY24
Net income $42.3M
FY25
Net income $32.2M
FY19
Diluted EPS โ$14.09
FY20
Diluted EPS โ$23.87
FY21
Diluted EPS โ
FY22
Diluted EPS โ
FY23
Diluted EPS โ
FY24
Diluted EPS โ
FY25
Diluted EPS โ
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital โ
Return on equity โ
Return on assets โ
FY20
Return on capital โ
Return on equity โ
Return on assets โ61.1%
FY21
Return on capital โ
Return on equity โ
Return on assets โ89.2%
FY22
Return on capital โ
Return on equity โ150.2%
Return on assets โ8.4%
FY23
Return on capital โ
Return on equity โ26.1%
Return on assets โ1.1%
FY24
Return on capital โ
Return on equity 51.8%
Return on assets 4.1%
FY25
Return on capital โ
Return on equity 25.0%
Return on assets 3.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $49.8M in fiscal 2025, 1.5% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow โ$158M
FY20
Free cash flow โ$334M
FY21
Free cash flow โ$949M
FY22
Free cash flow โ$5.9M
FY23
Free cash flow โ$44.9M
FY24
Free cash flow $115M
FY25
Free cash flow $49.8M
FY19
Cash from operations โ$140M
Capital spending $18.1M
FY20
Cash from operations โ$298M
Capital spending $36.0M
FY21
Cash from operations โ$879M
Capital spending $70.0M
FY22
Cash from operations $13.0M
Capital spending $18.8M
FY23
Cash from operations โ$33.1M
Capital spending $11.8M
FY24
Cash from operations $129M
Capital spending $13.6M
FY25
Cash from operations $74.5M
Capital spending $24.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
Dingdong (Cayman) Ltd returned โ to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY19
Diluted shares 0.02B
FY20
Diluted shares 0.02B
FY21
Diluted shares โ
FY22
Diluted shares โ
FY23
Diluted shares โ
FY24
Diluted shares โ
FY25
Diluted shares โ
Balance sheet
Cash, debt and the ratios that show how comfortably Dingdong (Cayman) Ltd can carry it.
FY19
Cash $135M
Debt โ
FY20
Cash $364M
Debt $211M
FY21
Cash $823M
Debt $500M
FY22
Cash $941M
Debt $614M
FY23
Cash $747M
Debt $464M
FY24
Cash $610M
Debt $220M
FY25
Cash $568M
Debt $124M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $823M | $941M | $747M | $610M | $568M |
| Debt incl. finance leases | $500M | $614M | $464M | $220M | $124M |
| Net debt / EBITDA | โ | โ | โ80.5x | โ8.5x | โ13.9x |
| Debt / equity | 4.4x | 13.7x | 8.6x | 2.0x | 0.8x |
| Interest coverage | โ74.8x | โ6.0x | โ1.3x | 4.5x | 7.8x |
| Current ratio | 0.9x | 0.9x | 0.9x | 1.0x | 1.1x |
| Quick ratio | 0.8x | 0.8x | 0.9x | 0.9x | 0.9x |
| Total assets | $1.5B | $1.4B | $1.1B | $975M | $1.0B |
| Total liabilities | $1.4B | $1.3B | $1.0B | $849M | $834M |
| Shareholders' equity | $115M | $45.0M | $53.8M | $109M | $149M |
| Net debt (โ = net cash) | โ$323M | โ$327M | โ$283M | โ$390M | โ$444M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 4 | 2 / 7 | 5 / 7 | 3 / 7 | 7 / 7 | 6 / 7 |
| Accruals ratio | โ | โ21.6% | โ10.6% | โ9.3% | 1.7% | โ8.4% | โ4.3% |
| Altman Z'' | โ | โ11.46 | โ9.38 | โ5.77 | โ6.15 | โ5.70 | โ5.58 |
7 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $562M | $1.6B | $3.1B | $3.6B | $2.8B | $3.2B | $3.4B |
| Operating income | โ$252M | โ$458M | โ$987M | โ$119M | โ$18.4M | $29.8M | $18.3M |
| Interest expense | $8.4M | $5.6M | $13.2M | $19.9M | $14.0M | $6.6M | $2.3M |
| Pretax income | โ$271M | โ$460M | โ$995M | โ$119M | โ$10.1M | $44.5M | $33.5M |
| Income tax | $0.0M | $0.0M | $1.5M | $1.0M | $2.7M | $2.2M | $1.3M |
| Net income | โ$271M | โ$460M | โ$997M | โ$120M | โ$12.9M | $42.3M | $32.2M |
| Net income to common | โ$289M | โ$507M | โ$1.0B | โ$121M | โ$14.1M | $41.0M | $30.8M |
| Diluted EPS | โ$14.09 | โ$23.87 | โ | โ | โ | โ | โ |
| Diluted shares | 0.02B | 0.02B | โ | โ | โ | โ | โ |
| Cash flow | |||||||
| Cash from operations | โ$140M | โ$298M | โ$879M | $13.0M | โ$33.1M | $129M | $74.5M |
| Capital expenditure | $18.1M | $36.0M | $70.0M | $18.8M | $11.8M | $13.6M | $24.7M |
| Free cash flow | โ$158M | โ$334M | โ$949M | โ$5.9M | โ$44.9M | $115M | $49.8M |
| Depreciation and amortization | $5.0M | $16.7M | $33.0M | $30.3M | $21.9M | $15.9M | $13.6M |
| Stock-based compensation | $0.3M | $22.2M | $48.9M | $35.0M | $19.3M | $16.5M | $10.9M |
| Balance sheet | |||||||
| Cash and short-term investments | $135M | $364M | $823M | $941M | $747M | $610M | $568M |
| Total debt | โ | $211M | $500M | $614M | $464M | $220M | $124M |
| Current assets | โ | $463M | $1.0B | $1.1B | $866M | $735M | $720M |
| Current liabilities | โ | $725M | $1.2B | $1.2B | $916M | $722M | $685M |
| Inventory | โ | $59.1M | $84.6M | $87.7M | $66.4M | $75.8M | $81.5M |
| Property and equipment, net | โ | $41.7M | $74.4M | $45.7M | $26.6M | $24.2M | $33.2M |
| Total assets | โ | $753M | $1.5B | $1.4B | $1.1B | $975M | $1.0B |
| Total liabilities | โ | $867M | $1.4B | $1.3B | $1.0B | $849M | $834M |
| Shareholders' equity | โ$358M | โ$905M | $115M | $45.0M | $53.8M | $109M | $149M |
| Margins | |||||||
| Operating margin | โ44.9% | โ27.9% | โ31.7% | โ3.3% | โ0.7% | 0.9% | 0.5% |
| EBITDA margin | โ44.0% | โ26.9% | โ30.6% | โ2.5% | 0.1% | 1.4% | 0.9% |
| Net margin | โ48.3% | โ28.0% | โ32.0% | โ3.3% | โ0.5% | 1.3% | 1.0% |
| FCF margin | โ28.1% | โ20.3% | โ30.4% | โ0.2% | โ1.6% | 3.6% | 1.5% |
| Returns | |||||||
| Return on capital employed | โ | โ1,614.3% | โ302.8% | โ70.0% | โ10.9% | 11.8% | 5.8% |
| Return on equity | โ | โ | โ | โ150.2% | โ26.1% | 51.8% | 25.0% |
| Return on assets | โ | โ61.1% | โ89.2% | โ8.4% | โ1.1% | 4.1% | 3.3% |
| Return on tangible equity | โ | โ | โ908.7% | โ269.0% | โ26.2% | 37.5% | 20.7% |
| Growth | |||||||
| Revenue growth | โ | 192.5% | 90.0% | 15.3% | โ21.6% | 13.7% | 5.7% |
| Net income growth | โ | โ | โ | โ | โ | โ | โ23.8% |
| FCF growth | โ | โ | โ | โ | โ | โ | โ56.9% |
| Share count change | โ | 3.7% | โ | โ | โ | โ | โ |
| Financial health | |||||||
| Net debt / EBITDA | โ | โ | โ | โ | โ80.5x | โ8.5x | โ13.9x |
| Debt / equity | โ | โ | 4.4x | 13.7x | 8.6x | 2.0x | 0.8x |
| Interest coverage | โ30.0x | โ81.5x | โ74.8x | โ6.0x | โ1.3x | 4.5x | 7.8x |
| Current ratio | โ | 0.6x | 0.9x | 0.9x | 0.9x | 1.0x | 1.1x |
| Quick ratio | โ | 0.6x | 0.8x | 0.8x | 0.9x | 0.9x | 0.9x |
| Capital allocation | |||||||
| Capex / revenue | 3.2% | 2.2% | 2.2% | 0.5% | 0.4% | 0.4% | 0.7% |
| Stock comp / revenue | 0.1% | 1.4% | 1.6% | 1.0% | 0.7% | 0.5% | 0.3% |
| Quality scores | |||||||
| Piotroski F-score | โ | โ | 2.0 | 5.0 | 3.0 | 7.0 | 6.0 |
| Altman Z'' | โ | โ11.5 | โ9.4 | โ5.8 | โ6.2 | โ5.7 | โ5.6 |
| Accruals ratio | โ | โ21.6% | โ10.6% | โ9.3% | 1.7% | โ8.4% | โ4.3% |
Source: SEC EDGAR XBRL filings (CIK 0001854545). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 3 ordinary shares). For information only โ not investment advice. Check the original filings before relying on any figure.