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Friday 6 November 2026
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DigitalOcean Holdings, Inc.
DOCN Technology Software Infrastructure
DigitalOcean Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $901.4 million, up 15.5% from fiscal 2024.
- Revenue
- +39.9%
- EPS
- −121.4%
- Free cash flow
- +85.6%
- Total debt
- −8.76%
Quarter to September 2026, against a year earlier
71.55
12.47
−14.84%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 203 | 255 | 318 | 429 | 576 | 693 | 781 | 901 | 1,103 | +23.7% | 1,179 | 1,824 | 2,724 | +44.6% | |
| Gross margin, % | — | — | 52.23 | 52.02 | 54.29 | 60.19 | 63.23 | 57.37 | 59.69 | 59.86 | 54.66 | +7.6 pt | ||||||
| EBT | — | — | (35) | (40) | (43) | (18) | (24) | 27 | 98 | 207 | 48 | n/m | ||||||
| EBT margin, % | — | — | (17.12) | (15.54) | (13.40) | (4.25) | (4.14) | 3.86 | 12.52 | 22.93 | 4.33 | +40.1 pt | ||||||
| Net income | — | 0 | (36) | (40) | (44) | (20) | (28) | 19 | 84 | 259 | 34 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 5.98 | 6.71 | 7.64 | 4.60 | 5.72 | 7.69 | 8.52 | 9.85 | 9.62 | +7.4% | |||||
| Earnings | — | — | (1.06) | (1.06) | (1.05) | (0.21) | (0.24) | 0.22 | 0.92 | 2.83 | 0.42 | n/m | ||||||
| Cash flow | — | — | 1.12 | 1.05 | 1.40 | 1.43 | 1.94 | 2.61 | 3.09 | 3.38 | 3.27 | +17.2% | ||||||
| Capex | — | — | (1.80) | (2.22) | (2.78) | (1.16) | (1.24) | (1.41) | (2.04) | (2.93) | (2.88) | +7.2% | ||||||
| Free cash flow | — | — | (0.69) | (1.17) | (1.37) | 0.26 | 0.70 | 1.20 | 1.05 | 0.45 | 0.40 | n/m | ||||||
| Book value | — | — | 0.00 | (1.90) | (1.73) | 6.20 | 0.47 | (3.48) | (2.21) | (0.31) | 12.35 | n/m | ||||||
| Shares, m | — | — | 34 | 38 | 42 | 93 | 101 | 90 | 92 | 91 | 101 | +15.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 153.43 | 36.63 | 16.88 | 170.97 | 25.9 | |||||
| P/S | — | — | 0.00 | 0.00 | 0.00 | 17.47 | 4.47 | 4.71 | 4.00 | 4.88 | 7.44 | 4.4 | ||||||
| P/B | — | — | 0.00 | 0.00 | 0.00 | 12.95 | 54.14 | 0.00 | 0.00 | 0.00 | 5.79 | 8.4 | ||||||
| EV/Sales | — | — | 0.00 | 0.00 | 0.00 | 16.89 | 5.62 | 6.36 | 5.45 | 6.15 | 7.75 | 5.1 | ||||||
| EV/FCF | — | — | (23.61) | (23.61) | (23.61) | 373.46 | 45.94 | 42.82 | 46.60 | 134.14 | 187.38 | 71.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 38 | 40 | 58 | 133 | 195 | 235 | 283 | 310 | 375 | +35.0% | |||||
| Capex | — | — | (61) | (84) | (116) | (109) | (125) | (127) | (186) | (268) | (330) | +23.5% | ||||||
| Free cash flow | — | — | (23) | (45) | (57) | 25 | 71 | 108 | 96 | 41 | 46 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | (13) | (12) | 63 | 1,712 | 780 | 310 | 321 | (192) | 144 | +47.0% | |||||
| Net debt | — | — | 106 | 158 | 159 | (251) | 664 | 1,066 | 1,058 | 1,140 | 336 | +40.4% | ||||||
| Shareholders’ equity | — | — | — | (72) | (72) | 578 | 48 | (314) | (203) | (29) | 1,416 | (14.3%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (26.71) | (11.89) | (1.54) | (1.42) | 1.18 | 5.45 | 14.91 | 1.25 | +14.9 pt | |||||
| ROIC | — | — | (16.09) | (21.77) | (11.31) | (2.13) | (2.26) | 0.99 | 6.65 | 8.83 | 4.91 | +24.9 pt | ||||||
| ROE | — | — | 55.81 | 62.48 | 60.35 | (7.71) | (8.89) | (14.59) | (32.71) | (223.84) | 5.09 | (279.6) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 581 | 786 | 1,204 | 1,156 | 1,210 | 1,462 | — | +20.3% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.55 | 0.55 | 0.48 | 0.60 | 0.65 | 0.62 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
DigitalOcean Holdings, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| AKAM Akamai Technologies, Inc. | $11.2B | 27.6× | 34.2× | +5.38% (above 0%: growing) | −23.61% (below 0%: shrinking) | −57.30% (below 0%: shrinking) | 55.81% | 7.30% | Compare |
| SAIL SailPoint, Inc. | $10.5B | — (loss-making) | — (loss-making) | +16.82% (above 0%: growing) | n/m | −18.60% (below 0%: shrinking) | 66.51% | (19.09%) | Compare |
| PAYP PayPay Corporation | $9.7B | — | — | — | — | — | 100.00% | 28.08% | Compare |
| NTSK Netskope Inc. | $8.9B | — (loss-making) | — (loss-making) | +29.15% (above 0%: growing) | n/m | −51.62% (below 0%: shrinking) | 73.92% | (40.72%) | Compare |
| DOCN DigitalOcean Holdings, Inc. | $8.3B | 171× | 175× | +39.87% (above 0%: growing) | n/m | +85.62% (above 0%: growing) | 50.15% | 10.28% | |
| GTLB GitLab Inc. | $8.2B | — (loss-making) | — (loss-making) | +21.31% (above 0%: growing) | n/m | −107.11% (below 0%: shrinking) | 84.06% | (19.89%) | Compare |
| DBX Dropbox, Inc. | $7.8B | 19.7× | 20.7× | +0.93% (above 0%: growing) | −6.52% (below 0%: shrinking) | −10.29% (below 0%: shrinking) | 80.21% | 26.10% | Compare |
| S SentinelOne, Inc. | $7.5B | — (loss-making) | — (loss-making) | +20.56% (above 0%: growing) | n/m | −83.92% (below 0%: shrinking) | 72.07% | (31.08%) | Compare |
| ZETA Zeta Global Holdings Corp. | $7.4B | — (loss-making) | 299× | +43.55% (above 0%: growing) | n/m | +69.99% (above 0%: growing) | 59.12% | 3.82% | Compare |
| Median of peers | $8.5B | — | 34.2× | +20.56% | — | −51.62% | 73.00% | (7.63%) |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
91.03%
Held by the ten largest
46.05%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| JPMorgan Chase | 13.85m | 13.19% | +9.21m |
| Vanguard | 8.96m | 8.53% | −1.15m |
| BlackRock | 8.79m | 8.37% | −3.19m |
| Hood River Capital Management LLC | 4.20m | 4.00% | +713.60k |
| FULLER & THALER ASSET MANAGEMENT, INC. | 2.63m | 2.51% | +69.30k |
| State Street | 2.51m | 2.39% | −380.50k |
| Two Sigma | 1.89m | 1.80% | +1.70m |
| Geode Capital Management | 1.89m | 1.80% | +18.74k |
| T. Rowe Price | 1.87m | 1.78% | −591.32k |
| Citadel Advisors | 1.77m | 1.68% | −522.80k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 24 April 2026
Ownership
Directors and executive officers, together
less than 1%
Entities affiliated with AI Droplet Holdings LLC
21.44%
BlackRock, Inc.
9.02%
The Vanguard Group
8.97%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
DigitalOcean Holdings, Inc. (DOCN) Latest News
5 Nov
3 Nov
22 Oct
16 Oct
13 Oct
12 Oct
1 Oct
21 Sep
DOCN metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
DigitalOcean provides cloud computing services that let developers and businesses build and run applications without operating all of their own computing infrastructure. Its customers range from individual developers experimenting with technology to growing companies running applications for their own users. The company was incorporated in 2012, is headquartered in Broomfield, Colorado, and is led by Chief Executive Officer Padmanabhan Srinivasan.
Its core products include virtual machines, called Droplets, along with storage and networking. Customers can manage this infrastructure themselves or use services that handle more of the work for them, such as managed hosting, databases and Kubernetes. Its App Platform handles infrastructure and application runtimes for developers deploying code.