Saturday 17 October 2026
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Docusign Inc.
DOCU Technology Software Application
Docusign Inc.’s revenue for fiscal 2026 (year ended January 2026) was $3.2 billion, up 8.16% from fiscal 2025. In the quarter to July 2026, revenue grew 9.38%, EPS grew 32.3% and free cash flow grew 35.9%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
74.63
2.89
−3.73%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to January
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | 35.06 | 38.80 | 64.88 | 131.51 | 39.57 | 38.11 | 48.70 | 63.41 | 40.16 |
Analyst estimates 2027–2029 Powerpack |
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| High | — | 68.35 | 76.28 | 290.23 | 314.76 | 157.37 | 69.45 | 107.86 | 99.30 | 78.80 | |||||
| People | |||||||||||||||
| People | Employees | — | 2,255 | 3,023 | 3,909 | 5,630 | 7,461 | 7,336 | 6,840 | 6,838 | 7,044 | ||||
| Revenue/emp, $m | 0.00 | 0.23 | 0.23 | 0.25 | 0.26 | 0.28 | 0.34 | 0.40 | 0.44 | 0.46 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 381 | 519 | 701 | 974 | 1,453 | 2,107 | 2,516 | 2,762 | 2,977 | 3,220 | ||||
| Gross margin, % | 73.14 | 77.19 | 72.55 | 75.03 | 74.95 | 77.86 | 78.69 | 79.27 | 79.12 | 79.40 | |||||
| EBT | (115) | (49) | (428) | (204) | (229) | (67) | (90) | 94 | 248 | 347 | |||||
| EBT margin, % | (30.16) | (9.48) | (61.09) | (20.90) | (15.79) | (3.18) | (3.57) | 3.39 | 8.33 | 10.79 | |||||
| Net income | (115) | (52) | (426) | (208) | (243) | (70) | (97) | 74 | 1,068 | 309 | |||||
| Depreciation | 51 | 62 | 90 | 146 | 198 | 231 | 276 | 300 | 346 | 388 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 13.61 | 16.06 | 5.19 | 5.51 | 7.82 | 10.71 | 12.52 | 13.53 | 14.57 | 15.93 | ||||
| Earnings | (4.12) | (1.62) | (3.16) | (1.18) | (1.31) | (0.36) | (0.49) | 0.36 | 5.23 | 1.53 | |||||
| Cash flow | (0.17) | 1.70 | 0.56 | 0.65 | 1.60 | 2.58 | 2.52 | 4.80 | 4.98 | 5.77 | |||||
| Capex | (1.55) | (0.59) | (0.22) | (0.41) | (0.44) | (0.31) | (0.39) | (0.45) | (0.47) | (0.53) | |||||
| Free cash flow | (1.72) | 1.12 | 0.34 | 0.25 | 1.16 | 2.26 | 2.14 | 4.35 | 4.50 | 5.24 | |||||
| Book value | 0.00 | 6.47 | 4.55 | 3.09 | 1.75 | 1.40 | 3.07 | 5.54 | 9.80 | 9.49 | |||||
| Shares, m | 28 | 32 | 135 | 177 | 186 | 197 | 201 | 204 | 204 | 202 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 167.96 | 18.53 | 34.21 | ||||
| P/S | 2.47 | 2.47 | 9.54 | 14.24 | 29.42 | 11.74 | 4.84 | 4.50 | 6.64 | 3.26 | |||||
| P/B | 0.00 | 0.00 | 10.88 | 25.39 | 131.24 | 89.78 | 19.74 | 11.00 | 9.87 | 5.48 | |||||
| EV/Sales | 1.98 | 1.98 | 9.06 | 14.05 | 29.37 | 11.70 | 4.70 | 4.37 | 6.55 | 3.21 | |||||
| EV/FCF | 28.45 | 28.45 | 139.11 | 313.45 | 198.89 | 55.39 | 27.58 | 13.61 | 21.17 | 9.76 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | (5) | 55 | 76 | 116 | 297 | 506 | 507 | 980 | 1,017 | 1,165 | ||||
| Capex | (43) | (19) | (30) | (72) | (82) | (61) | (78) | (92) | (97) | (106) | |||||
| Free cash flow | (48) | 36 | 46 | 44 | 215 | 445 | 429 | 887 | 920 | 1,059 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 44 | 45 | 468 | 250 | 69 | (52) | (577) | (93) | (343) | (549) | ||||
| Total debt | — | — | 439 | 465 | 697 | 718 | 141 | — | — | — | |||||
| Net debt | (191) | (257) | (330) | (191) | (77) | (84) | (1,032) | (1,045) | (964) | (867) | |||||
| Shareholders’ equity | — | 209 | 614 | 546 | 326 | 276 | 617 | 1,130 | 2,003 | 1,918 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (37.70) | (17.34) | (38.16) | (11.88) | (11.51) | (2.87) | (3.51) | 2.47 | 30.58 | 7.50 | ||||
| ROIC | 0.00 | 0.00 | (93.85) | (34.02) | (43.67) | (20.23) | 0.00 | 23.46 | 12.02 | 17.75 | |||||
| ROE | 34.09 | 15.67 | (309.35) | (35.90) | (55.79) | (23.28) | (21.83) | 8.47 | 68.18 | 15.77 | |||||
Negative figures in brackets.
Fiscal years to Jan 2026 · latest quarter Jul 2026
Charts ten years each
Docusign Inc. vs peers in Software Application (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 |
|---|---|---|---|---|---|---|---|---|---|
| FICO Fair Isaac Corporation | $16.6B | 22.0× | 30.0× | +25.68% (above 0%: growing) | +39.65% (above 0%: growing) | +34.07% (above 0%: growing) | 87.09% | 53.79% | Compare |
| TYL Tyler Technologies, Inc. | $14.9B | 47.3× | 37.8× | +8.22% (above 0%: growing) | +14.80% (above 0%: growing) | +34.72% (above 0%: growing) | 47.60% | 14.74% | Compare |
| DOCU Docusign Inc. | $14.5B | 44.7× | 27.4× | +9.38% (above 0%: growing) | +32.26% (above 0%: growing) | +35.89% (above 0%: growing) | 79.69% | 13.43% | |
| GWRE Guidewire Software, Inc. | $14.4B | 102× | 64.1× | +15.29% (above 0%: growing) | −38.71% (below 0%: shrinking) | +16.42% (above 0%: growing) | 65.60% | 15.16% | Compare |
| MANH Manhattan Associates, Inc. | $13.2B | 62.9× | 40.5× | +9.31% (above 0%: growing) | −8.51% (below 0%: shrinking) | +27.98% (above 0%: growing) | 56.53% | 22.24% | Compare |
| FIG Figma, Inc. | $12.3B | — (loss-making) | — (loss-making) | +48.25% (above 0%: growing) | n/m | −16.79% (below 0%: shrinking) | 83.66% | (31.69%) | Compare |
| GRAB Grab Holdings Limited | $12.2B | 21.0× | 32.6× | +21.73% (above 0%: growing) | +500.00% (above 0%: growing) | −40.38% (below 0%: shrinking) | 43.63% | 1.91% | Compare |
| HUBS HubSpot, Inc. | $11.9B | 81.5× | 56.8× | +19.83% (above 0%: growing) | n/m | +44.84% (above 0%: growing) | 82.35% | 4.75% | Compare |
| FROG JFrog Ltd. | $11.7B | — (loss-making) | — (loss-making) | +28.73% (above 0%: growing) | n/m | +51.58% (above 0%: growing) | 77.93% | (8.09%) | Compare |
| Median of peers | $12.7B | 55.1× | 39.2× | +20.78% | +14.80% | +31.03% | 71.77% | 9.75% |
Docusign Inc. (DOCU) key facts
- Strength: Docusign Inc.’s revenue for fiscal 2026 (year ended January 2026) was $3.2 billion, up 8.16% from fiscal 2025.
- Docusign Inc. (DOCU) is a Software Application company in the Technology sector, listed on Nasdaq.
- As of October 16, 2026, DOCU traded at $74.63, a market capitalization of $14.5 billion.
- Return on equity was 15.8% and debt-to-equity 0.00.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.98 (grey zone) for fiscal 2026.