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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.

Revenue
+9.38%
EPS
+32.3%
Free cash flow
+35.9%

Quarter to July 2026, against a year earlier

77.85 1.07 −1.36%
Market cap
$14.8B
P/E
47.3×
Fwd P/E
45.2×
Dividend yield
—
F-score
6/9
Altman Z
2.98
Beneish M
−3.25
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Reportable Segment

Every year since 2017 →

Insider Decisions last twelve months

Sold, $m 23.33
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 6 4 1 4 4 1 4 4 2 6 4 1
Insider Ownership 2.89%

Capital & Financial Ratios $m

Size
Market Cap 14,750.00
Revenue ttm 3,361.19
Net income ttm 329.94
Free cash flow ttm 1,198.29
Net debt Q (777.68)
Valuation
P/E 47.29 (above 35: high)
Forward P/E 45.20 (above 35: high)
Price / sales 4.49
Forward P/S Powerpack
Price / FCF 12.61
Price / book 8.79 (above 6: high)
Financial health
Current ratio Q 0.64 (below 1: weak)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 206.72
Growth
Revenue growth Q +9.38% (above 0%: growing)
Operating income growth Q +80.33% (above 0%: growing)
EPS, this year +20.37% (at or above 15%: strong)
EPS, next year A +12.81%
Revenue, next year A +8.87%
EPS, past 5 yrs —
EPS, next 5 yrs A +14.26%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.5×, against a ten-year median of 5.6×; over the ten years it ranged from 2.0× in 2018 to 35.6× in 2021.
P/E against its own 10 years 63.94%
10-year low 10-year high
P/S against its own 10 years 33.35%
10-year low 10-year high
P/B against its own 10 years 25.97%
10-year low 10-year high
EV/Sales against its own 10 years 35.63%
10-year low 10-year high
EV/FCF against its own 10 years 14.83%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 1,045 964 867 778
Receivables 439 430 516 371
Inventory — — — —
Other 16 14 11 8
1,568 1,489 1,491 1,269
2024 2025 2026 Q'26
Payables 19 31 17 22
ST’ Debt — — — —
Other 1,320 1,455 1,631 1,576
1,661 1,832 2,039 1,973

Compound Annual Growth %

10y 5y 3y
Sales — 17.25% 8.57%
Cash Flow — 31.44% 31.98%
Earnings — 0.00% 0.00%
Book Value — 42.56% 45.92%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 1.08 Actual 1.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 0.92 1.01 Beat by 0.09
Q4 FY26 0.95 1.01 Beat by 0.06
Q1 FY27 1.00 1.09 Beat by 0.09
Q2 FY27 1.08 1.16 Beat by 0.08
Q3 FY27 1.17 — Reports 3 December 2026

EPS $

Apr Jul Oct Jan Year
’26 0.40 0.40 — — —
’26 0.34 0.30 0.40 0.44 1.48
’25 0.16 4.26 0.30 0.39 5.08
’24 0.00 0.04 0.19 0.13 0.36
’23 (0.14) (0.22) (0.15) 0.02 (0.49)
’22 (0.04) (0.13) (0.03) (0.15) (0.36)
’21 (0.26) (0.35) (0.31) (0.38) (1.31)
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 830 876 — — —
’26 764 801 818 837 3,220
’25 710 736 755 776 2,977
’24 661 688 700 712 2,762
’23 589 622 645 660 2,516
’22 469 512 545 581 2,107
’21 297 342 383 431 1,453
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 322 335 — — —
’26 251 246 290 377 1,165
’25 255 220 234 308 1,017
’24 234 211 264 271 980
’23 196 121 53 137 507
’22 136 178 105 88 506
’21 59 118 57 62 297
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 289 296 — — —
’26 228 218 263 350 1,059
’25 232 198 211 280 920
’24 215 184 240 249 887
’23 175 105 36 113 429
’22 123 162 90 70 445
’21 33 100 38 44 215
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 8.9% a year for ten years.

Implied
8.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 381 519 701 974 1,453 2,107 2,516 2,762 2,977 3,220 3,361 +26.7% 3,505 3,784 4,064 +8.1%
Gross margin, % 73.14 77.19 72.55 75.03 74.95 77.86 78.69 79.27 79.12 79.40 79.49 +6.3 pt
EBT (115) (49) (428) (204) (229) (67) (90) 94 248 347 440 n/m
EBT margin, % (30.16) (9.48) (61.09) (20.90) (15.79) (3.18) (3.57) 3.39 8.33 10.79 13.08 +40.9 pt
Net income (115) (52) (426) (208) (243) (70) (97) 74 1,068 309 330 n/m
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 17.57 +1.8%
Earnings (4.12) (1.62) (3.16) (1.18) (1.31) (0.36) (0.49) 0.36 5.23 1.53 1.67 n/m
Cash flow (0.17) 1.70 0.56 0.65 1.60 2.58 2.52 4.80 4.98 5.77 6.92 n/m
Capex (1.55) (0.59) (0.22) (0.41) (0.44) (0.31) (0.39) (0.45) (0.47) (0.53) (0.66) (11.3%)
Free cash flow (1.72) 1.12 0.34 0.25 1.16 2.26 2.14 4.35 4.50 5.24 6.27 n/m
Book value 0.00 6.47 4.55 3.09 1.75 1.40 3.07 5.54 9.80 9.49 8.99 n/m
Shares, m 28 32 135 177 186 197 201 204 204 202 198 +24.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 167.96 18.53 34.21 47.29 22.1
P/S 2.47 2.47 9.54 14.24 29.42 11.74 4.84 4.50 6.64 3.26 4.49 8.9
P/B 0.00 0.00 10.88 25.39 131.24 89.78 19.74 11.00 9.87 5.48 8.79 30.3
EV/Sales 1.98 1.98 9.06 14.05 29.37 11.70 4.70 4.37 6.55 3.21 4.47 8.7
EV/FCF 28.45 28.45 139.11 313.45 198.89 55.39 27.58 13.61 21.17 9.76 12.53 83.6
Cash, $m
Cash, $m Operating cash flow (5) 55 76 116 297 506 507 980 1,017 1,165 1,324 n/m
Capex (43) (19) (30) (72) (82) (61) (78) (92) (97) (106) (125) +10.5%
Free cash flow (48) 36 46 44 215 445 429 887 920 1,059 1,198 n/m
Balance, $m
Balance, $m Working capital 44 45 468 250 69 (52) (577) (93) (343) (549) (704) n/m
Net debt (191) (257) (330) (191) (77) (84) (1,032) (1,045) (964) (867) (778) +18.3%
Shareholders’ equity — 209 614 546 326 276 617 1,130 2,003 1,918 1,719 +31.9%
Returns, %
Returns, % ROA (37.70) (17.34) (38.16) (11.88) (11.51) (2.87) (3.51) 2.47 30.58 7.50 8.34 +45.2 pt
ROIC 0.00 0.00 (93.85) (34.02) (43.67) (20.23) 0.00 23.46 12.02 17.75 26.71 +17.8 pt
ROE 34.09 15.67 (309.35) (35.90) (55.79) (23.28) (21.83) 8.47 68.18 15.77 17.80 (18.3) pt
People
People Employees — 2,255 3,023 3,909 5,630 7,461 7,336 6,840 6,838 7,044 — +15.3%
Revenue/emp, $m 0.00 0.23 0.23 0.25 0.26 0.28 0.34 0.40 0.44 0.46 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Business profile

Updated

Docusign sells software for signing, storing and managing agreements. Its customers range from individuals and very small businesses to large enterprises and government institutions. Founded in 2003 and headquartered in San Francisco, the company is led by President and Chief Executive Officer Allan Thygesen.

Its eSignature product lets people send and sign documents electronically. Customers can use it on its own or as part of Intelligent Agreement Management, or IAM, Docusign’s platform for handling agreements before and after signature. IAM brings agreements into a repository, helps users find information in them and lets organizations build workflows for tasks such as approvals and renewals.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Reportable Segment 3,220 100.00%
Gross margin 79.40%
Operating margin 9.27%
Pre-tax margin 10.79%

Revenue by segment since 2017

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
SSNC SS&C Technologies Holdings, Inc. $18.4B 21.8× 20.6× +10.34% (above 0%: growing) +33.78% (above 0%: growing) +14.94% (above 0%: growing) 48.26% 24.60% Compare
TYL Tyler Technologies, Inc. $17.1B 53.6× 45.9× +8.67% (above 0%: growing) +19.80% (above 0%: growing) +11.88% (above 0%: growing) 49.14% 18.07% Compare
FICO Fair Isaac Corporation $15.3B 20.4× 19.2× +25.68% (above 0%: growing) +39.65% (above 0%: growing) +34.07% (above 0%: growing) 87.09% 53.79% Compare
MANH Manhattan Associates, Inc. $14.8B 71.0× 68.4× +11.02% (above 0%: growing) +8.25% (above 0%: growing) −22.46% (below 0%: shrinking) 56.93% 26.45% Compare
DOCU Docusign Inc. $14.8B 47.3× 45.2× +9.38% (above 0%: growing) +32.26% (above 0%: growing) +35.89% (above 0%: growing) 79.69% 13.43%
GRAB Grab Holdings Limited $14.2B 25.9× 19.3× +27.38% (above 0%: growing) −56.00% (below 0%: shrinking) +108.44% (above 0%: growing) 46.49% 9.71% Compare
GWRE Guidewire Software, Inc. $13.8B 101× 74.0× +15.29% (above 0%: growing) −38.71% (below 0%: shrinking) +16.42% (above 0%: growing) 65.60% 15.16% Compare
BSY Bentley Systems, Incorporated $13.6B 43.3× 39.1× +12.24% (above 0%: growing) +61.11% (above 0%: growing) −8.34% (below 0%: shrinking) 82.93% 29.09% Compare
DT Dynatrace, Inc. $12.5B 79.3× 70.5× +17.43% (above 0%: growing) +23.84% (above 0%: growing) +29.38% (above 0%: growing) 80.56% 16.49% Compare
Median of peers $14.5B 48.5× 42.5× +13.77% +21.82% +15.68% 61.27% 21.33%

All 230 Software Application stocks →

From the latest earnings call

Updated

  • CEO Allan Thygesen said Intelligent Agreement Management accounted for 15.1% of annual recurring revenue in Q2, up from 12.6% in Q1.
  • CFO Blake Grayson said Docusign raised its fiscal 2027 outlook for annual recurring revenue growth and IAM’s share of that revenue.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 92.31%
Held by the ten largest 46.42%
Holder Shares Stake Change
Vanguard 22.28m 11.67% +104.40k
BlackRock 20.87m 10.93% −693.83k
AQR Capital Management 8.93m 4.68% +4.11m
Capital Group 7.06m 3.70% +15.80k
State Street 6.28m 3.29% −543.67k
Ameriprise (Columbia Threadneedle) 6.17m 3.23% +2.13m
Arrowstreet Capital 5.58m 2.92% +295.91k
Geode Capital Management 4.11m 2.15% −46.88k
UBS 4.02m 2.10% −93.39k
FEDERATED HERMES, INC. 3.33m 1.75% +1.45m
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 16 April 2026

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc.55 East 12.21%
The Vanguard Group100 Vanguard Boulevard, Malvern, PA 10.92%
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

Docusign Inc. (DOCU) Latest News

29 Oct

Impact 3 · · Zacks

28 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 · · Zacks

26 Oct

Impact 4 · · PR Newswire

22 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Trefis

21 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

20 Oct

Impact 3 · · PR Newswire

19 Oct

Impact 3 · · Zacks

16 Oct

Impact 3 · · Simply Wall St.

15 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Business Wire
Impact 3 · · Zacks

14 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 4 · · verdict.co.uk

13 Oct

Impact 4 · · PR Newswire
Impact 3 · · Zacks

8 Oct

Impact 4 · · PR Newswire

29 Sep

Impact 4 · · Zacks

24 Sep

Impact 3 · · Zacks

17 Sep

Impact 3 ·

14 Sep

Impact 4 ·
Impact 3 ·

13 Sep

Impact 4 · · The Motley Fool

9 Sep

Impact 4 · · The Motley Fool transcript

8 Sep

Impact 4 · · MarketBeat

DOCU metrics, ten years each

stockrow.com/DOCU · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com