Docusign Inc. (DOCU) vs Dynatrace, Inc. (DT)

Docusign Inc. and Dynatrace, Inc. are both Software Application companies. Dynatrace, Inc. is the larger, with a market value of $18.4B against $14.5B — 1.3× the size. Docusign Inc. trades at the lower P/E: 44.7× against 120×. Dynatrace, Inc. grew revenue faster over the last twelve months: 17.9% against 8.59%. Docusign Inc. has the higher net margin (9.82% vs 7.22%) and the higher return on invested capital (26.7% vs 11.9%). Across the 21 metrics below, Docusign Inc. leads on 12 and Dynatrace, Inc. on 9.

Valuation

Metric DOCU DT Software Application median
P/E 44.69 119.82 25.41
P/S 4.25 8.52 2.73
P/B 8.31 7.29 2.57
Price to free cash flow 11.91 31.27 17.58
EV/EBITDA 17.76 60.66 15.36
EV/Sales 4.22 8.10 2.59
Earnings yield 2.24% 0.83% 0.00%
Free cash flow yield 8.40% 3.20% 2.24%

Profitability

Metric DOCU DT Software Application median
Gross margin 79.49% 81.37% 67.03%
Operating margin 11.96% 12.15% 0.00%
Net margin 9.82% 7.22% 0.00%
Free cash flow margin 35.65% 27.23% 5.01%
Return on equity 17.80% 5.88% 0.00%
Return on assets 8.34% 3.70% 0.00%
Return on invested capital 26.71% 11.85% 0.00%

Growth

Metric DOCU DT Software Application median
Revenue growth (TTM) 8.59% 17.94% 12.48%
EPS growth (last fiscal year) (70.87%) (66.04%) 32.26%
Revenue growth, 5-year CAGR 17.25% 23.47% 14.21%
Net income growth, 5-year CAGR 0.00% 16.53% 0.00%

Health

Metric DOCU DT Software Application median
Debt to equity 0.00 0.00 0.02
Current ratio 0.64 1.21 1.52
Net debt to EBITDA (1.26) (4.35) 0.08

Dividend

Metric DOCU DT Software Application median
Dividend yield — — 0.95%
Payout ratio — — 0.29

Size

Metric DOCU DT Software Application median
Market cap 14.49b 18.42b 357.77m

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