DOCN - DigitalOcean Holdings, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$144.20
DETAILS
HIGH:
$200.00
LOW:
$57.00
MEDIAN:
$175.00
CONSENSUS:
$144.20
DOWNSIDE:
9.00%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 901.4 | 780.6 | 692.9 | 576.3 | 428.6 | 318.4 | 254.8 | 203.1 |
| Cost of Revenue | 361.8 | 314.7 | 284.0 | 211.9 | 170.6 | 145.5 | 122.3 | 97.0 |
| Gross Profit | 539.6 | 465.9 | 408.9 | 364.4 | 258.0 | 172.8 | 132.6 | 106.1 |
| Operating Expenses | ||||||||
| R&D Expenses | 161.6 | 142.5 | 140.4 | 143.9 | 115.7 | 75.0 | 60.0 | 44.9 |
| SG&A Expenses | 221.0 | 232.4 | 235.8 | 246.2 | 153.5 | 113.7 | 102.5 | 88.5 |
| Other Expenses | 0 | 0 | 20.9 | 0 | 0 | 0 | 0 | (0.6) |
| Operating Expenses | 382.6 | 374.9 | 397.0 | 390.1 | 269.2 | 188.6 | 162.5 | 133.4 |
| Operating Income | ||||||||
| Operating Income | 157.0 | 91.0 | 11.9 | (25.7) | (11.2) | (15.8) | (29.9) | (27.3) |
| Interest Expense | 17.9 | 9.1 | 8.9 | 8.4 | 3.7 | 13.6 | 9.4 | 6.3 |
| Interest Income | 0 | 15.8 | 23.8 | 10.6 | 0.2 | 0 | 0 | 0 |
| Profitability | ||||||||
| EBITDA | 362.1 | 236.9 | 153.6 | 86.7 | 73.9 | 46.5 | 32.8 | 23.9 |
| EBIT | 224.6 | 106.8 | 35.7 | (15.5) | (14.5) | (29.0) | (30.2) | (28.5) |
| Income Before Tax | 206.7 | 97.7 | 26.8 | (23.9) | (18.2) | (42.7) | (39.6) | (34.8) |
| Income Tax Expense | (52.6) | 13.2 | 7.4 | 3.9 | 1.3 | 0.9 | 0.8 | 1.2 |
| Net Income | 259.3 | 84.5 | 19.4 | (27.8) | (19.5) | (43.6) | (40.4) | (36.0) |
| Per Share Data | ||||||||
| EPS (Basic) | 2.83 | 0.92 | 0.22 | -0.24 | -0.18 | -0.41 | -0.38 | -0.41 |
| EPS (Diluted) | 2.52 | 0.89 | 0.20 | -0.24 | -0.18 | -0.41 | -0.38 | -0.41 |
| Shares Outstanding | 91.5 | 91.6 | 90.1 | 100.8 | 107.2 | 105.3 | 105.3 | 87.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 254.5 | 428.4 | 317.2 | 140.8 | 1,713.4 | 100.3 | 32.9 | 30.0 |
| Short-Term Investments | 0 | 0 | 94.5 | 723.5 | 0 | 0 | 0 | 0 |
| Net Receivables | 90.9 | 91.1 | 62.2 | 53.8 | 39.6 | 28.1 | 20.7 | 16.4 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 81.6 | 4.6 | 29.0 | (0.6) | 0 | 0 | 4.2 | 0 |
| Total Current Assets | 427.0 | 541.7 | 503.0 | 946.0 | 1,770.1 | 148.0 | 60.6 | 50.5 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 859.9 | 620.4 | 460.6 | 426.9 | 249.6 | 239.0 | 178.8 | 175.4 |
| Goodwill | 348.7 | 348.7 | 348.3 | 315.2 | 32.2 | 2.7 | 2.7 | 0 |
| Intangible Assets | 99.5 | 117.7 | 140.2 | 118.9 | 42.9 | 34.6 | 56.9 | 34.4 |
| Long-Term Investments | 0 | 1.7 | 0 | 0 | 0 | 0 | 0 | 3.6 |
| Other Non-Current Assets | 12.3 | 8.5 | 6.9 | 7.9 | 6.1 | 5.9 | 3.4 | (19.0) |
| Total Non-Current Assets | 1,410.7 | 1,097.3 | 958.0 | 869.6 | 330.9 | 282.3 | 241.9 | 194.5 |
| Total Assets | 1,837.7 | 1,639.0 | 1,461.0 | 1,815.6 | 2,101.0 | 430.3 | 302.5 | 245.1 |
| Current Liabilities | ||||||||
| Account Payables | 38.8 | 54.6 | 4.0 | 21.1 | 12.7 | 12.4 | 27.2 | 13.7 |
| Short-Term Debt | 464.6 | 0 | 0 | 0 | 0 | 17.5 | 14.2 | 23.3 |
| Deferred Revenue | 5.9 | 5.4 | 5.3 | 5.5 | 4.8 | 4.9 | 0 | 3.5 |
| Other Current Liabilities | 110.2 | 3.7 | 16.0 | 6.6 | 2.1 | 15.2 | 18.5 | 13.7 |
| Total Current Liabilities | 619.5 | 221.0 | 192.6 | 165.5 | 58.2 | 84.8 | 72.5 | 63.5 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 266.0 | 1,485.4 | 1,477.8 | 1,470.3 | 1,462.7 | 242.2 | 173.0 | 108.0 |
| Deferred Tax Liabilities | 4.1 | 4.1 | 3.5 | 20.8 | 0.4 | 0.2 | 0 | 0.1 |
| Other Non-Current Liabilities | 976.8 | 1.1 | 9.5 | 3.8 | 1.5 | 175.1 | 3.1 | 3.3 |
| Total Non-Current Liabilities | 1,246.9 | 1,621.0 | 1,582.0 | 1,602.5 | 1,464.6 | 417.6 | 179.0 | 115.1 |
| Total Liabilities | 1,866.4 | 1,842.0 | 1,774.7 | 1,768.1 | 1,522.8 | 502.3 | 251.5 | 178.7 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (43.7) | (258.7) | (344.2) | (214.3) | (186.5) | (167.0) | (123.5) | (83.1) |
| Accumulated Other Comprehensive Income | (1.0) | (1.5) | (0.5) | (2.0) | (0.4) | (0.2) | (0.1) | (0.1) |
| Total Stockholders' Equity | (28.7) | (203.0) | (313.7) | 47.6 | 578.2 | (72.1) | 51.0 | (56.9) |
| Total Liabilities & Equity | 1,837.7 | 1,639.0 | 1,461.0 | 1,815.6 | 2,101.0 | 430.3 | 302.5 | 245.1 |
| Debt Metrics | ||||||||
| Total Debt | 730.6 | 1,695.1 | 1,655.5 | 1,635.4 | 1,462.7 | 259.7 | 191.1 | 135.9 |
| Net Debt | 476.1 | 1,266.7 | 1,338.3 | 1,494.6 | (250.7) | 159.4 | 158.2 | 106.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | 259.3 | 84.5 | 19.4 | (24.3) | (19.5) | (43.6) | (40.4) | (36.0) |
| Depreciation & Amortization | 137.4 | 130.1 | 117.9 | 102.2 | 88.4 | 75.6 | 62.9 | 52.4 |
| Stock-Based Compensation | 80.3 | 90.5 | 88.3 | 105.8 | 61.6 | 29.5 | 0 | 12.2 |
| Change in Working Capital | (51.4) | (57.3) | (22.4) | (14.2) | (8.0) | (29.6) | (2.8) | (2.7) |
| Other Non-Cash Items | (44.8) | 32.6 | 32.6 | 29.9 | 1.5 | 26.6 | 20.3 | 12.1 |
| Operating Cash Flow | 309.6 | 282.7 | 234.9 | 195.2 | 133.1 | 58.5 | 39.9 | 38.0 |
| Investing Activities | ||||||||
| Capital Expenditure | (139.9) | (186.5) | (124.8) | (120.2) | (109.1) | (115.8) | (70.4) | (61.3) |
| Acquisitions | 0 | 0.0 | (99.0) | (305.2) | (5) | 0 | (2.9) | 0 |
| Purchases of Investments | 0 | 0 | (352.5) | (1,696.7) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 91.7 | 979.7 | 978.4 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (268.3) | 0 | (2.3) | (4.4) | 0.5 | 0.2 | 0 | (22.9) |
| Investing Cash Flow | (268.3) | (94.8) | 401.2 | (1,148.2) | (113.6) | (115.6) | (87.4) | (61.3) |
| Financing Activities | ||||||||
| Net Debt Issuance | (114.4) | (5.5) | (2.3) | 0 | 1,198.8 | 53.9 | 32.5 | (27.4) |
| Stock Repurchased | (82.1) | (59.8) | (488.5) | (600) | (350) | (1.4) | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (29.4) | (11.2) | 21.8 | (10.4) | 20.2 | 21.7 | 11.5 | 8.0 |
| Financing Cash Flow | (216.9) | (76.4) | (468.9) | (610.4) | 1,593.4 | 124.0 | 49.8 | (14.2) |
| Cash Position | ||||||||
| Net Change in Cash | (174.0) | 111.2 | 167.2 | (1,563.6) | 1,612.9 | 66.7 | 2.9 | (37.5) |
| Cash at Beginning | 428.4 | 319.0 | 151.8 | 1,715.4 | 102.5 | 35.9 | 30.0 | 71.1 |
| Cash at End | 254.5 | 430.2 | 319.0 | 151.8 | 1,715.4 | 102.5 | 32.9 | 33.6 |
| Free Cash Flow | 169.8 | 96.2 | 110.1 | 74.9 | 24.0 | (57.3) | (30.5) | (23.3) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 901.4 | 780.6 | 692.9 | 576.3 | 428.6 | 318.4 | 254.8 | 203.1 |
| Gross Profit | 539.6 | 465.9 | 408.9 | 364.4 | 258.0 | 172.8 | 132.6 | 106.1 |
| Operating Income | 157.0 | 91.0 | 11.9 | (25.7) | (11.2) | (15.8) | (29.9) | (27.3) |
| Net Income | 259.3 | 84.5 | 19.4 | (27.8) | (19.5) | (43.6) | (40.4) | (36.0) |
| EPS (Diluted) | 2.52 | 0.89 | 0.20 | -0.24 | -0.18 | -0.41 | -0.38 | -0.41 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 254.5 | 428.4 | 317.2 | 140.8 | 1,713.4 | 100.3 | 32.9 | 30.0 |
| Total Assets | 1,837.7 | 1,639.0 | 1,461.0 | 1,815.6 | 2,101.0 | 430.3 | 302.5 | 245.1 |
| Total Debt | 730.6 | 1,695.1 | 1,655.5 | 1,635.4 | 1,462.7 | 259.7 | 191.1 | 135.9 |
| Stockholders' Equity | (28.7) | (203.0) | (313.7) | 47.6 | 578.2 | (72.1) | 51.0 | (56.9) |
| Cash Flow | ||||||||
| Operating Cash Flow | 309.6 | 282.7 | 234.9 | 195.2 | 133.1 | 58.5 | 39.9 | 38.0 |
| Capital Expenditure | (139.9) | (186.5) | (124.8) | (120.2) | (109.1) | (115.8) | (70.4) | (61.3) |
| Free Cash Flow | 169.8 | 96.2 | 110.1 | 74.9 | 24.0 | (57.3) | (30.5) | (23.3) |