DOCU - DocuSign, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$68.67
DETAILS
HIGH:
$80.00
LOW:
$45.00
MEDIAN:
$75.00
CONSENSUS:
$68.67
UPSIDE:
38.64%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 3,219.5 | 2,976.7 | 2,761.9 | 2,515.9 | 2,107.2 | 1,453.0 | 974.0 | 701.0 | 518.5 | 381.5 |
| Cost of Revenue | 663.1 | 621.7 | 572.6 | 536.1 | 466.5 | 364.1 | 243.2 | 192.4 | 118.3 | 102.5 |
| Gross Profit | 2,556.4 | 2,355.1 | 2,189.3 | 1,979.8 | 1,640.8 | 1,089.0 | 730.7 | 508.5 | 400.2 | 279.0 |
| Operating Expenses | ||||||||||
| R&D Expenses | 665.0 | 588.5 | 539.5 | 480.6 | 393.4 | 271.5 | 185.6 | 186.0 | 92.4 | 89.7 |
| SG&A Expenses | 1,592.9 | 1,537.0 | 1,587.8 | 1,558.9 | 1,309.3 | 991.3 | 738.7 | 748.9 | 359.5 | 305.1 |
| Other Expenses | 0 | 29.7 | 30.4 | 28.3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 2,257.9 | 2,155.2 | 2,157.6 | 2,067.9 | 1,702.6 | 1,262.8 | 924.2 | 934.9 | 451.9 | 394.8 |
| Operating Income | ||||||||||
| Operating Income | 298.6 | 199.9 | 31.6 | (88.0) | (61.9) | (173.9) | (193.5) | (426.3) | (51.7) | (115.8) |
| Interest Expense | 2.5 | 1.6 | 6.8 | 6.4 | 6.4 | 30.8 | 29.3 | 10.8 | 0.6 | 0.6 |
| Interest Income | 40.5 | 49.6 | 68.9 | 4.5 | 1.4 | 8.9 | 19.2 | 0 | 1.1 | 1.4 |
| Profitability | ||||||||||
| EBITDA | 562.2 | 357.3 | 195.6 | 2.8 | 21.4 | (127.6) | (126.1) | (380.3) | (16.8) | (86.0) |
| EBIT | 335.5 | 249.5 | 100.5 | (83.5) | (60.5) | (198.7) | (176.3) | (418.3) | (48.5) | (114.4) |
| Income Before Tax | 347.3 | 247.9 | 93.7 | (89.9) | (66.9) | (229.5) | (203.6) | (428.2) | (49.1) | (115.1) |
| Income Tax Expense | 38.2 | (819.9) | 19.7 | 7.6 | 3.1 | 13.8 | 4.8 | (1.8) | 3.1 | 0.4 |
| Net Income | 309.1 | 1,067.9 | 74.0 | (97.5) | (70.0) | (243.3) | (208.4) | (426.5) | (52.3) | (115.4) |
| Per Share Data | ||||||||||
| EPS (Basic) | 1.52 | 5.23 | 0.36 | -0.49 | -0.36 | -1.31 | -1.18 | -3.16 | -1.62 | -4.12 |
| EPS (Diluted) | 1.48 | 5.08 | 0.36 | -0.49 | -0.36 | -1.31 | -1.18 | -3.16 | -1.62 | -4.12 |
| Shares Outstanding | 200.5 | 204.3 | 204.1 | 200.9 | 196.7 | 185.8 | 176.7 | 135.2 | 32.3 | 28.0 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 602.4 | 648.6 | 797.1 | 721.9 | 509.1 | 566.1 | 241.2 | 517.8 | 256.9 | 190.6 |
| Short-Term Investments | 264.1 | 314.9 | 248.4 | 309.8 | 293.8 | 207.4 | 414.9 | 251.2 | 0 | 0 |
| Net Receivables | 527.2 | 443.3 | 455.2 | 529.4 | 453.5 | 340.5 | 250.3 | 185.2 | 138.0 | 103.1 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 96.6 | 82.4 | 67.0 | 70.0 | 0 | 0 | 0 | 11.9 | 7.9 | 6.7 |
| Total Current Assets | 1,490.8 | 1,489.3 | 1,567.7 | 1,631.0 | 1,319.6 | 1,162.3 | 943.9 | 984.5 | 418.8 | 317.3 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 527.4 | 409 | 368.4 | 341.4 | 310.7 | 324.4 | 278.1 | 75.8 | 63.0 | 63.7 |
| Goodwill | 458.4 | 454.5 | 353.1 | 353.6 | 355.1 | 350.2 | 194.9 | 195.2 | 37.3 | 35.8 |
| Intangible Assets | 61.4 | 76.4 | 50.9 | 70.3 | 98.8 | 121.8 | 56.5 | 74.2 | 14.1 | 23.0 |
| Long-Term Investments | 238.7 | 134.1 | 122.0 | 186.0 | 94.9 | 92.7 | 239.7 | 164.2 | 1.9 | 1.8 |
| Other Non-Current Assets | 617.5 | 609.0 | 507.2 | 430.4 | 362.2 | 285.1 | 178.0 | 121.4 | 86.7 | 63.1 |
| Total Non-Current Assets | 2,738.7 | 2,523.4 | 1,403.6 | 1,381.7 | 1,221.7 | 1,174.2 | 947.2 | 630.9 | 201.2 | 185.5 |
| Total Assets | 4,229.6 | 4,012.7 | 2,971.3 | 3,012.7 | 2,541.3 | 2,336.5 | 1,891.1 | 1,615.4 | 620.0 | 502.9 |
| Current Liabilities | ||||||||||
| Account Payables | 17.4 | 30.7 | 19.0 | 24.4 | 52.8 | 37.4 | 28.1 | 19.6 | 23.7 | 19.0 |
| Short-Term Debt | 16.6 | 0 | 0 | 722.9 | 0 | 20.5 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 1,455.4 | 1,320.1 | 1,172.9 | 1,029.9 | 779.6 | 507.6 | 381.1 | 270.2 | 187.3 |
| Other Current Liabilities | 2,005.4 | 227.1 | 195.3 | 163.1 | 160.2 | 156.2 | 83.2 | 80.0 | 64.2 | 53.0 |
| Total Current Liabilities | 2,039.4 | 1,831.9 | 1,660.6 | 2,208.3 | 1,371.6 | 1,093.2 | 694.0 | 516.3 | 373.8 | 273.1 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 718.5 | 696.6 | 465.3 | 438.9 | 0 | 0 |
| Deferred Tax Liabilities | 21.5 | 20.6 | 16.8 | 10.7 | 9.3 | 6.5 | 4.9 | 4.2 | 2.5 | 2.4 |
| Other Non-Current Liabilities | 52.4 | 30.6 | 21.3 | 18.1 | 23.3 | 32.3 | 6.7 | 33.9 | 574.6 | 571.9 |
| Total Non-Current Liabilities | 272.3 | 178.1 | 180.9 | 187.1 | 894.1 | 917.6 | 650.8 | 484.7 | 36.9 | 577.1 |
| Total Liabilities | 2,311.7 | 2,010.0 | 1,841.6 | 2,395.4 | 2,265.8 | 2,010.8 | 1,344.8 | 1,001.1 | 410.7 | 850.2 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (1,856.5) | (1,287.3) | (1,670.2) | (1,598.7) | (1,438.2) | (1,380.5) | (1,137.2) | (928.8) | (743.6) | (450.0) |
| Accumulated Other Comprehensive Income | (3.7) | (28.4) | (19.4) | (23.0) | (4.8) | 5.0 | (1.7) | (2.0) | 3.4 | (2.7) |
| Total Stockholders' Equity | 1,917.8 | 2,002.7 | 1,129.7 | 617.3 | 275.5 | 325.7 | 546.3 | 614.4 | 209.3 | (347.4) |
| Total Liabilities & Equity | 4,229.6 | 4,012.7 | 2,971.3 | 3,012.7 | 2,541.3 | 2,336.5 | 1,891.1 | 1,615.4 | 620.0 | 502.9 |
| Debt Metrics | ||||||||||
| Total Debt | 185.1 | 124.4 | 143.1 | 888.3 | 882.2 | 915.8 | 648.5 | 438.9 | 0 | 0 |
| Net Debt | (417.3) | (524.2) | (654.0) | 166.4 | 373.2 | 349.7 | 407.3 | (78.9) | (256.9) | (190.6) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 309.1 | 1,067.9 | 74.0 | (97.5) | (70.0) | (243.3) | (208.4) | (426.5) | (52.3) | (115.4) |
| Depreciation & Amortization | 116.1 | 107.8 | 95.1 | 86.3 | 81.9 | 71.1 | 50.2 | 38.0 | 31.8 | 28.5 |
| Stock-Based Compensation | 622.3 | 610.3 | 616.8 | 538.7 | 408.5 | 286.9 | 206.4 | 411.0 | 29.7 | 35.4 |
| Change in Working Capital | (162.6) | (191.7) | (37.0) | (255.7) | (101.6) | 72.2 | (47.6) | 6.1 | 18.3 | 26.1 |
| Other Non-Cash Items | 275.4 | 262.9 | 224.3 | 233.2 | 186.2 | 112.5 | 113.8 | 52.4 | 28.5 | 20.6 |
| Operating Cash Flow | 1,165.0 | 1,017.3 | 979.5 | 506.8 | 506.5 | 297.0 | 115.7 | 76.1 | 55.0 | (4.8) |
| Investing Activities | ||||||||||
| Capital Expenditure | (106.4) | (97.0) | (92.4) | (77.7) | (61.4) | (82.4) | (72.0) | (30.4) | (18.9) | (43.3) |
| Acquisitions | 0 | (143.6) | 0 | 0 | (6.4) | (180.4) | 0 | (218.8) | 0.2 | 0.7 |
| Purchases of Investments | (410.3) | (412.6) | (336.9) | (537.5) | (385.9) | (173.5) | (876.8) | (415.1) | 0 | 0 |
| Sales/Maturities of Investments | 390.0 | 340.3 | 473.9 | 423.9 | 290.8 | 517.5 | 627.3 | 0 | 0 | 1.8 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (126.8) | (312.9) | 44.6 | (191.2) | (162.9) | 81.2 | (321.5) | (664.3) | (18.8) | (40.9) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (21.4) | 0 | (727.0) | (0.0) | (77.9) | 293.2 | 0 | 560.8 | 0 | 0 |
| Stock Repurchased | (869.1) | (683.5) | (145.5) | (63.0) | 0 | 0 | 0 | 0 | 0 | (0.1) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (251.4) | (213.3) | (120.5) | (84.4) | (386.5) | (406.3) | (166.5) | (287.2) | (0.7) | 0 |
| Financing Cash Flow | (1,099.9) | (838.8) | (946.0) | (98.3) | (394.6) | (59.0) | (70.5) | 853.1 | 25.7 | 8.0 |
| Cash Position | ||||||||||
| Net Change in Cash | (46.7) | (141.9) | 78.3 | 213.5 | (56.7) | 324.9 | (276.7) | 260.7 | 66.2 | (38.0) |
| Cash at Beginning | 649.6 | 801.5 | 723.2 | 509.7 | 566.3 | 241.5 | 518.2 | 257.4 | 191.2 | 229.2 |
| Cash at End | 602.9 | 659.6 | 801.5 | 723.2 | 509.7 | 566.3 | 241.5 | 518.2 | 257.4 | 191.2 |
| Free Cash Flow | 1,058.6 | 920.3 | 887.1 | 429.1 | 445.1 | 214.6 | 43.6 | 45.7 | 36.0 | (48.1) |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 3,219.5 | 2,976.7 | 2,761.9 | 2,515.9 | 2,107.2 | 1,453.0 | 974.0 | 701.0 | 518.5 | 381.5 |
| Gross Profit | 2,556.4 | 2,355.1 | 2,189.3 | 1,979.8 | 1,640.8 | 1,089.0 | 730.7 | 508.5 | 400.2 | 279.0 |
| Operating Income | 298.6 | 199.9 | 31.6 | (88.0) | (61.9) | (173.9) | (193.5) | (426.3) | (51.7) | (115.8) |
| Net Income | 309.1 | 1,067.9 | 74.0 | (97.5) | (70.0) | (243.3) | (208.4) | (426.5) | (52.3) | (115.4) |
| EPS (Diluted) | 1.48 | 5.08 | 0.36 | -0.49 | -0.36 | -1.31 | -1.18 | -3.16 | -1.62 | -4.12 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 602.4 | 648.6 | 797.1 | 721.9 | 509.1 | 566.1 | 241.2 | 517.8 | 256.9 | 190.6 |
| Total Assets | 4,229.6 | 4,012.7 | 2,971.3 | 3,012.7 | 2,541.3 | 2,336.5 | 1,891.1 | 1,615.4 | 620.0 | 502.9 |
| Total Debt | 185.1 | 124.4 | 143.1 | 888.3 | 882.2 | 915.8 | 648.5 | 438.9 | 0 | 0 |
| Stockholders' Equity | 1,917.8 | 2,002.7 | 1,129.7 | 617.3 | 275.5 | 325.7 | 546.3 | 614.4 | 209.3 | (347.4) |
| Cash Flow | ||||||||||
| Operating Cash Flow | 1,165.0 | 1,017.3 | 979.5 | 506.8 | 506.5 | 297.0 | 115.7 | 76.1 | 55.0 | (4.8) |
| Capital Expenditure | (106.4) | (97.0) | (92.4) | (77.7) | (61.4) | (82.4) | (72.0) | (30.4) | (18.9) | (43.3) |
| Free Cash Flow | 1,058.6 | 920.3 | 887.1 | 429.1 | 445.1 | 214.6 | 43.6 | 45.7 | 36.0 | (48.1) |