Tearsheet
Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. DOCU Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Docusign (DOCU)

Market Price (9/17/2025): $81.8 | Market Cap: $16.6 Bil
Sector: Information Technology | Industry: Application Software

Docusign (DOCU)

Market Price (9/17/2025): $81.8
Market Cap: $16.6 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%		 Weak multi-year price returns
3Y Excs Rtn is -35%		 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%
1 Attractive yield
FCF Yield is 5.7%		  
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
1 Attractive yield
FCF Yield is 5.7%
2 Weak multi-year price returns
3Y Excs Rtn is -35%
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%

Market Valuation

 9/17/25202420232022
Share Price CYE$81.80$89.94$59.45$55.42
Market Cap CYE ($ Bil)16.618.312.211.2
Total Debt ($ Bil)0.10.10.10.9
Total Cash ($ Bil)0.81.01.01.0
Enterprise Value ($ Bil)15.918.412.312.1
Valuation Ratios    
P/S TTM5.46.24.44.4
P/EBIT TTM56.873.7120.7-133.3
P/E TTM59.017.2164.0-114.2
Sector Ratios    
P/S TTM (Sector)3.23.12.82.5
P/EBIT TTM (Sector)4.0-0.0-0.1-0.5
P/E TTM (Sector)-0.4-0.3-0.4-0.5
 9/17/252024
Share Price CYE$81.80$89.94
Market Cap CYE ($ Bil)16.618.3
Total Debt ($ Bil)0.10.1
Total Cash ($ Bil)0.81.0
Enterprise Value ($ Bil)15.918.4
Valuation Ratios  
P/S TTM5.46.2
P/EBIT TTM56.873.7
P/E TTM59.017.2
Sector Ratios  
P/S TTM (Sector)3.23.1
P/EBIT TTM (Sector)4.0-0.0
P/E TTM (Sector)-0.4-0.3

Market Cap Chart

Business Description

DocuSign, Inc. provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
DOCU Return200%-31%-64%7%51%-9%8%
Peers Return52%20%-10%77%16%-2%234%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ADBE, PANW, CDNS, FICO, DBX. See DOCU Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Better Bets than Docusign (DOCU)

 DOCUBetter Performance than DOCU
MetricValueIndustry (Application Software)
Rev Chg LTM8.3%ORCL (8.4%), PLTR (38.8%), SAP (10.3%), CRM (8.3%), SHOP (29.0%)
Rev Chg 3Y Avg9.8%ORCL (10.7%), PLTR (25.7%), CRM (10.5%), SHOP (26.0%), INTU (14.0%)
Op Mgn LTM7.9%ORCL (31.5%), PLTR (16.6%), SAP (25.9%), CRM (21.2%), SHOP (15.3%)
CFO/Rev LTM33.6%ORCL (36.3%), PLTR (50.3%), ADBE (42.5%), CDNS (33.7%), FICO (38.5%)
FCF/Rev LTM30.2%PLTR (49.7%), CRM (31.6%), INTU (32.3%), ADBE (41.8%), CDNS (31.1%)
Total Yield1.7%ORCL (2.0%), SAP (2.2%), CRM (3.4%), INTU (2.8%), ADBE (4.5%)
 DOCUBetter Performance than DOCU
MetricValueAll Other Sectors
Rev Chg LTM8.3%GOOGL (13.1%), AMZN (10.9%), META (19.4%), LLY (36.8%), V (11.4%)
Rev Chg 3Y Avg9.8%GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%)
Op Mgn LTM7.9%GOOGL (32.7%), AMZN (11.4%), META (42.9%), LLY (43.0%), V (66.5%)
CFO/Rev LTM33.6%GOOGL (36.0%), META (56.4%), V (60.4%), MA (53.3%), MCD (37.6%)
FCF/Rev LTM30.2%META (30.7%), V (56.8%), MA (49.2%), ABBV (31.3%), RY (131.7%)
Total Yield1.7%GOOGL (4.1%), AMZN (2.8%), META (3.6%), BRK-B (5.9%), JPM (6.6%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Docusign Earnings Notes  
2DOCU's 15% Single Month Rise Brings Valuations Into Focus - Is ORCL a Better Deal?Counter-Intuitive Comparisons 
3DOCU Shares Rally 18% In A Month: How Does the Competition Measure Up?Peer Comparison 
4Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From ACAD, CALM   
5DOCU Dip Buy Analysis  
6Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From Sector Peers AMD, RPD Actionable 
7Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From Sector Peers AMD, COHR Better Bets 
8Docusign Total Shareholder Return (TSR): 58.8% in 2025 and -8.4% 3-yr compounded annual returns (below peer average)  
9Docusign (DOCU) Operating Cash Flow ComparisonFinancials 
10Docusign (DOCU) Net Income ComparisonFinancials 
11ARTICLES  
12Big Move for DOCU, but Do ORCL’s Margins and Growth Give It the Edge? September 10th, 2025
13DOCU Looks Cheap, But Is It a Value Trap or Treasure? August 21st, 2025
14How DOCU Stock Might React To Upcoming Earnings? March 10th, 2025
15DocuSign Stock Is Down 60% From Highs, Should You Buy Now? February 7th, 2022
16Remote Working Is Here To Stay. Should You Buy DocuSign Stock? December 1st, 2021
Title
0DASHBOARDS
1Big Move for DOCU, but Do ORCL’s Margins and Growth Give It the Edge?
2DOCU Looks Cheap, But Is It a Value Trap or Treasure?
3How DOCU Stock Might React To Upcoming Earnings?
4DocuSign Stock Is Down 60% From Highs, Should You Buy Now?
5Remote Working Is Here To Stay. Should You Buy DocuSign Stock?
6ARTICLES
7Docusign Earnings Notes
8DOCU's 15% Single Month Rise Brings Valuations Into Focus - Is ORCL a Better Deal?
9DOCU Shares Rally 18% In A Month: How Does the Competition Measure Up?
10Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From ACAD, CALM 
11DOCU Dip Buy Analysis
12Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From Sector Peers AMD, RPD 
13Better Bet Than DOCU Stock: Pay Less Than Docusign To Get More From Sector Peers AMD, COHR 
14Docusign Total Shareholder Return (TSR): 58.8% in 2025 and -8.4% 3-yr compounded annual returns (below peer average)
15Docusign (DOCU) Operating Cash Flow Comparison
16Docusign (DOCU) Net Income Comparison

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
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3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
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4LNZALanzaTech Global7287.5%-86.0%
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8ENTOEntero Therapeutics565.6%117.6%
9PTNMPitanium553.2% 
10WLDSWearable Devices449.5%-30.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-92.2%-95.0%
2STFSStar Fashion Culture-92.2%-97.8%
3ELPWElong Power-91.6%-76.7%
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5NAKAKindly MD-89.0% 
6BINIBollinger Innovations-88.9%-100.0%
7JEM707 Cayman-88.4%-98.2%
8YAASYouxin Technology-82.5%-98.3%
9NEONNeonode-82.0%-50.2%
10NVNOenVVeno Medical-81.5%-69.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Docusign

Financials

DOCUADBEPANWCDNSFICODBXMedian
NameDocusign Adobe Palo Alt.Cadence .Fair Isa.Dropbox  
Mkt Price81.71352.73201.34349.011,553.5432.17275.18
Mkt Cap16.6151.0135.394.737.98.866.3
Rev LTM3,09522,6019,2225,0891,8402,5334,092
Op Inc LTM2458,2211,2431,5628135711,028
FCF LTM9369,4373,4701,5856778921,260
FCF 3Y Avg8017,7433,0671,2215288231,022
CFO LTM1,0409,6153,7161,7167099021,378
CFO 3Y Avg8958,0203,2501,3525448461,123

Growth & Margins

DOCUADBEPANWCDNSFICODBXMedian
NameDocusign Adobe Palo Alt.Cadence .Fair Isa.Dropbox  
Rev Chg LTM8.3%10.6%14.9%22.3%14.7%-0.0%12.7%
Rev Chg 3Y Avg9.8%10.6%18.9%15.8%10.9%4.1%10.8%
Rev Chg Q8.8%10.6%15.8%20.2%15.0%-1.4%12.8%
QoQ Delta Rev Chg LTM2.1%2.6%3.9%4.4%3.7%-0.3%3.1%
Op Mgn LTM7.9%36.4%13.5%30.7%44.2%22.5%26.6%
Op Mgn 3Y Avg4.7%35.1%9.2%29.3%42.5%18.6%24.0%
QoQ Delta Op Mgn LTM0.1%0.1%2.4%0.2%1.2%1.8%0.7%
CFO/Rev LTM33.6%42.5%40.3%33.7%38.5%35.6%37.1%
CFO/Rev 3Y Avg30.9%39.1%40.4%30.9%33.2%33.9%33.5%
FCF/Rev LTM30.2%41.8%37.6%31.1%36.8%35.2%36.0%
FCF/Rev 3Y Avg27.7%37.7%38.1%27.9%32.3%32.9%32.6%

Valuation

DOCUADBEPANWCDNSFICODBXMedian
NameDocusign Adobe Palo Alt.Cadence .Fair Isa.Dropbox  
Mkt Cap16.6151.0135.394.737.98.866.3
P/S5.36.714.718.620.63.510.7
P/EBIT56.717.784.762.346.315.451.5
P/E58.922.0119.393.665.718.162.3
P/CFO15.915.736.455.253.59.726.2
Total Yield1.7%4.5%0.8%1.1%1.5%5.5%1.6%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg6.5%3.9%2.9%1.6%1.6%10.4%3.4%
D/E0.00.00.00.00.10.30.0
Net D/E-0.00.0-0.0-0.00.10.20.0

Returns

DOCUADBEPANWCDNSFICODBXMedian
NameDocusign Adobe Palo Alt.Cadence .Fair Isa.Dropbox  
1M Rtn15.2%-0.6%13.7%-0.2%15.7%15.6%14.5%
3M Rtn9.2%-7.8%-0.4%16.7%-12.6%11.1%4.4%
6M Rtn-3.9%-9.9%10.0%37.5%-14.3%21.9%3.0%
12M Rtn44.0%-32.4%16.3%27.8%-18.0%29.3%22.1%
3Y Rtn44.4%17.8%131.3%112.5%233.4%48.2%80.4%
1M Excs Rtn12.8%-3.0%11.3%-2.7%13.2%13.2%12.0%
3M Excs Rtn-1.5%-21.7%-7.9%6.5%-23.9%2.8%-4.7%
6M Excs Rtn-18.5%-28.1%-7.6%20.4%-32.3%6.0%-13.0%
12M Excs Rtn26.6%-57.9%-1.4%11.2%-34.6%14.5%4.9%
3Y Excs Rtn-34.8%-73.1%51.5%37.4%181.4%-21.0%8.2%

Comparison Analyses

Financials

$ Mil | FY: 1/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
Period End7/31/20254/30/20251/31/202510/31/20247/31/20244/30/20241/31/202410/31/20237/31/20234/30/20231/31/202310/31/2022
Filing Date9/5/20256/6/20253/18/202512/6/20249/6/20246/7/20243/21/202412/8/20239/7/20236/8/20233/27/202312/8/2022
Key Financials Quarterly            
Total Revenue801764776755736710712700688661660645
Ebitda1061059710099615561493027-5
Operating Income6560605958521020724-01
Net Income63728362888342739715-30
EPS0.310.350.410.314.340.160.130.190.040.000.02-0.15
Key Financials TTM            
Total Revenue TTM3,0953,0312,9772,9132,8582,8102,7622,7092,6542,5892,5162,437
Ebitda TTM407401357315277226196167101335-29
Operating Income TTM24523823017914190625232-16-60-85
Net Income TTM2811,1061,0681,0129881077452-17-70-97-133
Growth Rates Quarterly            
Total Revenue Growth8.8%7.6%9.0%7.8%7.0%7.3%8.0%8.5%10.5%12.3%13.6%18.3%
EBITDA Growth6.8%70.9%76.1%64.0%101.7%101.1%107.6%1295.8%360.3%1368.0%476.4%-130.2%
Operating Income Growth11.7%16.4%503.3%188.7%686.7%114.6%32432.3%3041.0%118.1%225.5%99.9%119.4%
Net Income Growth-92.9%113.5%206.5%60.9%11911.0%6163.5%460.2%229.9%116.4%102.0%116.0%-426.2%
Margins Quarterly            
EBITDA Margin13.3%13.7%12.5%13.2%13.5%8.6%7.7%8.7%7.2%4.6%4.0%-0.8%
Operating Income Margin8.1%7.9%7.8%7.8%7.9%7.3%1.4%2.9%1.1%3.6%-0.0%0.1%
Net Income Margin7.9%9.4%10.8%8.3%120.7%4.8%3.8%5.5%1.1%0.1%0.7%-4.6%
Cash & Debt            
Total Cash8449499649429381,0871,0451,5901,4441,2911,032975
Total Debt127133124131136138143835879883888838
Net Debt / (Cash)-718-816-839-812-803-948-902-755-565-408-143-138
Cash Flows Quarterly            
FCF from Operations24625130823422025527126421123413753
Cash Flows TTM            
FCF from Operations TTM1,0401,0141,0179801,0101,001980846634544507457
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases202183162173200149-0753040-038
Return on Invested Capital (ROIC) Quarterly            
ROIC7.7%9.1%9.9%8.6%10.4%9.7%1.9%4.3%0.5%0.5%-0.0%0.1%
Return on Invested Capital (ROIC) TTM            
ROIC TTM8.5%9.2%9.4%7.5%6.2%3.9%2.6%2.0%1.7%-0.8%-2.9%-4.4%

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Single segment2,7622,516   
Professional services and other  707256
Subscription  2,0371,381918
Total2,7622,5162,1071,453974


Net Income by Segment
$ Mil20252024202320222021
Single segment74-97   
Total74-97   


Assets by Segment
$ Mil20252024202320222021
Single segment2,971    
Total2,971    


Price Behavior

DOCU Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.791.810.821.301.271.55
Up Beta2.341.83-0.471.251.121.40
Down Beta0.481.061.541.361.201.65
Up Capture182%162%36%115%196%466%
Bmk +ve Days10223571142415
Stock +ve Days11213164127376
Down Capture217%259%206%130%122%107%
Bmk -ve Days11192754106334
Stock -ve Days10203161120371

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,666,763
Short Interest: % Change Since 81520254.5%
Average Daily Volume1,977,064
Days-to-Cover Short Interest3.37
Basic Shares Quantity202,644,000
Short % of Basic Shares3.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/4/20254.7%5.2% 
6/5/2025-19.0%-18.2%-14.3%
3/13/202514.8%13.9%-0.5%
12/5/202427.9%13.0%5.5%
9/5/20244.0%-0.8%12.1%
6/6/2024-4.7%-6.3%-4.9%
12/7/20234.8%18.3%18.2%
9/7/2023-3.7%-13.8%-19.2%
...
SUMMARY STATS   
# Positive1198
# Negative101213
Median Positive8.7%10.5%15.2%
Median Negative-8.6%-8.1%-12.9%
Max Positive27.9%24.8%43.2%
Max Negative-42.2%-36.1%-32.9%

SEC Filings

Expand for More

Report DateFiling DateFiling
7312025905202510-Q 7/31/2025
4302025606202510-Q 4/30/2025
1312025318202510-K 1/31/2025
103120241206202410-Q 10/31/2024
7312024906202410-Q 7/31/2024
4302024607202410-Q 4/30/2024
1312024321202410-K 1/31/2024
103120231208202310-Q 10/31/2023
7312023907202310-Q 7/31/2023
4302023608202310-Q 4/30/2023
1312023327202310-K 1/31/2023
103120221208202210-Q 10/31/2022
7312022908202210-Q 7/31/2022
4302022609202210-Q 4/30/2022
1312022325202210-K 1/31/2022
103120211206202110-Q 10/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0GRAYSON BLAKE JEFFREYChief Financial Officer7022025Sell77.2810,270793,6667,763,008Form
1Thygesen Allan C.President and CEO7022025Sell77.2620,6851,598,12312,616,403Form
2Shaughnessy James PChief Legal Officer7022025Sell77.276,739520,7234,062,702Form
3Chatwani RobertPresident General Mgr, Growth6182025Sell74.661,04578,0207,014,755Form
4GRAYSON BLAKE JEFFREYChief Financial Officer6182025Sell74.7013,208986,6388,415,553Form

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