DocuSign, Inc. (DOCU) Key Metrics
DOCU valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $13.95B
- Enterprise value
- $12.39B
- P/E (TTM)
- 45.5 10-yr median 34.8
- Forward P/E
- 15.1
- PEG ratio
- 0.81
- Price / sales
- 4.2 10-yr median 8.2
- Price / book
- 7.6 10-yr median 15.5
- EV / EBITDA
- 21.9 10-yr median 54.6
- Dividend yield
- —
- Beta
- 0.86
DOCU key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsDOCU valuation Price multiples at each fiscal year-end price.
DOCU returns How much profit the business earns on the capital it uses.
DOCU per-share figures Results divided by the shares outstanding at year-end.
DOCU financial health Debt, liquidity and how easily interest is covered.
DOCU efficiency & capital use Working capital cycle and where the cash goes.
DOCU valuation history
DOCU returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DOCU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DOCU cash returned to shareholders
DOCU price vs earnings per share
DOCU key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.75B | $20.35B | $12.73B | $12.18B | $24.74B | $43.26B | $13.87B | $6.68B | — | — |
| Enterprise value | $10.07B | $19.51B | $11.83B | $12.04B | $24.82B | $43.40B | $13.87B | $6.46B | — | — |
| P/E ratio | 34.8 | 19.1 | 172.1 | — | — | — | — | — | — | — |
| Price / sales | 3.3 | 6.8 | 4.6 | 4.8 | 11.7 | 29.8 | 14.2 | 9.5 | — | — |
| Price / book | 5.6 | 10.2 | 11.3 | 19.7 | 89.8 | 132.8 | 25.4 | 10.9 | — | — |
| Price / free cash flow | 10.2 | 22.1 | 14.3 | 28.4 | 55.6 | 201.6 | 317.8 | 146.3 | — | — |
| Price / operating cash flow | 9.2 | 20.0 | 13.0 | 24.0 | 48.8 | 145.7 | 119.9 | 87.8 | — | — |
| EV / sales | 3.1 | 6.6 | 4.3 | 4.8 | 11.8 | 29.9 | 14.2 | 9.2 | — | — |
| EV / EBITDA | 22.3 | 54.6 | 60.5 | — | — | — | — | — | — | — |
| EV / free cash flow | 9.5 | 21.2 | 13.3 | 28.1 | 55.8 | 202.3 | 317.6 | 141.3 | — | — |
| Earnings yield | 2.9% | 5.2% | 0.6% | −0.8% | −0.3% | −0.6% | −1.5% | −6.4% | — | — |
| Free cash flow yield | 9.8% | 4.5% | 7.0% | 3.5% | 1.8% | 0.5% | 0.3% | 0.7% | — | — |
| Dividend yield | — | — | — | — | 1.3% | 0.7% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 8.1% | 3.4% | 1.1% | 0.5% | 2.8% | 1.6% | 1.2% | 1.0% | — | — |
| Share price at fiscal year-end | $52.54 | $96.73 | $60.92 | $60.64 | $125.77 | $232.89 | $78.51 | $49.45 | — | — |
| Per share | ||||||||||
| Revenue per share | $15.73 | $14.15 | $13.22 | $12.52 | $10.71 | $7.82 | $5.51 | $5.19 | $4.01 | $2.72 |
| Earnings per share | $1.51 | $5.08 | $0.35 | −$0.49 | −$0.36 | −$1.31 | −$1.18 | −$3.16 | −$0.40 | −$0.82 |
| Operating cash flow per share | $5.69 | $4.84 | $4.69 | $2.52 | $2.58 | $1.60 | $0.65 | $0.56 | $0.43 | −$0.03 |
| Free cash flow per share | $5.17 | $4.38 | $4.25 | $2.14 | $2.26 | $1.16 | $0.25 | $0.34 | $0.28 | −$0.34 |
| Cash per share | $4.24 | $4.58 | $5.00 | $5.14 | $4.08 | $4.16 | $3.71 | $5.69 | $1.99 | $1.36 |
| Book value per share | $9.37 | $9.52 | $5.41 | $3.07 | $1.40 | $1.75 | $3.09 | $4.55 | $1.62 | −$2.48 |
| Tangible book value per share | $6.83 | $7.00 | $3.47 | $0.96 | −$0.91 | −$0.79 | $1.67 | $2.55 | $1.22 | −$2.90 |
| Dividends per share | — | — | — | — | $1.61 | $1.71 | — | — | — | — |
| Capex per share | $0.52 | $0.46 | $0.44 | $0.39 | $0.31 | $0.44 | $0.41 | $0.23 | $0.15 | $0.31 |
| Debt per share | $0.90 | $0.59 | $0.68 | $4.42 | $4.49 | $4.93 | $3.67 | $4.00 | $0.53 | $0.40 |
| Shares outstanding | 204.7M | 210.3M | 208.9M | 200.9M | 196.7M | 185.8M | 176.7M | 135.2M | 129.2M | 140.1M |
| Change in shares outstanding | −2.7% | +0.7% | +4.0% | +2.1% | +5.9% | +5.1% | +30.7% | +4.6% | −7.8% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.8% | 68.2% | 8.5% | −21.8% | −23.3% | −55.8% | −35.9% | −103.6% | — | — |
| Return on invested capital (ROIC) | 22.1% | 28.7% | 7.1% | −16.8% | −11.9% | −27.3% | −33.1% | −165.6% | — | — |
| Return on assets (ROA) | 7.5% | 30.6% | 2.5% | −3.5% | −2.9% | −11.5% | −11.9% | −38.2% | −9.3% | −23.3% |
| Return on tangible assets | 8.3% | 30.7% | 2.9% | −3.8% | −3.4% | −13.0% | −12.7% | −31.7% | −9.2% | −26.0% |
| Free cash flow margin | 32.9% | 30.9% | 32.1% | 17.1% | 21.1% | 14.8% | 4.5% | 6.5% | 7.0% | −12.6% |
| Income quality (OCF / net income) | 3.77 | 0.95 | 13.24 | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $185.1M | $124.4M | $143.1M | $888.3M | $882.2M | $915.8M | $648.5M | $540.7M | $68.3M | $56.0M |
| Cash & short-term investments | $867.0M | $963.5M | $1.05B | $1.03B | $802.8M | $773.5M | $656.1M | $769.0M | $256.9M | $190.6M |
| Net debt | −$681.9M | −$839.1M | −$902.4M | −$143.4M | $79.4M | $142.2M | −$7.7M | −$228.3M | −$188.5M | −$134.5M |
| Debt / equity | 0.10 | 0.06 | 0.13 | 1.44 | 3.20 | 2.81 | 1.19 | 0.88 | 0.33 | — |
| Debt / assets | 0.04 | 0.03 | 0.05 | 0.29 | 0.35 | 0.39 | 0.34 | 0.33 | 0.11 | 0.11 |
| Net debt / EBITDA | −1.51 | −2.35 | −4.61 | −51.89 | 3.70 | — | — | — | — | — |
| Current ratio | 0.73 | 0.81 | 0.94 | 0.74 | 0.96 | 1.06 | 1.36 | 1.91 | 1.12 | 1.16 |
| Quick ratio | 0.73 | 0.81 | 0.94 | 0.74 | 0.96 | 1.06 | 1.36 | 1.91 | 1.08 | 1.11 |
| Interest coverage | 117.3 | 129.0 | 4.6 | -13.8 | -9.6 | -5.6 | -6.6 | -39.3 | -82.8 | -189.6 |
| Working capital | −$548.6M | −$342.6M | −$93.0M | −$577.3M | −$52.0M | $69.2M | $249.9M | $468.2M | $45.0M | $44.2M |
| Invested capital | $1.24B | $1.16B | $227.3M | $473.9M | $354.9M | $468.0M | $538.7M | $386.0M | $20.8M | −$481.9M |
| Tangible asset value | $1.40B | $1.47B | $725.7M | $193.4M | −$178.4M | −$146.2M | $294.9M | $344.9M | $157.8M | −$406.1M |
| Net current asset value | −$820.9M | −$520.8M | −$273.9M | −$764.4M | −$946.2M | −$848.4M | −$400.9M | −$16.5M | $8.1M | −$532.9M |
| Graham number | $17.84 | $32.98 | $6.56 | — | — | — | — | — | — | — |
| Graham net-net per share | −$5.13 | −$3.39 | −$2.18 | −$4.81 | −$5.71 | −$5.29 | −$2.83 | −$0.69 | −$0.33 | −$4.11 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $316.7M | $318.3M | — | — | — | — |
| Share buybacks (net) | $869.1M | $683.5M | $145.5M | $63.0M | $386.5M | $372.5M | $166.5M | $67.6M | $0 | $85,000 |
| Dividends + buybacks / free cash flow | 82.1% | 74.3% | 16.4% | 14.7% | 158.0% | 321.9% | 381.5% | 147.9% | 0.0% | — |
| Capex / revenue | 3.3% | 3.3% | 3.3% | 3.1% | 2.9% | 5.7% | 7.4% | 4.3% | 3.7% | 11.4% |
| Capex / operating cash flow | 9.1% | 9.5% | 9.4% | 15.3% | 12.1% | 27.7% | 62.3% | 40.0% | 34.4% | — |
| Capex / depreciation | 0.92 | 0.90 | 0.97 | 0.90 | 0.75 | 1.16 | 1.44 | 0.80 | 0.60 | 1.52 |
| Stock-based compensation / revenue | 19.3% | 20.5% | 22.3% | 21.4% | 19.4% | 19.7% | 21.2% | 58.6% | 5.7% | 9.3% |
| R&D / revenue | 20.7% | 19.8% | 19.5% | 19.1% | 18.7% | 18.7% | 19.1% | 26.5% | 17.8% | 23.5% |
| SG&A / revenue | 49.5% | 51.6% | 57.5% | 62.0% | 62.1% | 68.2% | 75.8% | 106.8% | 69.3% | 80.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 55.0 | 55.1 | 65.1 | 71.3 | 68.8 | 74.2 | 81.6 | 84.1 | 84.5 | 87.3 |
| Days of inventory on hand | — | — | 0.0 | 0.0 | — | — | 0.5 | 16.1 | 49.6 | 52.0 |
| Days payables outstanding | 13.2 | 14.6 | 13.8 | 26.3 | 35.3 | 32.8 | 35.8 | 41.1 | 66.0 | 57.8 |
| Cash conversion cycle (days) | 41.8 | 40.5 | 51.2 | 45.0 | 33.5 | 41.4 | 46.3 | 59.2 | 68.1 | 81.5 |
| Receivables turnover | 6.63 | 6.63 | 5.61 | 5.12 | 5.31 | 4.92 | 4.47 | 4.34 | 4.32 | 4.18 |
| Payables turnover | 27.56 | 25.00 | 26.37 | 13.89 | 10.35 | 11.11 | 10.19 | 8.89 | 5.53 | 6.31 |
| Inventory turnover | — | — | 381,747,333.33 | 268,044,000.00 | — | — | 751.88 | 22.64 | 7.36 | 7.01 |
| Asset turnover | 0.78 | 0.85 | 0.92 | 0.91 | 0.86 | 0.69 | 0.56 | 0.63 | 0.92 | 0.77 |
| Average receivables | $485.3M | $449.3M | $492.3M | $491.4M | $397.0M | $295.4M | $217.8M | $161.6M | $120.0M | $91.2M |
| Average payables | $24.1M | $24.9M | $21.7M | $38.6M | $45.1M | $32.8M | $23.9M | $21.7M | $21.4M | $16.2M |
| Average inventory | — | — | $2 | $2 | — | — | $323,500 | $8.5M | $16.1M | $14.6M |
| Intangibles / total assets | 12.3% | 13.2% | 13.6% | 14.1% | 17.9% | 20.2% | 13.3% | 16.7% | 8.3% | 11.7% |
Computed from DOCU's annual financial statements (latest annual report filed March 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DOCU valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), DocuSign traded at 34.8 times earnings, against a 10-year median of 34.8. Based on the latest twelve months, the trailing P/E is 45.5 and the forward P/E is 15.1. DocuSign earned a return on equity of 15.8% and a return on invested capital of 22.1% in fiscal 2026. It ended the year with $185.1 million of debt and $867.0 million in cash and short-term investments, a net cash position of $681.9 million. It returned $869.1 million to shareholders: $0 in dividends and $869.1 million in share buybacks, 82% of free cash flow. The share count rose 46.1% from 140.1M to 204.7M over 9 years.
See the DOCU income statement, the DOCU chart for price history, or the DOCU stock overview for the latest quote and news.
DOCU key metrics FAQ
What is DocuSign's P/E ratio?
DocuSign's trailing P/E ratio is 45.5 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 15.1. At the end of fiscal 2026 it was 34.8, compared with a 10-year median of 34.8.
What is DocuSign's EV/EBITDA?
DocuSign's enterprise value was 22.3 times EBITDA at the end of fiscal 2026 (enterprise value $10.1 billion, EBITDA $451.6 million); the current EV/EBITDA is 21.9.
What is DocuSign's return on equity?
DocuSign's return on equity (ROE) was 15.8% in fiscal 2026: net income of $309.1 million on average shareholders' equity of $2.0 billion.
What is DocuSign's ROIC?
DocuSign's return on invested capital was 22.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does DocuSign have?
DocuSign had total debt of $185.1 million at the end of fiscal 2026, a debt-to-equity ratio of 0.10 and more cash than debt.
Does DocuSign buy back its shares?
Yes. DocuSign spent $869.1 million on net share repurchases in fiscal 2026 Shares outstanding changed −2.7% over the year, to 204.7M..
What is DocuSign's free cash flow yield?
DocuSign generated $1.1 billion of free cash flow in fiscal 2026, a free cash flow yield of 9.8% on its market value at year-end ($10.8 billion).
What is DocuSign's current ratio?
DocuSign's current ratio was 0.73 at the end of fiscal 2026: current assets were 0.73 times current liabilities.