NASDAQ : DOCU
DocuSign, Inc. — Financial statements
Technology · Software - Application · United States
Last price 83.375 USD (Oct 30, 2026, 9:55 AM EDT) · Market cap 15.58B
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Financial statements
DocuSign, Inc. (DOCU) reported revenue of 3.36B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 3.36B | 3.22B | 2.98B | 2.76B | 2.52B | 2.11B |
| Cost of Revenue | 685.39M | 657.57M | 617.75M | 569.64M | 532.81M | 431.58M |
| Gross Profit | 2.68B | 2.56B | 2.36B | 2.19B | 1.98B | 1.68B |
| Selling, General & Admin | 1.61B | 1.59B | 1.53B | 1.59B | 1.56B | 1.33B |
| Research & Development | 659.08M | 664.99M | 588.46M | 539.49M | 480.58M | 393.36M |
| Other Operating Expenses | 4.08M | 5.50M | 3.91M | 2.26M | 2.18M | 7.52M |
| Operating Expenses | 2.27B | 2.26B | 2.12B | 2.13B | 2.04B | 1.73B |
| Operating Income | 402.03M | 298.58M | 233.99M | 62.74M | -58.61M | -56.78M |
| Interest Expense | -2.36M | -2.55M | -1.55M | -6.84M | -6.39M | -6.44M |
| Interest & Investment Income | 40.14M | 51.30M | 49.56M | 68.91M | 8.23M | |
| Other Non Operating Income (Expenses) | -3.86M | |||||
| EBT Excluding Unusual Items | 439.81M | 347.33M | 282.00M | 124.80M | -56.77M | -67.08M |
| Merger & Restructuring Charges | -34.06M | -30.38M | -28.34M | |||
| Gain (Loss) on Sale of Investments | -22.00K | -3.69M | 5.27M | |||
| Asset Writedown | -721.00K | -1.09M | -5.10M | |||
| Pretax Income | 439.81M | 347.33M | 247.94M | 93.68M | -89.88M | -66.91M |
| Income Tax Expense | 109.87M | 38.24M | -819.94M | 19.70M | 7.57M | 3.06M |
| Net Income | 329.94M | 309.08M | 1.07B | 73.98M | -97.45M | -69.98M |
| Net Income to Common | 329.94M | 309.08M | 1.07B | 73.98M | -97.45M | -69.98M |
| Shares Outstanding (Basic) | 197.27M | 202.08M | 204.33M | 204.07M | 200.90M | 196.68M |
| Shares Outstanding (Diluted) | 200.56M | 209.12M | 210.34M | 208.95M | 200.90M | 196.68M |
| EPS (Basic) | 1.67 | 1.53 | 5.23 | 0.36 | -0.49 | -0.36 |
| EPS (Diluted) | 1.64 | 1.48 | 5.08 | 0.36 | -0.49 | -0.36 |
| Free Cash Flow | 1.20B | 1.06B | 920.28M | 887.13M | 429.11M | 445.07M |
| Free Cash Flow Per Share | 5.97 | 5.06 | 4.38 | 4.25 | 2.14 | 2.26 |
| Gross Margin | 79.61% | 79.58% | 79.25% | 79.38% | 78.82% | 79.52% |
| Operating Margin | 11.96% | 9.27% | 7.86% | 2.27% | -2.33% | -2.70% |
| Profit Margin | 9.82% | 9.60% | 35.87% | 2.68% | -3.87% | -3.32% |
| Free Cash Flow Margin | 35.65% | 32.88% | 30.92% | 32.12% | 17.06% | 21.12% |
| EBITDA | 441.65M | 338.16M | 286.59M | 122.70M | 7.95M | 14.83M |
| EBITDA Margin | 13.14% | 10.50% | 9.63% | 4.44% | 0.32% | 0.70% |
| D&A For EBITDA | 39.63M | 39.58M | 52.60M | 59.96M | 66.56M | 71.61M |
| EBIT | 402.03M | 298.58M | 233.99M | 62.74M | -58.61M | -56.78M |
| EBIT Margin | 11.96% | 9.27% | 7.86% | 2.27% | -2.33% | -2.70% |
| Effective Tax Rate | 24.98% | 11.01% | 21.03% | |||
| Revenue as Reported | 3.22B | 3.22B | 2.98B | 2.76B | 2.52B | 2.11B |
| Advertising Expenses | 74.50M | 79.00M | 95.00M | 128.30M | 115.70M |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 528.16M | 602.44M | 648.62M | 797.06M | 721.89M | 509.06M |
| Short-Term Investments | 249.52M | 264.08M | 314.92M | 248.40M | 309.77M | 293.76M |
| Cash & Short-Term Investments | 777.68M | 866.53M | 963.55M | 1.05B | 1.03B | 802.82M |
| Receivables | 378.08M | 527.21M | 443.35M | 455.22M | 529.35M | 453.54M |
| Prepaid Expenses | 113.13M | 96.62M | 81.42M | 65.62M | 65.46M | 59.63M |
| Restricted Cash | 481.00K | 952.00K | 1.33M | 37.00K | 280.00K | |
| Other Current Assets | 31.00K | 4.49M | 3.32M | |||
| Total Current Assets | 1.27B | 1.49B | 1.49B | 1.57B | 1.63B | 1.32B |
| Property, Plant & Equipment | 575.13M | 527.39M | 409.00M | 368.36M | 341.38M | 310.69M |
| Long-Term Investments | 195.40M | 223.49M | 148.81M | 135.18M | 198.55M | 107.34M |
| Goodwill | 458.37M | 458.45M | 454.48M | 353.14M | 353.62M | 355.06M |
| Other Intangible Assets | 51.92M | 61.39M | 76.39M | 50.91M | 70.28M | 98.82M |
| Long-Term Deferred Tax Assets | 764.33M | 835.25M | 840.47M | 2.03M | ||
| Long-Term Deferred Charges | 468.81M | 585.23M | 550.80M | 474.43M | 400.40M | 334.44M |
| Other Long-Term Assets | 177.94M | 47.52M | 43.50M | 19.58M | 17.48M | 15.34M |
| Total Assets | 3.96B | 4.23B | 4.01B | 2.97B | 3.01B | 2.54B |
| Accounts Payable | 21.87M | 17.42M | 30.70M | 19.03M | 24.39M | 52.80M |
| Accrued Expenses | 360.09M | 374.20M | 326.69M | 299.30M | 264.12M | 251.54M |
| Current Portion of Long-Term Debt | 722.89M | |||||
| Current Portion of Leases | 15.52M | 16.62M | 19.08M | 22.23M | 24.05M | 37.40M |
| Current Unearned Revenue | 1.58B | 1.63B | 1.46B | 1.32B | 1.17B | 1.03B |
| Total Current Liabilities | 1.97B | 2.04B | 1.83B | 1.66B | 2.21B | 1.37B |
| Long-Term Debt | 718.49M | |||||
| Long-Term Leases | 167.58M | 168.50M | 105.35M | 120.82M | 141.35M | 126.34M |
| Long-Term Unearned Revenue | 28.82M | 29.96M | 21.52M | 21.98M | 16.93M | 16.73M |
| Long-Term Deferred Tax Liabilities | 20.96M | 21.51M | 20.60M | 16.80M | 10.72M | 9.32M |
| Other Long-Term Liabilities | 51.87M | 52.36M | 30.63M | 21.33M | 18.11M | 23.25M |
| Total Liabilities | 2.24B | 2.31B | 2.01B | 1.84B | 2.40B | 2.27B |
| Common Stock | 19.00K | 20.00K | 20.00K | 21.00K | 20.00K | 20.00K |
| Additional Paid-In Capital | 4.05B | 3.78B | 3.32B | 2.82B | 2.24B | 1.72B |
| Retained Earnings | -2.33B | -1.86B | -1.29B | -1.67B | -1.60B | -1.44B |
| Treasury Stock | -2.87M | -2.16M | -1.78M | -1.53M | ||
| Comprehensive Income & Other | -7.84M | -3.71M | -28.38M | -19.36M | -23.00M | -4.81M |
| Total Common Equity | 1.72B | 1.92B | 2.00B | 1.13B | 617.29M | 275.50M |
| Shareholders' Equity | 1.72B | 1.92B | 2.00B | 1.13B | 617.29M | 275.50M |
| Total Liabilities & Equity | 3.96B | 4.23B | 4.01B | 2.97B | 3.01B | 2.54B |
| Total Debt | 183.10M | 185.12M | 124.43M | 143.05M | 888.29M | 882.23M |
| Net Cash (Debt) | 594.58M | 681.41M | 839.12M | 902.41M | 143.38M | -79.41M |
| Net Cash Per Share | 2.96 | 3.26 | 3.99 | 4.32 | 0.71 | -0.40 |
| Filing Date Shares Outstanding | 186.90M | 194.43M | 202.46M | 205.40M | 201.89M | 198.86M |
| Total Common Shares Outstanding | 188.18M | 197.76M | 202.48M | 205.31M | 201.89M | 198.83M |
| Working Capital | -704.14M | -548.57M | -342.65M | -92.95M | -577.32M | -52.04M |
| Book Value Per Share | 9.13 | 9.70 | 9.89 | 5.50 | 3.06 | 1.39 |
| Tangible Book Value | 1.21B | 1.40B | 1.47B | 725.70M | 193.39M | -178.37M |
| Tangible Book Value Per Share | 6.42 | 7.07 | 7.27 | 3.53 | 0.96 | -0.90 |
| Machinery | 80.82M | 146.50M | 153.85M | 160.44M | 159.77M | 148.74M |
| Construction In Progress | 100.25M | 130.09M | 106.27M | 102.19M | 62.97M | 43.84M |
| Leasehold Improvements | 81.60M | 66.83M | 64.01M | 58.23M | 73.42M | 79.81M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 329.94M | 309.08M | 1.07B | 73.98M | -97.45M | -69.98M |
| Depreciation & Amortization | 39.63M | 39.58M | 52.60M | 59.96M | 66.56M | 71.61M |
| Other Amortization | 356.94M | 348.34M | 292.97M | 240.01M | 209.72M | 159.84M |
| Stock-Based Compensation | 606.17M | 622.32M | 610.34M | 616.85M | 538.73M | 408.54M |
| Other Operating Activities | 98.24M | 26.57M | -814.81M | 25.70M | 44.92M | 38.06M |
| Change in Accounts Receivable | -19.32M | -91.74M | 2.08M | 71.68M | -75.96M | -117.38M |
| Change in Accounts Payable | 5.20M | -15.15M | 7.64M | -4.83M | -26.44M | 12.15M |
| Change in Unearned Revenue | 140.34M | 177.20M | 129.85M | 152.25M | 143.18M | 250.48M |
| Change in Other Net Operating Assets | -233.42M | -251.21M | -331.28M | -256.07M | -296.48M | -246.86M |
| Operating Cash Flow | 1.32B | 1.17B | 1.02B | 979.53M | 506.76M | 506.47M |
| Capital Expenditures | -125.44M | -106.44M | -96.99M | -92.39M | -77.65M | -61.40M |
| Cash Acquisitions | -143.61M | -6.39M | ||||
| Investment in Securities | 7.91M | -20.34M | -72.28M | 137.00M | -113.54M | -95.12M |
| Investing Cash Flow | -117.53M | -126.78M | -312.88M | 44.61M | -191.20M | -162.91M |
| Long-Term Debt Repaid | -726.98M | -16.00K | -77.91M | |||
| Total Debt Repaid | -726.98M | -16.00K | -77.91M | |||
| Net Debt Issued (Repaid) | -726.98M | -16.00K | -77.91M | |||
| Issuance of Common Stock | 41.70M | 42.03M | 58.02M | 46.98M | 49.20M | 69.81M |
| Repurchase of Common Stock | -1.32B | -1.14B | -896.81M | -289.73M | -147.44M | -386.52M |
| Other Financing Activities | -220.00K | -3.13M | 23.69M | |||
| Financing Cash Flow | -1.28B | -1.10B | -838.79M | -946.04M | -98.26M | -394.62M |
| Foreign Exchange Rate Adjustments | 5.57M | 20.27M | -7.55M | 199.00K | -3.78M | -5.59M |
| Net Cash Flow | -70.78M | -41.40M | -141.94M | 78.30M | 213.52M | -56.66M |
| Free Cash Flow | 1.20B | 1.06B | 920.28M | 887.13M | 429.11M | 445.07M |
| Free Cash Flow Margin | 35.65% | 32.88% | 30.92% | 32.12% | 17.06% | 21.12% |
| Free Cash Flow Per Share | 5.97 | 5.06 | 4.38 | 4.25 | 2.14 | 2.26 |
| Levered Free Cash Flow | 1.31B | 1.20B | 1.18B | 1.11B | 741.30M | 705.65M |
| Unlevered Free Cash Flow | 1.31B | 1.20B | 1.18B | 1.11B | 740.32M | 704.58M |
| Cash Interest Paid | 185.00K | 185.00K | 349.00K | |||
| Cash Income Tax Paid | 15.76M | 12.95M | 24.32M | 10.46M | 10.42M | 6.94M |
| Change in Working Capital | -107.19M | -180.90M | -191.71M | -36.97M | -255.70M | -101.61M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 15.26B | 10.52B | 19.54B | 12.42B | 12.19B | 24.89B |
| Enterprise Value | 14.67B | 9.83B | 18.73B | 11.67B | 12.06B | 24.97B |
| Last Close Price | 81.65 | 52.54 | 96.73 | 60.92 | 60.64 | 125.77 |
| PE Ratio | 49.67 | 34.04 | 18.30 | 167.92 | ||
| Forward PE | 16.72 | 13.14 | 26.54 | 21.91 | 29.11 | 61.48 |
| PS Ratio | 4.54 | 3.27 | 6.57 | 4.50 | 4.85 | 11.81 |
| PB Ratio | 8.94 | 5.49 | 9.76 | 11.00 | 19.75 | 90.33 |
| P/TBV Ratio | 12.63 | 7.53 | 13.28 | 17.12 | 63.05 | |
| P/FCF Ratio | 12.74 | 9.94 | 21.23 | 14.00 | 28.41 | 55.92 |
| P/OCF Ratio | 11.53 | 9.03 | 19.21 | 12.68 | 24.06 | 49.14 |
| PEG Ratio | 1.14 | 0.69 | 0.95 | 0.77 | 2.12 | 1.34 |
| EV/Sales Ratio | 4.36 | 3.05 | 6.29 | 4.22 | 4.79 | 11.85 |
| EV/EBITDA Ratio | 33.21 | 29.08 | 65.35 | 95.09 | 1,516.61 | 1,683.99 |
| EV/EBIT Ratio | 36.48 | 32.93 | 80.05 | 185.98 | ||
| EV/FCF Ratio | 12.24 | 9.29 | 20.35 | 13.15 | 28.09 | 56.10 |
| Debt / Equity Ratio | 0.11 | 0.10 | 0.06 | 0.13 | 1.44 | 3.20 |
| Debt / EBITDA Ratio | 0.39 | 0.51 | 0.40 | 0.95 | 21.59 | 17.92 |
| Debt / FCF Ratio | 0.15 | 0.17 | 0.14 | 0.16 | 2.07 | 1.98 |
| Net Debt / Equity Ratio | -0.35 | -0.35 | -0.42 | -0.80 | -0.23 | 0.29 |
| Net Debt / EBITDA Ratio | -1.35 | -2.02 | -2.93 | -7.36 | -18.04 | 5.36 |
| Net Debt / FCF Ratio | -0.50 | -0.64 | -0.91 | -1.02 | -0.33 | 0.18 |
| Asset Turnover | 0.85 | 0.78 | 0.85 | 0.92 | 0.91 | 0.86 |
| Quick Ratio | 0.59 | 0.68 | 0.77 | 0.90 | 0.71 | 0.92 |
| Current Ratio | 0.64 | 0.73 | 0.81 | 0.94 | 0.74 | 0.96 |
| Return on Equity (ROE) | 17.80% | 15.77% | 68.18% | 8.47% | -21.83% | -23.28% |
| Return on Assets (ROA) | 6.35% | 4.53% | 4.19% | 1.31% | -1.32% | -1.46% |
| Return on Invested Capital (ROIC) | 26.08% | 22.14% | 33.65% | 14.13% | -14.14% | -13.80% |
| Return on Capital Employed (ROCE) | 20.20% | 13.60% | 10.70% | 4.80% | -7.30% | -4.90% |
| Earnings Yield | 2.01% | 2.94% | 5.46% | 0.60% | -0.80% | -0.28% |
| FCF Yield | 7.85% | 10.06% | 4.71% | 7.14% | 3.52% | 1.79% |
| Buyback Yield / Dilution | 5.17% | 0.58% | -0.66% | -4.00% | -2.15% | -5.88% |