NYSE : DV
DoubleVerify Holdings, Inc. — Financial statements
Communication Services · Advertising Agencies · United States
Last price 13.57 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.10B
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Financial statements
DoubleVerify Holdings, Inc. (DV) reported revenue of 785.84M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 785.84M | 748.29M | 656.85M | 572.54M | 452.42M | 332.74M |
| Cost of Revenue | 140.13M | 133.50M | 116.52M | 106.63M | 77.87M | 54.38M |
| Gross Profit | 645.71M | 614.79M | 540.33M | 465.91M | 374.55M | 278.36M |
| Selling, General & Admin | 298.67M | 299.17M | 259.15M | 212.62M | 184.57M | 155.59M |
| Research & Development | 177.88M | 178.44M | 153.05M | 125.38M | 95.12M | 62.70M |
| Operating Expenses | 541.19M | 534.19M | 457.41M | 378.88M | 314.02M | 248.57M |
| Operating Income | 104.52M | 80.60M | 82.92M | 87.03M | 60.53M | 29.78M |
| Interest Expense | -1.94M | -1.73M | -1.12M | -1.07M | -905.00K | -1.17M |
| Interest & Investment Income | 909.00K | 4.58M | 12.74M | 10.84M | 2.31M | 11.00K |
| Currency Exchange Gain (Loss) | -832.00K | 670.00K | -5.32M | -855.00K | -1.10M | 102.00K |
| Other Non Operating Income (Expenses) | -1.40M | -8.00K | 68.00K | 37.00K | 46.00K | 253.00K |
| EBT Excluding Unusual Items | 101.25M | 84.11M | 89.29M | 95.98M | 60.88M | 28.98M |
| Merger & Restructuring Charges | 266.00K | -1.40M | -500.00K | -1.30M | -3.10M | |
| Asset Writedown | -1.51M | |||||
| Other Unusual Items | 1.19M | -57.00K | ||||
| Pretax Income | 101.52M | 82.71M | 88.79M | 95.88M | 59.37M | 25.82M |
| Income Tax Expense | 36.93M | 32.06M | 32.56M | 24.41M | 16.10M | -3.49M |
| Net Income | 64.59M | 50.65M | 56.23M | 71.47M | 43.27M | 29.31M |
| Net Income to Common | 64.59M | 50.65M | 56.23M | 71.47M | 43.27M | 29.31M |
| Shares Outstanding (Basic) | 157.78M | 162.78M | 170.51M | 167.80M | 163.88M | 148.31M |
| Shares Outstanding (Diluted) | 161.72M | 166.68M | 175.08M | 173.44M | 170.75M | 160.26M |
| EPS (Basic) | 0.41 | 0.31 | 0.33 | 0.43 | 0.26 | 0.20 |
| EPS (Diluted) | 0.39 | 0.30 | 0.32 | 0.41 | 0.25 | 0.18 |
| Free Cash Flow | 167.18M | 172.65M | 132.51M | 102.73M | 54.88M | 73.35M |
| Free Cash Flow Per Share | 1.03 | 1.04 | 0.76 | 0.59 | 0.32 | 0.46 |
| Gross Margin | 82.17% | 82.16% | 82.26% | 81.38% | 82.79% | 83.66% |
| Operating Margin | 13.30% | 10.77% | 12.62% | 15.20% | 13.38% | 8.95% |
| Profit Margin | 8.22% | 6.77% | 8.56% | 12.48% | 9.56% | 8.81% |
| Free Cash Flow Margin | 21.27% | 23.07% | 20.17% | 17.94% | 12.13% | 22.05% |
| EBITDA | 153.86M | 121.88M | 118.33M | 120.61M | 89.36M | 56.37M |
| EBITDA Margin | 19.58% | 16.29% | 18.02% | 21.07% | 19.75% | 16.94% |
| D&A For EBITDA | 49.34M | 41.28M | 35.41M | 33.59M | 28.83M | 26.59M |
| EBIT | 104.52M | 80.60M | 82.92M | 87.03M | 60.53M | 29.78M |
| EBIT Margin | 13.30% | 10.77% | 12.62% | 15.20% | 13.38% | 8.95% |
| Effective Tax Rate | 36.38% | 38.76% | 36.67% | 25.46% | 27.12% | |
| Advertising Expenses | 300.00K | 200.00K | 100.00K | 100.00K | 100.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 250.85M | 259.04M | 292.82M | 310.13M | 267.81M | 221.59M |
| Short-Term Investments | 17.80M | |||||
| Cash & Short-Term Investments | 250.85M | 259.04M | 310.62M | 310.13M | 267.81M | 221.59M |
| Receivables | 228.01M | 221.16M | 226.22M | 206.94M | 167.12M | 122.94M |
| Prepaid Expenses | 41.79M | 39.13M | 22.17M | 15.80M | 10.04M | 8.76M |
| Restricted Cash | 33.00K | 126.00K | 125.00K | 134.00K | ||
| Other Current Assets | 14.40M | |||||
| Total Current Assets | 520.65M | 519.33M | 559.05M | 533.00M | 445.10M | 367.82M |
| Property, Plant & Equipment | 191.14M | 170.19M | 137.92M | 118.49M | 111.73M | 17.57M |
| Goodwill | 511.08M | 516.00M | 427.62M | 436.01M | 343.01M | 350.56M |
| Other Intangible Assets | 81.30M | 101.62M | 110.36M | 140.88M | 135.43M | 153.40M |
| Long-Term Deferred Tax Assets | 29.71M | 30.92M | 35.49M | 13.08M | 35.00K | 60.00K |
| Long-Term Deferred Charges | 1.60M | 2.00M | 800.00K | 1.10M | ||
| Other Long-Term Assets | 16.05M | 14.42M | 3.78M | 1.57M | 931.00K | 1.68M |
| Total Assets | 1.35B | 1.35B | 1.28B | 1.24B | 1.04B | 892.19M |
| Accounts Payable | 14.86M | 14.66M | 11.60M | 12.93M | 6.67M | 3.85M |
| Accrued Expenses | 62.57M | 79.15M | 62.43M | 52.66M | 39.28M | 41.46M |
| Current Portion of Leases | 21.17M | 16.04M | 13.56M | 11.96M | 8.89M | 1.97M |
| Current Income Taxes Payable | 1.74M | 3.83M | 15.59M | 5.83M | 11.95M | 1.32M |
| Current Unearned Revenue | 5.50M | 400.00K | ||||
| Other Current Liabilities | 10.69M | 2.38M | -100.00K | 463.00K | 2.11M | 8.43M |
| Total Current Liabilities | 111.04M | 121.56M | 103.48M | 83.86M | 68.91M | 57.03M |
| Long-Term Leases | 87.19M | 83.51M | 78.11M | 74.43M | 74.86M | 2.58M |
| Long-Term Deferred Tax Liabilities | 11.24M | 11.47M | 8.51M | 8.12M | 12.89M | 30.31M |
| Other Long-Term Liabilities | 7.07M | 6.21M | 2.65M | 2.69M | 3.50M | 3.21M |
| Total Liabilities | 216.54M | 222.75M | 192.75M | 169.09M | 160.17M | 93.13M |
| Common Stock | 177.00K | 177.00K | 174.00K | 171.00K | 165.00K | 162.00K |
| Additional Paid-In Capital | 1.08B | 1.06B | 974.38M | 878.33M | 756.30M | 717.23M |
| Retained Earnings | 341.12M | 305.86M | 255.21M | 198.98M | 127.52M | 84.25M |
| Treasury Stock | -297.86M | -247.98M | -131.62M | -743.00K | -796.00K | -1.80M |
| Comprehensive Income & Other | 7.30M | 13.34M | -14.69M | -2.80M | -6.33M | -771.00K |
| Total Common Equity | 1.13B | 1.13B | 1.08B | 1.07B | 876.86M | 799.07M |
| Shareholders' Equity | 1.13B | 1.13B | 1.08B | 1.07B | 876.86M | 799.07M |
| Total Liabilities & Equity | 1.35B | 1.35B | 1.28B | 1.24B | 1.04B | 892.19M |
| Total Debt | 108.36M | 99.55M | 91.67M | 86.39M | 83.75M | 4.55M |
| Net Cash (Debt) | 142.49M | 159.49M | 218.96M | 223.74M | 184.06M | 217.04M |
| Net Cash Per Share | 0.88 | 0.96 | 1.25 | 1.29 | 1.08 | 1.35 |
| Filing Date Shares Outstanding | 156.21M | 161.99M | 166.01M | 171.25M | 165.54M | 162.65M |
| Total Common Shares Outstanding | 156.19M | 161.90M | 167.07M | 171.15M | 165.42M | 162.30M |
| Working Capital | 409.61M | 397.76M | 455.57M | 449.15M | 376.19M | 310.79M |
| Book Value Per Share | 7.26 | 6.99 | 6.49 | 6.27 | 5.30 | 4.92 |
| Tangible Book Value | 541.01M | 513.71M | 545.48M | 497.05M | 398.42M | 295.11M |
| Tangible Book Value Per Share | 3.46 | 3.17 | 3.27 | 2.90 | 2.41 | 1.82 |
| Machinery | 18.91M | 14.70M | 10.38M | 9.43M | 7.68M | |
| Leasehold Improvements | 39.44M | 36.76M | 32.59M | 29.68M | 9.35M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 64.59M | 50.65M | 56.23M | 71.47M | 43.27M | 29.31M |
| Depreciation & Amortization | 49.34M | 41.28M | 35.41M | 33.59M | 28.83M | 26.59M |
| Other Amortization | 15.73M | 15.73M | 10.24M | 7.59M | 5.79M | 26.07M |
| Loss (Gain) From Sale of Assets | 101.00K | 5.00K | 1.35M | |||
| Asset Writedown & Restructuring Costs | 1.51M | |||||
| Stock-Based Compensation | 100.36M | 104.23M | 90.66M | 59.24M | 42.31M | 21.89M |
| Provision & Write-off of Bad Debts | 3.85M | 3.19M | 4.99M | 10.07M | 5.03M | -711.00K |
| Other Operating Activities | -3.60M | 13.04M | -11.09M | -18.95M | -12.05M | -6.97M |
| Change in Accounts Receivable | -15.43M | 6.45M | -26.70M | -43.69M | -49.77M | -22.00M |
| Change in Accounts Payable | 1.53M | 2.31M | -1.07M | 5.48M | 2.88M | -49.00K |
| Change in Other Net Operating Assets | -7.25M | -25.80M | 985.00K | -5.06M | 25.70M | 8.64M |
| Operating Cash Flow | 209.11M | 211.18M | 159.66M | 119.74M | 94.86M | 82.75M |
| Capital Expenditures | -41.93M | -38.53M | -27.15M | -17.01M | -39.98M | -9.40M |
| Cash Acquisitions | -82.58M | -67.24M | -149.22M | |||
| Investment in Securities | 17.75M | -17.69M | ||||
| Other Investing Activities | -1.02M | -2.02M | ||||
| Investing Cash Flow | -42.95M | -105.38M | -44.84M | -84.25M | -39.98M | -158.61M |
| Short-Term Debt Issued | 50.00M | |||||
| Total Debt Issued | 50.00M | |||||
| Short-Term Debt Repaid | -50.00M | |||||
| Long-Term Debt Repaid | -4.55M | -2.48M | -2.31M | -1.92M | -23.92M | |
| Total Debt Repaid | -7.44M | -4.55M | -2.48M | -52.31M | -1.92M | -23.92M |
| Net Debt Issued (Repaid) | -7.44M | -4.55M | -2.48M | -2.31M | -1.92M | -23.92M |
| Issuance of Common Stock | 3.56M | 3.34M | 6.85M | 13.39M | 7.54M | 312.23M |
| Repurchase of Common Stock | -111.66M | -142.73M | -133.82M | -4.59M | -10.24M | -1.80M |
| Other Financing Activities | -3.25M | -22.12M | ||||
| Financing Cash Flow | -115.53M | -143.95M | -129.45M | 6.49M | -7.88M | 264.39M |
| Foreign Exchange Rate Adjustments | -520.00K | 4.44M | -1.89M | 338.00K | -784.00K | -200.00K |
| Net Cash Flow | 50.10M | -33.71M | -16.52M | 42.32M | 46.21M | 188.33M |
| Free Cash Flow | 167.18M | 172.65M | 132.51M | 102.73M | 54.88M | 73.35M |
| Free Cash Flow Margin | 21.27% | 23.07% | 20.17% | 17.94% | 12.13% | 22.05% |
| Free Cash Flow Per Share | 1.03 | 1.04 | 0.76 | 0.59 | 0.32 | 0.46 |
| Levered Free Cash Flow | 106.33M | 175.74M | 152.77M | 103.42M | 48.13M | 67.93M |
| Unlevered Free Cash Flow | 107.11M | 176.39M | 153.02M | 103.79M | 48.40M | 68.37M |
| Cash Interest Paid | 1.27M | 1.20M | 479.00K | 714.00K | 554.00K | 774.00K |
| Cash Income Tax Paid | 58.94M | 60.90M | 41.90M | 60.90M | 12.35M | 7.70M |
| Change in Working Capital | -21.16M | -17.04M | -26.78M | -43.28M | -21.18M | -13.41M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.12B | 1.84B | 3.25B | 6.25B | 3.62B | 5.28B |
| Enterprise Value | 1.98B | 1.75B | 2.98B | 6.08B | 3.46B | 4.96B |
| Last Close Price | 13.56 | 11.44 | 19.21 | 36.78 | 21.96 | 33.28 |
| PE Ratio | 34.47 | 36.39 | 57.79 | 87.48 | 83.68 | 180.08 |
| Forward PE | 12.06 | 10.80 | 19.39 | 50.69 | 40.42 | 73.40 |
| PS Ratio | 2.70 | 2.46 | 4.95 | 10.92 | 8.00 | 15.86 |
| PB Ratio | 1.87 | 1.63 | 3.00 | 5.82 | 4.13 | 6.61 |
| P/TBV Ratio | 3.92 | 3.59 | 5.96 | 12.58 | 9.09 | 17.88 |
| P/FCF Ratio | 12.67 | 10.68 | 24.52 | 60.86 | 65.97 | 71.95 |
| P/OCF Ratio | 10.13 | 8.73 | 20.35 | 52.21 | 38.17 | 63.78 |
| PEG Ratio | 0.77 | 0.72 | 1.14 | 1.81 | 0.98 | 2.77 |
| EV/Sales Ratio | 2.51 | 2.33 | 4.54 | 10.62 | 7.65 | 14.92 |
| EV/EBITDA Ratio | 12.84 | 14.32 | 25.19 | 50.42 | 38.75 | 88.05 |
| EV/EBIT Ratio | 18.90 | 21.66 | 35.95 | 69.88 | 57.20 | 166.64 |
| EV/FCF Ratio | 11.82 | 10.11 | 22.50 | 59.20 | 63.09 | 67.66 |
| Debt / Equity Ratio | 0.10 | 0.09 | 0.09 | 0.08 | 0.10 | 0.01 |
| Debt / EBITDA Ratio | 0.61 | 0.74 | 0.70 | 0.66 | 0.83 | 0.08 |
| Debt / FCF Ratio | 0.65 | 0.58 | 0.69 | 0.84 | 1.53 | 0.06 |
| Net Debt / Equity Ratio | -0.13 | -0.14 | -0.20 | -0.21 | -0.21 | -0.27 |
| Net Debt / EBITDA Ratio | -0.93 | -1.31 | -1.85 | -1.85 | -2.06 | -3.85 |
| Net Debt / FCF Ratio | -0.85 | -0.92 | -1.65 | -2.18 | -3.35 | -2.96 |
| Asset Turnover | 0.59 | 0.57 | 0.52 | 0.50 | 0.47 | 0.47 |
| Quick Ratio | 4.31 | 3.95 | 5.19 | 6.17 | 6.31 | 6.04 |
| Current Ratio | 4.69 | 4.27 | 5.40 | 6.36 | 6.46 | 6.45 |
| Return on Equity (ROE) | 5.85% | 4.57% | 5.21% | 7.33% | 5.16% | 4.82% |
| Return on Assets (ROA) | 4.94% | 3.83% | 4.11% | 4.77% | 3.92% | 2.65% |
| Return on Invested Capital (ROIC) | 6.69% | 5.38% | 6.12% | 8.41% | 6.92% | 6.00% |
| Return on Capital Employed (ROCE) | 8.40% | 6.50% | 7.10% | 7.50% | 6.30% | 3.60% |
| Earnings Yield | 2.90% | 2.75% | 1.73% | 1.14% | 1.20% | 0.56% |
| FCF Yield | 7.89% | 9.37% | 4.08% | 1.64% | 1.52% | 1.39% |
| Buyback Yield / Dilution | 4.14% | 4.79% | -0.95% | -1.57% | -6.55% | -10.19% |