DocuSign, Inc.DOCU
NasdaqGS•Technology•Software - Application
DocuSign, Inc. provides electronic signature solution in the United States and internationally. The company offers AI-powered intelligent agreement management (IAM) platform to optimize the gain intelligence and automation across the entire agreement lifecycle; and provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; and Document Generation streamlines the process of generating new, custom agreements. It also provides Identify, a signer-identification option for checking government-issued IDs; Standards-Based Signatures, which support signatures that involve digital certificates; Monitor that uses advanced analytics; Notary which enables notaries public to conduct remote online notarization transactions; and Web Forms. In addition, the company offers Real Estate for eSignature that provides a way for brokers and agents to manage the entire real estate transaction digitally. eSignature and CLM are Federal Risk and Authorization Management Program (FedRAMP), an authorized version of DocuSign eSignature for U.S. federal government agencies; and life sciences modules that support compliance with the electronic signature practices. The company sells its products through direct and partner-assisted sales, and digital self-service purchasing. DocuSign, Inc. was incorporated in 2003 and is headquartered in San Francisco, California.
DocuSign, Inc. (DOCU) reported trailing twelve months revenue of $3.22B as of January 2026, a 8.2% increase year-over-year. Quarterly revenue reached $836.86M, reflecting continued top-line momentum.
DocuSign, Inc. generated $309.08M in TTM net income, with quarterly EBITDA of $114.17M. The operating margin expanded from 7.8% to 10.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (10.5%) and net margin (10.8%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 10.8% a year ago, signaling stronger bottom-line efficiency.
DOCU trades at a P/E of 34.1x (a premium multiple) and a P/S of 3.3x. The price-to-book ratio of 5.5x indicates a significant premium over book value.
The company generated $350.20M in free cash flow over the trailing twelve months, a 25.3% increase year-over-year, indicating strong cash generation ability. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~8.0% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE averages 33.0% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~14.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~9.2% — no sign of cost or pricing stress.
FCF covers net income by 3.4x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.6% — net buybacks are reducing shares outstanding and boosting per-share value.