DocuSign (DOCU) Financials

$74.35 +1.13 (+1.54%)

Closing price 04/11/2025 04:00 PM Eastern

Extended Trading

$74.33 -0.02 (-0.03%)

As of 04/11/2025 07:56 PM Eastern

Annual Income Statements for DocuSign

This table shows DocuSign's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Net Income / (Loss) Attributable to Common Shareholders	-115	-52	-426	-208	-243	-70	-97	74	1,068
Consolidated Net Income / (Loss)	-115	-52	-426	-208	-243	-70	-97	74	1,068
Net Income / (Loss) Continuing Operations	-115	-52	-426	-208	-243	-70	-97	74	1,068
Total Pre-Tax Income	-115	-49	-428	-204	-229	-67	-90	94	248
Total Operating Income	-116	-52	-426	-194	-174	-62	-88	32	200
Total Gross Profit	279	400	509	731	1,089	1,641	1,980	2,189	2,355
Total Revenue	381	519	701	974	1,453	2,107	2,516	2,762	2,977
Operating Revenue	381	519	701	974	1,453	2,107	2,516	2,762	2,977
Total Cost of Revenue	102	118	192	243	364	466	536	573	622
Operating Cost of Revenue	102	118	192	243	364	466	536	573	622
Total Operating Expenses	395	452	935	924	1,263	1,703	2,068	2,158	2,155
Selling, General & Admin Expense	64	82	209	147	193	233	316	420	376
Marketing Expense	241	278	540	591	799	1,077	1,243	1,168	1,161
Research & Development Expense	90	92	186	186	272	393	481	539	588
Restructuring Charge	-	-	-	-	0.00	0.00	28	30	30
Total Other Income / (Expense), net	0.76	2.51	-1.89	-10	-56	-5.03	-1.85	62	48
Interest Expense	0.61	0.62	11	29	65	6.44	6.39	6.84	1.55
Other Income / (Expense), net	1.37	3.14	8.96	19	8.91	1.41	4.54	69	50
Income Tax Expense	0.36	3.13	-1.75	4.80	14	3.06	7.57	20	-820
Basic Earnings per Share	($4.17)	($1.66)	($3.16)	($1.18)	($1.31)	($0.36)	($0.49)	$0.36	$5.23
Weighted Average Basic Shares Outstanding	28.02M	32.29M	135.16M	176.70M	185.76M	196.68M	200.90M	204.07M	204.33M
Diluted Earnings per Share	($4.17)	($1.66)	($3.16)	($1.18)	($1.31)	($0.36)	($0.49)	$0.36	$5.08
Weighted Average Diluted Shares Outstanding	28.02M	32.29M	135.16M	176.70M	185.76M	196.68M	200.90M	208.95M	210.34M
Weighted Average Basic & Diluted Shares Outstanding	28.02M	32.29M	135.16M	176.70M	185.76M	198.87M	201.90M	205.42M	202.49M

This table shows DocuSign's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Net Income / (Loss) Attributable to Common Shareholders	-45	-30	4.86	0.54	7.40	39	27	34	888	62	83
Consolidated Net Income / (Loss)	-45	-30	4.86	0.54	7.40	39	27	34	888	62	83
Net Income / (Loss) Continuing Operations	-45	-30	4.86	0.54	7.40	39	27	34	888	62	83
Total Pre-Tax Income	-42	-28	5.43	5.63	22	36	30	37	72	72	68
Total Operating Income	-41	-27	-0.28	-4.65	6.61	20	9.94	23	58	59	60
Total Gross Profit	485	516	522	525	542	558	564	560	581	598	616
Total Revenue	622	645	660	661	688	700	712	710	736	755	776
Operating Revenue	622	645	660	661	688	700	712	710	736	755	776
Total Cost of Revenue	137	130	137	136	146	143	148	149	155	157	160
Operating Cost of Revenue	137	130	137	136	146	143	148	149	155	157	160
Total Operating Expenses	527	543	522	530	535	538	555	538	523	539	556
Selling, General & Admin Expense	76	86	92	105	104	108	103	92	87	98	99
Marketing Expense	324	314	305	281	295	292	300	282	287	291	301
Research & Development Expense	127	116	126	115	136	137	152	134	148	151	155
Total Other Income / (Expense), net	-0.63	-0.64	5.71	10	16	16	20	14	14	13	7.42
Interest Expense	1.63	1.46	1.65	1.97	1.59	1.58	1.71	0.14	0.54	0.46	0.40
Other Income / (Expense), net	1.00	0.82	7.37	12	17	18	22	14	15	13	7.82
Income Tax Expense	3.36	1.80	0.57	5.09	15	-2.97	2.50	2.83	-816	9.15	-16
Basic Earnings per Share	($0.22)	($0.15)	$0.02	$0.00	$0.04	$0.19	$0.13	$0.16	$4.34	$0.31	$0.42
Weighted Average Basic Shares Outstanding	200.62M	201.39M	200.90M	202.63M	203.70M	204.46M	204.07M	205.87M	204.60M	203.57M	204.33M
Diluted Earnings per Share	($0.22)	($0.15)	$0.02	$0.00	$0.04	$0.19	$0.13	$0.16	$4.26	$0.30	$0.36
Weighted Average Diluted Shares Outstanding	200.62M	201.39M	200.90M	208.07M	208.19M	208.05M	208.95M	209.90M	208.27M	208.71M	210.34M
Weighted Average Basic & Diluted Shares Outstanding	200.78M	201.07M	201.90M	202.37M	203.21M	203.93M	205.42M	204.72M	202.97M	202.02M	202.49M

This table details how cash moves in and out of DocuSign's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Net Change in Cash & Equivalents	-38	62	265	-277	325	-57	214	78	-142
Net Cash From Operating Activities	-4.79	55	76	116	297	506	507	980	1,017
Net Cash From Continuing Operating Activities	-4.79	55	76	116	297	506	505	980	1,017
Net Income / (Loss) Continuing Operations	-115	-52	-426	-208	-243	-70	-97	74	1,068
Consolidated Net Income / (Loss)	-115	-52	-426	-208	-243	-70	-97	74	1,068
Depreciation Expense	28	32	38	50	71	82	86	95	108
Amortization Expense	22	30	52	96	127	150	190	205	238
Non-Cash Adjustments To Reconcile Net Income	52	56	416	353	272	445	582	636	636
Changes in Operating Assets and Liabilities, net	7.54	-11	-3.08	-175	70	-100	-256	-31	-1,032
Net Cash From Investing Activities	-41	-19	-664	-321	81	-163	-191	45	-313
Net Cash From Continuing Investing Activities	-41	-19	-664	-321	81	-163	-191	45	-313
Purchase of Property, Plant & Equipment	-43	-19	-30	-72	-82	-61	-78	-92	-97
Acquisitions	0.00	0.00	0.00	0.00	-180	-6.39	0.00	0.00	-144
Purchase of Investments	0.00	-0.30	-634	-877	-174	-386	-537	-337	-413
Sale and/or Maturity of Investments	1.79	0.00	0.00	627	518	291	424	474	340
Net Cash From Financing Activities	8.04	26	853	-70	-59	-395	-98	-946	-839
Net Cash From Continuing Financing Activities	8.04	26	853	-70	-59	-395	-98	-946	-839
Repayment of Debt	-	-0.39	-0.25	24	-387	-78	-0.02	-727	0.00
Repurchase of Common Equity	0.00	-0.32	-4.01	-	0.00	0.00	-63	-146	-684
Issuance of Common Equity	0.00	0.00	529	-	-	46	37	33	35
Other Financing Activities, net	8.04	26	-233	-94	-380	-363	-72	-107	-191
Effect of Exchange Rate Changes	-	-	-	-	5.65	-5.59	-3.78	0.20	-7.55
Cash Interest Paid	0.60	0.60	0.20	2.85	78	0.35	0.19	0.19	0.00
Cash Income Taxes Paid	0.23	0.62	3.21	1.97	3.50	6.94	10	10	24

This table details how cash moves in and out of DocuSign's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Net Change in Cash & Equivalents	-0.77	-4.46	89	222	78	171	-392	21	-195	-7.27	39
Net Cash From Operating Activities	121	53	137	234	211	264	271	255	220	234	308
Net Cash From Continuing Operating Activities	121	53	135	234	208	268	271	255	220	234	308
Net Income / (Loss) Continuing Operations	-45	-30	4.86	0.54	7.40	39	27	34	888	62	83
Consolidated Net Income / (Loss)	-45	-30	4.86	0.54	7.40	39	27	34	888	62	83
Depreciation Expense	21	22	22	23	25	23	24	25	27	28	29
Amortization Expense	47	46	52	49	51	51	53	54	57	61	65
Non-Cash Adjustments To Reconcile Net Income	154	150	155	150	158	164	165	149	173	159	154
Changes in Operating Assets and Liabilities, net	-56	-135	-99	11	-34	-8.77	1.14	-6.64	-926	-76	-23
Net Cash From Investing Activities	-83	-1.84	-44	7.81	-65	34	67	-61	-176	-44	-32
Net Cash From Continuing Investing Activities	-83	-1.84	-44	7.81	-65	34	67	-61	-176	-44	-32
Purchase of Property, Plant & Equipment	-15	-16	-24	-19	-27	-24	-22	-23	-22	-24	-28
Purchase of Investments	-167	-107	-132	-54	-121	-29	-133	-120	-104	-110	-78
Sale and/or Maturity of Investments	99	122	112	81	83	88	222	82	94	90	75
Net Cash From Financing Activities	-35	-49	-16	-21	-69	-121	-735	-170	-239	-198	-232
Net Cash From Continuing Financing Activities	-35	-49	-16	-21	-69	-121	-735	-170	-239	-198	-232
Repurchase of Common Equity	-25	-38	-	-40	-30	-75	-	-149	-200	-173	-162
Other Financing Activities, net	-10	-23	-16	1.18	-39	-23	-45	-41	-39	-41	-70
Effect of Exchange Rate Changes	-2.86	-6.61	11	1.01	1.28	-7.19	5.10	-2.92	0.24	0.44	-5.31

This table presents DocuSign's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	620	1,615	1,891	2,337	2,541	3,013	2,971	4,013
Total Current Assets	419	985	944	1,162	1,320	1,631	1,568	1,489
Cash & Equivalents	257	518	241	566	509	722	797	649
Accounts Receivable	124	175	238	324	441	517	439	430
Prepaid Expenses	23	30	37	48	63	70	67	82
Other Current Assets	14	11	13	17	13	322	264	329
Plant, Property, & Equipment, net	63	76	128	165	185	200	245	299
Total Noncurrent Assets	138	555	819	1,009	1,037	1,182	1,158	2,224
Goodwill	37	195	195	350	355	354	353	454
Intangible Assets	14	74	57	122	99	70	51	76
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	2.03	840
Other Noncurrent Operating Assets	87	121	328	444	488	758	752	853
Total Liabilities & Shareholders' Equity	620	1,615	1,891	2,337	2,541	3,013	2,971	4,013
Total Liabilities	411	1,001	1,345	2,007	2,266	2,395	1,842	2,010
Total Current Liabilities	374	516	694	1,093	1,372	2,208	1,661	1,832
Accounts Payable	24	20	28	37	53	24	19	31
Accrued Expenses	16	36	54	67	91	101	104	100
Current Employee Benefit Liabilities	51	78	83	156	160	163	195	227
Other Current Liabilities	282	381	528	813	37	1,197	1,342	1,475
Total Noncurrent Liabilities	37	485	651	914	894	187	181	178
Noncurrent Deferred & Payable Income Tax Liabilities	2.51	4.21	4.92	6.46	9.32	11	17	21
Other Noncurrent Operating Liabilities	12	17	181	215	150	176	164	158
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-339	614	546	326	276	617	1,130	2,003
Total Preferred & Common Equity	-339	614	546	326	276	617	1,130	2,003
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-339	614	546	326	276	617	1,130	2,003
Common Stock	160	1,545	1,685	1,702	1,720	2,241	2,821	3,321
Retained Earnings	-502	-929	-1,137	-1,380	-1,438	-1,599	-1,670	-1,287
Treasury Stock	-	-	0.00	-1.05	-1.53	-1.79	-2.16	-2.87
Accumulated Other Comprehensive Income / (Loss)	3.40	-1.97	-1.67	4.96	-4.81	-23	-19	-28

This table presents DocuSign's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Total Assets	2,411	2,574	2,667	2,732	3,130	3,267	3,338	2,927	3,754	3,770
Total Current Assets	1,207	1,363	1,423	1,480	1,804	1,956	2,043	1,490	1,343	1,332
Cash & Equivalents	504	638	637	633	940	1,018	1,189	817	619	611
Accounts Receivable	306	301	340	423	409	415	360	306	310	300
Prepaid Expenses	68	81	79	69	87	81	73	85	82	75
Other Current Assets	15	13	9.39	356	368	442	421	282	333	345
Plant, Property, & Equipment, net	178	184	186	196	206	221	231	256	266	279
Total Noncurrent Assets	1,026	1,028	1,058	1,055	1,120	1,090	1,064	1,181	2,145	2,160
Goodwill	355	354	353	352	353	353	351	352	456	456
Intangible Assets	103	87	81	75	65	60	56	46	90	83
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	822	817
Other Noncurrent Operating Assets	478	492	491	627	701	676	657	782	777	804
Total Liabilities & Shareholders' Equity	2,411	2,574	2,667	2,732	3,130	3,267	3,338	2,927	3,754	3,770
Total Liabilities	2,171	2,225	2,260	2,263	2,380	2,420	2,373	1,790	1,793	1,781
Total Current Liabilities	1,260	1,344	1,402	1,450	2,195	2,234	2,189	1,605	1,607	1,599
Accounts Payable	48	26	44	47	15	5.80	15	18	8.12	18
Accrued Expenses	81	93	91	96	102	109	100	99	93	95
Current Employee Benefit Liabilities	145	138	150	146	142	162	159	154	179	159
Other Current Liabilities	975	1,087	43	1,123	1,213	1,231	1,226	1,334	1,327	1,327
Total Noncurrent Liabilities	911	881	858	814	185	186	183	185	185	182
Noncurrent Deferred & Payable Income Tax Liabilities	6.38	9.08	10	10	12	14	17	18	18	19
Other Noncurrent Operating Liabilities	185	153	112	118	173	172	166	167	167	163
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	240	349	407	469	749	848	965	1,137	1,961	1,989
Total Preferred & Common Equity	240	349	407	469	749	848	965	1,137	1,961	1,989
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	240	349	407	469	749	848	965	1,137	1,961	1,989
Common Stock	1,651	1,835	1,969	2,108	2,412	2,531	2,693	2,950	3,088	3,226
Retained Earnings	-1,408	-1,466	-1,536	-1,604	-1,639	-1,661	-1,697	-1,786	-1,099	-1,210
Treasury Stock	-1.53	-1.65	-1.65	-1.79	-2.03	-2.03	-2.16	-2.67	-2.67	-2.87
Accumulated Other Comprehensive Income / (Loss)	-1.89	-19	-24	-34	-22	-20	-28	-25	-25	-24

This table displays calculated financial ratios and metrics derived from DocuSign's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	35.93%	35.19%	38.95%	49.19%	45.02%	19.40%	9.78%	7.78%
EBITDA Growth	0.00%	121.40%	-2,508.10%	91.46%	219.83%	409.88%	12.75%	107.75%	48.58%
EBIT Growth	0.00%	57.61%	-760.23%	58.24%	5.37%	63.34%	-38.07%	220.40%	148.19%
NOPAT Growth	0.00%	55.40%	-725.36%	54.61%	10.16%	64.40%	-42.25%	140.54%	3,346.86%
Net Income Growth	0.00%	54.70%	-715.78%	51.14%	-16.75%	71.23%	-39.27%	175.91%	1,343.48%
EPS Growth	0.00%	60.19%	-90.36%	62.66%	-11.02%	72.52%	-36.11%	173.47%	1,311.11%
Operating Cash Flow Growth	0.00%	1,247.79%	38.39%	52.06%	156.67%	70.55%	0.06%	93.29%	3.85%
Free Cash Flow Firm Growth	0.00%	0.00%	-3,855.88%	71.81%	-38.75%	120.30%	-1,675.61%	153.21%	-151.61%
Invested Capital Growth	0.00%	0.00%	346.37%	-3.27%	52.53%	-45.51%	542.50%	-46.19%	307.02%
Revenue Q/Q Growth	0.00%	0.00%	7.82%	8.36%	12.03%	7.66%	3.23%	1.95%	2.19%
EBITDA Q/Q Growth	0.00%	0.00%	-13.83%	50.85%	1,718.55%	2.70%	29.04%	7.29%	9.80%
EBIT Q/Q Growth	0.00%	0.00%	-14.86%	9.89%	9.18%	-10.58%	29.47%	32.00%	17.32%
NOPAT Q/Q Growth	0.00%	0.00%	-15.23%	9.48%	9.12%	-0.46%	22.04%	56.82%	19.53%
Net Income Q/Q Growth	0.00%	0.00%	-16.34%	8.29%	-11.46%	37.49%	26.60%	43.37%	5.56%
EPS Q/Q Growth	0.00%	0.00%	61.23%	-130.18%	-11.02%	38.98%	26.87%	44.00%	4.74%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	2.95%	10.90%	5.97%	5.31%	10.77%	15.80%	3.80%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-12.07%	28.28%	-71.82%	-1.56%	187.49%	16.76%
Invested Capital Q/Q Growth	0.00%	0.00%	-19.26%	-0.16%	-25.34%	55.24%	10.87%	-28.54%	-1.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	73.14%	77.19%	72.55%	75.03%	74.95%	77.86%	78.69%	79.27%	79.12%
EBITDA Margin	-16.67%	2.62%	-46.75%	-2.87%	2.31%	8.11%	7.66%	14.50%	19.99%
Operating Margin	-30.36%	-9.96%	-60.82%	-19.87%	-11.96%	-2.94%	-3.50%	1.15%	6.72%
EBIT Margin	-30.00%	-9.36%	-59.54%	-17.90%	-11.35%	-2.87%	-3.32%	3.64%	8.38%
Profit (Net Income) Margin	-30.26%	-10.08%	-60.84%	-21.39%	-16.74%	-3.32%	-3.87%	2.68%	35.87%
Tax Burden Percent	100.31%	106.38%	99.59%	102.36%	106.00%	104.58%	108.43%	78.97%	430.70%
Interest Burden Percent	100.53%	101.29%	102.60%	116.78%	139.14%	110.65%	107.65%	93.19%	99.38%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.03%	-330.70%
Return on Invested Capital (ROIC)	0.00%	0.00%	-839.34%	-115.05%	-83.25%	-31.76%	-17.25%	5.25%	102.10%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-805.29%	-99.29%	-41.55%	-15.69%	22.95%	-7.06%	73.49%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	735.73%	79.15%	27.67%	8.61%	-4.58%	3.22%	-33.92%
Return on Equity (ROE)	0.00%	-25.03%	-103.61%	-35.90%	-55.58%	-23.15%	-21.83%	8.47%	68.18%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-389.92%	-111.73%	-124.85%	27.16%	-163.38%	65.32%	-19.01%
Operating Return on Assets (OROA)	0.00%	-7.83%	-37.34%	-9.94%	-7.80%	-2.48%	-3.01%	3.36%	7.14%
Return on Assets (ROA)	0.00%	-8.43%	-38.16%	-11.88%	-11.51%	-2.87%	-3.51%	2.47%	30.58%
Return on Common Equity (ROCE)	0.00%	40.59%	-34.70%	-35.90%	-55.36%	-23.02%	-21.83%	8.47%	68.18%
Return on Equity Simple (ROE_SIMPLE)	0.00%	15.44%	-69.41%	-38.14%	-74.68%	-25.40%	-15.79%	6.55%	53.32%
Net Operating Profit after Tax (NOPAT)	-81	-36	-298	-135	-122	-43	-62	25	861
NOPAT Margin	-21.25%	-6.97%	-42.57%	-13.91%	-8.38%	-2.06%	-2.45%	0.90%	28.93%
Net Nonoperating Expense Percent (NNEP)	0.00%	-12.52%	-34.05%	-15.76%	-41.70%	-16.07%	-40.20%	12.31%	28.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-4.60%	2.21%	43.00%
Cost of Revenue to Revenue	26.86%	22.81%	27.45%	24.97%	25.05%	22.14%	21.31%	20.73%	20.88%
SG&A Expenses to Revenue	16.87%	15.72%	29.86%	15.13%	13.26%	11.05%	12.57%	15.19%	12.63%
R&D to Revenue	23.50%	17.83%	26.53%	19.05%	18.69%	18.67%	19.10%	19.53%	19.77%
Operating Expenses to Revenue	103.50%	87.15%	133.37%	94.89%	86.91%	80.80%	82.19%	78.12%	72.40%
Earnings before Interest and Taxes (EBIT)	-114	-49	-417	-174	-165	-60	-83	101	249
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-64	14	-328	-28	34	171	193	400	595
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	13.30	25.79	133.38	90.33	19.75	11.00	9.76
Price to Tangible Book Value (P/TBV)	0.00	0.00	23.69	47.77	0.00	0.00	63.05	17.12	13.28
Price to Revenue (P/Rev)	1.65	1.21	11.66	14.47	29.90	11.81	4.85	4.50	6.56
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	167.93	18.30
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.60%	5.46%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	64.14	117.97	245.19	256.76	19.72	34.95	13.95
Enterprise Value to Revenue (EV/Rev)	0.00	1.77	10.95	14.02	29.80	11.73	4.85	4.21	6.35
Enterprise Value to EBITDA (EV/EBITDA)	0.00	67.56	0.00	0.00	1,291.17	144.50	63.25	29.03	31.75
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	115.66	75.73
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	465.40	21.94
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	16.72	100.90	118.05	145.81	48.78	24.06	11.87	18.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	73.99	0.00	0.00	0.00	666.98	0.00	37.43	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.71	0.85	2.17	2.61	1.17	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.71	0.85	2.11	2.61	0.00	0.00	0.00
Financial Leverage	0.00	-1.23	-0.91	-0.80	-0.67	-0.55	-0.20	-0.46	-0.46
Leverage Ratio	0.00	2.97	2.72	3.02	4.83	8.07	6.22	3.43	2.23
Compound Leverage Factor	0.00	3.01	2.79	3.53	6.72	8.93	6.70	3.19	2.22
Debt to Total Capital	0.00%	0.00%	41.67%	46.00%	68.44%	72.28%	53.94%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.96%	0.00%	53.94%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	41.67%	46.00%	66.48%	72.28%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	262.15%	0.00%	0.00%	0.33%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-162.15%	58.33%	54.00%	31.24%	27.72%	46.06%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	-1.34	-16.63	21.28	4.20	3.75	0.00	0.00
Net Debt to EBITDA	0.00	0.00	1.51	15.39	-4.55	-1.05	0.01	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	-1.34	-16.63	20.67	4.20	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	-1.47	-3.44	-5.86	-16.59	-11.73	0.00	0.00
Net Debt to NOPAT	0.00	0.00	1.66	3.18	1.25	4.14	-0.02	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	-1.47	-3.44	-5.70	-16.59	0.00	0.00	0.00
Altman Z-Score	0.00	0.45	4.02	5.81	12.58	6.52	2.82	4.26	6.23
Noncontrolling Interest Sharing Ratio	0.00%	262.15%	66.51%	0.00%	0.39%	0.56%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.12	1.91	1.36	1.06	0.96	0.74	0.94	0.81
Quick Ratio	0.00	1.02	1.83	1.29	1.00	0.91	0.56	0.74	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	12	-467	-132	-183	37	-584	311	-160
Operating Cash Flow to CapEx	-11.05%	290.45%	250.18%	160.59%	360.40%	824.92%	652.59%	1,060.20%	1,048.86%
Free Cash Flow to Firm to Interest Expense	0.00	19.91	-43.04	-4.50	-2.83	5.75	-91.36	45.38	-103.42
Operating Cash Flow to Interest Expense	-7.84	88.11	7.02	3.95	4.60	78.61	79.32	143.12	656.30
Operating Cash Flow Less CapEx to Interest Expense	-78.76	57.77	4.21	1.49	3.32	69.08	67.16	129.62	593.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.84	0.63	0.56	0.69	0.86	0.91	0.92	0.85
Accounts Receivable Turnover	0.00	4.19	4.70	4.72	5.18	5.51	5.25	5.78	6.85
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	8.23	10.10	9.54	9.91	12.05	13.08	12.41	10.93
Accounts Payable Turnover	0.00	4.99	8.89	10.19	11.11	10.35	13.89	26.37	25.00
Days Sales Outstanding (DSO)	0.00	87.11	77.66	77.27	70.51	66.21	69.48	63.18	53.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	73.18	41.07	35.82	32.84	35.28	26.28	13.84	14.60
Cash Conversion Cycle (CCC)	0.00	13.93	36.59	41.46	37.67	30.93	43.20	49.35	38.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-49	120	116	177	96	618	333	1,354
Invested Capital Turnover	0.00	-21.35	19.72	8.27	9.94	15.45	7.04	5.81	3.53
Increase / (Decrease) in Invested Capital	0.00	-49	168	-3.92	61	-80	522	-286	1,021
Enterprise Value (EV)	0.00	919	7,677	13,658	43,298	24,708	12,194	11,627	18,893
Market Capitalization	629	629	8,172	14,089	43,447	24,887	12,193	12,424	19,542
Book Value per Share	$0.00	($10.49)	$3.72	$3.04	$1.75	$1.39	$3.07	$5.54	$9.91
Tangible Book Value per Share	$0.00	($12.08)	$2.09	$1.64	($0.78)	($0.90)	$0.96	$3.56	$7.29
Total Capital	0.00	209	1,053	1,012	1,043	994	1,340	1,130	2,003
Total Debt	0.00	0.00	439	465	714	718	723	0.00	0.00
Total Long-Term Debt	0.00	0.00	439	465	693	718	0.00	0.00	0.00
Net Debt	0.00	-257	-495	-431	-153	-179	0.99	-797	-649
Capital Expenditures (CapEx)	43	19	30	72	82	61	78	92	97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-212	-301	-406	-684	-855	-576	-890	-991
Debt-free Net Working Capital (DFNWC)	0.00	45	468	250	90	-52	146	-93	-343
Net Working Capital (NWC)	0.00	45	468	250	69	-52	-577	-93	-343
Net Nonoperating Expense (NNE)	34	16	128	73	122	27	36	-49	-207
Net Nonoperating Obligations (NNO)	0.00	-257	-495	-431	-153	-179	0.99	-797	-649
Total Depreciation and Amortization (D&A)	51	62	90	146	198	231	276	300	346
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-40.98%	-42.97%	-41.71%	-47.06%	-40.57%	-22.91%	-32.22%	-33.30%
Debt-free Net Working Capital to Revenue	0.00%	8.67%	66.79%	25.66%	6.17%	-2.47%	5.79%	-3.37%	-11.51%
Net Working Capital to Revenue	0.00%	8.67%	66.79%	25.66%	4.76%	-2.47%	-22.95%	-3.37%	-11.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($4.17)	($1.66)	($3.16)	($1.18)	($1.31)	($0.36)	($0.49)	$0.36	$5.23
Adjusted Weighted Average Basic Shares Outstanding	28.02M	32.29M	169.90M	362.91M	193.09M	196.68M	200.90M	204.07M	204.33M
Adjusted Diluted Earnings per Share	($4.17)	($1.66)	($3.16)	($1.18)	($1.31)	($0.36)	($0.49)	$0.36	$5.08
Adjusted Weighted Average Diluted Shares Outstanding	28.02M	32.29M	169.90M	362.91M	193.09M	196.68M	200.90M	208.95M	210.34M
Adjusted Basic & Diluted Earnings per Share	($4.17)	($1.66)	($3.16)	($1.18)	($1.31)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.02M	32.29M	135.16M	176.70M	185.76M	198.87M	201.90M	205.42M	202.49M
Normalized Net Operating Profit after Tax (NOPAT)	-81	-36	-298	-135	-122	-43	-42	49	161
Normalized NOPAT Margin	-21.25%	-6.97%	-42.57%	-13.91%	-8.38%	-2.06%	-1.66%	1.77%	5.40%
Pre Tax Income Margin	-30.16%	-9.48%	-61.09%	-20.90%	-15.79%	-3.18%	-3.57%	3.39%	8.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-187.31	-77.75	-38.49	-5.96	-2.56	-9.39	-13.07	14.69	160.96
NOPAT to Interest Expense	-132.69	-57.94	-27.52	-4.63	-1.89	-6.72	-9.65	3.65	555.54
EBIT Less CapEx to Interest Expense	-258.22	-108.09	-41.29	-8.42	-3.83	-18.91	-25.22	1.19	98.39
NOPAT Less CapEx to Interest Expense	-203.60	-88.28	-30.32	-7.09	-3.16	-16.25	-21.80	-9.85	492.97
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.60%	-0.94%	0.00%	0.00%	0.00%	-64.69%	196.70%	64.01%

This table displays calculated financial ratios and metrics derived from DocuSign's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.56%	18.33%	13.56%	12.35%	10.53%	8.51%	8.01%	7.30%	7.03%	7.77%	8.97%
EBITDA Growth	-10.49%	-24.70%	114.52%	87.21%	261.74%	171.81%	33.50%	44.61%	55.75%	44.58%	48.97%
EBIT Growth	-69.33%	-519.15%	125.48%	131.81%	160.04%	240.58%	344.10%	383.76%	200.96%	92.55%	117.12%
NOPAT Growth	-81.73%	-716.89%	98.56%	96.69%	107.56%	211.32%	3,677.65%	4,786.73%	32,726.90%	140.86%	717.27%
Net Income Growth	-76.77%	-426.18%	115.97%	101.97%	116.40%	229.93%	460.17%	6,163.45%	11,910.97%	60.86%	206.49%
EPS Growth	-69.23%	-400.00%	112.50%	100.00%	118.18%	226.67%	550.00%	0.00%	10,550.00%	57.89%	176.92%
Operating Cash Flow Growth	-31.96%	-50.16%	56.12%	19.03%	74.57%	402.84%	97.51%	9.07%	4.36%	-11.30%	13.75%
Free Cash Flow Firm Growth	-82.90%	-398.99%	-932.51%	-607.33%	-2,032.78%	122.04%	156.42%	144.43%	86.79%	-859.15%	-421.35%
Invested Capital Growth	-100.27%	799.65%	542.50%	8,475.91%	358,220.00%	-16.52%	-46.19%	-40.03%	141.83%	196.09%	307.02%
Revenue Q/Q Growth	5.69%	3.74%	2.19%	0.27%	3.98%	1.85%	1.71%	-0.39%	3.72%	2.55%	2.84%
EBITDA Q/Q Growth	-34.80%	47.17%	98.36%	-1.64%	25.98%	10.58%	-2.58%	6.54%	35.69%	2.65%	0.38%
EBIT Q/Q Growth	-67.90%	33.62%	126.61%	7.23%	216.92%	55.45%	-15.93%	16.81%	97.16%	-0.55%	-5.20%
NOPAT Q/Q Growth	-113.72%	33.24%	98.68%	-75.13%	588.42%	882.48%	-57.43%	129.42%	3,320.98%	-92.79%	44.45%
Net Income Q/Q Growth	-64.68%	33.75%	116.28%	-88.92%	1,271.99%	424.75%	-29.80%	23.93%	2,530.96%	-92.97%	33.75%
EPS Q/Q Growth	-57.14%	31.82%	113.33%	-100.00%	0.00%	375.00%	-31.58%	23.08%	2,562.50%	-92.96%	20.00%
Operating Cash Flow Q/Q Growth	-38.42%	-56.54%	160.88%	70.47%	-9.68%	25.19%	2.47%	-5.86%	-13.59%	6.41%	31.40%
Free Cash Flow Firm Q/Q Growth	-72.46%	-1,899.35%	-1.44%	-0.94%	-4.90%	120.52%	159.70%	-20.51%	-131.20%	-1,078.68%	-9.93%
Invested Capital Q/Q Growth	-102.49%	359,885.81%	10.87%	-13.79%	4.15%	-16.13%	-28.54%	-3.93%	319.99%	2.69%	-1.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.03%	79.93%	79.16%	79.36%	78.83%	79.63%	79.24%	78.94%	78.88%	79.26%	79.36%
EBITDA Margin	4.47%	6.35%	12.32%	12.09%	14.64%	15.90%	15.23%	16.29%	21.31%	21.33%	20.82%
Operating Margin	-6.60%	-4.25%	-0.04%	-0.70%	0.96%	2.82%	1.39%	3.19%	7.85%	7.82%	7.79%
EBIT Margin	-6.44%	-4.12%	1.07%	1.15%	3.50%	5.34%	4.41%	5.18%	9.84%	9.54%	8.80%
Profit (Net Income) Margin	-7.25%	-4.63%	0.74%	0.08%	1.08%	5.54%	3.82%	4.76%	120.68%	8.27%	10.76%
Tax Burden Percent	108.05%	106.41%	89.56%	9.58%	32.90%	108.29%	91.59%	92.26%	1,235.57%	87.21%	122.99%
Interest Burden Percent	104.07%	105.47%	76.67%	74.11%	93.39%	95.78%	94.57%	99.61%	99.25%	99.36%	99.41%
Effective Tax Rate	0.00%	0.00%	10.44%	90.42%	67.10%	-8.29%	8.41%	7.74%	-1,135.57%	12.79%	-22.99%
Return on Invested Capital (ROIC)	-378.65%	-23.40%	-0.27%	-0.65%	3.03%	16.16%	7.42%	19.39%	292.35%	21.55%	33.81%
ROIC Less NNEP Spread (ROIC-NNEP)	-372.85%	0.72%	-6.01%	-1.00%	1.53%	7.66%	2.86%	16.90%	254.17%	19.58%	32.55%
Return on Net Nonoperating Assets (RNNOA)	338.47%	-0.09%	1.20%	0.51%	-0.86%	-2.19%	-1.30%	-9.26%	-82.49%	-7.36%	-15.02%
Return on Equity (ROE)	-40.18%	-23.49%	0.93%	-0.14%	2.17%	13.97%	6.12%	10.13%	209.86%	14.19%	18.79%
Cash Return on Invested Capital (CROIC)	0.00%	-185.50%	-163.38%	-214.46%	-85.54%	21.12%	65.32%	61.94%	-17.10%	-20.88%	-19.01%
Operating Return on Assets (OROA)	-6.00%	-3.91%	0.97%	1.04%	3.13%	4.77%	4.08%	4.80%	8.01%	7.82%	7.50%
Return on Assets (ROA)	-6.74%	-4.39%	0.67%	0.07%	0.96%	4.95%	3.53%	4.41%	98.26%	6.78%	9.17%
Return on Common Equity (ROCE)	-40.18%	-23.49%	0.93%	-0.14%	2.17%	13.97%	6.12%	10.13%	209.86%	14.19%	18.79%
Return on Equity Simple (ROE_SIMPLE)	-26.67%	-28.34%	0.00%	-9.28%	-2.01%	5.35%	0.00%	9.43%	50.37%	50.85%	0.00%
Net Operating Profit after Tax (NOPAT)	-29	-19	-0.25	-0.45	2.18	21	9.10	21	714	51	74
NOPAT Margin	-4.62%	-2.97%	-0.04%	-0.07%	0.32%	3.05%	1.28%	2.94%	97.03%	6.82%	9.58%
Net Nonoperating Expense Percent (NNEP)	-5.81%	-24.12%	5.74%	0.35%	1.49%	8.50%	4.56%	2.49%	38.18%	1.97%	1.26%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-0.02%	-	-	-	0.81%	-	-	-	3.71%
Cost of Revenue to Revenue	21.97%	20.07%	20.84%	20.64%	21.17%	20.37%	20.76%	21.06%	21.12%	20.74%	20.64%
SG&A Expenses to Revenue	12.29%	13.25%	13.89%	15.85%	15.11%	15.45%	14.42%	13.03%	11.84%	12.92%	12.73%
R&D to Revenue	20.34%	17.96%	19.09%	17.44%	19.77%	19.51%	21.27%	18.93%	20.05%	20.02%	20.03%
Operating Expenses to Revenue	84.63%	84.18%	79.21%	80.07%	77.87%	76.82%	77.84%	75.75%	71.02%	71.44%	71.57%
Earnings before Interest and Taxes (EBIT)	-40	-27	7.08	7.59	24	37	31	37	72	72	68
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	41	81	80	101	111	108	116	157	161	162
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	31.42	20.70	19.75	13.32	12.85	8.19	11.00	10.23	5.79	7.08	9.76
Price to Tangible Book Value (P/TBV)	0.00	237.39	63.05	30.16	25.09	14.16	17.12	15.75	8.02	9.71	13.28
Price to Revenue (P/Rev)	5.47	3.98	4.85	3.86	4.10	2.92	4.50	4.14	3.97	4.83	6.56
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	153.11	167.93	108.46	11.50	13.92	18.30
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.65%	0.60%	0.92%	8.70%	7.18%	5.46%
Enterprise Value to Invested Capital (EV/IC)	0.00	17.55	19.72	18.32	19.09	15.90	34.95	33.82	8.00	9.77	13.95
Enterprise Value to Revenue (EV/Rev)	5.30	4.02	4.85	3.77	3.99	2.73	4.21	3.85	3.76	4.62	6.35
Enterprise Value to EBITDA (EV/EBITDA)	76.06	65.51	63.25	42.46	34.99	19.83	29.03	24.78	21.81	24.86	31.75
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	873.63	97.19	115.66	83.36	60.32	63.35	75.73
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	131.79	464.59	465.40	213.33	17.18	18.70	21.94
Enterprise Value to Operating Cash Flow (EV/OCF)	24.27	21.39	24.06	17.95	16.71	8.75	11.87	10.80	10.63	13.75	18.57
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	68.51	37.43	40.94	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.77	1.54	1.17	0.97	0.86	0.71	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	1.77	1.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.91	-0.12	-0.20	-0.51	-0.56	-0.29	-0.46	-0.55	-0.32	-0.38	-0.46
Leverage Ratio	8.11	7.26	6.22	5.19	4.73	4.23	3.43	3.21	2.50	2.41	2.23
Compound Leverage Factor	8.45	7.66	4.77	3.85	4.42	4.06	3.24	3.20	2.48	2.39	2.22
Debt to Total Capital	63.90%	60.64%	53.94%	49.13%	46.10%	41.66%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	3.10%	53.94%	49.13%	46.10%	41.66%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	63.90%	57.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	36.10%	39.36%	46.06%	50.87%	53.90%	58.34%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	4.43	4.83	3.75	3.15	2.39	1.85	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-2.50	0.60	0.01	-0.94	-0.97	-1.34	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	4.43	4.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-11.59	-9.13	-11.73	-14.08	9.02	43.26	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	6.55	-1.13	-0.02	4.21	-3.64	-31.35	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-11.59	-8.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.43	2.62	2.92	2.47	2.72	2.08	4.19	4.00	4.13	5.05	6.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.01	1.02	0.74	0.82	0.88	0.93	0.94	0.93	0.84	0.83	0.81
Quick Ratio	0.95	0.73	0.56	0.61	0.64	0.71	0.74	0.70	0.58	0.57	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	29	-515	-522	-527	-553	113	295	234	-73	-861	-947
Operating Cash Flow to CapEx	784.72%	318.85%	569.55%	1,225.98%	770.72%	1,108.08%	1,224.10%	1,119.97%	988.37%	992.36%	1,086.42%
Free Cash Flow to Firm to Interest Expense	17.53	-353.63	-316.16	-268.17	-347.40	71.96	172.44	1,626.79	-134.35	-1,864.63	-2,367.56
Operating Cash Flow to Interest Expense	74.07	36.08	82.96	118.84	132.55	167.52	158.40	1,769.63	404.79	507.20	769.78
Operating Cash Flow Less CapEx to Interest Expense	64.63	24.77	68.40	109.14	115.35	152.40	145.46	1,611.62	363.84	456.09	698.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.95	0.91	0.91	0.89	0.89	0.92	0.93	0.81	0.82	0.85
Accounts Receivable Turnover	7.49	6.69	5.25	7.30	7.04	6.92	5.78	7.86	7.89	8.81	6.85
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	12.98	13.03	13.08	13.28	13.04	12.69	12.41	12.17	11.75	11.43	10.93
Accounts Payable Turnover	13.23	11.17	13.89	26.41	21.85	18.14	26.37	36.16	85.56	37.01	25.00
Days Sales Outstanding (DSO)	48.75	54.53	69.48	50.02	51.86	52.75	63.18	46.42	46.26	41.41	53.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	27.58	32.67	26.28	13.82	16.70	20.12	13.84	10.09	4.27	9.86	14.60
Cash Conversion Cycle (CCC)	21.17	21.86	43.20	36.20	35.16	32.64	49.35	36.33	42.00	31.54	38.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-0.16	558	618	533	555	466	333	320	1,342	1,379	1,354
Invested Capital Turnover	81.91	7.87	7.04	9.60	9.57	5.30	5.81	6.59	3.01	3.16	3.53
Increase / (Decrease) in Invested Capital	-57	496	522	527	555	-92	-286	-213	787	913	1,021
Enterprise Value (EV)	12,385	9,787	12,194	9,766	10,599	7,401	11,627	10,809	10,739	13,471	18,893
Market Capitalization	12,792	9,698	12,193	9,982	10,892	7,901	12,424	11,626	11,358	14,082	19,542
Book Value per Share	$2.04	$2.33	$3.07	$3.71	$4.19	$4.75	$5.54	$5.54	$9.58	$9.80	$9.91
Tangible Book Value per Share	($0.14)	$0.20	$0.96	$1.64	$2.15	$2.75	$3.56	$3.59	$6.92	$7.15	$7.29
Total Capital	1,128	1,190	1,340	1,473	1,573	1,654	1,130	1,137	1,961	1,989	2,003
Total Debt	721	722	723	724	725	689	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	721	685	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-407	89	0.99	-216	-293	-499	-797	-817	-619	-611	-649
Capital Expenditures (CapEx)	15	16	24	19	27	24	22	23	22	24	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-974	-565	-576	-608	-570	-646	-890	-933	-883	-878	-991
Debt-free Net Working Capital (DFNWC)	21	68	146	333	448	543	-93	-115	-264	-267	-343
Net Working Capital (NWC)	21	31	-577	-391	-277	-147	-93	-115	-264	-267	-343
Net Nonoperating Expense (NNE)	16	11	-5.12	-0.98	-5.22	-17	-18	-13	-174	-11	-9.12
Net Nonoperating Obligations (NNO)	-407	89	0.99	-216	-293	-499	-797	-817	-619	-611	-649
Total Depreciation and Amortization (D&A)	68	68	74	72	77	74	77	79	84	89	93
Debt-free, Cash-free Net Working Capital to Revenue	-41.68%	-23.18%	-22.91%	-23.48%	-21.48%	-23.85%	-32.22%	-33.19%	-30.89%	-30.13%	-33.30%
Debt-free Net Working Capital to Revenue	0.88%	2.78%	5.79%	12.85%	16.86%	20.03%	-3.37%	-4.10%	-9.23%	-9.16%	-11.51%
Net Working Capital to Revenue	0.88%	1.27%	-22.95%	-15.12%	-10.46%	-5.41%	-3.37%	-4.10%	-9.23%	-9.16%	-11.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.22)	($0.15)	$0.02	$0.00	$0.04	$0.19	$0.13	$0.16	$4.34	$0.31	$0.42
Adjusted Weighted Average Basic Shares Outstanding	200.62M	201.39M	200.90M	202.63M	203.70M	204.46M	204.07M	205.87M	204.60M	203.57M	204.33M
Adjusted Diluted Earnings per Share	($0.22)	($0.15)	$0.02	$0.00	$0.04	$0.19	$0.13	$0.16	$4.26	$0.30	$0.36
Adjusted Weighted Average Diluted Shares Outstanding	200.62M	201.39M	200.90M	208.07M	208.19M	208.05M	208.95M	209.90M	208.27M	208.71M	210.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	200.78M	201.07M	201.90M	202.37M	203.21M	203.93M	205.42M	204.72M	202.97M	202.02M	202.49M
Normalized Net Operating Profit after Tax (NOPAT)	-29	0.46	-0.03	17	5.20	14	9.18	48	41	51	42
Normalized NOPAT Margin	-4.62%	0.07%	0.00%	2.55%	0.76%	2.04%	1.29%	6.73%	5.55%	6.82%	5.45%
Pre Tax Income Margin	-6.71%	-4.35%	0.82%	0.85%	3.27%	5.12%	4.18%	5.16%	9.77%	9.48%	8.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-24.56	-18.28	4.29	3.86	15.12	23.72	18.40	255.12	133.15	155.92	170.72
NOPAT to Interest Expense	-17.62	-13.19	-0.15	-0.23	1.37	13.55	5.32	144.97	1,312.81	111.43	185.92
EBIT Less CapEx to Interest Expense	-34.00	-29.59	-10.28	-5.83	-2.08	8.60	5.46	97.11	92.19	104.81	99.86
NOPAT Less CapEx to Interest Expense	-27.06	-24.50	-14.72	-9.92	-15.83	-1.56	-7.62	-13.03	1,271.86	60.32	115.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-23.03%	-47.48%	-64.69%	-148.85%	-635.74%	281.99%	196.70%	237.04%	42.93%	51.58%	64.01%

Frequently Asked Questions About DocuSign's Financials

When does DocuSign's fiscal year end?

According to the most recent income statement we have on file, DocuSign's financial year ends in January. Their financial year 2025 ended on January 31, 2025.

How has DocuSign's net income changed over the last 8 years?

DocuSign's net income appears to be on a downward trend, with a most recent value of $1.07 billion in 2025, falling from -$115.41 million in 2017. The previous period was $73.98 million in 2024.

What is DocuSign's operating income?

DocuSign's total operating income in 2025 was $199.93 million, based on the following breakdown:

Total Gross Profit: $2.36 billion
Total Operating Expenses: $2.16 billion

How has DocuSign revenue changed over the last 8 years?

Over the last 8 years, DocuSign's total revenue changed from $381.46 million in 2017 to $2.98 billion in 2025, a change of 680.4%.

How much debt does DocuSign have?

DocuSign's total liabilities were at $2.01 billion at the end of 2025, a 9.1% increase from 2024, and a 388.9% increase since 2018.

How much cash does DocuSign have?

In the past 7 years, DocuSign's cash and equivalents has ranged from $241.20 million in 2020 to $797.06 million in 2024, and is currently $648.62 million as of their latest financial filing in 2025.

How has DocuSign's book value per share changed over the last 8 years?

Over the last 8 years, DocuSign's book value per share changed from 0.00 in 2017 to 9.91 in 2025, a change of 991.3%.

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This page (NASDAQ:DOCU) was last updated on 4/12/2025 by MarketBeat.com Staff

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DocuSign (DOCU) Financials

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