DocuSign (DOCU) Financials

$89.73 -1.58 (-1.73%)

As of 04:00 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	2025	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017
Net Income / (Loss) Attributable to Common Shareholders	1,068	74	-97	-70	-243	-208	-426	-52	-115
Consolidated Net Income / (Loss)	1,068	74	-97	-70	-243	-208	-426	-52	-115
Net Income / (Loss) Continuing Operations	1,068	74	-97	-70	-243	-208	-426	-52	-115
Total Pre-Tax Income	248	94	-90	-67	-229	-204	-428	-49	-115
Total Operating Income	200	32	-88	-62	-174	-194	-426	-52	-116
Total Gross Profit	2,355	2,189	1,980	1,641	1,089	731	509	400	279
Total Revenue	2,977	2,762	2,516	2,107	1,453	974	701	519	381
Operating Revenue	2,977	2,762	2,516	2,107	1,453	974	701	519	381
Total Cost of Revenue	622	573	536	466	364	243	192	118	102
Operating Cost of Revenue	622	573	536	466	364	243	192	118	102
Total Operating Expenses	2,155	2,158	2,068	1,703	1,263	924	935	452	395
Selling, General & Admin Expense	376	420	316	233	193	147	209	82	64
Marketing Expense	1,161	1,168	1,243	1,077	799	591	540	278	241
Research & Development Expense	588	539	481	393	272	186	186	92	90
Restructuring Charge	30	30	28	0.00	0.00	-	-	-	-
Total Other Income / (Expense), net	48	62	-1.85	-5.03	-56	-10	-1.89	2.51	0.76
Interest Expense	1.55	6.84	6.39	6.44	65	29	11	0.62	0.61
Other Income / (Expense), net	50	69	4.54	1.41	8.91	19	8.96	3.14	1.37
Income Tax Expense	-820	20	7.57	3.06	14	4.80	-1.75	3.13	0.36
Basic Earnings per Share	$5.23	$0.36	($0.49)	($0.36)	($1.31)	($1.18)	($3.16)	($1.66)	($4.17)
Weighted Average Basic Shares Outstanding	204.33M	204.07M	200.90M	196.68M	185.76M	176.70M	135.16M	32.29M	28.02M
Diluted Earnings per Share	$5.08	$0.36	($0.49)	($0.36)	($1.31)	($1.18)	($3.16)	($1.66)	($4.17)
Weighted Average Diluted Shares Outstanding	210.34M	208.95M	200.90M	196.68M	185.76M	176.70M	135.16M	32.29M	28.02M
Weighted Average Basic & Diluted Shares Outstanding	202.49M	205.42M	201.90M	198.87M	185.76M	176.70M	135.16M	32.29M	28.02M

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

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Income / (Loss) Attributable to Common Shareholders	83	62	888	34	27	39	7.40	0.54	4.86	-30	-45
Consolidated Net Income / (Loss)	83	62	888	34	27	39	7.40	0.54	4.86	-30	-45
Net Income / (Loss) Continuing Operations	83	62	888	34	27	39	7.40	0.54	4.86	-30	-45
Total Pre-Tax Income	68	72	72	37	30	36	22	5.63	5.43	-28	-42
Total Operating Income	60	59	58	23	9.94	20	6.61	-4.65	-0.28	-27	-41
Total Gross Profit	616	598	581	560	564	558	542	525	522	516	485
Total Revenue	776	755	736	710	712	700	688	661	660	645	622
Operating Revenue	776	755	736	710	712	700	688	661	660	645	622
Total Cost of Revenue	160	157	155	149	148	143	146	136	137	130	137
Operating Cost of Revenue	160	157	155	149	148	143	146	136	137	130	137
Total Operating Expenses	556	539	523	538	555	538	535	530	522	543	527
Selling, General & Admin Expense	99	98	87	92	103	108	104	105	92	86	76
Marketing Expense	301	291	287	282	300	292	295	281	305	314	324
Research & Development Expense	155	151	148	134	152	137	136	115	126	116	127
Total Other Income / (Expense), net	7.42	13	14	14	20	16	16	10	5.71	-0.64	-0.63
Interest Expense	0.40	0.46	0.54	0.14	1.71	1.58	1.59	1.97	1.65	1.46	1.63
Other Income / (Expense), net	7.82	13	15	14	22	18	17	12	7.37	0.82	1.00
Income Tax Expense	-16	9.15	-816	2.83	2.50	-2.97	15	5.09	0.57	1.80	3.36
Basic Earnings per Share	$0.42	$0.31	$4.34	$0.16	$0.13	$0.19	$0.04	$0.00	$0.02	($0.15)	($0.22)
Weighted Average Basic Shares Outstanding	204.33M	203.57M	204.60M	205.87M	204.07M	204.46M	203.70M	202.63M	200.90M	201.39M	200.62M
Diluted Earnings per Share	$0.36	$0.30	$4.26	$0.16	$0.13	$0.19	$0.04	$0.00	$0.02	($0.15)	($0.22)
Weighted Average Diluted Shares Outstanding	210.34M	208.71M	208.27M	209.90M	208.95M	208.05M	208.19M	208.07M	200.90M	201.39M	200.62M
Weighted Average Basic & Diluted Shares Outstanding	202.49M	202.02M	202.97M	204.72M	205.42M	203.93M	203.21M	202.37M	201.90M	201.07M	200.78M

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

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	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Change in Cash & Equivalents	39	-7.27	-195	21	-392	171	78	222	89	-4.46	-0.77
Net Cash From Operating Activities	308	234	220	255	271	264	211	234	137	53	121
Net Cash From Continuing Operating Activities	308	234	220	255	271	268	208	234	135	53	121
Net Income / (Loss) Continuing Operations	83	62	888	34	27	39	7.40	0.54	4.86	-30	-45
Consolidated Net Income / (Loss)	83	62	888	34	27	39	7.40	0.54	4.86	-30	-45
Depreciation Expense	29	28	27	25	24	23	25	23	22	22	21
Amortization Expense	65	61	57	54	53	51	51	49	52	46	47
Non-Cash Adjustments To Reconcile Net Income	154	159	173	149	165	164	158	150	155	150	154
Changes in Operating Assets and Liabilities, net	-23	-76	-926	-6.64	1.14	-8.77	-34	11	-99	-135	-56
Net Cash From Investing Activities	-32	-44	-176	-61	67	34	-65	7.81	-44	-1.84	-83
Net Cash From Continuing Investing Activities	-32	-44	-176	-61	67	34	-65	7.81	-44	-1.84	-83
Purchase of Property, Plant & Equipment	-28	-24	-22	-23	-22	-24	-27	-19	-24	-16	-15
Purchase of Investments	-78	-110	-104	-120	-133	-29	-121	-54	-132	-107	-167
Sale and/or Maturity of Investments	75	90	94	82	222	88	83	81	112	122	99
Net Cash From Financing Activities	-232	-198	-239	-170	-735	-121	-69	-21	-16	-49	-35
Net Cash From Continuing Financing Activities	-232	-198	-239	-170	-735	-121	-69	-21	-16	-49	-35
Repurchase of Common Equity	-162	-173	-200	-149	-	-75	-30	-40	-	-38	-25
Other Financing Activities, net	-70	-41	-39	-41	-45	-23	-39	1.18	-16	-23	-10
Effect of Exchange Rate Changes	-5.31	0.44	0.24	-2.92	5.10	-7.19	1.28	1.01	11	-6.61	-2.86

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

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 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	10/31/2024	7/31/2024	4/30/2024	10/31/2023	7/31/2023	4/30/2023	10/31/2022	7/31/2022	4/30/2022	10/31/2021
Total Assets	3,770	3,754	2,927	3,338	3,267	3,130	2,732	2,667	2,574	2,411
Total Current Assets	1,332	1,343	1,490	2,043	1,956	1,804	1,480	1,423	1,363	1,207
Cash & Equivalents	611	619	817	1,189	1,018	940	633	637	638	504
Accounts Receivable	300	310	306	360	415	409	423	340	301	306
Prepaid Expenses	75	82	85	73	81	87	69	79	81	68
Other Current Assets	345	333	282	421	442	368	356	9.39	13	15
Plant, Property, & Equipment, net	279	266	256	231	221	206	196	186	184	178
Total Noncurrent Assets	2,160	2,145	1,181	1,064	1,090	1,120	1,055	1,058	1,028	1,026
Goodwill	456	456	352	351	353	353	352	353	354	355
Intangible Assets	83	90	46	56	60	65	75	81	87	103
Noncurrent Deferred & Refundable Income Taxes	817	822	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	804	777	782	657	676	701	627	491	492	478
Total Liabilities & Shareholders' Equity	3,770	3,754	2,927	3,338	3,267	3,130	2,732	2,667	2,574	2,411
Total Liabilities	1,781	1,793	1,790	2,373	2,420	2,380	2,263	2,260	2,225	2,171
Total Current Liabilities	1,599	1,607	1,605	2,189	2,234	2,195	1,450	1,402	1,344	1,260
Accounts Payable	18	8.12	18	15	5.80	15	47	44	26	48
Accrued Expenses	95	93	99	100	109	102	96	91	93	81
Current Employee Benefit Liabilities	159	179	154	159	162	142	146	150	138	145
Other Current Liabilities	1,327	1,327	1,334	1,226	1,231	1,213	1,123	43	1,087	975
Total Noncurrent Liabilities	182	185	185	183	186	185	814	858	881	911
Noncurrent Deferred & Payable Income Tax Liabilities	19	18	18	17	14	12	10	10	9.08	6.38
Other Noncurrent Operating Liabilities	163	167	167	166	172	173	118	112	153	185
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	1,989	1,961	1,137	965	848	749	469	407	349	240
Total Preferred & Common Equity	1,989	1,961	1,137	965	848	749	469	407	349	240
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	1,989	1,961	1,137	965	848	749	469	407	349	240
Common Stock	3,226	3,088	2,950	2,693	2,531	2,412	2,108	1,969	1,835	1,651
Retained Earnings	-1,210	-1,099	-1,786	-1,697	-1,661	-1,639	-1,604	-1,536	-1,466	-1,408
Treasury Stock	-2.87	-2.67	-2.67	-2.16	-2.03	-2.03	-1.79	-1.65	-1.65	-1.53
Accumulated Other Comprehensive Income / (Loss)	-24	-25	-25	-28	-20	-22	-34	-24	-19	-1.89

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

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021	1/31/2020	1/31/2019	1/31/2018	1/31/2017
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	7.78%	9.78%	19.40%	45.02%	49.19%	38.95%	35.19%	35.93%	0.00%
EBITDA Growth	48.58%	107.75%	12.75%	409.88%	219.83%	91.46%	-2,508.10%	121.40%	0.00%
EBIT Growth	148.19%	220.40%	-38.07%	63.34%	5.37%	58.24%	-760.23%	57.61%	0.00%
NOPAT Growth	3,346.86%	140.54%	-42.25%	64.40%	10.16%	54.61%	-725.36%	55.40%	0.00%
Net Income Growth	1,343.48%	175.91%	-39.27%	71.23%	-16.75%	51.14%	-715.78%	54.70%	0.00%
EPS Growth	1,311.11%	173.47%	-36.11%	72.52%	-11.02%	62.66%	-90.36%	60.19%	0.00%
Operating Cash Flow Growth	3.85%	93.29%	0.06%	70.55%	156.67%	52.06%	38.39%	1,247.79%	0.00%
Free Cash Flow Firm Growth	-151.61%	153.21%	-1,675.61%	120.30%	-38.75%	71.81%	-3,855.88%	0.00%	0.00%
Invested Capital Growth	307.02%	-46.19%	542.50%	-45.51%	52.53%	-3.27%	346.37%	0.00%	0.00%
Revenue Q/Q Growth	2.19%	1.95%	3.23%	7.66%	12.03%	8.36%	7.82%	0.00%	0.00%
EBITDA Q/Q Growth	9.80%	7.29%	29.04%	2.70%	1,718.55%	50.85%	-13.83%	0.00%	0.00%
EBIT Q/Q Growth	17.32%	32.00%	29.47%	-10.58%	9.18%	9.89%	-14.86%	0.00%	0.00%
NOPAT Q/Q Growth	19.53%	56.82%	22.04%	-0.46%	9.12%	9.48%	-15.23%	0.00%	0.00%
Net Income Q/Q Growth	5.56%	43.37%	26.60%	37.49%	-11.46%	8.29%	-16.34%	0.00%	0.00%
EPS Q/Q Growth	4.74%	44.00%	26.87%	38.98%	-11.02%	-130.18%	61.23%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	3.80%	15.80%	10.77%	5.31%	5.97%	10.90%	2.95%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	16.76%	187.49%	-1.56%	-71.82%	28.28%	-12.07%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-1.77%	-28.54%	10.87%	55.24%	-25.34%	-0.16%	-19.26%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	79.12%	79.27%	78.69%	77.86%	74.95%	75.03%	72.55%	77.19%	73.14%
EBITDA Margin	19.99%	14.50%	7.66%	8.11%	2.31%	-2.87%	-46.75%	2.62%	-16.67%
Operating Margin	6.72%	1.15%	-3.50%	-2.94%	-11.96%	-19.87%	-60.82%	-9.96%	-30.36%
EBIT Margin	8.38%	3.64%	-3.32%	-2.87%	-11.35%	-17.90%	-59.54%	-9.36%	-30.00%
Profit (Net Income) Margin	35.87%	2.68%	-3.87%	-3.32%	-16.74%	-21.39%	-60.84%	-10.08%	-30.26%
Tax Burden Percent	430.70%	78.97%	108.43%	104.58%	106.00%	102.36%	99.59%	106.38%	100.31%
Interest Burden Percent	99.38%	93.19%	107.65%	110.65%	139.14%	116.78%	102.60%	101.29%	100.53%
Effective Tax Rate	-330.70%	21.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	102.10%	5.25%	-17.25%	-31.76%	-83.25%	-115.05%	-839.34%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	73.49%	-7.06%	22.95%	-15.69%	-41.55%	-99.29%	-805.29%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-33.92%	3.22%	-4.58%	8.61%	27.67%	79.15%	735.73%	0.00%	0.00%
Return on Equity (ROE)	68.18%	8.47%	-21.83%	-23.15%	-55.58%	-35.90%	-103.61%	-25.03%	0.00%
Cash Return on Invested Capital (CROIC)	-19.01%	65.32%	-163.38%	27.16%	-124.85%	-111.73%	-389.92%	0.00%	0.00%
Operating Return on Assets (OROA)	7.14%	3.36%	-3.01%	-2.48%	-7.80%	-9.94%	-37.34%	-7.83%	0.00%
Return on Assets (ROA)	30.58%	2.47%	-3.51%	-2.87%	-11.51%	-11.88%	-38.16%	-8.43%	0.00%
Return on Common Equity (ROCE)	68.18%	8.47%	-21.83%	-23.02%	-55.36%	-35.90%	-34.70%	40.59%	0.00%
Return on Equity Simple (ROE_SIMPLE)	53.32%	6.55%	-15.79%	-25.40%	-74.68%	-38.14%	-69.41%	15.44%	0.00%
Net Operating Profit after Tax (NOPAT)	861	25	-62	-43	-122	-135	-298	-36	-81
NOPAT Margin	28.93%	0.90%	-2.45%	-2.06%	-8.38%	-13.91%	-42.57%	-6.97%	-21.25%
Net Nonoperating Expense Percent (NNEP)	28.61%	12.31%	-40.20%	-16.07%	-41.70%	-15.76%	-34.05%	-12.52%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	43.00%	2.21%	-4.60%	-	-	-	-	-	-
Cost of Revenue to Revenue	20.88%	20.73%	21.31%	22.14%	25.05%	24.97%	27.45%	22.81%	26.86%
SG&A Expenses to Revenue	12.63%	15.19%	12.57%	11.05%	13.26%	15.13%	29.86%	15.72%	16.87%
R&D to Revenue	19.77%	19.53%	19.10%	18.67%	18.69%	19.05%	26.53%	17.83%	23.50%
Operating Expenses to Revenue	72.40%	78.12%	82.19%	80.80%	86.91%	94.89%	133.37%	87.15%	103.50%
Earnings before Interest and Taxes (EBIT)	249	101	-83	-60	-165	-174	-417	-49	-114
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	595	400	193	171	34	-28	-328	14	-64
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.76	11.00	19.75	90.33	133.38	25.79	13.30	0.00	0.00
Price to Tangible Book Value (P/TBV)	13.28	17.12	63.05	0.00	0.00	47.77	23.69	0.00	0.00
Price to Revenue (P/Rev)	6.56	4.50	4.85	11.81	29.90	14.47	11.66	1.21	1.65
Price to Earnings (P/E)	18.30	167.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.46%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	13.95	34.95	19.72	256.76	245.19	117.97	64.14	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	6.35	4.21	4.85	11.73	29.80	14.02	10.95	1.77	0.00
Enterprise Value to EBITDA (EV/EBITDA)	31.75	29.03	63.25	144.50	1,291.17	0.00	0.00	67.56	0.00
Enterprise Value to EBIT (EV/EBIT)	75.73	115.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	21.94	465.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.57	11.87	24.06	48.78	145.81	118.05	100.90	16.72	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	37.43	0.00	666.98	0.00	0.00	0.00	73.99	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	1.17	2.61	2.17	0.85	0.71	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	2.61	2.11	0.85	0.71	0.00	0.00
Financial Leverage	-0.46	-0.46	-0.20	-0.55	-0.67	-0.80	-0.91	-1.23	0.00
Leverage Ratio	2.23	3.43	6.22	8.07	4.83	3.02	2.72	2.97	0.00
Compound Leverage Factor	2.22	3.19	6.70	8.93	6.72	3.53	2.79	3.01	0.00
Debt to Total Capital	0.00%	0.00%	53.94%	72.28%	68.44%	46.00%	41.67%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	53.94%	0.00%	1.96%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	72.28%	66.48%	46.00%	41.67%	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%	0.00%	0.00%	0.00%	0.33%	0.00%	0.00%	262.15%	0.00%
Common Equity to Total Capital	100.00%	100.00%	46.06%	27.72%	31.24%	54.00%	58.33%	-162.15%	0.00%
Debt to EBITDA	0.00	0.00	3.75	4.20	21.28	-16.63	-1.34	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.01	-1.05	-4.55	15.39	1.51	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	4.20	20.67	-16.63	-1.34	0.00	0.00
Debt to NOPAT	0.00	0.00	-11.73	-16.59	-5.86	-3.44	-1.47	0.00	0.00
Net Debt to NOPAT	0.00	0.00	-0.02	4.14	1.25	3.18	1.66	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	-16.59	-5.70	-3.44	-1.47	0.00	0.00
Altman Z-Score	6.23	4.26	2.82	6.52	12.58	5.81	4.02	0.45	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.56%	0.39%	0.00%	66.51%	262.15%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.81	0.94	0.74	0.96	1.06	1.36	1.91	1.12	0.00
Quick Ratio	0.59	0.74	0.56	0.91	1.00	1.29	1.83	1.02	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-160	311	-584	37	-183	-132	-467	12	0.00
Operating Cash Flow to CapEx	1,048.86%	1,060.20%	652.59%	824.92%	360.40%	160.59%	250.18%	290.45%	-11.05%
Free Cash Flow to Firm to Interest Expense	-103.42	45.38	-91.36	5.75	-2.83	-4.50	-43.04	19.91	0.00
Operating Cash Flow to Interest Expense	656.30	143.12	79.32	78.61	4.60	3.95	7.02	88.11	-7.84
Operating Cash Flow Less CapEx to Interest Expense	593.73	129.62	67.16	69.08	3.32	1.49	4.21	57.77	-78.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.92	0.91	0.86	0.69	0.56	0.63	0.84	0.00
Accounts Receivable Turnover	6.85	5.78	5.25	5.51	5.18	4.72	4.70	4.19	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.93	12.41	13.08	12.05	9.91	9.54	10.10	8.23	0.00
Accounts Payable Turnover	25.00	26.37	13.89	10.35	11.11	10.19	8.89	4.99	0.00
Days Sales Outstanding (DSO)	53.27	63.18	69.48	66.21	70.51	77.27	77.66	87.11	0.00
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)	14.60	13.84	26.28	35.28	32.84	35.82	41.07	73.18	0.00
Cash Conversion Cycle (CCC)	38.67	49.35	43.20	30.93	37.67	41.46	36.59	13.93	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	1,354	333	618	96	177	116	120	-49	0.00
Invested Capital Turnover	3.53	5.81	7.04	15.45	9.94	8.27	19.72	-21.35	0.00
Increase / (Decrease) in Invested Capital	1,021	-286	522	-80	61	-3.92	168	-49	0.00
Enterprise Value (EV)	18,893	11,627	12,194	24,708	43,298	13,658	7,677	919	0.00
Market Capitalization	19,542	12,424	12,193	24,887	43,447	14,089	8,172	629	629
Book Value per Share	$9.91	$5.54	$3.07	$1.39	$1.75	$3.04	$3.72	($10.49)	$0.00
Tangible Book Value per Share	$7.29	$3.56	$0.96	($0.90)	($0.78)	$1.64	$2.09	($12.08)	$0.00
Total Capital	2,003	1,130	1,340	994	1,043	1,012	1,053	209	0.00
Total Debt	0.00	0.00	723	718	714	465	439	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	718	693	465	439	0.00	0.00
Net Debt	-649	-797	0.99	-179	-153	-431	-495	-257	0.00
Capital Expenditures (CapEx)	97	92	78	61	82	72	30	19	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-991	-890	-576	-855	-684	-406	-301	-212	0.00
Debt-free Net Working Capital (DFNWC)	-343	-93	146	-52	90	250	468	45	0.00
Net Working Capital (NWC)	-343	-93	-577	-52	69	250	468	45	0.00
Net Nonoperating Expense (NNE)	-207	-49	36	27	122	73	128	16	34
Net Nonoperating Obligations (NNO)	-649	-797	0.99	-179	-153	-431	-495	-257	0.00
Total Depreciation and Amortization (D&A)	346	300	276	231	198	146	90	62	51
Debt-free, Cash-free Net Working Capital to Revenue	-33.30%	-32.22%	-22.91%	-40.57%	-47.06%	-41.71%	-42.97%	-40.98%	0.00%
Debt-free Net Working Capital to Revenue	-11.51%	-3.37%	5.79%	-2.47%	6.17%	25.66%	66.79%	8.67%	0.00%
Net Working Capital to Revenue	-11.51%	-3.37%	-22.95%	-2.47%	4.76%	25.66%	66.79%	8.67%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.23	$0.36	($0.49)	($0.36)	($1.31)	($1.18)	($3.16)	($1.66)	($4.17)
Adjusted Weighted Average Basic Shares Outstanding	204.33M	204.07M	200.90M	196.68M	193.09M	362.91M	169.90M	32.29M	28.02M
Adjusted Diluted Earnings per Share	$5.08	$0.36	($0.49)	($0.36)	($1.31)	($1.18)	($3.16)	($1.66)	($4.17)
Adjusted Weighted Average Diluted Shares Outstanding	210.34M	208.95M	200.90M	196.68M	193.09M	362.91M	169.90M	32.29M	28.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($1.31)	($1.18)	($3.16)	($1.66)	($4.17)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	202.49M	205.42M	201.90M	198.87M	185.76M	176.70M	135.16M	32.29M	28.02M
Normalized Net Operating Profit after Tax (NOPAT)	161	49	-42	-43	-122	-135	-298	-36	-81
Normalized NOPAT Margin	5.40%	1.77%	-1.66%	-2.06%	-8.38%	-13.91%	-42.57%	-6.97%	-21.25%
Pre Tax Income Margin	8.33%	3.39%	-3.57%	-3.18%	-15.79%	-20.90%	-61.09%	-9.48%	-30.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	160.96	14.69	-13.07	-9.39	-2.56	-5.96	-38.49	-77.75	-187.31
NOPAT to Interest Expense	555.54	3.65	-9.65	-6.72	-1.89	-4.63	-27.52	-57.94	-132.69
EBIT Less CapEx to Interest Expense	98.39	1.19	-25.22	-18.91	-3.83	-8.42	-41.29	-108.09	-258.22
NOPAT Less CapEx to Interest Expense	492.97	-9.85	-21.80	-16.25	-3.16	-7.09	-30.32	-88.28	-203.60
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	64.01%	196.70%	-64.69%	0.00%	0.00%	0.00%	-0.94%	-0.60%	0.00%

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

Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.97%	7.77%	7.03%	7.30%	8.01%	8.51%	10.53%	12.35%	13.56%	18.33%	21.56%
EBITDA Growth	48.97%	44.58%	55.75%	44.61%	33.50%	171.81%	261.74%	87.21%	114.52%	-24.70%	-10.49%
EBIT Growth	117.12%	92.55%	200.96%	383.76%	344.10%	240.58%	160.04%	131.81%	125.48%	-519.15%	-69.33%
NOPAT Growth	717.27%	140.86%	32,726.90%	4,786.73%	3,677.65%	211.32%	107.56%	96.69%	98.56%	-716.89%	-81.73%
Net Income Growth	206.49%	60.86%	11,910.97%	6,163.45%	460.17%	229.93%	116.40%	101.97%	115.97%	-426.18%	-76.77%
EPS Growth	176.92%	57.89%	10,550.00%	0.00%	550.00%	226.67%	118.18%	100.00%	112.50%	-400.00%	-69.23%
Operating Cash Flow Growth	13.75%	-11.30%	4.36%	9.07%	97.51%	402.84%	74.57%	19.03%	56.12%	-50.16%	-31.96%
Free Cash Flow Firm Growth	-421.35%	-859.15%	86.79%	144.43%	156.42%	122.04%	-2,032.78%	-607.33%	-932.51%	-398.99%	-82.90%
Invested Capital Growth	307.02%	196.09%	141.83%	-40.03%	-46.19%	-16.52%	358,220.00%	8,475.91%	542.50%	799.65%	-100.27%
Revenue Q/Q Growth	2.84%	2.55%	3.72%	-0.39%	1.71%	1.85%	3.98%	0.27%	2.19%	3.74%	5.69%
EBITDA Q/Q Growth	0.38%	2.65%	35.69%	6.54%	-2.58%	10.58%	25.98%	-1.64%	98.36%	47.17%	-34.80%
EBIT Q/Q Growth	-5.20%	-0.55%	97.16%	16.81%	-15.93%	55.45%	216.92%	7.23%	126.61%	33.62%	-67.90%
NOPAT Q/Q Growth	44.45%	-92.79%	3,320.98%	129.42%	-57.43%	882.48%	588.42%	-75.13%	98.68%	33.24%	-113.72%
Net Income Q/Q Growth	33.75%	-92.97%	2,530.96%	23.93%	-29.80%	424.75%	1,271.99%	-88.92%	116.28%	33.75%	-64.68%
EPS Q/Q Growth	20.00%	-92.96%	2,562.50%	23.08%	-31.58%	375.00%	0.00%	-100.00%	113.33%	31.82%	-57.14%
Operating Cash Flow Q/Q Growth	31.40%	6.41%	-13.59%	-5.86%	2.47%	25.19%	-9.68%	70.47%	160.88%	-56.54%	-38.42%
Free Cash Flow Firm Q/Q Growth	-9.93%	-1,078.68%	-131.20%	-20.51%	159.70%	120.52%	-4.90%	-0.94%	-1.44%	-1,899.35%	-72.46%
Invested Capital Q/Q Growth	-1.77%	2.69%	319.99%	-3.93%	-28.54%	-16.13%	4.15%	-13.79%	10.87%	359,885.81%	-102.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	79.36%	79.26%	78.88%	78.94%	79.24%	79.63%	78.83%	79.36%	79.16%	79.93%	78.03%
EBITDA Margin	20.82%	21.33%	21.31%	16.29%	15.23%	15.90%	14.64%	12.09%	12.32%	6.35%	4.47%
Operating Margin	7.79%	7.82%	7.85%	3.19%	1.39%	2.82%	0.96%	-0.70%	-0.04%	-4.25%	-6.60%
EBIT Margin	8.80%	9.54%	9.84%	5.18%	4.41%	5.34%	3.50%	1.15%	1.07%	-4.12%	-6.44%
Profit (Net Income) Margin	10.76%	8.27%	120.68%	4.76%	3.82%	5.54%	1.08%	0.08%	0.74%	-4.63%	-7.25%
Tax Burden Percent	122.99%	87.21%	1,235.57%	92.26%	91.59%	108.29%	32.90%	9.58%	89.56%	106.41%	108.05%
Interest Burden Percent	99.41%	99.36%	99.25%	99.61%	94.57%	95.78%	93.39%	74.11%	76.67%	105.47%	104.07%
Effective Tax Rate	-22.99%	12.79%	-1,135.57%	7.74%	8.41%	-8.29%	67.10%	90.42%	10.44%	0.00%	0.00%
Return on Invested Capital (ROIC)	33.81%	21.55%	292.35%	19.39%	7.42%	16.16%	3.03%	-0.65%	-0.27%	-23.40%	-378.65%
ROIC Less NNEP Spread (ROIC-NNEP)	32.55%	19.58%	254.17%	16.90%	2.86%	7.66%	1.53%	-1.00%	-6.01%	0.72%	-372.85%
Return on Net Nonoperating Assets (RNNOA)	-15.02%	-7.36%	-82.49%	-9.26%	-1.30%	-2.19%	-0.86%	0.51%	1.20%	-0.09%	338.47%
Return on Equity (ROE)	18.79%	14.19%	209.86%	10.13%	6.12%	13.97%	2.17%	-0.14%	0.93%	-23.49%	-40.18%
Cash Return on Invested Capital (CROIC)	-19.01%	-20.88%	-17.10%	61.94%	65.32%	21.12%	-85.54%	-214.46%	-163.38%	-185.50%	0.00%
Operating Return on Assets (OROA)	7.50%	7.82%	8.01%	4.80%	4.08%	4.77%	3.13%	1.04%	0.97%	-3.91%	-6.00%
Return on Assets (ROA)	9.17%	6.78%	98.26%	4.41%	3.53%	4.95%	0.96%	0.07%	0.67%	-4.39%	-6.74%
Return on Common Equity (ROCE)	18.79%	14.19%	209.86%	10.13%	6.12%	13.97%	2.17%	-0.14%	0.93%	-23.49%	-40.18%
Return on Equity Simple (ROE_SIMPLE)	0.00%	50.85%	50.37%	9.43%	0.00%	5.35%	-2.01%	-9.28%	0.00%	-28.34%	-26.67%
Net Operating Profit after Tax (NOPAT)	74	51	714	21	9.10	21	2.18	-0.45	-0.25	-19	-29
NOPAT Margin	9.58%	6.82%	97.03%	2.94%	1.28%	3.05%	0.32%	-0.07%	-0.04%	-2.97%	-4.62%
Net Nonoperating Expense Percent (NNEP)	1.26%	1.97%	38.18%	2.49%	4.56%	8.50%	1.49%	0.35%	5.74%	-24.12%	-5.81%
Return On Investment Capital (ROIC_SIMPLE)	3.71%	-	-	-	0.81%	-	-	-	-0.02%	-	-
Cost of Revenue to Revenue	20.64%	20.74%	21.12%	21.06%	20.76%	20.37%	21.17%	20.64%	20.84%	20.07%	21.97%
SG&A Expenses to Revenue	12.73%	12.92%	11.84%	13.03%	14.42%	15.45%	15.11%	15.85%	13.89%	13.25%	12.29%
R&D to Revenue	20.03%	20.02%	20.05%	18.93%	21.27%	19.51%	19.77%	17.44%	19.09%	17.96%	20.34%
Operating Expenses to Revenue	71.57%	71.44%	71.02%	75.75%	77.84%	76.82%	77.87%	80.07%	79.21%	84.18%	84.63%
Earnings before Interest and Taxes (EBIT)	68	72	72	37	31	37	24	7.59	7.08	-27	-40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	162	161	157	116	108	111	101	80	81	41	28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.76	7.08	5.79	10.23	11.00	8.19	12.85	13.32	19.75	20.70	31.42
Price to Tangible Book Value (P/TBV)	13.28	9.71	8.02	15.75	17.12	14.16	25.09	30.16	63.05	237.39	0.00
Price to Revenue (P/Rev)	6.56	4.83	3.97	4.14	4.50	2.92	4.10	3.86	4.85	3.98	5.47
Price to Earnings (P/E)	18.30	13.92	11.50	108.46	167.93	153.11	0.00	0.00	0.00	0.00	0.00
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	5.46%	7.18%	8.70%	0.92%	0.60%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	13.95	9.77	8.00	33.82	34.95	15.90	19.09	18.32	19.72	17.55	0.00
Enterprise Value to Revenue (EV/Rev)	6.35	4.62	3.76	3.85	4.21	2.73	3.99	3.77	4.85	4.02	5.30
Enterprise Value to EBITDA (EV/EBITDA)	31.75	24.86	21.81	24.78	29.03	19.83	34.99	42.46	63.25	65.51	76.06
Enterprise Value to EBIT (EV/EBIT)	75.73	63.35	60.32	83.36	115.66	97.19	873.63	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	21.94	18.70	17.18	213.33	465.40	464.59	131.79	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.57	13.75	10.63	10.80	11.87	8.75	16.71	17.95	24.06	21.39	24.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	40.94	37.43	68.51	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.71	0.86	0.97	1.17	1.54	1.77
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.46	1.77
Financial Leverage	-0.46	-0.38	-0.32	-0.55	-0.46	-0.29	-0.56	-0.51	-0.20	-0.12	-0.91
Leverage Ratio	2.23	2.41	2.50	3.21	3.43	4.23	4.73	5.19	6.22	7.26	8.11
Compound Leverage Factor	2.22	2.39	2.48	3.20	3.24	4.06	4.42	3.85	4.77	7.66	8.45
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	41.66%	46.10%	49.13%	53.94%	60.64%	63.90%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	41.66%	46.10%	49.13%	53.94%	3.10%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	57.54%	63.90%
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	100.00%	100.00%	100.00%	100.00%	100.00%	58.34%	53.90%	50.87%	46.06%	39.36%	36.10%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	1.85	2.39	3.15	3.75	4.83	4.43
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-1.34	-0.97	-0.94	0.01	0.60	-2.50
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.58	4.43
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	43.26	9.02	-14.08	-11.73	-9.13	-11.59
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-31.35	-3.64	4.21	-0.02	-1.13	6.55
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.66	-11.59
Altman Z-Score	6.08	5.05	4.13	4.00	4.19	2.08	2.72	2.47	2.92	2.62	3.43
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	0.81	0.83	0.84	0.93	0.94	0.93	0.88	0.82	0.74	1.02	1.01
Quick Ratio	0.59	0.57	0.58	0.70	0.74	0.71	0.64	0.61	0.56	0.73	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-947	-861	-73	234	295	113	-553	-527	-522	-515	29
Operating Cash Flow to CapEx	1,086.42%	992.36%	988.37%	1,119.97%	1,224.10%	1,108.08%	770.72%	1,225.98%	569.55%	318.85%	784.72%
Free Cash Flow to Firm to Interest Expense	-2,367.56	-1,864.63	-134.35	1,626.79	172.44	71.96	-347.40	-268.17	-316.16	-353.63	17.53
Operating Cash Flow to Interest Expense	769.78	507.20	404.79	1,769.63	158.40	167.52	132.55	118.84	82.96	36.08	74.07
Operating Cash Flow Less CapEx to Interest Expense	698.93	456.09	363.84	1,611.62	145.46	152.40	115.35	109.14	68.40	24.77	64.63
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.82	0.81	0.93	0.92	0.89	0.89	0.91	0.91	0.95	0.93
Accounts Receivable Turnover	6.85	8.81	7.89	7.86	5.78	6.92	7.04	7.30	5.25	6.69	7.49
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	10.93	11.43	11.75	12.17	12.41	12.69	13.04	13.28	13.08	13.03	12.98
Accounts Payable Turnover	25.00	37.01	85.56	36.16	26.37	18.14	21.85	26.41	13.89	11.17	13.23
Days Sales Outstanding (DSO)	53.27	41.41	46.26	46.42	63.18	52.75	51.86	50.02	69.48	54.53	48.75
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)	14.60	9.86	4.27	10.09	13.84	20.12	16.70	13.82	26.28	32.67	27.58
Cash Conversion Cycle (CCC)	38.67	31.54	42.00	36.33	49.35	32.64	35.16	36.20	43.20	21.86	21.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,354	1,379	1,342	320	333	466	555	533	618	558	-0.16
Invested Capital Turnover	3.53	3.16	3.01	6.59	5.81	5.30	9.57	9.60	7.04	7.87	81.91
Increase / (Decrease) in Invested Capital	1,021	913	787	-213	-286	-92	555	527	522	496	-57
Enterprise Value (EV)	18,893	13,471	10,739	10,809	11,627	7,401	10,599	9,766	12,194	9,787	12,385
Market Capitalization	19,542	14,082	11,358	11,626	12,424	7,901	10,892	9,982	12,193	9,698	12,792
Book Value per Share	$9.91	$9.80	$9.58	$5.54	$5.54	$4.75	$4.19	$3.71	$3.07	$2.33	$2.04
Tangible Book Value per Share	$7.29	$7.15	$6.92	$3.59	$3.56	$2.75	$2.15	$1.64	$0.96	$0.20	($0.14)
Total Capital	2,003	1,989	1,961	1,137	1,130	1,654	1,573	1,473	1,340	1,190	1,128
Total Debt	0.00	0.00	0.00	0.00	0.00	689	725	724	723	722	721
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	685	721
Net Debt	-649	-611	-619	-817	-797	-499	-293	-216	0.99	89	-407
Capital Expenditures (CapEx)	28	24	22	23	22	24	27	19	24	16	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-991	-878	-883	-933	-890	-646	-570	-608	-576	-565	-974
Debt-free Net Working Capital (DFNWC)	-343	-267	-264	-115	-93	543	448	333	146	68	21
Net Working Capital (NWC)	-343	-267	-264	-115	-93	-147	-277	-391	-577	31	21
Net Nonoperating Expense (NNE)	-9.12	-11	-174	-13	-18	-17	-5.22	-0.98	-5.12	11	16
Net Nonoperating Obligations (NNO)	-649	-611	-619	-817	-797	-499	-293	-216	0.99	89	-407
Total Depreciation and Amortization (D&A)	93	89	84	79	77	74	77	72	74	68	68
Debt-free, Cash-free Net Working Capital to Revenue	-33.30%	-30.13%	-30.89%	-33.19%	-32.22%	-23.85%	-21.48%	-23.48%	-22.91%	-23.18%	-41.68%
Debt-free Net Working Capital to Revenue	-11.51%	-9.16%	-9.23%	-4.10%	-3.37%	20.03%	16.86%	12.85%	5.79%	2.78%	0.88%
Net Working Capital to Revenue	-11.51%	-9.16%	-9.23%	-4.10%	-3.37%	-5.41%	-10.46%	-15.12%	-22.95%	1.27%	0.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.31	$4.34	$0.16	$0.13	$0.19	$0.04	$0.00	$0.02	($0.15)	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	204.33M	203.57M	204.60M	205.87M	204.07M	204.46M	203.70M	202.63M	200.90M	201.39M	200.62M
Adjusted Diluted Earnings per Share	$0.36	$0.30	$4.26	$0.16	$0.13	$0.19	$0.04	$0.00	$0.02	($0.15)	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	210.34M	208.71M	208.27M	209.90M	208.95M	208.05M	208.19M	208.07M	200.90M	201.39M	200.62M
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	202.49M	202.02M	202.97M	204.72M	205.42M	203.93M	203.21M	202.37M	201.90M	201.07M	200.78M
Normalized Net Operating Profit after Tax (NOPAT)	42	51	41	48	9.18	14	5.20	17	-0.03	0.46	-29
Normalized NOPAT Margin	5.45%	6.82%	5.55%	6.73%	1.29%	2.04%	0.76%	2.55%	0.00%	0.07%	-4.62%
Pre Tax Income Margin	8.75%	9.48%	9.77%	5.16%	4.18%	5.12%	3.27%	0.85%	0.82%	-4.35%	-6.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	170.72	155.92	133.15	255.12	18.40	23.72	15.12	3.86	4.29	-18.28	-24.56
NOPAT to Interest Expense	185.92	111.43	1,312.81	144.97	5.32	13.55	1.37	-0.23	-0.15	-13.19	-17.62
EBIT Less CapEx to Interest Expense	99.86	104.81	92.19	97.11	5.46	8.60	-2.08	-5.83	-10.28	-29.59	-34.00
NOPAT Less CapEx to Interest Expense	115.06	60.32	1,271.86	-13.03	-7.62	-1.56	-15.83	-9.92	-14.72	-24.50	-27.06
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	64.01%	51.58%	42.93%	237.04%	196.70%	281.99%	-635.74%	-148.85%	-64.69%	-47.48%	-23.03%

Frequently Asked Questions About DocuSign's Financials

When does DocuSign's financial year end?

According to the most recent income statement we have on file, DocuSign's fiscal year ends in January. Their fiscal 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. Check out DocuSign's forecast to explore projected trends and price targets.

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 5/20/2025 by MarketBeat.com Staff

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DocuSign (DOCU) Financials

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