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DigitalOcean (DOCN) Financials

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$132.13 +2.21 (+1.70%)
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Annual Income Statements for DigitalOcean

Annual Income Statements for DigitalOcean

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -40 -44 -20 -28 19 84 259
Consolidated Net Income / (Loss)		 -40 -44 -20 -28 19 84 259
Net Income / (Loss) Continuing Operations		 -40 -44 -20 -28 19 84 259
Total Pre-Tax Income 		-40 -43 -18 -24 27 98 207
Total Operating Income		 -30 -16 -11 -26 12 91 157
Total Gross Profit		 133 173 258 364 397 466 540
Total Revenue		 255 318 429 576 693 781 901
Operating Revenue		 255 318 429 576 693 781 901
Total Cost of Revenue		 122 146 171 212 295 315 362
Operating Cost of Revenue		 122 146 171 212 295 315 362
Total Operating Expenses		 162 189 269 390 386 375 383
Selling, General & Admin Expense		 71 80 103 165 163 161 139
Marketing Expense		 31 33 51 81 65 72 82
Research & Development Expense		 60 75 116 144 137 142 162
Restructuring Charge		 - - 0.00 0.00 21 0.00 0.00
Total Other Income / (Expense), net		 -9.69 -27 -7.02 1.81 15 6.69 50
Interest Expense		 9.36 14 7.18 8.80 8.95 9.11 -30
Other Income / (Expense), net		 -0.34 -13 0.16 11 24 16 20
Income Tax Expense		 0.79 0.91 1.30 3.92 7.37 13 -53
Basic Earnings per Share		 ($1.06) ($1.05) ($0.21) ($0.28) $0.22 $0.92 $2.83
Weighted Average Basic Shares Outstanding		 38.00M 41.66M 93.22M 100.81M 90.14M 91.63M 91.48M
Diluted Earnings per Share		 ($1.06) ($1.05) ($0.21) ($0.28) $0.20 $0.89 $2.52
Weighted Average Diluted Shares Outstanding		 38.00M 41.66M 93.22M 100.81M 96.42M 94.50M 105.34M
Weighted Average Basic & Diluted Shares Outstanding		 - - 215.23M 96.96M 90.80M 92.07M 92.00M

Quarterly Income Statements for DigitalOcean

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 16 14 19 33 18 38 37 158 26 16 35
Consolidated Net Income / (Loss)		 16 14 19 33 18 38 37 158 26 16 35
Net Income / (Loss) Continuing Operations		 16 14 19 33 18 38 37 158 26 16 35
Total Pre-Tax Income 		14 14 25 30 29 41 42 90 33 24 27
Total Operating Income		 11 12 22 25 33 38 36 45 39 37 29
Total Gross Profit		 95 109 114 117 117 129 131 137 142 145 155
Total Revenue		 181 185 192 198 205 211 219 230 242 258 281
Operating Revenue		 181 185 192 198 205 211 219 230 242 258 281
Total Cost of Revenue		 86 76 78 82 88 81 88 93 100 113 127
Operating Cost of Revenue		 86 76 78 82 88 81 88 93 100 113 127
Total Operating Expenses		 84 98 92 92 85 92 95 92 103 108 125
Selling, General & Admin Expense		 45 46 41 40 34 33 36 33 37 38 45
Marketing Expense		 12 19 18 15 14 19 19 21 23 22 23
Research & Development Expense		 27 33 33 36 37 40 40 38 44 49 58
Total Other Income / (Expense), net		 2.55 2.72 2.48 5.04 -3.54 3.74 6.83 45 -6.28 -12 -2.23
Interest Expense		 2.31 2.30 2.32 2.26 2.23 2.21 2.51 -43 8.45 13 7.46
Other Income / (Expense), net		 4.86 5.02 4.80 7.30 -1.32 5.95 9.34 2.05 2.18 1.18 5.23
Income Tax Expense		 -2.41 0.12 5.67 -3.31 11 3.18 5.42 -68 6.86 8.73 -8.30
Basic Earnings per Share		 $0.16 $0.16 $0.21 $0.36 $0.19 $0.42 $0.41 $1.74 $0.26 $0.17 $0.34
Weighted Average Basic Shares Outstanding		 90.14M 90.79M 91.32M 92.15M 91.63M 91.99M 91.10M 91.19M 91.48M 93.04M 104.61M
Diluted Earnings per Share		 $0.16 $0.15 $0.20 $0.33 $0.21 $0.39 $0.39 $1.51 $0.23 $0.15 $0.29
Weighted Average Diluted Shares Outstanding		 96.42M 93.79M 93.83M 102.59M 94.50M 102.32M 100.62M 105.52M 105.34M 111.92M 126.55M
Weighted Average Basic & Diluted Shares Outstanding		 90.80M 91.09M 92.06M 92.28M 92.07M 91.03M 91.04M 91.49M 92.00M 104.36M 117.58M

Annual Cash Flow Statements for DigitalOcean

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 2.32 67 1,613 -1,564 167 111 -176
Net Cash From Operating Activities		 40 58 133 195 235 283 310
Net Cash From Continuing Operating Activities		 40 58 133 195 235 283 310
Net Income / (Loss) Continuing Operations		 -40 -44 -20 -28 19 84 259
Consolidated Net Income / (Loss)		 -40 -44 -20 -28 19 84 259
Depreciation Expense		 63 76 88 102 118 130 137
Amortization Expense		 - 0.00 0.00 -6.14 1.87 2.57 0.00
Non-Cash Adjustments To Reconcile Net Income		 31 56 72 144 118 121 36
Changes in Operating Assets and Liabilities, net		 -13 -30 -7.84 -17 -23 -55 -123
Net Cash From Investing Activities		 -87 -116 -114 -1,148 401 -95 -268
Net Cash From Continuing Investing Activities		 -87 -116 -114 -1,148 401 -95 -268
Purchase of Property, Plant & Equipment		 -70 -111 -103 -115 -125 -187 -267
Acquisitions		 -17 -5.12 -11 -315 -102 0.00 -1.84
Purchase of Investments		 - 0.00 0.00 -1,695 -352 0.00 0.00
Sale of Property, Plant & Equipment		 0.04 0.17 0.49 0.98 0.24 0.04 0.23
Sale and/or Maturity of Investments		 - 0.00 0.00 978 980 92 0.00
Other Investing Activities, net		 - 0.00 0.00 -1.58 -0.15 0.00 0.00
Net Cash From Financing Activities		 50 124 1,593 -610 -469 -76 -217
Net Cash From Continuing Financing Activities		 50 124 1,593 -610 -469 -76 -217
Repayment of Debt		 -27 -176 -263 -1.52 -2.26 -5.48 -1,140
Repurchase of Common Equity		 0.00 0.00 -350 -600 -488 -60 -82
Issuance of Debt		 71 238 1,462 - 0.00 0.00 982
Issuance of Common Equity		 5.82 13 748 19 43 17 9.01
Other Financing Activities, net		 0.00 0.00 -3.19 -28 -22 -28 14
Effect of Exchange Rate Changes		 - -0.20 0.01 -0.25 -0.02 -0.26 0.03
Cash Interest Paid		 8.83 12 2.34 0.48 0.92 1.05 9.69
Cash Income Taxes Paid		 0.31 0.61 0.92 4.57 2.72 20 6.28

Quarterly Cash Flow Statements for DigitalOcean

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 238 102 24 -3.24 -11 -68 27 -153 18 487 26
Net Cash From Operating Activities		 81 67 71 73 71 64 92 96 57 47 110
Net Cash From Continuing Operating Activities		 81 67 71 73 71 64 92 96 57 47 110
Net Income / (Loss) Continuing Operations		 16 14 19 33 18 38 37 158 26 16 35
Consolidated Net Income / (Loss)		 16 14 19 33 18 38 37 158 26 16 35
Depreciation Expense		 31 32 33 36 29 29 33 35 40 45 51
Non-Cash Adjustments To Reconcile Net Income		 29 32 25 29 34 16 15 -16 20 21 21
Changes in Operating Assets and Liabilities, net		 0.84 -14 -6.04 -24 -10 -20 7.28 -82 -29 -35 2.33
Net Cash From Investing Activities		 153 46 -34 -60 -47 -65 -35 -38 -130 -61 -89
Net Cash From Continuing Investing Activities		 153 46 -34 -60 -47 -65 -35 -38 -130 -49 -101
Purchase of Property, Plant & Equipment		 -54 -45 -34 -60 -47 -64 -35 -39 -130 -45 -100
Acquisitions		 0.32 0.00 - - - -0.98 -0.85 - - -4.04 -0.75
Net Cash From Financing Activities		 4.43 -11 -13 -17 -35 -67 -30 -210 90 501 4.81
Net Cash From Continuing Financing Activities		 4.43 -11 -13 -17 -35 -67 -30 -210 90 489 17
Repayment of Debt		 -1.31 -1.36 -1.36 -1.38 -1.38 -1.35 -5.46 -1,129 -4.14 -510 -12
Issuance of Common Equity		 25 5.67 4.51 3.94 3.04 1.94 3.49 0.86 2.72 890 4.17
Other Financing Activities, net		 -5.98 -6.79 -6.68 -7.70 -7.18 -8.72 -7.58 -62 92 -11 24
Cash Interest Paid		 0.32 0.17 0.40 0.25 0.22 0.20 0.05 2.47 6.97 9.53 4.82
Cash Income Taxes Paid		 0.69 1.00 7.98 4.47 6.23 0.18 5.58 -0.85 1.37 1.91 0.62

Annual Balance Sheets for DigitalOcean

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 430 2,101 1,816 1,461 1,639 1,838
Total Current Assets		 148 1,770 946 503 542 427
Cash & Equivalents		 100 1,713 141 317 428 254
Accounts Receivable		 28 40 54 62 72 91
Prepaid Expenses		 20 17 28 29 41 82
Plant, Property, & Equipment, net		 239 250 273 305 433 589
Total Noncurrent Assets		 43 81 596 653 665 822
Goodwill		 2.67 32 315 348 349 349
Intangible Assets		 35 43 119 140 118 100
Noncurrent Deferred & Refundable Income Taxes		 0.08 0.09 0.75 1.99 0.20 90
Other Noncurrent Operating Assets		 3.71 4.09 160 160 196 283
Total Liabilities & Shareholders' Equity		 430 2,101 1,816 1,461 1,639 1,838
Total Liabilities		 329 1,523 1,768 1,775 1,842 1,866
Total Current Liabilities		 85 58 166 193 221 619
Short-Term Debt		 17 - - 81 0.00 325
Accounts Payable		 12 13 21 3.96 55 39
Accrued Expenses		 27 32 34 31 38 43
Current Deferred Revenue		 4.87 4.83 5.55 5.34 5.40 5.88
Other Current Liabilities		 23 8.85 105 71 123 207
Total Noncurrent Liabilities		 244 1,465 1,603 1,582 1,621 1,247
Long-Term Debt		 242 1,463 1,470 1,478 1,485 971
Capital Lease Obligations		 - - - 91 1.10 99
Noncurrent Deferred & Payable Income Tax Liabilities		 0.21 0.42 21 3.53 4.12 4.09
Other Noncurrent Operating Liabilities		 2.06 1.46 112 9.53 130 173
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -72 578 48 -314 -203 -29
Total Preferred & Common Equity		 -72 578 48 -314 -203 -29
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -72 578 48 -314 -203 -29
Common Stock		 100 770 264 31 57 16
Retained Earnings		 -167 -187 -214 -344 -259 -44
Accumulated Other Comprehensive Income / (Loss)		 -0.25 -0.37 -2.05 -0.45 -1.50 -0.96

Quarterly Balance Sheets for DigitalOcean

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

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,584 1,498 1,425 1,486 1,537 1,526 1,642 1,720 1,726 2,570 3,123
Total Current Assets		 699 642 471 516 544 552 479 510 368 944 1,018
Cash & Equivalents		 21 120 79 419 443 440 360 388 237 741 767
Accounts Receivable		 55 57 60 64 67 69 77 81 84 105 115
Prepaid Expenses		 31 34 27 33 33 43 42 41 47 97 136
Plant, Property, & Equipment, net		 278 271 285 322 367 371 446 466 521 754 1,049
Total Noncurrent Assets		 607 585 669 648 626 603 717 745 838 872 1,056
Goodwill		 297 297 348 348 349 349 349 349 349 351 351
Intangible Assets		 118 114 146 134 129 123 114 109 104 98 93
Noncurrent Deferred & Refundable Income Taxes		 0.75 0.75 0.73 1.95 1.94 2.04 0.54 0.59 92 84 94
Other Noncurrent Operating Assets		 191 172 172 161 145 128 252 284 292 340 518
Total Liabilities & Shareholders' Equity		 1,584 1,498 1,425 1,486 1,537 1,526 1,642 1,720 1,726 2,570 3,123
Total Liabilities		 1,787 1,765 1,784 1,772 1,791 1,738 1,852 1,895 1,795 1,683 2,192
Total Current Liabilities		 171 167 184 189 220 176 198 225 325 647 776
Short-Term Debt		 - - - 81 74 68 93 98 9.50 311 312
Accounts Payable		 11 9.60 14 4.54 9.47 13 9.42 31 68 32 10
Accrued Expenses		 38 28 25 24 56 28 43 35 47 57 71
Current Deferred Revenue		 5.02 4.99 5.09 5.48 6.80 5.58 5.64 11 8.59 6.28 53
Other Current Liabilities		 116 125 140 73 74 61 48 49 193 241 330
Total Noncurrent Liabilities		 1,616 1,598 1,600 1,583 1,570 1,562 1,654 1,670 1,470 1,036 1,416
Long-Term Debt		 1,472 1,474 1,476 1,480 1,482 1,483 1,487 1,489 1,284 608 609
Capital Lease Obligations		 - - - 95 83 74 162 176 21 208 448
Noncurrent Deferred & Payable Income Tax Liabilities		 4.38 5.28 6.64 3.52 3.51 3.52 4.46 4.58 4.50 4.00 3.95
Other Noncurrent Operating Liabilities		 140 119 117 4.32 2.34 1.63 0.71 0.55 160 215 355
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -203 -268 -359 -286 -254 -212 -211 -175 -70 887 931
Total Preferred & Common Equity		 -203 -268 -359 -286 -254 -212 -211 -175 -70 887 931
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -203 -268 -359 -286 -254 -212 -211 -175 -70 887 931
Common Stock		 29 0.00 0.00 45 57 66 11 8.89 0.72 917 925
Retained Earnings		 -231 -267 -358 -330 -310 -277 -221 -184 -69 -28 7.47
Accumulated Other Comprehensive Income / (Loss)		 -0.68 -0.95 -1.02 -0.59 -0.58 -0.40 -1.20 -0.59 -0.94 -1.58 -1.76

Annual Metrics And Ratios for DigitalOcean

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 24.94% 34.61% 34.48% 20.23% 12.66% 15.48%
EBITDA Growth		 0.00% 42.47% 65.33% 4.74% 91.88% 54.02% 31.12%
EBIT Growth		 0.00% 4.80% 61.71% -36.84% 336.85% 199.02% 65.24%
NOPAT Growth		 0.00% 47.20% 29.16% -129.72% 147.94% 812.73% 150.23%
Net Income Growth		 0.00% -7.87% 55.24% -42.56% 169.81% 335.32% 206.85%
EPS Growth		 0.00% 0.94% 80.00% -33.33% 171.43% 345.00% 183.15%
Operating Cash Flow Growth		 0.00% 46.50% 127.70% 46.61% 20.39% 20.34% 9.51%
Free Cash Flow Firm Growth		 0.00% 0.00% 72.08% -358.02% 23.66% 78.44% -141.28%
Invested Capital Growth		 0.00% 0.00% 26.08% 100.24% 41.65% 14.67% 30.26%
Revenue Q/Q Growth		 0.00% 0.00% 8.11% 8.13% 2.65% 3.18% 4.34%
EBITDA Q/Q Growth		 0.00% 0.00% -9.94% 16.10% 26.34% 4.22% 7.15%
EBIT Q/Q Growth		 0.00% 0.00% -1,964.97% 38.37% 176.46% 16.82% 5.85%
NOPAT Q/Q Growth		 0.00% 0.00% -1,992.72% -5.01% -50.20% 13.41% 5.38%
Net Income Q/Q Growth		 0.00% 0.00% 8.13% 5.91% 380.88% 2.83% 2.94%
EPS Q/Q Growth		 0.00% 0.00% 52.27% -7.69% 350.00% 5.95% 0.80%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 12.15% 18.24% 8.14% -3.14% -4.34%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 8.14% -526.03% 66.88% -140.91%
Invested Capital Q/Q Growth		 0.00% 0.00% 3.50% -3.03% 26.22% 8.91% 10.17%
Profitability Metrics		 - - - - - - -
Gross Margin		 52.02% 54.29% 60.19% 63.23% 57.37% 59.69% 59.86%
EBITDA Margin		 12.89% 14.70% 18.05% 14.06% 22.44% 30.67% 34.83%
Operating Margin		 -11.74% -4.96% -2.61% -4.46% 1.72% 11.66% 17.42%
EBIT Margin		 -11.87% -9.04% -2.57% -2.62% 5.16% 13.68% 19.58%
Profit (Net Income) Margin		 -15.85% -13.68% -4.55% -4.82% 2.80% 10.82% 28.76%
Tax Burden Percent		 102.00% 102.14% 107.15% 116.41% 72.49% 86.48% 125.45%
Interest Burden Percent		 130.94% 148.18% 165.13% 158.37% 74.96% 91.47% 117.09%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 27.51% 13.52% -25.45%
Return on Invested Capital (ROIC)		 0.00% -8.56% -2.68% -3.68% 1.10% 7.94% 20.05%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -49.95% 21.74% -9.27% 2.27% 8.41% 25.72%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -77.73% -3.06% -5.20% -15.68% -40.65% -243.89%
Return on Equity (ROE)		 0.00% -86.29% -5.74% -8.89% -14.59% -32.71% -223.84%
Cash Return on Invested Capital (CROIC)		 0.00% -208.56% -25.76% -70.45% -33.37% -5.72% -6.24%
Operating Return on Assets (OROA)		 0.00% -6.69% -0.87% -0.77% 2.18% 6.89% 10.15%
Return on Assets (ROA)		 0.00% -10.13% -1.54% -1.42% 1.18% 5.45% 14.91%
Return on Common Equity (ROCE)		 0.00% 61.61% -4.28% -8.89% -14.59% -32.71% -223.84%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 60.43% -3.37% -58.45% -6.19% -41.63% 0.00%
Net Operating Profit after Tax (NOPAT)		 -21 -11 -7.83 -18 8.62 79 197
NOPAT Margin		 -8.21% -3.47% -1.83% -3.12% 1.24% 10.08% 21.85%
Net Nonoperating Expense Percent (NNEP)		 0.00% 41.38% -24.42% 5.59% -1.17% -0.46% -5.67%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -1.19% 0.65% 5.29% 14.42%
Cost of Revenue to Revenue		 47.98% 45.71% 39.81% 36.77% 42.63% 40.31% 40.14%
SG&A Expenses to Revenue		 27.92% 25.19% 23.94% 28.66% 23.49% 20.61% 15.37%
R&D to Revenue		 23.54% 23.55% 26.99% 24.97% 19.76% 18.25% 17.93%
Operating Expenses to Revenue		 63.76% 59.25% 62.80% 67.69% 55.65% 48.03% 42.44%
Earnings before Interest and Taxes (EBIT)		 -30 -29 -11 -15 36 107 176
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 33 47 77 81 155 239 314
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 15.17 51.56 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 17.43 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 3.04 2.44 20.46 4.26 4.55 4.03 4.88
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 162.59 37.21 16.98
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.62% 2.69% 5.89%
Enterprise Value to Invested Capital (EV/IC)		 0.00 4.29 26.18 4.69 4.76 4.16 4.99
Enterprise Value to Revenue (EV/Rev)		 0.00 3.48 19.88 5.31 6.34 5.65 6.15
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 23.68 110.13 37.76 28.27 18.41 17.66
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 123.01 41.26 31.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 509.59 56.00 28.14
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 18.95 64.00 15.67 18.70 15.59 17.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 2.57 2.53 30.91 -5.26 -8.33 -48.62
Long-Term Debt to Equity		 0.00 2.40 2.53 30.91 -5.00 -7.96 -37.29
Financial Leverage		 0.00 1.56 -0.14 0.56 -6.92 -4.84 -9.48
Leverage Ratio		 0.00 4.26 3.73 6.26 -12.31 -6.00 -15.01
Compound Leverage Factor		 0.00 6.31 6.15 9.91 -9.23 -5.49 -17.57
Debt to Total Capital		 0.00% 72.00% 71.67% 96.87% 123.47% 113.63% 102.10%
Short-Term Debt to Total Capital		 0.00% 4.84% 0.00% 0.00% 6.08% 5.09% 23.80%
Long-Term Debt to Total Capital		 0.00% 67.16% 71.67% 96.87% 117.39% 108.54% 78.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 47.99% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -19.99% 28.33% 3.13% -23.47% -13.63% -2.10%
Debt to EBITDA		 0.00 5.55 18.91 18.15 10.62 7.06 4.44
Net Debt to EBITDA		 0.00 3.41 -3.24 7.48 7.97 5.28 3.63
Long-Term Debt to EBITDA		 0.00 5.18 18.91 18.15 10.09 6.75 3.41
Debt to NOPAT		 0.00 -23.49 -186.80 -81.74 191.38 21.49 7.08
Net Debt to NOPAT		 0.00 -14.42 32.02 -33.69 143.63 16.05 5.79
Long-Term Debt to NOPAT		 0.00 -21.91 -186.80 -81.74 181.95 20.53 5.43
Altman Z-Score		 0.00 1.57 4.50 1.47 1.55 1.73 2.06
Noncontrolling Interest Sharing Ratio		 0.00% 171.39% 25.48% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 1.75 30.39 5.72 2.61 2.45 0.69
Quick Ratio		 0.00 1.51 30.10 5.55 2.46 2.27 0.56
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -269 -75 -344 -263 -57 -61
Operating Cash Flow to CapEx		 56.68% 52.90% 129.27% 170.71% 188.59% 151.61% 116.20%
Free Cash Flow to Firm to Interest Expense		 0.00 -19.41 -10.47 -39.10 -29.38 -6.22 0.00
Operating Cash Flow to Interest Expense		 4.26 4.22 18.54 22.17 26.27 31.02 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -3.26 -3.75 4.20 9.18 12.34 10.56 0.00
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.74 0.34 0.29 0.42 0.50 0.52
Accounts Receivable Turnover		 0.00 11.33 12.66 12.33 11.94 11.59 11.03
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 1.33 1.75 2.20 2.40 2.12 1.76
Accounts Payable Turnover		 0.00 11.71 13.60 12.54 23.54 10.75 7.75
Days Sales Outstanding (DSO)		 0.00 32.21 28.84 29.59 30.56 31.49 33.08
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 31.18 26.84 29.10 15.50 33.94 47.11
Cash Conversion Cycle (CCC)		 0.00 1.03 2.00 0.49 15.05 -2.46 -14.03
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 258 325 652 923 1,058 1,112
Invested Capital Turnover		 0.00 2.47 1.47 1.18 0.88 0.79 0.92
Increase / (Decrease) in Invested Capital		 0.00 258 67 326 271 135 258
Enterprise Value (EV)		 0.00 1,108 8,519 3,059 4,394 4,407 5,543
Market Capitalization		 776 776 8,769 2,453 3,156 3,144 4,403
Book Value per Share		 $0.00 ($1.73) $5.30 $0.49 ($3.65) ($2.20) ($0.31)
Tangible Book Value per Share		 $0.00 ($2.63) $4.61 ($4.01) ($9.33) ($7.25) ($5.21)
Total Capital		 0.00 361 2,041 1,518 1,337 1,489 1,366
Total Debt		 0.00 260 1,463 1,470 1,650 1,692 1,395
Total Long-Term Debt		 0.00 242 1,463 1,470 1,569 1,616 1,070
Net Debt		 0.00 159 -251 606 1,239 1,263 1,140
Capital Expenditures (CapEx)		 70 111 103 114 125 186 266
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -20 -1.57 -84 -20 -32 -122
Debt-free Net Working Capital (DFNWC)		 0.00 81 1,712 780 392 397 133
Net Working Capital (NWC)		 0.00 63 1,712 780 310 321 -192
Net Nonoperating Expense (NNE)		 19 33 12 9.82 -11 -5.79 -62
Net Nonoperating Obligations (NNO)		 0.00 157 -253 604 1,237 1,261 1,140
Total Depreciation and Amortization (D&A)		 63 76 88 96 120 133 137
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -6.18% -0.37% -14.53% -2.90% -4.09% -13.52%
Debt-free Net Working Capital to Revenue		 0.00% 25.33% 399.43% 135.42% 56.53% 50.80% 14.71%
Net Working Capital to Revenue		 0.00% 19.84% 399.43% 135.42% 44.79% 41.09% -21.35%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.21) $0.00 $0.22 $0.92 $2.83
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 93.22M 0.00 90.14M 91.63M 91.48M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.21) $0.00 $0.20 $0.89 $2.52
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 93.22M 0.00 96.42M 94.50M 105.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 215.23M 0.00 90.80M 92.07M 92.00M
Normalized Net Operating Profit after Tax (NOPAT)		 -21 -11 -7.83 -18 24 79 110
Normalized NOPAT Margin		 -8.21% -3.47% -1.83% -3.12% 3.43% 10.08% 12.19%
Pre Tax Income Margin		 -15.54% -13.40% -4.25% -4.14% 3.86% 12.52% 22.93%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 -3.23 -2.08 -1.54 -1.71 3.99 11.72 0.00
NOPAT to Interest Expense		 -2.24 -0.80 -1.09 -2.04 0.96 8.64 0.00
EBIT Less CapEx to Interest Expense		 -10.76 -10.04 -15.88 -14.70 -9.93 -8.74 0.00
NOPAT Less CapEx to Interest Expense		 -9.76 -8.77 -15.43 -15.03 -12.96 -11.83 0.00
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -1,794.60% -2,157.96% 2,516.64% 70.76% 31.68%

Quarterly Metrics And Ratios for DigitalOcean

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 91,996,094.00 104,364,181.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 91,996,094.00 104,364,181.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.17 0.34
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 10.97% 11.87% 13.35% 12.10% 13.30% 14.06% 13.62% 15.69% 18.28% 22.40% 28.57%
EBITDA Growth		 176.74% 27,675.68% 74.88% -3.86% 19.10% 42.70% 28.98% 21.16% 34.64% 14.32% 10.34%
EBIT Growth		 327.73% 164.53% 345.27% -19.12% 97.06% 163.23% 65.71% 47.27% 31.23% -13.40% -23.02%
NOPAT Growth		 262.63% 149.46% 6,969.53% 49.26% 58.41% 203.68% 80.39% 188.06% 49.35% -32.25% 23.42%
Net Income Growth		 253.55% 186.37% 2,777.89% 71.83% 14.60% 170.20% 93.47% 380.66% 40.48% -58.72% -4.29%
EPS Growth		 233.33% 188.24% 1,900.00% 65.00% 31.25% 160.00% 95.00% 357.58% 9.52% -61.54% -25.64%
Operating Cash Flow Growth		 28.14% 84.16% 11.19% 35.71% -11.40% -3.90% 29.59% 30.58% -19.71% -26.79% 18.95%
Free Cash Flow Firm Growth		 22.66% 17.70% 12.75% -420.31% 55.56% 34.53% 15.13% 119.56% -352.21% 55.97% -29.67%
Invested Capital Growth		 41.65% 44.86% 43.68% 32.89% 14.67% 23.15% 27.55% 3.82% 30.26% 8.98% 27.85%
Revenue Q/Q Growth		 2.15% 2.13% 4.19% 3.12% 3.25% 2.82% 3.80% 5.00% 5.55% 6.40% 9.03%
EBITDA Q/Q Growth		 -27.94% 0.52% 18.12% 12.37% -10.73% 20.43% 6.76% 5.56% -0.80% 2.26% 3.05%
EBIT Q/Q Growth		 -59.84% 4.52% 63.84% 17.59% -2.14% 39.62% 3.14% 4.51% -12.80% -7.86% -8.33%
NOPAT Q/Q Growth		 -29.39% -11.55% 50.51% 58.80% -25.06% 69.55% -10.60% 153.59% -61.15% -23.09% 62.87%
Net Income Q/Q Growth		 -16.88% -11.29% 35.36% 72.17% -44.56% 109.15% -3.08% 327.72% -83.80% -38.54% 124.70%
EPS Q/Q Growth		 -20.00% -6.25% 33.33% 65.00% -36.36% 85.71% 0.00% 287.18% -84.77% -34.78% 93.33%
Operating Cash Flow Q/Q Growth		 48.97% -17.17% 6.97% 2.82% -2.75% -10.16% 44.25% 3.61% -40.20% -18.08% 134.37%
Free Cash Flow Firm Q/Q Growth		 -530.90% -9.31% 4.96% 20.62% 46.11% -61.02% -23.20% 118.30% -645.84% 64.22% -262.81%
Invested Capital Q/Q Growth		 26.22% 2.83% -0.98% 3.39% 8.91% 10.44% 2.56% -15.85% 10.17% 14.61% 20.32%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 52.55% 60.68% 60.96% 60.18% 57.13% 61.43% 59.87% 59.63% 58.69% 56.11% 55.00%
EBITDA Margin		 28.06% 27.62% 31.31% 34.11% 29.50% 34.55% 35.54% 35.73% 33.58% 32.27% 30.50%
Operating Margin		 6.07% 6.25% 11.60% 12.40% 15.88% 17.87% 16.29% 19.57% 16.01% 14.18% 10.45%
EBIT Margin		 8.76% 8.96% 14.10% 16.07% 15.23% 20.69% 20.56% 20.46% 16.90% 14.64% 12.31%
Profit (Net Income) Margin		 8.81% 7.65% 9.94% 16.60% 8.91% 18.13% 16.93% 68.97% 10.59% 6.12% 12.60%
Tax Burden Percent		 117.79% 99.19% 77.14% 111.16% 63.00% 92.32% 87.23% 175.36% 78.91% 64.38% 130.56%
Interest Burden Percent		 85.41% 86.09% 91.44% 92.91% 92.87% 94.93% 94.42% 192.23% 79.37% 64.89% 78.43%
Effective Tax Rate		 -17.79% 0.81% 22.86% -11.16% 37.00% 7.68% 12.77% -75.36% 21.09% 35.62% -30.56%
Return on Invested Capital (ROIC)		 6.30% 5.50% 8.25% 12.24% 7.88% 12.56% 11.06% 29.93% 11.59% 7.09% 10.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.62% 5.76% 8.43% 12.74% 7.70% 12.83% 11.53% 36.97% 11.14% 6.21% 9.80%
Return on Net Nonoperating Assets (RNNOA)		 -45.80% -24.67% -34.22% -50.76% -37.24% -67.51% -69.00% -297.26% -105.60% 16.21% 25.64%
Return on Equity (ROE)		 -39.50% -19.17% -25.97% -38.51% -29.36% -54.94% -57.94% -267.32% -94.02% 23.30% 35.73%
Cash Return on Invested Capital (CROIC)		 -33.37% -31.54% -28.17% -20.09% -5.72% -11.13% -13.39% 15.13% -6.24% 7.33% -9.67%
Operating Return on Assets (OROA)		 3.70% 4.16% 6.83% 8.24% 7.67% 10.67% 10.51% 10.87% 8.77% 6.59% 5.14%
Return on Assets (ROA)		 3.73% 3.55% 4.82% 8.51% 4.49% 9.35% 8.66% 36.64% 5.49% 2.75% 5.26%
Return on Common Equity (ROCE)		 -39.50% -19.17% -25.97% -38.51% -29.36% -54.94% -57.94% -267.32% -94.02% 23.30% 35.73%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -17.45% -26.95% -38.81% 0.00% -51.51% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 13 11 17 27 20 35 31 79 31 24 38
NOPAT Margin		 7.15% 6.20% 8.95% 13.78% 10.00% 16.49% 14.21% 34.31% 12.63% 9.13% 13.64%
Net Nonoperating Expense Percent (NNEP)		 -0.33% -0.26% -0.18% -0.49% 0.18% -0.26% -0.46% -7.04% 0.45% 0.88% 0.29%
Return On Investment Capital (ROIC_SIMPLE)		 0.97% - - - 1.38% 2.27% 1.96% 6.33% 2.24% 1.17% 1.67%
Cost of Revenue to Revenue		 47.45% 39.32% 39.04% 39.82% 42.87% 38.57% 40.13% 40.37% 41.31% 43.89% 45.00%
SG&A Expenses to Revenue		 24.81% 24.78% 21.22% 20.37% 16.51% 15.57% 16.64% 14.22% 15.14% 14.59% 16.08%
R&D to Revenue		 15.18% 18.39% 17.69% 18.83% 18.11% 18.79% 18.13% 16.60% 18.26% 18.93% 20.45%
Operating Expenses to Revenue		 46.48% 54.43% 49.36% 47.78% 41.26% 43.57% 43.59% 40.06% 42.69% 41.93% 44.56%
Earnings before Interest and Taxes (EBIT)		 16 17 27 32 31 44 45 47 41 38 35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 51 51 60 68 60 73 78 82 81 83 86
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.89 17.61
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 17.97 33.67
Price to Revenue (P/Rev)		 4.55 4.61 4.31 4.91 4.03 3.81 3.12 3.60 4.88 8.32 16.21
Price to Earnings (P/E)		 162.59 65.78 46.28 45.26 37.21 28.32 20.56 12.35 16.98 33.32 69.67
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		 0.62% 1.52% 2.16% 2.21% 2.69% 3.53% 4.86% 8.10% 5.89% 3.00% 1.44%
Enterprise Value to Invested Capital (EV/IC)		 4.76 4.76 4.64 5.05 4.16 3.81 3.32 4.15 4.99 6.50 11.09
Enterprise Value to Revenue (EV/Rev)		 6.34 6.35 5.93 6.48 5.65 5.52 4.77 4.85 6.15 8.73 16.80
Enterprise Value to EBITDA (EV/EBITDA)		 28.27 21.88 18.76 21.34 18.41 17.06 14.27 14.29 17.66 25.52 51.11
Enterprise Value to EBIT (EV/EBIT)		 123.01 58.00 44.06 53.63 41.26 33.29 26.21 25.12 31.41 48.51 105.99
Enterprise Value to NOPAT (EV/NOPAT)		 509.59 110.43 71.22 70.66 56.00 43.75 34.35 22.41 28.14 42.54 84.19
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.70 17.03 16.00 16.80 15.59 15.91 13.20 12.94 17.90 28.31 54.82
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.96 0.00 92.40 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -5.26 -5.79 -6.46 -7.68 -8.33 -8.27 -10.07 -18.89 -48.62 1.27 1.47
Long-Term Debt to Equity		 -5.00 -5.51 -6.17 -7.35 -7.96 -7.82 -9.50 -18.75 -37.29 0.92 1.14
Financial Leverage		 -6.92 -4.28 -4.06 -3.99 -4.84 -5.26 -5.99 -8.04 -9.48 2.61 2.62
Leverage Ratio		 -12.31 -6.28 -5.82 -5.17 -6.00 -6.29 -7.59 -11.56 -15.01 6.23 6.41
Compound Leverage Factor		 -10.52 -5.41 -5.32 -4.81 -5.57 -5.98 -7.17 -22.22 -11.91 4.04 5.03
Debt to Total Capital		 123.47% 120.88% 118.33% 114.98% 113.63% 113.76% 111.03% 105.59% 102.10% 55.97% 59.53%
Short-Term Debt to Total Capital		 6.08% 5.93% 5.34% 4.82% 5.09% 6.07% 6.18% 0.76% 23.80% 15.44% 13.55%
Long-Term Debt to Total Capital		 117.39% 114.95% 112.98% 110.16% 108.54% 107.70% 104.85% 104.83% 78.30% 40.52% 45.98%
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		 -23.47% -20.88% -18.33% -14.98% -13.63% -13.76% -11.03% -5.59% -2.10% 44.03% 40.47%
Debt to EBITDA		 10.62 8.01 7.05 7.07 7.06 6.67 6.33 4.49 4.44 3.48 4.12
Net Debt to EBITDA		 7.97 5.99 5.14 5.16 5.28 5.29 4.94 3.68 3.63 1.19 1.81
Long-Term Debt to EBITDA		 10.09 7.62 6.73 6.78 6.75 6.31 5.98 4.46 3.41 2.52 3.18
Debt to NOPAT		 191.38 40.45 26.76 23.42 21.49 17.10 15.24 7.04 7.08 5.80 6.78
Net Debt to NOPAT		 143.63 30.22 19.52 17.08 16.05 13.56 11.89 5.77 5.79 1.99 2.98
Long-Term Debt to NOPAT		 181.95 38.47 25.55 22.44 20.53 16.19 14.39 6.99 5.43 4.20 5.24
Altman Z-Score		 1.50 1.58 1.57 1.89 1.58 1.59 1.44 1.60 1.82 3.35 4.94
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		 2.61 2.73 2.47 3.14 2.45 2.42 2.27 1.13 0.69 1.46 1.31
Quick Ratio		 2.46 2.56 2.32 2.89 2.27 2.20 2.09 0.99 0.56 1.31 1.14
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -258 -283 -269 -213 -115 -185 -228 42 -228 -81 -295
Operating Cash Flow to CapEx		 150.05% 147.46% 207.67% 122.75% 151.32% 100.15% 267.34% 248.66% 44.23% 104.89% 109.78%
Free Cash Flow to Firm to Interest Expense		 -111.84 -122.62 -115.69 -94.23 -51.60 -83.77 -90.86 0.00 -26.93 -6.15 -39.59
Operating Cash Flow to Interest Expense		 34.84 28.95 30.74 32.43 32.05 29.03 36.86 0.00 6.78 3.54 14.74
Operating Cash Flow Less CapEx to Interest Expense		 11.62 9.32 15.94 6.01 10.87 0.04 23.07 0.00 -8.55 0.17 1.31
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.42 0.46 0.48 0.51 0.50 0.52 0.51 0.53 0.52 0.45 0.42
Accounts Receivable Turnover		 11.94 11.99 11.81 11.71 11.59 11.48 11.20 11.27 11.03 10.42 10.30
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		 2.40 2.37 2.30 2.31 2.12 2.10 2.00 1.94 1.76 1.58 1.33
Accounts Payable Turnover		 23.54 36.64 30.69 22.11 10.75 45.90 16.16 8.46 7.75 19.06 20.73
Days Sales Outstanding (DSO)		 30.56 30.44 30.91 31.16 31.49 31.78 32.58 32.39 33.08 35.03 35.42
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)		 15.50 9.96 11.89 16.51 33.94 7.95 22.59 43.16 47.11 19.15 17.61
Cash Conversion Cycle (CCC)		 15.05 20.48 19.02 14.65 -2.46 23.83 10.00 -10.78 -14.03 15.88 17.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 923 949 940 972 1,058 1,169 1,199 1,009 1,112 1,274 1,533
Invested Capital Turnover		 0.88 0.89 0.92 0.89 0.79 0.76 0.78 0.87 0.92 0.78 0.74
Increase / (Decrease) in Invested Capital		 271 294 286 241 135 220 259 37 258 105 334
Enterprise Value (EV)		 4,394 4,521 4,361 4,904 4,407 4,456 3,976 4,188 5,543 8,278 16,990
Market Capitalization		 3,156 3,284 3,165 3,718 3,144 3,074 2,600 3,110 4,403 7,891 16,388
Book Value per Share		 ($3.65) ($3.15) ($2.79) ($2.30) ($2.20) ($2.29) ($1.92) ($0.76) ($0.31) $9.65 $8.92
Tangible Book Value per Share		 ($9.33) ($8.47) ($8.03) ($7.42) ($7.25) ($7.31) ($6.96) ($5.74) ($5.21) $4.77 $4.66
Total Capital		 1,337 1,370 1,385 1,413 1,489 1,531 1,588 1,245 1,366 2,015 2,300
Total Debt		 1,650 1,656 1,639 1,625 1,692 1,742 1,764 1,315 1,395 1,128 1,369
Total Long-Term Debt		 1,569 1,575 1,565 1,557 1,616 1,649 1,665 1,306 1,070 817 1,057
Net Debt		 1,239 1,237 1,195 1,185 1,263 1,381 1,376 1,079 1,140 387 602
Capital Expenditures (CapEx)		 54 45 34 60 47 64 35 39 130 45 100
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -20 -11 -46 4.24 -32 13 -4.28 -184 -122 -133 -214
Debt-free Net Working Capital (DFNWC)		 392 408 398 444 397 374 383 52 133 609 553
Net Working Capital (NWC)		 310 327 324 376 321 281 285 43 -192 297 241
Net Nonoperating Expense (NNE)		 -3.00 -2.69 -1.91 -5.60 2.23 -3.45 -5.96 -80 4.95 7.77 2.91
Net Nonoperating Obligations (NNO)		 1,237 1,235 1,194 1,184 1,261 1,380 1,374 1,079 1,140 387 602
Total Depreciation and Amortization (D&A)		 35 34 33 36 29 29 33 35 40 45 51
Debt-free, Cash-free Net Working Capital to Revenue		 -2.90% -1.54% -6.20% 0.56% -4.09% 1.66% -0.51% -21.35% -13.52% -14.00% -21.15%
Debt-free Net Working Capital to Revenue		 56.53% 57.28% 54.08% 58.70% 50.80% 46.35% 46.04% 6.03% 14.71% 64.15% 54.71%
Net Working Capital to Revenue		 44.79% 45.88% 44.01% 49.70% 41.09% 34.83% 34.25% 4.93% -21.35% 31.34% 23.88%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.16 $0.16 $0.21 $0.36 $0.19 $0.42 $0.41 $1.74 $0.26 $0.17 $0.34
Adjusted Weighted Average Basic Shares Outstanding		 90.14M 90.79M 91.32M 92.15M 91.63M 91.99M 91.10M 91.19M 91.48M 93.04M 104.61M
Adjusted Diluted Earnings per Share		 $0.16 $0.15 $0.20 $0.33 $0.21 $0.39 $0.39 $1.51 $0.23 $0.15 $0.29
Adjusted Weighted Average Diluted Shares Outstanding		 96.42M 93.79M 93.83M 102.59M 94.50M 102.32M 100.62M 105.52M 105.34M 111.92M 126.55M
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		 90.80M 91.09M 92.06M 92.28M 92.07M 91.03M 91.04M 91.49M 92.00M 104.36M 117.58M
Normalized Net Operating Profit after Tax (NOPAT)		 7.71 11 17 17 20 35 31 31 31 24 21
Normalized NOPAT Margin		 4.26% 6.20% 8.95% 8.68% 10.00% 16.49% 14.21% 13.70% 12.63% 9.13% 7.31%
Pre Tax Income Margin		 7.48% 7.72% 12.89% 14.93% 14.15% 19.64% 19.41% 39.33% 13.42% 9.50% 9.65%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.86 7.19 11.69 14.10 14.03 19.74 17.93 0.00 4.85 2.85 4.64
NOPAT to Interest Expense		 5.60 4.97 7.42 12.09 9.21 15.74 12.39 0.00 3.62 1.78 5.14
EBIT Less CapEx to Interest Expense		 -16.36 -12.44 -3.11 -12.31 -7.15 -9.24 4.14 0.00 -10.48 -0.53 -8.79
NOPAT Less CapEx to Interest Expense		 -17.62 -14.66 -7.38 -14.33 -11.97 -13.24 -1.40 0.00 -11.70 -1.60 -8.28
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		 2,516.64% 463.41% 201.37% 52.80% 70.76% 101.39% 95.54% 44.48% 31.68% 9.74% 1.24%

Financials Breakdown Chart

Key Financial Trends

DigitalOcean’s latest quarter shows a business that is still growing and generating positive operating cash flow, but it remains highly levered and its equity base is thin compared with total obligations.

For Q1 2026, revenue increased to $257.9 million from $242.4 million in Q4 2025 and $210.7 million in Q1 2025. Net income came in at $15.8 million, down from $25.7 million in the prior quarter, but still positive. Cash from operations was also solid at $46.9 million, although that was below the $57.3 million produced in Q4 2025.

Over a longer period, DigitalOcean has improved its revenue run rate meaningfully from the 2023 trough, when quarterly revenue was in the low-to-mid $150 million range. Profitability has also recovered from the periods of much weaker earnings seen in 2023, and operating cash flow has generally been positive. That said, the balance sheet still reflects a company carrying a large debt burden and limited book equity.

  • Revenue growth continues: Q1 2026 revenue rose year over year and sequentially, signaling ongoing demand expansion.
  • Operating cash flow remains positive: DOCN generated $46.9 million in operating cash flow in Q1 2026, supporting financial flexibility.
  • Gross profit remains healthy: Q1 2026 gross profit of $144.7 million suggests the core business still has strong economics.
  • Profitability is intact: The company posted $15.8 million in net income in Q1 2026 and has been profitable in recent quarters.
  • Cash balance is sizable: Cash and equivalents were $741.4 million at the end of Q1 2026, giving the company a meaningful liquidity cushion.
  • Revenue growth is not accelerating sharply: The latest quarter showed growth, but not a dramatic step-up from the prior quarter.
  • Capital spending remains material: DOCN spent $44.7 million on property and equipment in Q1 2026, which helps growth but also consumes cash.
  • Balance sheet equity remains modest: Common equity was only $887.4 million versus $1.68 billion in liabilities.
  • Debt load remains elevated: Q1 2026 short-term debt, long-term debt, and capital lease obligations were still substantial, keeping leverage high.
  • Equity is thin relative to liabilities: DOCN’s liabilities materially exceed its reported equity, which can increase financial risk.
  • Financing activity has been heavily shareholder- and debt-dependent at times: Earlier periods showed large swings from debt repayment and equity issuance, highlighting a less stable capital structure.

Bottom line: DigitalOcean looks like a company with improving fundamentals, decent cash generation, and continued top-line growth, but investors should not ignore the balance sheet. The main question is whether management can keep growing revenue and earnings fast enough to reduce leverage and strengthen the equity base over time.

08/17/26 07:27 AM ETAI Generated. May Contain Errors.

DigitalOcean Financials - Frequently Asked Questions

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

DigitalOcean's net income appears to be on an upward trend, with a most recent value of $259.26 million in 2025, falling from -$40.39 million in 2019. The previous period was $84.49 million in 2024. See DigitalOcean's forecast for analyst expectations on what's next for the company.

DigitalOcean's total operating income in 2025 was $156.99 million, based on the following breakdown:
  • Total Gross Profit: $539.59 million
  • Total Operating Expenses: $382.60 million

Over the last 6 years, DigitalOcean's total revenue changed from $254.82 million in 2019 to $901.43 million in 2025, a change of 253.7%.

DigitalOcean's total liabilities were at $1.87 billion at the end of 2025, a 1.3% increase from 2024, and a 466.8% increase since 2020.

In the past 5 years, DigitalOcean's cash and equivalents has ranged from $100.31 million in 2020 to $1.71 billion in 2021, and is currently $254.48 million as of their latest financial filing in 2025.

Over the last 6 years, DigitalOcean's book value per share changed from 0.00 in 2019 to -0.31 in 2025, a change of -31.4%.


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Financial statements for NYSE:DOCN last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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