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DoubleVerify (DV) Financials

DoubleVerify logo
$10.15 -0.50 (-4.65%)
Closing price 03:58 PM Eastern
Extended Trading
$10.18 +0.02 (+0.20%)
As of 06:19 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for DoubleVerify

Annual Income Statements for DoubleVerify

This table shows DoubleVerify'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		 23 22 28 38 75 44 79
Consolidated Net Income / (Loss)		 23 20 29 43 71 56 51
Net Income / (Loss) Continuing Operations		 23 20 29 43 71 56 51
Total Pre-Tax Income 		35 17 26 59 96 89 83
Total Operating Income		 39 21 27 59 86 82 79
Total Gross Profit		 158 208 278 375 466 540 615
Total Revenue		 183 244 333 452 573 657 748
Operating Revenue		 183 244 333 452 573 657 748
Total Cost of Revenue		 25 36 54 78 107 117 133
Operating Cost of Revenue		 25 36 54 78 107 117 133
Total Operating Expenses		 119 187 252 316 380 458 536
Selling, General & Admin Expense		 27 53 81 79 88 92 110
Marketing Expense		 38 62 77 107 126 168 191
Research & Development Expense		 32 47 63 95 125 153 178
Depreciation Expense		 22 25 30 34 41 45 57
Total Other Income / (Expense), net		 -3.74 -4.05 -0.86 0.34 10 6.37 3.51
Interest Expense		 5.20 4.93 1.17 0.91 1.07 1.12 1.73
Other Income / (Expense), net		 1.46 0.89 0.31 1.25 11 7.49 5.24
Income Tax Expense		 12 -3.14 -3.49 16 24 33 32
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - -1.08 1.78 5.56 -3.52 12 -28
Basic Earnings per Share		 $0.17 $0.15 $0.20 $0.26 $0.43 $0.33 $0.31
Weighted Average Basic Shares Outstanding		 139.65M 138.07M 148.31M 163.88M 167.80M 170.52M 162.78M
Diluted Earnings per Share		 $0.16 $0.14 $0.18 $0.25 $0.41 $0.32 $0.30
Weighted Average Diluted Shares Outstanding		 143.05M 145.44M 160.26M 170.76M 173.44M 175.08M 166.68M
Weighted Average Basic & Diluted Shares Outstanding		 - - 162.65M 165.54M 171.25M 166.01M 161.99M

Quarterly Income Statements for DoubleVerify

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 6.93 42 2.53 5.66 27 8.87 9.85 28 11 30 1.48
Consolidated Net Income / (Loss)		 13 33 7.16 7.47 18 23 2.36 8.76 10 29 6.41
Net Income / (Loss) Continuing Operations		 13 33 7.16 7.47 18 23 2.36 8.76 10 29 6.41
Total Pre-Tax Income 		20 42 8.94 13 30 37 9.52 15 21 37 14
Total Operating Income		 18 38 6.90 11 26 39 6.76 14 21 38 16
Total Gross Profit		 118 142 114 130 140 156 134 156 155 170 148
Total Revenue		 144 172 141 156 170 191 165 189 189 206 181
Operating Revenue		 144 172 141 156 170 191 165 189 189 206 181
Total Cost of Revenue		 26 30 27 26 29 34 31 33 33 36 33
Operating Cost of Revenue		 26 30 27 26 29 34 31 33 33 36 33
Total Operating Expenses		 99 105 107 119 114 118 127 142 134 132 132
Selling, General & Admin Expense		 23 25 22 23 23 24 27 30 27 27 26
Marketing Expense		 33 36 38 45 41 44 44 51 47 49 46
Research & Development Expense		 32 33 36 40 39 38 45 47 45 42 45
Depreciation Expense		 11 12 11 11 11 12 12 15 15 14 15
Total Other Income / (Expense), net		 1.35 4.10 2.04 1.83 3.87 -1.37 2.76 1.66 -0.57 -0.34 -1.41
Interest Expense		 0.29 0.28 0.23 0.23 0.35 0.30 0.42 0.44 0.47 0.40 0.41
Other Income / (Expense), net		 1.63 4.37 2.27 2.06 4.23 -1.07 3.18 2.11 -0.10 0.06 -0.99
Income Tax Expense		 6.23 8.64 1.78 5.41 11 14 7.16 6.45 10 8.11 7.82
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 6.42 -9.12 4.63 1.81 -9.08 15 -7.49 -19 -0.84 -0.31 4.93
Basic Earnings per Share		 $0.08 $0.20 $0.04 $0.04 $0.11 $0.14 $0.01 $0.05 $0.06 $0.19 $0.04
Weighted Average Basic Shares Outstanding		 168.61M 167.80M 171.31M 171.63M 170.25M 170.52M 165.12M 162.74M 162.03M 162.78M 160.77M
Diluted Earnings per Share		 $0.08 $0.19 $0.04 $0.04 $0.10 $0.14 $0.01 $0.05 $0.06 $0.18 $0.04
Weighted Average Diluted Shares Outstanding		 173.98M 173.44M 176.12M 175.96M 173.91M 175.08M 168.94M 166.70M 166.50M 166.68M 164.11M
Weighted Average Basic & Diluted Shares Outstanding		 169.99M 171.25M 171.80M 170.04M 169.17M 166.01M 162.50M 163.63M 161.11M 161.99M 153.46M

Annual Cash Flow Statements for DoubleVerify

This table details how cash moves in and out of DoubleVerify'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		 -19 22 188 46 42 -17 -34
Net Cash From Operating Activities		 29 21 83 95 120 160 211
Net Cash From Continuing Operating Activities		 29 21 83 95 120 160 211
Net Income / (Loss) Continuing Operations		 23 20 29 43 71 56 51
Consolidated Net Income / (Loss)		 23 20 29 43 71 56 51
Depreciation Expense		 22 25 30 34 41 45 57
Amortization Expense		 0.30 0.29 0.29 0.29 0.29 0.44 0.43
Non-Cash Adjustments To Reconcile Net Income		 5.27 15 43 58 76 103 116
Changes in Operating Assets and Liabilities, net		 -21 -39 -20 -41 -69 -45 -12
Net Cash From Investing Activities		 -63 -9.75 -159 -40 -84 -45 -105
Net Cash From Continuing Investing Activities		 -63 -9.75 -159 -40 -84 -45 -105
Purchase of Property, Plant & Equipment		 -5.94 -9.75 -9.40 -40 -17 -27 -39
Acquisitions		 -57 0.00 -149 0.00 -67 0.00 -83
Purchase of Investments		 - - - 0.00 0.00 -100 0.00
Sale and/or Maturity of Investments		 - - - 0.00 0.00 82 18
Other Investing Activities, net		 - - - - 0.00 0.00 -2.03
Net Cash From Financing Activities		 15 10 264 -7.88 6.49 -129 -144
Net Cash From Continuing Financing Activities		 15 10 264 -7.88 6.49 -129 -144
Repayment of Debt		 -2.27 -143 -22 0.00 -50 0.00 0.00
Repurchase of Common Equity		 0.00 -3.61 -24 -0.01 0.00 -128 -132
Issuance of Debt		 20 90 0.00 0.00 50 0.00 0.00
Issuance of Common Equity		 0.00 0.42 300 1.73 2.72 3.53 2.45
Other Financing Activities, net		 -2.61 -1.26 11 -9.61 3.77 -4.98 -14
Effect of Exchange Rate Changes		 - 0.20 -0.20 -0.78 0.34 -1.89 4.44
Cash Interest Paid		 4.66 3.37 0.77 0.55 0.71 0.48 1.20

Quarterly Cash Flow Statements for DoubleVerify

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -36 51 -8.12 -45 56 -19 -136 56 -11 58 -85
Net Cash From Operating Activities		 36 52 32 36 55 37 38 50 51 73 4.17
Net Cash From Continuing Operating Activities		 36 52 32 36 55 37 38 50 51 73 4.17
Net Income / (Loss) Continuing Operations		 13 33 7.16 7.47 18 23 2.36 8.76 10 29 6.41
Consolidated Net Income / (Loss)		 13 33 7.16 7.47 18 23 2.36 8.76 10 29 6.41
Depreciation Expense		 11 12 11 11 11 12 12 15 15 14 15
Amortization Expense		 0.07 0.07 0.07 0.07 0.19 0.11 0.11 0.11 0.11 0.11 0.11
Non-Cash Adjustments To Reconcile Net Income		 21 21 23 26 27 27 28 30 30 29 28
Changes in Operating Assets and Liabilities, net		 -9.35 -14 -9.17 -8.71 -2.36 -25 -4.78 -3.46 -4.17 0.20 -46
Net Cash From Investing Activities		 -72 -4.70 -39 -57 26 25 -90 3.16 -7.07 -12 -11
Net Cash From Continuing Investing Activities		 -72 -4.70 -39 -57 26 25 -90 3.16 -7.07 -12 -11
Purchase of Property, Plant & Equipment		 -4.64 -4.70 -6.39 -7.17 -6.23 -7.36 -6.29 -9.53 -12 -11 -11
Acquisitions		 -67 - 0.00 - - - -83 - - - 0.00
Other Investing Activities, net		 - - 0.00 - - - -1.00 - - -1.03 0.00
Net Cash From Financing Activities		 0.53 2.84 -0.91 -24 -26 -79 -86 -0.29 -55 -3.14 -78
Net Cash From Continuing Financing Activities		 0.53 2.84 -0.91 -24 -26 -79 -86 -0.29 -55 -3.14 -78
Repurchase of Common Equity		 - - 0.00 -23 -25 -78 -82 - -50 - -75
Other Financing Activities, net		 0.53 1.26 -0.91 -2.33 -0.69 -2.84 -3.51 -1.87 -4.70 -4.02 -2.99
Effect of Exchange Rate Changes		 -0.40 0.73 -0.38 -0.47 1.00 -2.04 1.53 3.02 -0.44 0.33 -0.75
Cash Interest Paid		 0.04 0.29 0.07 0.28 0.08 0.05 0.04 0.46 0.38 0.32 0.30

Annual Balance Sheets for DoubleVerify

This table presents DoubleVerify'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		 511 892 1,037 1,243 1,276 1,354
Total Current Assets		 142 368 445 533 559 519
Cash & Equivalents		 33 222 268 310 293 259
Accounts Receivable		 95 123 167 207 226 221
Prepaid Expenses		 14 23 10 16 22 39
Plant, Property, & Equipment, net		 18 18 47 58 70 103
Total Noncurrent Assets		 351 507 545 652 647 731
Goodwill		 227 351 343 436 428 516
Intangible Assets		 122 153 135 141 110 102
Noncurrent Deferred & Refundable Income Taxes		 0.08 0.06 0.04 13 35 31
Other Noncurrent Operating Assets		 2.15 2.78 66 62 73 83
Total Liabilities & Shareholders' Equity		 511 892 1,037 1,243 1,276 1,354
Total Liabilities		 95 93 160 169 193 223
Total Current Liabilities		 34 57 69 84 103 122
Accounts Payable		 3.50 3.85 6.68 13 12 15
Accrued Expenses		 25 41 33 44 55 74
Current Deferred & Payable Income Tax Liabilities		 1.28 1.32 12 5.83 16 3.83
Other Current Liabilities		 1.12 8.69 17 21 22 30
Total Noncurrent Liabilities		 61 36 91 85 89 101
Capital Lease Obligations		 3.45 2.58 0.78 2.87 0.81 5.60
Noncurrent Deferred & Payable Income Tax Liabilities		 31 30 13 8.12 8.51 11
Other Noncurrent Operating Liabilities		 3.75 3.21 78 74 80 84
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 417 799 877 1,074 1,083 1,131
Total Preferred & Common Equity		 417 799 877 1,074 1,083 1,131
Total Common Equity		 416 799 877 1,074 1,083 1,131
Common Stock		 621 717 756 879 975 1,060
Retained Earnings		 55 84 128 199 255 306
Treasury Stock		 -261 -1.80 -0.80 -0.74 -132 -248
Accumulated Other Comprehensive Income / (Loss)		 1.01 -0.77 -6.33 -2.80 -15 13

Quarterly Balance Sheets for DoubleVerify

This table presents DoubleVerify'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 Q1 2026
Period end date 9/30/2022 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
Total Assets		 1,001 1,065 1,083 1,175 1,260 1,273 1,312 1,249 1,297 1,296 1,274
Total Current Assets		 405 477 492 469 550 560 580 422 462 477 451
Cash & Equivalents		 243 286 295 259 302 256 312 156 212 201 174
Accounts Receivable		 141 174 176 191 196 188 193 213 189 218 223
Prepaid Expenses		 21 17 21 19 20 33 24 34 57 59 55
Plant, Property, & Equipment, net		 43 49 55 56 61 65 67 86 92 98 106
Total Noncurrent Assets		 554 539 536 650 649 649 665 741 743 721 717
Goodwill		 337 344 344 431 433 431 438 505 517 517 513
Intangible Assets		 141 129 123 147 133 125 120 122 116 108 95
Noncurrent Deferred & Refundable Income Taxes		 0.06 0.04 4.90 7.98 17 24 32 35 31 14 29
Other Noncurrent Operating Assets		 76 66 64 63 67 68 76 79 79 81 81
Total Liabilities & Shareholders' Equity		 1,001 1,065 1,083 1,175 1,260 1,273 1,312 1,249 1,297 1,296 1,274
Total Liabilities		 161 162 148 164 163 167 182 217 207 220 193
Total Current Liabilities		 58 76 66 75 75 80 88 114 105 120 95
Short-Term Debt		 0.00 - - - 9.84 10 11 7.21 - - 6.56
Accounts Payable		 12 11 8.84 9.64 13 11 13 13 13 13 12
Accrued Expenses		 31 25 37 42 34 44 47 42 59 70 50
Current Deferred & Payable Income Tax Liabilities		 0.00 23 0.00 0.00 6.06 0.83 0.70 24 0.68 0.55 2.59
Other Current Liabilities		 15 17 20 23 12 14 17 28 32 36 23
Total Noncurrent Liabilities		 104 86 82 89 88 88 94 103 102 100 99
Noncurrent Deferred & Payable Income Tax Liabilities		 24 7.53 1.13 9.33 7.51 7.03 9.64 8.35 8.57 8.32 11
Other Noncurrent Operating Liabilities		 78 78 77 76 2.75 2.82 3.04 95 86 85 88
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		 840 903 934 1,011 1,097 1,105 1,131 1,032 1,090 1,076 1,081
Total Preferred & Common Equity		 840 903 934 1,011 1,097 1,105 1,131 1,032 1,090 1,076 1,081
Total Common Equity		 840 903 934 1,011 1,097 1,105 1,131 1,032 1,090 1,076 1,081
Common Stock		 744 769 788 858 900 926 950 999 1,029 1,047 1,066
Retained Earnings		 109 140 153 166 206 214 232 258 266 277 312
Treasury Stock		 -1.00 -0.67 -0.53 -0.40 -1.15 -25 -51 -217 -217 -260 -305
Accumulated Other Comprehensive Income / (Loss)		 -13 -5.13 -5.51 -12 -7.43 -9.24 -0.16 -7.20 12 13 8.40

Annual Metrics And Ratios for DoubleVerify

This table displays calculated financial ratios and metrics derived from DoubleVerify'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% 33.53% 36.42% 35.97% 26.55% 14.72% 13.92%
EBITDA Growth		 0.00% -24.82% 22.18% 64.83% 45.55% -1.85% 4.34%
EBIT Growth		 0.00% -45.17% 21.37% 123.29% 60.84% -7.26% -6.08%
NOPAT Growth		 0.00% -2.10% 20.03% 42.03% 48.55% -18.32% -7.08%
Net Income Growth		 0.00% -12.25% 43.29% 47.63% 65.17% -21.32% -9.93%
EPS Growth		 0.00% -12.50% 28.57% 38.89% 64.00% -21.95% -6.25%
Operating Cash Flow Growth		 0.00% -27.92% 290.03% 14.64% 26.23% 33.34% 32.27%
Free Cash Flow Firm Growth		 0.00% 0.00% 63.76% 110.69% -721.17% 148.66% -223.26%
Invested Capital Growth		 0.00% 0.00% 41.38% 4.82% 25.72% 0.91% 13.47%
Revenue Q/Q Growth		 0.00% 0.00% 8.79% 6.62% 7.23% 2.88% 2.04%
EBITDA Q/Q Growth		 0.00% 0.00% 30.87% 17.54% 11.62% -2.88% 1.92%
EBIT Q/Q Growth		 0.00% 0.00% 76.64% 29.07% 13.79% -4.60% 0.19%
NOPAT Q/Q Growth		 0.00% 0.00% 184.98% -20.76% 24.31% -9.31% 11.81%
Net Income Q/Q Growth		 0.00% 0.00% 221.01% -19.14% 26.65% -14.72% 13.26%
EPS Q/Q Growth		 0.00% 0.00% 200.00% -21.88% 28.13% -13.51% 15.38%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 33.87% 14.74% 14.93% -8.42% 20.10%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 112.04% 12.01% 197.02% -368.91%
Invested Capital Q/Q Growth		 0.00% 0.00% 38.55% 1.90% 1.48% -10.00% -0.50%
Profitability Metrics		 - - - - - - -
Gross Margin		 86.40% 85.34% 83.66% 82.79% 81.38% 82.26% 82.16%
EBITDA Margin		 34.31% 19.32% 17.30% 20.98% 24.12% 20.64% 18.90%
Operating Margin		 21.41% 8.76% 8.02% 13.05% 14.97% 12.55% 10.58%
EBIT Margin		 22.21% 9.12% 8.11% 13.32% 16.93% 13.69% 11.28%
Profit (Net Income) Margin		 12.76% 8.39% 8.81% 9.56% 12.48% 8.56% 6.77%
Tax Burden Percent		 65.91% 118.16% 113.50% 72.88% 74.54% 63.33% 61.24%
Interest Burden Percent		 87.18% 77.83% 95.66% 98.50% 98.90% 98.76% 97.95%
Effective Tax Rate		 34.09% -18.16% -13.50% 27.12% 25.46% 36.67% 38.76%
Return on Invested Capital (ROIC)		 0.00% 12.26% 6.10% 7.22% 9.28% 6.78% 5.87%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 196.36% 6.98% 7.12% 6.65% 5.47% 5.11%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -2.45% -1.28% -2.06% -1.96% -1.56% -1.30%
Return on Equity (ROE)		 0.00% 9.82% 4.82% 5.16% 7.33% 5.21% 4.57%
Cash Return on Invested Capital (CROIC)		 0.00% -187.74% -28.19% 2.51% -13.51% 5.87% -6.75%
Operating Return on Assets (OROA)		 0.00% 4.35% 3.85% 6.25% 8.50% 7.14% 6.42%
Return on Assets (ROA)		 0.00% 4.00% 4.18% 4.49% 6.27% 4.46% 3.85%
Return on Common Equity (ROCE)		 0.00% 9.80% 4.82% 5.16% 7.33% 5.21% 4.57%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.91% 3.67% 4.93% 6.65% 5.19% 0.00%
Net Operating Profit after Tax (NOPAT)		 26 25 30 43 64 52 48
NOPAT Margin		 14.11% 10.35% 9.10% 9.51% 11.16% 7.95% 6.48%
Net Nonoperating Expense Percent (NNEP)		 0.00% -184.09% -0.88% 0.10% 2.63% 1.31% 0.76%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 4.90% 5.93% 4.81% 4.27%
Cost of Revenue to Revenue		 13.60% 14.66% 16.34% 17.21% 18.62% 17.74% 17.84%
SG&A Expenses to Revenue		 14.73% 21.75% 24.46% 17.39% 15.37% 14.03% 14.67%
R&D to Revenue		 17.30% 19.27% 18.84% 21.02% 21.90% 23.30% 23.85%
Operating Expenses to Revenue		 64.99% 76.59% 75.64% 69.74% 66.40% 69.71% 71.58%
Earnings before Interest and Taxes (EBIT)		 41 22 27 60 97 90 84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 63 47 58 95 138 136 141
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.87 6.61 4.13 5.82 3.00 1.63
Price to Tangible Book Value (P/TBV)		 0.00 5.37 17.89 9.09 12.58 5.96 3.59
Price to Revenue (P/Rev)		 1.97 1.48 15.87 8.00 10.92 4.95 2.46
Price to Earnings (P/E)		 15.45 16.72 191.80 96.01 83.37 73.29 23.43
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 6.47% 5.98% 0.52% 1.04% 1.20% 1.36% 4.27%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.86 8.70 5.50 7.75 3.80 1.81
Enterprise Value to Revenue (EV/Rev)		 0.00 1.46 15.21 7.41 10.38 4.48 2.12
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 7.54 87.93 35.34 43.04 21.69 11.24
Enterprise Value to EBIT (EV/EBIT)		 0.00 15.98 187.54 55.64 61.32 32.70 18.83
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 14.08 167.14 77.96 93.03 56.32 32.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 16.75 61.18 35.35 49.65 18.41 7.53
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 224.12 0.00 65.01 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.07 0.01 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.06 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.01 -0.18 -0.29 -0.29 -0.29 -0.25
Leverage Ratio		 0.00 1.23 1.15 1.15 1.17 1.17 1.19
Compound Leverage Factor		 0.00 0.96 1.10 1.13 1.16 1.15 1.16
Debt to Total Capital		 0.00% 6.33% 0.53% 0.09% 0.27% 0.07% 0.49%
Short-Term Debt to Total Capital		 0.00% 0.61% 0.21% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 5.72% 0.32% 0.09% 0.27% 0.07% 0.49%
Preferred Equity to Total Capital		 0.00% 0.14% 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%
Common Equity to Total Capital		 0.00% 93.53% 99.47% 99.91% 99.73% 99.93% 99.51%
Debt to EBITDA		 0.00 0.60 0.07 0.01 0.02 0.01 0.04
Net Debt to EBITDA		 0.00 -0.11 -3.77 -2.81 -2.22 -2.29 -1.79
Long-Term Debt to EBITDA		 0.00 0.54 0.04 0.01 0.02 0.01 0.04
Debt to NOPAT		 0.00 1.12 0.14 0.02 0.04 0.02 0.12
Net Debt to NOPAT		 0.00 -0.21 -7.17 -6.21 -4.81 -5.94 -5.23
Long-Term Debt to NOPAT		 0.00 1.01 0.09 0.02 0.04 0.02 0.12
Altman Z-Score		 0.00 3.31 35.04 14.80 23.56 11.57 6.39
Noncontrolling Interest Sharing Ratio		 0.00% 0.15% 0.05% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 4.17 6.45 6.46 6.36 5.40 4.27
Quick Ratio		 0.00 3.76 6.04 6.31 6.17 5.19 3.95
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -386 -140 15 -93 45 -56
Operating Cash Flow to CapEx		 495.25% 217.58% 880.59% 237.27% 703.99% 588.10% 548.11%
Free Cash Flow to Firm to Interest Expense		 0.00 -78.33 -119.44 16.53 -87.19 40.45 -32.17
Operating Cash Flow to Interest Expense		 5.66 4.30 70.60 104.82 112.33 142.81 121.86
Operating Cash Flow Less CapEx to Interest Expense		 4.52 2.33 62.59 60.64 96.37 118.53 99.63
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.48 0.47 0.47 0.50 0.52 0.57
Accounts Receivable Turnover		 0.00 2.58 3.06 3.12 3.06 3.03 3.35
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 13.47 18.65 14.00 10.90 10.25 8.63
Accounts Payable Turnover		 0.00 10.23 14.80 14.79 10.88 9.50 10.17
Days Sales Outstanding (DSO)		 0.00 141.68 119.36 117.01 119.23 120.35 109.11
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 35.68 24.66 24.68 33.56 38.42 35.90
Cash Conversion Cycle (CCC)		 0.00 105.99 94.70 92.33 85.68 81.93 73.21
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 412 582 610 767 774 878
Invested Capital Turnover		 0.00 1.19 0.67 0.76 0.83 0.85 0.91
Increase / (Decrease) in Invested Capital		 0.00 412 170 28 157 6.97 104
Enterprise Value (EV)		 0.00 355 5,062 3,354 5,945 2,940 1,590
Market Capitalization		 360 360 5,279 3,621 6,252 3,250 1,843
Book Value per Share		 $0.00 $3.01 $5.04 $5.32 $6.32 $6.40 $7.02
Tangible Book Value per Share		 $0.00 $0.49 $1.86 $2.42 $2.92 $3.22 $3.19
Total Capital		 0.00 445 803 878 1,077 1,084 1,137
Total Debt		 0.00 28 4.30 0.78 2.87 0.81 5.60
Total Long-Term Debt		 0.00 25 2.58 0.78 2.87 0.81 5.60
Net Debt		 0.00 -5.19 -217 -267 -307 -310 -253
Capital Expenditures (CapEx)		 5.94 9.75 9.40 40 17 27 39
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 77 91 108 139 145 139
Debt-free Net Working Capital (DFNWC)		 0.00 111 313 376 449 456 398
Net Working Capital (NWC)		 0.00 108 311 376 449 456 398
Net Nonoperating Expense (NNE)		 2.47 4.78 0.98 -0.25 -7.57 -4.03 -2.15
Net Nonoperating Obligations (NNO)		 0.00 -5.19 -217 -267 -307 -310 -253
Total Depreciation and Amortization (D&A)		 22 25 31 35 41 46 57
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 31.68% 27.32% 23.95% 24.28% 22.07% 18.54%
Debt-free Net Working Capital to Revenue		 0.00% 45.35% 93.92% 83.15% 78.45% 69.36% 53.16%
Net Working Capital to Revenue		 0.00% 44.24% 93.40% 83.15% 78.45% 69.36% 53.16%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.20 $0.26 $0.43 $0.33 $0.31
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 148.31M 163.88M 167.80M 170.52M 162.78M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.18 $0.25 $0.41 $0.32 $0.30
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 160.26M 170.76M 173.44M 175.08M 166.68M
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 0.00 162.65M 165.54M 171.25M 166.01M 161.99M
Normalized Net Operating Profit after Tax (NOPAT)		 26 15 19 43 64 52 48
Normalized NOPAT Margin		 14.11% 6.13% 5.61% 9.51% 11.16% 7.95% 6.48%
Pre Tax Income Margin		 19.36% 7.10% 7.76% 13.12% 16.75% 13.52% 11.05%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 7.80 4.51 23.03 66.60 90.94 80.42 48.73
NOPAT to Interest Expense		 4.95 5.12 25.84 47.53 59.94 46.69 27.99
EBIT Less CapEx to Interest Expense		 6.65 2.53 15.01 22.42 74.99 56.14 26.49
NOPAT Less CapEx to Interest Expense		 3.81 3.14 17.82 3.36 43.99 22.40 5.75
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.30% 10.18% 0.17% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.30% 27.83% 81.62% 0.01% 0.00% 227.63% 261.21%

Quarterly Metrics And Ratios for DoubleVerify

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - - 161,987,971.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 161,987,971.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 28.26% 28.88% 14.84% 16.56% 17.77% 10.68% 17.25% 21.25% 11.24% 7.85% 9.55%
EBITDA Growth		 37.26% 36.67% -25.29% -9.97% 35.79% -7.50% 11.25% 25.91% -12.77% 5.38% 34.11%
EBIT Growth		 40.26% 38.80% -48.90% -23.41% 50.73% -10.32% 8.45% 19.37% -29.86% 0.43% 47.28%
NOPAT Growth		 16.50% 73.60% -47.25% -42.46% 27.27% -18.74% -69.63% 21.67% -33.73% 22.01% 320.02%
Net Income Growth		 29.19% 83.22% -41.22% -41.79% 36.37% -29.32% -67.01% 17.18% -43.95% 25.34% 171.50%
EPS Growth		 33.33% 90.00% -42.86% -42.86% 25.00% -26.32% -75.00% 25.00% -40.00% 28.57% 300.00%
Operating Cash Flow Growth		 11.66% 42.61% 48.30% 234.15% 53.78% -28.18% 18.53% 38.27% -6.30% 94.54% -88.93%
Free Cash Flow Firm Growth		 13.87% -1,069.78% -7,798.20% -534.34% 38.90% 113.61% 94.01% 90.85% 86.23% -531.81% -206.25%
Invested Capital Growth		 26.24% 25.72% 37.67% 32.96% 13.79% 0.91% 1.80% 3.11% 2.63% 13.47% 5.62%
Revenue Q/Q Growth		 7.65% 19.63% -18.26% 10.73% 8.77% 12.42% -13.41% 14.52% -0.21% 9.00% -12.05%
EBITDA Q/Q Growth		 14.07% 74.91% -62.38% 19.94% 72.05% 19.15% -54.75% 35.74% 19.20% 43.93% -42.41%
EBIT Q/Q Growth		 16.06% 111.47% -78.18% 43.05% 128.39% 25.81% -73.61% 57.44% 34.19% 80.16% -61.30%
NOPAT Q/Q Growth		 11.55% 140.18% -81.50% 16.10% 146.74% 53.35% -93.09% 365.20% 34.38% 182.34% -76.20%
Net Income Q/Q Growth		 3.96% 148.03% -78.38% 4.44% 143.52% 28.56% -89.91% 270.94% 16.49% 187.48% -78.14%
EPS Q/Q Growth		 14.29% 137.50% -78.95% 0.00% 150.00% 40.00% -92.86% 400.00% 20.00% 200.00% -77.78%
Operating Cash Flow Q/Q Growth		 230.81% 46.54% -38.96% 12.93% 52.24% -31.56% 0.75% 31.73% 3.16% 42.10% -94.26%
Free Cash Flow Firm Q/Q Growth		 -346.50% 12.18% -9.40% 9.54% 56.99% 119.57% -178.64% -38.30% 35.29% -513.56% 44.23%
Invested Capital Q/Q Growth		 17.54% 1.48% 0.33% 0.53% 0.59% -10.00% 11.85% 1.83% 0.13% -0.50% 4.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 81.62% 82.57% 81.09% 83.26% 82.61% 82.00% 81.24% 82.48% 82.26% 82.52% 81.66%
EBITDA Margin		 21.29% 31.13% 14.33% 15.52% 24.55% 26.01% 13.59% 16.11% 19.25% 25.42% 16.64%
Operating Margin		 12.67% 21.86% 4.90% 7.09% 15.17% 20.33% 4.10% 7.17% 11.19% 18.38% 8.65%
EBIT Margin		 13.80% 24.40% 6.51% 8.41% 17.66% 19.77% 6.02% 8.28% 11.14% 18.41% 8.10%
Profit (Net Income) Margin		 9.27% 19.22% 5.08% 4.79% 10.73% 12.28% 1.43% 4.63% 5.41% 14.27% 3.54%
Tax Burden Percent		 68.16% 79.31% 80.09% 58.03% 61.50% 62.60% 24.80% 57.58% 49.67% 78.34% 45.05%
Interest Burden Percent		 98.55% 99.35% 97.47% 98.22% 98.82% 99.20% 95.78% 97.17% 97.78% 98.94% 97.18%
Effective Tax Rate		 31.84% 20.69% 19.91% 41.97% 38.50% 37.40% 75.20% 42.42% 50.33% 21.66% 54.95%
Return on Invested Capital (ROIC)		 6.81% 14.42% 3.16% 3.37% 7.38% 10.85% 0.81% 3.40% 4.68% 13.05% 3.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.44% 13.29% 2.54% 2.98% 6.47% 11.13% 0.48% 2.98% 4.80% 13.14% 3.72%
Return on Net Nonoperating Assets (RNNOA)		 -1.73% -3.91% -0.68% -0.79% -1.59% -3.18% -0.09% -0.62% -1.01% -3.34% -0.59%
Return on Equity (ROE)		 5.08% 10.51% 2.48% 2.58% 5.78% 7.67% 0.71% 2.77% 3.67% 9.70% 2.76%
Cash Return on Invested Capital (CROIC)		 -15.60% -13.51% -23.66% -21.05% -5.77% 5.87% 3.74% 2.55% 2.38% -6.75% 0.72%
Operating Return on Assets (OROA)		 6.77% 12.25% 3.31% 4.38% 9.07% 10.31% 3.27% 4.60% 6.26% 10.47% 4.90%
Return on Assets (ROA)		 4.55% 9.65% 2.58% 2.50% 5.51% 6.40% 0.78% 2.58% 3.04% 8.12% 2.15%
Return on Common Equity (ROCE)		 5.08% 10.51% 2.48% 2.58% 5.78% 7.67% 0.71% 2.77% 3.67% 9.70% 2.76%
Return on Equity Simple (ROE_SIMPLE)		 5.58% 0.00% 6.06% 5.53% 5.83% 0.00% 4.98% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 12 30 5.52 6.41 16 24 1.68 7.80 10 30 7.04
NOPAT Margin		 8.63% 17.33% 3.92% 4.11% 9.33% 12.73% 1.02% 4.13% 5.56% 14.40% 3.90%
Net Nonoperating Expense Percent (NNEP)		 0.37% 1.13% 0.61% 0.39% 0.90% -0.28% 0.33% 0.42% -0.12% -0.10% -0.38%
Return On Investment Capital (ROIC_SIMPLE)		 - 2.77% - - - 2.24% 0.16% 0.71% 0.97% 2.60% 0.65%
Cost of Revenue to Revenue		 18.38% 17.43% 18.91% 16.74% 17.39% 18.00% 18.76% 17.53% 17.74% 17.48% 18.34%
SG&A Expenses to Revenue		 16.17% 14.37% 15.68% 14.80% 13.59% 12.57% 16.07% 15.65% 14.31% 12.96% 14.22%
R&D to Revenue		 22.45% 18.91% 25.85% 25.53% 23.18% 19.69% 27.09% 24.97% 23.77% 20.28% 25.10%
Operating Expenses to Revenue		 68.95% 60.71% 76.20% 76.17% 67.44% 61.67% 77.14% 75.31% 71.07% 64.14% 73.02%
Earnings before Interest and Taxes (EBIT)		 20 42 9.17 13 30 38 9.94 16 21 38 15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 31 54 20 24 42 50 22 30 36 52 30
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.63 5.82 5.49 3.03 2.53 3.00 2.15 2.23 1.82 1.63 1.42
Price to Tangible Book Value (P/TBV)		 10.81 12.58 11.33 6.10 5.00 5.96 5.47 5.32 4.35 3.59 3.24
Price to Revenue (P/Rev)		 8.76 10.92 10.19 5.46 4.49 4.95 3.26 3.41 2.67 2.46 2.01
Price to Earnings (P/E)		 81.93 83.37 93.86 58.32 36.85 73.29 42.96 32.81 33.85 23.43 21.89
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		 1.22% 1.20% 1.07% 1.71% 2.71% 1.36% 2.33% 3.05% 2.95% 4.27% 4.57%
Enterprise Value to Invested Capital (EV/IC)		 5.85 7.75 6.79 3.62 3.02 3.80 2.37 2.52 2.00 1.81 1.50
Enterprise Value to Revenue (EV/Rev)		 8.28 10.38 9.77 5.05 4.06 4.48 3.01 3.11 2.41 2.12 1.80
Enterprise Value to EBITDA (EV/EBITDA)		 35.75 43.04 43.98 24.06 18.57 21.69 14.89 15.43 12.73 11.24 9.20
Enterprise Value to EBIT (EV/EBIT)		 51.92 61.32 65.49 36.76 27.51 32.70 22.63 23.85 20.96 18.83 15.39
Enterprise Value to NOPAT (EV/NOPAT)		 86.05 93.03 97.80 57.05 45.05 56.32 43.34 45.62 40.72 32.78 24.89
Enterprise Value to Operating Cash Flow (EV/OCF)		 42.45 49.65 44.39 19.93 14.87 18.41 12.40 12.40 10.04 7.53 7.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 65.01 63.97 100.44 85.21 0.00 213.21
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.08 0.08 0.08 0.00 0.01 0.01 0.01 0.00 0.01
Long-Term Debt to Equity		 0.00 0.00 0.07 0.07 0.07 0.00 0.00 0.01 0.01 0.00 0.00
Financial Leverage		 -0.27 -0.29 -0.27 -0.27 -0.25 -0.29 -0.19 -0.21 -0.21 -0.25 -0.16
Leverage Ratio		 1.18 1.17 1.16 1.15 1.16 1.17 1.18 1.17 1.18 1.19 1.19
Compound Leverage Factor		 1.16 1.16 1.13 1.13 1.15 1.16 1.13 1.14 1.16 1.18 1.16
Debt to Total Capital		 0.34% 0.27% 7.37% 7.39% 7.50% 0.07% 0.69% 0.72% 0.63% 0.49% 0.60%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.83% 0.85% 0.88% 0.00% 0.69% 0.00% 0.00% 0.00% 0.60%
Long-Term Debt to Total Capital		 0.34% 0.27% 6.54% 6.55% 6.62% 0.07% 0.00% 0.72% 0.63% 0.49% 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		 99.66% 99.73% 92.63% 92.61% 92.50% 99.93% 99.31% 99.28% 99.37% 99.51% 99.40%
Debt to EBITDA		 0.03 0.02 0.67 0.69 0.66 0.01 0.05 0.06 0.05 0.04 0.04
Net Debt to EBITDA		 -2.07 -2.22 -1.88 -1.95 -1.94 -2.29 -1.21 -1.45 -1.40 -1.79 -1.12
Long-Term Debt to EBITDA		 0.03 0.02 0.59 0.61 0.58 0.01 0.00 0.06 0.05 0.04 0.00
Debt to NOPAT		 0.07 0.04 1.48 1.63 1.59 0.02 0.15 0.16 0.16 0.12 0.12
Net Debt to NOPAT		 -4.98 -4.81 -4.18 -4.62 -4.71 -5.94 -3.53 -4.28 -4.47 -5.23 -3.03
Long-Term Debt to NOPAT		 0.07 0.04 1.31 1.44 1.41 0.02 0.00 0.16 0.16 0.12 0.00
Altman Z-Score		 18.24 23.41 23.32 13.19 10.71 11.44 7.31 8.26 6.60 6.28 6.10
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		 6.28 6.36 7.30 7.04 6.57 5.40 3.72 4.41 3.98 4.27 4.77
Quick Ratio		 6.02 6.17 7.03 6.62 6.30 5.19 3.42 3.87 3.49 3.95 4.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -145 -127 -227 -205 -88 17 -14 -19 -12 -75 -42
Operating Cash Flow to CapEx		 765.89% 1,107.55% 497.01% 500.78% 876.24% 508.14% 599.16% 520.76% 421.62% 687.59% 39.56%
Free Cash Flow to Firm to Interest Expense		 -502.09 -461.79 -978.84 -881.68 -250.28 57.62 -32.37 -42.44 -26.05 -185.22 -100.80
Operating Cash Flow to Interest Expense		 123.34 189.29 136.96 154.00 154.75 124.61 89.67 111.99 109.60 180.46 10.10
Operating Cash Flow Less CapEx to Interest Expense		 107.24 172.20 109.40 123.24 137.09 100.09 74.71 90.49 83.60 154.22 -15.43
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.49 0.50 0.51 0.52 0.51 0.52 0.54 0.56 0.56 0.57 0.61
Accounts Receivable Turnover		 3.22 3.06 3.19 3.37 3.33 3.03 3.33 3.79 3.57 3.35 3.51
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		 10.87 10.90 10.77 10.27 10.37 10.25 9.28 9.13 8.85 8.63 7.95
Accounts Payable Turnover		 8.99 10.88 9.33 11.23 9.75 9.50 9.52 10.78 9.87 10.17 10.82
Days Sales Outstanding (DSO)		 113.52 119.23 114.28 108.32 109.76 120.35 109.59 96.23 102.26 109.11 104.12
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)		 40.61 33.56 39.13 32.49 37.43 38.42 38.32 33.86 36.98 35.90 33.73
Cash Conversion Cycle (CCC)		 72.91 85.68 75.15 75.83 72.33 81.93 71.26 62.37 65.28 73.21 70.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 755 767 850 855 860 774 865 881 882 878 914
Invested Capital Turnover		 0.79 0.83 0.81 0.82 0.79 0.85 0.79 0.82 0.84 0.91 0.86
Increase / (Decrease) in Invested Capital		 157 157 233 212 104 6.97 15 27 23 104 49
Enterprise Value (EV)		 4,423 5,945 5,774 3,094 2,593 2,940 2,052 2,224 1,766 1,590 1,372
Market Capitalization		 4,679 6,252 6,021 3,345 2,864 3,250 2,220 2,433 1,960 1,843 1,539
Book Value per Share		 $6.04 $6.32 $6.41 $6.43 $6.65 $6.40 $6.22 $6.71 $6.58 $7.02 $6.68
Tangible Book Value per Share		 $2.58 $2.92 $3.10 $3.19 $3.37 $3.22 $2.44 $2.81 $2.76 $3.19 $2.93
Total Capital		 1,015 1,077 1,184 1,193 1,222 1,084 1,040 1,098 1,083 1,137 1,088
Total Debt		 3.41 2.87 87 88 92 0.81 7.21 7.94 6.78 5.60 6.56
Total Long-Term Debt		 3.41 2.87 77 78 81 0.81 0.00 7.94 6.78 5.60 0.00
Net Debt		 -256 -307 -247 -251 -271 -310 -167 -209 -194 -253 -167
Capital Expenditures (CapEx)		 4.64 4.70 6.39 7.17 6.23 7.36 6.29 9.53 12 11 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 135 139 150 151 139 145 141 141 156 139 190
Debt-free Net Working Capital (DFNWC)		 395 449 485 490 502 456 315 357 357 398 363
Net Working Capital (NWC)		 395 449 475 480 491 456 308 357 357 398 357
Net Nonoperating Expense (NNE)		 -0.92 -3.25 -1.63 -1.06 -2.38 0.86 -0.68 -0.96 0.28 0.27 0.63
Net Nonoperating Obligations (NNO)		 -256 -307 -247 -251 -271 -310 -167 -209 -194 -253 -167
Total Depreciation and Amortization (D&A)		 11 12 11 11 12 12 12 15 15 14 15
Debt-free, Cash-free Net Working Capital to Revenue		 25.36% 24.28% 25.47% 24.69% 21.85% 22.07% 20.73% 19.70% 21.31% 18.54% 24.81%
Debt-free Net Working Capital to Revenue		 73.90% 78.45% 82.07% 79.97% 78.64% 69.36% 46.32% 50.05% 48.68% 53.16% 47.55%
Net Working Capital to Revenue		 73.90% 78.45% 80.40% 78.32% 76.95% 69.36% 45.26% 50.05% 48.68% 53.16% 46.70%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.08 $0.20 $0.04 $0.04 $0.11 $0.14 $0.01 $0.05 $0.06 $0.19 $0.04
Adjusted Weighted Average Basic Shares Outstanding		 168.61M 167.80M 171.31M 171.63M 170.25M 170.52M 165.12M 162.74M 162.03M 162.78M 160.77M
Adjusted Diluted Earnings per Share		 $0.08 $0.19 $0.04 $0.04 $0.10 $0.14 $0.01 $0.05 $0.06 $0.18 $0.04
Adjusted Weighted Average Diluted Shares Outstanding		 173.98M 173.44M 176.12M 175.96M 173.91M 175.08M 168.94M 166.70M 166.50M 166.68M 164.11M
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		 169.99M 171.25M 171.80M 170.04M 169.17M 166.01M 162.50M 163.63M 161.11M 161.99M 153.46M
Normalized Net Operating Profit after Tax (NOPAT)		 12 30 5.52 6.41 16 24 4.73 7.80 15 30 11
Normalized NOPAT Margin		 8.63% 17.33% 3.92% 4.11% 9.33% 12.73% 2.87% 4.13% 7.83% 14.40% 6.05%
Pre Tax Income Margin		 13.60% 24.24% 6.35% 8.26% 17.46% 19.61% 5.77% 8.05% 10.89% 18.21% 7.87%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 68.99 152.79 39.51 56.28 84.84 125.60 23.67 35.33 44.98 93.90 35.46
NOPAT to Interest Expense		 43.16 108.56 23.80 27.52 44.82 80.87 3.99 17.61 22.45 73.45 17.05
EBIT Less CapEx to Interest Expense		 52.89 135.69 11.96 25.53 67.18 101.07 8.70 13.83 18.99 67.66 9.93
NOPAT Less CapEx to Interest Expense		 27.06 91.47 -3.75 -3.23 27.16 56.34 -10.97 -3.90 -3.55 47.20 -8.47
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		 0.99% 0.00% 8.41% 48.48% 82.87% 227.63% 408.74% 351.31% 470.14% 261.21% 228.91%

Financials Breakdown Chart

Key Financial Trends

DoubleVerify’s latest quarter shows a clear rebound in profitability, but cash flow remains pressured by heavy buybacks and ongoing business investment. In Q1 2026, revenue grew modestly year over year, margins improved from the prior quarter, and the company remained solidly profitable on an operating basis. However, cash declined sharply in the quarter because operating cash flow was weak and share repurchases were substantial.

  • Revenue continued to grow year over year. Q1 2026 revenue was $180.8 million, up from $165.1 million in Q1 2025, showing DoubleVerify is still expanding its top line.
  • Gross profit remained strong. Q1 2026 gross profit was $147.7 million, implying a gross margin of about 81.7%, which is still very healthy for a software/data-driven business.
  • Operating income improved sequentially from Q1 2025. Q1 2026 operating income was $15.6 million, versus $6.8 million in Q1 2025, suggesting the business is regaining leverage after a soft start to 2025.
  • The company stayed profitable. Q1 2026 net income attributable to common shareholders was $1.5 million, keeping DoubleVerify in the black despite a difficult comparison base and elevated expenses.
  • The balance sheet remains strong overall. DV ended Q1 2026 with $173.8 million of cash and equivalents and only $6.6 million of short-term debt, which points to limited near-term liquidity risk.
  • Total equity remains well above liabilities. Equity of $1.08 billion versus liabilities of $193.1 million gives the company a conservative capital structure.
  • Operating cash flow was positive, but barely. Q1 2026 operating cash flow was only $4.2 million, down from $72.7 million in Q4 2025, showing that earnings are not yet converting into strong cash generation this quarter.
  • Accounts receivable remains sizable. Receivables were $222.6 million at quarter-end, which is a large working-capital item investors should watch for collection trends.
  • Goodwill and intangibles are a meaningful part of assets. Combined goodwill and intangible assets totaled about $607.0 million, so a large share of the asset base is acquisition-related and subject to impairment risk if growth slows.
  • Cash balance fell sharply in the quarter. Cash and equivalents dropped from $200.7 million in Q3 2025 to $173.8 million in Q1 2026, reflecting cash outflows from operations, investing, and financing.
  • Share repurchases were large. DV spent $75.1 million repurchasing common equity in Q1 2026, which helped reduce cash but may limit flexibility if operating performance softens.
  • Operating expenses remain elevated. In Q1 2026, operating expenses of $132.0 million consumed most of gross profit, leaving only a slim operating margin of about 8.6%.
  • Net cash decreased materially. Net change in cash and equivalents was down $85.3 million in Q1 2026, a reminder that profitability and cash flow are still somewhat inconsistent.

Three-year trend: DoubleVerify has generally grown revenue from 2023 into 2025 and maintained profitability, but the growth rate has become less consistent. The company’s biggest strength is still its high gross margin and debt-light balance sheet. The main watch items are whether operating leverage can improve more consistently and whether cash flow can keep pace with buybacks and investment needs.

Bottom line: DV still looks financially healthy, but investors should view the latest quarter as a mixed report: improving earnings and a strong balance sheet on one side, with weak cash generation and aggressive capital returns on the other.

06/03/26 07:39 PM ETAI Generated. May Contain Errors.

DoubleVerify Financials - Frequently Asked Questions

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

DoubleVerify's net income appears to be on an upward trend, with a most recent value of $50.65 million in 2025, rising from $23.31 million in 2019. The previous period was $56.23 million in 2024. Find out what analysts predict for DoubleVerify in the coming months.

DoubleVerify's total operating income in 2025 was $79.20 million, based on the following breakdown:
  • Total Gross Profit: $614.79 million
  • Total Operating Expenses: $535.59 million

Over the last 6 years, DoubleVerify's total revenue changed from $182.66 million in 2019 to $748.29 million in 2025, a change of 309.7%.

DoubleVerify's total liabilities were at $222.75 million at the end of 2025, a 15.6% increase from 2024, and a 135.4% increase since 2020.

In the past 5 years, DoubleVerify's cash and equivalents has ranged from $33.35 million in 2020 to $310.13 million in 2023, and is currently $259.04 million as of their latest financial filing in 2025.

Over the last 6 years, DoubleVerify's book value per share changed from 0.00 in 2019 to 7.02 in 2025, a change of 702.2%.


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Financial statements for NYSE:DV last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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