DOCUNasdaqServices-Prepackaged SoftwareFiscal year ends January 31
DOCUSIGN, INC.
Financials through Q2 FY2027, quarter ended Jul 31, 2026Last filing: 10-Q on Sep 4, 2026
$76.66+2.01 (+2.69%)
Close on Oct 19, 2026
- Market cap
- $14.80B
- P/E (TTM)
- 46.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2026
Gross margin
79.4%+4.5 pts over 5 years
Operating margin
9.3%+21.2 pts over 5 years
Net margin
9.6%+26.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.2% | +8.6% | +17.2% | – | |
| Gross profit | +8.5% | +8.9% | +18.6% | – | |
| Operating income | +49.3% | – | – | – | |
| Net income | -71.1% | – | – | – | |
| EPS, diluted | -70.9% | – | – | – | |
| Free cash flow | +15.0% | +35.1% | +37.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 37.0% | -55.8% | 15.8% | |
| Return on assets | – | -11.5% | 7.5% | |
| Current ratio | – | 1.06 | 0.73 | |
| Interest coverage | -189.6× | -5.6× | 117.3× | |
| Capex to revenue | 11.4% | 5.7% | 3.3% | |
| Diluted shares | 28M | 186M | 209M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Docusign generated $4.18B from operations and spent $2.20B on capital expenditure, dividends and share buybacks. 20% of that went back into the business.
Generated
$4.18B
Used
$2.20B
Capital expenditure$434.87M20%Dividends$00%Share buybacks$1.76B80%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.6%
×Asset turnover0.78×
×Equity multiplier2.10×
=Return on equity, FY202615.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 9.6% | 0.78× | 2.10× | 15.8% |
| FY2025 | 35.9% | 0.85× | 2.23× | 68.2% |
| FY2024 | 2.7% | 0.92× | 3.43× | 8.5% |
| FY2023 | -3.9% | 0.91× | 6.22× | -21.8% |
| FY2022 | -3.3% | 0.86× | 8.11× | -23.3% |
| FY2021 | -16.7% | 0.69× | 4.85× | -55.8% |
| FY2020 | -21.4% | 0.56× | 3.02× | -35.9% |
| FY2019 | -60.8% | 0.63× | 8.11× | -309.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$309.09M
- Cash generatingOperating cash flow above zero$1.17B
- Return on assets improvedROA up on the prior year35.9% → 7.7%
- Earnings backed by cashOperating cash flow above net income$1.17B vs $309.09M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.81 → 0.73
- No dilutionShare count did not rise210M → 209M
- Gross margin improvedGross margin up on the prior year79.12% → 79.40%
- More efficientAsset turnover rose1.00 → 0.80