Company Valuation: DocuSign, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 24,887 12,193 12,423 19,542 10,522 12,519 - -
Change - -51.01% 1.88% 57.31% -46.15% 18.97% - -
Enterprise Value (EV) 1 24,803 11,698 11,255 18,444 9,656 11,399 10,210 8,824
Change - -52.83% -3.79% 63.87% -47.65% 18.05% -10.43% -13.57%
P/E -349x -124x 169x 19x 35.5x 36.9x 27.1x 23x
PBR 90.8x 19.7x 11.3x 10.2x 5.73x 6.11x 4.13x 3.08x
PEG - -3.4x -1x 0x -0.5x 1.6x 0.7x 1.3x
Capitalization / Revenue 11.8x 4.85x 4.5x 6.56x 3.27x 3.57x 3.31x 3.08x
EV / Revenue 11.8x 4.65x 4.08x 6.2x 3x 3.25x 2.7x 2.17x
EV / EBITDA 52.1x 20.1x 14.3x 19x 9.04x 9.17x 7.66x 6.13x
EV / EBIT 59.2x 22.6x 15.8x 20.8x 9.98x 10.4x 8.42x 6.56x
EV / FCF 55.7x 27.3x 12.7x 20x 9.12x 9.57x 7.83x 6.04x
FCF Yield 1.79% 3.67% 7.88% 4.99% 11% 10.5% 12.8% 16.6%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.36 -0.49 0.36 5.08 1.48 1.818 2.48 2.913
Distribution rate - - - - - - - -
Net sales 1 2,107 2,516 2,762 2,977 3,220 3,505 3,784 4,064
EBITDA 1 476.2 582.4 787.1 969.1 1,068 1,243 1,332 1,440
EBIT 1 419.1 516.8 711.4 886 967.9 1,099 1,213 1,345
Net income 1 -69.98 -97.45 73.98 1,068 309.1 346.2 469.8 552
Net Debt 1 -84.34 -494.8 -1,167 -1,098 -866.5 -1,120 -2,308 -3,694
Reference price 2 125.77 60.64 60.92 96.73 52.54 67.15 67.15 67.15
Nbr of stocks (in thousands) 197,877 201,074 203,916 202,023 200,273 186,902 - -
Announcement Date 10/3/22 9/3/23 7/3/24 13/3/25 17/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.84x9.55x15.6x0.78% 3,779B
122.39x53.41x86.68x-.--% 449B
20.74x5.91x10.35x1.45% 418B
246.44x21.98x64.36x-.--% 318B
2627.4x44.03x141.84x-.--% 270B
26.23x5.26x16.59x1.45% 242B
84.11x8.16x21.85x-.--% 134B
56.9x15.32x40.35x-.--% 129B
19.51x12.46x14.84x-.--% 102B
Average 358.84x 19.57x 45.83x 0.41% 649.08B
Weighted average by Cap. 166.90x 14.90x 29.89x 0.67%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield