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 12,550 - -
Change - -51.01% 1.88% 57.31% -46.15% 19.27% - -
Enterprise Value (EV) 1 24,803 11,698 11,255 18,444 9,656 11,431 10,242 8,856
Change - -52.83% -3.79% 63.87% -47.65% 18.38% -10.4% -13.53%
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 3.58x 3.32x 3.09x
EV / Revenue 11.8x 4.65x 4.08x 6.2x 3x 3.26x 2.71x 2.18x
EV / EBITDA 52.1x 20.1x 14.3x 19x 9.04x 9.19x 7.69x 6.15x
EV / EBIT 59.2x 22.6x 15.8x 20.8x 9.98x 10.4x 8.45x 6.59x
EV / FCF 55.7x 27.3x 12.7x 20x 9.12x 9.59x 7.85x 6.06x
FCF Yield 1.79% 3.67% 7.88% 4.99% 11% 10.4% 12.7% 16.5%
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.($)
26.04x9.62x15.73x0.77% 3,809B
122.44x53.43x86.72x-.--% 449B
20.67x5.89x10.32x1.45% 416B
252.08x22.5x65.87x-.--% 325B
2647.5x44.38x142.94x-.--% 272B
26.28x5.27x16.62x1.44% 243B
86.75x8.42x22.54x-.--% 139B
57.81x15.57x41.01x-.--% 131B
18.54x11.83x14.1x-.--% 97.19B
Average 362.01x 19.66x 46.21x 0.41% 653.47B
Weighted average by Cap. 168.63x 14.98x 30.15x 0.66%

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