DocuSign, Inc. (DOCU) Stock

DocuSign, Inc. (DOCU) is a Technology stock trading at $62.27 (as of 2026-08-20), with a market capitalization of $11.89B and a trailing P/E of 37.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

DocuSign provides electronic signature software and related tools for preparing, signing, and managing agreements. Its offerings include contract lifecycle management and products such as agreement insights, Salesforce-based agreement generation and negotiation support, and form and identity-related signing options for customers in the U.S. and internationally.

Understand DocuSign, Inc.: how it makes money

DocuSign provides electronic signature and contract lifecycle management software that helps businesses digitally prepare, sign, act on, and manage agreements, and it makes money primarily through subscription revenue tied to recurring agreement workflows.

DocuSign’s profit model is driven by subscription recurring revenue, where growth depends on sustaining and slightly expanding customer spending as measured by Dollar Net Revenue Retention alongside Annual Recurring Revenue.

Revenue by segment (latest quarter)
Subscription$0.8B

Business quality (Mixed): The business shows subscription-led recurring revenue and measurable retention (Dollar Net Revenue Retention), with additional operating visibility through Annual Recurring Revenue and customer counts around intelligent agreement management.

Valuation: Trades at 29× trailing earnings · $9B market cap.

Bull case

  • Subscription-led recurring revenue base: Subscription Revenue is reported as the full 0.8B of revenue in the provided segment candidates, supporting revenue visibility relative to one-time services.
  • Retention above 100%: Dollar Net Revenue Retention is 102%, indicating customers are paying at slightly higher dollars than the prior period, which supports growth within the existing base.
  • Large, measurable usage and product attach signals: There are 1.6M Monthly Paying Customers and 25,000 Intelligent Agreement Management Customers, with 200M private consents agreements ingested into DocuSign Navigator and 150M opted-in agreements in the repository.
  • Healthy profitability profile (provided quarter data): Gross margin is 79.4% and operating margin is 13.4% for the period shown.

Bear case

  • Limited evidence of strong expansion beyond modest retention: Dollar Net Revenue Retention is 102%, which is only slightly above 100%, so profit momentum could be sensitive if retention slips.
  • Potential conversion or adoption gap in intelligent agreement management: Customers investing in the Intelligent Agreement Management Roadmap (40,000) is higher than Intelligent Agreement Management Customers (25,000), suggesting not all roadmap-investing customers have become paying intelligent agreement management customers.
  • International is a meaningful but smaller slice of revenue: International Revenue is 0.18B versus total revenue of 0.8B in the provided financial snapshot, so results could be more exposed to US-led demand than to international diversification.
Valuation — source: SEC EDGAR (first-party)
Price$62.27
Market Cap$11.89B
P/E Ratio37.7
EV / EBITDA24.2
Price / Book6.53
Price / Sales3.62
FCF Yield9.4%
DCF Value (model)$106.04
DCF Upside vs Price70.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.22B
Net Margin9.6%
Revenue Growth (YoY)8.7%
EPS Growth (YoY)14.3%
FCF Growth (YoY)27.0%
Financial Health — source: SEC EDGAR
Altman Z-Score3.37 (safe)
Valuation vs Sector & Industry
Stock P/E37.7
Sector P/E (Technology)33.9
Industry P/E (Business Services)30.0
vs Sector11.2%
vs Industry25.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($1.47B)
Institutional Holders Tracked10
Congressional Trades (recent)3
Company
SectorTechnology
IndustryBusiness Services
CEOAllan C. Thygesen
Employees6,838
CountryUS
IPO Date2018-04-27

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DOCU earnings history · DOCU institutional & insider holders · DOCU KPIs & operating metrics · DOCU financials · DOCU investor presentations & press releases · DOCU SEC filings · DOCU peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.