DocuSign Valuation

Is DOCUD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DOCUD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DOCUD ($3.9) is trading below our estimate of fair value ($4.66)

Significantly Below Fair Value: DOCUD is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DOCUD?

Key metric: As DOCUD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DOCUD. This is calculated by dividing DOCUD's market cap by their current earnings.
What is DOCUD's PE Ratio?
PE Ratio	16.2x
Earnings	US$988.02m
Market Cap	US$16.06b

DOCUD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	5.3x
Enterprise Value/EBITDA	80x
PEG Ratio	-0.4x

Price to Earnings Ratio vs Peers

How does DOCUD's PE Ratio compare to its peers?

The above table shows the PE ratio for DOCUD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	74.5x
MANH Manhattan Associates	75.7x	11.3%	US$16.7b
BSY Bentley Systems	40.6x	7.9%	US$14.7b
688111 Beijing Kingsoft Office Software	86x	19.3%	CN¥125.9b
DT Dynatrace	95.8x	21.7%	US$15.6b
DOCUD DocuSign	16.2x	-46.3%	US$16.1b

Price-To-Earnings vs Peers: DOCUD is good value based on its Price-To-Earnings Ratio (16.2x) compared to the peer average (75.7x).

Price to Earnings Ratio vs Industry

How does DOCUD's PE Ratio compare vs other companies in the Global Software Industry?

32 Companies	Price / Earnings	Estimated Growth	Market Cap

32 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: DOCUD is good value based on its Price-To-Earnings Ratio (16.2x) compared to the Global Software industry average (32x).

Price to Earnings Ratio vs Fair Ratio

What is DOCUD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DOCUD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DOCUD's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.