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DCBO

Docebo TSX:DCBO Stock Report

Last Price

CA$46.60

Market Cap

CA$1.5b

7D

2.3%

1Y

-48.2%

Updated

12 Aug, 2022

Data

Company Financials +
DCBO fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance0/6
Financial Health5/6
Dividends0/6

DCBO Stock Overview

Docebo Inc. provides a cloud-based learning management system to train internal and external workforces, partners, and customers in North America, Europe, and the Asia-Pacific region.

Rewards

Earnings are forecast to grow 75.93% per year

Risk Analysis

No risks detected for DCBO from our risk checks.

Docebo Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Docebo
Historical stock prices
Current Share PriceCA$46.60
52 Week HighCA$117.55
52 Week LowCA$32.35
Beta1.6
1 Month Change31.12%
3 Month Change10.35%
1 Year Change-48.16%
3 Year Changen/a
5 Year Changen/a
Change since IPO191.25%

Recent News & Updates

Shareholder Returns

DCBOCA SoftwareCA Market
7D2.3%-0.3%2.5%
1Y-48.2%-26.8%-0.2%

Return vs Industry: DCBO underperformed the Canadian Software industry which returned -26.8% over the past year.

Return vs Market: DCBO underperformed the Canadian Market which returned -0.2% over the past year.

Price Volatility

Is DCBO's price volatile compared to industry and market?
DCBO volatility
DCBO Average Weekly Movement9.6%
Software Industry Average Movement13.4%
Market Average Movement10.8%
10% most volatile stocks in CA Market19.3%
10% least volatile stocks in CA Market4.3%

Stable Share Price: DCBO is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: DCBO's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005726Claudio Erbahttps://www.docebo.com

Docebo Inc. provides a cloud-based learning management system to train internal and external workforces, partners, and customers in North America, Europe, and the Asia-Pacific region. Its platform helps customers to centralize learning materials from peer enterprises and learners into one learning management system (LMS) to expedite and enrich the learning process, increase productivity, and grow teams uniformly. The company’s learning platform includes Docebo Learn LMS, a cloud-based learning platform; Docebo Shape, an AI-based learning content creation tool; Docebo Content that allows to unlock the industry’s best-learning content; Docebo Learning Impact, a learning measurement tool; Docebo Learning Analytics that allows learning administrators to prove their learning programs are powering their business, as well as connecting learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.

Docebo Fundamentals Summary

How do Docebo's earnings and revenue compare to its market cap?
DCBO fundamental statistics
Market CapUS$1.20b
Earnings (TTM)-US$5.62m
Revenue (TTM)US$123.86m

9.7x

P/S Ratio

-213.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
DCBO income statement (TTM)
RevenueUS$123.86m
Cost of RevenueUS$25.30m
Gross ProfitUS$98.56m
Other ExpensesUS$104.18m
Earnings-US$5.62m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.17
Gross Margin79.57%
Net Profit Margin-4.54%
Debt/Equity Ratio0%

How did DCBO perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

DCBO 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/Revenue8x
Enterprise Value/EBITDA-84.9x
PEG Ration/a

Price to Sales Ratio vs Peers

How does DCBO's PS Ratio compare to its peers?

DCBO PS Ratio vs Peers
The above table shows the PS ratio for DCBO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4.3x
ENGH Enghouse Systems
4.1x3.6%CA$1.8b
HUT Hut 8 Mining
4.3x-9.8%CA$738.7m
DND Dye & Durham
3.1x18.5%CA$1.4b
CVO Coveo Solutions
6.3x22.1%CA$789.1m
DCBO Docebo
9.7x24.2%CA$1.5b

Price-To-Sales vs Peers: DCBO is expensive based on its Price-To-Sales Ratio (9.7x) compared to the peer average (4.3x).


Price to Earnings Ratio vs Industry

How does DCBO's PE Ratio compare vs other companies in the CA Software Industry?

Price-To-Sales vs Industry: DCBO is expensive based on its Price-To-Sales Ratio (9.7x) compared to the Canadian Software industry average (4.1x)


Price to Sales Ratio vs Fair Ratio

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

DCBO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio9.7x
Fair PS Ratio7.1x

Price-To-Sales vs Fair Ratio: DCBO is expensive based on its Price-To-Sales Ratio (9.7x) compared to the estimated Fair Price-To-Sales Ratio (7.1x).


Share Price vs Fair Value

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

Below Fair Value: DCBO (CA$46.6) is trading above our estimate of fair value (CA$26)

Significantly Below Fair Value: DCBO is trading above our estimate of fair value.


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Docebo forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


75.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DCBO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.6%).

Earnings vs Market: DCBO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: DCBO is expected to become profitable in the next 3 years.

Revenue vs Market: DCBO's revenue (24.2% per year) is forecast to grow faster than the Canadian market (6.4% per year).

High Growth Revenue: DCBO's revenue (24.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DCBO's Return on Equity is forecast to be low in 3 years time (3.8%).


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Past Performance

How has Docebo performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-8.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: DCBO is currently unprofitable.

Growing Profit Margin: DCBO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: DCBO is unprofitable, and losses have increased over the past 5 years at a rate of 8.2% per year.

Accelerating Growth: Unable to compare DCBO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: DCBO is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (26.3%).


Return on Equity

High ROE: DCBO has a negative Return on Equity (-3%), as it is currently unprofitable.


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Financial Health

How is Docebo's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: DCBO's short term assets ($251.8M) exceed its short term liabilities ($76.3M).

Long Term Liabilities: DCBO's short term assets ($251.8M) exceed its long term liabilities ($6.9M).


Debt to Equity History and Analysis

Debt Level: DCBO is debt free.

Reducing Debt: DCBO had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: DCBO has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if DCBO has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is Docebo current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate DCBO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate DCBO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if DCBO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if DCBO's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as DCBO has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.0yrs

Average management tenure


CEO

Claudio Erba (47 yo)

17.58yrs

Tenure

US$1,138,257

Compensation

Mr. Claudio Erba is a Founder of Docebo S.p.A. and has been its Chief Executive Officer since March 2005. He serves as a Director at Docebo S.p.A. Mr. Erba served as a Board Vice President of RYSTO srl fro...


CEO Compensation Analysis

Compensation vs Market: Claudio's total compensation ($USD1.14M) is below average for companies of similar size in the Canadian market ($USD2.22M).

Compensation vs Earnings: Claudio's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: DCBO's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

Experienced Board: DCBO's board of directors are considered experienced (3.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: DCBO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Docebo Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Docebo Inc.
  • Ticker: DCBO
  • Exchange: TSX
  • Founded: 2005
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: CA$1.540b
  • Shares outstanding: 32.90m
  • Website: https://www.docebo.com

Number of Employees


Location

  • Docebo Inc.
  • 366 Adelaide Street West
  • Suite 701
  • Toronto
  • Ontario
  • M5V 1R9
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/12 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.