DocuSign Valuation

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

DOCU * (MX$1215) is trading below our estimate of [[fair value]] (MX$1975.22)

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

Valuation Score

4/6

Valuation Score 4/6

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 DOCU * when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DOCU * (MX$1215) is trading below our estimate of fair value (MX$1975.22)

Significantly Below Fair Value: DOCU * is trading below fair value by more than 20%.

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for DOCU *. This is calculated by dividing DOCU *'s market cap by their current preferred multiple.
What is DOCU *'s n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$12.69b

DOCU * 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	4.2x
Enterprise Value/EBITDA	62.3x
PEG Ratio	-0.3x

Price to Earnings Ratio vs Peers

How does DOCU *'s PE Ratio compare to its peers?

The above table shows the PE ratio for DOCU * 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	50.6x
NEM Nemetschek	62.2x	17.0%	€11.0b
688111 Beijing Kingsoft Office Software	71.3x	18.9%	CN¥102.7b
532466 Oracle Financial Services Software	42.3x	11.7%	₹988.1b
NICE NICE	26.7x	14.9%	₪39.5b
DOCU * DocuSign	12.7x	-46.3%	Mex$12.7b

Price-To-Earnings vs Peers: DOCU * is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (50.7x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	0%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	0%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: DOCU * is good value based on its Price-To-Earnings Ratio (12.7x) compared to the Global Software industry average (31x).

Price to Earnings Ratio vs Fair Ratio

What is DOCU *'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.

DOCU * PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DOCU *'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?

The above table shows the analyst DOCU * forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	Mex$1,215.00	Mex$1,271.39 +4.6%	16.0%	Mex$1,707.22	Mex$981.16	n/a	17
Sep ’25	Mex$1,200.00	Mex$1,110.56 -7.5%	17.5%	Mex$1,540.55	Mex$859.84	n/a	18
Aug ’25	Mex$1,017.41	Mex$1,110.56 +9.2%	17.5%	Mex$1,540.55	Mex$859.84	n/a	18
Jul ’25	Mex$1,002.00	Mex$1,171.18 +16.9%	17.1%	Mex$1,613.68	Mex$900.66	n/a	19
Jun ’25	Mex$915.70	Mex$1,109.16 +21.1%	16.9%	Mex$1,580.64	Mex$815.81	n/a	19
May ’25	Mex$950.00	Mex$1,094.49 +15.2%	17.2%	Mex$1,548.89	Mex$799.43	n/a	20
Apr ’25	Mex$1,017.00	Mex$1,089.33 +7.1%	18.3%	Mex$1,556.27	Mex$803.24	n/a	20
Mar ’25	Mex$935.00	Mex$1,023.58 +9.5%	22.0%	Mex$1,534.31	Mex$750.11	n/a	20
Feb ’25	Mex$1,065.00	Mex$1,049.15 -1.5%	21.2%	Mex$1,549.41	Mex$757.49	n/a	20
Jan ’25	Mex$1,010.00	Mex$1,008.08 -0.2%	22.5%	Mex$1,543.73	Mex$754.71	n/a	20
Dec ’24	Mex$767.00	Mex$1,108.26 +44.5%	21.3%	Mex$1,568.59	Mex$721.19	n/a	19
Nov ’24	Mex$700.00	Mex$1,108.26 +58.3%	21.3%	Mex$1,568.59	Mex$721.19	n/a	19
Oct ’24	Mex$732.00	Mex$1,095.26 +49.6%	20.1%	Mex$1,538.46	Mex$742.71	n/a	19
Sep ’24	Mex$870.00	Mex$1,110.99 +27.7%	17.6%	Mex$1,432.31	Mex$750.26	Mex$1,200.00	18
Aug ’24	n/a	Mex$1,122.12 0%	16.4%	Mex$1,434.43	Mex$819.67	Mex$1,017.41	18
Jul ’24	Mex$873.97	Mex$1,122.12 +28.4%	16.4%	Mex$1,434.43	Mex$819.67	Mex$1,002.00	18
Jun ’24	Mex$1,013.28	Mex$1,167.63 +15.2%	18.8%	Mex$1,591.96	Mex$795.98	Mex$915.70	18
May ’24	Mex$886.00	Mex$1,238.98 +39.8%	17.9%	Mex$1,665.48	Mex$888.25	Mex$950.00	17
Apr ’24	Mex$1,033.00	Mex$1,238.98 +19.9%	17.9%	Mex$1,665.48	Mex$888.25	Mex$1,017.00	17
Mar ’24	Mex$1,125.00	Mex$1,181.01 +5.0%	18.7%	Mex$1,652.90	Mex$881.54	Mex$935.00	17
Feb ’24	Mex$1,144.00	Mex$1,171.62 +2.4%	20.8%	Mex$1,688.34	Mex$712.85	Mex$1,065.00	18
Jan ’24	Mex$1,013.72	Mex$1,173.84 +15.8%	23.2%	Mex$1,757.99	Mex$742.26	Mex$1,010.00	18
Dec ’23	Mex$900.00	Mex$1,292.12 +43.6%	23.2%	Mex$1,793.98	Mex$848.76	Mex$767.00	18
Nov ’23	Mex$947.00	Mex$1,370.35 +44.7%	21.4%	Mex$1,858.56	Mex$879.32	Mex$700.00	17
Oct ’23	Mex$1,099.00	Mex$1,421.28 +29.3%	18.1%	Mex$1,871.44	Mex$1,066.52	Mex$732.00	17
Sep ’23	Mex$1,220.00	Mex$1,502.39 +23.1%	31.9%	Mex$3,041.28	Mex$1,007.05	Mex$870.00	16

Analyst Forecast: Target price is less than 20% higher than the current share price.