DocuSign Inc (DOCU) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of DocuSign Inc stock $88.55, price $78.92, upside +12.2%, quality 71 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $38.53 – $310.05 · fair‑value band $61.99 – $115.11 · the $78.92 price screens below the $88.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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DocuSign, Inc. provides electronic signature solution in the United States and internationally.
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The company offers AI-powered intelligent agreement management (IAM) platform to optimize the gain intelligence and automation across the entire agreement lifecycle; and provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; and Document Generation streamlines the process of generating new, custom agreements.
It also provides Identify, a signer-identification option for checking government-issued IDs; Standards-Based Signatures, which support signatures that involve digital certificates; Monitor that uses advanced analytics; Notary which enables notaries public to conduct remote online notarization transactions; and Web Forms.
In addition, the company offers Real Estate for eSignature that provides a way for brokers and agents to manage the entire real estate transaction digitally. eSignature and CLM are Federal Risk and Authorization Management Program (FedRAMP), an authorized version of DocuSign eSignature for U.S. federal government agencies; and life sciences modules that support compliance with the electronic signature practices.
The company sells its products through direct and partner-assisted sales, and digital self-service purchasing. DocuSign, Inc. was incorporated in 2003 and is headquartered in San Francisco, California.
Stock analysis
DocuSign Inc (DOCU) currently trades at $78.92, while our model-based Fair Value estimate is $88.55, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $84.84 per share, and 6 of the 24 models we run sit above the $78.92 price.
Bear case: the Economic Profit group reads lowest at $14.60, and 18 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $61.99 (bear) to $115.11 (bull), the price of $78.92 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
DocuSign Inc reported revenue of $3.2B in FY2026 versus $2.1B in FY2022, a compound +11.2%/yr. Reported net income was $309M in FY2026.
Key figures
Market cap $16.2B Large · P/E ratio 48.1 · P/S ratio 4.81 · EPS (TTM) $1.64 · Net margin 9.8% · Return on equity 17.8% · Return on assets (EBIT) 1.5% · Operating margin 13.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 7% below its 52-week high and 89% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 17% fair-value upside, at 12%, DOCU screens richer than that median.
Fair Value models
Bear$61.99Fair Value $88.55Bull$115.11
Price $78.92 · Upside +12.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 9 months old). Earnings retained since then ($1.25 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
SaleJames P ShaughnessyChief Legal Officer4× since Jan 2, 2026: 48,000 shares, avg. $57.05$2.7MOct 1, 202610b5-1 plan
SaleAllan C. ThygesenPresident and CEO, Director4× since Jan 9, 2026: 105,000 shares, avg. $58.17$6.1MOct 1, 202610b5-1 plan
SaleRobert ChatwaniPresident General Mgr, Growth5× since Dec 11, 2025: 63,758 shares, avg. $57.04$3.6MSep 17, 202610b5-1 plan
SaleAnna MarrsDirector7× since Dec 2, 2025: 2,732 shares, avg. $57.26$156,426Sep 14, 202610b5-1 plan
SalePeter SolvikDirector46,000 shares at $65.24$3.0MSep 10, 2026
SaleTeresa BriggsDirector4× since Nov 28, 2025: 1,642 shares, avg. $57.89$95,049Sep 10, 202610b5-1 plan
SaleBlake Jeffrey GraysonChief Financial Officer5× since Dec 17, 2025: 91,015 shares, avg. $63.42$5.8MSep 8, 202610b5-1 plan
SaleJames A BeerDirector4× since Dec 2, 2025: 1,800 shares, avg. $58.16$104,679Aug 28, 202610b5-1 plan
Plus 34 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
Start year 2021 (pandemic). Over 10 years: +29.1% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.1%
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What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+46.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+46.1%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−12% → 9%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.8% a year for the price and +4.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: High gross margins support profitability while the PDF editor integration closes workflow gaps, yet thin evidence of durable advantages and competition constrain any lasting moat.
Main risk: Advances in AI could make foundational agreement capabilities such as analyzing and summarizing text cheaper to replicate, allowing new entrants or existing platforms to compete with DocuSign's core offerings and pressure its pricing or market position.
Bull case: DocuSign could leverage its proprietary dataset of hundreds of millions of private agreements and deep integrations with platforms like Salesforce and Slack to build defensible AI features that generic models cannot easily match.
Bear case: If AI tools from hyperscalers or Adobe replicate core functions at lower cost, customers might shift to embedded solutions and DocuSign's e-signature and IAM revenue could stagnate or decline as the category commoditizes.
DocuSign integrates a desktop PDF editor directly into its Intelligent Agreement Management platform to handle preparation, editing, and signing in one flow. Over 70 percent of its e-signature requests begin as PDFs, so this closes a frequent gap that previously forced users into separate tools. The step expands the platform for its large customer base but enters territory long dominated by dedicated PDF software. Does this deepen lock-in and lift IAM growth or mainly defend the core e-signature business?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 633 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside+12.2% · Above median
Profitability
Return on equity (12 months)17.8% · Top 25%
Return on assets7.3% · Above median
Net margin (12 months)9.8% · Above median
Operating margin (12 months)13.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)9.4% · Above median
Balance sheet
Debt / equity0.38× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "DocuSign Inc Fair Value". https://www.fairvalue-calculator.com/stock/DOCU
Frequently asked questions
Is DocuSign Inc (DOCU) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $88.55 versus a price of $78.92, about +12% upside (undervalued).
What is the fair value of DOCU?
Our model-based fair value for DocuSign Inc is $88.55 (as of Nov 6, 2026), built from audited fundamentals. The current price: $78.92.
What is the quality score of DOCU?
DocuSign Inc has a Quality Score of 71/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for DocuSign Inc (DOCU)?
Our model-based price target is the fair value of $88.55 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario $61.99, optimistic scenario $115.11. It is a calculation from audited fundamentals, not an analyst target.
What is the DocuSign Inc stock forecast for 2026?
Our models put fair value at $88.55, about +12% upside versus a price of $78.92 (undervalued). Cautious scenario $61.99, optimistic scenario $115.11. The calculation is refreshed regularly with new filings.
What is the revenue of DocuSign Inc (DOCU)?
DocuSign Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 6, 2026).
What growth is priced into DocuSign Inc (DOCU)?
For today's price to be fair in a discounted-cash-flow model, DocuSign Inc would have to grow free cash flow by +3.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of DOCU use?
Our models discount DocuSign Inc at 8.9 %: a base by market capitalisation (large), damped by beta 0.86, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For DocuSign Inc that is +3.2 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has DocuSign Inc (DOCU) delivered so far?
Over the past 5 years revenue at DocuSign Inc grew +17.3 % a year. The price currently implies +3.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of DocuSign Inc (DOCU) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into DocuSign Inc (+3.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of DocuSign Inc (DOCU)?
The free-cash-flow yield on the price is 6.55 %: that much free cash flow DocuSign Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of DocuSign Inc (DOCU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DocuSign Inc it is $88.55 per share (as of Nov 6, 2026), against a price of $78.92. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is DocuSign Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, DOCU trades below its calculated fair value: price $78.92, fair value $88.55, a gap of about +12% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DOCU?
No. The price is what the market pays today ($78.92); the fair value is what the company's own numbers justify ($88.55). For DocuSign Inc the two are $9.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is DocuSign Inc worth?
The market values DocuSign Inc at about $16.2B (market capitalisation, as of Nov 6, 2026). Per share that is $78.92; our models calculate a fair value of $88.55 per share.
What do the bullish and bearish scenarios say about DOCU?
Our models span a range for DocuSign Inc: cautious scenario $61.99, base $88.55, optimistic $115.11 per share (as of Nov 6, 2026, price $78.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DOCU?
DocuSign Inc trades at a price-to-earnings ratio of 48.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $88.55 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 42.9 (reported for FY2026: 52.3). Other multiples: PEG 0.8, P/B 8.4, P/S 4.8, EV/EBITDA 36.8.
What is the PEG ratio of DOCU?
The PEG ratio of DocuSign Inc is 0.81 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of DocuSign Inc (DOCU)?
Balance-sheet figures for DocuSign Inc (as of Nov 6, 2026): return on equity 17.8%, debt of 0.38 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is DOCU from its 52-week high?
DocuSign Inc trades at $78.92, about 7% below its 52-week high of $85.27 and 89% above the low of $41.75 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $88.55 is for.
Which stocks are comparable to DocuSign Inc?
From the same area (Technology) we also value SAP SE, Shopify Inc, Salesforce, Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is DocuSign Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $78.92, calculated fair value $88.55 (+12%), Quality Score 71/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DOCU calculated?
We run DocuSign Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $88.55, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. DocuSign Inc currently trades 11% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of DocuSign Inc (DOCU)?
The closing price on Nov 5, 2026 was $78.92. Our model-based fair value is $88.55, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DocuSign Inc right now?
A fairly wide model range ($61.99 to $115.11) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of DocuSign Inc
How large is the market capitalisation of DocuSign Inc (DOCU)?
The market capitalisation of DocuSign Inc is $16.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of DocuSign Inc (DOCU)?
The price-to-sales ratio of DocuSign Inc is 4.81 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of DocuSign Inc (DOCU)?
Earnings per share at DocuSign Inc are $1.64 (price ÷ EPS = P/E 48.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of DocuSign Inc (DOCU)?
The net margin of DocuSign Inc is 9.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of DocuSign Inc (DOCU)?
The return on equity (ROE) of DocuSign Inc is 17.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of DocuSign Inc (DOCU)?
On an EBIT basis the return on assets of DocuSign Inc is 1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of DocuSign Inc (DOCU)?
The operating margin of DocuSign Inc is 13.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DocuSign Inc (DOCU)?
Revenue at DocuSign Inc is growing +9.4% versus a year earlier (3y avg +8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at DocuSign Inc (DOCU)?
Earnings per share at DocuSign Inc are growing +33.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does DocuSign Inc (DOCU) hold?
DocuSign Inc holds more cash than debt, $417M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Nov 6, 2026