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DocuSign Inc. (D1OC34) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of DocuSign Inc. BRL 18.72, price BRL 17.04, upside +9.9%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Technology · BR · Home US

DI Some data Sep 23, 2026

DocuSign Inc.

D1OC34 · SA

NeutralQuality growthThe stock looks roughly fairly valued with average quality.

·Fair value R$18.72 · Fairly valued (+9.9%)
✓Quality 72/100
✓Healthy Growth (revenue 5y +17.2 %/yr)
!Thin margins · 9.6% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (9/10)
!Moderate moat 54/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$81.41 R$9.63 Fair Value R$18.72 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range R$9.63 – R$81.41 · fair‑value band R$13.10 – R$24.33 · the R$17.04 price screens below the R$18.72 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

DocuSign, Inc. provides electronic signature solution in the United States and internationally.

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DocuSign, Inc. provides electronic signature solution in the United States and internationally. 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. (D1OC34) currently trades at R$17.04, while our model-based Fair Value estimate is R$18.72, so the stock looks roughly fairly valued today (gap 9.0%).

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Valuation

Bull case: the DCF Models group reads highest at a median of R$18.93 per share, and 7 of the 24 models we run sit above the R$17.04 price.

Bear case: the Economic Profit group reads lowest at R$3.55, and 17 of the 24 models stay below the price. Evidence for this calculation is medium.

Scenario range: R$13.10 (bear) to R$24.33 (bull), the price of R$17.04 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 72/100 (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 R$52.0B (≈ $10.0B) · P/E ratio 42.6 · P/S ratio 4.09 · EPS (TTM) R$0.4000 · Net margin 9.6% · Return on equity 16.4% · Return on assets (EBIT) 1.5% · Operating margin 13.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 59% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at 10%, D1OC34 screens cheaper than that median.

Fair Value models

Bear R$13.10 Fair Value R$18.72 Bull R$24.33
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 8 months old). Earnings retained since then (R$0.2685 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. Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF R$19.91 R$36.35 R$69.38 76
Growth DCF R$19.45 R$34.68 R$60.56 76
5Y EBITDA Exit R$11.80 R$18.93 R$27.86 74
All 24 models by family
DCF Models
FCF DCF R$19.91 R$36.35 R$69.38 76
Owner Earnings R$6.60 R$11.94 R$21.57 73
5Y Revenue Exit R$9.44 R$13.81 R$19.39 73
5Y EBITDA Exit R$11.80 R$18.93 R$27.86 74
5Y P/E Exit R$12.58 R$20.63 R$30.00 70
10Y Revenue Exit R$12.67 R$18.23 R$26.31 67
10Y EBITDA Exit R$14.36 R$22.01 R$33.62 68
10Y P/E Exit R$14.88 R$23.27 R$35.46 63
Earnings-Based
Graham-Dodd R$2.87 R$15.86 R$22.01 63
Lynch FV R$4.42 R$6.31 R$8.21 61
PEG = 1.0 R$4.42 R$6.31 R$8.21 57
EPV R$4.16 R$4.69 R$5.15 74
Multiples
P/E Multiple R$8.88 R$11.83 R$14.79 63
P/S Multiple R$5.39 R$7.19 R$8.98 58
P/B Multiple R$5.39 R$7.19 R$8.98 55
EV/EBIT R$8.17 R$10.62 R$13.07 66
EV/EBITDA R$8.48 R$11.03 R$13.58 67
EV/Revenue R$4.54 R$6.13 R$7.72 54
Asset-Based
NCAV (Graham) R$1.31 R$1.76 R$2.62 54
Growth DCF
Growth DCF R$19.45 R$34.68 R$60.56 76
Rev-Margin DCF R$9.44 R$13.92 R$20.03 72
Economic Profit
Residual Income R$2.69 R$3.55 R$5.55 69
ROIC Compounder R$4.71 R$6.13 R$8.00 72
Growth Earnings
Growth-Adj P/E R$7.49 R$10.69 R$13.90 67

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Quality Score breakdown

Overall quality 72/100

Of which business quality 74 · Market factors (momentum, volatility) 48

Profitability 62
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 95
Share count: buybacks or dilution?

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Revenue & earnings trend

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)
Revenue growth 7 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.
+24.3%
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.
+63.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+63.1%
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%

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Recent news

News mood ⓘNews mood, the average tone of recent news (96 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.

Compare DocuSign Inc. with another stock

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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 · 685 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 72 · Top 25%
Fair Value upside +5.6% · Above median
Profitability
Return on equity (TTM) 16.4% · Top 25%
Return on assets 5.5% · Above median
Net margin (TTM) 9.6% · Above median
Operating margin (TTM) 13.4% · Above median
Growth and dividend
Revenue growth 8.7% · Above median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/E (TTM) 42.6× · Pricier than median
PEG 0.58× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)42 · sector 27
FUTURE (revenue growth)44 · sector 41
PAST (return on equity)66 · sector 15
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 32

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €186.74 €172.46 −8%
Salesforce, Inc CRM $229.57 $342.73 +49%
Shopify Inc SHOP $144.01 $64.36 −55%
ServiceNow, Inc NOW $134.01 $147.41 +10%
Uber Technologies, Inc UBER $69.36 $103.69 +49%
Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $239.94 $454.04 +89%
Datadog, Inc DDOG $268.70 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.70 $225.48 −31%

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DocuSign Inc. · Fair Value
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Cite: Fair Value Calculator (2026). "DocuSign Inc. Fair Value". https://www.fairvalue-calculator.com/stock/D1OC34

Frequently asked questions

Is DocuSign Inc. (D1OC34) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of R$18.72 versus a price of R$17.04, about +10% upside (fairly valued).
What is the fair value of D1OC34?
Our model-based fair value for DocuSign Inc. is R$18.72 (as of Sep 23, 2026), built from audited fundamentals. The current price: R$17.04.
What is the quality score of D1OC34?
DocuSign Inc. has a Quality Score of 72/100. 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. (D1OC34)?
Our model-based price target is the fair value of R$18.72 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario R$13.10, optimistic scenario R$24.33. 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 R$18.72, about +10% upside versus a price of R$17.04 (fairly valued). Cautious scenario R$13.10, optimistic scenario R$24.33. The calculation is refreshed regularly with new filings.
What is the revenue of DocuSign Inc. (D1OC34)?
DocuSign Inc. reported trailing-twelve-month revenue of about $3.3B (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of DocuSign Inc. (D1OC34)?
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 R$18.72 per share (as of Sep 23, 2026), against a price of R$17.04. 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 Sep 23, 2026, D1OC34 trades below its calculated fair value: price R$17.04, fair value R$18.72, a gap of about +10% (fairly valued). 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 D1OC34?
No. The price is what the market pays today (R$17.04); the fair value is what the company's own numbers justify (R$18.72). For DocuSign Inc. the two are R$1.68 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 R$52.0B (market capitalisation, as of Sep 23, 2026). Per share that is R$17.04; our models calculate a fair value of R$18.72 per share.
What do the bullish and bearish scenarios say about D1OC34?
Our models span a range for DocuSign Inc.: cautious scenario R$13.10, base R$18.72, optimistic R$24.33 per share (as of Sep 23, 2026, price R$17.04). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of D1OC34?
DocuSign Inc. trades at a price-to-earnings ratio of 42.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$18.72 is built from several models across several years. Other multiples: PEG 0.6.
What is the PEG ratio of D1OC34?
The PEG ratio of DocuSign Inc. is 0.58 (P/E divided by earnings growth, as of Sep 23, 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. (D1OC34)?
Balance-sheet figures for DocuSign Inc. (as of Sep 23, 2026): return on equity 16.4%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is D1OC34 from its 52-week high?
DocuSign Inc. trades at R$17.04, about 14% below its 52-week high of R$19.70 and 59% above the low of R$10.69 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of R$18.72 is for.
Which stocks are comparable to DocuSign Inc.?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify 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 Sep 23, 2026: price R$17.04, calculated fair value R$18.72 (+10%), Quality Score 72/100, 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 D1OC34 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 R$18.72, 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 14.5 % above its aggregate fair value. DocuSign Inc. currently trades 9 % 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. (D1OC34)?
The closing price on Oct 1, 2026 was R$17.04. Our model-based fair value is R$18.72, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DocuSign Inc. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (R$13.10 to R$24.33) leaves room in how you read the outcome.

Key figures of DocuSign Inc.

How large is the market capitalisation of DocuSign Inc. (D1OC34)?
The market capitalisation of DocuSign Inc. is R$52.0B (≈ $10.0B). 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. (D1OC34)?
The price-to-sales ratio of DocuSign Inc. is 4.09 (P/E × margin). 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. (D1OC34)?
Earnings per share at DocuSign Inc. are R$0.4000 (price ÷ EPS = P/E 42.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of DocuSign Inc. (D1OC34)?
The net margin of DocuSign Inc. is 9.6% (fiscal year 2026). 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. (D1OC34)?
The return on equity (ROE) of DocuSign Inc. is 16.4% (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. (D1OC34)?
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. (D1OC34)?
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. (D1OC34)?
Revenue at DocuSign Inc. is growing +8.7% 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. (D1OC34)?
Earnings per share at DocuSign Inc. are growing +17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does DocuSign Inc. (D1OC34) generate?
The free cash flow of DocuSign Inc. is $1.1B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does DocuSign Inc. (D1OC34) carry?
The net debt of DocuSign Inc. is $992K (fiscal year 2023, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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