Docusign
DOCU · NasdaqServices-Prepackaged Software · Fiscal year ends Jan 31
Docusign reported revenue of $3.2B in the fiscal year ended Jan 2026, up 8.2% from the year before. Operating income was $299M, an operating margin of 9.3%, and net income was $309M. Operating cash flow of $1.2B less capital expenditure of $106M left free cash flow of $1.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $2.1B | $2.5B | $2.8B | $3B | $3.2B |
| Cost of revenue | $466M | $536M | $573M | $622M | $663M |
| Gross profit | $1.6B | $2B | $2.2B | $2.4B | $2.6B |
| Research & development | $393M | $481M | $539M | $588M | $665M |
| Operating income | −$62M | −$88M | $32M | $200M | $299M |
| Interest expense | $6M | $6M | $7M | $2M | $3M |
| Pre-tax income | −$67M | −$90M | $94M | $248M | $347M |
| Income tax | $3M | $8M | $20M | −$820M | $38M |
| Net income | −$70M | −$97M | $74M | $1.1B | $309M |
| Diluted EPS | −0.36 | −0.49 | 0.36 | 5.08 | 1.48 |
| Diluted shares | 197M | 201M | 209M | 210M | 209M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $509M | $722M | $797M | $649M | $602M |
| Receivables | $441M | $517M | $439M | $430M | $516M |
| Current assets | $1.3B | $1.6B | $1.6B | $1.5B | $1.5B |
| Net PP&E | $185M | $200M | $245M | $299M | $362M |
| Goodwill | $355M | $354M | $353M | $454M | $458M |
| Total assets | $2.5B | $3B | $3B | $4B | $4.2B |
| Payables | $53M | $24M | $19M | $31M | $17M |
| Deferred revenue | $1B | $1.2B | $1.3B | $1.5B | $1.6B |
| Current liabilities | $1.4B | $2.2B | $1.7B | $1.8B | $2B |
| Total liabilities | $2.3B | $2.4B | $1.8B | $2B | $2.3B |
| Shareholders' equity | $276M | $617M | $1.1B | $2B | $1.9B |
| Backlog (remaining obligations) | $1.6B | $1.9B | $2.2B | $2.4B | $2.4B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $506M | $507M | $980M | $1B | $1.2B |
| Capital expenditure | $61M | $78M | $92M | $97M | $106M |
| Free cash flow | $445M | $429M | $887M | $920M | $1.1B |
| Depreciation & amortisation | $82M | $86M | $95M | $108M | $116M |
| Stock-based compensation | $409M | $539M | $617M | $610M | $622M |
| Acquisitions | $6M | $0 | $0 | $144M | $0 |
| Share buybacks | $0 | $63M | $146M | $684M | $869M |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 19.4% | 9.8% | 7.8% | 8.2% |
| Operating income growth (YoY) | – | – | – | 532.0% | 49.3% |
| EPS growth (YoY) | – | – | – | 1311.1% | −70.9% |
| Gross margin | 77.9% | 78.7% | 79.3% | 79.1% | 79.4% |
| Operating margin | −2.9% | −3.5% | 1.1% | 6.7% | 9.3% |
| Net margin | −3.3% | −3.9% | 2.7% | 35.9% | 9.6% |
| Return on equityBlank when equity is negative | −25.4% | −15.8% | 6.5% | 53.3% | 16.1% |
| ROCEEBIT ÷ (assets − current liabilities) | −5.3% | −10.9% | 2.4% | 9.2% | 13.6% |
| Free cash flow margin | 21.1% | 17.1% | 32.1% | 30.9% | 32.9% |
| Cash conversion (CFO ÷ net income) | −7.24x | −5.20x | 13.2x | 0.95x | 3.77x |
| Receivable days | 76 | 75 | 58 | 53 | 59 |
| Payable days | 41 | 17 | 12 | 18 | 10 |
| Interest cover | −9.60x | −13.8x | 4.62x | 129x | 117x |
| Current ratio | 0.96x | 0.74x | 0.94x | 0.81x | 0.73x |
Recent filings
More in Services-Prepackaged Software
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.