DocuSign, Inc.
DOCU 6.5Price and target zones价格与目标区间
What the company does公司做什么
DocuSign lets people sign documents electronically, and manage the whole agreement process in the cloud. Its name became the verb for e-signature. It is now adding tools to store and analyse the agreements themselves.DocuSign 让人们以电子方式签署文件，并在云端管理整个签约流程。它的名字已经成了"电子签名"这个动作的代名词。如今它还在增加用来存储和分析这些协议本身的工具。
Earns from营收来源 subscriptions. In FY2025, 97% of the $3.0 billion revenue was subscription.订阅。2025财年，30亿美元收入中有97%来自订阅。
Read the full description查看完整介绍
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.
What the company sells公司卖什么
The e-signature service and the newer agreement-management tools.电子签名服务，以及较新的协议管理工具。
- eSignature电子签名
- Send and sign agreements electronically. This is the core.以电子方式发送和签署协议。这是核心业务。
- Agreement Management (IAM)协议管理（IAM）
- AI tools that read, route, and store agreements.用 AI 工具读取、分发和存储协议。
- Contract Lifecycle Management合同全生命周期管理
- Automates writing, negotiating, and approving complex contracts.把复杂合同的起草、谈判和审批自动化。
Plus:此外： Professional services专业服务 (3%) — Setup and consulting设置和咨询.
Company facts公司资料
- Founded成立时间
- 2003
- Headquarters总部
- San Francisco, California
- Employees员工人数
- 7,044
- Industry行业
- Software - Application
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
E-sign moat; IAM pivot 11%→18% ARR target FY27. FCF $1.06B but SBC consumes 59%. Add $40-43 only if IAM progressing. Break: IAM stalls <12% ARR. A2026-05-06
电子签名护城河；IAM 转型，目标 FY27 ARR 占比 11%→18%。自由现金流 $1.06B，但股权激励（SBC）吞掉了 59%。只有在 IAM 有进展时才在 $40-43 加仓。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 16%
- Revenue growth营收增长
- +9%
Competitors竞争对手
Why customers stay客户为什么留下
More than a million customers and hundreds of millions of signers make DocuSign the default that the other party already recognises and trusts. The signature technology itself is becoming a commodity; the brand and the installed base are the durable part. Note: stock-based pay is high — about two-thirds of free cash flow — so cash-flow valuations should be discounted.超过一百万的客户和数以亿计的签署者，让 DocuSign 成了默认选择——签约的对方早已认识并信任它。签名技术本身正在变成一种通用商品；真正持久的部分是这个品牌和庞大的装机用户群。要注意：它的股权激励支出很高——大约占自由现金流的三分之二——所以用现金流做出的估值应当打个折扣。
Recent news近期新闻 last 7 days近7天
- DocuSign (DOCU) Stock Falls Amid Market Uptick: What Investors Need to KnowZacks
- DocuSign (DOCU) Could Be 3% Undervalued On Its Latest Earnings SetupSimply Wall St.
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