Market Pulse50Neutral

DocuSign, Inc.Opportunity Rank #27(DOCU) Intrinsic Value & DCF Analysis (2026)

Sector: Technology

Current Price

$48.79

Last updated: Mar 24, 2026

Price vs Intrinsic Value

$48.79
Price
$186.24
Intrinsic Value
Undervalued by 282%MOS: $148.99

Fundamental Score

82/100
Bullish

Weighted across 6 signals

Narrative Score

73/100
Strong

-1 vs previous

The intrinsic value of DocuSign, Inc. (DOCU) is estimated at $186.24 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $48.79, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 14.72% long-term growth rate and a 10.00% discount rate (calculated: 9.21%), reflecting expected future free cash flow and cost of capital.

The intrinsic value of DocuSign, Inc. (DOCU) is estimated at $186.24 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $48.79, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 14.72% long-term growth rate and a 10.00% discount rate (calculated: 9.21%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$186.24
281.72% upside
20% margin of safety: $148.99
Years: 10Growth Rate: 14.72%
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Capital Efficiency

Average Quarterly ROIC
6.71%
Cost of Capital (estimated)9%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

82/100
BullishWeighted across 6 signals
DCF Discount
281.7% discount to price
100
FCF Yield
13.4% trailing FCF yield
100
ROIC vs WACC
ROIC 6.7% vs WACC 9.0% (0.7x)
37
Net Debt / FCF
Net cash position
100
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
27.4% 5Y FCF CAGR
100
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC.

Narrative Details

73/100
Strong
-1 vs previousVs 6-Month Baseline:High (92nd pct)Weighted across 6 recent drivers
Trend: Improving upConfidence: 91%Updated: 1h ago
Sources: 77 (64 News · 13 Analyst)
Drivers(last 30 days)
50 news sentiment+2.6
Downgrade headlines-0.2
11 regulatory scrutiny-0.1
2 layoffs+0.0
Analyst downgrades-0.0
12 analyst reiterations0.0

Investment Coach

Updated 11h ago
BUYConfidence: 72%
Thesis
DocuSign, Inc. is significantly undervalued with an estimated fair value 288.6% above its current price, supported by strong fundamentals and an improving narrative. The company demonstrates robust free cash flow growth and a bullish fundamental score, indicating attractive long-term investment potential.
Key Risk
Returns are currently trailing the estimated cost of capital, which could pressure valuation if not improved.
Signals To Watch
  • Monitor whether valuation discount remains above 10%.
  • Track ROIC versus WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in the score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 18.53%5 Year CAGR: 27.37%

Free Cash Flow (in millions)

TTM2025202420232022202120202019201820172016
$1,271$1,114$1,072$584$568$379$188$106$74$39-$40

How Intrinziq Estimates Fair Value

Intrinziq estimates DocuSign, Inc.'s intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

DocuSign, Inc.Technology

DocuSign, Inc. provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management. The company provides Guided Forms, which enable complex forms to be filled via an interactive and step-by-step process; Click that supports no-signature-required agreements for standard terms and consents; Identify, a signer-identification option for checking government-issued IDs; Standards-Based Signatures, which support signatures that involve digital certificates; Payments that enables customers to collect signatures and payment; Remote Online Notary is a solution using audio-visual and identify verification technologies to enable notarization; and Monitor using advanced analytics to track DocuSign eSignature web, mobile, and API account. It offers industry-specific cloud offerings, including Rooms for Real Estate that provides a way for brokers and agents to manage the entire real estate transaction digitally; Rooms for Mortgage, which offers digital workspace to create and close mortgages; 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, partner-assisted, and Web-based sales. It serves enterprise, commercial, and small businesses. The company was incorporated in 2003 and is headquartered in San Francisco, California.