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Held by 671 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $70.64 today, the market must believe free cash flow compounds 2.8%/yr for a decade (off $955M normalized FCF).
The market's 2.8% is more conservative than its 8-yr track record.
2-stage DCF · 0.20B shares · net debt -$602M
mean 80.4% · volatility σ 134% · implied rate exceeded in 6/8 yrs
Central path = implied 2.8%/yr growth; shaded band = ±1σ (134%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2026
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.22B 100.0% | $2.98B 100.0% | $2.76B 100.0% | $2.52B 100.0% | $2.11B 100.0% | $1.45B 100.0% | $974.0M 100.0% | $701.0M 100.0% | $518.5M 100.0% | $381.5M 100.0% |
| Cost of Revenue | $663.1M 20.6% | $621.7M 20.9% | $572.6M 20.7% | $536.1M 21.3% | $466.5M 22.1% | $364.1M 25.1% | $243.2M 25.0% | $192.4M 27.5% | $118.3M 22.8% | $102.5M 26.9% |
| Gross Profit | $2.56B 79.4% | $2.36B 79.1% | $2.19B 79.3% | $1.98B 78.7% | $1.64B 77.9% | $1.09B 74.9% | $730.7M 75.0% | $508.5M 72.5% | $400.2M 77.2% | $279.0M 73.1% |
| Research & Development | $665.0M 20.7% | $588.5M 19.8% | $539.5M 19.5% | $480.6M 19.1% | $393.4M 18.7% | $271.5M 18.7% | $185.6M 19.1% | $186.0M 26.5% | $92.4M 17.8% | $89.7M 23.5% |
| Selling, General & Admin | $389.0M 12.1% | $376.0M 12.6% | $419.6M 15.2% | $316.2M 12.6% | $232.8M 11.0% | $192.7M 13.3% | $147.3M 15.1% | $209.3M 29.9% | $81.5M 15.7% | $64.4M 16.9% |
| Total Operating Expenses | $2.26B 70.1% | $2.16B 72.4% | $2.16B 78.1% | $2.07B 82.2% | $1.70B 80.8% | $1.26B 86.9% | $924.2M 94.9% | $934.9M 133.4% | $451.9M 87.2% | $394.8M 103.5% |
| Operating Income | $298.6M 9.3% | $199.9M 6.7% | $31.6M 1.1% | -$88.0M -3.5% | -$61.9M -2.9% | -$173.9M -12.0% | -$193.5M -19.9% | -$426.3M -60.8% | -$51.7M -10.0% | -$115.8M -30.4% |
| Interest Expense | $2.5M 0.1% | $1.6M 0.1% | $6.8M 0.2% | $6.4M 0.3% | $6.4M 0.3% | $30.8M 2.1% | $29.3M 3.0% | $10.8M 1.5% | $624K 0.1% | $611K 0.2% |
| Other Income (Expense), net | $51.3M 1.6% | $49.6M 1.7% | $68.9M 2.5% | $4.5M 0.2% | $1.4M 0.1% | $8.9M 0.6% | $19.2M 2.0% | $9.0M 1.3% | $3.1M 0.6% | $1.4M 0.4% |
| Pretax Income | $347.3M 10.8% | $247.9M 8.3% | $93.7M 3.4% | -$89.9M -3.6% | -$66.9M -3.2% | -$229.5M -15.8% | -$203.6M -20.9% | -$428.2M -61.1% | -$49.1M -9.5% | -$115.1M -30.2% |
| Income Tax Expense | $38.2M 1.2% | -$819.9M -27.5% | $19.7M 0.7% | $7.6M 0.3% | $3.1M 0.1% | $13.8M 0.9% | $4.8M 0.5% | -$1.8M -0.2% | $3.1M 0.6% | $356K 0.1% |
| Net Income | $309.1M 9.6% | $1.07B 35.9% | $74.0M 2.7% | -$97.5M -3.9% | -$70.0M -3.3% | -$243.3M -16.7% | -$208.4M -21.4% | -$426.5M -60.8% | -$52.3M -10.1% | -$115.4M -30.3% |
| Per Share | ||||||||||
| EPS (Basic) | $1.53 | $5.23 | $0.36 | $-0.49 | $-0.36 | $-1.31 | $-1.18 | — | — | — |
| EPS (Diluted) | $1.48 | $5.08 | $0.36 | $-0.49 | $-0.36 | $-1.31 | $-1.18 | — | — | — |
| Weighted Avg Shares (Basic) | 202.1M | 204.3M | 204.1M | 200.9M | 196.7M | 185.8M | 176.7M | — | — | — |
| Weighted Avg Shares (Diluted) | 209.1M | 210.3M | 208.9M | 200.9M | 196.7M | 185.8M | 176.7M | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $869M buybacks = $869M returned on $1.1B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 6.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 27.5 | 25.0 | 25.1 | 22.1 | 21.3 | 20.7 | 20.9 | 20.6 |
| Gross Profit | 72.5 | 75.0 | 74.9 | 77.9 | 78.7 | 79.3 | 79.1 | 79.4 |
| R&D | 26.5 | 19.1 | 18.7 | 18.7 | 19.1 | 19.5 | 19.8 | 20.7 |
| SG&A | 29.9 | 15.1 | 13.3 | 11.0 | 12.6 | 15.2 | 12.6 | 12.1 |
| Operating Income | -60.8 | -19.9 | -12.0 | -2.9 | -3.5 | 1.1 | 6.7 | 9.3 |
| Income Tax | -0.2 | 0.5 | 0.9 | 0.1 | 0.3 | 0.7 | -27.5 | 1.2 |
| Net Income | -60.8 | -21.4 | -16.7 | -3.3 | -3.9 | 2.7 | 35.9 | 9.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DOCU: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $10.83T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.20T | 43.6× | 39.0× | 24.1× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.91T | 44.6× | 34.3× | 11.8× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.64T | 27.3× | 19.3× | 11.0× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.61T | 71.2× | 63.6× | 25.2× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.04T | 122.1× | 57.5× | 27.8× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $835.4B | 193.4× | 197.6× | 24.1× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $504.6B | — | 62.9× | 9.6× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $426.7B | 42.3× | 35.8× | 7.5× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $416.9B | 276.7× | 288.5× | 93.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $367.3B | 64.9× | 34.6× | 3.2× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.6B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $329.4B | 48.0× | 37.9× | 11.6× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $325.1B | — | — | 1051.3× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $283.0B | — | — | — | — | — | — | — | — | — | 302 |
| SAP | $261.9B | — | — | — | — | — | — | — | — | — | 794 |
| ARM | $259.6B | 287.0× | 223.6× | 52.8× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| PANW | $250.9B | 234.8× | 156.8× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| ANET | $248.2B | 71.8× | 62.7× | 27.6× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| TXN | $236.9B | 47.8× | 31.2× | 13.4× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $232.8B | 32.1× | 25.2× | 5.6× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.5B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| SNDK | $221.9B | — | — | 30.2× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| QCOM | $198.5B | 36.9× | 14.9× | 4.5× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| MRVL | $194.6B | 74.8× | 127.2× | 23.8× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| DOCU | $13.9B | 47.6× | 32.1× | 4.3× | 8.2% | 79.4% | 9.6% | 16.1% | 16.1% | — | 671 |
Peers = companies sharing DOCU's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.