Docusign
DOCU · Application Software
$85.27
1.0%Trimble
TRMB · Application Software
$63.49
0.8%The short version
- Trimble is the larger business, with $3.6B of revenue in fiscal 2025 against $3.2B for Docusign.
- Docusign grew revenue faster (8.2%, against −2.6%).
- Trimble kept more of each dollar of sales as operating profit (16.5% operating margin, against 9.3% operating margin).
- Docusign turned more of its sales into free cash flow (32.9% FCF margin, against 10.1% FCF margin).
- Docusign earned a higher return on the capital invested in it (25.4%, against 7.4%).
| Latest fiscal year | DOCU · FY26 | TRMB · FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.5B | $14.8B |
| Revenue | $3.2B | $3.6B |
| Free cash flow | $1.1B | $361M |
| Net income | $309M | $424M |
| Growth | ||
| Revenue growth | 8.2% | −2.6% |
| 5-year growth | 17.3% | 2.6% |
| Share count change | −0.6% | −2.3% |
| Profitability | ||
| Gross margin | 79.4% | 69.1% |
| Operating margin | 9.3% | 16.5% |
| Net margin | 9.6% | 11.8% |
| FCF margin | 32.9% | 10.1% |
| Return on capital | 25.4% | 7.4% |
| Return on equity | 15.8% | 7.3% |
| Balance sheet | ||
| Net debt | −$867M | $1.1B |
| Net debt / EBITDA | −2.1x | 1.4x |
| Dividends and buybacks | $869M | $863M |
| Valuation & quality | ||
| P/E | 52.0x | — |
| Piotroski F-score | 5 | 4 |
FY17
DOCU $382M
TRMB $2.7B
FY18
DOCU $519M
TRMB $3.1B
FY19
DOCU $701M
TRMB $3.3B
FY20
DOCU $974M
TRMB $3.2B
FY21
DOCU $1.5B
TRMB $3.7B
FY22
DOCU $2.1B
TRMB $3.7B
FY23
DOCU $2.5B
TRMB $3.8B
FY24
DOCU $2.8B
TRMB $3.7B
FY25
DOCU $3.0B
TRMB $3.6B
FY26
DOCU $3.2B
TRMB —
DOCU
TRMB
FY17
DOCU −30.4%
TRMB 8.9%
FY18
DOCU −10.0%
TRMB 10.2%
FY19
DOCU −60.8%
TRMB 11.5%
FY20
DOCU −19.9%
TRMB 13.3%
FY21
DOCU −12.0%
TRMB 15.3%
FY22
DOCU −2.9%
TRMB 13.9%
FY23
DOCU −3.5%
TRMB 11.8%
FY24
DOCU 1.2%
TRMB 12.5%
FY25
DOCU 6.7%
TRMB 16.5%
FY26
DOCU 9.3%
TRMB —
DOCU
TRMB
FY17
DOCU −$48.1M
TRMB $386M
FY18
DOCU $36.1M
TRMB $419M
FY19
DOCU $45.7M
TRMB $516M
FY20
DOCU $43.7M
TRMB $615M
FY21
DOCU $215M
TRMB $704M
FY22
DOCU $445M
TRMB $348M
FY23
DOCU $429M
TRMB $555M
FY24
DOCU $887M
TRMB $498M
FY25
DOCU $920M
TRMB $361M
FY26
DOCU $1.1B
TRMB —
DOCU
TRMB
FY17
DOCU —
TRMB 4.3%
FY18
DOCU —
TRMB 8.8%
FY19
DOCU —
TRMB 8.1%
FY20
DOCU −47.8%
TRMB 8.6%
FY21
DOCU −44.2%
TRMB 9.8%
FY22
DOCU —
TRMB 7.9%
FY23
DOCU —
TRMB 5.9%
FY24
DOCU —
TRMB 4.8%
FY25
DOCU 35.6%
TRMB 7.4%
FY26
DOCU 25.4%
TRMB —
DOCU
TRMB
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.