Certara vs Doximity
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The short version
- Doximity is the larger business, with $645M of revenue in fiscal 2026 against $419M for Certara, about 1.5 times as much.
- Doximity grew revenue faster (13.1%, against 8.8%).
- Doximity kept more of each dollar of sales as operating profit (33.3% operating margin, against 5.0%).
- Doximity turned more of its sales into free cash flow (50.6% FCF margin, against 22.6%).
- Doximity earned a higher return on the capital invested in it (91.3%, against 0.9%).
| Latest fiscal year | CERT · FY25 | DOCS · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.6B | $6.4B |
| Revenue | $419M | $645M |
| Free cash flow | $94.6M | $326M |
| Net income | −$1.6M | $196M |
| Growth | ||
| Revenue growth | 8.8% | 13.1% |
| 5-year growth | 11.5% | 25.5% |
| Share count change | 0.0% | −1.1% |
| Profitability | ||
| Gross margin | — | 89.1% |
| Operating margin | 5.0% | 33.3% |
| Net margin | −0.4% | 30.4% |
| FCF margin | 22.6% | 50.6% |
| Return on capital | 0.9% | 91.3% |
| Return on equity | −0.2% | 19.3% |
| Balance sheet | ||
| Net debt | $104M | −$749M |
| Net debt / EBITDA | 1.1x | −3.3x |
| Dividends and buybacks | $42.6M | $432M |
| Valuation & quality | ||
| P/E | — | 39.3x |
| Piotroski F-score | 5 | 4 |
Revenue
FY19
CERT $209M
DOCS —
FY20
CERT $244M
DOCS $116M
FY21
CERT $286M
DOCS $207M
FY22
CERT $336M
DOCS $344M
FY23
CERT $354M
DOCS $419M
FY24
CERT $385M
DOCS $475M
FY25
CERT $419M
DOCS $570M
FY26
CERT —
DOCS $645M
CERT
DOCS
Operating margin
FY19
CERT 9.4%
DOCS —
FY20
CERT −10.0%
DOCS 19.0%
FY21
CERT 4.8%
DOCS 25.8%
FY22
CERT 9.7%
DOCS 33.1%
FY23
CERT −11.5%
DOCS 29.9%
FY24
CERT −0.5%
DOCS 34.5%
FY25
CERT 5.0%
DOCS 39.9%
FY26
CERT —
DOCS 33.3%
CERT
DOCS
Free cash flow
FY19
CERT $35.9M
DOCS —
FY20
CERT $44.0M
DOCS $25.9M
FY21
CERT $59.2M
DOCS $82.7M
FY22
CERT $91.1M
DOCS $125M
FY23
CERT $81.0M
DOCS $178M
FY24
CERT $78.8M
DOCS $184M
FY25
CERT $94.6M
DOCS $273M
FY26
CERT —
DOCS $326M
CERT
DOCS
Return on capital
FY19
CERT —
DOCS —
FY20
CERT —
DOCS —
FY21
CERT 1.1%
DOCS —
FY22
CERT 2.2%
DOCS —
FY23
CERT −2.9%
DOCS 64.8%
FY24
CERT −0.1%
DOCS 88.4%
FY25
CERT 0.9%
DOCS 126.3%
FY26
CERT —
DOCS 91.3%
CERT
DOCS
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.