Docusign vs HubSpot
Add, change or remove companies; up to four.
The short version
- Docusign is the larger business, with $3.2B of revenue in fiscal 2026 against $3.1B for HubSpot.
- HubSpot grew revenue faster (19.2%, against 8.2%).
- Docusign kept more of each dollar of sales as operating profit (9.3% operating margin, against 0.2%).
- Docusign turned more of its sales into free cash flow (32.9% FCF margin, against 22.6%).
- Investors pay more for each dollar of HubSpotβs earnings: a P/E of 96.4x against 52.0x for Docusign.
| Latest fiscal year | DOCU Β· FY26 | HUBS Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.5B | $13.7B |
| Revenue | $3.2B | $3.1B |
| Free cash flow | $1.1B | $708M |
| Net income | $309M | $45.9M |
| Growth | ||
| Revenue growth | 8.2% | 19.2% |
| 5-year growth | 17.3% | 28.8% |
| Share count change | β0.6% | 2.7% |
| Profitability | ||
| Gross margin | 79.4% | 83.8% |
| Operating margin | 9.3% | 0.2% |
| Net margin | 9.6% | 1.5% |
| FCF margin | 32.9% | 22.6% |
| Return on capital | 25.4% | β |
| Return on equity | 15.8% | 2.3% |
| Balance sheet | ||
| Net debt | β$867M | β |
| Net debt / EBITDA | β2.1x | β |
| Dividends and buybacks | $869M | $500M |
| Valuation & quality | ||
| P/E | 52.0x | 96.4x |
| Piotroski F-score | 5 | β |
Revenue
FY17
DOCU $382M
HUBS $376M
FY18
DOCU $519M
HUBS $513M
FY19
DOCU $701M
HUBS $675M
FY20
DOCU $974M
HUBS $883M
FY21
DOCU $1.5B
HUBS $1.3B
FY22
DOCU $2.1B
HUBS $1.7B
FY23
DOCU $2.5B
HUBS $2.2B
FY24
DOCU $2.8B
HUBS $2.6B
FY25
DOCU $3.0B
HUBS $3.1B
FY26
DOCU $3.2B
HUBS β
DOCU
HUBS
Operating margin
FY17
DOCU β30.4%
HUBS β10.7%
FY18
DOCU β10.0%
HUBS β9.4%
FY19
DOCU β60.8%
HUBS β7.0%
FY20
DOCU β19.9%
HUBS β5.8%
FY21
DOCU β12.0%
HUBS β4.2%
FY22
DOCU β2.9%
HUBS β5.9%
FY23
DOCU β3.5%
HUBS β9.3%
FY24
DOCU 1.2%
HUBS β2.6%
FY25
DOCU 6.7%
HUBS 0.2%
FY26
DOCU 9.3%
HUBS β
DOCU
HUBS
Free cash flow
FY17
DOCU β$48.1M
HUBS $29.3M
FY18
DOCU $36.1M
HUBS $62.6M
FY19
DOCU $45.7M
HUBS $78.6M
FY20
DOCU $43.7M
HUBS $51.6M
FY21
DOCU $215M
HUBS $210M
FY22
DOCU $445M
HUBS $236M
FY23
DOCU $429M
HUBS $317M
FY24
DOCU $887M
HUBS $561M
FY25
DOCU $920M
HUBS $708M
FY26
DOCU $1.1B
HUBS β
DOCU
HUBS
Return on capital
FY17
DOCU β
HUBS β
FY18
DOCU β
HUBS β
FY19
DOCU β
HUBS β
FY20
DOCU β47.8%
HUBS β
FY21
DOCU β44.2%
HUBS β
FY22
DOCU β
HUBS β
FY23
DOCU β
HUBS β
FY24
DOCU β
HUBS β
FY25
DOCU 35.6%
HUBS β
FY26
DOCU 25.4%
HUBS β
DOCU
HUBS
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.