DigitalOcean vs Verisign
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The short version
- Verisign is the larger business, with $1.7B of revenue in fiscal 2025 against $901M for DigitalOcean, about 1.8 times as much.
- DigitalOcean grew revenue faster (15.5%, against 6.4%).
- Verisign kept more of each dollar of sales as operating profit (67.7% operating margin, against 17.4%).
- Verisign turned more of its sales into free cash flow (64.5% FCF margin, against 20.0%).
- Investors pay more for each dollar of DigitalOcean’s earnings: a P/E of 43.2x against 32.3x for Verisign.
| Latest fiscal year | DOCN · FY25 | VRSN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.8B | $27.1B |
| Revenue | $901M | $1.7B |
| Free cash flow | $181M | $1.1B |
| Net income | $259M | $826M |
| Growth | ||
| Revenue growth | 15.5% | 6.4% |
| 5-year growth | 23.1% | 5.5% |
| Share count change | 11.5% | −4.5% |
| Profitability | ||
| Gross margin | 59.9% | 88.2% |
| Operating margin | 17.4% | 67.7% |
| Net margin | 28.8% | 49.8% |
| FCF margin | 20.0% | 64.5% |
| Return on capital | 15.7% | — |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $1.2B | $1.2B |
| Net debt / EBITDA | 4.0x | 1.1x |
| Dividends and buybacks | $82.1M | $1.1B |
| Valuation & quality | ||
| P/E | 43.2x | 32.3x |
| Piotroski F-score | 7 | 8 |
Revenue
FY16
DOCN —
VRSN $1.1B
FY17
DOCN —
VRSN $1.2B
FY18
DOCN —
VRSN $1.2B
FY19
DOCN $255M
VRSN $1.2B
FY20
DOCN $318M
VRSN $1.3B
FY21
DOCN $429M
VRSN $1.3B
FY22
DOCN $576M
VRSN $1.4B
FY23
DOCN $693M
VRSN $1.5B
FY24
DOCN $781M
VRSN $1.6B
FY25
DOCN $901M
VRSN $1.7B
DOCN
VRSN
Operating margin
FY16
DOCN —
VRSN 60.1%
FY17
DOCN —
VRSN 60.7%
FY18
DOCN —
VRSN 63.2%
FY19
DOCN −11.7%
VRSN 65.5%
FY20
DOCN −5.0%
VRSN 65.2%
FY21
DOCN −2.6%
VRSN 65.3%
FY22
DOCN −4.5%
VRSN 66.2%
FY23
DOCN 1.7%
VRSN 67.0%
FY24
DOCN 11.7%
VRSN 68.0%
FY25
DOCN 17.4%
VRSN 67.7%
DOCN
VRSN
Free cash flow
FY16
DOCN —
VRSN $666M
FY17
DOCN —
VRSN $653M
FY18
DOCN —
VRSN $661M
FY19
DOCN −$13.6M
VRSN $714M
FY20
DOCN −$39.9M
VRSN $687M
FY21
DOCN $36.0M
VRSN $754M
FY22
DOCN $88.8M
VRSN $804M
FY23
DOCN $116M
VRSN $808M
FY24
DOCN $105M
VRSN $875M
FY25
DOCN $181M
VRSN $1.1B
DOCN
VRSN
Return on capital
FY16
DOCN —
VRSN —
FY17
DOCN —
VRSN —
FY18
DOCN —
VRSN —
FY19
DOCN —
VRSN —
FY20
DOCN —
VRSN —
FY21
DOCN −4.3%
VRSN —
FY22
DOCN −4.1%
VRSN —
FY23
DOCN 1.2%
VRSN —
FY24
DOCN 9.7%
VRSN —
FY25
DOCN 15.7%
VRSN —
DOCN
VRSN
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.