>
Switch to:

DocuSign Piotroski F-Score

: 5 (As of Today)
View and export this data going back to 2018. Start your Free Trial

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

DocuSign has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for DocuSign's Piotroski F-Score or its related term are showing as below:

NAS:DOCU' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 5
Current: 5

4
5

During the past 6 years, the highest Piotroski F-Score of DocuSign was 5. The lowest was 4. And the median was 5.


DocuSign Piotroski F-Score Historical Data

The historical data trend for DocuSign's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

DocuSign Annual Data
Trend Jan16 Jan17 Jan18 Jan19 Jan20 Jan21
Piotroski F-Score
Premium Member Only N/A N/A 4.00 5.00 4.00

DocuSign Quarterly Data
Jan16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 4.00 5.00 5.00

Competitive Comparison

For the Software - Application subindustry, DocuSign's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

DocuSign Piotroski F-Score Distribution

For the Software industry and Technology sector, DocuSign's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where DocuSign's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jul21) TTM:Last Year (Jul20) TTM:
Net Income was -58.491 + -72.412 + -8.354 + -25.501 = $-165 Mil.
Cash Flow from Operations was 57.443 + 62.233 + 135.597 + 177.669 = $433 Mil.
Revenue was 382.923 + 430.898 + 469.078 + 511.844 = $1,795 Mil.
Gross Profit was 285.092 + 329.318 + 363.836 + 398.064 = $1,376 Mil.
Average Total Assets from the begining of this year (Jul20)
to the end of this year (Jul21) was
(2053.31 + 2051.119 + 2336.507 + 2297.12 + 2355.687) / 5 = $2218.7486 Mil.
Total Assets at the begining of this year (Jul20) was $2,053 Mil.
Long-Term Debt & Capital Lease Obligation was $876 Mil.
Total Current Assets was $1,183 Mil.
Total Current Liabilities was $1,210 Mil.
Net Income was -46.598 + -47.407 + -47.804 + -64.56 = $-206 Mil.

Revenue was 249.502 + 274.895 + 297.017 + 342.209 = $1,164 Mil.
Gross Profit was 187.538 + 206.82 + 222.985 + 251.594 = $869 Mil.
Average Total Assets from the begining of last year (Jul19)
to the end of last year (Jul20) was
(1761.836 + 1786.365 + 1891.138 + 1921.488 + 2053.31) / 5 = $1882.8274 Mil.
Total Assets at the begining of last year (Jul19) was $1,762 Mil.
Long-Term Debt & Capital Lease Obligation was $657 Mil.
Total Current Assets was $968 Mil.
Total Current Liabilities was $854 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

DocuSign's current Net Income (TTM) was -165. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

DocuSign's current Cash Flow from Operations (TTM) was 433. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jul20)
=-164.758/2053.31
=-0.0802402

ROA (Last Year)=Net Income/Total Assets (Jul19)
=-206.369/1761.836
=-0.11713292

DocuSign's return on assets of this year was -0.0802402. DocuSign's return on assets of last year was -0.11713292. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

DocuSign's current Net Income (TTM) was -165. DocuSign's current Cash Flow from Operations (TTM) was 433. ==> 433 > -165 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jul21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul20 to Jul21
=876.297/2218.7486
=0.39495101

Gearing (Last Year: Jul20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul19 to Jul20
=656.967/1882.8274
=0.34892577

DocuSign's gearing of this year was 0.39495101. DocuSign's gearing of last year was 0.34892577. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jul21)=Total Current Assets/Total Current Liabilities
=1182.789/1209.63
=0.97781057

Current Ratio (Last Year: Jul20)=Total Current Assets/Total Current Liabilities
=968.023/854.038
=1.13346596

DocuSign's current ratio of this year was 0.97781057. DocuSign's current ratio of last year was 1.13346596. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

DocuSign's number of shares in issue this year was 195.996. DocuSign's number of shares in issue last year was 184.862. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1376.31/1794.743
=0.76685631

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=868.937/1163.623
=0.74675131

DocuSign's gross margin of this year was 0.76685631. DocuSign's gross margin of last year was 0.74675131. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jul20)
=1794.743/2053.31
=0.87407308

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul19)
=1163.623/1761.836
=0.66046045

DocuSign's asset turnover of this year was 0.87407308. DocuSign's asset turnover of last year was 0.66046045. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+0+0+0+1+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

DocuSign has an F-score of 5 indicating the company's financial situation is typical for a stable company.

DocuSign  (NAS:DOCU) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


DocuSign Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of DocuSign's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


DocuSign Business Description

DocuSign logo
Industry
Technology » Software NAICS : 511210 SIC : 7379
Traded in Other Exchanges
Address
221 Main Street, Suite 1550, San Francisco, CA, USA, 94105
DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its IPO in May 2018.
Executives
Gaylor Cynthia officer: Chief Financial Officer C/O PIVOTAL SOFTWARE, INC. 875 HOWARD STREET, FIFTH FLOOR SAN FRANCISCO CA 94103
Olrich Scott V. officer: Chief Operating Officer C/O DOCUSIGN, INC. 221 MAIN ST., SUITE 1000 SAN FRANCISCO CA 94105
Salem Enrique T director SYMANTEC CORPORATION 20330 STEVENS CREEK BLVD. CUPERTINO CA 95014
Solvik Peter director 2105 SOUTH BASCOM AVE. #370 CAMPBELL CA 95008
Alhadeff Loren officer: Chief Revenue Officer C/O DOCUSIGN, INC. SUITE 1000 SAN FRANCISCO CA 94105
Wilderotter Mary Agnes director 115 ALPINE TERRACE OAKLAND CA 94618
Springer Daniel D. director, officer: President and CEO C/O DOCUSIGN, INC. 221 MAIN ST., SUITE 1000 SAN FRANCISCO CA 94105
Phi Tram T officer: SVP, General Counsel C/O IMPERVA, INC. 3400 BRIDGE PARKWAY REDWOOD SHORES CA 94065
Suh Inhi Cho director C/O DOCUSIGN, INC. 221 MAIN STREET, SUITE 1000 SAN FRANCISCO CA 94105
Singh Sudhir Steven director 6222 185TH AVE REDMOND WA 98052
Irving Blake director 14455 N. HAYDEN RD. SCOTTSDALE AZ 85260
Briggs Teresa director 2225 LAWSON LANE SANTA CLARA CA 95054
Beer James A director MCKESSON CORPORATION ONE POST STREET SAN FRANCISCO CA 94104
Wolberg Kirsten O. officer: Chief Technology & Ops Officer 900 NORTH MCCARTHY BLVD MILPITAS CA 95035
Sheridan Michael J officer: Chief Financial Officer C/O DOCUSIGN, INC. 221 MAIN ST., SUITE 1000 SAN FRANCISCO CA 94105

DocuSign Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)