Docebo Inc. (DCBO) Financial Ratios
9 years of historical data (2017–2025) · Technology · Software - Application
EV/EBITDA
↓
15.16
↓-79% vs avg
5yr avg: 71.17
30Y Low20.7·High52.4
P/FCF
↓
17.05
↓-94% vs avg
5yr avg: 278.21
30Y Low22.4·High106.3
P/B Ratio
↓
6.85
↓-58% vs avg
5yr avg: 16.48
30Y Low5.9·High32.1
ROE
↑
58.0%
↓+173% vs avg
5yr avg: 21.3%
30Y Low-163%·High58%
Debt/EBITDA
↓
0.16
↓-31% vs avg
5yr avg: 0.23
30Y Low0.1·High0.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DCBO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Docebo Inc. trades at 13.3x earnings, 93% below its 5-year average of 202.2x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 54%. On a free-cash-flow basis, the stock trades at 17.1x P/FCF, 94% below the 5-year average of 278.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $496M | $652M | $1.4B | $1.6B | $1.1B | $2.2B | $1.9B | — | — | — |
| Enterprise Value | $427M | $583M | $1.3B | $1.6B | $915M | $2.0B | $1.7B | — | — | — |
| P/E Ratio → | 13.27 | 17.08 | 52.06 | 573.90 | 165.70 | — | — | — | — | — |
| P/S Ratio | 2.01 | 2.64 | 6.39 | 9.01 | 7.89 | 21.24 | 29.93 | — | — | — |
| P/B Ratio | 6.85 | 8.82 | 23.98 | 32.12 | 5.87 | 11.61 | 9.40 | — | — | — |
| P/FCF | 17.05 | 22.41 | 49.47 | 106.29 | 934.67 | — | 507.64 | — | — | — |
| P/OCF | 16.48 | 21.66 | 47.36 | 102.07 | 493.07 | — | 393.10 | — | — | — |
P/E links to full P/E history page with 30-year chart
DCBO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Docebo Inc.'s enterprise value stands at 15.2x EBITDA, 79% below its 5-year average of 71.2x. The Technology sector median is 16.7x, placing the stock at a 9% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.36 | 5.97 | 8.62 | 6.40 | 19.21 | 26.50 | — | — | — |
| EV / EBITDA | 15.16 | 20.70 | 52.45 | — | 140.37 | — | — | — | — | — |
| EV / EBIT | 17.13 | 22.83 | 54.16 | 303.29 | 112.15 | — | — | — | — | — |
| EV / FCF | — | 20.02 | 46.22 | 101.74 | 758.01 | — | 449.47 | — | — | — |
DCBO Profitability
Margins and return-on-capital ratios measuring operating efficiency
Docebo Inc. earns an operating margin of 10.1%. Operating margins have expanded from -2.1% to 10.1% over the past 3 years, signaling improving operational efficiency. Return on equity of 58.0% is exceptionally high. ROIC of 411.0% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.0% | 79.0% | 81.0% | 80.9% | 80.3% | 80.1% | 81.7% | 79.8% | 79.1% | 74.6% |
| Operating Margin | 10.1% | 10.1% | 9.8% | -2.1% | 2.9% | -12.9% | -12.1% | -23.7% | -33.1% | -40.2% |
| Net Profit Margin | 15.5% | 15.5% | 12.3% | 1.6% | 4.9% | -13.0% | -12.7% | -28.7% | -41.6% | -42.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 58.0% | 58.0% | 49.3% | 2.3% | 3.7% | -7.0% | -6.9% | -163.1% | — | — |
| ROA | 19.2% | 19.2% | 15.3% | 1.3% | 2.5% | -5.2% | -5.0% | -30.9% | -98.9% | -77.0% |
| ROIC | 411.0% | 411.0% | — | — | — | — | — | — | — | — |
| ROCE | 34.4% | 34.4% | 35.5% | -2.9% | 2.1% | -6.6% | -6.2% | -82.7% | — | — |
DCBO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Docebo Inc. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (95% below the sector average of 2.9x). The company holds a net cash position — cash of $74M exceeds total debt of $4M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 39.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.03 | 0.04 | 0.02 | 0.02 | 0.02 | 0.11 | — | — |
| Debt / EBITDA | 0.16 | 0.16 | 0.06 | — | 0.47 | — | — | — | — | — |
| Net Debt / Equity | — | -0.94 | -1.58 | -1.38 | -1.11 | -1.11 | -1.08 | -1.36 | — | — |
| Net Debt / EBITDA | -2.47 | -2.47 | -3.69 | — | -32.71 | — | — | — | — | — |
| Debt / FCF | — | -2.39 | -3.25 | -4.56 | -176.66 | — | -58.18 | — | — | — |
| Interest Coverage | 39.44 | 39.44 | 107.28 | 17.29 | 29.29 | -30.42 | -15.40 | -12.96 | — | -46.68 |
Net cash position: cash ($74M) exceeds total debt ($4M)
DCBO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.15x means Docebo Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.26x to 1.15x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.15 | 1.15 | 1.20 | 1.26 | 3.12 | 3.63 | 5.21 | 2.07 | 0.47 | 0.73 |
| Quick Ratio | 1.15 | 1.15 | 1.20 | 1.26 | 3.12 | 3.63 | 5.21 | 2.07 | 0.47 | 0.73 |
| Cash Ratio | 0.60 | 0.60 | 0.72 | 0.72 | 2.57 | 3.11 | 4.80 | 1.62 | 0.15 | 0.29 |
| Asset Turnover | — | 1.20 | 1.14 | 1.14 | 0.50 | 0.39 | 0.25 | 0.65 | 2.04 | 1.80 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 82.76 | 76.73 | 86.26 | 96.96 | 97.28 | 91.60 | 89.83 | 82.75 | 93.95 |
DCBO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Docebo Inc. returns 9.6% to shareholders annually primarily through share buybacks. The earnings yield of 7.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.5% | 5.9% | 1.9% | 0.2% | 0.6% | — | — | — | — | — |
| FCF Yield | 5.9% | 4.5% | 2.0% | 0.9% | 0.1% | — | 0.2% | — | — | — |
| Buyback Yield | 9.6% | 7.3% | 0.8% | 9.8% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 9.6% | 7.3% | 0.8% | 9.8% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $29M | $31M | $34M | $34M | $33M | $29M | $24M | $30M | $30M |
Peer Comparison
Compare DCBO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DCBOYou | $496M | 13.3 | 15.2 | 17.1 | 79.0% | 10.1% | 58.0% | 411.0% | 0.2 |
 SKIL | $67M | -0.5 | 6.1 | 2.9 | 73.7% | -7.6% | -439.6% | -5.7% | 6.5 |
 SAP | $181B | 22.6 | 14.1 | 19.9 | 73.8% | 26.7% | 15.5% | 16.0% | 0.7 |
 WDAY | $31B | 45.3 | 24.0 | 11.0 | 75.7% | 10.7% | 8.2% | 7.3% | 2.8 |
 CRM | $124B | 19.5 | 10.7 | 8.6 | 77.7% | 21.5% | 12.4% | 10.1% | 1.4 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 GOOG | $4.4T | 34.0 | 29.8 | 60.7 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
 AMZN | $2.6T | 34.1 | 18.5 | 341.6 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 UDMY | $677M | 180.2 | 20.0 | 8.4 | 65.6% | -0.3% | 1.9% | -56.7% | 0.4 |
 COUR | $906M | -17.3 | — | 8.4 | 54.6% | -10.3% | -8.3% | — | — |
 DUOL | $6B | 14.7 | 32.7 | 15.8 | 72.2% | 13.1% | 38.1% | 40.8% | 0.6 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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DCBO — Frequently Asked Questions
Quick answers to the most common questions about buying DCBO stock.
What is Docebo Inc.'s P/E ratio?
Docebo Inc.'s current P/E ratio is 13.3x. The historical average is 78.3x.
What is Docebo Inc.'s EV/EBITDA?
Docebo Inc.'s current EV/EBITDA is 15.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 36.6x.
What is Docebo Inc.'s ROE?
Docebo Inc.'s return on equity (ROE) is 58.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -9.1%.
Is DCBO stock overvalued?
Based on historical data, Docebo Inc. is trading at a P/E of 13.3x. Compare with industry peers and growth rates for a complete picture.
What are Docebo Inc.'s profit margins?
Docebo Inc. has 79.0% gross margin and 10.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Docebo Inc. have?
Docebo Inc.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.