DigitalOcean Holdings, Inc. (DOCN) Financial Ratios
8 years of historical data (2018–2025) · Technology · Software - Infrastructure
EV/EBITDA
↓
63.03
↑+32% vs avg
5yr avg: 47.62
30Y Low18.8·High53.1
P/FCF
↓
106.53
+9% vs avg
5yr avg: 97.66
30Y Low29.9·High34.3
P/B Ratio
↑
N/A
—
5yr avg: 34.43
30Y Low14.9·High54.0
ROE
↓
N/A
—
5yr avg: -8.3%
30Y Low-79%·High-8%
Debt/EBITDA
↓
2.48
↓-80% vs avg
5yr avg: 12.65
30Y Low2.5·High21.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DOCN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
DigitalOcean Holdings, Inc. trades at 68.8x earnings, 14% below its 5-year average of 80.3x, sitting at the 67th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 137%. On a free-cash-flow basis, the stock trades at 106.5x P/FCF, 9% above the 5-year average of 97.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $18.1B | $5.1B | $3.2B | $3.5B | $2.6B | $8.6B | — | — | — |
| Enterprise Value | $18.6B | $5.5B | $4.5B | $4.9B | $4.1B | $8.4B | — | — | — |
| P/E Ratio → | 68.76 | 19.10 | 38.28 | 183.45 | — | — | — | — | — |
| P/S Ratio | 20.06 | 5.62 | 4.12 | 5.11 | 4.46 | 20.10 | — | — | — |
| P/B Ratio | — | — | — | — | 53.97 | 14.89 | — | — | — |
| P/FCF | 106.53 | 29.86 | 33.47 | 32.12 | 34.26 | 358.61 | — | — | — |
| P/OCF | 58.41 | 16.37 | 11.39 | 15.06 | 13.16 | 64.70 | — | — | — |
P/E links to full P/E history page with 30-year chart
DOCN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
DigitalOcean Holdings, Inc.'s enterprise value stands at 63.0x EBITDA, 32% above its 5-year average of 47.6x. The Technology sector median is 16.7x, placing the stock at a 277% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.15 | 5.75 | 7.04 | 7.05 | 19.51 | — | — | — |
| EV / EBITDA | 63.03 | 18.83 | 20.30 | 37.57 | 53.08 | 108.33 | — | — | — |
| EV / EBIT | 118.22 | 24.69 | 42.00 | 136.49 | — | — | — | — | — |
| EV / FCF | — | 32.67 | 46.64 | 44.27 | 54.21 | 348.17 | — | — | — |
DOCN Profitability
Margins and return-on-capital ratios measuring operating efficiency
DigitalOcean Holdings, Inc. earns an operating margin of 17.4%. Operating margins have expanded from 1.7% to 17.4% over the past 3 years, signaling improving operational efficiency. ROIC of 15.6% represents solid 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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.9% | 59.9% | 59.7% | 59.0% | 63.2% | 60.2% | 54.3% | 52.0% | 52.2% |
| Operating Margin | 17.4% | 17.4% | 11.7% | 1.7% | -4.5% | -2.6% | -5.0% | -11.7% | -13.4% |
| Net Profit Margin | 28.8% | 28.8% | 10.8% | 2.8% | -4.8% | -4.6% | -13.7% | -15.9% | -17.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -8.9% | -7.7% | — | -79.2% | — |
| ROA | 14.9% | 14.9% | 5.5% | 1.2% | -1.4% | -1.5% | -11.9% | -14.8% | -14.7% |
| ROIC | 15.6% | 15.6% | 6.5% | 0.7% | -2.1% | -4.0% | -8.0% | -17.4% | -41.7% |
| ROCE | 11.9% | 11.9% | 6.8% | 0.8% | -1.4% | -0.9% | -5.5% | -14.5% | -15.0% |
DOCN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
DigitalOcean Holdings, Inc. carries a Debt/EBITDA ratio of 2.5x, which is manageable (16% below the sector average of 2.9x). Net debt stands at $476M ($731M total debt minus $254M cash). Interest coverage of 12.5x 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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 34.38 | 2.53 | — | 3.75 | — |
| Debt / EBITDA | 2.48 | 2.48 | 7.67 | 12.76 | 21.37 | 18.95 | 4.34 | 5.76 | 5.41 |
| Net Debt / Equity | — | — | — | — | 31.42 | -0.43 | — | 3.10 | — |
| Net Debt / EBITDA | 1.62 | 1.62 | 5.73 | 10.31 | 19.53 | -3.25 | 2.67 | 4.77 | 4.22 |
| Debt / FCF | — | 2.80 | 13.17 | 12.15 | 19.95 | -10.44 | — | — | — |
| Interest Coverage | 12.52 | 12.52 | 11.72 | 3.99 | -1.84 | -3.86 | -2.13 | -3.23 | -4.51 |
DOCN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.69x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 2.61x to 0.69x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.69 | 0.69 | 2.45 | 2.61 | 5.72 | 30.39 | 1.75 | 0.84 | 0.80 |
| Quick Ratio | 0.69 | 0.69 | 2.45 | 2.61 | 5.72 | 30.39 | 1.75 | 0.84 | 0.80 |
| Cash Ratio | 0.41 | 0.41 | 1.94 | 2.14 | 5.22 | 29.42 | 1.18 | 0.45 | 0.47 |
| Asset Turnover | — | 0.49 | 0.48 | 0.47 | 0.32 | 0.20 | 0.74 | 0.84 | 0.83 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 36.81 | 42.60 | 32.76 | 34.09 | 33.74 | 32.21 | 29.72 | 29.48 |
DOCN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
DigitalOcean Holdings, Inc. returns 0.5% to shareholders annually primarily through share buybacks. The earnings yield of 1.5% (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 |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.5% | 5.2% | 2.6% | 0.5% | — | — | — | — | — |
| FCF Yield | 0.9% | 3.3% | 3.0% | 3.1% | 2.9% | 0.3% | — | — | — |
| Buyback Yield | 0.5% | 1.6% | 1.9% | 13.8% | 23.4% | 4.1% | — | — | — |
| Total Shareholder Yield | 0.5% | 1.6% | 1.9% | 13.8% | 23.4% | 4.1% | — | — | — |
| Shares Outstanding | — | $105M | $95M | $96M | $101M | $107M | $105M | $105M | $87M |
Peer Comparison
Compare DOCN 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 |
|---|---|---|---|---|---|---|---|---|---|
 DOCNYou | $18B | 68.8 | 63.0 | 106.5 | 59.9% | 17.4% | — | 15.6% | 2.5 |
 FSLY | $3B | -21.6 | — | 42.6 | 57.1% | -18.9% | -12.8% | -7.8% | — |
 NET | $79B | -772.8 | 930.8 | 244.3 | 74.4% | -9.4% | -8.2% | -4.6% | 42.0 |
 AKAM | $18B | 40.7 | 18.1 | 26.0 | 54.7% | 14.9% | 9.2% | 4.7% | 5.2 |
 BAND | $2B | -119.5 | 52.4 | 0.0 | 35.8% | -1.9% | -3.6% | -1.2% | 16.4 |
 AMZN | $2.6T | 34.1 | 18.5 | 341.6 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 MSFT | $2.8T | 27.8 | 17.8 | 39.4 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 GOOGL | $4.5T | 34.0 | 29.8 | 60.8 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
 IBM | $234B | 22.3 | 18.7 | 20.2 | 59.5% | 15.3% | 35.2% | 9.8% | 4.4 |
 ORCL | $530B | 31.6 | 22.8 | — | 65.2% | 30.8% | 53.4% | 11.0% | 5.4 |
 INTC | $673B | -2274.9 | 60.4 | — | 34.8% | -0.0% | -0.2% | -0.0% | 4.0 |
| 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 · 8 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into DOCN consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
DOCN — Frequently Asked Questions
Quick answers to the most common questions about buying DOCN stock.
What is DigitalOcean Holdings, Inc.'s P/E ratio?
DigitalOcean Holdings, Inc.'s current P/E ratio is 68.8x. The historical average is 80.3x. This places it at the 67th percentile of its historical range.
What is DigitalOcean Holdings, Inc.'s EV/EBITDA?
DigitalOcean Holdings, Inc.'s current EV/EBITDA is 63.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 32.4x.
Is DOCN stock overvalued?
Based on historical data, DigitalOcean Holdings, Inc. is trading at a P/E of 68.8x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are DigitalOcean Holdings, Inc.'s profit margins?
DigitalOcean Holdings, Inc. has 59.9% gross margin and 17.4% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does DigitalOcean Holdings, Inc. have?
DigitalOcean Holdings, Inc.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.