Doximity, Inc. (DOCS) Financial Ratios
8 years of historical data (2019–2026) · Healthcare · Medical - Healthcare Information Services
EV/EBITDA
↓
16.47
↓-65% vs avg
5yr avg: 46.61
30Y Low20.6·High83.0
P/FCF
↓
N/A
—
5yr avg: 49.25
30Y Low31.1·High82.3
P/B Ratio
↓
4.20
↓-48% vs avg
5yr avg: 8.06
30Y Low4.9·High11.3
ROE
↓
19.3%
-6% vs avg
5yr avg: 20.5%
30Y Low12%·High148%
Debt/EBITDA
↑
0.05
↓-23% vs avg
5yr avg: 0.06
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DOCS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Doximity, Inc. trades at 20.4x earnings, 59% below its 5-year average of 49.8x, sitting at the 0th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.9x, the stock trades at a discount of 11%.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $4.6B | $11.7B | $5.5B | $6.9B | $10.0B | — | — | — |
| Enterprise Value | $3.5B | $4.4B | $11.5B | $5.5B | $6.8B | $9.8B | — | — | — |
| P/E Ratio → | 20.45 | 23.78 | 52.28 | 37.38 | 61.09 | 74.41 | — | — | — |
| P/S Ratio | 5.81 | 7.19 | 20.47 | 11.65 | 16.49 | 28.96 | — | — | — |
| P/B Ratio | 4.20 | 4.88 | 10.78 | 6.14 | 7.15 | 11.32 | — | — | — |
| P/FCF | — | — | 43.77 | 31.05 | 39.85 | 82.32 | — | — | — |
| P/OCF | 11.48 | 14.21 | 42.73 | 30.07 | 38.48 | 78.61 | — | — | — |
P/E links to full P/E history page with 30-year chart
DOCS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Doximity, Inc.'s enterprise value stands at 16.5x EBITDA, 65% below its 5-year average of 46.6x. The Healthcare sector median is 14.4x, placing the stock at a 14% premium on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.87 | 20.12 | 11.47 | 16.15 | 28.64 | — | — | — |
| EV / EBITDA | 16.47 | 20.61 | 48.14 | 31.32 | 49.99 | 82.97 | — | — | — |
| EV / EBIT | 16.47 | 20.61 | 49.89 | 31.74 | 54.10 | 86.65 | — | — | — |
| EV / FCF | — | — | 43.03 | 30.59 | 39.03 | 81.39 | — | — | — |
DOCS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Doximity, Inc. earns an operating margin of 33.3%. Operating margins have compressed from 34.5% to 33.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 19.3% indicates solid capital efficiency. ROIC of 19.8% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.1% | 89.1% | 90.2% | 89.3% | 87.2% | 88.4% | 84.9% | 87.2% | 87.3% |
| Operating Margin | 33.3% | 33.3% | 39.9% | 34.5% | 29.9% | 33.0% | 25.8% | 19.0% | 8.1% |
| Net Profit Margin | 30.4% | 30.4% | 39.1% | 31.0% | 26.9% | 45.1% | 24.3% | 25.5% | 9.1% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.3% | 19.3% | 22.5% | 15.8% | 12.2% | 32.7% | 147.9% | 119.8% | 16.2% |
| ROA | 16.4% | 16.4% | 19.0% | 13.3% | 10.6% | 24.9% | 25.7% | 26.4% | 9.0% |
| ROIC | 19.8% | 19.8% | 20.0% | 15.0% | 11.8% | 22.2% | 2492.3% | — | 34.9% |
| ROCE | 20.7% | 20.7% | 22.3% | 17.0% | 13.3% | 22.1% | 45.8% | 33.6% | 14.2% |
DOCS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Doximity, Inc. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 3.2x). The company holds a net cash position — cash of $219M exceeds total debt of $10M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.00 | 0.02 | 2.01 | — |
| Debt / EBITDA | 0.05 | 0.05 | 0.05 | 0.08 | 0.12 | 0.01 | 0.02 | 0.10 | — |
| Net Debt / Equity | — | -0.22 | -0.18 | -0.09 | -0.15 | -0.13 | -0.98 | -40.62 | -0.69 |
| Net Debt / EBITDA | -0.97 | -0.97 | -0.83 | -0.47 | -1.05 | -0.94 | -1.14 | -2.00 | -4.50 |
| Debt / FCF | — | — | -0.74 | -0.46 | -0.82 | -0.92 | -0.83 | -2.10 | -2.38 |
| Interest Coverage | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($219M) exceeds total debt ($10M)
DOCS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Doximity, Inc.'s current ratio of 6.09x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 6.20x to 6.09x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.09 | 6.09 | 6.97 | 6.20 | 6.99 | 8.12 | 2.05 | 2.21 | 2.20 |
| Quick Ratio | 6.09 | 6.09 | 6.97 | 6.20 | 6.99 | 8.12 | 2.05 | 2.21 | 2.20 |
| Cash Ratio | 4.83 | 4.83 | 5.86 | 5.18 | 6.03 | 7.17 | 1.40 | 1.55 | 1.65 |
| Asset Turnover | — | 0.57 | 0.45 | 0.44 | 0.37 | 0.35 | 0.82 | 0.84 | 0.99 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 81.95 | 82.13 | 77.80 | 93.24 | 86.14 | 88.77 | 82.05 | 65.11 |
DOCS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Doximity, Inc. returns 11.5% to shareholders annually primarily through share buybacks. The earnings yield of 4.9% (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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.9% | 4.2% | 1.9% | 2.7% | 1.6% | 1.3% | — | — | — |
| FCF Yield | — | — | 2.3% | 3.2% | 2.5% | 1.2% | — | — | — |
| Buyback Yield | 11.5% | 9.3% | 1.0% | 5.1% | 1.2% | 0.0% | — | — | — |
| Total Shareholder Yield | 11.5% | 9.3% | 1.0% | 5.1% | 1.2% | 0.0% | — | — | — |
| Shares Outstanding | — | $199M | $201M | $206M | $213M | $191M | $178M | $182M | $182M |
Peer Comparison
Compare DOCS 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 |
|---|---|---|---|---|---|---|---|---|---|
 DOCSYou | $4B | 20.4 | 16.5 | — | 89.1% | 33.3% | 19.3% | 19.8% | 0.0 |
 HIMS | $6B | 52.6 | 43.2 | 79.6 | 73.8% | 4.5% | 25.2% | 8.6% | 7.9 |
 WELL | $150B | 154.1 | 66.7 | 52.7 | 39.2% | 3.3% | 2.5% | 0.5% | 8.6 |
 NVCR | $2B | -14.6 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 VEEV | $26B | 29.3 | 20.6 | 18.7 | 75.5% | 28.7% | 13.9% | 12.9% | 0.1 |
 INVA | $2B | 6.9 | 6.8 | 8.6 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 PGNY | $2B | 41.0 | 22.1 | 10.9 | 23.6% | 6.6% | 12.5% | 18.1% | 0.3 |
 TDOC | $1B | -6.4 | 15.8 | 4.6 | 69.5% | -10.4% | -13.9% | -11.5% | 10.4 |
 AMWL | $152M | -1.5 | — | — | 53.3% | -42.2% | -33.9% | -95.1% | — |
 HCAT | $137M | -0.7 | 17.9 | — | 33.5% | -11.6% | -58.3% | -6.1% | 11.9 |
 PINC | $2B | 128.5 | 21.3 | 7.3 | 73.4% | 0.1% | 1.2% | 0.0% | 2.4 |
| Healthcare Median | — | 22.9 | 14.4 | 18.9 | 63.9% | -4.3% | -32.6% | -11.4% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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Run the NumbersIs DOCS Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationDOCS vs HIMS — which is the better buy?
Side-by-side revenue, margins, P/E and 10-year returns vs Hims & Hers Health, Inc..
Compare NowDOCS — Frequently Asked Questions
Quick answers to the most common questions about buying DOCS stock.
What is Doximity, Inc.'s P/E ratio?
Doximity, Inc.'s current P/E ratio is 20.4x. The historical average is 49.8x.
What is Doximity, Inc.'s EV/EBITDA?
Doximity, Inc.'s current EV/EBITDA is 16.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 46.6x.
What is Doximity, Inc.'s ROE?
Doximity, Inc.'s return on equity (ROE) is 19.3%. The historical average is 48.3%.
Is DOCS stock overvalued?
Based on historical data, Doximity, Inc. is trading at a P/E of 20.4x. Compare with industry peers and growth rates for a complete picture.
What are Doximity, Inc.'s profit margins?
Doximity, Inc. has 89.1% gross margin and 33.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Doximity, Inc. have?
Doximity, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.