Docebo Inc. (DCBO)
Valuation Overview•Is Docebo Inc. Overvalued or Undervalued?
Commands a premium valuation multiple over its peers, likely pricing in superior execution.
High-quality fundamentals with a strong composite quality score of 80/100, backed by robust profitability and solvency.
Analysts remain bullish, forecasting further upside expansion with consensus targets suggesting solid gains.
Verdict: High-quality compounder, with growth as the only relative weakness.
Wall Street is highly bullish, projecting significant upside alongside robust expected earnings growth. This outlook is strongly supported by highly attractive capital returns, driven predominantly by aggressive share repurchases.
Returns capital exclusively via buybacks — no active dividend
DCBO exhibits elite business quality, driven by exceptional capital efficiency and highly lucrative margins (highlighted by a massive 411.0% ROIC). This is backed by a fortress balance sheet, holding significant net cash ($69M) and minimal debt risk.
The company is driving exceptional top-line expansion (20.0% 3Y CAGR) paired with highly explosive earnings growth (86.6% EPS 3Y CAGR). Operating efficiency remains adequate with margins around 8.7%.
| Financial Metric | Trend (12Q) | Latest Qtr | 1Y Growth | 3Y CAGR | 5Y CAGR | 10Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $64.7M | +13.8% | +20.0% | +31.5% | — | |
| EBITDA | $1.9M | — | +62.8% | — | — | |
| Net Income | -$1.6M | +42.8% | +75.9% | — | — | |
| EPS (Diluted) | $-0.06 | +51.2% | +86.6% | — | — | |
| Free Cash Flow | $24.0M | +3.9% | +188.9% | +51.0% | — |
| Metric | TTM | 3Y Avg | 5Y Avg | 10Y Avg |
|---|---|---|---|---|
| Gross Margin | 78.4% | 80.3% | 80.2% | 79.6% |
| Operating Margin | 8.7% | 6.0% | 1.6% | -11.2% |
| Net Margin | 13.9% | 9.8% | 4.2% | -11.6% |
| FCF Margin | 17.4% | 11.1% | 6.0% | -1.1% |
| Quarter | EPS Est. | EPS Act. | Surprise | EPS | Rev |
|---|---|---|---|---|---|
| Q2'26Latest | $0.33 | $0.34 | +3.0% | ||
| Q1'26 | $0.35 | $0.45 | +29.9% | ||
| Q4'25 | $0.33 | $0.34 | +3.0% | ||
| Q3'25 | $0.20 | $0.29 | +45.0% | ||
| Q2'25 | $0.21 | $0.27 | +28.6% | ||
| Q1'25 | $0.33 | $0.28 | -15.2% | ||
| Q4'24 | $0.25 | $0.27 | +8.0% | ||
| Q3'24 | $0.24 | $0.26 | +8.3% |
Total return is -34.9% (1Y), lagging the benchmark by -59.9%
| Period | Total Return | vs S&P 500 (Alpha) | Dividend Contribution |
|---|---|---|---|
| YTD | -23.1% | -32.4% | — |
| 1Y | -34.9% | -59.9% | — |
| 3YCAGR | -23.2% | -43.4% | — |
| 5YCAGR | -20.4% | -33.3% | — |
| 10YCAGR | -10.1% | -24.0% | — |
The S&P 500 is at 31.3x trailing P/E — Expensive relative to historical averages.
Quick answers to common questions about Docebo Inc. (DCBO) valuation, health, and returns.
Based on peer relative multiples, Docebo Inc. appears Slightly expensive versus peers compared to industry peers.
Docebo Inc. has multiple valuation anchors: Peer Relative Fair Value: $14.23 | Wall Street Analyst Target: $31.80 (implying +84.3% upside). A convergence of these signals offers higher conviction.
Docebo Inc. displays excellent financial health with a composite quality score of 80/100, supported by a Altman Z-Score of 2.7 (grey zone), Piotroski F-Score of 5/9, Return on Invested Capital (ROIC) of 411.0%.
Docebo Inc. returns capital via buybacks instead of dividends, carrying a 9.6% buyback yield and reducing outstanding shares by -5.1% in the last 12 months.
Docebo Inc.'s current growth trajectory is Decelerating. The company achieved +13.8% 1Y revenue growth and +51.2% 1Y EPS growth, compared to its 3Y revenue CAGR of +20.0%.
Wall Street consensus is Buy based on 10 analysts, beating EPS expectations in 92% of recent quarters with a 5-quarter streak. The consensus price target represents a +84.3% change from current levels.
Investment risks for Docebo Inc. include: -54.3% 1-year max drawdown. Volatility risk is characterized by a beta of 1.12x.
No. These computations are purely quantitative model outputs for informational purposes. They do not account for qualitative management shifts or macro events. Always consult a licensed RIA before buying or selling shares.
Disclaimer: This page is for informational purposes only and does not constitute financial advice. All valuation models, scores, and target estimates are automated computations under stated assumptions and should not be relied upon as the sole basis for any investment decision.