DOCEBO INC (DCBO.CA) Fundamental Analysis & Valuation

TSX:DCBO • CA25609L1058

Current stock price

23.1 CAD
-1.44 (-5.87%)
Last:

This DCBO.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. DCBO.CA Profitability Analysis

1.1 Basic Checks

  • DCBO had positive earnings in the past year.
  • DCBO had a positive operating cash flow in the past year.
  • DCBO had positive earnings in 4 of the past 5 years.
  • Of the past 5 years DCBO 4 years had a positive operating cash flow.
DCBO.CA Yearly Net Income VS EBIT VS OCF VS FCFDCBO.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10M -10M 20M 30M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 18.15%, DCBO belongs to the top of the industry, outperforming 94.03% of the companies in the same industry.
  • DCBO has a better Return On Equity (50.63%) than 95.52% of its industry peers.
  • The Return On Invested Capital of DCBO (25.58%) is better than 97.01% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for DCBO is above the industry average of 12.43%.
  • The last Return On Invested Capital (25.58%) for DCBO is above the 3 year average (14.68%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 18.15%
ROE 50.63%
ROIC 25.58%
ROA(3y)11.32%
ROA(5y)6.27%
ROE(3y)34.17%
ROE(5y)19.81%
ROIC(3y)14.68%
ROIC(5y)N/A
DCBO.CA Yearly ROA, ROE, ROICDCBO.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 200

1.3 Margins

  • DCBO has a Profit Margin of 15.46%. This is amongst the best in the industry. DCBO outperforms 86.57% of its industry peers.
  • DCBO's Profit Margin has improved in the last couple of years.
  • The Operating Margin of DCBO (12.13%) is better than 73.13% of its industry peers.
  • DCBO has a Gross Margin of 80.42%. This is amongst the best in the industry. DCBO outperforms 83.58% of its industry peers.
  • In the last couple of years the Gross Margin of DCBO has remained more or less at the same level.
Industry RankSector Rank
OM 12.13%
PM (TTM) 15.46%
GM 80.42%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y46.55%
PM growth 5YN/A
GM growth 3Y0%
GM growth 5Y-0.34%
DCBO.CA Yearly Profit, Operating, Gross MarginsDCBO.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 60 80

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8

2. DCBO.CA Health Analysis

2.1 Basic Checks

  • DCBO has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for DCBO has been reduced compared to 1 year ago.
  • Compared to 5 years ago, DCBO has less shares outstanding
  • The debt/assets ratio for DCBO is higher compared to a year ago.
DCBO.CA Yearly Shares OutstandingDCBO.CA Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M
DCBO.CA Yearly Total Debt VS Total AssetsDCBO.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

2.2 Solvency

  • DCBO has an Altman-Z score of 2.87. This is not the best score and indicates that DCBO is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.87, DCBO is in the better half of the industry, outperforming 68.66% of the companies in the same industry.
  • The Debt to FCF ratio of DCBO is 0.09, which is an excellent value as it means it would take DCBO, only 0.09 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of DCBO (0.09) is better than 91.04% of its industry peers.
  • A Debt/Equity ratio of 0.03 indicates that DCBO is not too dependend on debt financing.
  • DCBO's Debt to Equity ratio of 0.03 is fine compared to the rest of the industry. DCBO outperforms 71.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.09
Altman-Z 2.87
ROIC/WACC2.59
WACC9.87%
DCBO.CA Yearly LT Debt VS Equity VS FCFDCBO.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M

2.3 Liquidity

  • DCBO has a Current Ratio of 1.22. This is a normal value and indicates that DCBO is financially healthy and should not expect problems in meeting its short term obligations.
  • DCBO has a Current ratio of 1.22. This is comparable to the rest of the industry: DCBO outperforms 55.22% of its industry peers.
  • A Quick Ratio of 1.22 indicates that DCBO should not have too much problems paying its short term obligations.
  • DCBO has a Quick ratio of 1.22. This is comparable to the rest of the industry: DCBO outperforms 55.22% of its industry peers.
  • The current and quick ratio evaluation for DCBO is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.22
Quick Ratio 1.22
DCBO.CA Yearly Current Assets VS Current LiabilitesDCBO.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

9

3. DCBO.CA Growth Analysis

3.1 Past

  • DCBO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 56.98%, which is quite impressive.
  • DCBO shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 88.99% yearly.
  • The Revenue has grown by 11.87% in the past year. This is quite good.
  • DCBO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 30.99% yearly.
EPS 1Y (TTM)56.98%
EPS 3Y88.99%
EPS 5YN/A
EPS Q2Q%18.42%
Revenue 1Y (TTM)11.87%
Revenue growth 3Y19.31%
Revenue growth 5Y30.99%
Sales Q2Q%10.51%

3.2 Future

  • DCBO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.29% yearly.
  • Based on estimates for the next years, DCBO will show a very strong growth in Revenue. The Revenue will grow by 26.95% on average per year.
EPS Next Y18.91%
EPS Next 2Y18.91%
EPS Next 3Y20.92%
EPS Next 5Y22.29%
Revenue Next Year10.62%
Revenue Next 2Y11.22%
Revenue Next 3Y11.56%
Revenue Next 5Y26.95%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
DCBO.CA Yearly Revenue VS EstimatesDCBO.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M 800M
DCBO.CA Yearly EPS VS EstimatesDCBO.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2 3

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8

4. DCBO.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 12.35, the valuation of DCBO can be described as correct.
  • DCBO's Price/Earnings ratio is rather cheap when compared to the industry. DCBO is cheaper than 83.58% of the companies in the same industry.
  • DCBO's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.88.
  • Based on the Price/Forward Earnings ratio of 10.40, the valuation of DCBO can be described as reasonable.
  • DCBO's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. DCBO is cheaper than 79.10% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, DCBO is valued rather cheaply.
Industry RankSector Rank
PE 12.35
Fwd PE 10.4
DCBO.CA Price Earnings VS Forward Price EarningsDCBO.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, DCBO is valued a bit cheaper than 62.69% of the companies in the same industry.
  • DCBO's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. DCBO is cheaper than 71.64% of the companies in the same industry.
Industry RankSector Rank
P/FCF 17.66
EV/EBITDA 13.45
DCBO.CA Per share dataDCBO.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • DCBO has an outstanding profitability rating, which may justify a higher PE ratio.
  • DCBO's earnings are expected to grow with 20.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.65
PEG (5Y)N/A
EPS Next 2Y18.91%
EPS Next 3Y20.92%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. DCBO.CA Dividend Analysis

5.1 Amount

  • DCBO does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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DCBO.CA Fundamentals: All Metrics, Ratios and Statistics

DOCEBO INC

TSX:DCBO (3/27/2026, 7:00:00 PM)

23.1

-1.44 (-5.87%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)02-27
Earnings (Next)05-07
Inst Owners32.89%
Inst Owner ChangeN/A
Ins Owners0.4%
Ins Owner ChangeN/A
Market Cap664.36M
Revenue(TTM)242.69M
Net Income(TTM)37.51M
Analysts80
Price Target35.06 (51.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.78%
Min EPS beat(2)1.01%
Max EPS beat(2)22.55%
EPS beat(4)4
Avg EPS beat(4)19.42%
Min EPS beat(4)1.01%
Max EPS beat(4)28.07%
EPS beat(8)7
Avg EPS beat(8)27.59%
EPS beat(12)10
Avg EPS beat(12)11.91%
EPS beat(16)13
Avg EPS beat(16)101.18%
Revenue beat(2)0
Avg Revenue beat(2)-0.99%
Min Revenue beat(2)-1.11%
Max Revenue beat(2)-0.86%
Revenue beat(4)1
Avg Revenue beat(4)-0.56%
Min Revenue beat(4)-1.61%
Max Revenue beat(4)1.34%
Revenue beat(8)2
Avg Revenue beat(8)-0.54%
Revenue beat(12)2
Avg Revenue beat(12)-0.68%
Revenue beat(16)2
Avg Revenue beat(16)-0.99%
PT rev (1m)-0.47%
PT rev (3m)-7.83%
EPS NQ rev (1m)2.08%
EPS NQ rev (3m)2.08%
EPS NY rev (1m)5.32%
EPS NY rev (3m)5.32%
Revenue NQ rev (1m)3.06%
Revenue NQ rev (3m)3.06%
Revenue NY rev (1m)0.71%
Revenue NY rev (3m)3.1%
Valuation
Industry RankSector Rank
PE 12.35
Fwd PE 10.4
P/S 1.98
P/FCF 17.66
P/OCF 17.04
P/B 6.48
P/tB 8.21
EV/EBITDA 13.45
EPS(TTM)1.87
EY8.1%
EPS(NY)2.22
Fwd EY9.61%
FCF(TTM)1.31
FCFY5.66%
OCF(TTM)1.36
OCFY5.87%
SpS11.67
BVpS3.56
TBVpS2.82
PEG (NY)0.65
PEG (5Y)N/A
Graham Number12.25
Profitability
Industry RankSector Rank
ROA 18.15%
ROE 50.63%
ROCE 35.53%
ROIC 25.58%
ROICexc 240.52%
ROICexgc N/A
OM 12.13%
PM (TTM) 15.46%
GM 80.42%
FCFM 11.2%
ROA(3y)11.32%
ROA(5y)6.27%
ROE(3y)34.17%
ROE(5y)19.81%
ROIC(3y)14.68%
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)20.39%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y46.55%
PM growth 5YN/A
GM growth 3Y0%
GM growth 5Y-0.34%
F-Score6
Asset Turnover1.17
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.09
Debt/EBITDA 0.06
Cap/Depr 30.79%
Cap/Sales 0.4%
Interest Coverage 250
Cash Conversion 86.37%
Profit Quality 72.49%
Current Ratio 1.22
Quick Ratio 1.22
Altman-Z 2.87
F-Score6
WACC9.87%
ROIC/WACC2.59
Cap/Depr(3y)29.27%
Cap/Depr(5y)38.17%
Cap/Sales(3y)0.44%
Cap/Sales(5y)0.64%
Profit Quality(3y)239%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)56.98%
EPS 3Y88.99%
EPS 5YN/A
EPS Q2Q%18.42%
EPS Next Y18.91%
EPS Next 2Y18.91%
EPS Next 3Y20.92%
EPS Next 5Y22.29%
Revenue 1Y (TTM)11.87%
Revenue growth 3Y19.31%
Revenue growth 5Y30.99%
Sales Q2Q%10.51%
Revenue Next Year10.62%
Revenue Next 2Y11.22%
Revenue Next 3Y11.56%
Revenue Next 5Y26.95%
EBIT growth 1Y55.67%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year118.64%
EBIT Next 3Y44.38%
EBIT Next 5Y27.18%
FCF growth 1Y-2.9%
FCF growth 3Y182.43%
FCF growth 5Y48.94%
OCF growth 1Y-3.68%
OCF growth 3Y130.92%
OCF growth 5Y40.42%

DOCEBO INC / DCBO.CA Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for DOCEBO INC?

ChartMill assigns a fundamental rating of 8 / 10 to DCBO.CA.


What is the valuation status of DOCEBO INC (DCBO.CA) stock?

ChartMill assigns a valuation rating of 8 / 10 to DOCEBO INC (DCBO.CA). This can be considered as Undervalued.


How profitable is DOCEBO INC (DCBO.CA) stock?

DOCEBO INC (DCBO.CA) has a profitability rating of 8 / 10.


How financially healthy is DOCEBO INC?

The financial health rating of DOCEBO INC (DCBO.CA) is 8 / 10.