DOCN // DigitalOcean Holdings Inc.

DES <GO> NYSE CIK 0001582961 ↗

Technology • Computer Software: Programming Data Processing

$99.97 ▼ -5.10 (-4.85%)

MKT CAP: $11.75B • VOL: 1.72M

52W L $38 52W H $188

ALTMAN Z

4.39 SAFE

PIOTROSKI

8 / 9

DOCN // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 63/100 [C] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C

RQD CONFIDENCE

63 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Fair / Balanced Risk-Reward

01 MASSIVE / SEC XBRL

Forensic Fundamentals

15 / 20

SOLID

FCF +72.6% vs NI +200% • ROIC-WACC +4.6% • Z 4.39

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did DOCN's Whale & Options Flow & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever DOCN is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON DOCN)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 94/100 Z-SCORE: +3.82σ

DOCN Accounting Gap: Net Income (+206.8%) Outpaced OCF (+9.5%) With +36.8% Working-Capital Build

CASH CONVERSION GAP

+197.3% (NI vs OCF)

RECEIVABLES / WC BLOAT

+36.8% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on DigitalOcean Holdings Inc. (DOCN) exposes a +197.3% Cash Conversion Gap as YoY Net Income growth (+206.8%) diverged from Operating Cash Flow growth (+9.5%). Non-cash current assets and receivables expanded +36.8% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

DOCN // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -7.03%📐 HORIZONTAL RANGE

2026-10-30O $93.04H $93.11L $86.40C $89.65VOL 3.29M

RES: $156.6SUP: $61.00SMA50: $119.8SMA200: $111.5

DOCN // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 52/100

BEAR 0

100 BULL

DigitalOcean Holdings Inc. (DOCN) exhibits 59.9% gross margins and 13.2% return on invested capital within Technology (Computer Software: Programming Data Processing), balanced against a 46.8x enterprise multiple and 8.1% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 59.9% gross profitability converts into 17.4% operating margin and 13.2% ROIC, outpacing sector cost of capital.

ROIC: 13.2% // GM: 59.9%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +15.5% paired with 1.54% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +15.5% // FCF YLD: 1.54%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 4.39 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.

ALTMAN Z: 4.39 // F-SCORE: 8/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 45.3x trailing P/E (38.1x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 45.3x // EV/EBITDA: 46.8x

02. Options Skew & Event Volatility Risk

Options market prices a ±8.1% implied move with a 0.98 put/call ratio around $98.00 max pain.

IMPL MOVE: ±8.1% // P/C: 0.98

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Computer Software: Programming Data Processing require continuous execution to defend 28.8% net margins.

NET MARGIN: 28.8% // D/E: 0.85x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 38.1x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.34).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 45.3x

FORWARD P/E 38.1x

EV / EBITDA 46.8x

FCF YIELD 1.54%

GROSS MARGIN 59.9%

OPERATING MARGIN 17.4%

NET MARGIN 28.8%

ROIC % 13.2%

REV GROWTH YOY +15.5%

DILUTED EPS TTM $2.20

DEBT / EQUITY 0.85x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 33.7

5Y EQUITY BETA 1.34

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // DOCNPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $91.48

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for DOCN & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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MARGINS ROIC VALUATION