DOCU // DocuSign Inc.

DES <GO> NASDAQ CIK 0001261333 ↗

Technology • Computer Software: Prepackaged Software

$81.54 ▼ -2.06 (-2.46%)

MKT CAP: $15.24B • VOL: 2.77M

52W L $40 52W H $86

ROARABLE / RQD

C+ • 67/100

ALTMAN Z

4.18 SAFE

PIOTROSKI

7 / 9

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

PRIOR: RQD 67/100 [C+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C+

RQD CONFIDENCE

67 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Upper Neutral / Watch for Breakout

01 MASSIVE / SEC XBRL

Forensic Fundamentals

16 / 20

STRONG

FCF +15% vs NI -71.1% • ROIC-WACC +1% • Z 4.18

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

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did DOCU'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 DOCU is Upgraded or Downgraded.

DOCU // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +78.67%▲ ASCENDING CHANNEL

2026-10-30O $82.07H $84.20L $81.53C $82.17VOL 3.03M

RES: $87.55SUP: $72.97SMA50: $70.79SMA200: $54.58

DOCU // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 45/100

BEAR 0

100 BULL

DocuSign Inc. (DOCU) exhibits 79.4% gross margins and 10.3% return on invested capital within Technology (Computer Software: Prepackaged Software), balanced against a 40.1x enterprise multiple and 8.0% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 79.4% gross profitability converts into 9.3% operating margin and 10.3% ROIC, outpacing sector cost of capital.

ROIC: 10.3% // GM: 79.4%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +8.2% paired with 6.95% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +8.2% // FCF YLD: 6.95%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 4.18 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.

ALTMAN Z: 4.18 // F-SCORE: 7/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 49.3x trailing P/E (45.8x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 49.3x // EV/EBITDA: 40.1x

02. Options Skew & Event Volatility Risk

Options market prices a ±8.0% implied move with a 0.80 put/call ratio around $80.00 max pain.

IMPL MOVE: ±8.0% // P/C: 0.80

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Computer Software: Prepackaged Software require continuous execution to defend 9.6% net margins.

NET MARGIN: 9.6% // D/E: 0.51x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 45.8x 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 1.31).

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 49.3x

FORWARD P/E 45.8x

EV / EBITDA 40.1x

FCF YIELD 6.95%

GROSS MARGIN 79.4%

OPERATING MARGIN 9.3%

NET MARGIN 9.6%

ROIC % 10.3%

REV GROWTH YOY +8.2%

DILUTED EPS TTM $1.65

DEBT / EQUITY 0.51x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 63.8

5Y EQUITY BETA 1.31

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // DOCUPEARSON 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: $74.61

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 DOCU & activate live FRED threshold breach alerts.

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