7 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 25.5% per year over the past 5 years.
Net income has grown faster than revenue (31.3% vs 25.5% per year).
Operating margin has expanded, at 33.3% in the latest year.
Free cash flow has grown 31.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$645M
$196M
89.1%
33.3%
20.6%
17.4%
$326M
—
$219M
2025
$570M
$223M
90.2%
39.9%
20.6%
17.7%
$273M
—
$210M
2024
$475M
$148M
89.3%
34.5%
16.4%
13.7%
$184M
—
$97M
2023
$419M
$113M
87.2%
29.9%
11.7%
9.9%
$178M
—
$158M
2022
$344M
$155M
88.4%
33.0%
17.6%
15.6%
$125M
—
$113M
2021
$207M
$50M
84.9%
25.8%
75.2%
19.9%
$83M
—
$66M
2020
$116M
$30M
87.2%
19.0%
2617.7%
—
$26M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Mar '26
$145M
$19M
86.7%
17.1%
2.0%
1.7%
—
—
$219M
Dec '25
$185M
$62M
89.9%
38.9%
6.3%
5.3%
—
—
$65M
Sep '25
$169M
$62M
90.3%
37.8%
5.7%
4.9%
—
—
$169M
Jun '25
$146M
$53M
89.2%
37.4%
5.2%
4.4%
—
—
$137M
Mar '25
$138M
$62M
89.5%
35.2%
5.8%
4.9%
$98M
—
$210M
Dec '24
$169M
$75M
91.6%
47.4%
7.3%
6.4%
$65M
—
$165M
Sep '24
$137M
$44M
90.0%
38.8%
4.6%
3.9%
$68M
—
$184M
Jun '24
$127M
$41M
89.3%
36.4%
4.5%
3.9%
$41M
—
$111M
Mar '24
$118M
$41M
89.4%
35.5%
4.5%
3.8%
$64M
—
$97M
Dec '23
$135M
$48M
91.0%
43.3%
5.5%
4.8%
$50M
—
$123M
Sep '23
$114M
$31M
88.8%
29.7%
3.5%
3.0%
$13M
—
$108M
Jun '23
$108M
$28M
87.9%
27.4%
2.9%
2.5%
$57M
—
$307M
Mar '23
$111M
$31M
87.7%
29.6%
3.2%
2.7%
$47M
—
$158M
Dec '22
$115M
$33M
88.3%
33.4%
3.6%
3.1%
$48M
—
$136M
Sep '22
$102M
$26M
87.1%
31.4%
3.0%
2.6%
$39M
—
$74M
Jun '22
$91M
$22M
85.6%
23.9%
2.5%
2.1%
$44M
—
$110M
Mar '22
$94M
$37M
87.4%
29.8%
4.2%
3.7%
$46M
—
$113M
Dec '21
$98M
$56M
88.7%
36.6%
6.6%
6.0%
$27M
—
$85M
Sep '21
$79M
$36M
88.7%
31.4%
4.7%
4.2%
$19M
—
$80M
Jun '21
$73M
$26M
89.0%
34.2%
3.6%
3.2%
$33M
—
$594M
Valuation over time
How the market has priced DOCS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 51.1× (Mar '23) to 29.9× (Nov '26).
The price-to-sales ratio has fallen from 13.8× (Mar '23) to 9.1× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is DOCS growing its revenue and profit?
Over the past 5 years, Doximity, Inc.'s revenue has grown 25.5% per year, and net income grown 31.3% per year. These are computed facts, not advice.
How much debt does DOCS have?
As of FY2026, Doximity, Inc. reported — of total debt against $219M of cash.
What is DOCS's profit margin?
In FY2026, gross margin was 89.1%, operating margin 33.3%, and net margin 30.4%.
What is DOCS's P/E ratio?
Doximity, Inc.'s P/E (TTM) is 35.07 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the DOCS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 29.9× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.