NYSE · DOCS

Doximity, Inc.

Healthcare · Medical - Healthcare Information Services

$26.72▼ 0.45% ($0.12)today

As of 11:27 AM ET

52-week

$17.15$76.51

Market cap

$5.00B

P/E

30.58

EPS (TTM)

$0.87

Next earnings

Nov 5, 2026

What the market price implies · Reverse DCF

To support a price of $26.72, this model requires revenue to grow by 16.19%/yr over the next 10 years, compounded annually.

Historical revenue grew by 17.05%/yr over the past 4 years. The required annual growth rate is 0.86 percentage points lower.

Selected forecast · Base scenario

8.05%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.61%

Market-implied · Base operating assumptions + edited margins

16.19%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$26.72

Estimated value / share

$17.01

Base scenario

This estimate is 36.35% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 12.61% · Ending margin 29.6% · Discount rate 11.82%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 3:27 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 22, 2026, 3:27 PM UTC · provider

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 8 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 82.9%.

Do you have 5+ years of positive FCFF history? 8 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Operating margin moved 10.1 percentage points across the last five years, above the 10.0-point stability threshold, so steady-state FCFF is not a reliable anchor yet.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: -63.36%Revenue (TTM): 11.18%FCF (TTM): 4.16%P/FCF: 10th pct

What changed

The stock fell 63.36% over the last year. Revenue grew 11.18% over the trailing twelve months. Operating margin moved from 40.07% to 29.6%. Free cash flow grew 4.16% over the trailing twelve months.

What the market seems to be pricing

The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 29.6%. A decisive move in revenue — currently up 11.18% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Doximity, Inc. provides a digital platform, hosted in the cloud, specifically designed for healthcare practitioners throughout the United States.

CEOJeffrey A. Tangney

SectorHealthcare

IndustryMedical - Healthcare Information Services

Employees880

IPO dateJun 24, 2021

https://www.doximity.com

Market multiples

Forward P/E—

EV/EBITDA15.69

Enterprise value$4.15B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth7.34%

Gross margin (FY2026)89.09%▼1.1ppvs FY2025

Operating margin (FY2026)33.33%▼6.6ppvs FY2025

ROE17.21%▼2.1ppvs FY2026

Analyst consensus

RatingHold

Target price$27.36▲2.40%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 5, 2026

Q4 FY26 · EPS est $0.34 · Revenue est $170.55M

View

NYSE · DOCS

Doximity, Inc.

Healthcare · Medical - Healthcare Information Services

$26.72▼ 0.45% ($0.12)today

As of 11:27 AM ET

52-week

$17.15$76.51

Market cap

$5.00B

P/E

30.58

EPS (TTM)

$0.87

Next earnings

Nov 5, 2026

What the market price implies · Reverse DCF

To support a price of $26.72, this model requires revenue to grow by 16.19%/yr over the next 10 years, compounded annually.

Historical revenue grew by 17.05%/yr over the past 4 years. The required annual growth rate is 0.86 percentage points lower.

Selected forecast · Base scenario

8.05%/yr · actual 10-year annualized revenue growth

Year 1 growth: 12.61%

Market-implied · Base operating assumptions + edited margins

16.19%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$26.72

Estimated value / share

$17.01

Base scenario

This estimate is 36.35% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 12.61% · Ending margin 29.6% · Discount rate 11.82%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 3:27 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 22, 2026, 3:27 PM UTC · provider

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 8 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 82.9%.

Do you have 5+ years of positive FCFF history? 8 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

1Y Price: -63.36%Revenue (TTM): 11.18%FCF (TTM): 4.16%P/FCF: 10th pct

What changed

The stock fell 63.36% over the last year. Revenue grew 11.18% over the trailing twelve months. Operating margin moved from 40.07% to 29.6%. Free cash flow grew 4.16% over the trailing twelve months.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 29.6%. A decisive move in revenue — currently up 11.18% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Doximity, Inc. provides a digital platform, hosted in the cloud, specifically designed for healthcare practitioners throughout the United States.

CEOJeffrey A. Tangney

SectorHealthcare

IndustryMedical - Healthcare Information Services

Employees880

IPO dateJun 24, 2021

https://www.doximity.com

Market multiples

Forward P/E—

EV/EBITDA15.69

Enterprise value$4.15B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth7.34%

Gross margin (FY2026)89.09%▼1.1ppvs FY2025

Operating margin (FY2026)33.33%▼6.6ppvs FY2025

ROE17.21%▼2.1ppvs FY2026

Analyst consensus

RatingHold

Target price$27.36▲2.40%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 5, 2026

Q4 FY26 · EPS est $0.34 · Revenue est $170.55M

View