Doximity (DOCS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Doximity

NYSE•Healthcare•Health Information Services

$24.42-1.93(-0.07%)Pre-market

Market Cap

$4.51B

P/E

27.0x

P/S

6.9x

P/B

4.9x

Doximity, Inc. operates a digital platform for medical professionals in the United States. Its Doximity platform includes a personalized newsfeed that presents clinical and professional content to members, which offers medical articles, clinical trials or research results in an easy-to-consume video format, professional updates and accomplishments of their peers and colleagues, clinical discussions, Op-Med articles for publication, and sponsored content from pharmaceutical manufacturers and health systems. The company also offers workflow tools, including Ask, a HIPAA-compliant AI assistant, to access and apply evidence-based medical information within clinical workflows; Scribe, a HIPAA-compliant, AI-powered clinical documentation tool; Telehealth tools for hospitals and health systems; and AMiON, an on-call scheduling tool. The company primarily serves physicians, nurse practitioners, physician assistants, medical students, pharmaceutical manufacturers, and healthcare systems. The company was formerly known as 3MD Communications, Inc. and changed its name to Doximity, Inc. in June 2010. Doximity, Inc. was incorporated in 2010 and is headquartered in San Francisco, California.

How this company scores

GoodMetricSide Score: 70/100

Strongest: Cash & Earnings Quality (21/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability19/25

Growth15/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality21/25

Strengths

Strong marginsHigh ROEInterest easily coveredCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 27.0x5y range 22.4x – 55.7x

Currently below its 18-quarter median.

P/S · 6.9x5y range 6.8x – 24.7x

Currently below its 18-quarter median.

P/B · 4.9x5y range 4.6x – 19.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 27.5% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Price & Volume

Market Cap $4.51B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $655.57M
Q. Revenue: $156.62M
TTM EBITDA: $217.38M
TTM Op. Income: $194.05M
Q. Op. Income: $33.64M
TTM Net Income: $167.05M
Q. Net Income: $24.32M
EPS: $0.13
Shares Out.: $182.57M

$655.57M in TTM revenue grew 11.2% YoY, reaching $156.62M last quarter. TTM EBITDA of $217.38M and TTM operating income of $194.05M show growth is flowing through to the bottom line. TTM net income of $167.05M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 84.9%
EBITDA Margin: 24.2%
Op. Margin: 21.5%
Net Margin: 15.5%

Op. margin of 21.5% is down 15.9% YoY — costs are rising relative to revenue. Net margin at 15.5% and gross margin of 84.9% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 43% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 27.0x
P/S Ratio: 6.9x
P/B Ratio: 4.9x

At 27.0x P/E, the stock trades within typical market levels. P/S of 6.9x and P/B of 4.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 45% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.08B
Cash: $273.60M
Long-Term Debt: N/A
Book Value: $916.07M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $41.99M
TTM Free Cash Flow: $306.28M
FCF Margin: 46.7%
FCF / Net Income: 1.8

TTM FCF of $306.28M on $41.99M in operating cash flow. The FCF / Net Income ratio of 1.8x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 4% — a weakening trend.