Bedrijfsoverzicht
Docebo Inc. operates within the technology sector, specifically focusing on the software application industry, where it develops and provides a learning management platform designed to facilitate corporate training in Canada, the United States, and international markets. The company's cloud-based infrastructure includes a learning suite that empowers learning administrators to deliver content efficiently through the Docebo Learn platform, supporting organizational development needs across various regions. With a market capitalization of $380.37M and an annual revenue of $242.69M, Docebo Inc. demonstrates a mid-cap profile that suggests a significant but not dominant position within its niche. The organization employs 966 individuals, indicating a substantial operational scale that supports its global service delivery model. These valuation and revenue figures collectively indicate a company that has achieved a level of market penetration sufficient to sustain operations while remaining sensitive to sector-specific growth dynamics.
Financiële gezondheid
The company reported a trailing twelve-month revenue of $242.69M, resulting in a net income of $37.51M and an EBITDA of $30.97M, which highlights a cost structure where operating expenses consume a significant portion of the top line before reaching the bottom line. While the net income is notably higher than the EBITDA figure, this discrepancy reveals that non-operating expenses or one-time charges are relatively minimal compared to the core operating earnings. The free cash flow stands at $6.79M, a figure that is lower than the EBITDA, suggesting that capital expenditures or working capital requirements are absorbing a meaningful share of the generated cash, thereby impacting the company's immediate financial flexibility. Profitability is characterized by a gross margin of 80.2%, an operating margin of 15.4%, and a profit margin of 15.5%, indicating strong pricing power in software sales but a typical margin compression as operating costs scale with revenue. The balance sheet shows $74.04M in cash against only $2.56M in debt, creating a conservative financial structure where liquidity significantly exceeds obligations. This is further confirmed by a debt-to-equity ratio of 3.46 and a current ratio of 1.22, the latter indicating that the company possesses sufficient current assets to cover its short-term liabilities, though the liquidity cushion is not excessive. Management effectiveness is evidenced by a return on equity of 56.9% and a return on assets of 9.3%, metrics that demonstrate the company generates substantial returns on shareholder capital relative to its total asset base.
Waarderingsbeoordeling
Docebo Inc. currently trades with a trailing P/E ratio of 11.48 and a forward P/E of 7.57, implying that the market expects earnings growth to accelerate significantly in the coming year, as the forward multiple is substantially lower than the historical average. The price-to-book ratio is 5.70, which indicates that the market is valuing the company at a significant premium over its book value, reflecting intangible assets and growth prospects that are not captured on the balance sheet. Alternative valuation metrics such as the price-to-sales ratio of 1.57 and an EV/EBITDA of 11.34 suggest that the stock is priced reasonably relative to its sales volume and enterprise earnings, providing a different perspective on value than the P/E alone. The 52-week trading range spans from a low of $14.69 to a high of $33.70, and without a specific current share price provided in the data, the absolute position relative to this range cannot be calculated, though the wide spread suggests significant volatility over the past year. The beta of 0.78 indicates that the stock exhibits lower volatility than the broader market, moving less drastically than the S&P 500 during periods of general market fluctuation. These valuation metrics combined suggest a company that is not priced for extreme hyper-growth but may offer stability relative to the broader index.
Growth & Income
Revenue growth for the trailing twelve months stands at 10.5%, while earnings growth surged to 141.7% year over year, clearly indicating that earnings are expanding at a rate far faster than revenue, likely driven by margin expansion or one-time cost savings rather than pure volume growth. As a non-dividend payer, Docebo Inc. has a dividend yield of N/A and a payout ratio of 0.0%, meaning the company does not distribute profits to shareholders but instead retains all earnings to reinvest into business expansion, research, and development. This retention strategy aligns with the high earnings growth rate, as the company prioritizes funding its own growth trajectory over providing immediate income to investors. The overall growth and income profile is characterized by robust earnings acceleration and a zero-dividend policy that channels capital back into the technology platform and global training solutions.