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Digitalocean Holdings, Inc. (DOCN) stock

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NYSE: DOCN NYSE Internet Services & Infrastructure Next results ~November 3, 2026

B Fundamentals grade

Digitalocean Holdings, Inc. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 50% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 50% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Digitalocean Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 33 sales by directors and officers, last 12 monthsInsider trades
  • Funds326 adding, 251 cuttingOf 76 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Digitalocean Holdings files

Where Digitalocean stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.01bn, up 21.4% on a year earlier, faster than 17.6% a quarter earlier. That growth ranks 162 of 931 among all the companies we cover. Free-cash-flow margin rose to 19.2% from 12.4% a year earlier. The diluted share count is up 14.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 7 financial-health checks.

Our model value for Digitalocean Holdings is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Digitalocean Holdings, Inc.'s trailing-twelve-month revenue grew 27.6% year on year, with a free-cash-flow margin of 20.0%. Where it stands out: operating margin of 12.5% ranks 3 of 33 internet services & infrastructure companies we cover.

Our discounted-cash-flow model values the business at ~$59 per share in the base case (~$46–$75 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 32.1% while net income fell 86.4%: a 118pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 27.6% over the last 12 months, against a median of 10.1% for internet services & infrastructure companies we cover.
  • Growth speeding up. The growth rate is 6.2 points higher than a quarter earlier.
  • Strong cash generation. 20.0% of revenue turned into free cash flow, against a median of 16.2% for internet services & infrastructure companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.5bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Margins narrowing. Operating margin is down 5.0 points on a year ago.
  • Share dilution. Diluted shares rose 15.7% in a year.
  • High earnings multiple. The shares trade at 44 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 89% and a beta of 2.8 against the S&P 500.
  • Insiders selling. 8 insiders sold $574M of stock over the past 365 days and none bought (2% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 5.9 points on a year ago.

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$0.45 against an average estimate of $0.26: beat by 72.9%
Revenue
$321m, up 39.9% on a year earlier
Guidance given
total revenue $304m to $307m (the third quarter ending September 30, 2026); total revenue growth, year-over-year growth 32% to 34% (the third quarter ending September 30, 2026)
Next report
November 3, 2026; average EPS estimate $0.32

Digitalocean Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.2%
  • 1 week-9.8%
  • 1 month-35.9%
  • This year+86.6%
  • 1 year+120.8%
  • 5 years-5.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
12.5%
Net margin
3.1%
EPS (TTM, diluted)
$0.29

Growth

Revenue growth
+27.6%
Change in growth rate
+6.2 pts
Share count change
+15.7%

Cash

Free cash flow (TTM)
$221M
FCF margin
20.0%
Stock pay % of revenue
10.1%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Product
  4. Announcement
  5. Product
  6. Insider trade
  7. Product
  8. Announcement
  9. Agreement
  10. Insider trade
  11. Results
  12. Guidance
  13. Announcement
  14. Announcement
  15. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Digitalocean Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 50% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Digitalocean Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.36 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$27 ~$22–$52 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.2 ~$0.7–$2.0 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Digitalocean Holdings, Inc. with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$80.33$25.47$36.69$34.07$48.12$89.79
Market value$7.5bn$2.6bn$3.5bn$3.2bn$5.1bn$10.5bn
+ Net debt (− = net cash)−$251m$1.3bn$1.2bn$1.1bn$1.1bn−$201m
Enterprise value$7.2bn$3.9bn$4.7bn$4.3bn$6.1bn$10.3bn
Multiples
Price / sales 17.5x4.5x5.1x4.1x5.6x9.5x
Price / earnings ——182.3x38.1x19.6xn/m
Price / free cash flow n/m28.9x30.6x30.8x28.1x42.9x
EV / EBITDA 93.8x50.9x36.2x19.4x20.8x30.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

42 /100

Weak moat

How hard Digitalocean Holdings's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 8.8% of total assets over 5 years.

  • Pricing power 19 / 20

    Gross margin has been a median 58.7%, moving by 2.6 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 4.7%; its worst year was -4.6%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 6 of 6 years, at a median 15.2% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 51.7% over five years; stock-based pay has been a median 11.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (47 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $307m and EPS of $0.32 (range $0.29 to $0.41) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.45 −32% $1.2bn +31%
Next $1.83 +26% $1.8bn +55%

Next year's EPS estimate has moved −1.5% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +17.6% on 90 days ago. In the last 30 days, 14 analysts raised Digitalocean Holdings, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Digitalocean Holdings, Inc., last 90 days
$1.20 $1.40 $1.60 $1.80 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.23 Current fiscal year, 60 days ago: $1.45 Current fiscal year, 30 days ago: $1.46 Current fiscal year, 7 days ago: $1.46 Current fiscal year, Now: $1.45 $1.45 Next fiscal year, 90 days ago: $1.86 Next fiscal year, 60 days ago: $1.85 Next fiscal year, 30 days ago: $1.84 Next fiscal year, 7 days ago: $1.85 Next fiscal year, Now: $1.83 $1.83

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.23$1.86
60 days ago $1.45$1.85
30 days ago $1.46$1.84
7 days ago $1.46$1.85
Now $1.45$1.83

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.26 $0.45 +72.9%
Mar 2026 $0.26 $0.44 +67.7%
Dec 2025 $0.38 $0.44 +15.5%
Sept 2025 $0.49 $0.54 +9.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Total revenue the full year 2026 $1.17bn to $1.18bn Raised
    “Total revenue of $1.170 to $1.180 billion, up 30% to 31% year-over-year.” source
  • Total revenue growth, year-over-year the full year 2026 30% growth to 31% growth Raised
    “Total revenue of $1.170 to $1.180 billion, up 30% to 31% year-over-year.” source
  • 2026 revenue outlook growth rate 2026 about 30% growth Raised
    “Our customer momentum and early product traction give us confidence to raise our 2026 revenue outlook to approximately 30%, reaching 35% or more by Q4 2026, and strengthen our conviction in our ability to exceed 50% growth in 2027.” source
  • 2027 revenue growth 2027 about 50% growth
    “Our customer momentum and early product traction give us confidence to raise our 2026 revenue outlook to approximately 30%, reaching 35% or more by Q4 2026, and strengthen our conviction in our ability to exceed 50% growth in 2027.” source
  • Total revenue the third quarter ending September 30, 2026 $304m to $307m New
    “Total revenue of $304 to $307 million, up 32% to 34% year-over-year.” source
  • Total revenue growth, year-over-year the third quarter ending September 30, 2026 32% growth to 34% growth New
    “Total revenue of $304 to $307 million, up 32% to 34% year-over-year.” source
Show 8 more items
  • Revenue growth rate by Q4 2026 about 35% growth
    “Our customer momentum and early product traction give us confidence to raise our 2026 revenue outlook to approximately 30%, reaching 35% or more by Q4 2026, and strengthen our conviction in our ability to exceed 50% growth in 2027.” source
  • Non-GAAP diluted net income per share the full year 2026 $1.35 to $1.40 Non-GAAP
    “Non-GAAP diluted net income per share of $1.35 to $1.40.” source
  • Non-GAAP diluted net income per share the third quarter ending September 30, 2026 $0.28 to $0.30 Non-GAAP New
    “Non-GAAP diluted net income per share of $0.28 to $0.30.” source
  • Adjusted EBITDA margin the full year 2026 38.5% to 39.5% Non-GAAP
    “Adjusted EBITDA margin of 38.5% to 39.5%.” source
  • Adjusted free cash flow margin the full year 2026 11% to 13% Non-GAAP
    “Adjusted free cash flow margin in the range of 11% to 13% of revenue.” source
  • Fully diluted weighted average shares outstanding the full year 2026 122m to 123m
    “Fully diluted weighted average shares outstanding of approximately 122 to 123 million shares.” source
  • Adjusted EBITDA margin the third quarter ending September 30, 2026 38% to 39% Non-GAAP New
    “Adjusted EBITDA margin of 38% to 39%.” source
  • Fully diluted weighted average shares outstanding the third quarter ending September 30, 2026 126m to 127m New
    “Fully diluted weighted average shares outstanding of approximately 126 to 127 million shares.” source

How earlier guidance turned out

  • Total revenue, second quarter ending June 30, 2026 guided $272m to $274m Above range: $281m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

17 analysts, Oct 2026
Buy1588%
Hold212%
Sell00%

Monthly trend

  1. Oct 2026411217
  2. Sep 2026311317
  3. Aug 2026311317
  4. Jul 2026310316

Counts of recommendations published by analysts covering Digitalocean Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.5%
of tradable shares
Days to cover
4.01
at average volume
Short interest, 1 month
+24%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
16.6%
of shares
Employees
1,462
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +120.8%

$40.66 on October 31, 2025 to $89.79

ThenNowEffect
Revenue (last 12 months) $833m $1.0bn +21.4%
Net margin 15.2% 23.3% +53.2%
P/E multiple 32.2x 43.6x +35.6%
Share count 100m 114m −12.5%

Biggest factor: net margin.

Last 3 years +262.6%

$24.76 on November 3, 2023 to $89.79

ThenNowEffect
Revenue (last 12 months) $650m $1.0bn +55.5%
P/S multiple 3.7x 10.1x +176.3%
Share count 96m 114m −15.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
DOCN−68%+44%−7%+41%+87%
Industry peers (median)−81%+46%−17%−12%−30%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
DOCN25%67%42%67%73%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
DOCN−71%−60%−33%−45%−51%
S&P 500−25%−10%−8%−19%−9%

Worst fall since March 24, 2021: 85% from November 16, 2021 to November 1, 2023. Getting back needed a 557% gain, reached on May 5, 2026, 916 days after the low.

Price behaviour

52-week range
$38.82 – $181.29
From 52-week high
−50.5%
vs 50-day average
−24.7%
vs 200-day average
−19.6%
Volatility (1 year)
89%
Beta vs S&P 500
2.82

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±16.6%
After a week
6 up, 6 down
typical move ±14.0%
After a month
6 up, 6 down
typical move ±21.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −2.1% +1.6% −5.0% −17.5%
July 7, 2026 +6.9% −0.8% −3.9% −5.3%
May 5, 2026 +48.0% +2.2% +43.1% +65.9%
February 24, 2026 +0.1% +1.6% −6.5% +46.9%
November 5, 2025 +21.3% −0.7% +24.6% +24.4%
August 5, 2025 +35.0% +0.3% +11.3% +18.9%
May 6, 2025 −12.6% −0.4% −3.8% −15.2%
April 4, 2025 −9.9% −6.0% −11.5% −9.5%
February 25, 2025 +18.2% −0.4% +8.7% −1.3%
November 4, 2024 −12.2% +1.0% −3.5% −2.2%
August 8, 2024 +17.6% +2.8% +32.2% +40.4%
May 10, 2024 +15.6% +0.1% +13.6% +15.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Digitalocean Holdings, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Digitalocean Holdings, Inc.
$600M $800M $1B $1.2B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $692.9M Revenue (TTM), FY24 Q1: $712.5M Revenue (TTM), FY24 Q2: $735.1M Revenue (TTM), FY24 Q3: $756.6M Revenue (TTM), FY24 Q4: $780.6M Revenue (TTM), FY25 Q1: $806.6M Revenue (TTM), FY25 Q2: $832.8M Revenue (TTM), FY25 Q3: $864M Revenue (TTM), FY25 Q4: $901.4M Revenue (TTM), FY26 Q1: $948.6M Revenue (TTM), FY26 Q2: $1B Revenue (TTM), FY26 Q3: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $692.9M
FY24 Q1 $712.5M
FY24 Q2 $735.1M
FY24 Q3 $756.6M
FY24 Q4 $780.6M
FY25 Q1 $806.6M
FY25 Q2 $832.8M
FY25 Q3 $864M
FY25 Q4 $901.4M
FY26 Q1 $948.6M
FY26 Q2 $1B
FY26 Q3 $1.1B
Revenue growth, TTM YoY Digitalocean Holdings, Inc.
10% 15% 20% 25% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 20.2% Revenue growth, TTM YoY, FY24 Q1: 16.0% Revenue growth, TTM YoY, FY24 Q2: 13.1% Revenue growth, TTM YoY, FY24 Q3: 12.1% Revenue growth, TTM YoY, FY24 Q4: 12.7% Revenue growth, TTM YoY, FY25 Q1: 13.2% Revenue growth, TTM YoY, FY25 Q2: 13.3% Revenue growth, TTM YoY, FY25 Q3: 14.2% Revenue growth, TTM YoY, FY25 Q4: 15.5% Revenue growth, TTM YoY, FY26 Q1: 17.6% Revenue growth, TTM YoY, FY26 Q2: 21.4% Revenue growth, TTM YoY, FY26 Q3: 27.6% 27.6%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 20.2%
FY24 Q1 16.0%
FY24 Q2 13.1%
FY24 Q3 12.1%
FY24 Q4 12.7%
FY25 Q1 13.2%
FY25 Q2 13.3%
FY25 Q3 14.2%
FY25 Q4 15.5%
FY26 Q1 17.6%
FY26 Q2 21.4%
FY26 Q3 27.6%
Operating margin (TTM) Digitalocean Holdings, Inc.
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 1.7% Operating margin (TTM), FY24 Q1: 7.9% Operating margin (TTM), FY24 Q2: 10.9% Operating margin (TTM), FY24 Q3: 9.2% Operating margin (TTM), FY24 Q4: 11.7% Operating margin (TTM), FY25 Q1: 14.5% Operating margin (TTM), FY25 Q2: 15.7% Operating margin (TTM), FY25 Q3: 17.4% Operating margin (TTM), FY25 Q4: 17.4% Operating margin (TTM), FY26 Q1: 16.4% Operating margin (TTM), FY26 Q2: 14.8% Operating margin (TTM), FY26 Q3: 12.5% 12.5%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 1.7%
FY24 Q1 7.9%
FY24 Q2 10.9%
FY24 Q3 9.2%
FY24 Q4 11.7%
FY25 Q1 14.5%
FY25 Q2 15.7%
FY25 Q3 17.4%
FY25 Q4 17.4%
FY26 Q1 16.4%
FY26 Q2 14.8%
FY26 Q3 12.5%
FCF margin (TTM) Digitalocean Holdings, Inc.
5% 10% 15% 20% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 15.9% FCF margin (TTM), FY24 Q1: 16.9% FCF margin (TTM), FY24 Q2: 16.0% FCF margin (TTM), FY24 Q3: 13.1% FCF margin (TTM), FY24 Q4: 12.3% FCF margin (TTM), FY25 Q1: 9.3% FCF margin (TTM), FY25 Q2: 11.5% FCF margin (TTM), FY25 Q3: 19.3% FCF margin (TTM), FY25 Q4: 18.8% FCF margin (TTM), FY26 Q1: 18.1% FCF margin (TTM), FY26 Q2: 17.3% FCF margin (TTM), FY26 Q3: 20.0% 20.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 15.9%
FY24 Q1 16.9%
FY24 Q2 16.0%
FY24 Q3 13.1%
FY24 Q4 12.3%
FY25 Q1 9.3%
FY25 Q2 11.5%
FY25 Q3 19.3%
FY25 Q4 18.8%
FY26 Q1 18.1%
FY26 Q2 17.3%
FY26 Q3 20.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Digitalocean Holdings took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $901M
  2. Other income $102M · 11.3%
  3. Cost of revenue $362M · 40.1%
  4. Gross profit $540M · 59.9%
  5. Research and development $162M · 17.9%
  6. Selling, general and admin $221M · 24.5%
  7. Operating income $157M · 17.4%
  8. Net income $259M · 28.8%

Shares of revenue. Source: Digitalocean Holdings's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 255 318 429 576 693 781 901 1,103
Gross profit 133 173 258 364 397 466 540 603
EBITDA 33 60 77 77 130 221 294 332
Operating income −30 −16 −11 −26 12 91 157 138
Net income −40 −44 −20 −28 19 84 259 34
Diluted EPS −$1.06 −$1.05 −$0.21 −$0.28 $0.20 $0.89 $2.52 $0.29
Growth (year on year)
Revenue — +24.9% +34.6% +34.5% +20.2% +12.7% +15.5% +27.6%
EBITDA — +80.2% +29.1% −0.8% +69.5% +70.4% +33.2% +26.3%
Operating income — — — — — — +72.5% −8.6%
Net income — — — — — +335.3% +206.8% −86.4%
Diluted EPS — — — — — +345.0% +183.1% −88.2%
Margins
Gross margin 52.0% 54.3% 60.2% 63.2% 57.4% 59.7% 59.9% 54.7%
EBITDA margin 13.0% 18.8% 18.0% 13.3% 18.7% 28.3% 32.7% 30.1%
Operating margin −11.7% −5.0% −2.6% −4.5% 1.7% 11.7% 17.4% 12.5%
Net margin −15.9% −13.7% −4.6% −4.8% 2.8% 10.8% 28.8% 3.1%
Free-cash-flow margin −5.3% −12.5% 8.4% 15.4% 16.7% 13.4% 20.0% 22.1%
Cash flow
Cash from operations 40 58 133 195 235 283 310 375
Capital spending 54 98 97 106 119 178 129 131
Free cash flow −14 −40 36 89 116 105 181 244
Stock-based pay 19 29 62 106 88 91 80 111
Free cash flow after stock pay −32 −69 −26 −17 27 14 100 133
Balance sheet
Cash 36 100 1,713 141 317 428 254 666
Total debt 0 260 1,463 1,470 1,478 1,500 1,317 465
Net debt (negative = net cash) −36 159 −251 1,329 1,161 1,072 1,063 −201
Diluted shares 38m 42m 93m 101m 96m 95m 105m 117m
Returned to shareholders
Buybacks 0 0 350 600 488 60 82 0
Total returned 0 0 350 600 488 60 82 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · September 30, 2026
What it owns · $3.7bn
Short-term assets $1.1bnLonger-term assets $2.7bn
What it owes, and who funded it · $3.7bn
Short-term liabilities $927mLonger-term liabilities $1.4bnShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $927m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.1bn short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $666m of cash against $462m of debt.
  • Debt below 40% of shareholders' equity Debt is 33% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 343% to 33% over five years.
  • A year's operating cash flow covers at least 20% of debt $375m of operating cash flow against $462m of debt.
  • Operating profit covers interest at least five times over Operating income of $138m against $43m of interest.

From Digitalocean Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$630M
Diluted share count
+15.7%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
19.0%
of revenue
Days sales outstanding
46 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated DOCN GLBE MARA LZ VRSN FSLY Median
Revenue, last 12 months $1.1bn $962m $804m $792m $1.7bn $687m $242m
Revenue growth, last 12 months 27.6% 27.8% 0.7% 12.3% 6.5% 20.4% 8.3%
Revenue growth, 3-year average 17.8% — 66.6% 7.6% 5.3% 13.6% 7.6%
Revenue growth, latest quarter 39.9% — −26.7% 6.6% 5.7% 23.3% 5.5%
Gross margin 54.7% 45.3% −24.3% 66.7% 88.6% 61.5% 49.5%
Operating margin 12.5% 7.4% −366.3% 4.1% 67.6% −12.0% −56.0%
Operating margin, 3-year average 13.0% — −95.0% 4.2% 67.8% −24.9% −25.3%
Net margin 3.1% 7.1% −429.7% 2.1% 49.1% −11.8% −55.8%
Cash from operations / revenue 34.0% 29.5% −111.3% 22.1% 61.3% 17.4% −10.4%
Free-cash-flow margin 20.0% 29.2% −154.0% 18.9% 59.1% 7.4% −25.9%
Free-cash-flow margin, 3-year average 17.5% — −126.9% 16.2% 58.7% 3.4% −17.4%
Stock pay / revenue 10.1% 4.1% 18.1% 12.4% 4.4% 19.7% 11.9%
Change in share count 15.7% 5.2% 52.5% 1.8% −3.1% 7.1% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth 27.6% 10.1% 7 of 34
Change in growth rate Growth +6.2pp -0.6pp 7 of 34
Gross margin Profitability 54.7% 61.5% 11 of 16
Operating margin Profitability 12.5% -49.3% 3 of 33
Net margin Profitability 3.1% -47.1% 8 of 34
Free-cash-flow margin Cash generation 20.0% 16.2% 6 of 17
Stock pay as % of revenue Cash generation 10.1% 12.4% 14 of 32
Long-term debt as % of assets Balance sheet 4.0% 20.2% 6 of 25
Change in share count Balance sheet 15.7% 5.2% 20 of 26
Days sales outstanding Balance sheet 46 days 48 days 6 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$14.8B
Institutions reporting
563
Shares held vs prior quarter
▼ 2.3%
Positions opened / closed
182 / 66

Top buyers and sellers, Q2 2026: 326 institutions bought and 251 sold ; the biggest buyer was Jpmorgan Chase & Co (+9.2M shares) and the biggest seller Blackrock, Inc (−3.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Jpmorgan Chase & Co $2.1B 13.9M 14.0% ▲ 198.2%
Blackrock, Inc. $1.4B 8.8M 9.3% ▼ 26.6%
Vanguard Portfolio Management LLC $715M 4.6M 4.8% ▼ 23.6%
Hood River Capital Management LLC $660M 4.2M 4.4% ▲ 20.5%
Vanguard Capital Management LLC $587M 3.7M 4.0% ▲ 7.8%
Fuller & Thaler Asset Management, Inc. $413M 2.6M 2.8% ▲ 2.7%
State Street Corp $394M 2.5M 2.7% ▼ 13.2%
Two Sigma Investments, LP $296M 1.9M 2.0% ▲ 896.4%
Geode Capital Management, LLC $296M 1.9M 2.0% ▲ 1.0%
Price T Rowe Associates Inc $294M 1.9M 2.0% ▼ 24.0%
Citadel Advisors LLC $277M 1.8M 1.9% ▼ 22.8%
Goldman Sachs Group Inc $264M 1.7M 1.8% ▼ 0.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Digitalocean Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $574M 33 trades by 8 insiders · 2% under pre-set plans
Net ▼ $574M net selling
Insider Date Trade Shares Price Value
Srinivasan Padmanabhan T Chief Executive Officer September 21, 2026 Sell pre-set plan 11,394 $140.00 $1.6M
Srinivasan Padmanabhan T Chief Executive Officer September 3, 2026 Sell pre-set plan 5,697 $105.73 $602,344
Steinfort Matt Chief Financial Officer September 3, 2026 Sell pre-set plan 10,000 $105.73 $1.1M
Barrett Cherie SVP, Chief Accounting Officer September 3, 2026 Sell pre-set plan 3,985 $105.73 $421,334
Srinivasan Padmanabhan T Chief Executive Officer August 17, 2026 Sell pre-set plan 5,697 $129.11 $735,540
Barrett Cherie SVP, Chief Accounting Officer August 13, 2026 Sell pre-set plan 4,456 $132.37 $589,841
Adelman Warren J Director August 7, 2026 Sell 4,200 $124.01 $520,842
Steinfort Matt Chief Financial Officer June 2, 2026 Sell pre-set plan 10,000 $170.07 $1.7M
Jenson Warren Director May 19, 2026 Sell 20,000 $147.62 $3M
Schneider Hilary Director May 15, 2026 Sell 4,338 $156.38 $678,376
Steinfort Matt Chief Financial Officer May 15, 2026 Sell 25,000 $152.50 $3.8M
Blavatnik Len 10% owner May 13, 2026 Sell 21,012 $150.30 $3.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 4, 2026
  • July 7, 2026
  • May 5, 2026
  • February 24, 2026
  • November 5, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Digitalocean Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Digitalocean Holdings, Inc. in brief

What does Digitalocean Holdings, Inc. do?
Digitalocean Holdings, Inc. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in December.
What is Digitalocean Holdings, Inc.'s stock ticker?
Digitalocean Holdings, Inc. trades under the ticker DOCN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Digitalocean Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Digitalocean Holdings, Inc. reported revenue of $1.1B, 27.6% higher than a year earlier, according to its SEC filings.
What is Digitalocean Holdings, Inc.'s free cash flow?
Digitalocean Holdings, Inc.'s free-cash-flow margin is 20.0% of revenue over the trailing twelve months, ranking 6 of the 17 internet services & infrastructure companies we cover.
Who are Digitalocean Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Jpmorgan Chase & Co, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Digitalocean Holdings, Inc. buying back stock, and does it pay a dividend?
Digitalocean Holdings, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 15.7% over the year.
What is Digitalocean Holdings, Inc.'s market cap?
On November 2, 2026, Digitalocean Holdings, Inc.'s market capitalisation was about $10.5B, with a price-to-earnings ratio of 305.4 and net debt of -$201M. Market figures come from third-party market data and may be delayed.
How much debt does Digitalocean Holdings, Inc. have?
Digitalocean Holdings, Inc.'s debt-to-equity ratio is 32.6%, from its latest balance sheet (342.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Digitalocean Holdings, Inc.'s competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Digitalocean Holdings, Inc. are Global-e Online Ltd., Mara Holdings, Inc., Legalzoom.com, Inc., Verisign Inc and Fastly, Inc. The side-by-side comparison below sets their revenue, margins and growth against Digitalocean Holdings, Inc.'s.
Are insiders buying or selling Digitalocean Holdings, Inc. stock?
Over the last 12 months, Digitalocean Holdings, Inc.'s directors and officers reported 0 open-market purchases and 33 sales on Form 4. The insider trading page charts every trade.
When is Digitalocean Holdings, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Digitalocean Holdings, Inc. announces its own schedule.