Is the business good?
How good a business is DOCS?
Doximity, Inc. earns 23% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
23%
Return on invested capital · cost of capital 9.0% · 14 points above what the capital costs: growth creates value
- Operating margin
- 33%
Operating margin · Health Information Services median 2.3% · 12 months to Q4 2026
- R&D as % of revenue
- 20%
R&D as % of revenue
- Gross margin
- 89%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | 26% |
| FY2022 | 33% |
| FY2023 | 30% |
| FY2024 | 34% |
| FY2025 | 40% |
| FY2026 | 33% |
Details›
- Gross margin12 months to Q4 2026
- 89%
- Operating margin12 months to Q4 2026
- 33%
- Net margin12 months to Q4 2026
- 30%
- R&D as % of revenue
- 20%
- Revenue, trailing twelve months
- $645M
- Net income, trailing twelve months
- $196M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 23%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Health Information Services
Ranks #8 of 14 by Smart Score