Is the business good?
How good a business is DV?
DoubleVerify Holdings, Inc. earns 7.7% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
7.7%
Return on invested capital · cost of capital 9.0% · 1.3 points below what the capital costs: growth destroys value
- Operating margin
- 12%
Operating margin · Advertising Agencies median 11% · 12 months to Q1 2026
- Cash conversion
- 2.47×
Cash conversion · 2.69× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −2.9%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 8.8% |
| FY2021 | 8.0% |
| FY2022 | 13% |
| FY2023 | 15% |
| FY2024 | 13% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q1 2026
- 82%
- Operating margin12 months to Q1 2026
- 12%
- Net margin12 months to Q1 2026
- 7.2%
- Free cash flow margin
- 18%
- R&D as % of revenue
- 23%
- Revenue, trailing twelve months
- $764M
- Free cash flow, trailing twelve months
- $135M
- Net income, trailing twelve months
- $55M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Advertising Agencies
Ranks #6 of 9 by Smart Score