Doximity, Inc. (DOCS)

Services-Computer Programming Services

Latest Price

$33.24

TTM P/E

39.57

Normalized P/E

40.38

TTM Div Yield

Fwd Div Yield

Book Value

5.02

P/B Ratio

6.62

Valuation metrics

EPS: $0.98

Book value / share: $5.19

Formula: √(22.5 × EPS × BVPS)

Graham Number

$10.70

68% downside

Norm. op. income: $164M (median of 5yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$8.55

74% downside

Base FCF: $184M (median of recent 5yr)

Growth: 22%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$62.42

+88% upside

EPS: $0.98

Target P/E: 40×

Formula: EPS × P/E

P/E Fair Value

$39.20

+18% upside

71.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	14.31M	$296.0M	7.96%	+50.6K	2026-06-30
Vanguard Portfolio Management LLC	6.39M	$132.0M	3.55%	-7.0K	2026-06-30
Vanguard Capital Management LLC	5.98M	$123.0M	3.32%	+212.4K	2026-06-30
D. E. Shaw & Co., Inc.	5.92M	$122.0M	3.29%	+3.02M	2026-06-30
Two Sigma Investments, LP	4.65M	$96.0M	2.58%	--	2026-06-30
State Street Corp	4.21M	$87.0M	2.34%	+171.4K	2026-06-30
Goldman Sachs Group Inc	4.09M	$84.0M	2.27%	+2.32M	2026-06-30
Geode Capital Management, LLC	3.85M	$79.0M	2.14%	-95.3K	2026-06-30
Wellington Management Group LLP	3.14M	$65.0M	1.74%	+621.5K	2026-06-30
Deutsche Bank AG\	2.89M	$60.0M	1.61%	-29.2K	2026-06-30