DocuSign Inc (DOCU)

Operating return on assets (Operating ROA)

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020
Operating income (ttm)	US$ in thousands	199,928	149,394	110,102	58,913	31,634	21,415	-25,754	-73,456	-88,031	-112,925	-88,852	-70,373	-61,884	-61,603	-106,715	-142,739	-173,855	-191,311	-186,838	-192,925
Total assets	US$ in thousands	4,012,700	3,770,210	3,753,940	2,926,690	2,971,290	3,337,630	3,267,400	3,129,900	3,012,720	2,731,580	2,667,350	2,574,130	2,541,260	2,410,500	2,355,690	2,297,120	2,336,510	2,051,120	2,053,310	1,921,490
Operating ROA		4.98%	3.96%	2.93%	2.01%	1.06%	0.64%	-0.79%	-2.35%	-2.92%	-4.13%	-3.33%	-2.73%	-2.44%	-2.56%	-4.53%	-6.21%	-7.44%	-9.33%	-9.10%	-10.04%

January 31, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $199,928K ÷ $4,012,700K
= 4.98%

DocuSign Inc's operating return on assets (operating ROA) has shown a declining trend in the past few periods, with negative values reported from April 2020 to January 2023. The company's operating ROA improved slightly in the subsequent periods, turning positive as of October 2023.

From that point onwards, DocuSign's operating ROA showed a consistent upward trajectory, indicating an improvement in the company's ability to generate operating income relative to its total assets. The positive trend continued through January 2025, with the operating ROA reaching 4.98%.

This positive trend in operating ROA suggests that DocuSign has been more efficient in utilizing its assets to generate operating profits over time. It indicates that the company's operational performance has improved, potentially reflecting better cost management, higher revenue generation, or a combination of both that has positively impacted profitability relative to its asset base.