DocuSign Inc (DOCU)

Debt-to-equity ratio

		Jan 31, 2025	Jan 31, 2024	Jan 31, 2023	Jan 31, 2022	Jan 31, 2021
Long-term debt	US$ in thousands	—	—	0	718,487	693,219
Total stockholders’ equity	US$ in thousands	2,002,690	1,129,740	617,287	275,503	325,737
Debt-to-equity ratio		0.00	0.00	0.00	2.61	2.13

January 31, 2025 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $2,002,690K
= 0.00

The debt-to-equity ratio of DocuSign Inc has shown fluctuations over the years. As of January 31, 2021, the ratio was 2.13, indicating that the company had more debt than equity. By January 31, 2022, the ratio increased to 2.61, suggesting a further increase in leverage. However, the ratio dramatically dropped to 0.00 by January 31, 2023, and has remained at 0.00 in the subsequent years. This significant decrease indicates that the company either reduced its debt levels or significantly increased its equity, resulting in a stronger financial position with lower reliance on debt financing. Overall, the trend in the debt-to-equity ratio suggests that DocuSign Inc has taken steps to improve its capital structure and financial stability over the years.