What is Doximity, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Doximity, Inc.'s reported free cash flow gives $55.29 per share. The share price was $32.42 on November 10, 2026, 41% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $34.02 | +5% |
| Base | 15.0% | 9.0% | $55.29 | +71% |
| Bull | 20.0% | 8.0% | $94.88 | +193% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $71.38 | $76.40 | $82.54 | $90.21 | $100.07 |
| 8.0% | $59.29 | $62.55 | $66.39 | $71.01 | $76.65 |
| 9.0% | $50.49 | $52.72 | $55.29 | $58.28 | $61.82 |
| 10.0% | $43.82 | $45.40 | $47.20 | $49.25 | $51.61 |
| 11.0% | $38.60 | $39.76 | $41.06 | $42.52 | $44.17 |
Where the presets come from
Base: years 1 to 5 grow at Doximity, Inc.'s revenue growth rate over the last 4 fiscal years (32.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions