Stock fact sheet · data as of
Docebo Inc. (DCBO): fair value, margin of safety and Wheel Score
Ticker symbol DCBO · Technology · Software - Application · Canada · Growth
Is DCBO undervalued?
Docebo Inc. (DCBO) closed at 30.89 on 5 Nov 2026. The GLS average fair value - the simple average of the 7 valuation models that produced a positive number - is 42.57, so the price sits 27% below it. 4 of the 7 models value the shares above the current price. A margin of safety between 10% and 30% is where most of the Sunday Scan candidates come from.
The 7 models disagree widely: EPV gives 14.67 while GLS Growth gives 80.81. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, DCBO is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 42, growth score 75, out of 100).
Nine valuation models for DCBO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 40.21 | +30% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | 64.63 | +109% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 27.44 | -11% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 80.81 | +162% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 16.72 | -46% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 53.53 | +73% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 14.67 | -53% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.3710 | -99% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 36.64 | +19% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - DCBO passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 5.3 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are high - ROIC 47.8%, ROE 50.7%, ROA 18.2% - with debt at 0.06 times equity and a free-cash-flow yield of 4.5%.
Docebo Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Subscription Revenue 93%, Professional Services Revenue 7% (quarter Q3 FY2022).
Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 47.8% |
|---|---|---|---|
| GLS Moat | 5.3 / 10 | ROE | 50.7% |
| Debt / equity | 0.06 | ROA | 18.2% |
| Free-cash-flow yield | 4.5% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 45: Weak
DCBO scores 45 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (412 open interest, 24 a day); and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 8, big enough - market cap $771M (under $1.0B), and the parts are thin too - value strong, premium strong, moat fair, health fair, red flags good, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 62% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. Chain open interest is thin - 412 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 32k shares a day on a market cap of $771M, with a beta of 0.81; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (412 open interest, 24 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $771M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 27% below fair value | |
| Premium | Strong | implied volatility 62% | |
| Moat | Fair | moat 5.3/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Good | Red Flags score 85/100 | |
| Option trading | Weak | 24 contracts a day, 412 open interest | |
| Stability | Fair | beta 0.81, $771M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Docebo Inc. reports earnings on 6 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Application
The 12 companies below are the closest to Docebo Inc. by market cap within the Software - Application industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SMWB Similarweb Ltd. | 8.81 | 7.70 | -14% | 27Weak | $772M |
| MNTN MNTN, Inc Class A | 10.37 | 25.02 | +59% | 33Weak | $776M |
| PAR PAR Technology Corporation | 19.00 | - | - | 25Weak | $786M |
| PUBM PubMatic, Inc. | 16.36 | 18.75 | +13% | 35Weak | $745M |
| HKD AMTD Digital Inc. | 1.49 | 1.49 | -0% | 14No options | $712M |
| VTEX Vtex | 4.19 | 5.90 | +29% | 43Weak | $705M |
| YALA Yalla Group Limited | 5.64 | 16.39 | +66% | 46Weak | $856M |
| MITK Mitek Systems, Inc. | 19.09 | 19.51 | +2% | 39Weak | $861M |
| BKSY BlackSky Technology Inc. | 16.77 | - | - | 15Weak | $686M |
| DSP Viant Technology Inc. | 13.14 | 24.24 | +46% | 41Weak | $874M |
| SPT Sprout Social, Inc. | 10.78 | 19.06 | +43% | 45Weak | $653M |
| DJCO Daily Journal Corporation | 662.97 | 346.86 | -91% | 16No options | $914M |
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Start free See the Sunday ScanQuestions about DCBO
Is DCBO undervalued right now?
By the GLS models, moderately: at 30.89 the stock trades 27% below the average fair value of 42.57 (data as of 5 Nov 2026).
What is the Wheel Score of DCBO and what does it mean?
DCBO scores 45 out of 100 (Weak) - it fails Wheel Trade Filters 1, 4, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for DCBO?
42.57 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Docebo Inc. report earnings next?
The next earnings report is due on 6 Nov 2026 (before the open), 1 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does DCBO have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 412 open interest across all expiries and implied volatility of 62% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.