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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1680
Positioning
Market Dominance
Services
Computer Software
$1.4B
Claudio Erba
Docebo Inc. provides a cloud-based learning management system to train internal and external workforces, partners, and customers in North America, Europe, and the Asia-Pacific region. Its platform helps customers to centralize learning materials from peer enterprises and learners into one LMS.
Headcount
730
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = DCBO ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$YALA Yalla Group Ltd | 75 | 89 | 99 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$GRVY GRAVITY Co., Ltd. | 75 | 82 | 96 | 71 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ISSC INNOVATIVE SOLUTIONS & SUPPORT INC | 73 | 81 | 88 | 94 | 25.0x | 14.1x | 17.1% | 10.3% | 35.5% | 14.6% | 10.1% | 105.2% | 0.0% | 41.0x | $244M | VS | |
$AER AerCap Holdings N.V. | 72 | 60 | 87 | 84 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$HCSG HEALTHCARE SERVICES GROUP INC | 72 | 74 | 88 | 88 | 7.1x | 6.1x | 28.9% | 20.8% | 20.8% | 9.9% | 9.3% | 8.5% | 0.0% | 1.0x | $1.2B | VS | |
$LQDT LIQUIDITY SERVICES INC | 72 | 90 | 88 | 68 | 24.9x | 14.3x | 14.1% | 8.3% | 45.7% | 8.5% | 6.2% | 28.1% | 0.0% | 0.0x | $736M | VS | |
$TRTNpA Triton International Ltd | 71 | 70 | 89 | 70 | - | 1.7x | 0.0% | - | 97.4% | 58.0% | 37.4% | - | 8.8% | 264.0x | $2.5B | VS | |
$EDU New Oriental Education & Technology Group Inc. | 71 | 83 | 52 | 77 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$NTES NetEase, Inc. | 71 | 88 | 93 | 68 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$UTI UNIVERSAL TECHNICAL INSTITUTE INC | 70 | 86 | 86 | 72 | 43.2x | 16.0x | 15.3% | 5.8% | 100.0% | 6.9% | 5.2% | 15.1% | 0.0% | 24.0x | $1.8B | VS | |
$DCBO Docebo Inc. | 52 | 71 | 70 | 21 | 18.7x | 4.1x | 185.2% | 56.1% | 81.0% | 9.8% | 12.3% | 20.0% | 0.0% | 0.0x | $1.4B | ||
| SECTOR BENCH | - | - | - | - | - | 23.7x | 11.7x | 5.7% | 2.4% | 64.6% | 4.5% | 2.8% | 8.6% | 0.0% | 0.3x | - | REF |
Docebo Inc. (DCBO) receives a "Hold" rating with a composite score of 52.1/100. It ranks #1680 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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HQ Base
Pending Verification
Lagging peers — losers tend to keep underperforming
Trading at a discount to fundamentals — favorable entry valuation
High profitability & efficiency — strong quality floor supports entry
Average volatility — neutral timing signal
Moderate investment profile
Mid-range overall rating
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Relative valuation derived from Services sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for DCBO.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 71 | 87 | -16DRAG |
| MOMENTUM | 21 | 15 | +6ALPHA |
| VALUATION | 70 | 80 | -10DRAG |
| INVESTMENT | 50 | 87 | -37DRAG |
| STABILITY | 56 | 60 | -4NEUTRAL |
| SHORT INT | 72 | 86 | -14DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy 185.2% (sector 5.7%)
GM 81% vs sector 65%, OM 10% vs sector 5%
Capital turnover N/A, R&D intensity 20.2%
Rev growth 20%, 5yr history
Interest coverage N/A, Net debt/EBITDA -3.7x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Docebo Inc. (DCBO) as a Hold with a composite score of 52.1/100 at a current price of $16.35. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
Docebo Inc. holds a top-quartile position (#0 of 50) within the Services sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 52.1/100 places it at rank #1680 in our full universe.
Narrow
Medium
Exemplary
Undervalued
Gross margins of 81% signal strong pricing power.
Returns on equity of 185.2% exceed cost of capital.
Value factor score of 70 suggests attractive pricing.
Weak momentum suggests persistent institutional selling pressure.
Vulnerability to macroeconomic shocks and interest rate volatility.
Docebo Inc. represents a hold based on multi-factor quantitative performance.
Our model assigns Docebo Inc. a Hold rating, with a composite score of 52.1/100 and 3 out of 5 stars. Ranked #1680 of 7,333 stocks, DCBO presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
DCBO earns a quality score of 71/100, indicating above-average business quality. The company reports a return on equity of 185.2% (sector avg: 5.7%), gross margins of 81.0% (sector avg: 64.6%), net margins of 12.3% (sector avg: 2.8%). Companies in this tier generally demonstrate consistent profitability and efficient capital deployment, though they may face some competitive pressure.
DCBO carries a solid value score of 70/100, pointing to an attractively priced stock relative to peers. Key valuation metrics include a P/E ratio of 18.73x, an EV/EBITDA of 4.06x, a P/B ratio of 8.53x. This score suggests reasonable compensation for the risks involved, with potential upside if the market recognizes the stock's underlying worth.
With an investment score of 50/100, DCBO exhibits moderate growth-oriented spending. Key growth metrics include revenue growth of 20.0% vs. a sector average of 8.6% and a return on assets of 56.1% (sector: 2.4%). The company appears to be balancing growth investments with capital returns, though the pace of investment may not be enough to accelerate top-line growth meaningfully.
Docebo Inc. is experiencing notably weak momentum with a score of just 21/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at 20.0% year-over-year, while a beta of 1.41 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
With a stability score of 56/100, DCBO exhibits average financial resilience. Key stability metrics include a beta of 1.41 and a debt-to-equity ratio of 0.00x (sector avg: 0.3x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
DCBO carries a short interest score of 72/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include above-average market sensitivity (beta: 1.41), small-cap liquidity risk. At $1.4B market cap (small-cap), Docebo Inc. offers reasonable institutional liquidity.
Docebo Inc. is a small-cap company in the Services sector, ranked #0 of 50 in its sector (100th percentile) and #1680 of 7,333 overall (77th percentile). Key comparisons include ROE of 185.2% exceeding the 5.7% sector median and operating margins of 9.8% above the 4.5% sector average. This top-quartile standing reflects exceptional competitive strength relative to Services peers.
While DCBO currently exhibits a HOLD profile, superior opportunities exist within the SERVICES sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Services Alpha →Quant Factor Profile
Key factor gap
Short Int. (72) vs Momentum (21) — closing this gap could shift the rating.
EV/EBITDA 65% BELOW SECTOR MEDIAN (FAVORABLE)
ROE 3126% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 25% ABOVE SECTOR MEDIAN (FAVORABLE)
Above 50MA
37.18%
Net New Highs
+51081
We recently published an article titled 9 High Growth Canadian Stocks to Buy. Another high-growth Canadian stock to buy, Docebo Inc. (NASDAQ:DCBO) is an education technology company established in 2005. The company is known for Docebo Learn, its core learning management system offering. Docebo lists its shares on both the Toronto Stock Exchange and the […]
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The article discusses two companies, UiPath and Docebo, that have compelling growth prospects and reasonable valuations. UiPath is the leader in robotic process automation, while Docebo specializes in corporate learning software. Both companies are well-positioned to benefit from the growth of their respective markets and the potential of generative AI.
The average brokerage recommendation (ABR) for Docebo (DCBO) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?