DCBO

Docebo Inc.

Technology · $577M market cap

Verdict

Share price

$23.33

close of Oct 3, 2026

Fair value

$29.18

Sticker Price

Payback Price

$11.67

buy price

Undervalued

DCBO is Undervalued: at $23.33 it trades 20% below its fair value of $29.18. Its buy price (Payback Price) is $11.67, 50% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth78.0% a year✓
Equity per share growth-21.1% a year✗
Sales growth38.2% a year✓
Free cash flow growth55.6% a year✓
Return on invested capital18.5%✓

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About Docebo Inc.

Docebo Inc. develops and provides learning management platform for training in Canada, the United States, and internationally. The company’s cloud platform consists of a learning suite, which includes Docebo Learn platform, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Content Marketplace, an access to off-the-shelf learning content and provide…

Software - Application

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works