VERISIGN INC/CA
$313.02
+0.54 (+0.17%) · delayed · Nov 13, 2026
Five-year price
52w $208.86 to $324.63
- Market cap
- $28.1B
- Enterprise value
- $27.8B
- P/E
- 34.0×
- EV / EBIT
- 24.8×
- FCF yield
- 3.8%
- ROIC
- —
- Debt / equity
- —
- Piotroski F
- 8/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- –ROE > 15% (5y avg)5y avg ROE n/a
- ●Stable operating marginsMargin volatility 1.0% (σ, 5y)
- ●Earnings convert to cashFCF / net income 111% (5y avg)
- ●Growing revenueRevenue CAGR 5y 5.5%
- ●Shrinking share countDiluted shares -18.6% over 5y
Value
0
- ○P/E below 15P/E 34.0
- ○EV/EBIT below 12EV/EBIT 24.8
- ○FCF yield above 6%FCF yield 3.8%
- –Price below Graham NumberGraham Number n/a
- –P/B below 3P/B n/a
Safety
75
- –Debt / equity below 0.5D/E n/a
- ●Debt payable in < 4 yrs of earningsNet debt $-0.3B
- ●Interest coverage > 8xCoverage 14.6x
- ○Current ratio > 1.5Current ratio 0.49
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
25
- ○Adequate size (revenue > $2B)Revenue $1.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 0.49
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)n/a
- –Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) n/a
- –P/E × P/B ≤ 22.5Product n/a
Valuation lab
What do you have to believe?
At $313.02, the market is pricing in about 9.1% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$308M · 90M shares · 5y revenue CAGR 5.5%
Intrinsic value
$247.98
Price
$313.02
Premium paid
26%
What the price implies
The market is paying for 9.1% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
58% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,142 | 1,165 | 1,215 | 1,232 | 1,265 | 1,328 | 1,425 | 1,493 | 1,557 | 1,657 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 687 | 708 | 767 | 806 | 824 | 867 | 943 | 1,001 | 1,058 | 1,121 |
| Operating margin | 60.1% | 60.7% | 63.2% | 65.5% | 65.1% | 65.3% | 66.2% | 67.0% | 67.9% | 67.7% |
| Pre-tax income | 581 | 599 | 730 | 759 | 750 | 782 | 880 | 977 | 1,022 | 1,069 |
| Income tax | 141 | 142 | 147 | 146 | (65) | (3) | 206 | 159 | 236 | 243 |
| Net income | 441 | 457 | 582 | 612 | 815 | 785 | 674 | 818 | 786 | 826 |
| EPS (diluted) | 3.42 | 3.68 | 4.75 | 5.15 | 7.07 | 7.00 | 6.24 | — | — | — |
| Diluted shares | 129 | 124 | 123 | 119 | 115 | 112 | 108 | 104 | 98 | 94 |
Who owns it