PATH vs. DOCU

Last updated Apr 1, 2026

Compare and contrast key facts about UiPath Inc. (PATH) and DocuSign, Inc. (DOCU).

Performance

PATH vs. DOCU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UiPath Inc. (PATH) and DocuSign, Inc. (DOCU). The values are adjusted to include any dividend payments, if applicable.

PATH vs. DOCU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PATH UiPath Inc.	-32.28%	28.95%	-48.83%	95.44%	-70.53%	-37.49%
DOCU DocuSign, Inc.	-30.69%	-23.95%	51.29%	7.27%	-63.61%	-30.57%

Fundamentals

Market Cap PATH : $6.05B DOCU : $9.70B
EPS PATH : $0.52 DOCU : $1.47
PE Ratio PATH : 21.44 DOCU : 32.21
PS Ratio PATH : 3.76 DOCU : 3.09
PB Ratio PATH : 2.91 DOCU : 5.06
Total Revenue (TTM) PATH : $1.61B DOCU : $3.22B
Gross Profit (TTM) PATH : $1.34B DOCU : $2.56B
EBITDA (TTM) PATH : $69.40M DOCU : $562.16M

Returns By Period

The year-to-date returns for both investments are quite close, with PATH having a -32.28% return and DOCU slightly higher at -30.69%.

PATH

• 1D: 2.12%
• 1M: 3.45%
• YTD: -32.28%
• 6M: -17.04%
• 1Y: 7.77%
• 3Y*: -14.18%
• 5Y*: —
• 10Y*: —

DOCU

• 1D: 0.32%
• 1M: 5.19%
• YTD: -30.69%
• 6M: -34.23%
• 1Y: -41.76%
• 3Y*: -6.66%
• 5Y*: -25.48%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

PATH vs. DOCU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PATH

PATH Risk / Return Rank: 46
PATH Sharpe Ratio Rank: 46
PATH Sortino Ratio Rank: 48
PATH Omega Ratio Rank: 46
PATH Calmar Ratio Rank: 44
PATH Martin Ratio Rank: 45

DOCU

DOCU Risk / Return Rank: 10
DOCU Sharpe Ratio Rank: 7
DOCU Sortino Ratio Rank: 11
DOCU Omega Ratio Rank: 10
DOCU Calmar Ratio Rank: 14
DOCU Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PATH vs. DOCU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UiPath Inc. (PATH) and DocuSign, Inc. (DOCU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PATH	DOCU	Difference
Sharpe ratio Return per unit of total volatility	0.13	-0.86	+0.99
Sortino ratio Return per unit of downside risk	0.69	-1.07	+1.76
Omega ratio Gain probability vs. loss probability	1.08	0.86	+0.23
Calmar ratio Return relative to maximum drawdown	0.08	-0.77	+0.85
Martin ratio Return relative to average drawdown	0.19	-1.51	+1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PATH vs. DOCU - Sharpe Ratio Comparison

The current PATH Sharpe Ratio is 0.13, which is higher than the DOCU Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of PATH and DOCU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PATH	DOCU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	-0.86	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.04	-0.52

Correlation

The correlation between PATH and DOCU is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PATH vs. DOCU - Dividend Comparison

Neither PATH nor DOCU has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

PATH vs. DOCU - Drawdown Comparison

The maximum PATH drawdown since its inception was -88.50%, roughly equal to the maximum DOCU drawdown of -87.57%. Use the drawdown chart below to compare losses from any high point for PATH and DOCU.

Drawdown Indicators

	PATH	DOCU	Difference
Max Drawdown Largest peak-to-trough decline	-88.50%	-87.57%	-0.93%
Max Drawdown (1Y) Largest decline over 1 year	-48.47%	-55.51%	+7.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-87.57%	—
Current Drawdown Current decline from peak	-86.96%	-84.71%	-2.25%
Average Drawdown Average peak-to-trough decline	-73.23%	-49.04%	-24.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.69%	28.50%	-7.81%

Volatility

PATH vs. DOCU - Volatility Comparison

UiPath Inc. (PATH) has a higher volatility of 17.78% compared to DocuSign, Inc. (DOCU) at 11.16%. This indicates that PATH's price experiences larger fluctuations and is considered to be riskier than DOCU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PATH	DOCU	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.78%	11.16%	+6.62%
Volatility (6M) Calculated over the trailing 6-month period	52.49%	33.95%	+18.54%
Volatility (1Y) Calculated over the trailing 1-year period	61.53%	48.66%	+12.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.38%	58.13%	+6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.38%	56.59%	+7.79%

Financials

PATH vs. DOCU - Profitability Comparison

The chart below illustrates the profitability comparison between UiPath Inc. and DocuSign, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PATH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, UiPath Inc. reported a gross profit of 407.17M and revenue of 481.11M. Therefore, the gross margin over that period was 84.6%.

DOCU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, DocuSign, Inc. reported a gross profit of 667.08M and revenue of 836.86M. Therefore, the gross margin over that period was 79.7%.

PATH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, UiPath Inc. reported an operating income of 80.29M and revenue of 481.11M, resulting in an operating margin of 16.7%.

DOCU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, DocuSign, Inc. reported an operating income of 87.74M and revenue of 836.86M, resulting in an operating margin of 10.5%.

PATH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, UiPath Inc. reported a net income of 104.46M and revenue of 481.11M, resulting in a net margin of 21.7%.

DOCU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, DocuSign, Inc. reported a net income of 90.30M and revenue of 836.86M, resulting in a net margin of 10.8%.