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VeriSign, Inc. (VRSN)

Valor Justo
TechnologySoftware - InfrastructureUnited States

Fundamental

66

Preço

$286.86

Capitalização de Mercado

$26.39B

Parte 1 · Quanto vale a empresa

Visão Geral

VeriSign runs the master directories for the .com and .net internet domains — the technical backbone that turns a typed web address into the right server, for every .com and .net site in the world. It does not sell domain names to the public: registrars such as GoDaddy do that and pay VeriSign a set fee per registration or renewal, under a long-term contract with ICANN and, for .com specifically, a cooperative agreement with the U.S. government.

Como gera receita

Substantially all revenue is the per-domain fee VeriSign charges registrars for .com and .net registrations and renewals, a price largely fixed by its agreements rather than set freely in a competitive market. Because the infrastructure is already built and each renewal is close to pure profit, revenue grows mainly with the number of registered domains and with the contractually permitted price increases, not with any product cycle.

Vantagem competitiva

Patentes e licenças · Ampla

VeriSign's business rests on an exclusive, government-backed right to operate the .com registry, renewed on multi-year terms with ICANN and the U.S. Department of Commerce. No competitor can simply build a rival .com registry; the moat is a legal and contractual monopoly rather than a technical or brand advantage, and it comes with a largely predetermined pricing formula.

O que impulsiona a procura

Defensivo

Domain renewals behave like an annuity: a business rarely lets its main .com address lapse regardless of the economic cycle, since the cost is small and the disruption of losing it is large. New registrations can slow in a weak economy, but the installed base of renewals provides a stable floor.

Principais riscos

  • Dependence on the ICANN and U.S. government agreements — Nearly the entire business rests on the .com and .net registry agreements; loss of the right to renew them, or materially worse terms, would be devastating and is outside VeriSign's control.
  • Cyberattacks on core infrastructure — VeriSign's servers are a high-value target for sophisticated attacks and denial-of-service events, and the company notes that AI-based tools are making such attacks more capable.
  • Changing ways people find things online — Social media, e-commerce platforms and AI-driven search could reduce how much people and businesses rely on typing a domain name at all, a slow but structural risk to demand.
  • Regulatory and geopolitical exposure — The company operates under evolving internet-governance policy, data-protection rules in multiple jurisdictions, and licensing requirements in markets such as China, any of which could raise costs or restrict operations.

Os argumentos a favor

Buyers argue that a contractually protected monopoly on the internet's default domain, with pricing increases already built into its agreements and renewal rates that barely move with the economy, is one of the closest things to an annuity available in public markets.

Os argumentos contra

Sellers fear that the entire business depends on government-granted agreements it does not control, that AI-driven and social-platform-driven ways of finding things online are slowly eroding the need to type a domain name, and that the pricing formula itself could be renegotiated less favorably at a future renewal.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balanço & Liquidez

Receita

$1.71B

Últimos 12 meses (até 30/06/2026)

Resultado Líquido

$850M

Últimos 12 meses (até 30/06/2026)

Fluxo de Caixa Livre

$1.07B

Capital Próprio Total

$-2.15B

Passivo Total

$3.48B

Rácio de Liquidez

0.59

Cobertura de Juros

15.27

Dívida/EBITDA

2.03

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Quanto pesa a dívida

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

Caso geralJustamente Valorizada

Valor Justo

$255.93

Preço Atual

$286.86

Margem de Segurança

-12.1%

Intervalo de Valor Justo

$191.06 - $320.81

Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.

Métodos de Estimativa

Preço-alvo dos analistas:$324.40
Fluxo de caixa descontado (DCF):$239.49
Multiplicador de lucros (P/E):$263.53
Fórmula de crescimento de Graham:$141.67
Valor da capacidade de gerar lucro (EPV):$122.85
P/B justificado:$102.38
Desconto de dividendos (Gordon):$57.28
P/FFO, fundos de operações:$151.83
Lucros de meio de ciclo:$277.90
Multiplicador sobre as receitas:$92.25
Consenso dos Analistas:Compra Forte (8B / 3H / 1S)
Última Surpresa de Resultados:-1.45%

Métricas de Avaliação

Rácio P/E

31.12

ROE

-38.3%

Rácio P/B

-

P/FCF

24.30

Margem Bruta

88.5%

ROIC

-950.8%

Radar de Rentabilidade

Criação de Valor (Vantagem Competitiva)

ROIC

-950.8%

WACC

7.7%

ROIC − WACC

-958.5 pp

O ROIC está abaixo do custo do capital — a empresa está a destruir valor a cada dólar investido.

Critérios de Análise Fundamental

Aprovado (17)

  • EPS shows upward trend
  • Price CAGR 14.45%
  • Gross Margin 88.5%
  • P/FCF 24.30
  • Operating Margin 67.9%
  • Positive Free Cash Flow
  • CapEx intensity
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • ROE 113.5%
  • Revenue Growth 5Y 5.5%
  • Analyst Consensus 67% Buy
  • Earnings Quality (OCF/NI) 1.30
  • Share Dilution -4.6%
  • Piotroski F-Score 8/9

Reprovado (6)

  • ROIC -950.8%
  • Current Ratio
  • DCF valuation (Overvalued)
  • Earnings Surprise avg -1.2%
  • PEG Ratio 7.12
  • Net Margin Trend 49.8% vs 50.0%

Indisponível (4)

  • P/B Ratio NaN
  • Dividend Payout NaN%
  • Debt/Equity ratio
  • Price below Graham Number

Piotroski F-Score

8/9

Saúde financeira sólida

score
criteria

Qualidade dos Resultados

1.30

Alta qualidade: resultados respaldados por caixa

Diluição de Ações

-4.6%

A recomprar ações. Favorável ao acionista

Participações institucionais

Governação

Equipa Executiva

NomeCargoIdade
Mr. D. James BidzosExecutive Chairman, CEO & President70
Mr. John D. CalysExecutive VP & CFO66
Mr. Thomas C. Indelicarto J.D.Executive VP, General Counsel & Secretary61
Mr. Danny R. McPhersonExecutive VP of Technology & Chief Security Officer-
Dr. Burt Kaliski Jr.Senior VP & CTO-
Mr. David Atchley CFAVP, Treasury & Investor Relations53
Mr. Ebrahim KeshavarzSenior Vice President of Marketing, Product & Channel Management-
Ms. Ellen PetrocciSenior VP of Human Resources & Chief Human Resources Officer-
Mr. Patrick S. KaneSenior Vice President of Naming & Registry Services63
Mr. Scott T. SchnellSenior VP & Executive Strategic Advisor67

Risco de Auditoria

4

Risco do Conselho

7

Risco de Remuneração

4

Risco dos Direitos dos Acionistas

1

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Documentos

  • Relatório anual (10-K)

    Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.

    Arquivado em 2026-02-05

    Ver documento
  • Relatório trimestral (10-Q)

    Uma atualização sobre o desempenho financeiro dos últimos três meses.

    Arquivado em 2026-07-23

    Ver documento
  • Relatório de fato relevante (8-K)

    Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.

    Arquivado em 2026-08-27

    Ver documento

via SEC EDGAR

Histórico de Resultados

via SEC EDGAR

Latest News

Recent headlines for VRSN, sourced from Markets Gazette.

No recent news for VRSN.