Doximity Inc (DOCS) is fairly valued and Tempus AI Inc (TEM) is overvalued.
Against our estimates of intrinsic value, DOCS trades at the wider discount: a margin of safety of +0%, against -621% for TEM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.8% (average of 3 methods) values the shares at $26.62; the price of $26.51 sits right on that value, and 72% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
A 1.8x revenue multiple, discounted for its losses, values the shares at $10.71; the price of $77.19 is 621% above that value.
Leak Score 0/100 on 2 of 12 signals
| Metric | DOCS | TEM |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $26.51 | $77.19 |
| Intrinsic value | $26.62 | $10.71 |
| Margin of safety | +0% | -621% |
| Leak Score | 59/100 (3/12) | 0/100 (2/12) |
| Market cap | $4.7B | $13.9B |
| Revenue growth, 5 years | 25.5% | 46.6% |
| Operating margin | 30.6% | -18.9% |
| Net margin | 25.5% | -17.8% |
| Return on equity | 17.2% | -67.4% |
| Debt to equity | 0.01 | 3.25 |
| P/E | 31.4x | — |
| Forward P/E | 17.1x | 3051.0x |
| P/B | 5.2x | 31.2x |