MongoDB, Inc. (NASDAQ: MDB)

Sector: Technology Industry: Software - Infrastructure CIK: 0001441816
Market Cap 35.27 Bn
P/B 12.21
P/E -497.71
P/S 15.22
ROIC (Qtr) 7.85
Div Yield % 0.00
Rev 1y % (Qtr) 18.69
Total Debt (Qtr) 34.63 Mn
Debt/Equity (Qtr) 0.01

About

MongoDB, Inc. (MDB) operates in the software industry, specifically as a developer data platform company. Its primary business activities revolve around its developer data platform, an integrated set of database and related services that cater to a wide variety of modern application requirements. The platform is designed to support a broad range of workloads and offers a host of features and services that complement its database offering. This integrated solution reduces the cost and back-end complexity of application infrastructure for customers. MongoDB's...

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 376.08M provides robust 10.86x coverage of total debt 34.62M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 834.09M provide 91.21x coverage of short-term debt 9.14M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of 376.08M provides exceptional 75.59x coverage of interest expenses 4.97M, showing strong debt service capability.
  • Strong tangible asset base of 3.34B provides 96.42x coverage of total debt 34.62M, indicating robust asset backing and low credit risk.
  • Robust free cash flow of 346.28M exceeds capital expenditure of 29.80M by 11.62x, indicating strong organic growth funding capability.

Bear case

  • Investment activities of 125.84M provide weak support for R&D spending of 677.58M, which is 0.19x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 834.09M provide limited coverage of acquisition spending of (2.03M), which is -410.48x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of 376.08M provides insufficient coverage of deferred revenue obligations of 367.05M, which is 1.02x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of 376.08M shows concerning coverage of stock compensation expenses of 531.50M, with a 0.71 ratio indicating potential earnings quality issues.
  • Operating cash flow of 376.08M provides minimal -4424.49x coverage of tax expenses of (85000), suggesting potential tax planning inefficiencies or unsustainable tax positions.

Geographical Breakdown of Revenue (2025)

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Software - Infrastructure
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 MSFT Microsoft Corp 3,563.59 Bn 33.97 12.13 60.56 Bn
2 ORCL Oracle Corp 561.87 Bn 36.43 9.21 124.39 Bn
3 PLTR Palantir Technologies Inc. 413.65 Bn 377.64 106.17 0.24 Bn
4 PANW Palo Alto Networks Inc 126.45 Bn 113.19 13.23 0.35 Bn
5 CRWD CrowdStrike Holdings, Inc. 116.42 Bn -370.56 25.50 0.82 Bn
6 SNPS Synopsys Inc 86.06 Bn 64.60 12.20 14.29 Bn
7 NET Cloudflare, Inc. 62.78 Bn -609.27 31.18 3.50 Bn
8 FTNT Fortinet, Inc. 60.83 Bn 32.47 9.28 1.00 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 9.72 2.69
EV to Cash from Ops. EV/CFO 92.14 28.91
EV to Debt EV to Debt 1,000.83 19.83
EV to EBIT EV/EBIT -525.33 -9.95
EV to EBITDA EV/EBITDA -285.01 6.82
EV to Free Cash Flow [EV/FCF] EV/FCF 100.07 26.09
EV to Market Cap EV to Market Cap 0.98 0.36
EV to Revenue EV/Rev 14.96 -9.34
Price to Book Value [P/B] P/B 12.21 3.88
Price to Earnings [P/E] P/E -497.71 -10.66
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -0.30
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.71
Dividend per Basic Share Div per Share (Qtr) 0.00 0.10
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.68
Interest Coverage Int. cover (Qtr) -13.26 -14.20
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -372.42 -408.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 23.93 226.39
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -0.28
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 65.48 25.27
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 49.02 47.48
EBIT Growth (1y) % EBIT 1y % (Qtr) 63.14 20.13
EBT Growth (1y) % EBT 1y % (Qtr) 62.23 14.16
EPS Growth (1y) % EPS 1y % (Qtr) 70.07 67.50
FCF Growth (1y) % FCF 1y % (Qtr) 134.02 296.60
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 17.27 46.75
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.65 0.67
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 1.49 1.22
Current Ratio Curr Ratio (Qtr) 5.26 2.59
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 -0.96
Interest Cover Ratio Int Coverage (Qtr) -13.26 -14.20
Times Interest Earned Times Interest Earned (Qtr) -13.26 -14.20
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -1.40 -548.16
EBIT Margin % EBIT Margin % (Qtr) -2.85 -199.84
EBT Margin % EBT Margin % (Qtr) -3.06 -607.20
Gross Margin % Gross Margin % (Qtr) 71.60 51.88
Net Profit Margin % Net Margin % (Qtr) -3.10 -610.00