What each dimension measures and where the thresholds come from.
Gross Profit Margin
Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Years to Pay Off Debt
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Price-to-Book
Market price vs book value per share. Rarely below 1.5x for quality businesses today. Intangible assets (brand, software, patents) don't appear on the balance sheet under accounting rules, making P/B artificially high for asset-light companies. Negative P/B indicates book equity has been reduced by buybacks — common in highly profitable capital-return businesses.
Free Cash Flow
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
Owner Earnings
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
MongoDB, Inc., together with its subsidiaries, provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB. It offers professional services comprising consulting and training. The company was formerly known as 10gen, Inc. and changed its name to MongoDB, Inc. in August 2013. MongoDB, Inc. was incorporated in 2007 and is headquartered in New York, New York.
Showing Key Metrics
Income Highlights
Metric
2026
2025
2024
2023
Gross Profit %
71.7%▼
73.3%
74.8%
72.8%
Operating Margin %
-5.6%▲
-10.8%
-13.9%
-27.0%
Net Income %
-2.9%▲
-6.4%
-10.5%
-26.9%
Diluted EPS
-0.88▲
-1.73
-2.48
-5.03
Balance Sheet Highlights
Metric
2026
2025
2024
2023
2022
Total Assets
$3.8B
$3.4B
$2.9B
$2.6B
N/A
Total Debt
$33M↓
$36M
$1.2B
$1.2B
N/A
Working Capital
$2.4B▲
$2.4B
$1.9B
$1.6B
N/A
Years to Pay Debt
-0.46
-0.28
-6.70
-3.43
N/A
Cash Flow Highlights
Metric
2026
2025
2024
2023
2022
Free Cash Flow
$500M▲
$121M
$115M
-$20M
N/A
Owner Earnings
-$29M
-$73M
-$138M
-$309M
N/A
CapEx % of Net Income
N/A
N/A
N/A
N/A
N/A
Income Statement
2026
2025
2024
2023
Tax Rate For Calcs
0
0
0
0
Normalized EBITDA
-15,151
-96,534
-122,004
-294,275
Net Income From Continuing Operation Net Minority Interest
-71,151
-129,072
-176,600
-345,398
Reconciled Depreciation
37,412
26,973
32,125
29,182
Reconciled Cost Of Revenue
696,058
535,296
424,485
349,304
EBITDA
-15,151
-96,534
-122,004
-294,275
EBIT
-52,563
-123,507
-154,129
-323,457
Net Interest Income
85,465
87,595
70,851
15,151
Interest Expense
3,128
8,092
9,387
9,797
Interest Income
88,593
95,687
80,238
24,948
Normalized Income
-71,151
-129,072
-176,600
-345,398
Net Income From Continuing And Discontinued Operation
-71,151
-129,072
-176,600
-345,398
Total Expenses
2,600,765
2,222,507
1,916,743
1,630,695
Total Operating Income As Reported
-136,968
-216,064
-233,732
-346,655
Diluted Average Shares
81,247
74,555
71,249
68,628
Basic Average Shares
81,247
74,555
71,249
68,628
Diluted EPS
0
0
0
0
Basic EPS
0
0
0
0
Diluted NI Availto Com Stockholders
-71,151
-129,072
-176,600
-345,398
Net Income Common Stockholders
-71,151
-129,072
-176,600
-345,398
Net Income
-71,151
-129,072
-176,600
-345,398
Net Income Including Noncontrolling Interests
-71,151
-129,072
-176,600
-345,398
Net Income Continuous Operations
-71,151
-129,072
-176,600
-345,398
Tax Provision
15,460
-2,527
13,084
12,144
Pretax Income
-55,691
-131,599
-163,516
-333,254
Other Income Expense
-4,188
-3,130
-635
-1,750
Other Non Operating Income Expenses
-4,188
-3,130
-635
-1,750
Net Non Operating Interest Income Expense
85,465
87,595
70,851
15,151
Interest Expense Non Operating
3,128
8,092
9,387
9,797
Interest Income Non Operating
88,593
95,687
80,238
24,948
Operating Income
-136,968
-216,064
-233,732
-346,655
Operating Expense
1,904,707
1,687,211
1,492,258
1,281,391
Research And Development
716,303
596,837
515,940
421,692
Selling General And Administration
1,188,404
1,090,374
976,318
859,699
Selling And Marketing Expense
944,389
871,148
782,760
699,201
General And Administrative Expense
244,015
219,226
193,558
160,498
Other Gand A
244,015
219,226
193,558
160,498
Gross Profit
1,767,739
1,471,147
1,258,526
934,736
Cost Of Revenue
696,058
535,296
424,485
349,304
Total Revenue
2,463,797
2,006,443
1,683,011
1,284,040
Operating Revenue
2,463,797
2,006,443
1,683,011
1,284,040
Balance Sheet
2026
2025
2024
2023
2022
Treasury Shares Number
2,878
99
99
99
Ordinary Shares Number
80,493
80,468
72,741
69,907
Share Issued
83,371
80,567
72,841
70,006
Net Debt
340,314
684,054
662,617
Total Debt
32,859
36,500
1,183,988
1,184,830
Tangible Book Value
2,726,459
2,687,948
995,353
670,301
Invested Capital
2,952,358
2,782,224
2,212,262
1,879,388
Working Capital
2,445,359
2,361,535
1,919,416
1,648,072
Net Tangible Assets
2,726,459
2,687,948
995,353
670,301
Capital Lease Obligations
32,859
36,500
40,715
44,950
Common Stock Equity
2,952,358
2,782,224
1,068,989
739,508
Total Capitalization
2,952,358
2,782,224
2,212,262
1,879,388
Total Equity Gross Minority Interest
2,952,358
2,782,224
1,068,989
739,508
Stockholders Equity
2,952,358
2,782,224
1,068,989
739,508
Gains Losses Not Affecting Retained Earnings
13,207
-924
4,545
-905
Other Equity Adjustments
13,207
-924
4,545
-905
Treasury Stock
494,569
1,319
1,319
1,319
Retained Earnings
-1,911,855
-1,840,704
-1,711,632
-1,535,032
Additional Paid In Capital
5,345,494
4,625,093
2,777,322
2,276,694
Capital Stock
81
78
73
70
Common Stock
81
78
73
70
Total Liabilities Net Minority Interest
806,490
648,069
1,800,653
1,849,385
Total Non Current Liabilities Net Minority Interest
136,994
86,082
1,236,433
1,260,873
Other Non Current Liabilities
29,454
33,042
41,661
52,980
Non Current Deferred Liabilities
83,940
25,666
20,581
31,749
Non Current Deferred Revenue
83,588
25,404
20,296
31,524
Non Current Deferred Taxes Liabilities
352
262
285
225
Long Term Debt And Capital Lease Obligation
23,600
27,374
1,174,191
1,176,144
Long Term Capital Lease Obligation
23,600
27,374
30,918
36,264
Long Term Debt
1,143,273
1,139,880
1,136,521
Current Liabilities
669,496
561,987
564,220
588,512
Current Deferred Liabilities
387,119
334,381
357,108
428,747
Current Deferred Revenue
387,119
334,381
357,108
428,747
Current Debt And Capital Lease Obligation
9,259
9,126
9,797
8,686
Current Capital Lease Obligation
9,259
9,126
9,797
8,686
Pensionand Other Post Retirement Benefit Plans Current
143,046
120,354
112,579
90,112
Payables And Accrued Expenses
130,072
98,126
84,736
60,967
Current Accrued Expenses
109,803
87,659
74,831
52,672
Payables
20,269
10,467
9,905
8,295
Accounts Payable
20,269
10,467
9,905
8,295
Total Assets
3,758,848
3,430,293
2,869,642
2,588,893
Total Non Current Assets
643,993
506,771
386,006
352,309
Other Non Current Assets
323,322
310,701
217,847
181,503
Non Current Deferred Assets
26,021
20,810
4,116
2,564
Non Current Deferred Taxes Assets
26,021
20,810
4,116
2,564
Goodwill And Other Intangible Assets
225,899
94,276
73,636
69,207
Other Intangible Assets
34,502
24,597
3,957
11,428
Goodwill
191,397
69,679
69,679
57,779
Net PPE
68,751
80,984
90,407
99,035
Accumulated Depreciation
-36,746
-30,079
-24,791
-18,524
Gross PPE
105,497
111,063
115,198
117,559
Leases
44,384
41,273
38,677
35,219
Construction In Progress
705
386
795
879
Other Properties
44,544
54,147
60,879
68,683
Machinery Furniture Equipment
15,864
15,257
14,847
12,778
Current Assets
3,114,855
2,923,522
2,483,636
2,236,584
Other Current Assets
97,170
81,214
50,107
31,212
Current Deferred Assets
131,442
112,632
92,512
83,550
Prepaid Assets
32,573
Receivables
499,002
393,099
325,610
285,192
Accounts Receivable
499,002
393,099
325,610
285,192
Allowance For Doubtful Accounts Receivable
-12,979
-8,888
-8,054
-6,362
Gross Accounts Receivable
511,981
401,987
333,664
291,554
Cash Cash Equivalents And Short Term Investments
2,387,241
2,336,577
2,015,407
1,836,630
Other Short Term Investments
1,303,701
1,846,444
1,212,448
1,380,804
Cash And Cash Equivalents
1,083,540
490,133
802,959
455,826
Cash Flow
2026
2025
2024
2023
2022
Free Cash Flow
500,188
120,641
115,403
-20,214
Repurchase Of Capital Stock
-400,333
0
0
Repayment Of Debt
-7,539
-6,179
-5,483
-4,510
Issuance Of Capital Stock
0
0
889,184
Capital Expenditure
-4,960
-29,550
-6,074
-7,244
Interest Paid Supplemental Data
1,897
3,705
5,471
5,837
Income Tax Paid Supplemental Data
14,976
11,991
11,164
5,672
End Cash Position
1,086,625
492,753
803,643
456,339
Beginning Cash Position
492,753
803,643
456,339
474,420
Effect Of Exchange Rate Changes
12,348
-5,701
-433
-2,003
Changes In Cash
581,524
-305,189
347,737
-16,078
Financing Cash Flow
-462,439
202,060
38,241
30,200
Cash Flow From Continuing Financing Activities
-462,439
202,060
38,241
30,200
Net Other Financing Charges
-98,574
170,223
Proceeds From Stock Option Exercised
44,007
38,016
43,724
34,710
Net Common Stock Issuance
-400,333
0
0
0
Common Stock Payments
-400,333
0
0
Common Stock Issuance
0
0
889,184
Net Issuance Payments Of Debt
-7,539
-6,179
-5,483
-4,510
Net Long Term Debt Issuance
-7,539
-6,179
-5,483
-4,510
Long Term Debt Payments
-7,539
-6,179
-5,483
-4,510
Investing Cash Flow
538,815
-657,440
188,019
-33,308
Cash Flow From Continuing Investing Activities
538,815
-657,440
188,019
-33,308
Net Investment Purchase And Sale
545,807
-627,890
209,093
-26,064
Sale Of Investment
972,630
797,584
1,445,000
1,425,000
Purchase Of Investment
-426,823
-1,425,474
-1,235,907
-1,451,064
Net Business Purchase And Sale
-2,032
0
-15,000
0
Purchase Of Business
-2,032
0
-15,000
0
Net PPE Purchase And Sale
-4,960
-29,550
-6,074
-7,244
Purchase Of PPE
-4,960
-29,550
-6,074
-7,244
Operating Cash Flow
505,148
150,191
121,477
-12,970
Cash Flow From Continuing Operating Activities
505,148
150,191
121,477
-12,970
Change In Working Capital
-747
-200,315
-148,976
-74,470
Change In Other Working Capital
102,575
-85,489
-124,241
36,682
Change In Other Current Liabilities
-9,595
-15,895
-11,858
-8,892
Change In Other Current Assets
-13,007
-30,677
-211
-99
Change In Payables And Accrued Expense
36,746
25,795
41,181
-13,026
Change In Accrued Expense
27,830
25,254
39,502
-16,189
Change In Payable
8,916
541
1,679
3,163
Change In Account Payable
8,916
541
1,679
3,163
Change In Prepaid Assets
-11,056
-24,813
-12,208
2,315
Change In Receivables
-106,410
-69,236
-41,639
-91,450
Changes In Account Receivables
-106,410
-69,236
-41,639
-91,450
Other Non Cash Items
2,419
3,393
3,375
4,005
Stock Based Compensation
550,454
493,940
456,907
381,454
Unrealized Gain Loss On Investment Securities
-1,044
-1,857
0
Amortization Of Securities
-10,843
-25,059
-44,556
-5,954
Deferred Tax
-3,158
-16,794
-1,574
-562
Deferred Income Tax
-3,158
-16,794
-1,574
-562
Depreciation Amortization Depletion
37,412
26,973
32,125
29,182
Depreciation And Amortization
37,412
26,973
32,125
29,182
Depreciation
37,412
26,973
32,125
29,182
Operating Gains Losses
3,181
-1,901
758
-597
Gain Loss On Investment Securities
1,063
-937
-1,044
-1,857
Net Foreign Currency Exchange Gain Loss
2,118
-964
1,802
1,260
Net Income From Continuing Operations
-71,151
-129,072
-176,600
-345,398
These metrics estimate what MongoDB, Inc. is worth based on its fundamentals — independent of what the market currently prices it at.
Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles.
EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.
Graham's Fair Value
N/A (negative EPS)
Margin of Safety
—
Market Cap ÷ Company Value
1.00
P/B Ratio
7.23
Warren's Owner Earnings
-$29M
Latest fiscal year
Graham's 7 Criteria
Defensive Investor Checklist
2/6 — Speculative Investor
✅Adequate Size
$2.5B
vs > $1.5B revenue
✅Strong Financial Condition
4.65x
vs Current Ratio > 2.0x
❌Earnings Stability
4 loss years (4 yrs data)
vs No negative EPS years
❌Dividend Record
No dividend
vs Uninterrupted dividends
❌Moderate P/E Ratio
37.7x
vs P/E ≤ 15.0x
❌Moderate Price-to-Book
7.23x P/B (P/E×P/B: 272.7)
vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5
Graham's 7 Criteria — Explained
What each criterion measures and why it may or may not apply to modern businesses.
✅ Adequate Size — $2.5Bvs > $1.5B revenue
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
"The minimum size of an enterprise should be not less than $100 million of annual sales."
✅ Strong Financial Condition — 4.65xvs Current Ratio > 2.0x
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
"For industrial companies, current assets should be at least twice current liabilities."
❌ Earnings Stability — 4 loss years (4 yrs data)vs No negative EPS years
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
"The company should have shown no deficit in the past ten years."
❌ Dividend Record — No dividendvs Uninterrupted dividends
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
"Some current dividend payments — for at least the past 20 years."
❌ Moderate P/E Ratio — 37.7xvs P/E ≤ 15.0x
Graham's 15x P/E threshold was calibrated to 1960s market averages when interest rates were higher. Today's lower rate environment structurally supports higher multiples — the S&P 500 long-run average P/E is now closer to 20–25x. A stock trading at 20x is not automatically speculative in the modern context.
"The price-earnings ratio should be no more than 15 times average earnings."
Graham's 1.5x P/B threshold made sense when most company value was tangible. Today, intangible assets — brand, software, patents, network effects — rarely appear on the balance sheet. A high P/B in tech, pharma, or consumer brands often reflects intangible value, not overvaluation. P/FCF or EV/EBITDA are more reliable for asset-light businesses.
"The price should not be more than 1½ times book value. P/E × P/B ≤ 22.5."
Net Current Asset Value
$28.72
Trading at 9.3x NCAV. Expected for most quality businesses — NCAV was designed to find depression-era bargains and rarely applies to modern profitable companies.
"Buy at two-thirds of net current assets." — Graham
Earnings Power Value
$-18.94
Per share, no-growth floor. Compare to current price.
Cash Flow Analysis
Metric
2026
2025
2024
2023
2022
Capital Expenditure % of Net Income
N/A
N/A
N/A
N/A
N/A
Repurchase of Capital Stock
-$400M
$0M
$0M
N/A
N/A
Free Cash Flow
$500M▲
$121M▲
$115M▲
-$20M•
N/A•
Warren's Owner Earnings
-$29M
-$73M
-$138M
-$309M
N/A
Peers & Industry
No auto-detected peers for Software - Infrastructure. You can manually compare MDB against any stock using the Compare tool.
"The management of a business is its most important single factor — more important than market position, patents, or financial structure."
— Benjamin Graham
Capital Allocation & Alignment
Insider Ownership
3.04%
Moderate — some alignment with shareholders
Return on Equity (ROE)
-2.4%
Weak — poor returns on equity
Return on Assets (ROA)
-1.9%
Poor — assets are not generating adequate returns
Share Buybacks (Latest Year)
$400M
Management is returning capital to shareholders via buybacks
Debt Trend YoY
-10.0% YoY
Debt is declining — management is deleveraging
Leadership Team
Dwight Merriman
Co-Founder & Director
Age 56
Pay: $38,739
Chirantan Jitendra Desai
President, CEO & Director
Age 54
Michael Berry
CFO & Principal Financial Officer
Age 62
Jess Ian Lubert
Vice President of Investor Relations
Top Institutional Holders
Institution
% Owned
Shares
Vanguard Group Inc
10.75%
8,642,666
Blackrock Inc.
7.20%
5,787,025
FMR, LLC
2.96%
2,380,454
Price (T.Rowe) Associates Inc
2.32%
1,864,795
State Street Corporation
2.24%
1,796,847
Shaw D.E. & Co., Inc.
1.81%
1,457,562
Geode Capital Management, LLC
1.80%
1,444,384
ValueAct Holdings, L.P.
1.75%
1,406,800
Risk Analysis
Beta (Market Risk)
1.49
Moderate volatility — moves slightly more than market
Short Interest
4.1% of float
Low short interest — market is not heavily bearish
Debt-to-Equity
0.02x
Conservative balance sheet — low financial risk
Current Ratio
4.65x
Strong liquidity — Graham approved
52-Week Price Range
Low: $169.26Current: $265.74High: $444.72
Currently at 35% of 52-week range
MongoDB, Inc. (MDB) fundamental analysis — Overall grade F based on profitability, financial health, valuation and cash flow. Graham's
Fair Value: N/A (negative EPS). Gross profit margin: 71.7%. Operating margin: -5.6%. Net margin: -2.9%. Market cap: $21.4B. Sector: Technology. Industry: Software - Infrastructure. Analysis powered by 360investing — free fundamental stock analysis based on Benjamin Graham and Warren Buffett
principles.
Disclaimer: 360investing is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. All data is sourced from public third-party providers
and may be delayed, inaccurate, or incomplete. Past performance is not indicative of future results. Analysis, scores, and valuations are algorithmic and do not represent professional investment recommendations. Always conduct your own due
diligence and consult a qualified financial adviser before making any investment decision. Use of this tool constitutes acceptance that 360investing and its operators bear no liability for decisions made based on information presented here.