One-glance verdict
Overvalued
$261.76 our estimate vs market $311.30
Wall Street consensus: $396.21 (51.4% higher than our fair-value estimate)
19% above our estimate, beyond the bull case
Fundamentals snapshot
MongoDB, Inc.
MDB · NGM · Technology · Software - Infrastructure
Current price
$311.30
52-week range
$198.47 - $444.72
Market cap
$25.04B
Balance sheet
Healthy
-43.79x Concerning
Net cash $2.37B. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
2 Risks
2 rewards · 2 risks
- Reward Revenue grew 5.6% last year.
- Reward Free cash flow was positive in 3/10 years.
- Risk Return on equity was -1.0% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 2.7% (peer median: 2.9%).
What this company does
MongoDB, Inc.
MongoDB provides a popular database, which is like a digital filing cabinet that software applications use to store and retrieve information. The company earns most of its revenue (money from sales) from its main product, Atlas, a subscription service that manages the database for customers on the cloud. This is significant because almost every modern application relies on a database, making MongoDB's easy-to-use cloud service an attractive choice for many software developers.
How the company got here
MongoDB was started in 2007 by the team behind DoubleClick, an online advertising company that was later bought by Google. They were frustrated with the limitations of traditional databases when trying to handle a massive number of ads. Originally named 10gen, the company created a new, more flexible type of database designed for the huge amounts of fast-changing data common on the internet. In 2016, they launched a key product called Atlas, a cloud-based service that made their database much easier for businesses to use, and it quickly became their main source of income. The company changed its name to MongoDB Inc. in 2013 and became a publicly traded company in 2017.
What it actually does
MongoDB provides a popular database platform that helps software developers build and run modern applications. Think of a database as a digital filing cabinet where an application stores all its information, like user profiles, product catalogs, or social media posts. MongoDB's main product is a special kind of database, called a NoSQL database, that is very flexible and can handle all sorts of unstructured data (information that doesn't fit neatly into tables, like photos, comments, and social media posts). This makes it easier and faster for developers to create complex apps for the web and mobile devices. The company offers its database in different ways, including a free version for developers to start with, and more powerful, paid versions for large businesses.
MongoDB Atlas
This is the company's flagship product and its main money-maker, bringing in the majority of its revenue (the total money earned from sales). Atlas is a fully managed "database-as-a-service," which means MongoDB handles all the complicated setup and maintenance for its customers on the cloud (a network of powerful computers accessed over the internet). Companies pay a subscription fee based on how much they use the service, similar to a utility bill. This allows developers to focus on building their applications without worrying about managing the underlying database infrastructure.
MongoDB Enterprise Advanced
This is a subscription service for large companies that want to run MongoDB's database on their own servers (often called on-premises) or in a hybrid environment (a mix of their own servers and the cloud). Customers who buy this product get a commercial license to use the database software, along with advanced security features, management tools, and technical support. This option gives businesses more control over their data and is often chosen for applications with strict security or regulatory requirements. While Atlas is now the larger business, Enterprise Advanced was the company's original core commercial product.
Professional Services
This is a smaller part of MongoDB's business that makes money by selling expertise. The company offers consulting (expert advice to help businesses solve specific problems) and training to help its customers get the most out of its database products. For example, a company might hire MongoDB's experts to help them design a complex database system or to train their developers on how to use new features. This segment provides a supporting stream of revenue alongside its main software subscription businesses.
What management is betting on now
MongoDB is heavily focused on making its Atlas cloud platform the go-to choice for developers building modern applications, especially those using artificial intelligence (AI). The company is integrating features like vector search, which is essential for AI applications that need to find similar items in large datasets, directly into its database. By acquiring companies like Voyage AI, MongoDB aims to make it easier for developers to build AI-powered features without needing separate, specialized tools. The strategy is to be the underlying data foundation for the next wave of AI-driven software, which they believe will drive more customers to their consumption-based (pay-as-you-go) Atlas platform.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$-2.45M
FY2025 Q3
$35.46M
FY2025 Q4
$24.56M
FY2026 Q1
$108.32M
FY2026 Q2
$71.57M
FY2026 Q3
$141.83M
FY2026 Q4
$178.47M
FY2027 Q1
$199.31M
Revenue
$687.62M
Net income
$4.43M
Diluted EPS
0.05
Operating cash flow
$201.63M
Free cash flow
$199.31M
Fetching…
Sources
Revenue
$695.07M
Net income
$15.53M
Diluted EPS
-0.42
Operating cash flow
$179.60M
Free cash flow
$178.47M
Fetching…
Sources
Revenue
$628.31M
Net income
$-2.01M
Diluted EPS
—
Operating cash flow
$143.51M
Free cash flow
$141.83M
Fetching…
Sources
Revenue
$591.40M
Net income
$-47.05M
Diluted EPS
—
Operating cash flow
$72.11M
Free cash flow
$71.57M
Fetching…
Sources
Revenue
$549.01M
Net income
$-37.63M
Diluted EPS
-0.46
Operating cash flow
$109.93M
Free cash flow
$108.32M
Fetching…
Sources
Revenue
$548.40M
Net income
$15.83M
Diluted EPS
-1.73
Operating cash flow
$50.54M
Free cash flow
$24.56M
Fetching…
Sources
Revenue
$529.38M
Net income
$-9.78M
Diluted EPS
—
Operating cash flow
$37.44M
Free cash flow
$35.46M
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Sources
Revenue
$478.11M
Net income
$-54.53M
Diluted EPS
—
Operating cash flow
$-1.40M
Free cash flow
$-2.45M
Fetching…
Sources
Is it cheap or expensive?
Fair value $261.76 vs current price $311.30
Wall Street consensus is the average analyst price target: $396.21 (51.4% higher than our fair-value estimate).
Our most-likely fair value is $261.76 a share — about 15.9% below today's price of $311.30, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $2.4B - more cash than debt. Interest coverage -43.8x.
Net debt
$-2.37B
Interest coverage
-43.79x
MongoDB, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
MDB
BASELINE
MongoDB, Inc.
Total debt $58.63M Interest coverage -43.79x This is the baseline the peer rows are being compared against.
Total debt $2.77B Interest coverage -172.95x Neither company has much profit cushion over interest right now.
Total debt $1.29B Interest coverage -4.01x Neither company has much profit cushion over interest right now.
Total debt $591.56M Interest coverage -1.33x Neither company has much profit cushion over interest right now.
What you should know
The case for and against MDB
2 Rewards
2 Risks
Rewards
-
Revenue grew 5.6% last year.
-
Free cash flow was positive in 3/10 years.
Risks
-
Return on equity was -1.0% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 2.7% (peer median: 2.9%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
42.42x
P/B
8.54x
P/S
9.62x
EV/EBITDA
-281.41x
PEG ratio
1.67x
Profitability
How much profit each dollar creates
Gross margin
72.0%
Operating margin
-3.6%
Net margin
-1.1%
ROE
-1.0%
ROA
-1.8%
Health
Liquidity and balance-sheet strength
Debt / equity
0.02x
Current ratio
4.95x
Quick ratio
4.55x
Total debt
$58.63M
Total cash
$2.43B
Growth
How the business has been compounding
Revenue TTM
$2.60B
Revenue 5Y CAGR
29.6%
EPS TTM
-0.37
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$596.85M
Free CF TTM
$500.19M
FCF margin
19.2%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—