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MongoDB, Inc. (MDB)

Valor Justo
TechnologySoftware - InfrastructureUnited States

Fundamental

51

Precio

$348.61

Capitalización Bursátil

$33.95B

Parte 1 · Cuánto vale la empresa

Resumen

MongoDB makes database software: the system that stores and retrieves the data behind an application, from a shopping cart to a bank's transaction history. Its product stores data in a flexible format that lets developers change what they record without redesigning the database first, which is why it has become popular for new, fast-moving software projects, including many of the applications that developers are now building around large language models and other forms of artificial intelligence.

Cómo genera ingresos

Most revenue now comes from Atlas, a version of the database that MongoDB runs for customers on rented cloud servers and bills mainly by consumption — the more data and traffic a customer's application generates, the more it pays. The remainder comes from software licensed for customers to install and run on their own servers, a business that keeps shrinking every year as more customers migrate their existing applications onto the cloud-hosted version instead of maintaining their own infrastructure.

Ingresos por segmento

Atlas73%

The cloud-hosted, consumption-billed version of the database that MongoDB runs for customers — the fast-growing majority of revenue.

Enterprise Advanced and Community27%

Software licensed for customers to install and run on their own infrastructure, a legacy business now in decline as customers move to Atlas.

Ventaja competitiva

Costes de cambio · Estrecha

Once an application is built on MongoDB's data model, moving it to a different database means rewriting how the software stores and queries data, a project few engineering teams undertake lightly. That lock-in is real but not unusual in databases generally, and MongoDB competes against cloud providers' own database services and open-source alternatives that offer a similar model at a lower price.

Qué impulsa la demanda

Moderadamente cíclico

Atlas bills by consumption, so revenue tracks how much a customer's own application is actually used, which slows when companies cut back on new software projects or optimize cloud spending in a downturn. Because the database sits underneath applications that are expensive to rebuild once running, existing customers rarely leave even when they trim usage, which limits how far demand falls.

Riesgos clave

  • Competition from cloud providers' native databases — Amazon, Microsoft and Google each sell their own database services, including some designed to mimic MongoDB's model, bundled with the rest of their cloud platforms at competitive prices.
  • Declining legacy licence business — The non-Atlas licensed-software business is shrinking as customers migrate to the cloud, and that decline is a drag Atlas growth must continually outrun for total revenue to keep rising.
  • Usage-based revenue sensitive to customer spending — Because Atlas bills mainly on consumption, any slowdown in a customer's own application growth or a deliberate cost-cutting effort reduces MongoDB's revenue with little lag.
  • History of net losses — MongoDB has a history of operating losses as it invests heavily in growth, and there is no guarantee it sustains the profitability needed to fund that investment from its own cash flow indefinitely.

Concentración de clientes

MongoDB serves more than 65,200 customers across over 100 countries, and the company does not disclose reliance on any concentrated group of large accounts.

Los argumentos a favor

Buyers argue that Atlas's consumption-based model gives MongoDB direct exposure to the growth of the applications built on it, that switching a live application to another database is costly enough to keep most customers in place, and that the shrinking legacy licence business will soon stop being a drag on overall growth.

Los argumentos en contra

Sellers fear that cloud providers' own bundled database services will keep chipping away at MongoDB's pricing power, that usage-based revenue leaves the company exposed to customers cutting cloud spend, and that a history of net losses raises questions about how much investment the business can keep funding on its own.

Datos por segmento del ejercicio fiscal 2026Fuentes: MongoDB, Inc. — Form 10-K, fiscal year 2026 (year ended January 31, 2026)

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

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 19 de septiembre de 2026 with claude-haiku-4-5 — shared with all users

P/E: 20.0Score: 77Market cap: $2.69T

AWS sells DynamoDB and DocumentDB, the latter built to be compatible with MongoDB's own API, to the same cloud developers MongoDB Atlas targets.

P/E: 21.5Score: 66Market cap: $400.95B

MongoDB's 10-K names Oracle among the legacy database vendors it displaces, competing for the same enterprise database budgets and workloads.

P/E: 28.6Score: 80Market cap: $3.70T

Microsoft competes on both fronts MongoDB names — SQL Server as a legacy database and Azure Cosmos DB as a cloud document database sold to the same customers.

Alphabet Inc. (Google Cloud Platform)GOOGL

Google Cloud offers Firestore and Bigtable as managed non-relational databases bundled with its cloud contracts, competing directly with MongoDB Atlas.

Couchbase, Inc.Not tracked

Couchbase sells a document-oriented NoSQL database and its Capella managed service to the same application developers; it went private under Haveli Investments in September 2025 and is no longer listed.

Elastic N.V.ESTC

Elasticsearch and Elastic Cloud compete with MongoDB Atlas for the same search, document-store and vector workloads inside modern applications.

Balance y Liquidez

Ingresos

$2.78B

Últimos 12 meses (hasta 31/7/2026)

Beneficio Neto

$59M

Últimos 12 meses (hasta 31/7/2026)

Flujo de Caja Libre

$500M

Patrimonio Neto Total

$2.95B

Pasivo Total

$806M

Ratio de Liquidez

4.87

Cobertura de Intereses

6.14

Deuda/EBITDA

-

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalValoración Justa

Valor Justo

$308.94

Precio Actual

$348.61

Margen de Seguridad

-12.8%

Rango de Valor Justo

$200.81 - $417.07

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$456.88
Flujo de caja descontado (DCF):$72.94
Múltiplo sobre beneficios (P/E):$41.23
Fórmula de crecimiento de Graham:$11.56
Valor de la capacidad de generar beneficios (EPV):Datos insuficientes para calcularlo
P/B justificado:Datos insuficientes para calcularlo
Descuento de dividendos (Gordon):Datos insuficientes para calcularlo
P/FFO, fondos de operaciones:Datos insuficientes para calcularlo
Beneficios de mitad de ciclo:Datos insuficientes para calcularlo
Múltiplo sobre ingresos:$173.23
Consenso de Analistas:Compra Fuerte (39B / 9H / 0S)
Última Sorpresa de Resultados:+17.76%

Métricas de Valoración

Ratio P/E

491.00

ROE

-2.4%

Ratio P/B

9.42

P/FCF

42.61

Margen Bruto

72.7%

ROIC

-0.4%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC

-0.4%

WACC

14.0%

ROIC − WACC

-14.3 pp

El ROIC está por debajo del coste del capital: la empresa destruye valor por cada dólar invertido.

Criterios de Análisis Fundamental

Superado (14)

  • EPS shows upward trend
  • Price CAGR 34.53%
  • Gross Margin 72.7%
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Low reliance on intangibles
  • Revenue Growth 5Y 33.1%
  • Analyst Consensus 81% Buy
  • Earnings Surprise avg 26.1%
  • Earnings Quality (OCF/NI) 11.32
  • Net Margin Trend 2.1% vs -3.5%

Fallido (10)

  • ROIC -0.4%
  • P/FCF 42.61
  • P/B Ratio 9.42
  • Operating Margin -0.5%
  • Return on Tangible Assets
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • ROE 2.0%
  • Share Dilution 8.4%
  • Piotroski F-Score 4/9

No disponible (3)

  • Dividend Payout NaN%
  • Debt/EBITDA
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

4/9

Señales mixtas: algunas áreas requieren atención

score
criteria

Calidad de los Beneficios

11.32

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

8.4%

Emitiendo nuevas acciones, diluyendo la participación

Participaciones institucionales

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Chirantan Jitendra DesaiPresident, CEO & Director54
Mr. Dwight A. MerrimanCo-Founder & Director56
Mr. Michael J. BerryCFO & Principal Financial Officer62
Mr. Kong PhanChief Accounting Officer & Principal Accounting Officer42
Mr. Jim ScharfChief Technology Officer-
Ms. Deepa GopinathChief Information Officer-
Mr. Jess Ian LubertVice President of Investor Relations-
Mr. Andrew StephensChief Legal Officer, General Counsel & Corporate Secretary-
Ms. May PetryChief Marketing Officer-
Ms. Harsha JalihalChief People Officer-

Riesgo de Auditoría

1

Riesgo del Consejo

6

Riesgo de Compensación

7

Riesgo de Derechos del Accionista

5

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Documentos

  • Informe anual (10-K)

    Un resumen anual del negocio, los resultados financieros y los riesgos de la empresa.

    Presentado el 2026-03-11

    Ver documento
  • Informe trimestral (10-Q)

    Una actualización del desempeño financiero de los últimos tres meses.

    Presentado el 2026-09-01

    Ver documento
  • Informe de hecho relevante (8-K)

    Un aviso sobre un hecho relevante, como un cambio de dirección o un anuncio importante.

    Presentado el 2026-09-29

    Ver documento

via SEC EDGAR

Historial de Resultados

via SEC EDGAR

Latest News

Recent headlines for MDB, sourced from Markets Gazette.

  • 3d agoNEGATIVE
    MongoDB Plunges 18% as Meta Taps CEO To Lead New AI Platform | Closing Bell

    MongoDB Inc. experienced a significant drop of 18% following the announcement that its CEO, Dev Ittycheria, will be stepping down to lead a new AI platform. This leadership change and the departure of its CEO to a new venture introduce uncertainty for investors regarding MongoDB's future strategy and execution. The market reaction reflects concerns about continuity and the potential impact on the company's growth trajectory in the competitive database market. Investors will be closely watching for updates on the new leadership and the strategic direction of MongoDB.

  • 29d agoNEGATIVE
    Perché le azioni MongoDB scendono del 13% nonostante i solidi risultati del 2° trimestre

    MongoDB Inc. shares plunged 13% on Wednesday, despite the database software company reporting second-quarter results that surpassed expectations. The sharp decline occurred because the company's Atlas cloud database service did not exhibit the accelerated growth investors were anticipating. While revenue increased by 30% year-over-year and full-year guidance was raised, with several Wall Street firms increasing price targets, the market's focus remained on the perceived lack of momentum in Atlas. This suggests that investor sentiment is highly sensitive to growth metrics in key product areas, overshadowing otherwise strong financial performance.

  • 5/28/2026NEUTRAL
    MongoDB Q1 2027 Earnings Call: Complete Transcript

    MongoDB Inc. released its Q1 2027 earnings call transcript on May 28, 2026. While the transcript provides detailed insights into the company's performance, strategic initiatives, and future outlook, it does not contain specific financial results or forward-looking guidance that would immediately impact its stock price. Investors will need to analyze the content of the transcript for qualitative information regarding customer growth, product development, and competitive positioning to form an investment thesis. The neutral signal reflects the informational nature of the transcript release itself, without immediate quantifiable market-moving data.

  • 5/28/2026POSITIVE
    MongoDB Delivers Better-Than-Expected Q1, Raises FY27 Outlook, Shares Surge

    MongoDB Inc. reported strong first-quarter fiscal 2027 results, exceeding analyst expectations and prompting an upward revision of its full-year outlook. The database company's performance indicates robust demand for its cloud-based solutions, driving significant revenue growth and improved profitability metrics. Investors reacted positively to the news, with shares surging in after-hours trading. This positive momentum suggests continued confidence in MongoDB's strategic direction and its ability to capture market share in the competitive cloud database landscape.

  • 5/27/2026POSITIVE
    MongoDB Stock Darts Higher After The Bell: Here's Why

    MongoDB Inc. experienced a significant surge in its stock price following the release of its first-quarter financial results. The company's performance appears to be positively correlated with that of Snowflake, suggesting a broader positive sentiment within the data and cloud services sector. Investors are likely reacting to strong earnings, which often indicate robust demand for MongoDB's database solutions and potential for future growth. This upward movement could signal increased market confidence in the company's strategic direction and its ability to execute effectively in a competitive landscape.

  • 3/3/2026NEGATIVE
    MongoDB Tumbles as Weak Forecast Revives Concerns

    MongoDB shares plummeted over 20% in Tuesday's trading session after the database software company issued weaker-than-expected forecasts for its full-year revenue and first-quarter adjusted earnings. The fiscal 2027 sales-growth outlook, in particular, fell below analyst consensus, reigniting investor concerns about the company's expansion trajectory. This development points to an intensifying product race within the sector, coupled with rising competition and a noticeable slowdown in customer spending. While recent quarters showed improved execution, the 2027 revenue guidance implies a significant year-over-year deceleration, challenging the company's ability to sustain its growth momentum in an increasingly crowded market.

via Markets Gazette