Detailed financial statements for MongoDB, Inc. (MDB): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
MongoDB, Inc. serves as a global provider of a versatile database platform. The company's offerings feature MongoDB Enterprise Advanced, a sophisticated commercial database server designed for corporate clients, which can be deployed in cloud, on-premises, or hybrid environments. It also presents MongoDB Atlas, a fully managed, multi-cloud database-as-a-service (DBaaS) solution.
Analysis Summary
MongoDB, Inc. reported revenue of $2.46B in the most recent fiscal year, growing at a 5-year CAGR of 33.1%.
Trailing-twelve-month margins: gross margin 72.7%, operating margin -0.5%, net margin 2.1%.
At $352.96 (closing price, October 30, 2026), MDB trades at a P/E of 500.44 and an ROE of 2.00%. Market capitalisation stands at $28.4B, placing it among large-cap names.
Balance sheet quality for MDB: debt-to-equity ratio of 0.01, current ratio of 4.87 over the last 12 months, net cash position of $2.35B at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Revenue | $101.4M | $154.5M | $267.0M | $421.7M | $590.4M | $873.8M | $1.28B | $1.68B | $2.01B | $2.46B |
| Cost of Revenue | $29.9M | $42.9M | $73.6M | $125.4M | $177.1M | $259.5M | $349.3M | $424.5M | $535.3M | $696.1M |
| Gross Profit | $71.5M | $111.7M | $193.4M | $296.4M | $413.3M | $614.3M | $934.7M | $1.26B | $1.47B | $1.77B |
| Research & Development | $51.8M | $62.2M | $89.9M | $149.0M | $205.2M | $308.8M | $421.7M | $515.9M | $596.8M | $716.3M |
| Selling, General & Admin | $105.7M | $146.7M | $201.4M | $295.2M | $417.4M | $594.8M | $859.7M | $976.3M | $1.09B | $1.19B |
| Operating Expenses | $157.4M | $208.9M | $291.2M | $444.2M | $622.6M | $903.7M | $1.28B | $1.49B | $1.69B | $1.90B |
| Operating Income | -$85.9M | -$97.3M | -$97.8M | -$147.9M | -$209.3M | -$289.4M | -$346.7M | -$233.7M | -$216.1M | -$137.0M |
| EBITDA | -$66.5M | -$79.0M | -$87.8M | -$135.4M | -$182.1M | -$267.1M | -$294.3M | -$122.3M | -$96.5M | -$29.3M |
| Interest Expense | $9,000 | $8,000 | $10.3M | $21.0M | $56.1M | $11.3M | $9.8M | $9.4M | $8.1M | $3.1M |
| Pre-tax Income | -$86.0M | -$95.1M | -$102.3M | -$176.2M | -$262.7M | -$302.9M | -$333.3M | -$163.5M | -$131.6M | -$55.7M |
| Income Tax | $719,000 | $1.3M | -$3.3M | -$656,000 | $4.3M | $4.0M | $12.1M | $13.1M | -$2.5M | $15.5M |
| Net Income | -$86.7M | -$96.4M | -$99.0M | -$175.5M | -$266.9M | -$306.9M | -$345.4M | -$176.6M | -$129.1M | -$71.2M |
| EPS | -$2.15 | -$1.94 | -$1.90 | -$3.14 | -$4.53 | -$4.75 | -$5.03 | -$2.48 | -$1.73 | -$0.88 |
| EPS (Diluted) | -$2.15 | -$1.94 | -$1.90 | -$3.14 | -$4.53 | -$4.75 | -$5.03 | -$2.48 | -$1.73 | -$0.88 |
| Shares Outstanding (Diluted) | 40.3 M | 49.6 M | 52.0 M | 55.9 M | 59.0 M | 64.6 M | 68.6 M | 71.2 M | 74.6 M | 81.2 M |
Income Statement (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Revenue | $628.3M | $695.1M | $687.6M | $771.8M |
| Gross Profit | $449.1M | $507.7M | $496.2M | $569.8M |
| Operating Income | -$18.2M | $50,000 | -$24.8M | $28.4M |
| EBITDA | $10.9M | $26.1M | $18.8M | $56.4M |
| Net Income | -$2.0M | $15.5M | $4.4M | $40.9M |
| EPS | -$0.02 | $0.19 | $0.06 | $0.51 |
| EPS (Diluted) | -$0.02 | $0.18 | $0.05 | $0.50 |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Cash & Equivalents | $69.3M | $61.9M | $147.8M | $706.2M | $429.7M | $473.9M | $455.8M | $803.0M | $490.1M | $1.08B |
| Short-term Investments | $47.2M | $217.1M | $318.1M | $280.3M | $528.0M | $1.35B | $1.38B | $1.21B | $1.85B | $1.30B |
| Receivables | $31.3M | $50.6M | $72.8M | $85.6M | $135.2M | $195.4M | $285.2M | $325.6M | $393.1M | $499.0M |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $158.5M | $347.3M | $566.2M | $1.11B | $1.14B | $2.12B | $2.24B | $2.48B | $2.92B | $3.11B |
| Property, Plant & Equipment | $4.9M | $59.6M | $73.7M | $69.5M | $97.0M | $104.4M | $99.0M | $90.4M | $81.0M | $68.8M |
| Goodwill | $1.7M | $1.7M | $41.9M | $55.8M | $55.8M | $57.8M | $57.8M | $69.7M | $69.7M | $191.4M |
| Intangible Assets | $2.5M | $1.6M | $15.9M | $34.8M | $26.3M | $20.6M | $11.4M | $4.0M | $24.6M | $34.5M |
| Total Assets | $174.4M | $415.2M | $733.5M | $1.33B | $1.41B | $2.45B | $2.59B | $2.87B | $3.43B | $3.76B |
| Accounts Payable | $2.8M | $2.3M | $2.2M | $2.8M | $4.1M | $5.2M | $8.3M | $9.9M | $10.5M | $20.3M |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $97.8M | $142.6M | $164.6M | $242.4M | $354.5M | $526.7M | $588.5M | $564.2M | $562.0M | $669.5M |
| Long-term Debt | 0 | 0 | $216.9M | $911.1M | $937.7M | $1.14B | $1.14B | $1.14B | 0 | 0 |
| Total Liabilities | $460.9M | $221.7M | $468.9M | $1.25B | $1.41B | $1.78B | $1.85B | $1.80B | $648.1M | $806.5M |
| Retained Earnings | -$347.4M | -$443.8M | -$488.6M | -$668.2M | -$935.4M | -$1.19B | -$1.54B | -$1.71B | -$1.84B | -$1.91B |
| Total Equity | -$286.5M | $193.5M | $264.6M | $82.9M | -$5.0M | $666.7M | $739.5M | $1.07B | $2.78B | $2.95B |
| Total Debt | 0 | 0 | $216.9M | $922.9M | $979.2M | $1.18B | $1.18B | $1.18B | $36.5M | $32.9M |
| Net Debt | -$116.5M | -$279.0M | -$249.1M | -$63.6M | $21.4M | -$642.6M | -$651.8M | -$831.4M | -$2.30B | -$2.35B |
| Working Capital | $60.7M | $204.7M | $401.6M | $870.8M | $787.3M | $1.59B | $1.65B | $1.92B | $2.36B | $2.45B |
Balance Sheet (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Cash & Equivalents | $834.1M | $1.08B | $1.04B | $1.00B |
| Total Assets | $3.57B | $3.76B | $3.69B | $3.78B |
| Total Liabilities | $678.2M | $806.5M | $757.7M | $797.7M |
| Total Equity | $2.89B | $2.95B | $2.93B | $2.98B |
| Total Debt | $34.6M | $32.9M | $30.4M | $28.6M |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Net Income | -$70.1M | -$84.0M | -$99.0M | -$175.5M | -$266.9M | -$306.9M | -$345.4M | -$176.6M | -$129.1M | -$71.2M |
| Depreciation & Amortization | $3.8M | $3.7M | $5.8M | $19.8M | $24.5M | $24.5M | $29.2M | $32.1M | $27.0M | $26.4M |
| Stock-based Compensation | $21.0M | $21.2M | $37.4M | $75.8M | $149.3M | $251.1M | $381.5M | $456.9M | $493.9M | $550.5M |
| Change in Working Capital | $7.3M | $14.7M | $13.7M | $26.6M | $1.5M | $27.8M | -$74.5M | -$149.0M | -$200.3M | -$747,000 |
| Operating Cash Flow | -$38.1M | -$44.9M | -$42.0M | -$29.5M | -$42.7M | $7.0M | -$13.0M | $121.5M | $150.2M | $505.1M |
| Capital Expenditure | -$1.7M | -$2.1M | -$6.8M | -$3.6M | -$11.8M | -$8.1M | -$7.2M | -$6.1M | -$29.6M | -$5.0M |
| Acquisitions | 0 | 0 | -$55.5M | -$38.6M | 0 | -$4.5M | 0 | -$15.0M | 0 | -$2.0M |
| Stock Repurchased | -$48,000 | -$242,000 | -$327,000 | -$43,000 | -$11,000 | 0 | 0 | 0 | 0 | -$400.3M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$39.8M | -$47.0M | -$48.8M | -$33.1M | -$54.4M | -$1.1M | -$20.2M | $115.4M | $120.6M | $500.2M |
Cash Flow (Quarterly)
| Year | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Operating Cash Flow | $151.8M | $179.6M | $201.6M | $141.9M |
| Capital Expenditure | -$1.7M | -$1.1M | -$2.3M | -$2.5M |
| Free Cash Flow | $150.2M | $178.5M | $199.3M | $139.4M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $133.6M | $144.0M | $137.8M | $148.9M |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Revenue Growth (YoY) | | +52.4% | +72.8% | +57.9% | +40.0% | +48.0% | +47.0% | +31.1% | +19.2% | +22.8% |
| Net Income Growth (YoY) | | -11.2% | -2.8% | -77.3% | -52.1% | -15.0% | -12.6% | +48.9% | +26.9% | +44.9% |
| EPS Growth (YoY) | | +9.8% | +2.1% | -65.3% | -44.3% | -4.9% | -5.9% | +50.7% | +30.2% | +49.1% |
| Shares Change (YoY) | | +23.2% | +4.8% | +7.5% | +5.4% | +9.5% | +6.3% | +3.8% | +4.6% | +9.0% |
| FCF Growth (YoY) | | -18.2% | -3.9% | +32.2% | -64.5% | +98.0% | -1,751.1% | +670.9% | +4.5% | +314.6% |
| Gross Margin | 70.5% | 72.3% | 72.4% | 70.3% | 70.0% | 70.3% | 72.8% | 74.8% | 73.3% | 71.7% |
| Operating Margin | -84.8% | -62.9% | -36.6% | -35.1% | -35.5% | -33.1% | -27.0% | -13.9% | -10.8% | -5.6% |
| EBITDA Margin | -65.6% | -51.1% | -32.9% | -32.1% | -30.8% | -30.6% | -22.9% | -7.3% | -4.8% | -1.2% |
| Net Margin | -85.5% | -62.4% | -37.1% | -41.6% | -45.2% | -35.1% | -26.9% | -10.5% | -6.4% | -2.9% |
| FCF Margin | -39.2% | -30.4% | -18.3% | -7.8% | -9.2% | -0.1% | -1.6% | 6.9% | 6.0% | 20.3% |
| Effective Tax Rate | -0.8% | -1.4% | 3.2% | 0.4% | -1.6% | -1.3% | -3.6% | -8.0% | 1.9% | -27.8% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF Per Share | -$0.99 | -$0.95 | -$0.94 | -$0.59 | -$0.92 | -$0.02 | -$0.29 | $1.62 | $1.62 | $6.16 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | 40.3 M | 49.6 M | 52.0 M | 55.9 M | 59.0 M | 64.6 M | 68.6 M | 71.2 M | 74.6 M | 81.2 M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | 2.00% |
| Return on Invested Capital | -0.36% |
| Return on Assets | 1.56% |
| Gross Margin | 72.69% |
| Operating Margin | -0.52% |
| Net Margin | 2.12% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 4.87 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 23.05 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -14.92 | -13.97 | -48.61 | -52.20 | -82.75 | -85.29 | -42.59 | -161.50 | -157.99 | -421.97 |
| P/B | -4.51 | 6.95 | 18.17 | 110.66 | -4,393.32 | 39.23 | 19.88 | 26.69 | 7.32 | 10.22 |
| P/S | 12.75 | 8.71 | 18.00 | 21.74 | 37.45 | 29.93 | 11.45 | 16.96 | 10.16 | 12.25 |
| Gross Margin | 70.5% | 72.3% | 72.4% | 70.3% | 70.0% | 70.3% | 72.8% | 74.8% | 73.3% | 71.7% |
| Operating Margin | -84.8% | -62.9% | -36.6% | -35.1% | -35.5% | -33.1% | -27.0% | -13.9% | -10.8% | -5.6% |
| Net Margin | -85.5% | -62.4% | -37.1% | -41.6% | -45.2% | -35.1% | -26.9% | -10.5% | -6.4% | -2.9% |