MongoDB, Inc. (MDB)
NEUTRALファンダメンタル
53
株価
$404.61
時価総額
$32.39B
パート1 · 企業の価値
概要
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.
収益の仕組み
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.
セグメント別売上高
The cloud-hosted, consumption-billed version of the database that MongoDB runs for customers — the fast-growing majority of revenue.
Software licensed for customers to install and run on their own infrastructure, a legacy business now in decline as customers move to Atlas.
競争優位性（moat）
スイッチングコスト · 狭い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.
需要を左右する要因
中程度の景気循環性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.
主なリスク
- 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.
顧客集中度
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.
強気材料
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.
弱気材料
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.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$2.60B
直近12か月（2026/4/30まで）
純利益
$-29M
直近12か月（2026/4/30まで）
フリーキャッシュフロー
$500M
自己資本合計
$2.95B
負債合計
$806M
流動比率
4.95
利払い倍率
37.12
負債/EBITDA
-
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$271.64
現在株価
$404.61
安全マージン
-49.0%
適正価値レンジ
$176.57 - $366.71
推定方法
バリュエーション指標
P/E レシオ
-
ROE
-2.4%
P/B レシオ
11.04
P/FCF
54.79
粗利益率
72.0%
ROIC
-2.8%
収益性レーダー
Value Creation (Economic Moat)
ROIC
-2.8%
WACC
13.9%
ROIC − WACC
-16.7 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格（13）
- EPS shows upward trend
- Price CAGR 34.62%
- Gross Margin 72.0%
- 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 34.2%
- Net Margin Trend -1.1% vs -4.1%
不合格（9）
- ROIC -2.8%
- P/FCF 54.79
- P/B Ratio 11.04
- Operating Margin -4.2%
- Return on Tangible Assets
- DCF valuation (Overvalued)
- ROE -1.0%
- Share Dilution 8.4%
- Piotroski F-Score 4/9
データなし（5）
- Dividend Payout NaN%
- Debt/EBITDA
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-スコア
まちまちのシグナル：一部の領域に注意が必要
利益の質
低品質：会計処理を調査してください
株式希薄化
新株を発行しており、所有権を希薄化している
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Chirantan Jitendra Desai | President, CEO & Director | 54 |
| Mr. Dwight A. Merriman | Co-Founder & Director | 56 |
| Mr. Michael J. Berry | CFO & Principal Financial Officer | 62 |
| Mr. Kong Phan | Chief Accounting Officer & Principal Accounting Officer | 42 |
| Mr. Jim Scharf | Chief Technology Officer | - |
| Ms. Deepa Gopinath | Chief Information Officer | - |
| Mr. Jess Ian Lubert | Vice President of Investor Relations | - |
| Mr. Andrew Stephens | Chief Legal Officer, General Counsel & Corporate Secretary | - |
| Ms. May Petry | Chief Marketing Officer | - |
| Ms. Harsha Jalihal | Chief People Officer | - |
監査リスク
1
取締役会リスク
6
報酬リスク
7
株主権利リスク
5
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for MDB, sourced from Markets Gazette.
- 5/28/2026NEUTRALMongoDB 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.
- 5/28/2026POSITIVEMongoDB 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.
- 5/27/2026POSITIVEMongoDB 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.
- 3/3/2026NEGATIVEMongoDB 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.
- 3/3/2026NEUTRALMongoDB (MDB) Q4 2026 Earnings Call Transcript
Investors in MongoDB (MDB) have been focused on the release of the Q4 2026 earnings call transcript. While specific details of the results and projections were not available at the time, the event represents a crucial moment for assessing the company's performance. Earnings calls are fundamental for understanding a company's financial health, future strategies, and growth prospects, directly influencing investment decisions. The market eagerly awaits the information that will emerge to calibrate its expectations for the stock, maintaining a cautious stance in the absence of concrete data.
via Markets Gazette