Forensic Analysis · Technology / Software · as of Jun 27, 2026
MongoDB, Inc. (MDB)
A forensic read on MongoDB, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
6.2
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-1.0%
ROE
$25.3B
Market cap
MongoDB, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 6.2, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-5%Return on invested capital.Return on invested capital is -5% and rising from -18% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+6.1%/yrShare-count dilution.Diluted share count changed +18% over the last 3 years to FY2026 (+6.1%/yr). The count is GROWING — existing holders are being diluted. That's ~6.1% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~18%.
22% of revStock-based comp load.Stock-based compensation ran 22% of revenue and 110% of free cash flow in FY2026 — about $6.78 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin-2.9%
Debt / Equity0.07x
Free Cash Flow$500.2M
Latest Revenue$2.46B
Return on Equity-2.4%
Revenue Growth YoY+22.8%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on MongoDB, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about MDB's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown