Is MongoDB Stock Outperforming Its Rivals?
MongoDB (MDB) stock has delivered a strong 12-month market return, outperforming several peers as of December 2, 2025. A closer look reveals industry-leading revenue growth and a positive free cash flow margin for MDB. However, it grapples with negative operating margins and an unfavorable negative P/E ratio, indicating ongoing profitability challenges compared to tech giants like Microsoft and Google, especially amidst the competitive cloud and data landscape.
- Operating Margin: MDB’s -7.5% operating margin, lowest among peers (MSFT 46.3%), reflects significant investment in Atlas cloud growth, common for high-growth SaaS companies.
- Revenue Growth: MDB’s 21.9% revenue growth, outpacing MSFT, GOOGL, AMZN, ORCL, IBM, is driven by strong Atlas cloud demand and AI tailwinds, signaling specialized market leadership.
- Stock Performance: MDB’s 23.6% stock gain and -216.5 PE, with peers like GOOGL, IBM delivering stronger returns, indicates growth prioritization over immediate GAAP profit for cloud stocks.
Here’s how MongoDB stacks up across size, valuation, and profitability versus key peers.
| MDB | MSFT | GOOGL | AMZN | ORCL | IBM | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 32.6 | 3,642.2 | 3,816.9 | 2,493.5 | 568.3 | 281.8 |
| Revenue ($ Bil) | 2.2 | 293.8 | 385.5 | 670.0 | 59.0 | 65.4 |
| PE Ratio | -216.5 | 36.7 | 23.6 | 33.1 | 49.7 | 33.3 |
| LTM Revenue Growth | 21.9% | 15.6% | 13.4% | 10.9% | 9.7% | 4.5% |
| LTM Operating Margin | -7.5% | 46.3% | 32.2% | 11.4% | 31.6% | 17.7% |
| LTM FCF Margin | 10.8% | 26.6% | 19.1% | 2.0% | -10.0% | 18.1% |
| 12M Market Return | 23.6% | 14.5% | 85.0% | 11.3% | 12.0% | 36.1% |
For more details on MongoDB, read Buy or Sell MDB Stock. Below we compare MDB’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MDB | 21.9% | 19.2% | 31.1% | 47.0% | |
| MSFT | 15.6% | 14.9% | 15.7% | 6.9% | |
| GOOGL | 13.4% | – | 13.9% | 8.7% | 9.8% |
| AMZN | 10.9% | – | 11.0% | 11.8% | 9.4% |
| ORCL | 9.7% | 8.4% | 6.0% | 17.7% | |
| IBM | 4.5% | – | 1.4% | 2.2% | 5.5% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MDB | -7.5% | -10.8% | -13.9% | -27.0% | |
| MSFT | 46.3% | 45.6% | 44.6% | 41.8% | |
| GOOGL | 32.2% | – | 32.1% | 27.4% | 26.5% |
| AMZN | 11.4% | – | 10.8% | 6.4% | 2.4% |
| ORCL | 31.6% | 31.5% | 30.3% | 27.6% | |
| IBM | 17.7% | – | 16.1% | 15.9% | 13.5% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MDB | -216.5 | -134.5 | -164.9 | -39.1 | |
| MSFT | 36.7 | 30.8 | 31.7 | 24.7 | |
| GOOGL | 23.6 | – | 23.3 | 23.9 | 19.2 |
| AMZN | 33.1 | – | 38.8 | 51.5 | -314.4 |
| ORCL | 49.7 | 37.4 | 27.6 | 25.9 | |
| IBM | 33.3 | – | 33.6 | 19.9 | 77.5 |
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