Company / Stock (167)3-Year Statement
Golden Door Asset's Financial Engine connects audited SEC 10-K/10-Q income statements, balance sheets, and cash flow statements to a deterministic 5-year unlevered DCF valuation, Reverse-DCF implied growth solver, ASC 350-40 software capitalization bridge, and 1-year lagged R&D capital efficiency benchmark across 167 public software companies (167 ranked in the R&D Return universe).
Discounting 5-year unlevered FCF at 10.0% WACC and 2.5% terminal growth ($4.55B PV of FCF + $11.44B PV of Terminal Value)
| DCF Cash Flow Line | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|
| Projected Revenue | $2.56B | $2.71B | $2.86B | $3.02B | $3.19B | $3.36B |
| Operating EBIT | $875.9M | $924.7M | $976.2M | $1.03B | $1.09B | $1.15B |
| Unlevered Free Cash Flow (FCF) | $1.03B (40%) | $1.09B (40%) | $1.15B (40%) | $1.21B (40%) | $1.28B (40%) | $1.35B (40%) |
| Discounted PV of FCF (@ 10.0% WACC) | $934.8M | $897.2M | $861.0M | $826.4M | $793.1M | $761.1M |
| WACC \ Term g | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $182.15 | $193.95 | $207.90 | $224.63 | $245.09 |
| 9.0% | $158.01 | $166.46 | $176.21 | $187.58 | $201.03 |
| 10.0% | $139.57 | $145.86 | $152.98 | $161.13 | $170.53 |
| 11.0% | $125.02 | $129.84 | $135.23 | $141.30 | $148.17 |
| 12.0% | $113.25 | $117.04 | $121.23 | $125.88 | $131.09 |
Synchronized directly with the 3-Year Operating Statement (87.5% Gross Margin · 5.6% Growth · 5.8% SBC/Rev)
| Income Statement Line | FY22ASEC 10-K | FY23ASEC 10-K | FY24ASEC 10-K | Year 1 (2026)Forecast | Year 2 (2027)Forecast | Year 3 (2028)Forecast |
|---|---|---|---|---|---|---|
| Revenue | $2.33B | $2.41B | $2.56B | $2.56B | $2.71B | $2.86B |
| YoY Revenue Growth (%) | 7.5% | 3.6% | 6.2% | 5.6% | 5.6% | 5.6% |
| Cost of Revenue (COGS) | ($304.4M) | ($282.6M) | ($319.3M) | ($319.3M) | ($323.5M) | ($327.3M) |
| Gross Profit & Margin | $2.03B (86.9%) | $2.13B (88.3%) | $2.25B (87.5%) | $2.25B (87.5%) | $2.38B (88.0%) | $2.53B (88.5%) |
| Research & Development (R&D) | — | — | — | $394.9M | $400.2M | $404.9M |
| Sales & Marketing (S&M) | — | — | — | $633.6M | $642.2M | $649.7M |
| General & Administrative (G&A) | — | — | — | $341.2M | $345.8M | $349.8M |
| Operating EBIT | $884.3M (38.0%) | $899.1M (37.2%) | $876.0M (34.1%) | $876.0M (34.1%) | $996.2M (36.8%) | $1.13B (39.4%) |
| Adjusted EBITDA | — | — | — | $958.1M (37.4%) | $1.08B (40.0%) | $1.22B (42.6%) |
CHECK POINT SOFTWARE TECHNOLOGIES LTD (CHKP) earns a "Buy" rating and an institutional Quality Score of 90/100 (Grade A+). On $2.56B in baseline revenue (5.6% growth, 87.6% gross margin, 40.1% FCF margin), our 5-year DCF yields an Enterprise Value of $16.00B ($152.98/share vs. $185.10 market price). On the R&D Return Benchmark, CHKP ranks #115 of 167 (Faders · Grade CCC, 0.30× return).
Gross Margin & Unit Economics: CHECK POINT SOFTWARE TECHNOLOGIES LTD operates at a 87.6% gross margin on $2.56B revenue (+11.5 pts above the Cybersecurity & Identity median of 76.1%).
R&D Productivity (Faders · Grade CCC): Investing 16.8% of revenue in R&D ($456.7M) generates $0.30 of incremental gross profit per R&D dollar (Rank #115 of 167).
Rule of 40 & Cash Conversion: Combining 5.6% top-line growth with 40.1% FCF margin yields a 45.7% Rule of 40 score (vs. 53.8% cohort median) and $16.00B DCF Enterprise Value.
Measures incremental gross profit generated per prior-year R&D dollar across 167 scored software companies
x = R&D % of revenue (FY) · y = new gross profit per R&D dollar (FY)
CHKP: Fader, CCC
Hover or tap a dot to inspect peer R&D intensity and return
Intensity = R&D ÷ revenue from the same period. The grade uses TTM when that period end is fresh; otherwise the latest fiscal year if that end is fresh; otherwise the name is ungraded. Bands describe spend level, not quality.
As of 2026-10-22.
Active Medians: 24.4% Growth · 76.1% Gross Margin · 30.7% Unlevered FCF · 13.6% GAAP FCF · 53.8% Rule of 40 · 11.5× EV/Rev
| Company | Actions | |||||||
|---|---|---|---|---|---|---|---|---|
CHKPCHECK POINT SOFTWARE TECHNOLOGIES LTDSubject | $2.56B | 5.6% | 87.5% | 40.1% | 34.3% | 45.7% | 7.6× | Active |
CrowdStrike | $5.40B | 34.9% | 75.3% | 29.8% | 6.8% | 64.7% | 49.8× | |
Palo Alto Networks Inc | $11.48B | 20.2% | 70.4% | 35.8% | 20.4% | 56.0% | 27.1× | |
Fortinet, Inc. | $5.96B | 16.1% | 80.6% | 31.6% | 27.2% | 47.7% | 9.9× | |
Zscaler, Inc. | $2.67B | 28.6% | 76.9% | 27.2% | 2.5% | 55.8% | 13.0× | |
Qualys, Inc. | $607.6M | 13.8% | 81.7% | 38.1% | 25.4% | 51.9% | 7.7× | |
SentinelOne, Inc. | $821.5M | 39.5% | 74.3% | 0.8% | -31.8% | 40.3% | 5.8× | |
| Peer Set Median (6 Peers) | $4.03B | 24.4% | 76.1% | 30.7% | 13.6% | 53.8% | 11.5× | =MEDIAN() |
Structural sensitivities monitored in the 3-Statement Financial Engine
Apply any lever below to write its operating assumptions directly into the 3-Statement Model
Automate cloud hosting & support workflows to lift gross margin from 87.6% to 92.0%.
Align R&D intensity and ASC 350-40 capitalization to the R&D Compounders cohort median, recapturing $51.3M in annual EBITDA.
Lift net dollar retention and expansion velocity by +300 bps, compounding Year 3 revenue to $3.02B.
Exceptional unit economics, disciplined equity dilution, and fortress balance sheet.
Strong cash conversion; 100%+ of operating profit turns into free cash
Disciplined equity compensation well below software industry average
Elite Tier-1 SaaS compounder with high gross margin and superior Rule of 40
Positive net cash cushion; self-funding operations with zero insolvency risk
Market implies 10.3% annual revenue growth over next 5 years (13.1% dilution-adjusted), in line with company run-rate.
Evaluates shareholder equity vulnerability if SaaS valuation multiples contract toward historical industry medians.
| Multiple Contraction Scenario | EV / Rev | Implied EV | Implied Equity | Implied Price | Downside % |
|---|---|---|---|---|---|
| Current Multiple | 7.6× | $19.45B | $19.93B | $185.10 | 0.0% |
| -20% Multiple Compression | 6.1× | $15.56B | $16.04B | $148.96 | -20.0% |
| -35% Multiple Compression | 4.9× | $12.64B | $13.12B | $121.86 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $12.83B | $13.30B | $123.54 | -34.1% |