Company / Stock (250)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 215 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 ($222.0M PV of FCF + $748.9M PV of Terminal Value)
| DCF Cash Flow Line | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|
| Projected Revenue | $886.5M | $1.09B | $1.34B | $1.65B | $2.03B | $2.49B |
| Operating EBIT | -$709.2M | -$872.1M | -$1.07B | -$1.32B | -$1.62B | -$1.99B |
| Unlevered Free Cash Flow (FCF) | $31.4M (4%) | $38.6M (4%) | $47.5M (4%) | $58.4M (4%) | $71.8M (4%) | $88.2M (4%) |
| Discounted PV of FCF (@ 10.0% WACC) | $28.5M | $31.9M | $35.7M | $39.9M | $44.6M | $49.8M |
| WACC \ Term g | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $1.75 | $2.17 | $2.66 | $3.25 | $3.97 |
| 9.0% | $0.91 | $1.21 | $1.55 | $1.95 | $2.43 |
| 10.0% | $0.27 | $0.49 | $0.74 | $1.03 | $1.36 |
| 11.0% | -$0.24 | -$0.07 | $0.12 | $0.34 | $0.58 |
| 12.0% | -$0.64 | -$0.51 | -$0.36 | -$0.20 | -$0.02 |
Synchronized directly with the 3-Year Operating Statement (70.0% Gross Margin · 23.0% Growth · 103.1% SBC/Rev)
| Income Statement Line | FY23ASEC 10-K | FY24ASEC 10-K | FY25ASEC 10-K | Year 1 (2026)Forecast | Year 2 (2027)Forecast | Year 3 (2028)Forecast |
|---|---|---|---|---|---|---|
| Revenue | $599.8M | $627.9M | $886.5M | $886.5M | $1.09B | $1.34B |
| YoY Revenue Growth (%) | 18.5% | 4.7% | 41.2% | 23.0% | 23.0% | 23.0% |
| Cost of Revenue (COGS) | ($279.6M) | ($238.2M) | ($265.7M) | ($265.8M) | ($321.4M) | ($388.5M) |
| Gross Profit & Margin | $320.3M (53.4%) | $389.7M (62.1%) | $620.8M (70.0%) | $620.8M (70.0%) | $768.8M (70.5%) | $952.1M (71.0%) |
| Research & Development (R&D) | — | — | — | $531.6M | $627.6M | $739.6M |
| Sales & Marketing (S&M) | — | — | — | $795.1M | $938.6M | $1.11B |
| General & Administrative (G&A) | — | — | — | $428.1M | $505.4M | $595.6M |
| Operating EBIT | -$261.5M (-43.6%) | -$306.5M (-48.8%) | -$1.13B (-127.9%) | -$1.13B (-127.9%) | -$1.30B (-119.5%) | -$1.49B (-111.1%) |
| Adjusted EBITDA | — | — | — | -$1.11B (-124.7%) | -$1.27B (-116.2%) | -$1.45B (-107.8%) |
Rubrik, Inc. (RBRK) earns a "Pass" rating and an institutional Quality Score of 44/100 (Grade C). On $886.5M in baseline revenue (23.0% growth, 70.0% gross margin, 3.5% FCF margin), our 5-year DCF yields an Enterprise Value of $970.8M ($0.74/share vs. $76.48 market price). On the R&D Return Benchmark, RBRK ranks #32 of 167 (Compounders · Grade AA, 0.82× return).
Gross Margin & Unit Economics: Rubrik, Inc. operates at a 70.0% gross margin on $886.5M revenue (+2.7 pts above the Data Security & Cloud Backup median of 67.3%).
R&D Productivity (Compounders · Grade AA): Investing 28.4% of revenue in R&D ($373.7M) generates $0.82 of incremental gross profit per R&D dollar (Rank #32 of 167).
Rule of 40 & Cash Conversion: Combining 23.0% top-line growth with 3.5% FCF margin yields a 26.5% Rule of 40 score (vs. 38.9% cohort median) and $970.8M 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)
RBRK: Compounder, AA
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: 14.1% Growth · 67.3% Gross Margin · 17.6% Unlevered FCF · 13.0% GAAP FCF · 38.9% Rule of 40 · 10.4× EV/Rev
| Company | Actions | |||||||
|---|---|---|---|---|---|---|---|---|
RBRKRubrik, Inc.Subject | $886.5M | 23.0% | 70.0% | 3.5% | -99.5% | 26.5% | 18.2× | Active |
Microsoft Corporation | $346.44B | 13.7% | 67.7% | 17.3% | 13.7% | 31.1% | 11.4× | |
Oracle | $71.78B | 12.2% | 65.8% | -40.0% | -46.7% | -27.8% | 5.3× | |
SAP SE | $34.18B | 7.6% | 73.0% | 12.9% | 12.9% | 20.5% | 8.3× | |
SHOPIFY INC. | $8.88B | 31.9% | 50.4% | 18.0% | 13.1% | 49.9% | 22.7× | |
INTUIT INC. | $18.83B | 14.5% | 80.8% | 32.3% | 21.9% | 46.8% | 9.4× | |
Snowflake Inc. | $5.43B | 40.0% | 67.0% | 22.0% | -8.2% | 62.0% | 20.9× | |
| Peer Set Median (6 Peers) | $26.50B | 14.1% | 67.3% | 17.6% | 13.0% | 38.9% | 10.4× | =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 70.0% to 75.0%.
Align R&D intensity and ASC 350-40 capitalization to the R&D Compounders cohort median, recapturing $47.8M in annual EBITDA.
Lift net dollar retention and expansion velocity by +300 bps, compounding Year 3 revenue to $1.41B.
Weak cash conversion, substantial dilution drag, or constrained financial flexibility.
Positive FCF but lower conversion efficiency due to capex or timing
Severe dilution; heavy SBC shields GAAP losses while diluting common equity
Solid gross margins with potential for operating leverage at scale
Moderate leverage or cash burn; monitor liquidity runway
The current share price demands 64.4% 5-year CAGR (107.4% net of SBC & dilution)—a +41.4% acceleration over historical run-rate (23.0%). Any growth slowdown risks valuation multiple contraction.
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 | 18.2× | $16.13B | $15.31B | $76.48 | 0.0% |
| -20% Multiple Compression | 14.6× | $12.90B | $12.08B | $60.36 | -20.0% |
| -35% Multiple Compression | 11.8× | $10.48B | $9.66B | $48.27 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $4.43B | $3.61B | $18.04 | -72.5% |