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 251 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 ($70.8M PV of FCF + $294.5M PV of Terminal Value)
| DCF Cash Flow Line | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|
| Projected Revenue | $821.5M | $1.15B | $1.60B | $2.23B | $3.11B | $4.34B |
| Operating EBIT | -$329.3M | -$459.4M | -$640.8M | -$893.8M | -$1.25B | -$1.74B |
| Unlevered Free Cash Flow (FCF) | $6.6M (1%) | $9.2M (1%) | $12.8M (1%) | $17.8M (1%) | $24.9M (1%) | $34.7M (1%) |
| Discounted PV of FCF (@ 10.0% WACC) | $6.0M | $7.6M | $9.6M | $12.2M | $15.4M | $19.6M |
| WACC \ Term g | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $1.79 | $1.89 | $2.01 | $2.15 | $2.33 |
| 9.0% | $1.59 | $1.66 | $1.75 | $1.84 | $1.96 |
| 10.0% | $1.44 | $1.49 | $1.55 | $1.62 | $1.70 |
| 11.0% | $1.32 | $1.36 | $1.40 | $1.46 | $1.51 |
| 12.0% | $1.22 | $1.25 | $1.29 | $1.33 | $1.37 |
Synchronized directly with the 3-Year Operating Statement (74.3% Gross Margin · 39.5% Growth · 32.6% 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 | $422.2M | $621.2M | $821.5M | $821.5M | $1.15B | $1.60B |
| YoY Revenue Growth (%) | — | 47.1% | 32.3% | 39.5% | 39.5% | 39.5% |
| Cost of Revenue (COGS) | ($144.2M) | ($178.6M) | ($211.1M) | ($211.1M) | ($288.8M) | ($394.8M) |
| Gross Profit & Margin | $278.0M (65.8%) | $442.6M (71.3%) | $610.4M (74.3%) | $610.3M (74.3%) | $857.1M (74.8%) | $1.20B (75.3%) |
| Research & Development (R&D) | — | — | — | $267.0M | $357.5M | $478.0M |
| Sales & Marketing (S&M) | — | — | — | $437.3M | $585.5M | $782.7M |
| General & Administrative (G&A) | — | — | — | $235.4M | $315.3M | $421.5M |
| Operating EBIT | -$402.6M (-95.4%) | -$378.4M (-60.9%) | -$329.4M (-40.1%) | -$329.4M (-40.1%) | -$401.3M (-35.0%) | -$478.6M (-29.9%) |
| Adjusted EBITDA | — | — | — | -$286.6M (-34.9%) | -$341.6M (-29.8%) | -$395.4M (-24.7%) |
SentinelOne, Inc. (S) earns a "Watch" rating and an institutional Quality Score of 59/100 (Grade B). On $821.5M in baseline revenue (39.5% growth, 74.3% gross margin, 0.8% FCF margin), our 5-year DCF yields an Enterprise Value of $365.3M ($1.55/share vs. $15.00 market price). On the R&D Return Benchmark, S ranks #80 of 167 (Compounders · Grade BB, 0.49× return).
Gross Margin & Unit Economics: SentinelOne, Inc. operates at a 74.3% gross margin on $821.5M revenue (2.8 pts below the Cybersecurity & Identity median of 77.1%).
R&D Productivity (Compounders · Grade BB): Investing 32.3% of revenue in R&D ($323.9M) generates $0.49 of incremental gross profit per R&D dollar (Rank #80 of 167).
Rule of 40 & Cash Conversion: Combining 39.5% top-line growth with 0.8% FCF margin yields a 40.3% Rule of 40 score (vs. 53.8% cohort median) and $365.3M 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)
S: Compounder, BB
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: 18.1% Growth · 77.1% Gross Margin · 32.6% Unlevered FCF · 22.9% GAAP FCF · 53.8% Rule of 40 · 11.5× EV/Rev
| Company | Actions | |||||||
|---|---|---|---|---|---|---|---|---|
SSentinelOne, Inc.Subject | $821.5M | 39.5% | 74.3% | 0.8% | -31.8% | 40.3% | 5.8× | 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× | |
Gen Digital Inc. | $5.23B | 15.6% | 77.4% | 33.7% | 29.4% | 49.4% | 4.7× | |
| Peer Set Median (6 Peers) | $5.31B | 18.1% | 77.1% | 32.6% | 22.9% | 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 74.3% to 79.3%.
Align R&D intensity and ASC 350-40 capitalization to the R&D Compounders cohort median, recapturing $76.7M in annual EBITDA.
Lift net dollar retention and expansion velocity by +300 bps, compounding Year 3 revenue to $1.67B.
Viable recurring software business but carries notable dilution, lower margins, or higher leverage.
Positive FCF but lower conversion efficiency due to capex or timing
Severe dilution; heavy SBC shields GAAP losses while diluting common equity
High-quality software margins with healthy balanced growth and profitability
Positive net cash cushion; self-funding operations with zero insolvency risk
The current share price only requires 29.0% 5-year CAGR (67.6% dilution-adjusted), well below historical growth of 39.5%. If the company maintains baseline execution, there is asymmetric upside.
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 | 5.8× | $4.76B | $4.90B | $15.00 | 0.0% |
| -20% Multiple Compression | 4.6× | $3.81B | $3.95B | $12.09 | -20.0% |
| -35% Multiple Compression | 3.8× | $3.09B | $3.24B | $9.90 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $4.11B | $4.25B | $13.00 | -13.7% |