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 ($42.16B PV of FCF + $130.84B PV of Terminal Value)
| DCF Cash Flow Line | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|
| Projected Revenue | $43.98B | $51.66B | $60.68B | $71.27B | $83.71B | $98.33B |
| Operating EBIT | $2.80B | $3.29B | $3.86B | $4.53B | $5.32B | $6.25B |
| Unlevered Free Cash Flow (FCF) | $6.90B (16%) | $8.10B (16%) | $9.51B (16%) | $11.18B (16%) | $13.13B (16%) | $15.42B (16%) |
| Discounted PV of FCF (@ 10.0% WACC) | $6.27B | $6.69B | $7.15B | $7.63B | $8.15B | $8.70B |
| WACC \ Term g | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $98.23 | $105.22 | $113.48 | $123.40 | $135.52 |
| 9.0% | $84.02 | $89.02 | $94.80 | $101.54 | $109.50 |
| 10.0% | $73.18 | $76.90 | $81.13 | $85.95 | $91.52 |
| 11.0% | $64.64 | $67.50 | $70.70 | $74.29 | $78.36 |
| 12.0% | $57.75 | $60.00 | $62.48 | $65.24 | $68.32 |
Synchronized directly with the 3-Year Operating Statement (39.4% Gross Margin · 17.5% Growth · 4.1% 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 | $31.88B | $37.28B | $43.98B | $43.98B | $51.66B | $60.68B |
| YoY Revenue Growth (%) | — | 16.9% | 18.0% | 17.5% | 17.5% | 17.5% |
| Cost of Revenue (COGS) | ($19.66B) | ($22.46B) | ($26.65B) | ($26.65B) | ($31.05B) | ($36.16B) |
| Gross Profit & Margin | $12.22B (38.3%) | $14.82B (39.8%) | $17.33B (39.4%) | $17.33B (39.4%) | $20.61B (39.9%) | $24.51B (40.4%) |
| Research & Development (R&D) | — | — | — | $3.11B | $3.51B | $3.95B |
| Sales & Marketing (S&M) | — | — | — | $7.42B | $8.37B | $9.42B |
| General & Administrative (G&A) | — | — | — | $4.00B | $4.51B | $5.07B |
| Operating EBIT | -$1.83B (-5.8%) | $1.11B (3.0%) | $2.80B (6.4%) | $2.80B (6.4%) | $4.23B (8.2%) | $6.07B (10.0%) |
| Adjusted EBITDA | — | — | — | $3.54B (8.0%) | $5.09B (9.9%) | $7.09B (11.7%) |
Uber Technologies, Inc (UBER) earns a "Watch" rating and an institutional Quality Score of 70/100 (Grade B+). On $43.98B in baseline revenue (17.5% growth, 39.4% gross margin, 15.7% FCF margin), our 5-year DCF yields an Enterprise Value of $173.00B ($81.13/share vs. $82.50 market price). On the R&D Return Benchmark, UBER ranks #21 of 167 (Harvesters · Grade AA, 1.08× return).
Gross Margin & Unit Economics: Uber Technologies, Inc operates at a 39.4% gross margin on $43.98B revenue (36.7 pts below the Software & Cloud Services median of 76.1%).
R&D Productivity (Harvesters · Grade AA): Investing 6.5% of revenue in R&D ($3.40B) generates $1.08 of incremental gross profit per R&D dollar (Rank #21 of 167).
Rule of 40 & Cash Conversion: Combining 17.5% top-line growth with 15.7% FCF margin yields a 33.1% Rule of 40 score (vs. 50.5% cohort median) and $173.00B 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)
UBER: Harvester, 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: 23.5% Growth · 76.1% Gross Margin · 28.9% Unlevered FCF · 10.4% GAAP FCF · 50.5% Rule of 40 · 6.3× EV/Rev
| Company | Actions | |||||||
|---|---|---|---|---|---|---|---|---|
UBERUber Technologies, IncSubject | $43.98B | 17.5% | 39.4% | 15.7% | 11.6% | 33.1% | 4.0× | Active |
ServiceNow | $15.43B | 22.5% | 73.1% | 30.8% | 15.7% | 53.3% | 7.6× | |
Workday, Inc. | $10.15B | 16.8% | 75.0% | 28.0% | 11.8% | 44.8% | 5.0× | |
Salesforce | $43.94B | 11.9% | 77.3% | 34.5% | 26.1% | 46.4% | 5.0× | |
Datadog | $3.97B | 35.1% | 79.5% | 29.8% | 9.1% | 64.9% | 24.8× | |
Snowflake Inc. | $5.43B | 40.0% | 67.0% | 22.0% | -8.2% | 62.0% | 20.9× | |
Hubspot | $3.45B | 24.6% | 83.3% | 23.1% | 8.2% | 47.7% | 3.2× | |
| Peer Set Median (6 Peers) | $7.79B | 23.5% | 76.1% | 28.9% | 10.4% | 50.5% | 6.3× | =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 39.4% to 44.4%.
Align R&D intensity and ASC 350-40 capitalization to the R&D Compounders cohort median, recapturing $879.6M in annual EBITDA.
Lift net dollar retention and expansion velocity by +300 bps, compounding Year 3 revenue to $63.81B.
Solid software model with clear operating leverage, partially offset by standard SBC or moderate burn.
Elite deferred revenue float; FCF exceeds operating income by >20%
Minimal dilution friction; management compensation aligned with shareholders
Sub-par gross margins; higher cost of delivery or hardware/services mix
Moderate leverage or cash burn; monitor liquidity runway
Market implies 17.9% annual revenue growth over next 5 years (27.2% 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 | 4.0× | $175.84B | $171.41B | $82.50 | 0.0% |
| -20% Multiple Compression | 3.2× | $140.67B | $136.24B | $65.57 | -20.0% |
| -35% Multiple Compression | 2.6× | $114.30B | $109.87B | $52.88 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $219.89B | $215.46B | $103.69 | +25.1% |