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 ($1.42B PV of FCF + $6.12B PV of Terminal Value)
| DCF Cash Flow Line | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|
| Projected Revenue | $308.9M | $440.2M | $627.4M | $894.1M | $1.27B | $1.82B |
| Operating EBIT | $121.5M | $173.1M | $246.7M | $351.7M | $501.2M | $714.3M |
| Unlevered Free Cash Flow (FCF) | $122.6M (40%) | $174.8M (40%) | $249.1M (40%) | $355.0M (40%) | $505.9M (40%) | $721.0M (40%) |
| Discounted PV of FCF (@ 10.0% WACC) | $111.5M | $144.4M | $187.1M | $242.4M | $314.1M | $407.0M |
| WACC \ Term g | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $63.72 | $68.37 | $73.86 | $80.44 | $88.50 |
| 9.0% | $54.36 | $57.69 | $61.52 | $66.00 | $71.29 |
| 10.0% | $47.23 | $49.71 | $52.52 | $55.72 | $59.42 |
| 11.0% | $41.64 | $43.54 | $45.66 | $48.05 | $50.75 |
| 12.0% | $37.13 | $38.62 | $40.27 | $42.10 | $44.15 |
Synchronized directly with the 3-Year Operating Statement (90.0% Gross Margin · 42.5% Growth · 0.0% SBC/Rev)
| Income Statement Line | FY23ASEC 10-K | FY24ASEC 10-K | Year 1 (2026)Forecast | Year 2 (2027)Forecast | Year 3 (2028)Forecast |
|---|---|---|---|---|---|
| Revenue | $216.7M | $308.9M | $308.9M | $440.2M | $627.4M |
| YoY Revenue Growth (%) | — | 42.5% | 42.5% | 42.5% | 42.5% |
| Cost of Revenue (COGS) | ($22.9M) | ($31.0M) | ($31.0M) | ($41.9M) | ($56.6M) |
| Gross Profit & Margin | $193.8M (89.4%) | $277.9M (90.0%) | $277.9M (90.0%) | $398.2M (90.5%) | $570.7M (91.0%) |
| Research & Development (R&D) | — | — | $64.5M | $88.3M | $120.6M |
| Sales & Marketing (S&M) | — | — | $59.7M | $81.7M | $111.6M |
| General & Administrative (G&A) | — | — | $32.2M | $44.0M | $60.1M |
| Operating EBIT | $81.6M (37.6%) | $121.5M (39.3%) | $121.5M (39.3%) | $184.2M (41.9%) | $278.4M (44.4%) |
| Adjusted EBITDA | — | — | $131.4M (42.5%) | $198.3M (45.1%) | $298.5M (47.6%) |
Wealthfront Corporation (WLTH) earns a "Buy" rating and an institutional Quality Score of 94/100 (Grade A+). On $308.9M in baseline revenue (42.5% growth, 90.0% gross margin, 39.7% FCF margin), our 5-year DCF yields an Enterprise Value of $7.54B ($52.52/share vs. $9.19 market price). On the R&D Return Benchmark, WLTH ranks #39 of 167 (Compounders · Grade A, 0.76× return).
Gross Margin & Unit Economics: Wealthfront Corporation operates at a 90.0% gross margin on $308.9M revenue (+14.9 pts above the Software - Application median of 75.1%).
R&D Productivity (Compounders · Grade A): Investing 58.2% of revenue in R&D ($212.4M) generates $0.76 of incremental gross profit per R&D dollar (Rank #39 of 167).
Rule of 40 & Cash Conversion: Combining 42.5% top-line growth with 39.7% FCF margin yields a 82.2% Rule of 40 score (vs. 59.0% cohort median) and $7.54B 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)
WLTH: Compounder, A
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: 35.8% Growth · 75.1% Gross Margin · 21.9% Unlevered FCF · 14.4% GAAP FCF · 59.0% Rule of 40 · 6.6× EV/Rev
| Company | Actions | |||||||
|---|---|---|---|---|---|---|---|---|
WLTHWealthfront CorporationSubject | $308.9M | 42.5% | 90.0% | 39.7% | 39.7% | 82.2% | 3.9× | Active |
Grab Holdings Limited | $2.80B | 56.3% | 42.0% | 27.7% | 17.7% | 84.0% | 6.3× | |
Full Truck Alliance Co. Ltd. | $11.24B | 44.5% | 86.6% | 25.8% | 21.3% | 70.2% | 5.9× | |
Figma, Inc. | $1.28B | 44.6% | 79.1% | 18.1% | -112.4% | 62.7% | 8.8× | |
InterDigital, Inc. | $868.5M | 24.7% | 80.5% | 30.6% | 25.3% | 55.3% | 9.9× | |
OPEN TEXT CORP | $5.30B | 10.8% | 63.5% | 13.0% | 11.0% | 23.8% | 2.6× | |
ServiceTitan, Inc. | $1.06B | 27.1% | 71.1% | 12.8% | -7.7% | 40.0% | 6.8× | |
| Peer Set Median (6 Peers) | $2.04B | 35.8% | 75.1% | 21.9% | 14.4% | 59.0% | 6.6× | =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 90.0% to 92.0%.
Align R&D intensity and ASC 350-40 capitalization to the R&D Compounders cohort median, recapturing $115.2M in annual EBITDA.
Lift net dollar retention and expansion velocity by +300 bps, compounding Year 3 revenue to $654.0M.
Exceptional unit economics, disciplined equity dilution, and fortress balance sheet.
Strong cash conversion; 100%+ of operating profit turns into free cash
Minimal dilution friction; management compensation aligned with shareholders
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
The current share price only requires -5.1% 5-year CAGR (-5.1% dilution-adjusted), well below historical growth of 42.5%. 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 | 3.9× | $1.21B | $1.34B | $9.19 | 0.0% |
| -20% Multiple Compression | 3.1× | $964.5M | $1.10B | $7.54 | -20.0% |
| -35% Multiple Compression | 2.5× | $783.7M | $922.2M | $6.31 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $1.54B | $1.68B | $11.51 | +28.1% |