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Mandiant NasdaqGS:MNDT Stock Report

Last Price


Market Cap







26 Jun, 2022


Company Financials +
MNDT fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance0/6
Financial Health5/6

MNDT Stock Overview

Mandiant, Inc. engages in the provision of cyber security solutions.

Mandiant Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mandiant
Historical stock prices
Current Share PriceUS$21.94
52 Week HighUS$23.33
52 Week LowUS$13.76
1 Month Change-0.81%
3 Month Change-1.61%
1 Year Change5.33%
3 Year Change48.14%
5 Year Change44.25%
Change since IPO-39.06%

Recent News & Updates

Shareholder Returns

MNDTUS SoftwareUS Market

Return vs Industry: MNDT exceeded the US Software industry which returned -17.9% over the past year.

Return vs Market: MNDT exceeded the US Market which returned -18.4% over the past year.

Price Volatility

Is MNDT's price volatile compared to industry and market?
MNDT volatility
MNDT Average Weekly Movement1.3%
Software Industry Average Movement11.1%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: MNDT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: MNDT's weekly volatility (1%) has been stable over the past year.

About the Company

20042,335Kevin Mandia

Mandiant, Inc. engages in the provision of cyber security solutions. The company, through the Mandiant Advantage SaaS platform, offers threat intelligence, security validation, attack surface management and security automation, as well as managed and consulting services. It also provides Advantage Platform, a multi-vendor XDR platform that delivers the company’s expertise and frontline intelligence to security teams; Managed Defense, a solution with comprehensive protection from advanced and emerging threats; and Mandiant Academy, which provides cyber security training services.

Mandiant Fundamentals Summary

How do Mandiant's earnings and revenue compare to its market cap?
MNDT fundamental statistics
Market CapUS$5.09b
Earnings (TTM)-US$436.22m
Revenue (TTM)US$498.91m


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MNDT income statement (TTM)
Cost of RevenueUS$267.51m
Gross ProfitUS$231.40m
Other ExpensesUS$667.62m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)-1.88
Gross Margin46.38%
Net Profit Margin-87.43%
Debt/Equity Ratio59.4%

How did MNDT perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is MNDT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MNDT?

Other financial metrics that can be useful for relative valuation.

MNDT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue9.1x
Enterprise Value/EBITDA-17.4x
PEG Ration/a

Price to Sales Ratio vs Peers

How does MNDT's PS Ratio compare to its peers?

MNDT PS Ratio vs Peers
The above table shows the PS ratio for MNDT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average9.8x
MSP Datto Holding
TDC Teradata
QLYS Qualys
MNDT Mandiant

Price-To-Sales vs Peers: MNDT is expensive based on its Price-To-Sales Ratio (10.2x) compared to the peer average (9.8x).

Price to Earnings Ratio vs Industry

How does MNDT's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Sales vs Industry: MNDT is expensive based on its Price-To-Sales Ratio (10.2x) compared to the US Software industry average (4.7x)

Price to Sales Ratio vs Fair Ratio

What is MNDT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MNDT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.2x
Fair PS Ratio4.9x

Price-To-Sales vs Fair Ratio: MNDT is expensive based on its Price-To-Sales Ratio (10.2x) compared to the estimated Fair Price-To-Sales Ratio (4.9x).

Share Price vs Fair Value

What is the Fair Price of MNDT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MNDT ($21.94) is trading above our estimate of fair value ($0.22)

Significantly Below Fair Value: MNDT is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MNDT's PEG Ratio to determine if it is good value.

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Future Growth

How is Mandiant forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MNDT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MNDT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MNDT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MNDT's revenue (17.8% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: MNDT's revenue (17.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MNDT's Return on Equity is forecast to be low in 3 years time (0.7%).

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Past Performance

How has Mandiant performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MNDT is currently unprofitable.

Growing Profit Margin: MNDT is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MNDT is unprofitable, and losses have increased over the past 5 years at a rate of 6.5% per year.

Accelerating Growth: Unable to compare MNDT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MNDT is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (27.1%).

Return on Equity

High ROE: MNDT has a negative Return on Equity (-23.03%), as it is currently unprofitable.

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Financial Health

How is Mandiant's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MNDT's short term assets ($2.3B) exceed its short term liabilities ($958.6M).

Long Term Liabilities: MNDT's short term assets ($2.3B) exceed its long term liabilities ($776.3M).

Debt to Equity History and Analysis

Debt Level: MNDT has more cash than its total debt.

Reducing Debt: MNDT's debt to equity ratio has reduced from 93.2% to 59.4% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MNDT has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if MNDT has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

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What is Mandiant current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MNDT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MNDT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MNDT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MNDT's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MNDT has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Kevin Mandia (50 yo)





Mr. Kevin R. Mandia serves as Strategic Partner at Ballistic Ventures. He has been the Chief Executive Officer of FireEye, Inc. since June 15, 2016. Mr. Mandia has been Director at Awake Security, Inc. sin...

CEO Compensation Analysis

Compensation vs Market: Kevin's total compensation ($USD7.78M) is about average for companies of similar size in the US market ($USD8.23M).

Compensation vs Earnings: Kevin's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: MNDT's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.

Board Members

Experienced Board: MNDT's board of directors are considered experienced (4.8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Mandiant, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Mandiant, Inc.
  • Ticker: MNDT
  • Exchange: NasdaqGS
  • Founded: 2004
  • Industry: Systems Software
  • Sector: Software
  • Implied Market Cap: US$5.095b
  • Shares outstanding: 232.21m
  • Website:

Number of Employees


  • Mandiant, Inc.
  • 11951 Freedom Drive
  • 6th Floor
  • Reston
  • Virginia
  • 20190
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.