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Dave Inc. (DAVE) 10-Year Financial Performance & Capital Metrics

DAVE • • Industrial / General
TechnologyApplication SoftwareFinancial Technology & PaymentsDigital Banking Platforms
AboutDave Inc. provides a suite of financial products and services through its financial service online platform. The company offers Insights, a personal financial management tool to manage income and expenses between paychecks for members; ExtraCash, a free overdraft and short-term credit alternative, which allows members to advance funds to their account and avoid a fee; and Side Hustle, a job application portal. It also provides Dave Banking, a digital checking and demand deposit account. The company was founded in 2015 and is based in West Hollywood, California.Show more
  • Revenue $347M +34.0%
  • EBITDA $42M +215.4%
  • Net Income $58M +219.3%
  • EPS (Diluted) 4.19 +202.9%
  • Gross Margin 91.25% +2.7%
  • EBITDA Margin 12.19% +186.1%
  • Operating Margin 9.97% +161.2%
  • Net Margin 16.67% +189.0%
  • ROE 42.84% +185.5%
  • ROIC 11.92% +192.0%
  • Debt/Equity 0.41 -80.2%
  • Interest Coverage 4.33 +220.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 136.2%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 36.0% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 35.4%
  • ✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

  • ✗Shares diluted 15.8% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 14.5x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y35.41%
3Y31.39%
TTM53.84%

Profit (Net Income) CAGR

10Y-
5Y136.21%
3Y-
TTM255.74%

EPS CAGR

10Y-
5Y-
3Y-
TTM225.52%

ROCE

10Y Avg-16.57%
5Y Avg-21.48%
3Y Avg-25.39%
Latest12.99%

Peer Comparison

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Sector-Specific
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GWREGuidewire Software, Inc.14.12B166.09205.0522.64%7.23%6%2.09%0.49
DAVEDave Inc.2.34B192.0645.8433.96%29.87%50.37%5.33%0.41
INTUIntuit Inc.154.33B554.5840.5715.63%21.19%21.31%3.94%0.34
CCBCoastal Financial Corporation1.72B113.6934.9830.92%7.84%10.04%14.54%0.12
SPNSSapiens International Corporation N.V.2.43B43.4533.685.4%11.4%12.2%2.97%0.13
SSNCSS&C Technologies Holdings, Inc.21B86.0528.686.89%13.86%12.2%6.32%1.09
TBBKThe Bancorp, Inc.3.09B70.3916.4116.11%30.63%29.28%7.2%0.16
CWANClearwater Analytics Holdings, Inc.6.98B24.1914.4022.72%61.25%19.6%0.99%0.07

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+76.23M121.8M153.01M204.84M259.09M347.08M
Revenue Growth %-0.6%0.26%0.34%0.26%0.34%
Cost of Goods Sold+15.22M21.65M23.46M31.95M28.93M30.38M
COGS % of Revenue0.2%0.18%0.15%0.16%0.11%0.09%
Gross Profit+61.01M100.15M129.55M172.89M230.17M316.7M
Gross Margin %0.8%0.82%0.85%0.84%0.89%0.91%
Gross Profit Growth %-0.64%0.29%0.33%0.33%0.38%
Operating Expenses+61.01M100.15M135.93M307.29M272.37M282.09M
OpEx % of Revenue0.8%0.82%0.89%1.5%1.05%0.81%
Selling, General & Admin32.18M60.23M101M172.47M143.3M151.93M
SG&A % of Revenue0.42%0.49%0.66%0.84%0.55%0.44%
Research & Development000000
R&D % of Revenue------
Other Operating Expenses28.84M39.92M34.93M134.82M129.06M130.16M
Operating Income+1.78M0-6.38M-134.4M-42.2M34.61M
Operating Margin %0.02%--0.04%-0.66%-0.16%0.1%
Operating Income Growth %--1%--20.08%0.69%1.82%
EBITDA+2.58M-5.08M-3.32M-127.26M-36.66M42.29M
EBITDA Margin %0.03%-0.04%-0.02%-0.62%-0.14%0.12%
EBITDA Growth %--2.97%0.35%-37.31%0.71%2.15%
D&A (Non-Cash Add-back)805K1.72M3.06M7.13M5.54M7.68M
EBIT2.18M-6.79M-17.35M-119.78M-36.62M68.34M
Net Interest Income+-423K-964K-2.26M-6.24M-6.48M-5M
Interest Income429K409K287K2.95M5.29M2.98M
Interest Expense852K17K2.54M9.2M11.77M7.99M
Other Income/Expense-445K-6.81M-13.52M5.42M-6.2M25.74M
Pretax Income+1.33M-6.81M-19.9M-128.97M-48.4M60.35M
Pretax Margin %0.02%-0.06%-0.13%-0.63%-0.19%0.17%
Income Tax+545K145K97K-67K120K2.48M
Effective Tax Rate %0.59%1.02%1%1%1%0.96%
Net Income+787K-6.96M-19.99M-128.91M-48.52M57.87M
Net Margin %0.01%-0.06%-0.13%-0.63%-0.19%0.17%
Net Income Growth %--9.84%-1.87%-5.45%0.62%2.19%
Net Income (Continuing)787K-6.96M-19.99M-128.91M-48.52M57.87M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+0.00-0.60-1.72-10.92-4.074.19
EPS Growth %---1.87%-5.35%0.63%2.03%
EPS (Basic)0.00-0.60-1.72-10.92-4.074.62
Diluted Shares Outstanding11.63M11.63M11.63M11.8M11.93M13.82M
Basic Shares Outstanding11.63M11.63M11.63M11.8M11.93M12.52M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+62.22M69.35M100.2M308.57M276.89M282.27M
Cash & Short-Term Investments31.71M22.45M40.23M191.96M155.94M90.29M
Cash Only6.41M4.79M32.01M22.89M41.76M49.72M
Short-Term Investments25.3M17.67M8.23M169.07M114.18M40.57M
Accounts Receivable29.04M38.74M49.01M104.18M112.85M175.86M
Days Sales Outstanding139.06116.11116.92185.64158.97184.94
Inventory000000
Days Inventory Outstanding------
Other Current Assets1.46M4.14M9.57M11.59M7.96M16.13M
Total Non-Current Assets+4.87M7.05M46.98M12.92M17.14M17.05M
Property, Plant & Equipment2.18M1.89M3.39M1.76M1.89M1.21M
Fixed Asset Turnover34.97x64.31x45.18x116.32x137.01x286.60x
Goodwill000000
Intangible Assets2.09M4.5M7.85M10.16M13.21M13.64M
Long-Term Investments000000
Other Non-Current Assets603K654K35.75M1M2.04M2.2M
Total Assets+67.09M76.41M147.19M321.49M294.02M299.33M
Asset Turnover1.14x1.59x1.04x0.64x0.88x1.16x
Asset Growth %-0.14%0.93%1.18%-0.09%0.02%
Total Current Liabilities+9.57M24.18M68.63M36.42M25.6M35.06M
Accounts Payable6.5M8.49M13.04M11.42M5.49M6.77M
Days Payables Outstanding155.97143.19202.95130.4669.2181.31
Short-Term Debt03.91M35.75M000
Deferred Revenue (Current)000000
Other Current Liabilities666K3.73M2.67M5.84M16.22M9.3M
Current Ratio6.50x2.87x1.46x8.47x10.81x8.05x
Quick Ratio6.50x2.87x1.46x8.47x10.81x8.05x
Cash Conversion Cycle------
Total Non-Current Liabilities+2.22M2.38M39.81M178.51M181.36M81.17M
Long-Term Debt696K708K35M177.32M180.45M75M
Capital Lease Obligations1.49M1.09M970K550K543K204K
Deferred Tax Liabilities000000
Other Non-Current Liabilities36.9K584.9K3.85M640K362K5.96M
Total Liabilities11.8M26.56M108.45M214.93M206.96M116.23M
Total Debt+2.55M6.11M73.64M178.15M181.29M75.55M
Net Debt-3.85M1.32M41.63M155.26M139.53M25.84M
Debt / Equity0.05x0.12x1.90x1.67x2.08x0.41x
Debt / EBITDA0.99x----1.79x
Net Debt / EBITDA-1.49x----0.61x
Interest Coverage2.09x--2.51x-14.61x-3.58x4.33x
Total Equity+55.29M49.84M38.74M106.56M87.06M183.1M
Equity Growth %--0.1%-0.22%1.75%-0.18%1.1%
Book Value per Share4.764.293.339.037.2913.25
Total Shareholders' Equity55.29M49.84M38.74M106.56M87.06M183.1M
Common Stock1001001K1K1K1K
Retained Earnings-5.95M-12.9M-32.9M-161.8M-210.32M-152.45M
Treasury Stock-154K-154K-5K000
Accumulated OCI000-1.68M649K221K
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-10.93M-9.15M-541K-44.88M33.75M125.14M
Operating CF Margin %-0.14%-0.08%-0%-0.22%0.13%0.36%
Operating CF Growth %-0.16%0.94%-81.96%1.75%2.71%
Net Income787K-6.96M-19.99M-128.91M-48.52M57.87M
Depreciation & Amortization805K1.72M3.06M7.13M5.54M7.68M
Stock-Based Compensation446K1.52M7.38M40.64M26.67M37.33M
Deferred Taxes20.2M00000
Other Non-Cash Items-648K25.28M863K45.35M61.24M24.09M
Working Capital Changes-32.52M-30.71M8.15M-9.1M-11.19M-1.84M
Change in Receivables4.86M1.98M2.57M330K0-6.16M
Change in Inventory-4.86M00000
Change in Payables4.86M1.98M2.57M330-5.93M1.28M
Cash from Investing+-19.7M3.42M-37.2M-285.58M-14.38M-45.84M
Capital Expenditures-2.58M-231K-371K-9.31M-688K-262K
CapEx % of Revenue0.03%0%0%0.05%0%0%
Acquisitions------
Investments------
Other Investing-1.75M-3.99M-46.27M-114.32M-70.86M-118.76M
Cash from Financing+33.87M4.24M65.05M321.77M22K-71M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing-14.35M331K-1.04M7.3M34K-1.26M
Net Change in Cash------
Free Cash Flow+-13.51M-13.37M-7.02M-54.2M25.17M124.88M
FCF Margin %-0.18%-0.11%-0.05%-0.26%0.1%0.36%
FCF Growth %-0.01%0.47%-6.72%1.46%3.96%
FCF per Share-1.16-1.15-0.60-4.592.119.03
FCF Conversion (FCF/Net Income)-13.89x1.31x0.03x0.35x-0.70x2.16x
Interest Paid001.99M000
Taxes Paid02.8M0000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)1.42%-13.23%-45.14%-177.44%-50.11%42.84%
Return on Invested Capital (ROIC)2.59%--7.27%-58.91%-12.96%11.92%
Gross Margin80.04%82.23%84.67%84.4%88.84%91.25%
Net Margin1.03%-5.71%-13.07%-62.93%-18.73%16.67%
Debt / Equity0.05x0.12x1.90x1.67x2.08x0.41x
Interest Coverage2.09x--2.51x-14.61x-3.58x4.33x
FCF Conversion-13.89x1.31x0.03x0.35x-0.70x2.16x
Revenue Growth-59.78%25.63%33.87%26.49%33.96%

Revenue by Segment

202220232024
Processing Fees106.66M152.49M218.8M
Processing Fees Growth-42.96%43.49%
Subscriptions19.15M21.48M24.6M
Subscriptions Growth-12.21%14.50%
Other1.1M1.32M462K
Other Growth-20.38%-65.08%
Transaction Based Revenue15.98M26.85M-
Transaction Based Revenue Growth-68.06%-

Frequently Asked Questions

Valuation & Price

Dave Inc. (DAVE) has a price-to-earnings (P/E) ratio of 45.8x. This suggests investors expect higher future growth.

Growth & Financials

Dave Inc. (DAVE) reported $491.3M in revenue for fiscal year 2024. This represents a 545% increase from $76.2M in 2019.

Dave Inc. (DAVE) grew revenue by 34.0% over the past year. This is strong growth.

Yes, Dave Inc. (DAVE) is profitable, generating $146.7M in net income for fiscal year 2024 (16.7% net margin).

Dividend & Returns

Dave Inc. (DAVE) has a return on equity (ROE) of 42.8%. This is excellent, indicating efficient use of shareholder capital.

Dave Inc. (DAVE) generated $236.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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