Dave Inc. Class A Common Stock (DAVE)

FairStock Score: 74/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is offering Dave at $362.87, a $5.0 billion price tag on a fintech platform with only 280 employees. Revenue has climbed from $259.1 million in FY2023 to $347.1 million in FY2024 and $554.2 million in FY2025. The company also turned a $48.5 million loss in FY2023 into $57.9 million of net income in FY2024 and $195.9 million in FY2025, which is why FairStock calls it a TURNAROUND. That is real progress. The latest quarter, fiscal Q2 2026 ended 2026-06-30, showed $170.8 million of revenue but only $6.7 million of net income, a 3.92% margin, compared with $9.0 million of net income in fiscal Q2 2025. Profit growth of -26.03% against revenue growth of 29.63% tells me the economics are uneven. I see high returns on capital—ROE 104.78%, ROCE 31.01%—but the P/B of 22.26 and EV/EBITDA of 22.59 mean I am paying dearly for those returns. Free cash flow is a bright spot: $319.2 million trailing twelve months, a 6.4% FCF yield. Still, the Graham Number is $75.28, leaving a margin of safety of -382.03%; that is not Graham's idea of a bargain. The balance sheet has a D/E of 1.29, and a beta of 3.84 warns of a wild ride. Piotroski 7/9 and Altman 9.91 suggest decent financial footing, but the moat is not evident to me. At this price, the market already assumes the turnaround continues smoothly. I would want much more consistent quarterly profits and a wider discount before calling this a value investment.

In plain English: Dave Inc. makes a mobile money app that helps people manage bills, get small cash advances, and find side work. The business has grown sales fast and moved from losses to profits, but the latest quarter showed only a small profit and profit has recently declined. At the recent share price near $363, the stock looks expensive compared with what its accounting records say it is worth and a conservative estimate based on its earnings.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer