Ibotta Inc. Class A Common Stock (IBTA)

FairStock Score: 15/100 — RISKY

Key Financials

AI Analysis

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

I approach this as a Graham-style exercise: what is the business worth, and what am I paying? Ibotta provides digital promotions through its Ibotta Performance Network, with 800 employees. The filed record shows a business that is not compounding smoothly. Fiscal 2025 revenue was $342.4M, above fiscal 2023's $320.0M but below fiscal 2024's $367.3M. Net income fell from $68.7M in fiscal 2024 to $3.6M in fiscal 2025. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $82.5M and net loss was $10.3M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $88.9M and net loss was $1.2M. That is not the steady earnings stream I prize. At the close on 2026-10-13, the price was $43.28 and market cap $1.0B. FairStock calculates a negative P/E of -92.09, P/B of 4.17, ROE of -3.70%, and ROCE of -1.20%. The company does generate cash: trailing free cash flow was $58.6M, a 5.8% FCF yield, and debt/equity is only 0.10. Its Piotroski F-Score is 7/9 and Altman Z-Score 2.60, suggesting no immediate balance-sheet crisis. But FairStock's overall score is 15/100, and the Lynch category is TURNAROUND—returned to profit after a loss within the last three years. A turnaround can work, but only if revenue reaccelerates and margins recover. Here revenue growth is 3.34% and profit growth is -149.36%. I see a fair-to-expensive price for a small, unproven-moat promotion platform. I would need much clearer evidence of durable earning power before calling it a bargain.

In plain English: Ibotta runs a digital promotions and coupons platform, connecting consumer brands with shoppers through apps, websites, and browser extensions. The business brings in cash but has recently swung to small losses, and sales are growing only slightly. At the recent price, the shares look expensive relative to current profits and accounting value, even though cash flow gives some support.

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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