Dave

DAVE

Software - Application · Technology

Price

$440.42

-2.11 (-0.48%)

Market Cap

$5.92B

Exchange

NASDAQ

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count rising — dilution

+24.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 11.6M (2021) → 14.5M (2025)

Dave 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 comp

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+46.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+96.8% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

27.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$133M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Dave grew revenue 47% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

71.7%

Premium pricing power — 71.7% gross margin

Operating Margin

38.3%

Excellent — 38.3% operating margin

ROCE

12.8%

Good — 12.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+47.4%

Fast-growing sales (47.4% YoY)

EPS YoY

+309.9%

Earnings growing fast (309.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

145%

Turns 145% of profit into real cash

FCF Margin

57.5%

Converts sales into free cash efficiently (57.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.32

Elevated debt (1.32)

Interest Cover

9.48x

Comfortably covers interest (9.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

26.4x

Growth-priced — P/E 26.4

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+6.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (26.4 → 19.6)

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Dividends

Not applicable for this business.

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