Is the business good?
How good a business is DAVE?
Dave Inc. earns 76% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
76%
Return on invested capital · cost of capital 9.0% · 67 points above what the capital costs: growth creates value
- Operating margin
- 35%
Operating margin · Software - Application median 8.2% · 12 months to Q2 2026
- Cash conversion
- 1.47×
Cash conversion · 3.48× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −6.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2021 | −31% |
| FY2022 | −66% |
| FY2023 | −16% |
| FY2024 | 10.0% |
| FY2025 | 34% |
Details›
- Operating margin12 months to Q2 2026
- 35%
- Net margin12 months to Q2 2026
- 35%
- Free cash flow margin
- 51%
- Revenue, trailing twelve months
- $644M
- Free cash flow, trailing twelve months
- $327M
- Net income, trailing twelve months
- $223M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 76%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Application
Ranks #17 of 90 by Smart Score