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Dave Valuation Multiples

Discover revenue and EBITDA valuation multiples for Dave and similar public comparables like BMTX, Change Financial, and One97 Communications.

Dave Overview

About Dave

Dave Inc is a financial services company. It is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit and finding side gigs.


Founded

2015

HQ

United States of America
Employees

274

Website

dave.com

Financials

LTM Revenue $397M

LTM EBITDA $117M

EV

$2.7B

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Dave Financials

Dave has a last 12-month revenue (LTM) of $397M and a last 12-month EBITDA of $117M.

In the most recent fiscal year, Dave achieved revenue of $347M and an EBITDA of $76.0M.

Dave expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Dave P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $397M XXX $347M XXX XXX XXX
Gross Profit $397M XXX $317M XXX XXX XXX
Gross Margin 100% XXX 91% XXX XXX XXX
EBITDA $117M XXX $76.0M XXX XXX XXX
EBITDA Margin 30% XXX 22% XXX XXX XXX
EBIT $69.5M XXX $34.6M XXX XXX XXX
EBIT Margin 18% XXX 10% XXX XXX XXX
Net Profit $74.2M XXX $57.9M XXX XXX XXX
Net Margin 19% XXX 17% XXX XXX XXX
Net Debt XXX XXX $25.3M XXX XXX XXX

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Dave Stock Performance

As of May 30, 2025, Dave's stock price is $201.

Dave has current market cap of $2.7B, and EV of $2.7B.

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Dave Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$2.7B $2.7B XXX XXX XXX XXX $5.22

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Dave Valuation Multiples

As of May 30, 2025, Dave has market cap of $2.7B and EV of $2.7B.

Dave's trades at 7.7x EV/Revenue multiple, and 35.1x EV/EBITDA.

Equity research analysts estimate Dave's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Dave has a P/E ratio of 36.1x.

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Dave Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $2.7B XXX $2.7B XXX XXX XXX
EV (current) $2.7B XXX $2.7B XXX XXX XXX
EV/Revenue 6.7x XXX 7.7x XXX XXX XXX
EV/EBITDA 22.7x XXX 35.1x XXX XXX XXX
EV/EBIT 38.3x XXX 77.0x XXX XXX XXX
EV/Gross Profit 6.7x XXX n/a XXX XXX XXX
P/E 36.1x XXX 46.3x XXX XXX XXX
EV/FCF n/a XXX 22.7x XXX XXX XXX

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Dave Margins & Growth Rates

Dave's last 12 month revenue growth is 27%

Dave's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $1.0M for the same period.

Dave's rule of 40 is 15% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Dave's rule of X is 97% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Dave Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 27% XXX 26% XXX XXX XXX
EBITDA Margin 30% XXX 22% XXX XXX XXX
EBITDA Growth 51% XXX n/a XXX XXX XXX
Rule of 40 15% XXX 49% XXX XXX XXX
Bessemer Rule of X XXX XXX 97% XXX XXX XXX
Revenue per Employee XXX XXX $1.3M XXX XXX XXX
Opex per Employee XXX XXX $1.0M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 13% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 81% XXX XXX XXX

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Dave Public Comps

See public comps and valuation multiples for Neobanking comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
BMTX XXX XXX XXX XXX XXX XXX
Change Financial XXX XXX XXX XXX XXX XXX
Fino Payments Bank XXX XXX XXX XXX XXX XXX
One97 Communications XXX XXX XXX XXX XXX XXX
NAGA Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Dave M&A and Investment Activity

Dave acquired  XXX companies to date.

Last acquisition by Dave was  XXXXXXXX, XXXXX XXXXX XXXXXX . Dave acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Dave

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Dave

When was Dave founded? Dave was founded in 2015.
Where is Dave headquartered? Dave is headquartered in United States of America.
How many employees does Dave have? As of today, Dave has 274 employees.
Who is the CEO of Dave? Dave's CEO is Mr. Jason Wilk.
Is Dave publicy listed? Yes, Dave is a public company listed on NAS.
What is the stock symbol of Dave? Dave trades under DAVE ticker.
When did Dave go public? Dave went public in 2022.
Who are competitors of Dave? Similar companies to Dave include e.g. BMTX, Change Financial, Fino Payments Bank, One97 Communications.
What is the current market cap of Dave? Dave's current market cap is $2.7B
What is the current revenue of Dave? Dave's last 12 months revenue is $397M.
What is the current revenue growth of Dave? Dave revenue growth (NTM/LTM) is 27%.
What is the current EV/Revenue multiple of Dave? Current revenue multiple of Dave is 6.7x.
Is Dave profitable? Yes, Dave is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Dave? Dave's last 12 months EBITDA is $117M.
What is Dave's EBITDA margin? Dave's last 12 months EBITDA margin is 30%.
What is the current EV/EBITDA multiple of Dave? Current EBITDA multiple of Dave is 22.7x.

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