IBTA Stock Analysis: Ibotta | NYSE
Software - Application | NYSE, USA | Market Cap: 966m USD | 12M Return: 57.9% | US4510511060 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.93M
Qual. Beats: 0
Rev. Trend: 42.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 2.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Ibotta, Inc. (NYSE: IBTA) is a Denver-based technology company that operates a digital promotion network connecting consumer packaged goods (CPG) brands with consumers. The company sources offers from brand clients and distributes them through its Ibotta Performance Network (IPN), a platform that spans its own direct-to-consumer mobile, web, and browser extension properties as well as third-party publisher properties. It monetizes these placements through a variety of ad formats, including display ads, tiles, sponsored offers, newsletters, and feature placements, and also offers LiveLift, a brand-focused sales-driving product set.
Founded in 2011 as Zing Enterprises, Inc. and renamed Ibotta in 2012, the company went public on April 18, 2024, with a small-cap market capitalization of approximately $730 million. Within the GICS framework, Ibotta is classified under the Communication Services sector and the Advertising sub-industry, placing it within the broader digital and performance-based advertising segment, where revenue is typically tied to measurable consumer actions such as offer redemptions or clicks rather than traditional impression-based media buying.
- CPG brand promotional spending cuts pressure IPN revenue
- Consumer redemption rates decline as spending softens
- Take rate compresses amid competition from retailer loyalty programs
| Net Income: -11.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA -1.82 > 1.0 |
| NWC/Revenue: 44.34% < 20% (prev 75.79%; Δ -31.45% < -1%) |
| CFO/TA 0.19 > 3% & CFO 93.2m > Net Income -11.0m |
| Net Debt (-123.0m) to EBITDA (5.57m): -22.11 < 3 |
| Current Ratio: 1.71 > 1.5 & < 3 |
| Outstanding Shares: last quarter (23.3m) vs 12m ago -23.50% < -2% |
| Gross Margin: 77.79% > 18% (prev 83.04%; Δ -5.25% > 0.5%) |
| Asset Turnover: 63.19% > 50% (prev 61.19%; Δ 2.00% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.31 (Total Current Assets 365.6m - Total Current Liabilities 213.5m) / Total Assets 485.4m |
| B: -0.31 (Retained Earnings -148.4m / Total Assets 485.4m) |
| C: -0.01 (EBIT TTM -4.39m / Avg Total Assets 543.1m) |
| D: 0.99 (Book Value of Equity 241.6m / Total Liabilities 243.8m) |
| Altman-Z'' = 2.05 = BBB |
| DSRI: 1.04 (Receivables 203.4m/209.0m, Revenue 343.2m/367.6m) |
| GMI: 1.07 (GM 83.04% / 77.79%) |
| AQI: 1.09 (AQ_t 0.18 / AQ_t-1 0.16) |
| SGI: 0.93 (Revenue 343.2m / 367.6m) |
| TATA: -0.21 (NI -11.0m - CFO 93.2m) / TA 485.4m) |
| Beneish M = -2.95 (Cap -4..+1) = A |
As of September 22, 2026, the stock is trading at USD 41.09 with a total of 175,180 shares traded. Over the past week, the price has changed by -3.09%, over one month by +8.96%, over three months by +33.93% and over the past year by +57.92%.
Current recommended Stop Loss: 37.90 (which is 7.8% or 1.7 ATR below the current price).
Ibotta has received a consensus analysts rating of 3.78. Therefore, it is recommended to hold IBTA.
- StrongBuy: 2
- Buy: 3
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 36.1 | -12% |
P/E Forward = 24.6914
P/S = 2.8135
P/B = 3.4905
Revenue TTM = 343.2m USD
EBIT TTM = -4.39m USD
EBITDA TTM = 5.57m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 25.1m USD (from shortLongTermDebtTotal, last quarter) (leases 25.1m already included)
Net Debt = -123.0m USD (calculated: Debt 25.1m - CCE 148.2m)
Enterprise Value = 842.5m USD (965.5m + Debt 25.1m - CCE 148.2m)
Interest Coverage Ratio = unknown (Ebit TTM -4.39m / Interest Expense TTM 0.0)
EV/FCF = 12.72x (Enterprise Value 842.5m / FCF TTM 66.2m)
FCF Yield = 7.86% (FCF TTM 66.2m / Enterprise Value 842.5m)
FCF Margin = 19.30% (FCF TTM 66.2m / Revenue TTM 343.2m)
Net Margin = -3.21% (Net Income TTM -11.0m / Revenue TTM 343.2m)
Gross Margin = 77.79% ((Revenue TTM 343.2m - Cost of Revenue TTM 76.2m) / Revenue TTM)
Gross Margin QoQ = 78.42% (prev 74.53%)
Tobins Q-Ratio = 1.74 (Enterprise Value 842.5m / Total Assets 485.4m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 25.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -3.47m (EBIT -4.39m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.71 (Total Current Assets 365.6m / Total Current Liabilities 213.5m)
Debt / Equity = 0.10 (Debt 25.1m / totalStockholderEquity, last quarter 241.6m)
Debt / EBITDA = -22.11 (Net Debt -123.0m / EBITDA 5.57m)
Debt / FCF = -1.86 (Net Debt -123.0m / FCF TTM 66.2m)
Total Stockholder Equity = 277.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.03% (Net Income -11.0m / Total Assets 485.4m)
RoE = -3.98% (Net Income TTM -11.0m / Total Stockholder Equity 277.0m)
RoCE = -1.61% (EBIT -4.39m / Capital Employed (Total Assets 485.4m - Current Liab 213.5m))
RoIC = -1.36% (negative operating profit) (NOPAT -3.47m / Invested Capital 254.8m)
WACC = 10.53% (E(965.5m)/V(990.6m) * Re(10.80%) + D(25.1m)/V(990.6m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 10.80% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -74.92 | Cagr: -10.98%
[DCF] Terminal Value 65.43% ; FCFF base≈76.9m ; Y1≈67.5m ; Y5≈54.5m
[DCF] Fair Price = 38.12 (EV 644.9m - Net Debt -123.0m = Equity 768.0m / Shares 20.1m; r=10.53% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.60 | # QB: 0
Revenue Correlation: 42.22 | Revenue CAGR: 3.48% | SUE: 0.82 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.44 | Chg30d=+17.58% | Revisions=+17% | Analysts=3
EPS current Year (2026-12-31): EPS=1.59 | Chg30d=+8.07% | Revisions=+17% | GrowthEPS=-6.8% | GrowthRev=+3.2%
EPS next Year (2027-12-31): EPS=1.88 | Chg30d=+9.70% | Revisions=+50% | GrowthEPS=+18.1% | GrowthRev=+8.5%
[Analyst] Revisions Ratio: +42% (up=7, down=2)