(IBTA) Ibotta - Overview
Sector: Technology | Industry: Software - Application | Exchange: NYSE (USA) | Market Cap: 789m USD | Total Return: -31.2% in 12m
Avg Turnover: 7.02M
Qual. Beats: 0
Rev. Trend: 64.9%
Qual. Beats: 0
Warnings
Altman Z'' 0.50 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Idiosyncratic Leader
Ibotta, Inc. (IBTA) operates a digital promotion platform that connects consumer packaged goods (CPG) brands with shoppers through the Ibotta Performance Network (IPN). The company utilizes a performance-based marketing model where brands pay for results, such as verified sales, rather than traditional impression-based advertising. By distributing offers across direct-to-consumer mobile apps, web extensions, and third-party publisher sites, Ibotta facilitates targeted incentives designed to drive incremental volume for advertisers.
The digital coupon and rewards sector is increasingly shifting toward retail media networks, which leverage first-party data to attribute specific purchases to digital ad spend. Ibotta’s LiveLift suite further supports this by providing brands with tools to optimize real-time sales lift. Investors should evaluate ValueRay to analyze how these performance-based metrics impact long-term valuation.
Headquartered in Denver, Colorado, the company was established in 2011 and underwent a rebranding from Zing Enterprises in 2012. Its revenue streams are diversified through display advertising, sponsored offers, and feature placements within the IPN ecosystem, focusing exclusively on the United States market.
- Ibotta Performance Network expansion drives third-party publisher revenue growth
- CPG brand marketing budget shifts impact digital promotion volume
- Consumer adoption of direct-to-consumer mobile app increases platform engagement
- Strategic partnerships with major retailers determine long-term market share
- High fixed technology costs influence operating leverage and profit margins
| Net Income: -7.30m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA 0.45 > 1.0 |
| NWC/Revenue: 47.04% < 20% (prev 89.71%; Δ -42.67% < -1%) |
| CFO/TA 0.22 > 3% & CFO 105.8m > Net Income -7.30m |
| Net Debt (-139.3m) to EBITDA (6.16m): -22.61 < 3 |
| Current Ratio: 1.80 > 1.5 & < 3 |
| Outstanding Shares: last quarter (24.1m) vs 12m ago -27.32% < -2% |
| Gross Margin: 77.97% > 18% (prev 0.85%; Δ 7.71k% > 0.5%) |
| Asset Turnover: 60.81% > 50% (prev 57.80%; Δ 3.01% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.33 (Total Current Assets 361.0m - Total Current Liabilities 200.9m) / Total Assets 479.9m |
| B: -0.31 (Retained Earnings -147.2m / Total Assets 479.9m) |
| C: -0.00 (EBIT TTM -1.47m / Avg Total Assets 559.6m) |
| D: -0.64 (Book Value of Equity -147.2m / Total Liabilities 230.9m) |
| Altman-Z'' = 0.50 = B |
| DSRI: 0.91 (Receivables 183.1m/219.6m, Revenue 340.3m/369.5m) |
| GMI: 1.09 (GM 77.97% / 84.66%) |
| AQI: 1.19 (AQ_t 0.18 / AQ_t-1 0.15) |
| SGI: 0.92 (Revenue 340.3m / 369.5m) |
| TATA: -0.24 (NI -7.30m - CFO 105.8m) / TA 479.9m) |
| Beneish M = -3.21 (Cap -4..+1) = AA |
As of May 31, 2026, the stock is trading at USD 34.25 with a total of 260,301 shares traded.
Over the past week, the price has changed by +7.17%,
over one month by -3.85%,
over three months by +37.16% and
over the past year by -31.17%.
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 | 34 | -0.7% |
P/E Forward = 153.8462
P/S = 2.3186
P/B = 3.169
Revenue TTM = 340.3m USD
EBIT TTM = -1.47m USD
EBITDA TTM = 6.16m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 25.3m USD (from shortLongTermDebtTotal, last quarter) (leases 25.3m already included)
Net Debt = -139.3m USD (calculated: Debt 25.3m - CCE 164.6m)
Enterprise Value = 649.7m USD (789.0m + Debt 25.3m - CCE 164.6m)
Interest Coverage Ratio = unknown (Ebit TTM -1.47m / Interest Expense TTM 0.0)
EV/FCF = 8.03x (Enterprise Value 649.7m / FCF TTM 80.9m)
FCF Yield = 12.46% (FCF TTM 80.9m / Enterprise Value 649.7m)
FCF Margin = 23.79% (FCF TTM 80.9m / Revenue TTM 340.3m)
Net Margin = -2.15% (Net Income TTM -7.30m / Revenue TTM 340.3m)
Gross Margin = 77.97% ((Revenue TTM 340.3m - Cost of Revenue TTM 75.0m) / Revenue TTM)
Gross Margin QoQ = 74.53% (prev 79.37%)
Tobins Q-Ratio = 1.35 (Enterprise Value 649.7m / Total Assets 479.9m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 25.3m)
Taxrate = 21.0% (US default 21%)
NOPAT = -1.16m (EBIT -1.47m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.80 (Total Current Assets 361.0m / Total Current Liabilities 200.9m)
Debt / Equity = 0.10 (Debt 25.3m / totalStockholderEquity, last quarter 249.0m)
Debt / EBITDA = -22.61 (Net Debt -139.3m / EBITDA 6.16m)
Debt / FCF = -1.72 (Net Debt -139.3m / FCF TTM 80.9m)
Total Stockholder Equity = 305.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.30% (Net Income -7.30m / Total Assets 479.9m)
RoE = -1.61% (Net Income TTM -7.30m / Total Stockholder Equity 452.3m)
RoCE = -0.53% (EBIT -1.47m / Capital Employed (Total Assets 479.9m - Current Liab 200.9m))
RoIC = -0.43% (negative operating profit) (NOPAT -1.16m / Invested Capital 272.0m)
WACC = 8.89% (E(789.0m)/V(814.3m) * Re(9.18%) + D(25.3m)/V(814.3m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 9.18% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -17.98 | Cagr: -9.52%
[DCF] Terminal Value 71.08% ; FCFF base≈90.6m ; Y1≈79.4m ; Y5≈64.2m
[DCF] Fair Price = 53.68 (EV 944.9m - Net Debt -139.3m = Equity 1.08b / Shares 20.2m; r=8.89% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.50 | # QB: 0
Revenue Correlation: 64.89 | Revenue CAGR: 8.58% | SUE: 0.34 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.37 | Chg30d=+9.52% | Revisions=+20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.38 | Chg30d=-3.74% | Revisions=N/A | Analysts=3
EPS current Year (2026-12-31): EPS=1.48 | Chg30d=+4.11% | Revisions=+20% | GrowthEPS=-13.7% | GrowthRev=+0.8%
EPS next Year (2027-12-31): EPS=1.72 | Chg30d=+2.32% | Revisions=-20% | GrowthEPS=+16.4% | GrowthRev=+9.0%
[Analyst] Revisions Ratio: +20%