Ibotta, Inc.

Ibotta, Inc.

IBTA·NYSE

$32.56

-6.2%
TechnologySoftware - Application

Ibotta, Inc. operates as a technology company that offers Ibotta Performance Network (IPN) that allows consumer packaged goods brands to deliver digital promotions to consumers. It offers promotional services to publishers, retailers, and advertisers through the IPN. The company was formerly known as Zing Enterprises, Inc. and changed its name to Ibotta, Inc. in 2012. The company was incorporated in 2011 and is based in Denver, Colorado.

At a Glance

Live Snapshot
Market Cap$869.64M
EPS0.1300
P/E Ratio250.46
Earnings Date08/12/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

High confidence

Valuation multiple is elevated (P/E 250.5).

Valuation inputs: P/E 250.5, earnings yield +0.4%, momentum -6.2%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +1.2%, ROIC +0.2%).

Profitability stack: net margin +1.0%, ROE +1.2%, ROIC +0.2%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +45.3%, momentum -6.2%, net margin +1.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

ibta

Ibotta, Inc. Market vs Earnings Trajectory

IBTA · NYSE

Loading price and EPS data...

Ibotta, Inc.

Ibotta, Inc. Fair Value Envelope

IBTA · NYSE

Our analysis suggests that IBTA has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $32.56, this represents a potential HIDDEN relative to our calculated worth for Ibotta, Inc..

Intrinsic Value
Current Price: $32.56
3Y-107.0%
5Y-107.0%
10Y-107.0%
3Y+62.0%
5Y+62.0%
10Y+62.0%
3Y-107.0%
5Y-107.0%
10Y-107.0%
3Y-269.0%
5Y-269.0%
10Y-269.0%
3Y-216.0%
5Y-216.0%
10Y-216.0%
3Y+170.0%
5Y+170.0%
10Y+170.0%
Ibotta, Inc.

Ibotta, Inc. Profit Bridge

IBTA · NYSE
Revenue342.39M
Cost of Goods Sold (74.97M)
Gross Profit267.42M
Operating Expenses (265.76M)
Operating Income1.66M
Interest Expense (0.00)
Other Income/Expense8.19M
Pretax Income9.85M
Income Tax (6.27M)
Net Income3.58M
Net Income
3.58M

Profitability Analysis

Gross Margin

78.1%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

0.5%

Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.

Net Profit Margin

1.0%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

63.7%

Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

78.10%
Gross Profit Margin
-10%
3Y+2.0%
5Y+2.0%
10Y+2.0%
0.48%
Operating Profit Margin
-94%
3Y-103.0%
5Y-103.0%
10Y-103.0%
1.04%
Net Profit Margin
-94%
3Y-104.0%
5Y-104.0%
10Y-104.0%
1.24%
Return on Equity
-92%
3Y-99.0%
5Y-99.0%
10Y-99.0%
0.68%
Return on Assets
-93%
3Y-102.0%
5Y-102.0%
10Y-102.0%
0.19%
Return on Invested Capital
-97%
3Y-100.0%
5Y-100.0%
10Y-100.0%
IBTA

Ibotta, Inc. Cash Conversion Engine

IBTA · NYSE
Net Income3.58M
Depreciation & Amortization8.32M
Stock-Based Compensation44.14M
Change in Working Capital24.67M
Others11.42M
Capital Expenditures-20.29M
Free Cash Flow74.98M

Cash Flow Quality Analysis

FCF Conversion Rate

2097.4%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

21.3%

Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.

FCF Growth Trend

-29.1%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$24.67M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

ibta

Ibotta, Inc. Funding & Solvency Profile

IBTA · NYSE
Cash & Cash Equivalents164.60M
Net Receivables183.05M
Inventory0.00
Other Current Assets13.35M
Total Current Assets361 M
Property, Plant & Equipment33.05M
Goodwill & Intangible Assets0.00
Long-Term Investments0.00
Other Non-Current Assets31.97M
Total Non-Current Assets65 M
Total Assets
479.92M

Financial Health Analysis

Current Ratio

1.80x

Strong liquidity. The company has adequate resources to meet short-term liabilities.

Debt-to-Equity Ratio

0.93x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

160 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

75% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

ibta

Ibotta, Inc. Street Expectations Map

IBTA · NYSE

Wall Street analysts project that IBTA stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 42.50, with estimates ranging from a low of 40.00 to a high of 45.00.

Lowest Target
40.00
22.85%
Consensus Target
42.50
30.53%
Highest Target
45.00
38.21%

The consensus 1-year price target stands at 42.50, with estimates ranging from a low of 40.00 to a high of 45.00.

Analyst Consensus Analysis

Upside Potential

+30.5%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

11.8% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

ibta

Ibotta, Inc. Insider Positioning

IBTA · NYSE

During the last 12 months, insiders have purchased $76K and sold $56.86M worth of IBTA shares, resulting in $56.78M of net selling activity.

3 Months

Bought

0

0.00

Sold

45.5K

1.46M

Net Activity

-1.5M

-$1.46M

3-6 Months

Bought

0

0.00

Sold

3.0K

71.12K

Net Activity

-71K

-$71K

6-9 Months

Bought

14.2K

75.79K

Sold

10

235.00

Net Activity

+76K

+$76K

9-12 Months

Bought

0

0.00

Sold

1.6M

55.33M

Net Activity

-55.3M

-$55.33M

Top Buyers

1
SLR

Swanson Luke Roy

Officer: Chief Technology Officer

14.2K shares1 transactions

$76K

Top Sellers

1
CJFFIL

Clark Jermoluk Founders Fund I Llc

10 Percent Owner

1.6M shares1 transactions

$55.25M

2
LTD

Lehrman Thomas D

Director

45.5K shares4 transactions

$1.46M

3
DM

Daspit Marisa

Officer: Chief People Officer

5.9K shares3 transactions

$151K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $56.78M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$1.46M

Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.

Insider Participation

High Selling

3 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

No Dividend Yield Data

IBTA has not reported any dividend yield values in the available annual periods.

 

ibta Dividend History

IBTA
10Y CAGR 26%
Latest $0.001
Annual $0.056
Stable dividend payments
Last Period: +0%