Fundamentals snapshot
GDOT · NYQ · Financial Services · Credit Services
Current price
$13.25
52-week range
$10.10 - $15.41
Market cap
$755.05M
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $1.08B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Green Dot provides banking-like services, such as prepaid debit cards and checking accounts, often through major retailers. The company makes money from fees on these accounts and by powering payment services for partners like Uber or helping people get their tax refunds quickly. This is important because Green Dot's technology makes financial tools accessible to millions of people who might not use a traditional bank, while also serving large corporate clients.
Green Dot was founded in 1999, initially offering prepaid debit cards for teenagers to use for online shopping. The company soon shifted its focus to serve individuals who didn't have traditional bank accounts, a group often called the "unbanked" or "underbanked." A major turning point came in 2011 when Green Dot acquired a bank, which allowed it to issue its own debit cards and have more control over its products. Over the years, it has grown by acquiring other financial and technology companies and now also provides its technology to major companies like Apple and Uber.
Green Dot is a financial technology company that operates as a "branchless bank," meaning it doesn't have physical locations for customers to visit. It provides a range of financial products, including checking accounts, prepaid debit cards, and secured credit cards, which you might see at major retailers like Walmart and CVS. The company also powers the financial services of other large technology companies, essentially providing the banking infrastructure behind their products. Through a large network of retail stores, customers can add cash to their accounts or pay bills.
This part of the business offers financial products directly to people. This includes GO2bank, a mobile-first bank account, as well as prepaid debit cards and secured credit cards that are sold in over 90,000 retail stores. Customers pay for these services through monthly fees, fees for certain transactions, or other service charges. This segment targets consumers who may not use traditional banks and prefer to manage their money through retail stores and mobile apps.
This is Green Dot's fastest-growing segment, where it partners with other companies to provide banking services. This is often called "Banking as a Service" (BaaS), where Green Dot's technology platform allows other brands, like Apple Cash and Uber, to offer their own customized banking and payment solutions. It also includes services for employers, such as providing payroll cards to employees. These business partners pay Green Dot for providing the underlying financial infrastructure and managing the programs.
This segment focuses on the services that help people move their money. It includes cash transfer services, allowing customers to deposit cash into their accounts at retail stores, and tax refund processing services. For example, you could use a Green Dot service called MoneyPak to add cash to a prepaid card. The company makes money on these services by charging a fee for each transaction.
The company is heavily focused on expanding its "Banking as a Service" (BaaS) platform, where it provides the financial technology for other large companies. This strategy involves partnering with major consumer and tech brands to embed Green Dot's banking solutions into their own products. Management believes this is a large and growing market and is investing in its technology and compliance (following banking rules and regulations) to attract more partners. They are also working to make their consumer products more digital to keep up with the shift away from physical retail locations.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $1.1B - more cash than debt. Interest coverage 116.2x.
Green Dot Corporation's profit covers its interest bill about 116.2 times over. which is stronger than every peer shown here.
Total debt $65.51M Interest coverage 116.20x This is the baseline the peer rows are being compared against.
Total debt $2.10B Interest coverage 11.26x -90% vs GDOT Carries about 10.3x less debt cushion than GDOT.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
Metric explainer
Debt comparison
What you should know