Detailed financial statements for Green Dot Corporation (GDOT): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Green Dot Corporation operates as a financial technology and bank holding company, delivering a broad spectrum of financial products and services to individuals and businesses throughout the United States. Its business is organized into three principal segments: Consumer Services, Business-to-Business Solutions, and Money Movement Services.
Analysis Summary
Green Dot Corporation reported revenue of $2.08B in the most recent fiscal year, growing at a 5-year CAGR of 10.7%.
Trailing-twelve-month margins: gross margin 24.5%, operating margin 0.7%, net margin -1.1%. Free cash flow grew at -15.2% CAGR over 5 years.
At the current price of $13.26, GDOT has negative trailing earnings (P/E not meaningful) and an ROE of -2.82%. Market capitalisation stands at $752M.
Balance sheet quality for GDOT: current ratio of 0.5, net cash position of $1.36B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $726.1M | $901.1M | $1.07B | $1.11B | $1.25B | $1.43B | $1.45B | $1.50B | $1.72B | $2.08B |
| Cost of Revenue | $276.1M | $361.5M | $407.8M | $399.1M | $527.6M | $654.1M | $725.7M | $880.8M | $1.14B | $1.57B |
| Gross Profit | $450.0M | $539.6M | $657.7M | $709.5M | $726.1M | $779.1M | $723.9M | $620.5M | $580.1M | $510.1M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $388.4M | $436.2M | $532.4M | $586.6M | $696.8M | $712.8M | $629.8M | $600.9M | $587.3M | $559.9M |
| Operating Expenses | $386.7M | $430.3M | $527.3M | $586.6M | $696.1M | $712.6M | $629.5M | $597.9M | $581.7M | $454.9M |
| Operating Income | $63.3M | $109.3M | $130.4M | $122.9M | $30.1M | $66.5M | $94.4M | $22.7M | -$1.7M | $55.2M |
| EBITDA | $124.0M | $168.0M | $196.7M | $203.2M | $115.4M | $151.1M | $174.7M | $102.6M | $77.5M | $140.7M |
| Interest Expense | $9.1M | $5.8M | $5.0M | 0 | $761000 | $150000 | $255000 | 0 | $5.5M | $6.2M |
| Pre-tax Income | $61.6M | $103.5M | $123.8M | $121.1M | $28.1M | $63.7M | $83.9M | $14.6M | -$22.5M | -$97.3M |
| Income Tax | $20.0M | $17.6M | $5.1M | $21.2M | $5.0M | $16.2M | $19.7M | $7.9M | $4.2M | $1.6M |
| Net Income | $41.6M | $85.9M | $118.7M | $99.9M | $23.1M | $47.5M | $64.2M | $6.7M | -$26.7M | -$98.9M |
| EPS | $0.82 | $1.70 | $2.27 | $1.91 | $0.43 | $0.87 | $1.20 | $0.13 | $-0.50 | $-1.79 |
| EPS (Diluted) | $0.80 | $1.61 | $2.18 | $1.88 | $0.42 | $0.85 | $1.19 | $0.13 | $-0.50 | $-1.79 |
| Shares Outstanding (Diluted) | $50.8M | $53.2M | $54.5M | $53.1M | $53.7M | $55.2M | $53.9M | $52.5M | $53.5M | $55.1M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | $494.8M | $522.6M | $656.2M | $595.9M |
| Gross Profit | $120.5M | $117.5M | $198.6M | $118.4M |
| Operating Income | -$32.8M | -$27.0M | $70.9M | $4.9M |
| EBITDA | $7.0M | -$4.6M | $94.1M | $28.7M |
| Net Income | -$30.8M | -$46.8M | $53.8M | -$2.1M |
| EPS | $-0.56 | $-0.84 | $0.96 | $-0.04 |
| EPS (Diluted) | $-0.56 | $-0.84 | $0.93 | $-0.04 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $732.7M | $919.2M | $1.09B | $1.06B | $1.49B | $1.32B | $813.9M | $682.3M | $1.59B | $1.42B |
| Short-term Investments | $46.7M | $11.9M | $20.0M | $10.0M | 0 | 0 | 0 | $33.9M | $24.2M | 0 |
| Receivables | $36.0M | $26.5M | $30.1M | $34.1M | $46.3M | $61.1M | $45.5M | $68.2M | $85.4M | $197.2M |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $1.01B | $1.32B | $1.38B | $1.44B | $2.41B | $1.81B | $1.47B | $1.64B | $2.43B | $2.64B |
| Property, Plant & Equipment | $82.6M | $97.3M | $120.3M | $171.8M | $146.5M | $146.3M | $168.5M | $184.7M | $199.2M | $199.4M |
| Goodwill | $208.4M | $301.8M | $301.8M | $301.8M | $301.8M | $301.8M | $301.8M | $301.8M | $301.8M | $301.8M |
| Intangible Assets | $242.7M | $280.6M | $249.3M | $219.2M | $190.0M | $165.2M | $143.3M | $118.7M | $96.2M | $72.6M |
| Total Assets | $1.74B | $2.20B | $2.29B | $2.46B | $4.12B | $4.73B | $4.79B | $4.82B | $5.43B | $5.99B |
| Accounts Payable | $22.9M | $34.9M | $38.6M | $37.9M | $34.8M | $51.4M | $113.9M | $119.9M | $103.8M | $114.7M |
| Short-term Debt | $21.0M | $20.9M | $58.7M | $380000 | $235000 | 0 | 0 | $61.0M | 0 | 0 |
| Total Current Liabilities | $960.8M | $1.34B | $1.34B | $1.45B | $3.08B | $3.64B | $3.96B | $3.95B | $4.50B | $5.03B |
| Long-term Debt | $79.7M | $58.7M | 0 | $35.0M | 0 | 0 | $35.0M | 0 | $48.5M | $63.5M |
| Total Liabilities | $1.06B | $1.43B | $1.38B | $1.53B | $3.11B | $3.65B | $4.01B | $3.96B | $4.56B | $5.09B |
| Retained Earnings | $325.7M | $410.4M | $529.1M | $629.0M | $651.9M | $699.4M | $763.6M | $770.3M | $743.6M | $644.7M |
| Total Equity | $683.7M | $764.5M | $909.8M | $927.4M | $1.01B | $1.07B | $781.5M | $859.4M | $873.6M | $890.2M |
| Total Debt | $100.7M | $79.6M | $58.7M | $68.6M | $24.8M | $15.1M | $43.4M | $67.1M | $59.6M | $65.5M |
| Net Debt | -$678.7M | -$851.5M | -$1.06B | -$1.00B | -$1.47B | -$1.31B | -$770.5M | -$649.1M | -$1.56B | -$1.36B |
| Working Capital | $52.6M | -$14.8M | $38.6M | -$3.1M | -$664.1M | -$1.83B | -$2.50B | -$2.32B | -$2.07B | -$2.39B |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $1.64B | $1.42B | $1.65B | $1.14B |
| Total Assets | $5.77B | $5.99B | $6.65B | $6.19B |
| Total Liabilities | $4.85B | $5.09B | $5.71B | $5.25B |
| Total Equity | $913.3M | $890.2M | $940.5M | $939.4M |
| Total Debt | $66.5M | $65.5M | $565.5M | $65.5M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $41.6M | $85.9M | $118.7M | $99.9M | $23.1M | $47.5M | $64.2M | $6.7M | -$26.7M | -$98.9M |
| Depreciation & Amortization | $62.5M | $64.6M | $71.3M | $82.1M | $86.1M | $84.8M | $80.6M | $83.0M | $84.7M | $85.5M |
| Stock-based Compensation | $28.3M | $40.7M | $50.1M | $29.6M | $53.7M | $51.4M | $34.8M | $33.7M | $29.9M | $18.7M |
| Change in Working Capital | -$94.5M | -$47.6M | -$8.2M | -$37.5M | $28.6M | -$65.3M | $44.8M | -$68.1M | -$62.2M | -$21.1M |
| Operating Cash Flow | $114.5M | $218.3M | $251.1M | $189.9M | $209.2M | $167.0M | $277.7M | $97.5M | $81.4M | $138.6M |
| Capital Expenditure | -$43.3M | -$44.1M | -$61.0M | -$78.2M | -$59.0M | -$57.4M | -$84.3M | -$75.9M | -$74.3M | -$72.5M |
| Acquisitions | 0 | -$141.5M | 0 | 0 | -$35.0M | -$35.0M | -$35.0M | -$35.0M | -$35.0M | 0 |
| Stock Repurchased | -$59.0M | -$52.0M | 0 | -$100.0M | 0 | 0 | -$95.5M | -$3.9M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | $71.2M | $174.2M | $190.0M | $111.7M | $150.1M | $109.6M | $193.4M | $21.6M | $7.1M | $66.0M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | $23.3M | -$62.5M | $95.1M | $99.6M |
| Capital Expenditure | -$19.8M | -$19.4M | -$19.0M | $19.0M |
| Free Cash Flow | $3.5M | -$81.9M | $76.0M | $118.7M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $5.3M | $4.7M | $4.5M | $3.3M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +24.1% | +18.2% | +4.0% | +13.1% | +14.3% | +1.1% | +3.6% | +14.8% | +20.7% | |
| Net Income Growth (YoY) | +106.5% | +38.2% | -15.8% | -76.8% | +105.3% | +35.2% | -89.5% | -497.2% | -270.3% | |
| EPS Growth (YoY) | +107.3% | +33.5% | -15.9% | -77.5% | +102.3% | +37.9% | -89.2% | -484.6% | -258.0% | |
| Shares Change (YoY) | +4.7% | +2.4% | -2.5% | +1.0% | +2.9% | -2.4% | -2.5% | +1.9% | +2.9% | |
| FCF Growth (YoY) | +144.5% | +9.1% | -41.2% | +34.4% | -27.0% | +76.4% | -88.8% | -67.1% | +830.3% | |
| Gross Margin | 62.0% | 59.9% | 61.7% | 64.0% | 57.9% | 54.4% | 49.9% | 41.3% | 33.6% | 24.5% |
| Operating Margin | 8.7% | 12.1% | 12.2% | 11.1% | 2.4% | 4.6% | 6.5% | 1.5% | -0.1% | 2.7% |
| EBITDA Margin | 17.1% | 18.6% | 18.5% | 18.3% | 9.2% | 10.5% | 12.1% | 6.8% | 4.5% | 6.8% |
| Net Margin | 5.7% | 9.5% | 11.1% | 9.0% | 1.8% | 3.3% | 4.4% | 0.4% | -1.5% | -4.8% |
| FCF Margin | 9.8% | 19.3% | 17.8% | 10.1% | 12.0% | 7.6% | 13.3% | 1.4% | 0.4% | 3.2% |
| Effective Tax Rate | 32.4% | 17.0% | 4.1% | 17.5% | 17.7% | 25.5% | 23.5% | 54.1% | -18.5% | -1.6% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $1.40 | $3.27 | $3.49 | $2.10 | $2.80 | $1.98 | $3.59 | $0.41 | $0.13 | $1.20 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $49.5M | $50.5M | $52.2M | $52.2M | $52.4M | $54.1M | $53.4M | $52.3M | $53.5M | $55.1M |
What to look at in Financial Services
Asset managers, brokers, fintech, exchanges. They are not banks — look at AUM, fees and FCF quality.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — Good asset managers have >30% margins thanks to scalability
- ROE — Quality financial services have a consistent ROE >15%
- FCF / Net Income — Earnings quality — >90% expected in capital-light businesses
- Debt / Equity — Fintech and brokers with high D/E are time bombs in crises
- P/E vs own 5y — Asset managers have stable multiples in well-known ranges
- Dividend yield + buybacks — These businesses return a lot of capital — look at total yield (div + buybacks)
Profitability
| Return on Equity | -2.82% |
| Return on Invested Capital | 1.59% |
| Return on Assets | -0.42% |
| Gross Margin | 24.46% |
| Operating Margin | 0.70% |
| Net Margin | -1.14% |
Financial Health
| Debt / Equity | 0.07 |
| Current Ratio | 0.45 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.13 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 28.72 | 35.45 | 35.03 | 12.20 | 129.77 | 41.66 | 13.18 | 76.15 | -21.28 | -7.16 |
| P/B | 1.71 | 3.98 | 4.56 | 1.31 | 2.90 | 1.83 | 1.08 | 0.60 | 0.65 | 0.79 |
| P/S | 1.61 | 3.38 | 3.90 | 1.10 | 2.33 | 1.37 | 0.58 | 0.34 | 0.33 | 0.34 |
| Gross Margin | 62.0% | 59.9% | 61.7% | 64.0% | 57.9% | 54.4% | 49.9% | 41.3% | 33.6% | 24.5% |
| Operating Margin | 8.7% | 12.1% | 12.2% | 11.1% | 2.4% | 4.6% | 6.5% | 1.5% | -0.1% | 2.7% |
| Net Margin | 5.7% | 9.5% | 11.1% | 9.0% | 1.8% | 3.3% | 4.4% | 0.4% | -1.5% | -4.8% |
Related companies: AMRK · BOH · EGBN · MCBS · NEWTH · NRDS · OPY
Explore sector: Financial Services · Financial - Credit Services
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