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NerdWallet, Inc.

Rank #2Hypergrowth

NRDS · Nasdaq · Communication Services

NerdWallet, Inc. (NRDS) — Rank #2 by gross profitability (GP/assets 1.85) · ROE 14.9% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001625278 · all metrics point-in-time as of the filing date.

About

NerdWallet, Inc. operates a digital platform that provides financial guidance to consumers and small and mid-sized businesses (SMB) in the United States, the United Kingdom, Australia, and Canada.

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It offers editorial and content publishing, a consumer and SMB financial education, tools, calculators, guides, and research published under the NerdWallet brand; Marketplace And Referral Services, a tool that enable users to compare, pre-qualify for, or connect with third-party providers of credit cards, consumer loans, small business loans, insurance, mortgages, financial services, and related products, as well as services including fundera, nerdwallet insurance services, nerdwallet advisory, and nerdwallet compare; and Financial Services, a brokerage and advisory services provided by insurance agency, loan and mortgage brokerages, and investment advisory subsidiaries. Additionally, the company provides finance and refinance facilities to students for education. NerdWallet, Inc.

was founded in 2009 and is based in San Mateo, California.

Industry
Internet Content & Information
Sector
Communication Services
State
DE
Filer Category
Accelerated filerEmerging growth company
Fiscal Year End
December 31

Price History

NRDS-66.7% · -20.4% CAGRSPY+74.6% · +12.2% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$603.12M

P/E (annual)

14.7

P/S (annual)

0.7

P/B

1.9

P/OCF (annual)

4.6

Shareholder Yield

3.8%

Employees

650

Industry

Internet Content & Information

Exchange

Nasdaq

Signal Flags

3 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
1.85
Return on equity
14.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.28
Current ratio
2.62×
Net cash
$62.00M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
3.4%

Growth

2/2 pass
Revenue growth
21.7%
Piotroski F-Score
N/A
Share dilution
-3.8%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

-10.6%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -3.8% — per-share value needs a total required return of -14.4% once share-count change is priced in.

vs. own 6-year median revenue growth: 31.8%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-13.8%

r = 10% (base)

-10.6%

r = 12%

-7.9%

Net debt / market cap: -8.7%

Note: current FCF margin is 1.5σ above its historical mean — implied growth may understate valuation risk if the margin reverts.

Base FCF: $130.3M3Y mean FCF: $91M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

16.1xCheap
16.1xmed 32.4x140.4x

P / S

Price / revenue per share

0.9xCheap
0.9xmed 2.0x3.0x

P / B

Price / book value per share

2.1xCheap
2.1xmed 3.3x85.8x

P / GP

Price / gross profit per share

1.0xCheap
1.0xmed 2.2x3.2x

P / FCF

Price / free cash flow per share

6.0xCheap
6.0xmed 22.4x133.9x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

1.85

Primary signal (Novy-Marx).

1st of 13 SIC 7374 peers

Return on equity

14.9%

Gross margin

92.4%

1st of 13 SIC 7374 peers

Revenue growth (YoY)

21.7%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.8%

Revenue CAGR (5Y)

27.8%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

85.5%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.28

3rd of 11 SIC 7374 peers (best = lowest)

Current ratio

2.62×

4th of 13 SIC 7374 peers

Quick ratio

2.28×

Net cash

$62.00M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$130.30M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.68

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

3.4%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Hypergrowth
Startup
Op. Leverage
View full financial statements →