NASDAQ : NRDS
NerdWallet, Inc. — Financial statements
Communication Services · Internet Content & Information · United States
Last price 11.35 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 725.53M
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Financial statements
NerdWallet, Inc. (NRDS) reported revenue of 860.00M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 860.00M | 836.60M | 687.60M | 599.40M | 538.90M | 379.60M |
| Cost of Revenue | 55.90M | 63.70M | 63.50M | 54.00M | 39.80M | 28.50M |
| Gross Profit | 804.10M | 772.90M | 624.10M | 545.40M | 499.10M | 351.10M |
| Selling, General & Admin | 648.70M | 641.00M | 529.00M | 459.90M | 430.30M | 309.80M |
| Research & Development | 66.30M | 66.70M | 76.70M | 80.50M | 77.60M | 62.20M |
| Operating Expenses | 715.00M | 707.70M | 605.70M | 540.40M | 507.90M | 372.00M |
| Operating Income | 89.10M | 65.20M | 18.40M | 5.00M | -8.80M | -20.90M |
| Interest Expense | -600.00K | -600.00K | -700.00K | -800.00K | -2.50M | -1.30M |
| Interest & Investment Income | 3.00M | 3.20M | 4.80M | 3.60M | 1.50M | |
| Currency Exchange Gain (Loss) | 400.00K | 400.00K | -400.00K | -100.00K | ||
| Other Non Operating Income (Expenses) | -100.00K | 1.10M | ||||
| EBT Excluding Unusual Items | 91.80M | 68.20M | 22.10M | 7.70M | -9.80M | -21.10M |
| Merger & Restructuring Charges | -1.10M | -9.00M | -3.50M | |||
| Gain (Loss) on Sale of Investments | -8.10M | |||||
| Asset Writedown | -1.40M | |||||
| Other Unusual Items | -6.70M | -16.60M | ||||
| Pretax Income | 90.70M | 68.20M | 5.00M | 6.30M | -20.00M | -37.70M |
| Income Tax Expense | 25.70M | 19.50M | -25.40M | 18.10M | -9.80M | 4.80M |
| Net Income | 65.00M | 48.70M | 30.40M | -11.80M | -10.20M | -42.50M |
| Net Income to Common | 65.00M | 48.70M | 30.40M | -11.80M | -10.20M | -42.50M |
| Shares Outstanding (Basic) | 70.35M | 74.30M | 76.50M | 76.70M | 70.60M | 51.90M |
| Shares Outstanding (Diluted) | 71.55M | 75.90M | 78.90M | 76.70M | 70.60M | 51.90M |
| EPS (Basic) | 0.92 | 0.66 | 0.40 | -0.15 | -0.14 | -0.82 |
| EPS (Diluted) | 0.91 | 0.64 | 0.38 | -0.15 | -0.14 | -0.82 |
| Free Cash Flow | 163.40M | 130.30M | 71.20M | 71.40M | 20.40M | 4.90M |
| Free Cash Flow Per Share | 2.28 | 1.72 | 0.90 | 0.93 | 0.29 | 0.09 |
| Gross Margin | 93.50% | 92.39% | 90.77% | 90.99% | 92.62% | 92.49% |
| Operating Margin | 10.36% | 7.79% | 2.68% | 0.83% | -1.63% | -5.51% |
| Profit Margin | 7.56% | 5.82% | 4.42% | -1.97% | -1.89% | -11.20% |
| Free Cash Flow Margin | 19.00% | 15.57% | 10.36% | 11.91% | 3.79% | 1.29% |
| EBITDA | 104.70M | 80.40M | 34.00M | 24.30M | 6.10M | -10.50M |
| EBITDA Margin | 12.17% | 9.61% | 4.95% | 4.05% | 1.13% | -2.77% |
| D&A For EBITDA | 15.60M | 15.20M | 15.60M | 19.30M | 14.90M | 10.40M |
| EBIT | 89.10M | 65.20M | 18.40M | 5.00M | -8.80M | -20.90M |
| EBIT Margin | 10.36% | 7.79% | 2.68% | 0.83% | -1.63% | -5.51% |
| Effective Tax Rate | 28.34% | 28.59% | 287.30% | |||
| Advertising Expenses | 486.40M | 370.30M | 294.70M | 278.90M | 197.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 62.00M | 98.30M | 66.30M | 100.40M | 83.90M | 167.80M |
| Short-Term Investments | 2.30M | 2.20M | 2.10M | 2.00M | 2.00M | |
| Cash & Short-Term Investments | 62.00M | 100.60M | 68.50M | 102.50M | 85.90M | 169.80M |
| Accounts Receivable | 120.00M | 114.50M | 109.00M | 81.00M | 92.80M | 60.60M |
| Other Receivables | 9.90M | 300.00K | ||||
| Receivables | 120.00M | 124.40M | 109.30M | 81.00M | 92.80M | 60.60M |
| Prepaid Expenses | 19.30M | 12.20M | 14.60M | 13.50M | 10.40M | 12.00M |
| Other Current Assets | 7.50M | 4.30M | 1.40M | 100.00K | 400.00K | |
| Total Current Assets | 201.30M | 244.70M | 196.70M | 198.40M | 189.20M | 242.80M |
| Property, Plant & Equipment | 35.40M | 38.90M | 48.30M | 59.80M | 60.40M | 48.80M |
| Goodwill | 136.30M | 123.50M | 112.40M | 111.50M | 111.20M | 43.80M |
| Other Intangible Assets | 19.10M | 21.50M | 33.30M | 46.90M | 64.10M | 27.60M |
| Long-Term Deferred Tax Assets | 20.90M | 29.40M | 45.60M | |||
| Other Long-Term Assets | 5.00M | 3.10M | 1.30M | 2.00M | 800.00K | 1.10M |
| Total Assets | 418.00M | 461.10M | 437.60M | 418.60M | 425.70M | 364.10M |
| Accounts Payable | 12.70M | 5.40M | 8.90M | 1.70M | 3.60M | 3.20M |
| Accrued Expenses | 9.70M | 9.30M | 9.60M | 6.90M | 7.00M | 7.60M |
| Short-Term Debt | 5.10M | 6.90M | 2.50M | |||
| Current Portion of Leases | 2.00M | 1.90M | 2.30M | 3.40M | 3.10M | 2.40M |
| Current Income Taxes Payable | 500.00K | 3.10M | ||||
| Current Unearned Revenue | 4.10M | |||||
| Other Current Liabilities | 47.40M | 46.90M | 33.70M | 21.20M | 58.70M | 52.60M |
| Total Current Liabilities | 76.90M | 70.90M | 60.10M | 37.30M | 72.40M | 65.80M |
| Long-Term Leases | 5.10M | 6.10M | 4.10M | 6.20M | 9.60M | 12.70M |
| Long-Term Deferred Tax Liabilities | 700.00K | 1.20M | 1.80M | |||
| Other Long-Term Liabilities | 10.20M | 9.60M | 9.20M | 7.50M | 800.00K | 26.20M |
| Total Liabilities | 92.20M | 86.60M | 73.40M | 51.70M | 84.00M | 106.50M |
| Additional Paid-In Capital | 578.60M | 562.50M | 530.90M | 483.70M | 427.30M | 331.60M |
| Retained Earnings | -252.60M | -188.10M | -166.50M | -116.50M | -84.70M | -74.50M |
| Comprehensive Income & Other | -200.00K | 100.00K | -200.00K | -300.00K | -900.00K | 500.00K |
| Total Common Equity | 325.80M | 374.50M | 364.20M | 366.90M | 341.70M | 257.60M |
| Shareholders' Equity | 325.80M | 374.50M | 364.20M | 366.90M | 341.70M | 257.60M |
| Total Liabilities & Equity | 418.00M | 461.10M | 437.60M | 418.60M | 425.70M | 364.10M |
| Total Debt | 12.20M | 14.90M | 8.90M | 9.60M | 12.70M | 15.10M |
| Net Cash (Debt) | 49.80M | 85.70M | 59.60M | 92.90M | 73.20M | 154.70M |
| Net Cash Per Share | 0.70 | 1.13 | 0.76 | 1.21 | 1.04 | 2.98 |
| Filing Date Shares Outstanding | 63.92M | 66.79M | 74.11M | 77.01M | 75.84M | 67.07M |
| Total Common Shares Outstanding | 63.88M | 71.29M | 74.10M | 77.00M | 75.10M | 66.70M |
| Working Capital | 124.40M | 173.80M | 136.60M | 161.10M | 116.80M | 177.00M |
| Book Value Per Share | 5.10 | 5.25 | 4.91 | 4.76 | 4.55 | 3.86 |
| Tangible Book Value | 170.40M | 229.50M | 218.50M | 208.50M | 166.40M | 186.20M |
| Tangible Book Value Per Share | 2.67 | 3.22 | 2.95 | 2.71 | 2.22 | 2.79 |
| Machinery | 4.80M | 5.60M | 5.90M | 8.50M | 6.70M | |
| Leasehold Improvements | 1.40M | 2.30M | 2.30M | 2.30M | 3.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 65.00M | 48.70M | 30.40M | -11.80M | -10.20M | -42.50M |
| Depreciation & Amortization | 15.60M | 15.20M | 15.60M | 19.30M | 14.90M | 10.40M |
| Other Amortization | 24.50M | 31.20M | 32.80M | 28.90M | 22.10M | 16.70M |
| Stock-Based Compensation | 27.60M | 28.60M | 37.70M | 38.80M | 34.40M | 17.90M |
| Other Operating Activities | 30.30M | 20.00M | -35.30M | 5.20M | -2.00M | 28.30M |
| Change in Accounts Receivable | -15.20M | -9.40M | -27.00M | 10.70M | -18.70M | -20.20M |
| Change in Accounts Payable | -2.30M | -3.60M | 6.60M | -1.80M | -5.60M | -2.20M |
| Change in Other Net Operating Assets | 18.80M | 900.00K | 11.00M | -17.20M | -9.90M | -1.20M |
| Operating Cash Flow | 164.30M | 131.60M | 71.80M | 72.10M | 25.00M | 7.20M |
| Capital Expenditures | -900.00K | -1.30M | -600.00K | -700.00K | -4.60M | -2.30M |
| Cash Acquisitions | -24.20M | -13.10M | -300.00K | -68.10M | ||
| Sale (Purchase) of Intangibles | -16.20M | -16.90M | -20.70M | -28.80M | -27.60M | -20.70M |
| Investment in Securities | -1.70M | -2.00M | -8.10M | |||
| Investing Cash Flow | -43.00M | -33.30M | -29.70M | -29.50M | -100.30M | -23.00M |
| Short-Term Debt Issued | 4.40M | 7.50M | 70.00M | |||
| Total Debt Issued | -4.30M | 4.40M | 7.50M | 70.00M | ||
| Short-Term Debt Repaid | -2.00M | -7.50M | -70.00M | |||
| Long-Term Debt Repaid | -28.50M | |||||
| Total Debt Repaid | -1.70M | -2.00M | -7.50M | -70.00M | -28.50M | |
| Net Debt Issued (Repaid) | -6.00M | 4.40M | -2.00M | -28.50M | ||
| Issuance of Common Stock | 3.80M | 3.20M | 7.70M | 13.20M | 12.20M | 151.00M |
| Repurchase of Common Stock | -162.20M | -73.70M | -82.20M | -21.10M | -600.00K | -14.80M |
| Other Financing Activities | -18.30M | -20.00M | -5.40M | |||
| Financing Cash Flow | -164.40M | -66.10M | -76.50M | -26.20M | -8.40M | 100.20M |
| Foreign Exchange Rate Adjustments | -200.00K | -200.00K | 300.00K | 100.00K | -200.00K | |
| Net Cash Flow | -43.30M | 32.00M | -34.10M | 16.50M | -83.90M | 84.40M |
| Free Cash Flow | 163.40M | 130.30M | 71.20M | 71.40M | 20.40M | 4.90M |
| Free Cash Flow Margin | 19.00% | 15.57% | 10.36% | 11.91% | 3.79% | 1.29% |
| Free Cash Flow Per Share | 2.28 | 1.72 | 0.90 | 0.93 | 0.29 | 0.09 |
| Levered Free Cash Flow | 113.51M | 88.08M | 64.96M | 32.12M | 7.74M | 25.93M |
| Unlevered Free Cash Flow | 113.89M | 88.45M | 65.40M | 32.62M | 9.30M | 26.74M |
| Cash Interest Paid | 400.00K | 300.00K | 300.00K | 300.00K | 1.90M | 2.50M |
| Cash Income Tax Paid | 15.10M | 16.00M | 13.50M | 4.00M | 300.00K | |
| Change in Working Capital | 1.30M | -12.10M | -9.40M | -8.30M | -34.20M | -23.60M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 703.15M | 985.26M | 976.74M | 1.12B | 713.61M | 1.02B |
| Enterprise Value | 653.35M | 878.96M | 911.94M | 1.04B | 658.61M | 1.07B |
| Last Close Price | 11.00 | 13.55 | 13.30 | 14.72 | 9.60 | 15.55 |
| PE Ratio | 12.07 | 20.23 | 32.13 | |||
| Forward PE | 11.34 | 15.17 | 50.34 | 78.30 | ||
| PS Ratio | 0.82 | 1.18 | 1.42 | 1.87 | 1.32 | 2.70 |
| PB Ratio | 2.16 | 2.63 | 2.68 | 3.05 | 2.09 | 3.97 |
| P/TBV Ratio | 4.13 | 4.29 | 4.47 | 5.37 | 4.29 | 5.50 |
| P/FCF Ratio | 4.30 | 7.56 | 13.72 | 15.69 | 34.98 | 208.93 |
| P/OCF Ratio | 4.28 | 7.49 | 13.60 | 15.54 | 28.54 | 142.19 |
| PEG Ratio | 1.60 | 1.60 | 1.60 | |||
| EV/Sales Ratio | 0.76 | 1.05 | 1.33 | 1.74 | 1.22 | 2.83 |
| EV/EBITDA Ratio | 6.24 | 10.93 | 26.82 | 42.98 | 107.97 | |
| EV/EBIT Ratio | 7.33 | 13.48 | 49.56 | 208.87 | ||
| EV/FCF Ratio | 4.00 | 6.75 | 12.81 | 14.63 | 32.28 | 219.37 |
| Debt / Equity Ratio | 0.04 | 0.04 | 0.02 | 0.03 | 0.04 | 0.06 |
| Debt / EBITDA Ratio | 0.11 | 0.18 | 0.24 | 0.35 | 1.34 | |
| Debt / FCF Ratio | 0.07 | 0.11 | 0.12 | 0.13 | 0.62 | 3.08 |
| Net Debt / Equity Ratio | -0.15 | -0.23 | -0.16 | -0.25 | -0.21 | -0.60 |
| Net Debt / EBITDA Ratio | -0.48 | -1.07 | -1.75 | -3.82 | -12.00 | 14.73 |
| Net Debt / FCF Ratio | -0.30 | -0.66 | -0.84 | -1.30 | -3.59 | -31.57 |
| Asset Turnover | 1.92 | 1.86 | 1.61 | 1.42 | 1.36 | 1.23 |
| Quick Ratio | 2.37 | 3.17 | 2.96 | 4.92 | 2.47 | 3.50 |
| Current Ratio | 2.62 | 3.45 | 3.27 | 5.32 | 2.61 | 3.69 |
| Return on Equity (ROE) | 18.16% | 13.18% | 8.32% | -3.33% | -3.40% | -20.78% |
| Return on Assets (ROA) | 12.46% | 9.07% | 2.69% | 0.74% | -1.39% | -4.22% |
| Return on Invested Capital (ROIC) | 22.08% | 15.69% | 6.36% | -3.45% | -4.74% | -19.53% |
| Return on Capital Employed (ROCE) | 26.10% | 16.70% | 4.90% | 1.30% | -2.50% | -7.00% |
| Earnings Yield | 8.28% | 4.94% | 3.11% | -1.05% | -1.43% | -4.15% |
| FCF Yield | 23.24% | 13.23% | 7.29% | 6.37% | 2.86% | 0.48% |
| Buyback Yield / Dilution | 8.62% | 3.80% | -2.87% | -8.64% | -36.03% | 7.81% |