Is Dave, Inc. overvalued or undervalued?

As of 6 August 2025, the valuation grade for Dave, Inc. moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is overvalued, as evidenced by its P/E ratio of 54, which is substantially higher than the peer average P/E of 33.11, and an EV to EBITDA ratio of 40.98 compared to the peer average of 24.35. Additionally, the PEG ratio of 0.21 suggests that despite high growth expectations, the current valuation is not justified.
In comparison to its peers, Dave, Inc. shows a stark contrast with its elevated valuation metrics, particularly in the Major Banks industry. The company's strong returns, including a YTD return of 162.08% compared to the S&P 500's 12.22%, highlight its recent performance; however, this does not mitigate the concerns regarding its current valuation levels.