Chime Financial, Inc.
CHYMdata completeness 88%3 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
Chime Financial, Inc. earns about -72% on equity, below its ~9% cost of capital, but has diluted owners by 274% over 3 years — no moat visible in the numbers. The estimate methods put fair value between $4.44 and $4.65 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue | $1.28B1 | $1.67B1 | $2.19B1 |
| Net income | −$203.2M2 | −$25.3M2 | −$1.01B2 |
| Operating cash flow | −$156.6M3 | $64.1M3 | $52.8M3 |
| Capital expenditure | $10.5M4 | $4.81M4 | $19.9M4 |
| Free cash flow (derived) | −$167.1M3 | $59.3M3 | $32.9M3 |
| Total debt | — | — | — |
| Cash & equivalents | $239.7M5 | $337.7M5 | $466.3M5 |
| Diluted shares | 63.1M | 64.9M | 236.3M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $59.33 of net worth that earned you −$42.74 and generated $1.39 of cash last year.
It earned about -72% on equity against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 274% over 3 years — owners have been diluted. Worth asking what they got for it.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 2 estimate methods that apply put fair value between $4.44 and $4.65 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$32.9M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$32.9M
Different models answer different questions — which to trust when →
| Bear | 0.0% | $3.96 |
| Base | 5.0% | $4.44 |
| Bull | 10.0% | $5.02 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2023-12-31 · accession 0001795586-26-000013 (Revenues)
- 10-K · period ending 2023-12-31 · accession 0001795586-26-000013 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001795586-26-000013 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001795586-26-000013 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2023-12-31 · accession 0001795586-26-000013 (CashAndCashEquivalentsAtCarryingValue)