What is Ibotta's return on invested capital?

Ibotta (IBTA) reported return on invested capital of -3.7% in Q1 2026.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Ibotta IBTA Return on invested capital

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Other financials

Income statement

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Revenue$82.5M-2.5%

Gross profit$63.0M-6.6%

Operating income-$10.8M-286%

Net income-$10.3M-1,960%

EPS (diluted)-$0.43-2,250%

Balance sheet

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Cash & equivalents$164.6M-44.7%

Total debt$25.3M-1.1%

Total equity$249.0M-38.0%

Total assets$479.9M-24.9%

Cash flow

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Operating cash flow$30.4M+52.9%

CapEx$3.1M+62.0%

Free cash flow$27.3M+52.0%

Valuation

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Market cap$744.33M-23.3%

Enterprise value$605.06M-13.4%

P/S2.2×-0.4×

Profitability

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Gross margin78.4%-6.2pp

Operating margin-2.6%-5.1pp

Net margin22.9%+19.9pp

FCF margin24.8%-6.0pp

Returns & leverage

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Return on equity22.8%+16.9pp

Debt / equity0.1×0.0×

Current ratio1.8×-0.9×

Where this comes from

Calculated from Ibotta’s reported figures.

nopat/invested capital=-3.7%

Based on trailing twelve months.

The official record: Ibotta’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ibotta's return on invested capital?: Ibotta (IBTA) reported return on invested capital of -3.7% in Q1 2026.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.