Dave Inc./DE vs Qfin Holdings, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Dave and Qfin run nearly identical income statements from opposite hemispheres: net margins of 37.2% and 31.1%, both debt-free, both throwing off real cash. The market prices the American at 22.4 times earnings and the Chinese at 5, a 17-turn jurisdiction discount on the same shape of business, consumer credit delivered through an app. Qfin's 36% free-cash yield is the sort of number that only exists where nobody believes it will last; Dave's 6.5% is priced as durable. Returns on assets, 42.4% against 10.5%, favor Dave honestly. The pair reduces to one exchange rate: how many multiple turns is an American charter worth? Here, about seventeen.
Comparison updated 2026-07-10.
| Metric | DAVE | QFIN |
|---|---|---|
| Price | $348.69 | $15.82 |
| Market cap | $5.0B | $4.3B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Mature |
| P/E | 22.4 | 5.0 |
| P/B | 24.64 | 1.25 |
| P/S | 8.30 | 1.57 |
| EV/EBITDA | 3009.7 | 3.8 |
| Revenue growth | +59.1% | +1.7% |
| Operating margin | — | 34.8% |
| Net margin | 37.2% | 31.1% |
| Return on equity | 110.4% | 24.7% |
| Return on assets | 42.4% | 10.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 3.86 | 2.43 |
| Altman Z (solvency) | 8.21 | 2.49 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.