olivLaw · US equity research
Wealthfront Corporation WLTH
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
Wealthfront is a digital financial platform offering automated management of savings, investments and loans for digital-native generations. In its latest reported quarter revenue rose only slightly while platform assets approached 99.0 billion USD, and the shift in interest rates is redistributing flows between savings and investment products.
At the close of 04 Nov 2026, Wealthfront Corporation (WLTH) stock was 11.17 USD (+7.05% on the day), with market capitalisation 1.7 bn USD, beta 1.47, 52-week range 7.20–13.95 USD. Latest reported quarter (Q2 2027): revenue of 91.9 m USD (+0.8% YoY), net income of 17.8 m USD (−48.9% YoY), diluted EPS 0.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 58.8
- strong (55–70)
- Bollinger (20, 2)
- 10.06 – 11.30
- in the upper half of the band · %B 0.89 · band width 11.7%
- SMA 50 / 200
- 10.26 / 9.69
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.10 / 0.13
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +5.1% | −1.1% | +6.2 pp | — |
| 3 months | +15.7% | −0.5% | +16.2 pp | — |
| 6 months | −1.9% | +4.4% | −6.3 pp | — |
| Year to date | −17.8% | +12.3% | −30.2 pp | — |
| 1 year | unavailable | +13.5% | unavailable | −47.5% |
| 3 years | unavailable | +76.4% | unavailable | −48.3% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 80.3 m | 82.7 m | 84.5 m | 91.1 m | 93.2 m | 96.1 m | 90.5 m | 91.9 m |
| Cost of revenue | 8.0 m | 8.5 m | 8.7 m | 9.6 m | 10.2 m | 9.6 m | 10.0 m | 10.8 m |
| Research & development | 17.1 m | 18.1 m | 20.2 m | 21.2 m | 20.9 m | 150.1 m | 33.7 m | 34.0 m |
| Depreciation & amortisation | — | 1.8 m | 1.8 m | 1.9 m ≈ | 1.9 m ≈ | 1.8 m | 1.4 m | 1.2 m ≈ |
| Interest expense | 1.0 m | 253.0 k | 67.0 k | 99.0 k | 217.0 k | 508.0 k | 252.0 k | 255.0 k |
| Pre-tax income | 29.5 m | 31.5 m | 34.1 m | 39.9 m | 34.7 m | -210.0 m | 17.4 m | 20.4 m |
| Income tax | -519.0 k | -636.0 k | 8.2 m | 5.1 m | 3.8 m | -76.3 m | 4.6 m | 2.6 m |
| Net income | 30.0 m | 32.1 m | 25.9 m | 34.7 m | 30.9 m | -133.7 m | 12.8 m | 17.8 m |
| Diluted EPS | 0.22 | 0.23 ≈ | 0.18 | 0.24 | 0.21 | — | 0.07 | 0.10 |
| Operating cash flow | — | 19.9 m | 38.5 m | 38.9 m ≈ | 41.5 m ≈ | 33.3 m | 22.7 m | 47.3 m ≈ |
| Share repurchases | — | 13.6 m | 213.0 k | 25.0 k ≈ | 27.0 k ≈ | 194.0 k | 28.3 m | 31.8 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 216.7 m | 308.9 m | 365.0 m |
| Revenue YoY | unavailable | +42.5% | +18.2% |
| Net income | 77.0 m | 194.4 m | -42.1 m |
| Net income YoY | unavailable | +152.6% | −121.6% |
| Diluted EPS | 0.54 | 1.31 | -0.76 |
| Diluted EPS YoY | unavailable | +142.6% | −158.0% |
| net % | 35.5% | 63.0% | -11.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 440.8 m USD
- Financial debt
- 181.0 k USD
- Net debt
- -440.6 m USD
- Equity
- 614.7 m USD
- Total assets
- 1.4 bn USD
- Debt / equity
- 0.00x
- Current ratio
- 1.61x
- ROE
- -13.4%
- ROA
- -4.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 216.7 m | 308.9 m | 365.0 m | SEC (XBRL)· 24 Apr 2026verified |
| Cost of revenue | 22.9 m | 31.0 m | 38.0 m | SEC (XBRL)· 24 Apr 2026verified |
| Gross profit | 193.8 m ≈ | 277.9 m ≈ | 327.0 m ≈ | SEC (XBRL)· 24 Apr 2026derived |
| Research & development | 57.6 m | 64.5 m | 212.4 m | SEC (XBRL)· 24 Apr 2026verified |
| Depreciation & amortisation | 6.0 m | 6.2 m | 7.4 m | SEC (XBRL)· 24 Apr 2026verified |
| Interest expense | 2.0 m | 2.8 m | 891.0 k | SEC (XBRL)· 24 Apr 2026verified |
| Pre-tax income | 78.6 m | 139.2 m | -101.2 m | SEC (XBRL)· 24 Apr 2026verified |
| Income tax | 1.6 m | -55.2 m | -59.2 m | SEC (XBRL)· 24 Apr 2026verified |
| Net income | 77.0 m | 194.4 m | -42.1 m | SEC (XBRL)· 24 Apr 2026verified |
| Diluted EPS | 0.54 | 1.31 | -0.76 | SEC (XBRL)· 24 Apr 2026verified |
| Weighted average diluted shares | 143.9 m | 138.7 m | 56.9 m | SEC (XBRL)· 24 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 86.7 m | 142.9 m | 440.8 m | SEC (XBRL)· 24 Apr 2026verified |
| Receivables | — | 29.1 m | 33.1 m | SEC (XBRL)· 24 Apr 2026verified |
| Current assets | — | 346.5 m | 1.3 bn | SEC (XBRL)· 24 Apr 2026verified |
| Property, plant & equipment, net | — | 14.7 m | 7.8 m | SEC (XBRL)· 24 Apr 2026verified |
| Total assets | — | 435.2 m | 1.4 bn | SEC (XBRL)· 24 Apr 2026verified |
| Accounts payable | — | 6.5 m | 7.3 m | SEC (XBRL)· 24 Apr 2026verified |
| Short-term debt | — | — | 181.0 k | SEC (XBRL)· 14 Sept 2026verified |
| Current liabilities | — | 173.2 m | 792.8 m | SEC (XBRL)· 24 Apr 2026verified |
| Total liabilities | — | 192.7 m | 801.0 m | SEC (XBRL)· 24 Apr 2026verified |
| Equity | -180.9 m † | 15.3 m † | 614.7 m † | SEC (XBRL)· 24 Apr 2026verified |
| Shares outstanding at year end | — | — | 150.1 m | SEC (XBRL)· 23 Jan 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 72.9 m | 123.2 m | 152.2 m | SEC (XBRL)· 24 Apr 2026verified |
| Investing cash flow | -5.2 m | -5.8 m | -1.1 m | SEC (XBRL)· 24 Apr 2026verified |
| Financing cash flow | -39.5 m | -58.5 m | 148.2 m | SEC (XBRL)· 24 Apr 2026verified |
| Share repurchases | 0 | 37.0 m | 459.0 k | SEC (XBRL)· 24 Apr 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.7 bn USD
Key indicators
Coverage and freshness
Score by group
17% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -19.4% | 54 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.4x | 52 (on a fixed band) | 25% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.5% | 49 (on a fixed band) | 38% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial52/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial54/100 · 1/3 factors with a value
- Returns· partial49/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Wealthfront Corporation (WLTH). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 365.0 m USD in 2026; YoY growth 18.2%; net margin -19.4%; ROE -20.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 223.0 bn | 18.7 | 35.9% | 27.9% | +6.4% | −9% / +95% |
| ARBKArgo Blockchain PLC | 45.2 bn | — | — | -117.2% | −7.0% | −97% / −99% |
| COINCoinbase Global, Inc. | 40.1 bn | — | -4.7% | -12.5% | +9.4% | −44% / +21% |
| SOFISoFi Technologies, Inc. | 22.4 bn | 36.3 | 7.1% | 104.3% | +23.1% | −42% / +138% |
| MARAMara Holdings, Inc. | 2.7 bn | — | -107.2% | -430.2% | +38.2% | −42% / −43% |
| UPSTUpstart Holdings, Inc. | 2.3 bn | 39.9 | 8.0% | 4.9% | +64.0% | −48% / −13% |
| PURRHyperliquid Strategies Inc | 1.9 bn | 3.0 | 32.6% | 3,229.8% | unavailable | unavailable / unavailable |
| CLSKCleanSpark, Inc. | 1.7 bn | — | -68.6% | -130.2% | +102.2% | −55% / +9% |
| WLTHWealthfront Corporation | 1.7 bn | — | -20.5% | -19.4% | +18.2% | unavailable / unavailable |
| BTDRBitdeer Technologies Group | 1.5 bn | — | -196.7% | -171.3% | −5.1% | −51% / +45% |
| RHLDResolute Holdings Management, Inc. | 1.0 bn | 24.1 | — | 4.2% | +9.9% | −26% / unavailable |
| CDChaince Digital Holdings Inc. | 741.4 m | — | -12.3% | -182.5% | +277.9% | −30% / +622% |
| GDOTGreen Dot Corp | 727.1 m | — | -2.8% | -1.1% | +20.7% | +2% / +59% |
| TRONTron Inc. | 664.1 m | 96.8 | 3.8% | 135.6% | +10.0% | −24% / −48% |
| JFU9F Inc. | 536.7 m | 23.2 | 4.7% | 125.2% | +12.2% | −52% / −43% |
| BTBTBit Digital, Inc. | 300.9 m | — | -56.7% | -237.2% | +5.1% | −65% / −68% |
| CANGCango Inc. | 272.7 m | — | -130.8% | -90.4% | +524.3% | −92% / −76% |
| CNTNCanton Strategic Holdings, Inc. | 172.1 m | — | -43.1% | — | unavailable | −17% / −83% |
| USBCUsbc, Inc. | 166.5 m | — | -414.1% | — | −100.0% | −47% / −97% |
| SNFCASecurity National Financial Corporation | 166.1 m | 6.5 | 9.0% | 11.1% | +3.0% | +15% / +37% |
| TONXTon Strategy Company | 159.7 m | — | -75.5% | -532.8% | +1,327.8% | −15% / −93% |
| BMHLBluemount Holdings Limited | 79.0 m | 61,098.2 | 26.2% | 18.8% | unavailable | −8% / unavailable |
| UPXIUpexi, Inc. | 62.9 m | — | -1,356.3% | -984.3% | +58.1% | −73% / −95% |
| SGRXSangrix Inc. | 40.8 m | — | -300.3% | -36,190.3% | −98.6% | −99% / −100% |
| AVXAvax One Technology Ltd. | 34.9 m | — | -189.6% | -1,533.9% | +8,709.3% | −80% / −100% |
1- and 3-year price returns: for WLTH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Wealthfront is a digital financial platform offering automated management of savings, investments and loans for digital-native generations. In its latest reported quarter revenue rose only slightly while platform assets approached 99.0 billion USD 23, and the shift in interest rates is redistributing flows between savings and investment products.
SWOT
Strengths
Weaknesses
- Revenue depends heavily on the level of platform assets, which can fluctuate with markets 1.
- The company recorded a net loss in the latest fiscal year after profitable periods, showing sensitivity to costs 1.
- Many newer products have short operating histories, which makes their future performance hard to assess 1.
Opportunities
Risks
- Dependence on asset levelshigh
Revenue tracks the value of platform assets, which can decline with markets or interest rate changes 1.
- Falling interest rateshigh
Cash flows could slow, and higher-margin revenue could decline if rates keep falling 2.
- Cybersecuritymedium
A security breach could affect client assets and the company's reputation 1.
- Regulationmedium
Legal changes could impose additional compliance costs or product restrictions 1.
- Stock-based compensation costsmedium
After the IPO, equity awards to employees rose sharply and could weigh on net profit 3.
Investment thesis
What would need to be true (bull case)
- If platform assets keep growing and new products add to existing ones, revenue could continue its upward path 12.
- The low-cost model and high client retention could support good margins over the long term 13.
- Expansion of home lending, if automation pace is maintained, could diversify revenue sources 3.
What would break the thesis
What to watch
- Platform asset trends and net deposit flowsQ3 2027
- Adjusted EBITDA margin as product spending rises2027
- Home lending volume after expansion to more statesnext 10-K
- Impact of falling rates on cash management revenueQ3 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Wealthfront builds its offer on automation and low fees shared with clients, so the company earns more when clients accumulate more money on the platform 1. Revenue comes mainly from cash management and investment advisory, while securities-based borrowing and, more recently, home loans complement the range 1. The company is not a bank and provides banking services through third-party partners 1.
The business model depends on referrals, since over 50% of new clients were referred by existing clients, and annual client retention exceeded 95% in fiscal 2025 and 2026 1. This loyal base supports organic growth of assets, which is the main driver of revenue 1.
The company has also entered mortgage lending through Home Lending, with early access launched in November 2025 and general availability in Colorado from April 2026, followed by expansion to Texas and California 13. Revenue from this product was still immaterial in fiscal 2026 1.
Segments
Cash management
The Cash Account is the company's main revenue generator, through fees received from partner banks in its cash sweep program that pay interest to clients 1. This segment represented about 74% of total revenue in fiscal 2026 1.
Market context
The target market is digital-native generations who prefer app-based savings management with transparent fees 1. Platform assets grew from 80.2 billion USD to 94.1 billion USD over the twelve months to January 2026 1.
Interest rate developments determine the direction of flows: lower rates slow cash growth and favour investments, and the company reported high cross-product flows during this transition 12.
Trends
- Falling interest ratesmixed
As rates fall, cash balances grow more slowly while investment balances grow faster, which drove 30% growth in advisory assets in the quarter ended July 2026 2. The effect on revenue is mixed, since cash carries higher fees 2.
- Digital adoption by younger generationstailwind
Clients prefer services without calls or advisers, which supports the company's digital product model 1.
- Personnel and development costsheadwind
Rising product development spending and stock-based compensation could compress margins in coming periods 3.
- Mortgage expansiontailwind
Launching Home Lending in more states could open a new revenue source if loan volume grows 3.
Competitive position
The company competes with other digital investment platforms and with banks offering high-yield savings accounts 1. Its stated advantage is low cost from automation, which lets it offer competitive rates and fees 1.
Competition is intensifying in mortgages and savings, where traditional providers can offer similar terms 1. The company aims for rates below the national average, but this remains an objective, not a guarantee 3.
- Digital savings banks
Offer savings accounts with competitive yields and compete directly with the company's cash product 1.
- Automated investment platforms
Offer indexed portfolios with low fees in the same segments as the advisory services 1.
- Traditional mortgage banks
Compete in mortgage lending, where Home Lending is trying to enter 3.
- Brokers with investment services
Offer comparable investment and securities-based lending services that the company also provides 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Wealthfront (WLTH) Tops $100 Billion in Platform Assets. Can Revenue and Margins Catch Up?Yahoo Finance — News · 16 Sept 2026 · EN
- Wealthfront Stock Surges on Earnings Beat, $100 Billion-Asset MilestoneYahoo Finance — News · 10 Sept 2026 · EN
- Wealthfront (WLTH) Q2 2027 Earnings Call TranscriptYahoo Finance — News · 10 Sept 2026 · EN
The latest news item in our archive is from 16 Sept 2026; the newest SEC filing is from 21 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report21 Oct 2026Other events
- Quarterly report14 Sept 2026
- Current report09 Sept 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report24 Jun 2026Shareholder vote
- Quarterly report12 Jun 2026
- Current report04 Jun 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement11 May 2026
- Annual report24 Apr 2026
- Current report11 Mar 2026Results of operations · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report18 Feb 2026Material agreement · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / Wealthfront Corporation · 24 Apr 2026
- [2] Form 10-Q, quarter ended 2026-07-31 · SEC / Wealthfront Corporation · 14 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Wealthfront Corporation · 09 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.