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Green Dot (GDOT) IPO sch for July 22. Competitor NetSpend filed July 15

|Includes:AXP, CASS, DFS, FIS, Green Dot Corporation (GDOT), HPY, MA, ONE, SNV, TSS, V

See compare/constrast valuations.  Compare qtrs between GDOT & NetSpend

GDOT IPOreport includes financials & valuations


Green Dot
. Priced at 38x adjusted earnings, annualizing the March quarter, see financials below
. Priced at 26x unadjusted earnings, annualizing the March quarter
. Notice that GDOT’s P/E at price range mid-point is considerable higher than Visa and Higher One, based on adjusted earnings, see financials at end of report

. Competitor NetSpend filed for an up to $200mm IPO Thursday, July 15, see sales/profits comparison with GDOT in IPOreport. 
. NetSpend cards can be reloaded at 114,000 retail locations vs 50,000 for GDOT.  NetSpend said it had about 2.1 million cards active as of March 31, while Green Dot said it had 3.4 million active cards in its portfolio.

GDOT IPOreport includes financials & valuations






Disclosure: none

Stocks: GDOT, TSS, SNV, V, MA, ONE, DFS, FIS, CASS, HPY, AXP