Linkhome (LHAI)
Market Price (3/30/2026): $1.11 | Market Cap: $18.0 MilSector: Real Estate | Industry: Real Estate Services
Linkhome (LHAI)
Market Price (3/30/2026): $1.11Market Cap: $18.0 MilSector: Real EstateIndustry: Real Estate Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36% | Weak multi-year price returns2Y Excs Rtn is -102%, 3Y Excs Rtn is -142% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 139x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x, P/EPrice/Earnings or Price/(Net Income) is 243x |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 176% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -89% | High stock price volatilityVol 12M is 181% | |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech. Themes include Real Estate Data Analytics, and Digital Real Estate Platforms. | Key risksLHAI key risks include [1] the significant operational and execution challenges of its complex, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 176% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -89% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech. Themes include Real Estate Data Analytics, and Digital Real Estate Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -102%, 3Y Excs Rtn is -142% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 139x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x, P/EPrice/Earnings or Price/(Net Income) is 243x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% |
| High stock price volatilityVol 12M is 181% |
| Key risksLHAI key risks include [1] the significant operational and execution challenges of its complex, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Significant Deterioration in Financial Performance.
Linkhome experienced a notable decline in its financial results, with Q3 2025 earnings reported on November 13, 2025, showing a loss of -$305.0, marking a 102.1% decrease from the prior quarter. The net income for the latest reported quarter also stood at -$305.00. This lack of profitability likely contributed significantly to the stock's sharp decline from its 52-week high of $22.33 to $1.28 by March 2, 2026.
2. Negative Market Reaction to Lock-Up Extension.
On January 21, 2026, Linkhome announced that principal shareholders agreed to extend their lock-up restrictions until July 24, 2026, affecting approximately 8.07 million shares. Despite the company framing this as a sign of continued confidence, the market reacted negatively, with the stock declining 7.66% on the day of the announcement. This event likely fueled investor apprehension regarding potential future share dilution or a lack of immediate catalysts from insiders.
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Stock Movement Drivers
Fundamental Drivers
The -91.0% change in LHAI stock from 11/30/2025 to 3/29/2026 was primarily driven by a -87.0% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.51 | 1.12 | -91.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 21 | 15.9% |
| Net Income Margin (%) | 2.7% | 0.4% | -87.0% |
| P/E Multiple | 396.7 | 242.9 | -38.8% |
| Shares Outstanding (Mil) | 16 | 16 | -2.8% |
| Cumulative Contribution | -91.0% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| LHAI | -91.0% | |
| Market (SPY) | -5.3% | 16.5% |
| Sector (XLRE) | -2.9% | 6.7% |
Fundamental Drivers
The -87.5% change in LHAI stock from 8/31/2025 to 3/29/2026 was primarily driven by a -93.3% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.94 | 1.12 | -87.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15 | 21 | 42.2% |
| Net Income Margin (%) | 5.3% | 0.4% | -93.3% |
| P/E Multiple | 185.5 | 242.9 | 31.0% |
| Shares Outstanding (Mil) | 16 | 16 | -0.1% |
| Cumulative Contribution | -87.5% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| LHAI | -87.5% | |
| Market (SPY) | 0.6% | 14.7% |
| Sector (XLRE) | -3.7% | 5.5% |
Fundamental Drivers
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Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| LHAI | ||
| Market (SPY) | 9.8% | 14.7% |
| Sector (XLRE) | -4.1% | -2.8% |
Fundamental Drivers
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Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| LHAI | ||
| Market (SPY) | 69.4% | 14.7% |
| Sector (XLRE) | 16.1% | -2.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LHAI Return | - | - | - | - | 36% | -85% | -80% |
| Peers Return | -47% | -72% | 111% | -6% | 55% | -33% | -69% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| LHAI Win Rate | - | - | - | - | 83% | 0% | |
| Peers Win Rate | 36% | 32% | 52% | 38% | 37% | 13% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| LHAI Max Drawdown | - | - | - | - | -13% | -85% | |
| Peers Max Drawdown | -52% | -76% | -7% | -45% | -36% | -36% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OPEN, Z, ZG, OPAD, COMP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
LHAI has limited trading history. Below is the Real Estate sector ETF (XLRE) in its place.
| Event | XLRE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -37.9% | -25.4% |
| % Gain to Breakeven | 61.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -39.3% | -33.9% |
| % Gain to Breakeven | 64.7% | 51.3% |
| Time to Breakeven | 393 days | 148 days |
| 2018 Correction | ||
| % Loss | -13.5% | -19.8% |
| % Gain to Breakeven | 15.7% | 24.7% |
| Time to Breakeven | 43 days | 120 days |
Compare to OPEN, Z, ZG, OPAD, COMP
In The Past
Real Estate Select Sector SPDR Fund (The)'s stock fell -37.9% during the 2022 Inflation Shock from a high on 12/31/2021. A -37.9% loss requires a 61.0% gain to breakeven.
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About Linkhome (LHAI)
AI Analysis | Feedback
Here are 1-2 brief analogies to describe Linkhome (LHAI):
Imagine a Zillow or Redfin, but where artificial intelligence (HomeGPT) is the primary engine for property search, recommendations, and transaction streamlining.
It's like an AI-powered real estate brokerage that also functions as a temporary "cash buyer" for its clients, helping them win competitive bids on homes.
AI Analysis | Feedback
- AI Real Estate Platform (HomeGPT): An artificial intelligence-driven platform that aggregates property listings, provides transaction information, and offers interactive home-buying advice.
- Real Estate Brokerage Services: Services provided by Linkhome's team of agents to facilitate the buying and selling of homes.
- Cash Offer Program: A financial innovation service where Linkhome purchases a property for cash, assumes ownership, and then sells it to the customer after they secure financing.
- Property Rental Management: Services for managing rental properties.
- Home Renovation Services: Services related to home improvement and renovation.
AI Analysis | Feedback
Linkhome (LHAI) primarily sells its services and solutions to individual consumers. The company's mission and vision are centered around empowering individuals to buy and sell homes efficiently and affordably. Based on the provided description, the major customer categories Linkhome serves are:
- Homebuyers: Individuals seeking to purchase residential properties. These customers utilize Linkhome's AI-driven platform (HomeGPT) for home-buying advice, property search, and the "Cash Offer" product to enhance their competitiveness in the housing market.
- Home Sellers: Individuals looking to sell their residential properties. These customers leverage Linkhome's real estate brokerage services and platform to list and facilitate the sale of their homes.
- Property Owners/Managers: Individuals who own residential properties and utilize Linkhome for other value-added services, such as property rental management and home renovation.
AI Analysis | Feedback
nullAI Analysis | Feedback
Zhen "Bill" Qin, Chief Executive Officer and Chairman of the Board
Mr. Qin has served as Linkhome's Chief Executive Officer and Chairman of the Board since October 2023, and as CEO of its wholly owned subsidiary, Linkhome Realty Group, since July 2021. He is also a founder of Linkhome. Before joining Linkhome Realty Group, he was an independent realtor for Harvest Realty Development Inc. from March 2020 to July 2021. Additionally, he served as Chief Executive Officer of USA Bestway Group Inc. from April 2016 to March 2020. Mr. Qin holds a master's degree from the University of California, Irvine.
Na Li, Chief Financial Officer and Director
Ms. Li has served as Linkhome's Chief Financial Officer and a member of its Board since October 2023, and as CFO of its wholly owned subsidiary, Linkhome Realty Group, since July 2021. She is a founder of Linkhome and the spouse of Zhen Qin. Prior to Linkhome Realty Group, Ms. Li was an independent realtor for Harvest Realty Development Inc. from March 2020 to July 2021. She also held the position of Chief Financial Officer at USA Bestway Group Inc. from April 2016 to March 2020.
Edward Frost, Chief Operating Officer
Mr. Frost serves as the Chief Operating Officer of Linkhome Holdings Inc.
Yuan Gao, Chief Technology Officer
Mr. Gao is the Chief Technology Officer of Linkhome Holdings Inc. He holds a master's degree from UC Irvine.
Minghui Sun, Director
Ms. Sun currently serves as a Director for Linkhome Holdings Inc. She has been the Chief Executive Officer of Qin Express since 2021, and before that, she served as Vice President of Meibao International Group. Ms. Sun earned her bachelor's degree from Zhengzhou Huaxin University.
AI Analysis | Feedback
1. Extreme Reliance on Related-Party Cash Offer Transactions and Limited Client Base for a Key Product: Linkhome's Cash Offer product, a significant part of its financial innovation strategy, generated 77% of its 2023 annual revenue from a single transaction with a related party, Haiyan Ma, who is a beneficial owner of 12.41% of its voting securities. Furthermore, as of the date of the offering, the company has only entered Cash Offer transactions with a few select clients. This indicates a substantial dependency on a very narrow customer base and a related party for a dominant portion of a key service's revenue, posing a significant risk to revenue stability and business scalability.
2. Limited Geographic Market Presence and Nascent Market Share: Currently, Linkhome's platform is only active in California. While the company plans to launch its platform in dozens of cities, its current operations are confined to a single state, limiting its overall market reach and potential for immediate growth. The relatively modest transaction volumes for its real estate agency services in 2023 ($15,438,435) compared to 2022 ($28,243,875), and the fluctuation in transaction volumes between Q1 2023 ($2,183,832) and Q1 2024 ($12,090,829), suggest a nascent market share that requires significant expansion and penetration efforts.
3. Dependence on Artificial Intelligence Development and Adoption: Linkhome's core business model is "artificial intelligence-driven" and hinges on the success and user adoption of its proprietary AI model, HomeGPT. The company's mission is to redefine the real estate experience through AI, and its future plans involve vigorously developing HomeGPT. The effectiveness, reliability, and continued innovation of this AI, along with user trust and adoption, are critical to the company's competitive advantage and long-term success. Any failure in AI development or if competitors develop superior AI solutions, could severely impact Linkhome's business.
AI Analysis | Feedback
nullAI Analysis | Feedback
Linkhome (LHAI) operates within the California real estate market, offering a range of services including real estate brokerage, a Cash Offer program, property rental management, and home renovation. The addressable market sizes for these primary services in California are as follows: * **Real Estate Brokerage Services:** The addressable market for residential real estate transactions in California is approximately $289.05 billion. This is based on 370,048 residential properties sold in California over the past year, with a median home value of $781,000. The company's Cash Offer program is a service within this broader real estate transaction market. * **Property Rental Management:** The market size for the Property Management industry in California is projected to be $21.1 billion in 2026. The residential segment dominated the North American property management market in 2025, holding the largest revenue share. * **Home Renovation:** The Remodeling industry in California is estimated to have a market size of $19.8 billion in 2026. California accounted for a 13.8% share of the U.S. residential remodeling market in 2023, which was estimated at $527.36 billion.AI Analysis | Feedback
Expected Drivers of Future Revenue Growth for Linkhome (LHAI)
Over the next 2-3 years, Linkhome (LHAI) anticipates revenue growth driven by several strategic initiatives:
- Geographic Market Expansion: Linkhome plans to significantly expand its operational footprint by launching its AI real estate platform in dozens of new cities. Currently active only in California, this expansion represents a substantial opportunity to increase its user base and transaction volume.
- Expansion of Service Offerings: The company intends to broaden its suite of services to become a comprehensive one-stop shop for real estate. Future offerings are planned to include mortgage services, home insurance, and escrow services, complementing its existing brokerage, Cash Offer, property rental management, and home renovation services.
- Scaling of the Cash Offer Product: Following the completion of its offering, Linkhome expects to have sufficient capital to expand its recently launched Cash Offer service. This product, which facilitates full cash payments for properties, is designed to enhance the success rate of home purchases for customers in competitive markets and is a key area for growth.
- Increased Market Share through AI Development: Linkhome aims to vigorously develop its proprietary AI real estate model, HomeGPT, to increase its market share. The continuous enhancement of its AI and fintech integration is expected to attract more users, improve transaction efficiency, and further establish the company as a preferred provider for real estate solutions.
AI Analysis | Feedback
Share Issuance
- Linkhome Holdings Inc. completed an initial public offering (IPO) in July 2025, issuing 1,500,000 shares at $4 per share.
- Underwriters were granted an option to purchase an additional 225,000 shares.
- The total number of shares outstanding increased by 5.39% in one year, reaching 16.23 million shares.
Inbound Investments
- Through its IPO in July 2025, Linkhome raised $6 million in gross proceeds.
- The proceeds from the offering are allocated towards expanding marketing initiatives, advancing the HomeGPT AI platform, supporting the rollout of the Cash Offer product, and investing in research and development and general corporate purposes.
Capital Expenditures
- In the last 12 months, Linkhome's capital expenditures totaled approximately -$303,650.
- The company projects approximately $2 million in capital investment and expenditures over the next 12 months.
- Future capital expenditures are planned for vigorously developing the HomeGPT artificial intelligence platform, expanding marketing, and supporting the geographic rollout of its Cash Offer product.
Trade Ideas
Select ideas related to LHAI.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02272026 | KRC | Kilroy Realty | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02202026 | AAT | American Assets Trust | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -0.2% | -0.2% | -1.5% |
| 12122025 | LINE | Lineage | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 11.7% | 11.7% | -7.3% |
| 11302025 | OHI | Omega Healthcare Investors | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 6.7% | 6.7% | -6.0% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -37.3% | -37.3% | -39.8% |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.94 |
| Mkt Cap | 4.1 |
| Rev LTM | 2,583 |
| Op Inc LTM | -32 |
| FCF LTM | 101 |
| FCF 3Y Avg | 148 |
| CFO LTM | 292 |
| CFO 3Y Avg | 250 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.5% |
| Rev Chg 3Y Avg | 6.7% |
| Rev Chg Q | 18.1% |
| QoQ Delta Rev Chg LTM | 4.0% |
| Op Mgn LTM | -1.2% |
| Op Mgn 3Y Avg | -6.1% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 13.0% |
| CFO/Rev 3Y Avg | 13.4% |
| FCF/Rev LTM | 3.9% |
| FCF/Rev 3Y Avg | 8.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 0.9 |
| P/EBIT | 69.0 |
| P/E | 121.2 |
| P/CFO | 22.6 |
| Total Yield | -0.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.6% |
| D/E | 0.1 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -10.6% |
| 3M Rtn | -42.0% |
| 6M Rtn | -48.4% |
| 12M Rtn | -40.5% |
| 3Y Rtn | -4.9% |
| 1M Excs Rtn | -6.4% |
| 3M Excs Rtn | -33.3% |
| 6M Excs Rtn | -44.0% |
| 12M Excs Rtn | -54.4% |
| 3Y Excs Rtn | -64.6% |
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
External Quote Links
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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