LendingTree (TREE)
Market Price (1/25/2026): $62.52 | Market Cap: $851.7 MilSector: Financials | Industry: Diversified Financial Services
LendingTree (TREE)
Market Price (1/25/2026): $62.52Market Cap: $851.7 MilSector: FinancialsIndustry: Diversified Financial Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 60x |
| Attractive yieldFCF Yield is 7.1% | 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 -2.4% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. | Key risksTREE key risks include [1] its revenue dependency on relationships with its network of financial partners and [2] a high concentration of business with a few key partners within its cyclical insurance segment. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37% |
| Attractive yieldFCF Yield is 7.1% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 60x |
| 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 -2.4% |
| Key risksTREE key risks include [1] its revenue dependency on relationships with its network of financial partners and [2] a high concentration of business with a few key partners within its cyclical insurance segment. |
Why The Stock Moved
Qualitative Assessment
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LendingTree (TREE) stock has lost about 5% since 9/30/2025 because of the following key factors:
1. Strong Q3 2025 Financial Performance Countered by Leadership Transition. LendingTree announced robust third-quarter 2025 results on October 30, 2025, exceeding analyst expectations for both earnings per share and revenue, with an 18% year-over-year increase in revenue and double-digit growth across its insurance, consumer, and home segments. This positive financial news provided upward momentum for the stock. However, this period also saw the unexpected passing of founder, Chairman, and CEO Doug Lebda, an event that, despite a swift leadership transition and commitment to existing strategies, likely introduced a degree of market uncertainty and tempered sustained upward movement.
2. Mixed Analyst Sentiment and Price Targets. LendingTree received a consensus "Buy" or "Strong Buy" rating from many analysts, with average price targets suggesting a potential upside. This positive outlook from a significant portion of the analyst community provided fundamental support for the stock. However, this positive sentiment was not universal, as some analysts maintained "Hold" ratings or even downgraded the stock, indicating a more cautious view on its short-term prospects, which likely created a balancing effect on the stock's valuation.
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1. Strong Q3 2025 Financial Performance Countered by Leadership Transition. LendingTree announced robust third-quarter 2025 results on October 30, 2025, exceeding analyst expectations for both earnings per share and revenue, with an 18% year-over-year increase in revenue and double-digit growth across its insurance, consumer, and home segments. This positive financial news provided upward momentum for the stock. However, this period also saw the unexpected passing of founder, Chairman, and CEO Doug Lebda, an event that, despite a swift leadership transition and commitment to existing strategies, likely introduced a degree of market uncertainty and tempered sustained upward movement.
2. Mixed Analyst Sentiment and Price Targets. LendingTree received a consensus "Buy" or "Strong Buy" rating from many analysts, with average price targets suggesting a potential upside. This positive outlook from a significant portion of the analyst community provided fundamental support for the stock. However, this positive sentiment was not universal, as some analysts maintained "Hold" ratings or even downgraded the stock, indicating a more cautious view on its short-term prospects, which likely created a balancing effect on the stock's valuation.
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Stock Movement Drivers
Fundamental Drivers
The -3.6% change in TREE stock from 9/30/2025 to 1/24/2026 was primarily driven by a -7.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 1242026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.73 | 62.37 | -3.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,012 | 1,059 | 4.6% |
| P/S Multiple | 0.9 | 0.8 | -7.4% |
| Shares Outstanding (Mil) | 14 | 14 | -0.5% |
| Cumulative Contribution | -3.6% |
Market Drivers
9/30/2025 to 1/24/2026| Return | Correlation | |
|---|---|---|
| TREE | -3.6% | |
| Market (SPY) | 3.5% | 36.2% |
| Sector (XLF) | -1.5% | 33.3% |
Fundamental Drivers
The 68.2% change in TREE stock from 6/30/2025 to 1/24/2026 was primarily driven by a 56.5% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 1242026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.07 | 62.37 | 68.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 972 | 1,059 | 8.9% |
| P/S Multiple | 0.5 | 0.8 | 56.5% |
| Shares Outstanding (Mil) | 13 | 14 | -1.3% |
| Cumulative Contribution | 68.2% |
Market Drivers
6/30/2025 to 1/24/2026| Return | Correlation | |
|---|---|---|
| TREE | 68.2% | |
| Market (SPY) | 11.9% | 30.7% |
| Sector (XLF) | 1.7% | 29.4% |
Fundamental Drivers
The 61.0% change in TREE stock from 12/31/2024 to 1/24/2026 was primarily driven by a 37.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 12312024 | 1242026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.75 | 62.37 | 61.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 773 | 1,059 | 37.0% |
| P/S Multiple | 0.7 | 0.8 | 19.9% |
| Shares Outstanding (Mil) | 13 | 14 | -2.0% |
| Cumulative Contribution | 61.0% |
Market Drivers
12/31/2024 to 1/24/2026| Return | Correlation | |
|---|---|---|
| TREE | 61.0% | |
| Market (SPY) | 18.6% | 32.7% |
| Sector (XLF) | 10.9% | 33.8% |
Fundamental Drivers
The 192.4% change in TREE stock from 12/31/2022 to 1/24/2026 was primarily driven by a 206.9% change in the company's P/S Multiple.| (LTM values as of) | 12312022 | 1242026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.33 | 62.37 | 192.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,041 | 1,059 | 1.7% |
| P/S Multiple | 0.3 | 0.8 | 206.9% |
| Shares Outstanding (Mil) | 13 | 14 | -6.3% |
| Cumulative Contribution | 192.4% |
Market Drivers
12/31/2022 to 1/24/2026| Return | Correlation | |
|---|---|---|
| TREE | 192.4% | |
| Market (SPY) | 86.9% | 36.4% |
| Sector (XLF) | 62.3% | 37.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TREE Return | -55% | -83% | 42% | 28% | 37% | 27% | -75% |
| Peers Return | 34% | -50% | 94% | 27% | 32% | 1% | 117% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 84% |
Monthly Win Rates [3] | |||||||
| TREE Win Rate | 33% | 17% | 42% | 58% | 50% | 100% | |
| Peers Win Rate | 35% | 37% | 55% | 52% | 57% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| TREE Max Drawdown | -61% | -85% | -51% | -14% | -13% | -3% | |
| Peers Max Drawdown | -29% | -67% | -21% | -30% | -29% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SOFI, RKT, UPST, NRDS, EVER.
[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 1/23/2026 (YTD)
How Low Can It Go
| Event | TREE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -97.0% | -25.4% |
| % Gain to Breakeven | 3281.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -60.0% | -33.9% |
| % Gain to Breakeven | 150.3% | 51.3% |
| Time to Breakeven | 109 days | 148 days |
| 2018 Correction | ||
| % Loss | -53.8% | -19.8% |
| % Gain to Breakeven | 116.3% | 24.7% |
| Time to Breakeven | 232 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -84.7% | -56.8% |
| % Gain to Breakeven | 555.2% | 131.3% |
| Time to Breakeven | 141 days | 1,480 days |
Compare to SOFI, RKT, UPST, NRDS, EVER
In The Past
LendingTree's stock fell -97.0% during the 2022 Inflation Shock from a high on 2/12/2021. A -97.0% loss requires a 3281.2% gain to breakeven.
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LendingTree, Inc., through its subsidiary, LT Intermediate Company, LLC, operates online consumer platform in the United States. It operates through three segments: Home, Consumer, and Insurance. The Home segment offers purchase mortgage, refinance mortgage, reverse mortgage, and home equity loans; lines of credit; and real estate brokerage services. The Consumer segment provides credit cards; personal, small business, student, and auto loans; deposit accounts; and other credit products, such as credit repair and debt settlement services. The Insurance segment includes information, tools, and access to insurance quote products, including home and automobile, through which consumers are matched with insurance lead aggregators to obtain insurance offers. LendingTree, Inc. also operates Student Loan Hero, a personal finance website dedicated to helping student loan borrowers manage their student debt; QuoteWizard.com, a marketplace for insurance comparison; ValuePenguin, a personal finance website that offers consumers objective analysis on various financial topics from insurance to credit cards; and Stash, a consumer investing and banking platform that offers a suite of personal investment accounts, traditional and Roth IRAs, custodial investment accounts, and banking services, including checking accounts and debit cards with a Stock-Back rewards program. The company was formerly known as Tree.com, Inc. and changed its name to LendingTree, Inc. in January 2015. LendingTree, Inc. was incorporated in 1996 and is headquartered in Charlotte, North Carolina.
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Analogies for LendingTree:
- Expedia for loans
- Zillow for mortgages and other financial products
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Here are the major products and services offered by LendingTree:- Mortgage Loan Marketplace: Connects consumers with various lenders to compare and apply for home purchase mortgages and mortgage refinancing options.
- Personal Loan Marketplace: Provides a platform for consumers to compare and apply for unsecured personal loans from multiple lenders.
- Auto Loan Marketplace: Allows users to compare offers and apply for new and used car loans from a network of lenders.
- Credit Card Marketplace: Helps consumers find, compare, and apply for a variety of credit cards based on their financial needs.
- Small Business Loan Marketplace: Facilitates small business owners in comparing and applying for different types of business financing.
- Insurance Comparison: Enables users to compare quotes and options for various insurance products, including auto, home, and life insurance.
- Deposit Account Comparison: Offers tools for consumers to compare savings, checking, and certificate of deposit (CD) accounts from different financial institutions.
- Student Loan Refinancing: Connects individuals with lenders offering options to refinance existing student loans.
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LendingTree (symbol: TREE) operates as an online marketplace that connects consumers seeking various financial products (such as mortgages, personal loans, auto loans, and credit cards) with a network of lenders and financial service providers. Therefore, LendingTree's primary customers are the financial institutions and other companies that pay LendingTree for qualified leads and advertising services.
According to LendingTree's public filings, no single customer accounts for 10% or more of its consolidated revenues. This indicates that LendingTree serves a diverse and broad customer base rather than relying on a few major clients. Its customers generally fall into the following categories:
-
Mortgage Lenders: This category includes a wide range of institutions, from large national banks to regional banks, credit unions, and non-bank mortgage originators. They pay LendingTree for leads from consumers interested in purchasing or refinancing homes.
- Examples of companies that operate in this space and could be partners (not necessarily major customers by revenue concentration):
- Rocket Companies (symbol: RKT)
- loanDepot (symbol: LDI)
- Wells Fargo & Company (symbol: WFC)
- JPMorgan Chase & Co. (symbol: JPM)
- Examples of companies that operate in this space and could be partners (not necessarily major customers by revenue concentration):
-
Personal Loan, Auto Loan, and Other Consumer Lenders: This group comprises banks, credit unions, and fintech companies offering various unsecured and secured personal loans, auto loans, student loans, and other forms of consumer credit.
- Examples of companies that operate in this space and could be partners:
- SoFi Technologies (symbol: SOFI)
- Capital One Financial Corporation (symbol: COF)
- Discover Financial Services (symbol: DFS)
- Examples of companies that operate in this space and could be partners:
-
Credit Card Issuers: Major financial institutions that issue credit cards and seek new cardholders through LendingTree's platform.
- Examples of companies that operate in this space and could be partners:
- Capital One Financial Corporation (symbol: COF)
- Discover Financial Services (symbol: DFS)
- American Express Company (symbol: AXP)
- Examples of companies that operate in this space and could be partners:
-
Insurance Providers: Through its QuoteWizard platform, LendingTree connects consumers with various insurance carriers for auto, home, health, and life insurance.
- Examples of companies that operate in this space and could be partners:
- The Progressive Corporation (symbol: PGR)
- The Allstate Corporation (symbol: ALL)
- Travelers Companies (symbol: TRV)
- Examples of companies that operate in this space and could be partners:
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- Alphabet (GOOGL)
- Meta Platforms (META)
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Scott Peyree President & Chief Executive Officer
Scott Peyree is an entrepreneurial leader with over two decades of experience, currently serving as President & Chief Executive Officer of LendingTree. He founded QuoteWizard, an online insurance business, in 2006, which LendingTree acquired in 2018. Prior to QuoteWizard, he managed operations at the online marketing firm WorldClass Strategy for six years. He also co-founded Kahler Mountain Club. Peyree holds a BBA in Finance & Entrepreneurship from Pacific Lutheran University.
Jason Bengel Chief Financial Officer
Jason Bengel leads the Finance, Accounting, and Treasury functions at LendingTree, a role he assumed effective August 9, 2024. He joined LendingTree in 2018 as part of the Financial Planning & Analysis (FP&A) team and has held various financial roles within the company, including Treasury and Corporate Development. Bengel is a Chartered Financial Analyst (CFA) Charterholder. He holds a Bachelor of Science and a Master's degree in Civil Engineering from Penn State University, as well as an MBA in Finance from Indiana University.
Jill Olmstead Chief Human Resources Officer
Jill Olmstead joined LendingTree in October 2018 and serves as the Chief Human Resources Officer, overseeing Human Resources, Real Estate and Facilities, and the LendingTree Foundation. Prior to LendingTree, she was the founding partner and owner of Spivey & Olmstead, a talent and leadership consulting firm. She also spent nearly 25 years at Wells Fargo (formerly Wachovia) in various Human Resources executive roles, including Executive Vice President and Managing Director of Human Resources. Olmstead earned a Master of Arts in Organizational Development and Human Behavior from Fielding University and a Bachelor of Science in Administrative Management from Clemson University.
Arun Sankaran Chief Information Security Officer
Arun Sankaran is the Chief Information Security Officer at LendingTree, a position he has held since October 2018. He is responsible for leading the company's information security team, ensuring the confidentiality and integrity of technology and information systems, and developing security policies. Sankaran brings 20 years of information security experience within the FinTech sector. Before joining LendingTree, he served as Senior Vice President, Global Information Security Operations Executive at Bank of America and spent ten years with Experian PLC. He holds multiple patents related to information security risk management and a Computer Science degree from the University of Washington.
Heather Enlow-Novitsky General Counsel
Heather Enlow-Novitsky is the General Counsel for LendingTree, guiding all legal functions including compliance, privacy, and cybersecurity law. She joined the company in 2020. Her background includes over a decade of advising financial institutions such as Bank of America Merchant Services and Wells Fargo.
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Here are the key risks to LendingTree's business:- Macroeconomic and Interest Rate Volatility, and Regulatory Changes: LendingTree's business is highly susceptible to adverse conditions in the overall economy and fluctuations in interest rates. High interest rates, particularly in the mortgage market, have historically stifled consumer demand for refinancing and new loans, directly impacting LendingTree's Home segment revenue. Furthermore, changes in regulations, such as the Federal Communications Commission's (FCC) "one-to-one consent rule" (which has since been rescinded), have previously disrupted customer acquisition processes in its insurance division, leading to revenue shortfalls and revised guidance. Economic downturns and shifts in consumer lending and insurance markets can significantly harm the company's financial performance.
- Intense Competition and Dependence on Lead Generation: LendingTree operates in a highly competitive digital financial services marketplace. The company faces significant competition from other online lending marketplaces, traditional financial institutions, and emerging FinTech companies, including rivals like SoFi, Prosper, and Credit Karma. Its business model heavily relies on effectively generating and selling leads to its network of lenders and service providers. The challenge of differentiating its offerings and attracting and retaining customers in a cost-effective manner against numerous competitors is a continuous risk that can impact marketing costs and overall profitability.
- Reliance on Network Partners and Segment Concentration Risk: LendingTree's revenue is dependent on its relationships with a network of financial partners (lenders and insurance carriers) to whom it provides leads. Changes in these relationships, including partners reducing their business with LendingTree, could significantly impact revenue. The insurance segment, while a strong performer in recent periods, is identified as highly cyclical and concentrated, with a few major network partners potentially accounting for a substantial portion of consolidated revenue. A decline in demand from these key partners or a reversal in the favorable cycle for insurers could cause LendingTree's insurance revenue to stall or decline, posing a material risk to its overall financial results.
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The increasing likelihood of major technology companies (e.g., Google, Amazon) leveraging their vast user bases and data to integrate comprehensive financial product comparison tools directly into their core platforms. Such a move could disintermediate LendingTree by providing consumers with a single, highly integrated source for comparing loan products and offers, bypassing dedicated marketplace aggregators.
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LendingTree (symbol: TREE) operates in several large addressable markets within the U.S. financial services sector. Below are the estimated market sizes for their main products and services:
- Mortgages: The total outstanding mortgage debt in the U.S. was $12.94 trillion as of the second quarter of 2025. Mortgage originations in the U.S. amounted to $1.69 trillion in 2024.
- Personal Loans: The outstanding personal loan debt in the U.S. was $257 billion as of the second quarter of 2025. Approximately 24.8 million Americans held a personal loan as of the same period.
- Auto Loans: The U.S. auto loan market was valued at $676.20 billion in 2025 and is projected to reach $870.78 billion by 2030. Americans collectively owed $1.655 trillion in auto loan debt as of Q2 2025.
- Student Loans: Americans owed $1.81 trillion in federal and private student loan debt as of the second quarter of 2025. The North American student loans market held a 42.58% share of the global market in 2024, which was valued at $4.47 trillion in 2025.
- Credit Cards: The total credit card balance held by Americans was $1.233 trillion as of the third quarter of 2025. This figure represents a 60% increase in credit card debt since Q1 2021.
- Small Business Loans: The U.S. small business loan market was valued at $245.39 billion in 2023 and is projected to reach $349.64 billion by 2033.
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LendingTree (symbol: TREE) anticipates several key drivers for future revenue growth over the next 2-3 years, stemming from strategic focus on high-performing segments, market recovery, and technological advancements.
Here are 3-5 expected drivers of future revenue growth:
- Continued Strength and Expansion in the Insurance Segment: LendingTree's Insurance segment has been a significant growth engine, demonstrating substantial year-over-year revenue increases (e.g., 188% in Q4 2024 and 20% in Q3 2025). The company expects this momentum to persist, driven by robust consumer demand for auto insurance quotes and increased spending from insurance carriers as they optimize policy rates and marketing to capture market share.
- Growth in the Small Business Lending Segment: The small business loan offering has consistently shown strong revenue growth (e.g., 45% in Q4 2024 and 50% in Q3 2025) and is identified as a high-margin component of LendingTree's network. Strategic investments in a concierge sales team have enhanced customer satisfaction, improved loan close rates, and increased renewal and lender bonus revenue, with management forecasting record revenue for this segment in 2025.
- Recovery and Increased Activity in Home Equity and Potential Mortgage Refinancing: Despite broader macroeconomic headwinds impacting the overall Home segment, home equity loans have been a strong performer, constituting a significant portion of its revenue (e.g., two-thirds in Q3 2024). LendingTree is well-positioned to benefit from a potential mortgage refinance boom if interest rates decline, with home equity serving as a valuable alternative for consumers and lenders in the current environment.
- Improved Performance and Expansion of Personal Loans: LendingTree has strategically prioritized its personal loan products, which have shown consistent sequential and year-over-year revenue growth (e.g., 21% in Q4 2024 and 12% in Q3 2025). This growth is supported by lenders gradually widening their credit criteria for borrowers, leading to improved close rates for various loan types, including debt consolidation.
- Leveraging AI and Technology for Enhanced Consumer Experience and Operational Efficiency: The company is focused on integrating artificial intelligence and other technological advancements to optimize the consumer experience and improve operational efficiency. These initiatives, including AI-driven productivity tools and process optimization, are expected to reduce operating expenses and drive greater output, contributing to future revenue growth and margin expansion.
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Share Repurchases
- In December 2023, LendingTree repurchased approximately $100 million in aggregate principal amount of its 0.50% Convertible Senior Notes due 2025, paying approximately $81.4 million in cash.
- Net cash used in financing activities in 2024 included the repurchase of 2025 Notes for $158.8 million.
- LendingTree has an authorized plan for the repurchase of its common stock, with discussions in the first six months of 2024 and 2023.
Share Issuance
- Shares of the Company's common stock associated with warrants issued in 2020 were excluded from diluted income (loss) per share calculations in the first six months of 2024 and 2023 due to being anti-dilutive.
- Payments were made related to the net-share settlement of stock-based compensation, net of proceeds from the exercise of stock options.
- The company grants stock-based awards, including restricted stock units, performance-based RSUs, stock options, and employee stock purchase rights.
Outbound Investments
- LendingTree's equity investments, primarily in Stash Financial, Inc., were impaired during 2024, resulting in a charge of $58.4 million.
- An impairment charge of $1.4 million on an investment in equity securities was recorded in the second quarter of 2023.
- Equity investments totaled $16.44 million in 2022.
Capital Expenditures
- Capital expenditures primarily related to internally developed software were $11.2 million in 2024 and $12.5 million in 2023.
- For the nine months ended September 30, 2023, capital expenditures were $9.928 million, compared to $8.970 million for the same period in 2022.
- Capital expenditures were $2.452 million for the three months ended March 31, 2023, and $3.465 million for the same period in 2022.
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Peer Comparisons for LendingTree
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.75 |
| Mkt Cap | 2.7 |
| Rev LTM | 1,009 |
| Op Inc LTM | 60 |
| FCF LTM | -162 |
| FCF 3Y Avg | -57 |
| CFO LTM | -147 |
| CFO 3Y Avg | -48 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 39.4% |
| Rev Chg 3Y Avg | 14.1% |
| Rev Chg Q | 29.5% |
| QoQ Delta Rev Chg LTM | 6.8% |
| Op Mgn LTM | 7.3% |
| Op Mgn 3Y Avg | 3.0% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | -4.3% |
| CFO/Rev 3Y Avg | -4.6% |
| FCF/Rev LTM | -8.7% |
| FCF/Rev 3Y Avg | -6.1% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Consumer | 279 | 396 | 330 | 253 | 515 |
| Insurance | 250 | 299 | 326 | 334 | 285 |
| Home | 144 | 289 | 442 | 321 | 278 |
| Other | 0 | 0 | 1 | 2 | 29 |
| Total | 673 | 985 | 1,098 | 910 | 1,107 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Consumer | 139 | 175 | 143 | 107 | 213 |
| Insurance | 104 | 92 | 113 | 131 | 115 |
| Home | 48 | 103 | 153 | 132 | 103 |
| Litigation settlements and contingencies | -0 | 0 | -0 | 1 | 0 |
| Other | -1 | -1 | 0 | -1 | 1 |
| Amortization of intangibles | -8 | -25 | -43 | -53 | -55 |
| Restructuring and severance | -10 | -4 | -0 | -0 | -1 |
| Depreciation | -19 | -20 | -18 | -14 | -11 |
| Goodwill impairment | -39 | ||||
| Cost of revenue | -39 | -58 | -57 | -53 | -46 |
| Product development | -47 | -56 | -53 | -44 | -40 |
| Brand and other marketing expense | -51 | -86 | -86 | -78 | -84 |
| General and administrative expense | -118 | -152 | -153 | -129 | -117 |
| Change in fair value of contingent consideration | 8 | -5 | -28 | ||
| Total | -41 | -33 | 8 | -7 | 51 |
Price Behavior
Price Behavior
| Market Price | $62.37 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 08/12/2008 | |
| Distance from 52W High | -18.5% | |
| 50 Days | 200 Days | |
| DMA Price | $55.48 | $52.29 |
| DMA Trend | up | down |
| Distance from DMA | 12.4% | 19.3% |
| 3M | 1YR | |
| Volatility | 61.5% | 70.8% |
| Downside Capture | 135.45 | 117.22 |
| Upside Capture | 118.09 | 143.27 |
| Correlation (SPY) | 42.0% | 31.9% |
TREE Betas & Captures as of 12/31/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.16 | 2.43 | 1.49 | 1.58 | 1.17 | 1.79 |
| Up Beta | 4.71 | 3.79 | 2.10 | 1.91 | 0.95 | 1.52 |
| Down Beta | 1.06 | 1.52 | 1.51 | 0.96 | 1.18 | 1.25 |
| Up Capture | 152% | 155% | 64% | 234% | 189% | 2722% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 10 | 18 | 27 | 65 | 128 | 377 |
| Down Capture | 283% | 272% | 173% | 138% | 119% | 112% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 12 | 23 | 37 | 61 | 122 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREE | |
|---|---|---|---|---|
| TREE | 46.1% | 70.7% | 0.82 | - |
| Sector ETF (XLF) | 6.4% | 19.0% | 0.20 | 31.9% |
| Equity (SPY) | 14.7% | 19.3% | 0.58 | 31.6% |
| Gold (GLD) | 81.5% | 20.4% | 2.83 | -8.2% |
| Commodities (DBC) | 8.3% | 15.4% | 0.32 | 4.2% |
| Real Estate (VNQ) | 4.9% | 16.6% | 0.11 | 27.2% |
| Bitcoin (BTCUSD) | -13.7% | 39.7% | -0.28 | 21.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREE | |
|---|---|---|---|---|
| TREE | -26.9% | 72.5% | -0.12 | - |
| Sector ETF (XLF) | 13.3% | 18.8% | 0.58 | 39.9% |
| Equity (SPY) | 14.4% | 17.1% | 0.68 | 44.9% |
| Gold (GLD) | 21.9% | 15.7% | 1.13 | 5.0% |
| Commodities (DBC) | 11.9% | 18.7% | 0.52 | 9.1% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 42.5% |
| Bitcoin (BTCUSD) | 19.5% | 57.9% | 0.54 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREE | |
|---|---|---|---|---|
| TREE | -0.5% | 63.9% | 0.27 | - |
| Sector ETF (XLF) | 13.6% | 22.3% | 0.56 | 38.7% |
| Equity (SPY) | 15.5% | 18.0% | 0.74 | 43.0% |
| Gold (GLD) | 16.2% | 14.9% | 0.90 | 2.7% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 11.6% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 37.5% |
| Bitcoin (BTCUSD) | 70.6% | 66.7% | 1.10 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/30/2025 | 6.3% | -3.9% | -6.5% |
| 7/23/2025 | 22.6% | 13.4% | 53.8% |
| 3/5/2025 | 22.5% | 13.8% | 18.4% |
| 10/31/2024 | -20.8% | -15.5% | -28.3% |
| 7/25/2024 | 1.8% | -15.4% | 4.7% |
| 2/27/2024 | -4.8% | 16.2% | 16.7% |
| 10/31/2023 | 19.5% | 41.6% | 58.9% |
| 7/27/2023 | -25.2% | -19.7% | -32.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 6 | 7 |
| # Negative | 11 | 14 | 13 |
| Median Positive | 6.3% | 13.6% | 16.7% |
| Median Negative | -13.6% | -11.8% | -25.1% |
| Max Positive | 22.6% | 41.6% | 58.9% |
| Max Negative | -25.2% | -23.2% | -44.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 07/29/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/01/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rodriguez, Diego A | Direct | Sell | 8262025 | 69.78 | 1,200 | 83,736 | 566,125 | Form | |
| 2 | Enlow-Novitsky, Heather | General Counsel & Corp Sec. | Direct | Sell | 8262025 | 69.14 | 1,000 | 69,141 | 71,077 | Form |
| 3 | Bengel, Jason | Chief Financial Officer | Direct | Sell | 8262025 | 68.86 | 6,469 | 445,455 | 448,761 | Form |
| 4 | Enlow-Novitsky, Heather | General Counsel & Corp Sec. | Direct | Sell | 5292025 | 36.24 | 1,250 | 45,301 | 73,496 | Form |
| 5 | Peyree, Scott | Chief Operating Officer | Direct | Buy | 3172025 | 46.13 | 9,794 | 451,796 | 4,500,708 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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