LendingTree (TREE)
Market Price (3/18/2026): $41.87 | Market Cap: $574.5 MilSector: Financials | Industry: Diversified Financial Services
LendingTree (TREE)
Market Price (3/18/2026): $41.87Market Cap: $574.5 MilSector: FinancialsIndustry: Diversified Financial Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23%, FCF Yield is 11% | Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -26% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% | 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. | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23%, FCF Yield is 11% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 24% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. |
| Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -26% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 63% |
| 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. |
Qualitative Assessment
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LendingTree (TREE) stock has lost about 30% since 11/30/2025 because of the following key factors:
1. Adjusted EPS Miss and Profitability Concerns: Despite surpassing revenue estimates by 11.5% with $319.7 million and exceeding Adjusted EBITDA expectations by 19.5% with $36.67 million in Q4 2025, LendingTree reported a significant adjusted net loss of -$0.39 per share, missing analyst forecasts of $0.87. This adjusted earnings miss, coupled with a high debt-to-equity ratio of 2.93, raised concerns about the company's sustained profitability and financial leverage, contributing to negative investor sentiment.
2. Analyst Downgrades and Price Target Reductions: Several financial analysts lowered their ratings or significantly reduced their price targets for LendingTree during the specified period. For example, Needham & Company LLC cut its price target by 29.41%, from $85.00 to $60.00, on March 3, 2026, citing "multiple compression for lead-generation stocks." Similarly, Keefe, Bruyette & Woods lowered its price target by 15.66% from $83 to $70 on March 4, 2026. These revisions likely contributed to selling pressure and a decreased valuation of the stock.
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1. Adjusted EPS Miss and Profitability Concerns: Despite surpassing revenue estimates by 11.5% with $319.7 million and exceeding Adjusted EBITDA expectations by 19.5% with $36.67 million in Q4 2025, LendingTree reported a significant adjusted net loss of -$0.39 per share, missing analyst forecasts of $0.87. This adjusted earnings miss, coupled with a high debt-to-equity ratio of 2.93, raised concerns about the company's sustained profitability and financial leverage, contributing to negative investor sentiment.
2. Analyst Downgrades and Price Target Reductions: Several financial analysts lowered their ratings or significantly reduced their price targets for LendingTree during the specified period. For example, Needham & Company LLC cut its price target by 29.41%, from $85.00 to $60.00, on March 3, 2026, citing "multiple compression for lead-generation stocks." Similarly, Keefe, Bruyette & Woods lowered its price target by 15.66% from $83 to $70 on March 4, 2026. These revisions likely contributed to selling pressure and a decreased valuation of the stock.
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Stock Movement Drivers
Fundamental Drivers
The -27.5% change in TREE stock from 11/30/2025 to 3/17/2026 was primarily driven by a -93.2% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3172026 | Change |
|---|---|---|---|
| Stock Price ($) | 57.03 | 41.33 | -27.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,059 | 1,117 | 5.5% |
| Net Income Margin (%) | 1.3% | 13.5% | 913.1% |
| P/E Multiple | 54.9 | 3.7 | -93.2% |
| Shares Outstanding (Mil) | 14 | 14 | -0.7% |
| Cumulative Contribution | -27.5% |
Market Drivers
11/30/2025 to 3/17/2026| Return | Correlation | |
|---|---|---|
| TREE | -27.5% | |
| Market (SPY) | -1.8% | 35.7% |
| Sector (XLF) | -7.1% | 47.0% |
Fundamental Drivers
The -39.2% change in TREE stock from 8/31/2025 to 3/17/2026 was primarily driven by a -44.2% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3172026 | Change |
|---|---|---|---|
| Stock Price ($) | 67.95 | 41.33 | -39.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,012 | 1,117 | 10.4% |
| P/S Multiple | 0.9 | 0.5 | -44.2% |
| Shares Outstanding (Mil) | 14 | 14 | -1.3% |
| Cumulative Contribution | -39.2% |
Market Drivers
8/31/2025 to 3/17/2026| Return | Correlation | |
|---|---|---|
| TREE | -39.2% | |
| Market (SPY) | 4.3% | 33.5% |
| Sector (XLF) | -7.9% | 43.1% |
Fundamental Drivers
The 2.3% change in TREE stock from 2/28/2025 to 3/17/2026 was primarily driven by a 44.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3172026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.39 | 41.33 | 2.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 773 | 1,117 | 44.5% |
| P/S Multiple | 0.7 | 0.5 | -27.2% |
| Shares Outstanding (Mil) | 13 | 14 | -2.7% |
| Cumulative Contribution | 2.3% |
Market Drivers
2/28/2025 to 3/17/2026| Return | Correlation | |
|---|---|---|
| TREE | 2.3% | |
| Market (SPY) | 13.9% | 32.9% |
| Sector (XLF) | -4.0% | 35.3% |
Fundamental Drivers
The 25.5% change in TREE stock from 2/28/2023 to 3/17/2026 was primarily driven by a 18.7% change in the company's P/S Multiple.| (LTM values as of) | 2282023 | 3172026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.93 | 41.33 | 25.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 985 | 1,117 | 13.4% |
| P/S Multiple | 0.4 | 0.5 | 18.7% |
| Shares Outstanding (Mil) | 13 | 14 | -6.8% |
| Cumulative Contribution | 25.5% |
Market Drivers
2/28/2023 to 3/17/2026| Return | Correlation | |
|---|---|---|
| TREE | 25.5% | |
| Market (SPY) | 75.6% | 34.8% |
| Sector (XLF) | 45.1% | 38.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TREE Return | -55% | -83% | 42% | 28% | 37% | -24% | -85% |
| Peers Return | 34% | -50% | 94% | 27% | 32% | -32% | 46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -2% | 78% |
Monthly Win Rates [3] | |||||||
| TREE Win Rate | 33% | 17% | 42% | 58% | 50% | 67% | |
| Peers Win Rate | 35% | 37% | 55% | 52% | 57% | 13% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| TREE Max Drawdown | -61% | -85% | -51% | -14% | -13% | -37% | |
| Peers Max Drawdown | -29% | -67% | -21% | -30% | -29% | -36% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -3% | |
[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 3/17/2026 (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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About LendingTree (TREE)
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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The Expedia of financial services.
Like Kayak, but for comparing loans and insurance.
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- Mortgage Services: Facilitates access to various home loans, including purchase, refinance, reverse, and home equity mortgages.
- Consumer and Business Loans: Connects consumers with personal, student, auto, and small business loan providers.
- Credit Products: Offers access to credit cards, as well as credit repair and debt settlement services.
- Insurance Comparison: Provides tools and access to compare and obtain quotes for home and automobile insurance.
- Banking and Investment Platform (Stash): Offers a suite of banking services like checking accounts and investment options including IRAs and custodial accounts.
- Financial Education and Resources: Operates websites like Student Loan Hero and ValuePenguin, providing tools and analysis for personal finance management.
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LendingTree operates an online consumer platform and serves individuals seeking various financial products and services. While its revenue often comes from financial institutions and insurance providers that pay for leads and access to the platform, the company's offerings are primarily directed at and utilized by individual consumers.
Based on the services described, LendingTree primarily serves the following categories of individual customers:
- Borrowers and Loan Seekers: This category includes individuals looking for various types of financing such as purchase mortgages, refinance mortgages, reverse mortgages, home equity loans, personal loans, student loans, auto loans, and small business loans. It also covers those seeking credit cards or services related to credit repair and debt settlement.
- Insurance Shoppers: Individuals seeking to compare and obtain quotes for various insurance products, primarily home and automobile insurance.
- Financial Management and Planning Users: Consumers who utilize LendingTree's platforms for broader financial needs, including managing student debt (Student Loan Hero), obtaining objective analysis on financial topics (ValuePenguin), and using consumer investing and banking services (Stash).
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Scott Peyree, President and Chief Executive Officer
Scott Peyree was appointed as President and CEO of LendingTree in October 2025. Prior to this, he served as the company's President and Chief Operating Officer. Peyree's appointment followed the unexpected passing of founder and CEO Doug Lebda.
Jason Bengel, Chief Financial Officer
Jason Bengel was promoted to Chief Financial Officer of LendingTree, effective August 9, 2024. He is a Chartered Financial Analyst and has been an integral member of LendingTree's management team. Bengel's expertise lies in financial planning and analysis, operational efficiency, and a deep understanding of LendingTree's business lines.
Jill Olmstead, Chief Human Resources Officer
Jill Olmstead serves as the Chief Human Resources Officer at LendingTree.
Scott Totman, Chief Technology Officer
Scott Totman holds the position of Chief Technology Officer at LendingTree.
Sarah Guidry, Senior Vice President of Analytics and Corporate Strategy
Effective immediately as of June 2024, Sarah Guidry expanded her role to Senior Vice President of Analytics and Corporate Strategy. She has been leading LendingTree's Analytics function since 2021, and her expanded responsibilities include the company's strategy work, including the new AI lab, emphasizing data-driven decision-making.
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Here are the key risks to LendingTree's business:
1. Macroeconomic Conditions and Interest Rate Sensitivity
LendingTree's revenue is significantly impacted by macroeconomic factors, particularly interest rate fluctuations. High interest rates depress consumer demand for loans, especially mortgages and refinance products, which historically constitute a substantial portion of its business. Economic downturns also generally reduce consumer borrowing activity across its segments.
2. Intense Competition and Customer Acquisition Costs
The online loan marketplace is highly competitive, with a multitude of direct rivals, traditional financial institutions, and emerging fintech companies. This intense competition can lead to higher customer acquisition costs (CAC) for LendingTree, impacting its variable marketing margin and overall profitability. Competitors may offer more innovative products, better user experiences, or more attractive terms, potentially eroding LendingTree's market share.
3. Regulatory Changes, Data Privacy, and Cybersecurity Risks
LendingTree operates in a heavily regulated financial services industry, and changes in consumer lending and data privacy regulations can pose significant operational and revenue risks. Specific past examples include the impact of the FCC's "one-to-one consent rule" on customer acquisition. Furthermore, cybersecurity threats and data breaches, such as the one affecting its QuoteWizard subsidiary, can lead to significant costs, liabilities, and reputational damage, potentially resulting in litigation.
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The rise of integrated financial platforms, often referred to as "fintech super-apps," presents a clear emerging threat. These platforms aim to become a single, comprehensive hub for consumers' financial needs, encompassing banking, investing, and offering direct comparison and application for various financial products such as loans, mortgages, credit cards, and insurance. As these competing platforms become more sophisticated, trusted, and widely adopted, consumers may increasingly prefer to manage all their financial interactions within a single ecosystem, thereby diminishing the reliance on specialized, standalone marketplaces like LendingTree for comparing individual financial products.
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LendingTree (TREE) operates in several significant addressable markets within the United States for its diverse range of financial products and services.
For its Home Segment, which includes mortgages and home equity offerings, the addressable market sizes are substantial:
- The total single-family mortgage origination volume in the U.S. is expected to reach $2.0 trillion in 2025, with purchase originations forecast at $1.46 trillion in 2026 and refinance originations at $737 billion in 2026.
- The United States home equity lending market, encompassing both home equity loans and lines of credit (HELOCs), was valued at approximately $179.21 billion in 2025 and is estimated to grow to $186.59 billion in 2026, projected to reach $228.25 billion by 2031.
In the Consumer Segment, LendingTree addresses several large markets:
- The U.S. credit card market size was approximately $190 billion in 2024 and is expected to grow to $388.4 billion by 2032.
- The U.S. personal loan market, based on total outstanding debt, amounted to $276 billion as of the fourth quarter of 2025.
- 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.
- The total U.S. student loan debt (federal and private) reached $1.84 trillion as of the fourth quarter of 2025.
- Americans held $1.655 trillion in auto loan debt as of the third quarter of 2025.
- The U.S. digital banking market, which includes online and mobile banking services and deposit accounts offered by platforms like Stash, was evaluated at $2.64 trillion in 2024 and is predicted to be worth around $4.41 trillion by 2034.
Within the Insurance Segment, LendingTree operates in these markets:
- The U.S. homeowners insurance market size is projected to be $184.59 billion in 2026 and is forecast to reach $236.90 billion by 2031.
- The United States motor insurance market (automobile insurance) is projected to be $532.45 billion in 2026 and is forecast to reach $826.30 billion by 2031.
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LendingTree (TREE) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:- Sustained Growth in the Insurance Segment: The company anticipates continued strong performance and a "super cycle" within its Insurance segment. This segment has consistently delivered double-digit revenue and variable marketing margin (VMM) growth, fueled by increasing demand from insurance carrier partners and a focus on capturing market share.
- Expansion of Small Business Lending: LendingTree is experiencing significant growth in its small business loan offerings within the Consumer segment. The company is actively investing in and expanding its concierge sales team, which provides high-touch service to business owners, leading to improved conversion rates and higher-margin revenue streams.
- Growth in Home Equity Products: Despite a challenging broader mortgage market, demand for home equity loans remains strong. This product line is identified as a key growth driver within the Home segment, with consistent demand from both consumers and LendingTree's network of lenders.
- Improvement in Consumer Lending Conditions: LendingTree expects that improved credit conditions and a more stable lending environment, anticipated by late 2024 or early 2025, will lead to lenders widening their credit criteria. This is projected to accelerate growth in personal loans, credit cards, and other consumer credit products.
- Leveraging AI for Operational Efficiency and Conversion: The company is actively integrating artificial intelligence (AI) into its operations, including call center enhancements and marketing strategies. These AI initiatives have already contributed to significant quarterly revenue growth and improved overall conversion rates across LendingTree's network, a trend expected to continue.
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Share Repurchases
- LendingTree had authorized stock repurchase programs from February 2018 and February 2019 for $100 million and $150 million, respectively.
- As of September 30, 2025, $96.7 million remained available under these authorization programs.
- The company did not repurchase any shares in the first quarter of 2025, and its current financial position, marked by constrained liquidity and a high debt-to-equity ratio, raises concerns about the sustainability of future buybacks.
Share Issuance
- The number of common shares issued by LendingTree increased from 16,746,556 as of December 31, 2024, to 17,124,837 as of December 31, 2025.
- In 2025, 421 shares of the company's common stock were issued to Mr. Lebda, the CEO, as a portion of his 2024 base salary.
Outbound Investments
- No significant outbound investments or acquisitions of other companies by LendingTree within the last 3-5 years are explicitly detailed in the provided information. The company's current focus is on deliberate debt reduction.
Capital Expenditures
- LendingTree's capital expenditures were $12.423 million in 2025, $11.220 million in 2024, and $12.528 million in 2023.
- The company's capital allocation includes investments in technology, product, and sales teams for business development, as well as significant upgrades to marketing technology platforms, often utilizing AI.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | NDAQ | Nasdaq | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | JEF | Jefferies Financial | 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% |
| 02272026 | PAYO | Payoneer Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02272026 | FOUR | Shift4 Payments | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02202026 | COIN | Coinbase Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.6% | 2.6% | -6.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.65 |
| Mkt Cap | 1.7 |
| Rev LTM | 1,071 |
| Op Inc LTM | 67 |
| FCF LTM | -53 |
| FCF 3Y Avg | 5 |
| CFO LTM | -37 |
| CFO 3Y Avg | 14 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 32.6% |
| Rev Chg 3Y Avg | 15.8% |
| Rev Chg Q | 31.6% |
| QoQ Delta Rev Chg LTM | 7.1% |
| Op Mgn LTM | 7.8% |
| Op Mgn 3Y Avg | 3.3% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | -3.9% |
| CFO/Rev 3Y Avg | 2.8% |
| FCF/Rev LTM | -5.4% |
| FCF/Rev 3Y Avg | 1.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.7 |
| P/S | 1.8 |
| P/EBIT | 8.6 |
| P/E | 10.5 |
| P/CFO | -0.0 |
| Total Yield | 4.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.0% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.7% |
| 3M Rtn | -31.0% |
| 6M Rtn | -35.2% |
| 12M Rtn | -12.0% |
| 3Y Rtn | 69.6% |
| 1M Excs Rtn | -0.9% |
| 3M Excs Rtn | -31.4% |
| 6M Excs Rtn | -37.3% |
| 12M Excs Rtn | -27.3% |
| 3Y Excs Rtn | -10.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| 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 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| 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 | $41.33 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 08/12/2008 | |
| Distance from 52W High | -46.0% | |
| 50 Days | 200 Days | |
| DMA Price | $48.91 | $52.60 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -15.5% | -21.4% |
| 3M | 1YR | |
| Volatility | 91.1% | 71.2% |
| Downside Capture | 257.81 | 189.47 |
| Upside Capture | 146.68 | 133.85 |
| Correlation (SPY) | 34.8% | 35.1% |
TREE Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 5.12 | 4.13 | 3.79 | 2.38 | 1.36 | 1.79 |
| Up Beta | 6.47 | 7.87 | 7.22 | 4.34 | 1.03 | 1.52 |
| Down Beta | 6.15 | 4.87 | 4.29 | 2.73 | 1.39 | 1.30 |
| Up Capture | 190% | 117% | 129% | 61% | 201% | 1680% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 9 | 18 | 28 | 55 | 129 | 373 |
| Down Capture | 602% | 367% | 329% | 214% | 139% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 12 | 23 | 33 | 69 | 121 | 375 |
[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 | -15.1% | 71.3% | 0.06 | - |
| Sector ETF (XLF) | 3.2% | 19.1% | 0.04 | 38.9% |
| Equity (SPY) | 20.3% | 18.8% | 0.85 | 35.1% |
| Gold (GLD) | 68.2% | 26.2% | 1.97 | -10.7% |
| Commodities (DBC) | 19.1% | 17.3% | 0.89 | 8.8% |
| Real Estate (VNQ) | 7.6% | 16.1% | 0.27 | 30.2% |
| Bitcoin (BTCUSD) | -10.5% | 44.3% | -0.12 | 30.6% |
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 | -29.2% | 73.8% | -0.15 | - |
| Sector ETF (XLF) | 9.3% | 18.7% | 0.38 | 40.9% |
| Equity (SPY) | 13.0% | 17.0% | 0.60 | 44.0% |
| Gold (GLD) | 23.4% | 17.2% | 1.11 | 1.5% |
| Commodities (DBC) | 11.0% | 19.0% | 0.47 | 8.9% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 41.6% |
| Bitcoin (BTCUSD) | 6.1% | 56.7% | 0.33 | 23.6% |
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 | -6.9% | 64.2% | 0.17 | - |
| Sector ETF (XLF) | 12.9% | 22.1% | 0.53 | 38.8% |
| Equity (SPY) | 14.8% | 17.9% | 0.71 | 42.7% |
| Gold (GLD) | 14.4% | 15.6% | 0.76 | 1.5% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 11.5% |
| Real Estate (VNQ) | 5.8% | 20.7% | 0.24 | 36.8% |
| Bitcoin (BTCUSD) | 68.3% | 66.8% | 1.07 | 14.9% |
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 |
| 3/2/2026 | 23.9% | 13.0% | |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 7 | 7 |
| # Negative | 10 | 13 | 12 |
| Median Positive | 6.9% | 13.4% | 16.7% |
| Median Negative | -9.2% | -11.8% | -25.0% |
| Max Positive | 23.9% | 41.6% | 58.9% |
| Max Negative | -25.2% | -23.2% | -36.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/09/2026 | 10-K |
| 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 |
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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