LendingTree (TREE)
Market Price (11/4/2026): $29.49 | Market Cap: $414.0 MilSector: Financials | Industry: Insurance Brokers
LendingTree (TREE)
Market Price (11/4/2026): $29.49Market Cap: $414.0 MilSector: FinancialsIndustry: Insurance Brokers
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 45%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 41%, FCF Yield is 18% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. | Weak multi-year price returns2Y Excs Rtn is -75% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 81% 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. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 45%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 41%, FCF Yield is 18% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 25% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. |
| Weak multi-year price returns2Y Excs Rtn is -75% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 81% |
| 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 10% since 7/31/2026 because of the following key factors:
1. Significant GAAP Net Loss in fiscal Q3 2026 Driven by Goodwill Impairment. LendingTree reported a GAAP net loss of $(72.4) million, or $(5.15) per diluted share, for fiscal Q3 2026, significantly missing analyst estimates of $0.81 EPS. This loss was primarily due to a non-cash goodwill impairment charge of $98.8 million, predominantly affecting the home and consumer segments, which management attributed to the company's lower market valuation rather than a change in business fundamentals.
2. Disappointing Fiscal Q4 2026 Revenue Guidance. The company's revenue guidance for fiscal Q4 2026 was set at $320 million at the midpoint, falling approximately 5.8% below analysts' consensus estimates of $339.6 million. This forward-looking outlook indicated weaker anticipated performance, which likely contributed to negative investor sentiment.
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LendingTree (TREE) stock has lost about 10% since 7/31/2026 because of the following key factors:
1. Significant GAAP Net Loss in fiscal Q3 2026 Driven by Goodwill Impairment. LendingTree reported a GAAP net loss of $(72.4) million, or $(5.15) per diluted share, for fiscal Q3 2026, significantly missing analyst estimates of $0.81 EPS. This loss was primarily due to a non-cash goodwill impairment charge of $98.8 million, predominantly affecting the home and consumer segments, which management attributed to the company's lower market valuation rather than a change in business fundamentals.
2. Disappointing Fiscal Q4 2026 Revenue Guidance. The company's revenue guidance for fiscal Q4 2026 was set at $320 million at the midpoint, falling approximately 5.8% below analysts' consensus estimates of $339.6 million. This forward-looking outlook indicated weaker anticipated performance, which likely contributed to negative investor sentiment.
3. Persistent Headwinds in the Home Segment. LendingTree's home segment continued to face challenges due to elevated mortgage rates and a subdued housing market. While home equity and Home Equity Line of Credit (HELOC) products showed some growth, the overall home segment remained under pressure, limiting its contribution to the company's Variable Marketing Margin (VMM), which stood at 14% of VMM in fiscal 2025.
4. Analyst Downgrades and Reduced Price Targets. During the specified period, some investment analysts downgraded LendingTree's stock or lowered their price targets. For instance, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating on October 24, 2026. Additionally, Needham & Company LLC reduced its price target from $60.00 to $45.00 on July 30, 2026. These revisions reflected a more cautious outlook on the company's prospects.
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Stock Movement Drivers
Fundamental Drivers
The -9.4% change in TREE stock from 7/31/2026 to 11/3/2026 was primarily driven by a -9.4% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.86 | 28.87 | -9.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,268 | 1,268 | 0.0% |
| Net Income Margin (%) | 14.3% | 14.3% | 0.0% |
| P/E Multiple | 2.4 | 2.2 | -9.4% |
| Shares Outstanding (Mil) | 14 | 14 | 0.0% |
| Cumulative Contribution | -9.4% |
Market Drivers
7/31/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| TREE | -9.4% | |
| Market (SPY) | 1.0% | 31.0% |
| Sector (XLF) | 0.4% | 45.1% |
Fundamental Drivers
The -41.8% change in TREE stock from 4/30/2026 to 11/3/2026 was primarily driven by a -50.7% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.59 | 28.87 | -41.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,117 | 1,268 | 13.5% |
| Net Income Margin (%) | 13.5% | 14.3% | 5.8% |
| P/E Multiple | 4.5 | 2.2 | -50.7% |
| Shares Outstanding (Mil) | 14 | 14 | -1.7% |
| Cumulative Contribution | -41.8% |
Market Drivers
4/30/2026 to 11/3/2026| Return | Correlation | |
|---|---|---|
| TREE | -41.8% | |
| Market (SPY) | 5.2% | 13.9% |
| Sector (XLF) | 10.1% | 27.5% |
Fundamental Drivers
The -54.9% change in TREE stock from 10/31/2025 to 11/3/2026 was primarily driven by a -96.4% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.00 | 28.87 | -54.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,059 | 1,268 | 19.7% |
| Net Income Margin (%) | 1.3% | 14.3% | 971.6% |
| P/E Multiple | 61.6 | 2.2 | -96.4% |
| Shares Outstanding (Mil) | 14 | 14 | -2.4% |
| Cumulative Contribution | -54.9% |
Market Drivers
10/31/2025 to 11/3/2026| Return | Correlation | |
|---|---|---|
| TREE | -54.9% | |
| Market (SPY) | 11.5% | 27.1% |
| Sector (XLF) | 10.5% | 37.5% |
Fundamental Drivers
The 118.2% change in TREE stock from 10/31/2023 to 11/3/2026 was primarily driven by a 54.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11032026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.23 | 28.87 | 118.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 823 | 1,268 | 54.1% |
| P/S Multiple | 0.2 | 0.3 | 53.1% |
| Shares Outstanding (Mil) | 13 | 14 | -7.5% |
| Cumulative Contribution | 118.2% |
Market Drivers
10/31/2023 to 11/3/2026| Return | Correlation | |
|---|---|---|
| TREE | 118.2% | |
| Market (SPY) | 86.6% | 30.1% |
| Sector (XLF) | 84.5% | 34.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TREE Return | -55% | -83% | 42% | 28% | 37% | -46% | -89% |
| Peers Return | 34% | -50% | 94% | 27% | 32% | -26% | 60% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| TREE Win Rate | 33% | 17% | 42% | 58% | 50% | 55% | |
| Peers Win Rate | 35% | 37% | 55% | 52% | 57% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| TREE Max Drawdown | -70% | -87% | -77% | -38% | -39% | -65% | |
| Peers Max Drawdown | -64% | -68% | -58% | -41% | -44% | -51% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[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 11/3/2026 (YTD)
How Low Can It Go
| Event | TREE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.0% | -18.8% |
| % Gain to Breakeven | 31.6% | 23.1% |
| Time to Breakeven | 41 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -61.6% | -9.5% |
| % Gain to Breakeven | 160.5% | 10.5% |
| Time to Breakeven | 50 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -62.1% | -6.7% |
| % Gain to Breakeven | 163.6% | 7.1% |
| Time to Breakeven | 350 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.6% | -33.7% |
| % Gain to Breakeven | 141.3% | 50.9% |
| Time to Breakeven | 108 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.3% | -19.2% |
| % Gain to Breakeven | 18.1% | 23.8% |
| Time to Breakeven | 3 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -19.9% | -3.7% |
| % Gain to Breakeven | 24.8% | 3.9% |
| Time to Breakeven | 22 days | 6 days |
In The Past
LendingTree's stock fell -24.0% during the 2025 US Tariff Shock. Such a loss loss requires a 31.6% gain to breakeven.
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| Event | TREE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.0% | -18.8% |
| % Gain to Breakeven | 31.6% | 23.1% |
| Time to Breakeven | 41 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -61.6% | -9.5% |
| % Gain to Breakeven | 160.5% | 10.5% |
| Time to Breakeven | 50 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -62.1% | -6.7% |
| % Gain to Breakeven | 163.6% | 7.1% |
| Time to Breakeven | 350 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.6% | -33.7% |
| % Gain to Breakeven | 141.3% | 50.9% |
| Time to Breakeven | 108 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -60.2% | -12.2% |
| % Gain to Breakeven | 151.1% | 13.9% |
| Time to Breakeven | 443 days | 62 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -34.2% | -15.4% |
| % Gain to Breakeven | 52.0% | 18.2% |
| Time to Breakeven | 182 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -79.0% | -53.4% |
| % Gain to Breakeven | 375.3% | 114.4% |
| Time to Breakeven | 137 days | 1085 days |
In The Past
LendingTree's stock fell -24.0% during the 2025 US Tariff Shock. Such a loss loss requires a 31.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LendingTree (TREE)
LendingTree, Inc. operates as an online consumer platform in the United States, primarily facilitating connections between consumers and various financial product providers. The company's business is structured into three main segments: Home, Consumer, and Insurance, reflecting its diverse offerings across the financial services landscape.
Through its Home segment, LendingTree provides access to a comprehensive suite of mortgage products, including options for purchasing, refinancing, reverse mortgages, and home equity loans, alongside real estate brokerage services. The Consumer segment addresses a broad array of personal financial needs, connecting users with providers for credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and credit-related services such as credit repair and debt settlement. In its Insurance segment, the company offers tools and services that allow consumers to obtain and compare quotes for home and automobile insurance by matching them with insurance lead aggregators.
Beyond these core segments, LendingTree enhances its ecosystem through ownership of several specialized platforms. These include Student Loan Hero, a resource for managing student debt; QuoteWizard.com, another dedicated marketplace for insurance comparisons; ValuePenguin, which offers objective analysis on various financial topics; and Stash, an investing and banking platform that provides personal investment accounts, IRAs, custodial accounts, and banking services complete with a Stock-Back rewards program. The company's primary customers are individual consumers across the United States seeking a wide range of financial and insurance products.
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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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- 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.
Peer Outperformance in Insurance Brokers
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| TREE | LendingTree | 19.4% | 2.2x | -56.1% | 79.5% | -80.9% | — |
| AJG | Arthur J. Gallagher | 19.6% | 44.7x | 13.9% | 16.1% | 78.5% | +159pp |
| RYAN | Ryan Specialty | 18.2% | 53.0x | -13.1% | 6.3% | 27.8% | +109pp |
| BRO | Brown & Brown | 18.8% | 18.9x | -8.2% | 2.3% | 18.4% | +99pp |
| BWIN | Baldwin Insurance | 15.4% | -36.5x | 42.7% | 42.2% | -15.6% | +65pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 35.2% | 72.0% | 118.9% | SPNT 161% · RGA 140% · RNR 136% |
| Diversified Banks | 12 | 31.5% | 140.5% | 88.8% | CM 139% · RY 128% · JPM 124% |
| Investment Banking & Brokerage | 13 | -2.7% | 90.2% | 82.6% | IBKR 321% · SNEX 164% · GS 142% |
| Multi-Sector Holdings | 4 | 17.1% | 58.2% | 79.6% | BRK-B 93% · VOYA 66% · JEF 35% |
| Life & Health Insurance | 20 | 16.2% | 49.9% | 74.4% | JXN 538% · UNM 301% · FG 186% |
| Property & Casualty Insurance | 42 | 22.7% | 71.8% | 65.8% | TRV 171% · PGR 169% · ACGL 162% |
| Multi-line Insurance | 9 | 10.6% | 66.6% | 53.7% | GNW 108% · L 95% · AIZ 95% |
| Regional Banks | 264 | 31.7% | 87.7% | 47.4% | CBC 263% · FCNCA 177% · NIC 138% |
| Financial Exchanges & Data | 15 | 19.6% | 33.5% | 33.1% | CBOE 173% · VIRT 120% · CME 70% |
| Insurance Brokers ← | 15 | 5.7% | 10.6% | 27.8% | LIFE 364% · ARX 89% · AJG 79% |
| Asset Management & Custody Banks | 85 | -7.4% | 19.4% | 9.1% | VCTR 257% · WT 217% · AAMI 195% |
| Diversified Financial Services | 4 | -2.5% | 20.9% | 3.9% | FRHC 167% · EQH 81% |
| Consumer Finance | 30 | 6.5% | 73.5% | 2.1% | ENVA 390% · FCFS 138% · AXP 101% |
| Commercial & Residential Mortgage Finance | 14 | -49.9% | 18.2% | -2.2% | FNMA 457% · FMCC 405% · ACT 155% |
| Specialized Finance | 3 | 5.2% | 28.7% | -22.4% | HASI -22% · CACC -29% |
| Transaction & Payment Processing Services | 17 | 11.0% | 16.3% | -25.2% | V 110% · MA 102% · CPAY 68% |
| Mortgage REITs | 35 | -19.7% | -8.4% | -36.2% | RITM 32% · DX 15% · AGNC 8% |
| Diversified Capital Markets | 20 | -49.7% | 5.2% | -64.9% | LPLA 76% · TW 38% · WULF -57% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.31 |
| Mkt Cap | 1.6 |
| Rev LTM | 1,247 |
| Op Inc LTM | 88 |
| FCF LTM | 85 |
| FCF 3Y Avg | -59 |
| CFO LTM | 93 |
| CFO 3Y Avg | -46 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 33.1% |
| Rev Chg 3Y Avg | 33.4% |
| Rev Chg Q | 33.5% |
| QoQ Delta Rev Chg LTM | 7.3% |
| Op Inc Chg LTM | 74.6% |
| Op Inc Chg 3Y Avg | 289.3% |
| Op Mgn LTM | 10.2% |
| Op Mgn 3Y Avg | 5.7% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 9.7% |
| CFO/Rev 3Y Avg | -5.8% |
| FCF/Rev LTM | 4.7% |
| FCF/Rev 3Y Avg | -7.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Insurance | 712 | 549 | 250 | 299 | 326 |
| Consumer | 253 | 222 | 279 | 396 | 330 |
| Home | 152 | 129 | 144 | 289 | 442 |
| Other | 0 | 0 | 0 | 0 | 1 |
| Total | 1,117 | 900 | 673 | 985 | 1,098 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Insurance | 174 | 159 | 104 | 92 | 113 |
| Consumer | 129 | 111 | 139 | 175 | 143 |
| Home | 48 | 40 | 48 | 103 | 153 |
| Other | -0 | -0 | -1 | -1 | 0 |
| Restructuring and severance | -2 | -1 | -10 | -4 | -0 |
| Amortization of intangibles | -5 | -6 | -8 | -25 | -43 |
| Litigation settlements and contingencies | -16 | -4 | -0 | 0 | -0 |
| Depreciation | -16 | -18 | -19 | -20 | -18 |
| Cost of revenue | -43 | -36 | -39 | -58 | -57 |
| Product development | -45 | -46 | -47 | -56 | -53 |
| Brand and other marketing expense | -48 | -45 | -51 | -86 | -86 |
| General and administrative expense | -113 | -109 | -118 | -152 | -153 |
| Goodwill impairment | -39 | ||||
| Change in fair value of contingent consideration | 8 | ||||
| Total | 65 | 45 | -41 | -33 | 8 |
| $ Mil | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|
| LendingTree Loans | 194 | 168 | ||
| Exchanges | 74 | 96 | ||
| Real Estate | 15 | 28 | 38 | 98 |
| Lending | 246 | 346 | ||
| Total | 283 | 292 | 284 | 444 |
Price Behavior
| Market Price | $28.87 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 08/12/2008 | |
| Distance from 52W High | -57.6% | |
| 50 Days | 200 Days | |
| DMA Price | $26.38 | $37.70 |
| DMA Trend | down | down |
| Distance from DMA | 9.4% | -23.4% |
| 3M | 1YR | |
| Volatility | 45.6% | 68.0% |
| Downside Capture | 212.08 | 200.30 |
| Upside Capture | 96.81 | 73.38 |
| Correlation (S&P 500) | 23.3% | 27.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.14 | 0.97 | 1.24 | 0.75 | 1.42 | 1.44 |
| Up Beta | -8.32 | -0.50 | 1.60 | 0.21 | 2.08 | 1.45 |
| Down Beta | 0.27 | 0.27 | 0.19 | 0.88 | 1.39 | 1.10 |
| Up Capture | 183% | 150% | 108% | 34% | 51% | 493% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 10 | 20 | 30 | 62 | 124 | 389 |
| Down Capture | -44% | 130% | 180% | 128% | 144% | 110% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 23 | 34 | 64 | 127 | 361 |
[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 | -55.0% | 68.0% | -0.89 | - |
| Sector ETF (XLF) | 10.6% | 14.6% | 0.46 | 37.5% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 27.1% |
| Gold (GLD) | -2.4% | 28.6% | -0.10 | -5.7% |
| Commodities (DBC) | 42.0% | 20.9% | 1.56 | -12.0% |
| Real Estate (VNQ) | 10.6% | 13.7% | 0.48 | 27.6% |
| Bitcoin (BTCUSD) | -29.9% | 43.5% | -0.70 | 20.6% |
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 | -28.1% | 74.9% | -0.12 | - |
| Sector ETF (XLF) | 8.9% | 18.3% | 0.35 | 42.3% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 42.2% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 0.4% |
| Commodities (DBC) | 8.3% | 19.6% | 0.31 | 4.4% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.06 | 42.1% |
| Bitcoin (BTCUSD) | 5.0% | 51.5% | 0.28 | 23.9% |
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 | -10.7% | 64.8% | 0.10 | - |
| Sector ETF (XLF) | 13.3% | 22.1% | 0.54 | 38.6% |
| Equity (SPY) | 15.2% | 17.9% | 0.71 | 41.8% |
| Gold (GLD) | 11.5% | 16.5% | 0.57 | 1.8% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 8.5% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 37.0% |
| Bitcoin (BTCUSD) | 61.1% | 66.2% | 1.01 | 14.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | |||
| 7/29/2026 | -19.6% | -14.3% | -28.3% |
| 4/30/2026 | -21.7% | -19.7% | -19.6% |
| 3/2/2026 | 23.9% | 13.0% | 13.6% |
| 10/30/2025 | 6.3% | -3.9% | -6.5% |
| 7/31/2025 | 6.0% | 16.0% | 45.6% |
| 5/1/2025 | -20.1% | -28.0% | -35.9% |
| 3/5/2025 | 22.5% | 13.8% | 18.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 8 | 9 |
| # Negative | 13 | 16 | 15 |
| Median Positive | 7.5% | 14.9% | 15.7% |
| Median Negative | -15.4% | -15.4% | -25.1% |
| Max Positive | 29.2% | 41.6% | 58.9% |
| Max Negative | -25.2% | -28.0% | -36.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2026 | |||
| 7/29/2026 | -19.6% | -14.3% | -28.3% |
| 4/30/2026 | -21.7% | -19.7% | -19.6% |
| 3/2/2026 | 23.9% | 13.0% | 13.6% |
| 10/30/2025 | 6.3% | -3.9% | -6.5% |
| 7/31/2025 | 6.0% | 16.0% | 45.6% |
| 5/1/2025 | -20.1% | -28.0% | -35.9% |
| 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% |
| 4/30/2024 | 29.2% | 34.4% | 15.7% |
| 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% |
| 5/2/2023 | -25.1% | -19.6% | -21.7% |
| 2/27/2023 | -13.6% | -11.9% | -29.9% |
| 11/3/2022 | 7.5% | -0.7% | 10.9% |
| 7/28/2022 | -3.9% | -9.1% | -25.1% |
| 5/5/2022 | 5.0% | -23.1% | -19.6% |
| 2/25/2022 | 15.7% | 5.9% | 15.1% |
| 10/28/2021 | -3.2% | 3.8% | -18.3% |
| 7/29/2021 | 2.0% | -11.8% | -19.2% |
| 4/29/2021 | -11.4% | -21.6% | -17.5% |
| 2/25/2021 | -15.4% | -23.2% | -36.6% |
| 11/5/2020 | -15.4% | -10.5% | -29.8% |
| SUMMARY STATS | |||
| # Positive | 11 | 8 | 9 |
| # Negative | 13 | 16 | 15 |
| Median Positive | 7.5% | 14.9% | 15.7% |
| Median Negative | -15.4% | -15.4% | -25.1% |
| Max Positive | 29.2% | 41.6% | 58.9% |
| Max Negative | -25.2% | -28.0% | -36.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 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 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 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 |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 11/3/2026Latest: Q3 2026 Earnings Reported 11/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Variable Marketing Margin | Reported | 3.7E10% | 3.725E10% | 3.75E10% | 0.9% | Raised | Guidance: 3.69E10% for 2026 | |
| 2026 Revenue | Reported | 1.30 Bil | 1.30 Bil | 1.31 Bil | -0.4% | Lowered | Guidance: 1.31 Bil for 2026 | |
| 2026 Revenue Growth | Reported | 17.0% | ||||||
| 2026 Adjusted EBITDA | Reported | 151.00 Mil | 152.00 Mil | 153.00 Mil | 2.4% | Raised | Guidance: 148.50 Mil for 2026 | |
| 2026 Adjusted EBITDA Growth | Reported | 14.0% | ||||||
| Q4 2026 Variable Marketing Margin | Reported | 8.8E9% | 9.05E9% | 9.3E9% | 0.0% | Same New | Guidance: 9.05E9% for Q3 2026 | |
| Q4 2026 Revenue | Reported | 315.00 Mil | 320.00 Mil | 325.00 Mil | -3.0% | Lower New | Guidance: 330.00 Mil for Q3 2026 | |
| Q4 2026 Adjusted EBITDA | Reported | 34.00 Mil | 35.00 Mil | 36.00 Mil | 0.0% | Same New | Guidance: 35.00 Mil for Q3 2026 | |
Prior: Q2 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Variable Marketing Margin | Reported | 8.8E9% | 9.05E9% | 9.3E9% | -4.7% | Lower New | Guidance: 9.5E9% for Q2 2026 | |
| Q3 2026 Revenue | Reported | 325.00 Mil | 330.00 Mil | 335.00 Mil | 4.8% | Higher New | Guidance: 315.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted EBITDA | Reported | 34.00 Mil | 35.00 Mil | 36.00 Mil | -10.3% | Lower New | Guidance: 39.00 Mil for Q2 2026 | |
| 2026 Variable Marketing Margin | Reported | 3.64E10% | 3.69E10% | 3.74E10% | -4.5% | Lowered | Guidance: 3.865E10% for 2026 | |
| 2026 Revenue | Reported | 1.30 Bil | 1.31 Bil | 1.32 Bil | -1.1% | Lowered | Guidance: 1.32 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 145.00 Mil | 148.50 Mil | 152.00 Mil | -5.4% | Lowered | Guidance: 157.00 Mil for 2026 | |
Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Variable Marketing Margin | Reported | 9.3E9% | 9.5E9% | 9.7E9% | -1.6% | Lower New | Guidance: 9.65E9% for Q1 2026 | |
| Q2 2026 Revenue | Reported | 305.00 Mil | 315.00 Mil | 325.00 Mil | -1.9% | Lower New | Guidance: 321.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted EBITDA | Reported | 38.00 Mil | 39.00 Mil | 40.00 Mil | -2.5% | Lower New | Guidance: 40.00 Mil for Q1 2026 | |
| 2026 Variable Marketing Margin | Reported | 3.78E10% | 3.865E10% | 3.95E10% | 0.7% | Raised | Guidance: 3.84E10% for 2026 | |
| 2026 Revenue | Reported | 1.30 Bil | 1.32 Bil | 1.35 Bil | 1.7% | Raised | Guidance: 1.30 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 152.00 Mil | 157.00 Mil | 162.00 Mil | 1.3% | Raised | Guidance: 155.00 Mil for 2026 | |
Q4 2025 Earnings Reported 3/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Variable Marketing Margin | Reported | 9.4E9% | 9.65E9% | 9.9E9% | 15.6% | Higher New | Guidance: 8.35E9% for Q4 2025 | |
| Q1 2026 Revenue | Reported | 317.00 Mil | 321.00 Mil | 325.00 Mil | 12.6% | Higher New | Guidance: 285.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | Reported | 39.00 Mil | 40.00 Mil | 41.00 Mil | 31.1% | Higher New | Guidance: 30.50 Mil for Q4 2025 | |
| Q1 2026 AEBITDA/VMM | Reported | 0.41 | ||||||
| 2026 Variable Marketing Margin | Reported | 3.74E10% | 3.84E10% | 3.94E10% | 13.4% | Higher New | Guidance: 3.385E10% for 2025 | |
| 2026 Revenue | Reported | 1.27 Bil | 1.30 Bil | 1.33 Bil | 20.0% | Higher New | Guidance: 1.08 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 150.00 Mil | 155.00 Mil | 160.00 Mil | 22.0% | Higher New | Guidance: 127.00 Mil for 2025 | |
| 2026 AEBITDA/VMM | Reported | 0.4 | ||||||
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