olivLaw · US equity research
LendingTree, Inc. TREE
Loan Brokers · SIC 6163 · Vertical: Nondepository credit (SIC 616x)
LendingTree runs an online platform that compares loan, insurance and other financial offers and sends consumers to partners in its network, earning match fees. Its insurance segment has become the main growth driver, and the company reported in the second quarter of 2026 revenue growth of 25% year over year.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, LendingTree, Inc. (TREE) stock was 38.35 USD (+32.84% on the day), with market capitalisation 538.4 m USD, P/E 3.1 on diluted EPS of 12.46 USD over the last 12 months, beta 1.32, 52-week range 24.00–68.01 USD. Latest reported quarter (Q2 2026): revenue of 313.4 m USD (+25.3% YoY), net income of 9.6 m USD (+8.0% YoY), diluted EPS 0.68 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 82.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 21.11 – 32.65
- above the upper band · %B 1.49 · band width 42.9%
- SMA 50 / 200
- 26.54 / 37.56
- mixed trend
- MACD (12, 26, 9)
- 1.31 / 0.32
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +56.5% | −1.1% | +57.6 pp | — |
| 3 months | +13.4% | −0.5% | +13.9 pp | — |
| 6 months | −3.3% | +4.4% | −7.7 pp | — |
| Year to date | −27.8% | +12.3% | −40.1 pp | — |
| 1 year | −38.2% | +13.5% | −51.7 pp | −49.9% |
| 3 years | +138.5% | +76.4% | +62.1 pp | −13.2% |
| 5 years | −74.4% | +63.7% | −138.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 260.8 m | 261.5 m | 239.7 m | 250.1 m | 307.8 m | 319.7 m | 327.3 m | 313.4 m |
| Cost of revenue | 9.4 m | 9.7 m | 9.9 m | 10.0 m | 11.0 m | 11.6 m | 11.7 m | 11.3 m |
| Gross profit | 78.6 m | 87.9 m | 79.0 m | 85.1 m | 94.6 m | 93.4 m | 100.8 m | 88.8 m |
| Research & development | 11.2 m | 12.9 m | 11.9 m | 11.5 m | 11.3 m | 10.6 m | 11.5 m | 10.0 m |
| Operating income | 9.9 m | 17.9 m | -7.1 m | 20.9 m | 28.8 m | 22.2 m | 31.1 m | 21.8 m |
| Depreciation & amortisation | 4.6 m | 4.4 m | 4.3 m | 4.2 m | 4.0 m | 3.9 m | 4.2 m | 4.3 m |
| Pre-tax income | -57.5 m | 9.1 m | -14.8 m | 10.8 m | 11.6 m | 13.5 m | 22.9 m | 14.1 m |
| Income tax | 447.0 k | 1.6 m | -2.4 m | 1.9 m | 1.4 m | -131.2 m | 5.7 m | 4.6 m |
| Net income | -58.0 m | 7.5 m | -12.4 m | 8.9 m | 10.2 m | 144.7 m | 17.3 m | 9.6 m |
| Diluted EPS | -4.34 | 0.56 ≈ | -0.92 | 0.65 | 0.73 | 9.83 ≈ | 1.22 | 0.68 |
| Operating cash flow | 45.3 m ≈ | 16.2 m | -210.0 k | 28.0 m ≈ | 28.8 m ≈ | 16.5 m | 11.6 m | 29.2 m ≈ |
| Capex | 2.9 m ≈ | 2.8 m | 3.4 m | 2.7 m ≈ | 3.3 m ≈ | 3.0 m | 2.8 m | 3.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 21-quarter history (min 3.4, median 56.5, max 374.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 764.9 m | 1.1 bn | 910.0 m | 1.1 bn | 985.0 m | 672.5 m | 900.2 m | 1.1 bn |
| Revenue YoY | +23.8% | +44.7% | −17.8% | +20.7% | −10.3% | −31.7% | +33.9% | +24.1% |
| Net income | unavailable | unavailable | -48.3 m | 69.1 m | -188.0 m | -122.4 m | -41.7 m | 151.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −371.9% | unavailable | unavailable | unavailable |
| Diluted EPS | 6.85 | 1.22 | -3.71 | 5.05 | -14.69 | -9.46 | -3.14 | 10.78 |
| Diluted EPS YoY | +500.9% | −82.2% | −404.1% | unavailable | −390.9% | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | -5.3% | 6.3% | -19.1% | -18.2% | -4.6% | 13.5% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | 31.5 m | 55.0 m | 51.0 m | 60.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 81.1 m USD
- Financial debt
- 391.6 m USD
- Net debt
- 310.5 m USD
- Equity
- 286.8 m USD
- Total assets
- 855.7 m USD
- Debt / equity
- 1.37x
- Current ratio
- 1.67x
- ROE
- 76.5%
- ROA
- 18.6%
- FCF margin
- 5.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 910.0 m | 1.1 bn | 985.0 m | 672.5 m | 900.2 m | 1.1 bn | SEC (XBRL)· 09 Mar 2026verified |
| Cost of revenue | 54.5 m | 57.3 m | 57.8 m | 38.8 m | 36.1 m | 42.5 m | SEC (XBRL)· 09 Mar 2026verified |
| Gross profit | 369.5 m | 410.4 m | 368.9 m | 289.8 m | 309.6 m | 352.0 m | SEC (XBRL)· 09 Mar 2026verified |
| Research & development | 43.6 m | 52.9 m | 55.6 m | 47.2 m | 46.4 m | 45.3 m | SEC (XBRL)· 09 Mar 2026verified |
| Operating income | -6.6 m | 8.0 m | -32.8 m | -40.6 m | 44.6 m | 64.8 m | SEC (XBRL)· 09 Mar 2026verified |
| Depreciation & amortisation | 14.2 m | 17.9 m | 20.1 m | 19.1 m | 18.3 m | 16.5 m | SEC (XBRL)· 09 Mar 2026verified |
| EBITDA | 7.6 m ≈ | 25.9 m ≈ | -12.7 m ≈ | -21.5 m ≈ | 62.9 m ≈ | 81.3 m ≈ | SEC (XBRL)· 09 Mar 2026derived |
| Interest expense | 36.3 m | 46.9 m | 26.0 m | — | — | — | SEC (XBRL)· 28 Feb 2023verified |
| Pre-tax income | -42.5 m | 84.4 m | -54.9 m | -124.9 m | -37.4 m | 21.0 m | SEC (XBRL)· 09 Mar 2026verified |
| Income tax | -20.0 m | 11.3 m | 133.0 m | -2.5 m | 4.3 m | -130.3 m | SEC (XBRL)· 09 Mar 2026verified |
| Net income | -48.3 m | 69.1 m | -188.0 m | -122.4 m | -41.7 m | 151.3 m | SEC (XBRL)· 09 Mar 2026verified |
| Diluted EPS | -3.71 | 5.05 | -14.69 | -9.46 | -3.14 | 10.78 | SEC (XBRL)· 09 Mar 2026verified |
| Weighted average diluted shares | 13.0 m | 13.7 m | 12.8 m | 12.9 m | 13.3 m | 14.1 m | SEC (XBRL)· 09 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 169.9 m | 251.2 m | 298.8 m | 112.1 m | 106.6 m | 81.1 m | SEC (XBRL)· 09 Mar 2026verified |
| Receivables | 89.8 m | 97.7 m | 83.1 m | 55.0 m | 97.8 m | 110.6 m | SEC (XBRL)· 09 Mar 2026verified |
| Current assets | 296.4 m | 374.4 m | 414.0 m | 196.5 m | 238.5 m | 229.7 m | SEC (XBRL)· 09 Mar 2026verified |
| Property, plant & equipment, net | 62.4 m | 72.5 m | 59.2 m | 50.5 m | 42.8 m | 32.8 m | SEC (XBRL)· 09 Mar 2026verified |
| Goodwill | 420.1 m | 420.1 m | 420.1 m | 381.5 m | 381.5 m | 381.5 m | SEC (XBRL)· 09 Mar 2026verified |
| Intangibles (excl. goodwill) | 128.5 m | 85.8 m | 58.3 m | 50.6 m | 43.3 m | 38.1 m | SEC (XBRL)· 09 Mar 2026verified |
| Total assets | 1.2 bn | 1.3 bn | 1.2 bn | 802.8 m | 767.7 m | 855.7 m | SEC (XBRL)· 09 Mar 2026verified |
| Short-term debt | 0 | 166.0 m | 2.5 m | 3.1 m | 124.9 m | 3.9 m | SEC (XBRL)· 09 Mar 2026verified |
| Long-term debt | 611.4 m | 478.2 m | 813.5 m | 525.6 m | 344.1 m | 387.7 m | SEC (XBRL)· 09 Mar 2026verified |
| Current liabilities | 111.8 m | 274.4 m | 82.5 m | 75.6 m | 240.5 m | 137.5 m | SEC (XBRL)· 09 Mar 2026verified |
| Total liabilities | 824.2 m | 851.4 m | 991.4 m | 678.6 m | 658.9 m | 568.9 m | SEC (XBRL)· 09 Mar 2026verified |
| Equity | 364.8 m † | 448.0 m † | 207.9 m † | 124.1 m † | 108.8 m † | 286.8 m † | SEC (XBRL)· 09 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | 43.0 m | 67.6 m | 62.3 m | 73.1 m | SEC (XBRL)· 09 Mar 2026verified |
| Capex | 42.1 m | 35.1 m | 11.4 m | 12.5 m | 11.2 m | 12.4 m | SEC (XBRL)· 09 Mar 2026verified |
| Free cash flow | — | — | 31.5 m ≈ | 55.0 m ≈ | 51.0 m ≈ | 60.7 m ≈ | SEC (XBRL)· 09 Mar 2026derived |
| Investing cash flow | -122.1 m | 10.1 m | -27.9 m | -12.5 m | -11.2 m | -9.9 m | SEC (XBRL)· 09 Mar 2026verified |
| Financing cash flow | 193.3 m | -63.3 m | 32.5 m | -242.0 m | -56.5 m | -88.7 m | SEC (XBRL)· 09 Mar 2026verified |
| Share repurchases | 0 | 40.0 m | 43.0 m | 0 | 0 | — | SEC (XBRL)· 07 Mar 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 71 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 538.4 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet59
- Growth36
- Valuation91
- Quality67
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 111.37 – 219.19 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/E111.37 – 219.19 (Mid 164.82)4 companies used · median multiple 13.2x · quartiles 8.9x – 17.6xFIGR, FINV, ONIT, PFSI
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 71/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 16.5% | 100 (on a fixed band) | 14% |
| Net margin · Quality | 14.3% | 63 (vs peers) | 8% |
| FCF conversion · Quality | 40.7% | 15 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 4.3% | 36 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 2.3x | 48 (on a fixed band) | 14% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.8x | 87 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 3.1x | 100 (on a fixed band) | 14% |
| EV/EBITDA · Valuation | 6.8x | 75 (on a fixed band) | 14% |
| FCF yield · Valuation | 13.7% | 100 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet59/100 · 2/3 factors with a value
- Growth· partial36/100 · 1/2 factors with a value
- Quality67/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation91/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
LendingTree, Inc. (TREE). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.1 bn USD in 2025; YoY growth 24.1%; net margin 14.3%; ROE 82.8%; net debt/EBITDA 2.3x.
The estimated value range is 111.37–219.19 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 164.82 USD, the price of 38.35 USD leaves a potential of 329.8% (value / price − 1) and a margin of safety of 76.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 71/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 16.5%
- Current ratio: 1.8x
- P/E (TTM): 3.1x
- EV/EBITDA: 6.8x
- FCF yield: 13.7%
- The price is below the estimated value range
What contradicts it
- FCF conversion: 40.7%
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Interest coverage, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Nondepository credit (SIC 616x) · same industry group (3-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| PFSIPennyMac Financial Services, Inc. | 3.5 bn | 15.2 | 5.6% | 640.7% | −25.2% | −50% / −13% |
| FOAFinance Of America Companies Inc. | 751.1 m | — | -0.1% | -0.1% | +26.1% | −50% / +31% |
| TREELendingTree, Inc. | 538.4 m | 3.1 | 82.8% | 14.3% | +24.1% | −38% / +138% |
| BETRBetter Home & Finance Holding Company | 383.2 m | — | -267.7% | -112.6% | +52.0% | −58% / −12% |
| ONITOnity Group Inc. | 256.5 m | 2.0 | 25.9% | 12.3% | +9.3% | −31% / +19% |
| UWMCUWM Holdings Corp | 174.2 m | — | -2.7% | -1.0% | +18.2% | −71% / −69% |
| BLNEBeeline Holdings, Inc. | 22.8 m | — | -41.1% | -215.3% | +600.0% | −66% / −95% |
| FIGRFigure Technology Solutions, Inc. | — | 24.8 | 16.8% | 33.5% | +48.7% | −36% / unavailable |
| FINVFinVolution Group | — | 11.3 | 16.3% | 2,679.2% | +3.9% | −39% / −31% |
1- and 3-year price returns: for TREE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 23.49 Total return -39% · Per year -39% | 41.53 Total return 8% · Per year 8% | 62.55 Total return 63% · Per year 63% |
| 3 years | 22.70 Total return -41% · Per year -16% | 45.17 Total return 18% · Per year 6% | 74.72 Total return 95% · Per year 25% |
| 5 years | 21.94 Total return -43% · Per year -11% | 49.13 Total return 28% · Per year 5% | 89.25 Total return 133% · Per year 18% |
- Exit P/E± 11.29
- Net margin± 7.90
- Annual revenue growth± 6.50
- Annual dilution± 0.66
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (03 Nov 2026 · results).
In brief
LendingTree runs an online platform that compares loan, insurance and other financial offers and sends consumers to partners in its network, earning match fees. Its insurance segment has become the main growth driver, and the company reported in the second quarter of 2026 revenue growth of 25% year over year 3.
SWOT
Strengths
- The LendingTree brand has long recognition, which the company says helps attract consumers more easily than less known competitors 1. A broad partner network lets consumers compare several offers in one search 1.
- The insurance segment showed strong growth in the second quarter of 2026, and segment profit rose 3. The company has reported double-digit adjusted EBITDA growth over several consecutive quarters 3.
- A revenue model based on match fees paid by partners rather than consumers can be attractive to users and allow scaling without direct costs to customers 1.
Weaknesses
- Reliance on one large partner, Progressive, which made up a significant share of revenue in 2025, exposes the company to concentration risk 1.
- The Consumer segment declined in the second quarter of 2026, and demand for small business loans weakened through the quarter 3.
- The Home segment depends on interest rates and the real estate market, which have remained weak, and these conditions can limit business volume 12.
Opportunities
- The company launched new AI-based consumer features in 2026 and expanded its platform into more product categories. If these raise conversion, they could add revenue 3.
- Management expects a rebound in demand for business loans, which could restore quarterly growth if the trend is confirmed 3.
- If mortgage rates fall, refinancing could pick up again, and the Home segment could benefit from higher request volumes 12.
Threats
- Partners could cut acquisition budgets or leave the platform if they are dissatisfied with lead quality 1.
- Regulatory changes on telemarketing and consumer consent may change costs and limit some acquisition channels 1.
- Dependence on search engines and online advertising exposes the company to algorithm changes and higher customer acquisition costs 1.
Risks
- Dependence on network partnershigh
A significant part of revenue comes from a small number of partners. If they reduce demand or end their relationship, revenue could fall materially 1.
- Sensitivity to interest rateshigh
Refinancing and mortgage activity are directly affected by interest rates. A rise in rates could reduce demand and Home segment revenue 12.
- Marketing regulationmedium
Companies using automated calls and messages face strict consent rules. Legislative or court changes could alter the company's customer acquisition model 1.
- Dependence on online channelsmedium
The company depends on search engines and advertising networks. Changes to algorithms or policies could reduce traffic and raise costs 1.
- Technology and AI riskmedium
AI systems and cloud providers can suffer outages or produce inaccurate results. These problems could affect reputation and operations 1.
Investment thesis
What would need to be true (bull case)
- If the insurance segment keeps its growth pace, the company could exceed its 2026 guidance and strengthen profitability 3.
- If demand for business loans returns, the Consumer segment could recover to earlier levels 3.
- The shift of financial services online could support long-term growth of the platform and of partners' advertising budgets 1.
What would break the thesis
- If interest rates stay high, the Home segment could remain weak and refinancing could stay low 12.
- If demand for business loans keeps falling, the Consumer segment could contract further 3.
- Dependence on a few large partners could expose the company to rapid revenue losses if one relationship deteriorates 1.
What to watch
- Full-year 2026 revenue and adjusted EBITDA against guidance2026
- Consumer segment revenue trend and recovery in demand for business loansQ3 2026
- Mortgage rate path and refinance volume2027
- Next annual report with partner concentration and revenue detailsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (03 Nov 2026 · results).
The business
LendingTree, Inc. describes itself as one of the leading online consumer platforms in financial services. Through multiple brands, consumers compare offers from approximately 770 Network Partners 1. The company does not charge consumers; revenue comes from match fees paid by partners that receive a consumer request, sometimes combined with fees for clicks or calls 1. Total revenue reached 1117.3 million dollars in 2025, up from 900.2 million in 2024 1.
The company began as a matching service for mortgage loans, and the LendingTree brand launched in 1998 1. Since then it has widened its product range, and in 2025 it exited the insurance agency business while keeping its insurance quote comparison 1. Its strategy rests on performance marketing, product development and the assumption that financial services are moving online, as retail and travel did 1.
Between July 2025 and June 2026 the company refinanced its existing debt with a new 475.0 million dollar facility maturing in 2030 12. It also publishes financial guidance, for example for 2026 revenue, so actual results can be compared with those expectations 3.
Segments
Market context
The mortgage lead market is sensitive to interest rates. The average 30-year mortgage rate was 6.4% in the second quarter of 2026, compared with 6.8% a year earlier 2. The refinance share of mortgage origination dollars rose to 34% in 2025 from 21% in 2024 1. Pressure on home purchases remains, and existing home sales have stayed historically low 12.
The online insurance market looks more favourable: carriers reported strong auto underwriting results after several quarters of premium increases 13. The company notes that insurance advertising budgets have grown, which supported quarterly revenue in 2026 3.
Trends
- Shift to online shoppingtailwind
The company argues that financial services are moving online, as retail and travel did. If this continues, suppliers could move more advertising budgets to the online channel 1.
- High mortgage ratesmixed
High interest rates have reduced refinance demand and kept pressure on purchases. If rates fall, refinancing could recover, but lenders could also pay less per lead 12.
- Strong auto insurance resultstailwind
Insurance carriers have benefited from strong auto underwriting results, which has raised their marketing budgets. If this continues, the insurance segment could remain the main support for revenue 13.
- Weaker demand for business and consumer loansheadwind
Demand for small business and personal loans weakened in the second quarter of 2026, partly due to geopolitical events and larger tax refunds 23. If this persists, the Consumer segment could stay under pressure.
Competitive position
The company competes with other online marketing firms, including intermediaries running similar network models. It also competes with lenders and insurance agents that attract customers directly through their own websites, online advertising, television or branches 1. Partner relationships are key: if many consumers go directly to lenders, revenue could decline 1.
- Network lenders and mortgage brokers that also market directly
Partners that pay for leads but can also attract customers directly, reducing dependence on the platform 1.
- Online network-type intermediaries
Online marketing companies running similar matching models that could compete for the same partners and advertising budgets 1.
- Insurance agents and quote sites
Insurance agents and comparison sites that attract consumers directly, especially in auto insurance 1.
- Lenders attracting customers directly
Banks and lenders using their own sites, advertising and branch networks to win customers without intermediaries 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- LendingTree ranks New Jersey No. 1 for credit card debt. Here's whyYahoo Finance — News · 28 Aug 2026 · EN
The latest news item in our archive is from 28 Aug 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report30 Oct 2026Departure or appointment of officers · Amendments to articles or bylaws · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report18 Jun 2026Shareholder vote
- Current report18 May 2026Departure or appointment of officers
- Quarterly report01 May 2026
- Current report30 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement27 Apr 2026
- Annual report09 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / LendingTree, Inc. · 09 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / LendingTree, Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / LendingTree, Inc. · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.