LendingTree, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data LendingTree, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	384	618	765	1,107	910	1,098	985	673	900	1,117
Cost of revenue	13.8	17.2	36.4	68.4	54.5	57.3	57.8	38.8	36.1	42.5
Gross profit	371	251	305	432	369	410	369	290	310	352
Research and development	13.8	17.9	27	40	43.6	52.9	55.6	47.2	46.4	45.3
Selling and marketing	261	433	500	735	617	774	702	434	636	813
General and administrative	37.2	71.5	101	117	129	153	152	118	109	113
Operating income	52.1	33.1	56.2	50.7	-6.6	8.03	-32.8	-40.6	44.6	64.8
Interest expense	0.56	7.03	12.4	20.3	36.3	46.9	26
Other non-operating income						123	3.84	-106	-54.2	3
Pre-tax income	51.6	25.7	43.7	31	-42.5	84.4	-54.9	-125	-37.4	21
Income tax	20.4	6.29	-65.6	-8.48	-20	11.3	133	-2.52	4.32	-130
Income from continuing operations	31.2	19.4	109	39.5	-22.6	73.1	-188	-122
Net income	27.5	15.6	96.5	17.8	-48.3	69.1	-188	-122	-41.7	151
EBITDA	57.1	40.2	63.6	61.7	7.6	25.9	-12.7	-21.5	62.9	81.3
EPS, basic	2.33	1.30	7.72	1.39	-3.71	5.24	-14.69	-9.46	-3.14	11.14
EPS, diluted	2.15	1.14	6.85	1.22	-3.71	5.05	-14.69	-9.46	-3.14	10.78
Shares, basic (weighted)	11.8	11.9	12.5	12.8	13	13.2	12.8	12.9	13.3	13.6
Shares, diluted (weighted)	12.8	13.7	14.1	14.6	13	13.7	12.8	12.9	13.3	14.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	91.1	369	105	60.2	170	251	299	112	107	81.1
Receivables	41.4	53.4	91.1	113	89.8	97.7	83.1	55	97.8	111
Other current assets	4.02	11.9	16.4	15.5	27.9	25.4	26.3	29.5	34.1	38.1
Total current assets	141	438	234	189	296	374	414	196	238	230
Property, plant and equipment	35.5	36.4	23.2	31.4	62.4	72.5	59.2	50.5	42.8	32.8
Lease right-of-use assets				25.5	84.1	77.3	67.1	57.2	52.6	31.7
Goodwill	56.5	113	348	420	420	420	420	382	382	382
Intangible assets	71.7	81.1	206	182	129	85.8	58.3	50.6	43.3	38.1
Other non-current assets	0.81	1.91	2.17	4.33	5.33	6.94	6.1	6.34	7.35	17
Total assets	323	693	896	948	1,189	1,299	1,199	803	768	856
Accounts payable	5.59	9.25	15.1	2.87	10.1	1.69	2.03	1.96	8.36	6.74
Accrued liabilities	49.4	77.2	93.2	113	101	107	75.1	70.5	107	127
Deferred revenue			0.4	0.6	0.7	0.8	0.9	0
Short-term debt		0	125	75	0	166	2.5	3.13	125	3.93
Total current liabilities	66.7	148	262	231	112	274	82.5	75.6	240	137
Long-term debt	0	238	251	264	611	478	814	526	344	388
Lease liabilities				21.4	92.4	96.2	88.2	75	69.2	43.6
Other non-current liabilities	1.69	1.6	8.36	4.75	0.36	0.35	0.31	0.27	0.13	0.14
Total liabilities	92	399	550	546	824	851	991	679	659	569
Total debt	0	238	376	339	611	644	816	529	469	392
Paid-in capital	1,018	1,088	1,134	1,178	1,189	1,243	1,189	1,228	1,254	1,281
Retained earnings	-723	-708	-610	-593	-641	-572	-715	-838	-879	-728
Treasury stock	-64.1	-85.1	-178	-183	-183	-223	-266	-266	-266	-266
Shareholders' equity	231	295	346	402	365	448	208	124	109	287
Total equity	231	295	346	402	365	448	208	124	109	287
Total liabilities and equity	323	693	896	948	1,189	1,299	1,199	803	768	856
Shares outstanding	11.8	12	12.8	13	13.1	13.1	12.8	13	13.4	13.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	27.5	15.6	96.5	17.8	-48.3	69.1	-188	-122	-41.7	151
Depreciation and amortization	4.94	7.09	7.39	11	14.2	17.9	20.1	19.1	18.3	16.5
Stock-based compensation	9.65	23.4	44.4	52.2	53.7	68.6	59.6	39.7	28.6	29.5
Deferred income tax	6.37	-6.37	-63.9	-8.56	-9.63	10.9	133	-4.69	2.79	-130
Change in receivables	-8.36	-11.4	-16.8	-22.5	21.9	-10.3	9.14	27.7	-43	-13.1
Cash from operations	64.2	104	124	157	111	131	43	67.6	62.3	73.1
Capital expenditures	-32	-8.04	-14.9	-20	-42.1	-35.1	-11.4	-12.5	-11.2	-12.4
Acquisitions	-81.2
Cash from investing	-120	-74.4	-383	-101	-122	10.1	-27.9	-12.5	-11.2	-9.93
Stock issued	-4.09	1.6	2.22	8.7	7.7	2.2	0	0
Share buybacks	-48.5	-19.9	-93.7	-5.47	0	-40	-43	0	0
Dividends paid	0	0
Cash from financing	-52.6	253	4.84	-87.7	193	-63.3	32.5	-242	-56.5	-88.7
Net change in cash	-116	277	-267	-44.8	110	81.3	47.6	-187	-5.46	-25.5
Free cash flow	32.3	95.5	109	137	69.2	96.2	31.5	55	51	60.7
Interest paid	0.32	1.33	3.59	7.01	4.74	8.91	19	23.7	38.2	37.2
Income taxes paid	3.1	20.4	0.54	0.03	0.56	0.19	0.4	1.28	1.68	1.53

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $24.62 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	29.8%	Gross profit / revenue.
Operating margin	8.2%	Operating income / revenue.
EBITDA margin	9.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.9%	Pre-tax income / revenue.
Net margin	14.3%	Net income / revenue.
FCF margin	5.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.8%	Cash from operations / revenue.
Effective tax rate	-192.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	56.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	19.9%	Net income / average total assets.
Return on invested capital (ROIC)	13.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.4%	Research and development expense / revenue.
Stock-based pay / revenue	1.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	24.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	13.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-1.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-1.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	45.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	29.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	60.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	17.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-8.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	18.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	24.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-2.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	163.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-4.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	11.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-10.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-6.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	6.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.85x	Current assets / current liabilities.
Quick ratio	1.60x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.68x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.22x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	42.8%	Total debt / total assets.
Liabilities / assets	64.8%	Total liabilities / total assets.
Net debt	$279.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.32x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$137.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	45.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$96.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.39x	Revenue / average total assets.
Fixed asset turnover	41.7x	Revenue / average property, plant and equipment.
Receivables turnover	8.49x	Revenue / average receivables.
Days sales outstanding	43 days	365 x average receivables / revenue.
Days payables	379 days	365 x average accounts payable / cost of revenue.
FCF conversion	40.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	14.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$12.93	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$90.24	Revenue / diluted weighted shares.
FCF per share	$5.26	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.12	Cash from operations / diluted weighted shares.
Book value per share	$22.86	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$6.86	Tangible book value / shares outstanding.
Cash per share	$7.89	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$345.7M	Share price x shares outstanding.
Enterprise value	$625.2M	Market cap + total debt - cash - short-term investments.
P/E	1.90x	Market cap / net income. Only when net income is positive.
P/S	0.27x	Market cap / revenue.
P/B	1.08x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	4.68x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.02x	Market cap / cash from operations, when positive.
EV/Sales	0.49x	Enterprise value / revenue.
EV/EBIT	6.02x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.20x	Enterprise value / EBITDA, when both are positive.
EV/FCF	8.46x	Enterprise value / free cash flow, when both are positive.
FCF yield	21.4%	Free cash flow / market cap.
Earnings yield	52.6%	Net income / market cap (the inverse of P/E).

What was LendingTree, Inc.'s revenue in fiscal 2025?

LendingTree, Inc. reported revenue of $1.12B for fiscal 2025, 24.1% higher than the year before.

Was LendingTree, Inc. profitable in fiscal 2025?

Yes. Net income was $151.3M, a net margin of 13.5%.

How much free cash flow did LendingTree, Inc. generate in fiscal 2025?

Cash from operations of $73.1M minus capital expenditures of $12.4M left free cash flow of $60.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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