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loanDepot
(NYSE:LDI)
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Rating:42Neutral
Price Target:
$1.00
▼(-0.99% Downside)
Action:Reiterated
Date:08/05/26
LDI scores low primarily due to weak financial durability: very high leverage, persistent net losses, and negative operating/free cash flow outweigh improving operating trends. Technicals add pressure with the stock below key longer-term moving averages and a negative MACD. Offsetting factors are modestly constructive—management’s operational initiatives and margin guidance, plus improving business momentum in recent updates—but these are not yet sufficient to overcome the balance-sheet and cash-burn risk.
Positive Factors
Figure partnership & 5x5 HomeLoan launch
Integrating Figure and launching the 5x5 HomeLoan is a structural improvement to origination economics. Faster approvals and funding reduce pipeline duration and production cost, while HELOC-like products typically carry higher gain-on-sale margins and diversify product mix, supporting durable margin expansion and funding agility over months.
Negative Factors
Very high leverage
Extreme leverage significantly elevates refinancing and solvency risk. With a thin equity cushion, earnings volatility or margin setbacks can quickly impair capital ratios and force asset sales or restructurings. High debt amplifies sensitivity to interest rates and restricts strategic flexibility for investments or acquisitions over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Figure partnership & 5x5 HomeLoan launch
Integrating Figure and launching the 5x5 HomeLoan is a structural improvement to origination economics. Faster approvals and funding reduce pipeline duration and production cost, while HELOC-like products typically carry higher gain-on-sale margins and diversify product mix, supporting durable margin expansion and funding agility over months.
Read all positive factors
loanDepot Key Performance Indicators (KPIs)
Any
Total Loan Originations
Measures the total value of loans originated, providing insight into the company's market reach and growth in lending activity.
Measures the total value of loans originated, providing insight into the company's market reach and growth in lending activity.
Data provided by:
The Fly
The FlyloanDepot (LDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$331.47M
Dividend YieldN/A
Average Volume (3M)1.96M
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth14.29%
EPS Growth21.88%
CountryUS
Employees4,695
SectorFinancial
Sector Strength70
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)-0.34
Shares Outstanding231,707,950
10 Day Avg. Volume2,077,957
30 Day Avg. Volume1,956,496
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.86
Price to Sales (P/S)0.28
P/FCF Ratio-0.59
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$1.25Price Target Upside23.76% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-0.07
Revenue Forecast (FY)$1.35B
loanDepot Business Overview & Revenue Model
Company Description
loanDepot, Inc. is a financial services company operating within the United States' residential mortgage industry. It manages the full lifecycle of home loans, from initial origination and financing through their eventual sale and ongoing servicin...
How the Company Makes Money
loanDepot primarily makes money through (1) revenue earned when it originates residential mortgage loans and sells them into the secondary market, and (2) income associated with servicing mortgages. Origination-related revenue generally comes from...
loanDepot Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Neutral
The call communicated clear operational progress — including ramped hiring, wholesale reopening, a strategic partnership with Figure, the launch of the fast-turn 5x5 HomeLoan, and efficiency gains (marketing -12%, expense control) — that position the company for improved margins and faster funding cycles. However, near-term financials remain under pressure: adjusted net loss widened to $34M, revenue fell ~5.4%, gain-on-sale margins compressed to 271 bps (down 53 bps), origination volume was modestly down, servicing revenue was pressured, and cash decreased by $60M. Management provided constructive Q2 guidance (gain-on-sale margin 330–360 bps and higher origination guidance) and emphasized automation and hedging to manage volatility. Overall, operational momentum is strong but the financial headwinds this quarter balance those positives.Positive Updates
Rebuild and Sales Capacity Expansion
Added over 100 new loan officers across direct and retail channels, reopened the wholesale channel, and reported a market share increase in closed loan volume, positioning the company for scalable origination growth.
Negative Updates
Widening Adjusted Net Loss
Reported an adjusted net loss of $34 million in Q1 versus an adjusted net loss of $21 million in Q4 2025, a sequential deterioration of $13 million.
Read all updates
Q1-2026 Updates
Positive
Negative
Rebuild and Sales Capacity Expansion
Added over 100 new loan officers across direct and retail channels, reopened the wholesale channel, and reported a market share increase in closed loan volume, positioning the company for scalable origination growth.
Read all positive updates
Company Guidance
Management provided detailed guidance and Q1 results: Q1 pull‑through weighted rate‑lock volume was $8.3B (up 14% from $7.3B and within prior guidance of $7.75B–$8.75B), pull‑through weighted gain‑on‑sale margin was 271 bps (vs. 324 bps prior quarter), adjusted total revenue was $299M (vs. $316M), adjusted net loss was $34M (vs. $21M), loan origination volume was $7.7B (down 5% from $8.0B), servicing fee income was $109M (vs. $113M), recapture rate improved to 73% (from 71%), total expenses fell by $0.565M, marketing spend was cut 12%, and ending cash was $277M (down $60M); for Q2 they expect pull‑through weighted lock volume of $5.75B–$7.75B, origination volume of $7.25B–$9.25B, pull‑through weighted GOS margin of 330–360 bps, and higher total expenses driven by volume, while noting the ramp of the Figure‑enabled 5x5 HELOC (no rate lock, funds in ~5–7 days) which should boost mix‑weighted margins and lower cost of production (HELOCs carry higher GOS margins but lower average balances and aren’t included in lock denominators).loanDepot Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.44B | 1.54B | 1.12B | 1.04B | 1.41B | 3.76B |
| Gross Profit | 1.18B | 1.36B | 787.45M | 731.09M | 1.00B | 3.45B |
| EBITDA | 64.49M | 229.43M | -195.73M | -222.88M | -627.01M | 724.67M |
| Net Income | -78.24M | -62.65M | -98.33M | -110.14M | -273.02M | 113.52M |
Balance Sheet | ||||||
| Total Assets | 7.25B | 6.86B | 6.34B | 6.15B | 6.61B | 11.81B |
| Cash, Cash Equivalents and Short-Term Investments | 357.19M | 337.23M | 421.58M | 660.71M | 863.96M | 419.57M |
| Total Debt | 5.17B | 5.04B | 5.43B | 4.98B | 5.13B | 9.52B |
| Total Liabilities | 6.91B | 6.47B | 5.84B | 5.45B | 5.69B | 10.18B |
| Stockholders Equity | 204.27M | 234.51M | 272.89M | 353.18M | 433.50M | 523.56M |
Cash Flow | ||||||
| Free Cash Flow | -728.26M | -734.61M | -891.81M | -194.83M | 4.42B | -1.52B |
| Operating Cash Flow | -700.11M | -707.51M | -865.42M | -174.22M | 4.46B | -1.47B |
| Investing Cash Flow | 10.08M | 14.51M | 495.05M | 165.66M | 667.76M | 296.78M |
| Financing Cash Flow | 601.49M | 566.80M | 151.74M | -226.09M | -4.77B | 1.30B |
loanDepot Technical Analysis
Negative
1.01
Price Trends
1.15
Negative
1.30
Negative
1.90
Negative
Market Momentum
-0.04
Negative
46.01
Neutral
58.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LDI, the sentiment is Negative. The current price of 1.01 is below the 20-day moving average (MA) of 1.06, below the 50-day MA of 1.15, and below the 200-day MA of 1.90, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 46.01 is Neutral, neither overbought nor oversold. The STOCH value of 58.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LDI.
loanDepot Risk Analysis
loanDepot disclosed 66 risk factors in its most recent earnings report. loanDepot reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
loanDepot Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | $3.92B | 9.97 | 12.03% | 1.42% | 29.40% | 0.67% | |
54 Neutral | $2.91B | 6.83 | 33.91% | 21.86% | 37.10% | ― | |
49 Neutral | $36.50B | 198.77 | 1.53% | ― | 73.75% | 269.75% | |
42 Neutral | $331.47M | -2.82 | -32.25% | ― | 14.29% | 21.88% |
* Financial Sector Average
LDI
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-45.31%
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loanDepot Corporate Events
Business Operations and StrategyFinancial Disclosures
loanDepot pivots to home equity, narrows quarterly loss
Positive
Aug 4, 2026
On August 4, 2026, loanDepot reported second-quarter 2026 results, highlighting a strategic pivot toward home equity lending that lifted loan origination volume 4% to $7.99 billion and unit volume 25% from the prior quarter. Revenue rose 18% to $3...
Business Operations and StrategyPrivate Placements and Financing
loanDepot Launches $100 Million At-The-Market Equity Program
Positive
May 15, 2026
On May 15, 2026, loanDepot, Inc. entered into an at-the-market sales agreement with BTIG, LLC that will allow the mortgage lender to sell up to $100 million of its Class A common stock over time. The company plans to use the net proceeds primarily...
Business Operations and StrategyFinancial Disclosures
loanDepot Reports Q1 Loss Amid Ongoing Digital Transformation
Negative
May 5, 2026
loanDepot reported first-quarter 2026 results on May 5, 2026, showing a 5% sequential decline in loan origination volume to $7.66 billion, but an increase in market share to 1.39%, as volatile interest rates and margin pressure dragged revenue dow...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.