loanDepot, Inc. (LDI)
NYSE:LDI
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loanDepot
(NYSE:LDI)
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Rating:46Neutral
Price Target:
$1.50
▼(-16.20% Downside)
Action:ReiteratedDate:05/06/26
LDI scores low primarily due to weak financial quality—high leverage and recent cash burn alongside continued net losses. Technicals add downside pressure with the stock trading below major moving averages. Offsetting this, the earnings call indicates improving operating trends and continued scale efforts, while valuation is difficult to assess with negative earnings and no stated dividend.
Positive Factors
Servicing Platform / Customer Retention
A 71% in-house servicing recapture supports recurring servicing fee income and stronger MSR economics. Over months this stabilizes revenue, improves lifetime customer value and cross-sell of ancillary services, and reduces reliance solely on originations for durable cash flow.
Negative Factors
Very High Leverage
Debt-to-equity near 13x is a persistent capital-structure weakness: it magnifies refinancing and interest-rate risk, limits strategic flexibility, and leaves little equity cushion to absorb operational swings, increasing the probability of funding stress over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Servicing Platform / Customer Retention
A 71% in-house servicing recapture supports recurring servicing fee income and stronger MSR economics. Over months this stabilizes revenue, improves lifetime customer value and cross-sell of ancillary services, and reduces reliance solely on originations for durable cash flow.
Read all positive factors
loanDepot (LDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$348.53M
Dividend YieldN/A
Average Volume (3M)2.52M
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue Growth15.92%
EPS Growth43.95%
CountryUS
Employees4,900
SectorFinancial
Sector Strength70
IndustryFinancial - Mortgages
Share Statistics
EPS (TTM)-0.29
Shares Outstanding230,814,910
10 Day Avg. Volume2,083,818
30 Day Avg. Volume2,519,471
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 Cap0.64
Enterprise Value/Revenue0.17
Enterprise Value/Gross Profit0.21
Enterprise Value/Ebitda-105.16
Forecast
1Y Price Target
$1.80Price Target Upside0.56% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)0.08
Revenue Forecast (FY)$1.39B
loanDepot Business Overview & Revenue Model
Company Description
loanDepot, Inc. engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. Th...
How the Company Makes Money
loanDepot primarily makes money from (1) mortgage loan originations and (2) mortgage loan servicing and related activities. For originations, it earns revenue through fees and premiums associated with originating and selling residential mortgages ...
loanDepot Key Performance Indicators (KPIs)
loanDepot Earnings Call Summary
Earnings Call Date:Mar 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Neutral
The call presented a mix of clear operational progress and near-term financial pressures. Positives include strong sequential origination growth (Q4 originations +23% q/q), pull-through lock volume growth (+4% q/q), a 71% servicing recapture rate, full-year 2025 adjusted revenue up 10% YoY, and a 31% YoY reduction in adjusted net loss driven by revenue growth and tight expense control. Management highlighted successful early AI/digital initiatives and provided constructive Q1 guidance. Offsetting these gains, Q4 showed a wider adjusted net loss vs. Q3, a modest q/q revenue decline, gain-on-sale margin compression (down 15 bps q/q), higher MSR amortization and growing personnel costs, along with a $122 million q/q cash draw. Management emphasized investments for scale and profitability but acknowledged near-term margin and expense headwinds. Overall, the operational and strategic improvements are meaningful but balanced by short-term profitability and margin challenges.Positive Updates
Highest Quarterly Originations Since 2022
Loan origination volume of $8.0 billion in Q4, a 23% increase from the prior quarter's $6.5 billion and within prior guidance of $6.5B–$8.5B.
Negative Updates
Wider Adjusted Net Loss in Q4
Adjusted net loss of $21 million in Q4 versus an adjusted net loss of $3 million in Q3 2025, driven by lower pull-through weighted gain on sale margin, higher MSR amortization and higher expenses.
Read all updates
Q4-2025 Updates
Positive
Negative
Highest Quarterly Originations Since 2022
Loan origination volume of $8.0 billion in Q4, a 23% increase from the prior quarter's $6.5 billion and within prior guidance of $6.5B–$8.5B.
Read all positive updates
Company Guidance
Management guided first-quarter 2026 pull-through weighted lock volume of $7.75–$8.75 billion, origination volume of $6.75–$7.75 billion and a pull-through weighted gain-on-sale margin of 270–300 basis points, and said total expenses should increase (driven by personnel and G&A) partly offset by lower volume-related costs. This follows fourth-quarter results of $7.3 billion pull-through weighted lock volume (within prior $6–$8 billion guidance), $8.0 billion origination volume (vs prior $6.5–$8.5 billion guidance), a 324 bp gain-on-sale margin (high end of prior 300–325 bp), adjusted total revenue of $316 million (vs $325M in Q3), an adjusted net loss of $21 million (vs $3M loss in Q3), servicing fee income of $113 million, total expenses up $8 million (+3% QoQ), and $337 million cash (down $122M QoQ). Management noted the guidance reflects market volatility, seasonality, housing affordability/availability and mortgage rates, and is consistent with a strategy targeting larger average refinance loan balances.loanDepot Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.54B | 1.12B | 1.04B | 1.41B | 3.76B |
| Gross Profit | 1.36B | 787.45M | 731.09M | 1.00B | 3.45B |
| EBITDA | 229.43M | -195.73M | -222.88M | -627.01M | 724.67M |
| Net Income | -62.65M | -98.33M | -110.14M | -273.02M | 113.52M |
Balance Sheet | |||||
| Total Assets | 6.86B | 6.34B | 6.15B | 6.61B | 11.81B |
| Cash, Cash Equivalents and Short-Term Investments | 337.23M | 421.58M | 660.71M | 863.96M | 419.57M |
| Total Debt | 5.04B | 5.43B | 4.98B | 5.13B | 9.52B |
| Total Liabilities | 6.47B | 5.84B | 5.45B | 5.69B | 10.18B |
| Stockholders Equity | 234.51M | 272.89M | 353.18M | 433.50M | 523.56M |
Cash Flow | |||||
| Free Cash Flow | -734.61M | -891.81M | -194.83M | 4.42B | -1.52B |
| Operating Cash Flow | -707.51M | -865.42M | -174.22M | 4.46B | -1.47B |
| Investing Cash Flow | 14.51M | 495.05M | 165.66M | 667.76M | 296.78M |
| Financing Cash Flow | 566.80M | 151.74M | -226.09M | -4.77B | 1.30B |
loanDepot Technical Analysis
Neutral
1.79
Price Trends
1.71
Positive
2.11
Negative
2.34
Negative
Market Momentum
-0.03
Negative
65.93
Neutral
84.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LDI, the sentiment is Neutral. The current price of 1.79 is above the 20-day moving average (MA) of 1.45, above the 50-day MA of 1.71, and below the 200-day MA of 2.34, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 65.93 is Neutral, neither overbought nor oversold. The STOCH value of 84.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
54 Neutral | $4.69B | 16.04 | 12.18% | 0.90% | 8.31% | 58.79% | |
52 Neutral | $39.51B | 201.15 | -0.68% | ― | 47.48% | -156.32% | |
47 Neutral | $5.77B | 14.49 | 15.25% | 8.64% | 32.51% | -15.92% | |
46 Neutral | $348.53M | -5.15 | -24.39% | ― | 15.92% | 43.95% |
* Financial Sector Average
LDI
loanDepot
1.51
0.49
48.04%
PFSI
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89.89
-4.83
-5.09%
UWMC
UWM Holding
3.54
-0.18
-4.92%
RKT
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14.01
2.48
21.51%
loanDepot Corporate Events
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...
Business Operations and StrategyPrivate Placements and Financing
loanDepot Expands Mortgage Funding with New Securitization Facility
Positive
Apr 30, 2026
On April 27, 2026, Mello Warehouse Securitization Trust 2026-1 and loanDepot.com, LLC entered into an indenture with U.S. Bank entities under which the trust issued $500 million of notes backed by a revolving warehouse line secured by newly origin...
Business Operations and StrategyFinancial Disclosures
loanDepot reports 2025 results with higher revenue, lower losses
Positive
Mar 10, 2026
loanDepot reported its year-end and fourth-quarter 2025 results on March 10, 2026, highlighting a 12% rise in full-year revenue to $1.19 billion and a 10% increase in adjusted revenue to $1.21 billion as higher pull-through weighted lock volumes a...
Business Operations and Strategy
loanDepot Simplifies Capital Structure With Share Class Conversion
Neutral
Feb 12, 2026
On February 11, 2026, loanDepot, Inc. completed the automatic conversion of all outstanding shares of its Class C and Class D common stock into Class B and Class A common stock, respectively, pursuant to its Amended and Restated Certificate of Inc...
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.