TREELendingTree, Inc.
Loan Brokers
- Revenue
- $1.1B
- 24% YoY
- Operating margin
- 5.8%
- 17% YoY
- EBITDA
- $81M
- 29% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 3.4×
- $276M net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired48% of net incomeCash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired42% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $985M | $673M | $900M | $1.1B | 24% |
| Operating income | $8M | −$33M | −$41M | $45M | $65M | 45% |
| Net income | $69M | −$188M | −$122M | −$42M | $151M | 460% |
| Operating cash flow | $131M | $43M | $68M | $62M | $73M | 17% |
| Capex | $35M | $11M | $13M | $11M | $12M | 11% |
| Stock-based comp | $69M | $60M | $40M | $29M | $29M | 3.1% |
| Buybacks | $40M | $43M | $0 | $0 | — |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 19 | 138 |
| FY2024 | — | — | 13 | 158 |
| FY2023 | — | — | 10 | 119 |
| FY2022 | — | — | 7 | 82 |
| FY2021 | — | — | 40 | 134 |