Intrinsic value of LendingClub - LC

Previous Close

$3.95

  Intrinsic Value

$0.56

stock screener

  Rating & Target

str. sell

-86%

Previous close

$3.95

 
Intrinsic value

$0.56

 
Up/down potential

-86%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as LC.

We calculate the intrinsic value of LC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  21.33
  3.50
  3.65
  3.78
  3.91
  4.02
  4.11
  4.20
  4.28
  4.35
  4.42
  4.48
  4.53
  4.58
  4.62
  4.66
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
Revenue, $m
  1,189
  1,231
  1,276
  1,324
  1,376
  1,431
  1,490
  1,552
  1,619
  1,689
  1,764
  1,843
  1,926
  2,014
  2,107
  2,206
  2,309
  2,418
  2,533
  2,654
  2,781
  2,915
  3,056
  3,204
  3,360
  3,524
  3,697
  3,878
  4,069
  4,269
  4,479
Variable operating expenses, $m
 
  1,233
  1,278
  1,326
  1,378
  1,433
  1,492
  1,554
  1,621
  1,691
  1,766
  1,841
  1,924
  2,012
  2,105
  2,203
  2,307
  2,416
  2,530
  2,651
  2,778
  2,912
  3,053
  3,201
  3,357
  3,521
  3,693
  3,874
  4,064
  4,265
  4,475
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,339
  1,233
  1,278
  1,326
  1,378
  1,433
  1,492
  1,554
  1,621
  1,691
  1,766
  1,841
  1,924
  2,012
  2,105
  2,203
  2,307
  2,416
  2,530
  2,651
  2,778
  2,912
  3,053
  3,201
  3,357
  3,521
  3,693
  3,874
  4,064
  4,265
  4,475
Operating income, $m
  -150
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
EBITDA, $m
  -120
  21
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  33
  35
  37
  38
  40
  42
  44
  46
  48
  51
  53
  56
  58
  61
  64
  67
  71
  74
  78
Interest expense (income), $m
  685
  665
  682
  708
  736
  767
  799
  834
  871
  910
  951
  995
  1,041
  1,090
  1,142
  1,197
  1,254
  1,315
  1,379
  1,447
  1,518
  1,592
  1,671
  1,754
  1,841
  1,933
  2,029
  2,130
  2,237
  2,349
  2,466
Earnings before tax, $m
  -150
  -668
  -684
  -710
  -739
  -769
  -801
  -836
  -873
  -912
  -953
  -993
  -1,039
  -1,088
  -1,140
  -1,194
  -1,252
  -1,313
  -1,377
  -1,444
  -1,515
  -1,589
  -1,668
  -1,751
  -1,838
  -1,929
  -2,025
  -2,126
  -2,232
  -2,344
  -2,462
Tax expense, $m
  -4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -146
  -668
  -684
  -710
  -739
  -769
  -801
  -836
  -873
  -912
  -953
  -993
  -1,039
  -1,088
  -1,140
  -1,194
  -1,252
  -1,313
  -1,377
  -1,444
  -1,515
  -1,589
  -1,668
  -1,751
  -1,838
  -1,929
  -2,025
  -2,126
  -2,232
  -2,344
  -2,462

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  516
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,563
  5,214
  5,405
  5,609
  5,829
  6,063
  6,312
  6,577
  6,859
  7,158
  7,474
  7,809
  8,162
  8,536
  8,930
  9,346
  9,784
  10,246
  10,733
  11,245
  11,785
  12,353
  12,950
  13,578
  14,239
  14,934
  15,665
  16,433
  17,240
  18,089
  18,980
Adjusted assets (=assets-cash), $m
  5,047
  5,214
  5,405
  5,609
  5,829
  6,063
  6,312
  6,577
  6,859
  7,158
  7,474
  7,809
  8,162
  8,536
  8,930
  9,346
  9,784
  10,246
  10,733
  11,245
  11,785
  12,353
  12,950
  13,578
  14,239
  14,934
  15,665
  16,433
  17,240
  18,089
  18,980
Revenue / Adjusted assets
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
Average production assets, $m
  101
  105
  108
  113
  117
  122
  127
  132
  138
  144
  150
  157
  164
  171
  179
  187
  196
  206
  215
  226
  236
  248
  260
  272
  286
  300
  314
  330
  346
  363
  381
Working capital, $m
  0
  -534
  -554
  -575
  -597
  -621
  -646
  -674
  -703
  -733
  -766
  -800
  -836
  -874
  -915
  -957
  -1,002
  -1,049
  -1,099
  -1,152
  -1,207
  -1,265
  -1,326
  -1,391
  -1,458
  -1,530
  -1,604
  -1,683
  -1,766
  -1,853
  -1,944
Total debt, $m
  4,321
  4,427
  4,598
  4,782
  4,980
  5,190
  5,415
  5,654
  5,907
  6,176
  6,461
  6,762
  7,080
  7,416
  7,771
  8,145
  8,540
  8,956
  9,394
  9,855
  10,340
  10,851
  11,389
  11,955
  12,549
  13,175
  13,832
  14,524
  15,250
  16,014
  16,816
Total liabilities, $m
  4,587
  4,693
  4,864
  5,048
  5,246
  5,456
  5,681
  5,920
  6,173
  6,442
  6,727
  7,028
  7,346
  7,682
  8,037
  8,411
  8,806
  9,222
  9,660
  10,121
  10,606
  11,117
  11,655
  12,221
  12,815
  13,441
  14,098
  14,790
  15,516
  16,280
  17,082
Total equity, $m
  976
  521
  540
  561
  583
  606
  631
  658
  686
  716
  747
  781
  816
  854
  893
  935
  978
  1,025
  1,073
  1,125
  1,178
  1,235
  1,295
  1,358
  1,424
  1,493
  1,566
  1,643
  1,724
  1,809
  1,898
Total liabilities and equity, $m
  5,563
  5,214
  5,404
  5,609
  5,829
  6,062
  6,312
  6,578
  6,859
  7,158
  7,474
  7,809
  8,162
  8,536
  8,930
  9,346
  9,784
  10,247
  10,733
  11,246
  11,784
  12,352
  12,950
  13,579
  14,239
  14,934
  15,664
  16,433
  17,240
  18,089
  18,980
Debt-to-equity ratio
  4.427
  8.490
  8.510
  8.530
  8.540
  8.560
  8.580
  8.600
  8.610
  8.630
  8.640
  8.660
  8.670
  8.690
  8.700
  8.720
  8.730
  8.740
  8.750
  8.760
  8.770
  8.780
  8.790
  8.800
  8.810
  8.820
  8.830
  8.840
  8.850
  8.850
  8.860
Adjusted equity ratio
  0.091
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -146
  -668
  -684
  -710
  -739
  -769
  -801
  -836
  -873
  -912
  -953
  -993
  -1,039
  -1,088
  -1,140
  -1,194
  -1,252
  -1,313
  -1,377
  -1,444
  -1,515
  -1,589
  -1,668
  -1,751
  -1,838
  -1,929
  -2,025
  -2,126
  -2,232
  -2,344
  -2,462
Depreciation, amort., depletion, $m
  30
  24
  24
  25
  26
  27
  28
  29
  30
  31
  32
  30
  31
  33
  34
  36
  38
  40
  41
  43
  45
  48
  50
  52
  55
  58
  60
  63
  67
  70
  73
Funds from operations, $m
  25
  -644
  -660
  -685
  -713
  -742
  -773
  -807
  -843
  -880
  -920
  -963
  -1,008
  -1,055
  -1,105
  -1,158
  -1,214
  -1,273
  -1,335
  -1,401
  -1,469
  -1,542
  -1,618
  -1,698
  -1,783
  -1,871
  -1,965
  -2,063
  -2,166
  -2,274
  -2,388
Change in working capital, $m
  24
  -18
  -19
  -21
  -22
  -24
  -26
  -27
  -29
  -31
  -32
  -34
  -36
  -38
  -40
  -43
  -45
  -47
  -50
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
  -79
  -83
  -87
  -91
Cash from operations, $m
  1
  -626
  -640
  -664
  -690
  -718
  -748
  -780
  -814
  -850
  -888
  -929
  -972
  -1,017
  -1,065
  -1,116
  -1,169
  -1,226
  -1,285
  -1,348
  -1,414
  -1,484
  -1,557
  -1,634
  -1,715
  -1,800
  -1,890
  -1,984
  -2,083
  -2,187
  -2,297
Maintenance CAPEX, $m
  0
  -19
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -31
  -33
  -34
  -36
  -38
  -40
  -41
  -43
  -45
  -48
  -50
  -52
  -55
  -58
  -60
  -63
  -67
  -70
New CAPEX, $m
  -52
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
Cash from investing activities, $m
  -423
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -34
  -36
  -37
  -38
  -41
  -42
  -45
  -47
  -50
  -51
  -54
  -56
  -60
  -63
  -65
  -69
  -73
  -75
  -79
  -84
  -88
Free cash flow, $m
  -422
  -649
  -664
  -689
  -716
  -745
  -776
  -809
  -845
  -882
  -922
  -964
  -1,009
  -1,056
  -1,106
  -1,159
  -1,214
  -1,273
  -1,335
  -1,400
  -1,468
  -1,540
  -1,616
  -1,696
  -1,781
  -1,869
  -1,962
  -2,060
  -2,163
  -2,271
  -2,385
Issuance/(repayment) of debt, $m
  263
  106
  171
  184
  197
  211
  224
  239
  254
  269
  285
  301
  318
  336
  355
  374
  395
  416
  438
  461
  486
  511
  538
  566
  595
  625
  658
  691
  727
  764
  802
Issuance/(repurchase) of shares, $m
  -1
  729
  703
  731
  761
  792
  826
  862
  901
  941
  984
  1,026
  1,075
  1,126
  1,179
  1,236
  1,296
  1,359
  1,425
  1,495
  1,569
  1,646
  1,728
  1,813
  1,904
  1,998
  2,098
  2,203
  2,313
  2,429
  2,551
Cash from financing (excl. dividends), $m  
  314
  835
  874
  915
  958
  1,003
  1,050
  1,101
  1,155
  1,210
  1,269
  1,327
  1,393
  1,462
  1,534
  1,610
  1,691
  1,775
  1,863
  1,956
  2,055
  2,157
  2,266
  2,379
  2,499
  2,623
  2,756
  2,894
  3,040
  3,193
  3,353
Total cash flow (excl. dividends), $m
  -108
  186
  210
  226
  242
  258
  275
  292
  310
  328
  347
  363
  384
  406
  428
  452
  476
  502
  529
  557
  586
  617
  649
  683
  718
  755
  794
  834
  877
  922
  969
Retained Cash Flow (-), $m
  66
  -729
  -703
  -731
  -761
  -792
  -826
  -862
  -901
  -941
  -984
  -1,026
  -1,075
  -1,126
  -1,179
  -1,236
  -1,296
  -1,359
  -1,425
  -1,495
  -1,569
  -1,646
  -1,728
  -1,813
  -1,904
  -1,998
  -2,098
  -2,203
  -2,313
  -2,429
  -2,551
Prev. year cash balance distribution, $m
 
  516
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -27
  -493
  -505
  -519
  -535
  -552
  -571
  -591
  -613
  -637
  -663
  -691
  -720
  -751
  -784
  -820
  -857
  -897
  -938
  -983
  -1,029
  -1,079
  -1,131
  -1,186
  -1,244
  -1,305
  -1,369
  -1,436
  -1,507
  -1,582
Discount rate, %
 
  12.30
  12.92
  13.56
  14.24
  14.95
  15.70
  16.48
  17.31
  18.17
  19.08
  20.04
  21.04
  22.09
  23.19
  24.35
  25.57
  26.85
  28.19
  29.60
  31.08
  32.64
  34.27
  35.98
  37.78
  39.67
  41.65
  43.73
  45.92
  48.22
  50.63
PV of cash for distribution, $m
 
  -24
  -386
  -345
  -305
  -266
  -230
  -196
  -165
  -136
  -111
  -89
  -70
  -54
  -41
  -30
  -21
  -15
  -10
  -7
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  51.7
  28.8
  16.0
  8.9
  4.9
  2.7
  1.5
  0.8
  0.5
  0.3
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

LendingClub Corporation provides online marketplace to connect borrowers and investors. Consumers and small business owners borrow through Lending Club. Investors use Lending Club to earn risk-adjusted returns from an asset class that has been closed to many investors and only available on a limited basis to large institutional investors. Its technology automates aspects of operations, including the borrower application process, data gathering, credit decisioning and scoring, loan funding, investing and servicing, regulatory compliance and fraud detection. Its platform offers analytical tools and data to enable investors to make decisions and assess their portfolios. Its technology platform has allowed it to expand its offerings from personal loans to include small business loans, and to expand investor classes from individuals to institutions and create various investment vehicles.

FINANCIAL RATIOS  of  LendingClub (LC)

Valuation Ratios
P/E Ratio -10.8
Price to Sales 1.3
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 1572
Price to Free Cash Flow -30.8
Growth Rates
Sales Growth Rate 21.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate 39.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 442.7%
Total Debt to Equity 442.7%
Interest Coverage 1
Management Effectiveness
Return On Assets 9.2%
Ret/ On Assets - 3 Yr. Avg. 15.9%
Return On Total Capital -2.7%
Ret/ On T. Cap. - 3 Yr. Avg. -1.3%
Return On Equity -14.5%
Return On Equity - 3 Yr. Avg. -7.1%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 42.1%
Gross Margin - 3 Yr. Avg. 41.1%
EBITDA Margin 47.5%
EBITDA Margin - 3 Yr. Avg. 53.8%
Operating Margin -12.6%
Oper. Margin - 3 Yr. Avg. -6.1%
Pre-Tax Margin -12.6%
Pre-Tax Margin - 3 Yr. Avg. -6.2%
Net Profit Margin -12.3%
Net Profit Margin - 3 Yr. Avg. -6.2%
Effective Tax Rate 2.7%
Eff/ Tax Rate - 3 Yr. Avg. -50.2%
Payout Ratio 0%

LC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LC stock intrinsic value calculation we used $1189 million for the last fiscal year's total revenue generated by LendingClub. The default revenue input number comes from 2016 income statement of LendingClub. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LC stock valuation model: a) initial revenue growth rate of 3.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 12.3%, whose default value for LC is calculated based on our internal credit rating of LendingClub, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of LendingClub.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LC stock the variable cost ratio is equal to 100.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for LC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 15.4% for LendingClub.

Corporate tax rate of 27% is the nominal tax rate for LendingClub. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LC are equal to 8.5%.

Life of production assets of 5.2 years is the average useful life of capital assets used in LendingClub operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LC is equal to -43.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $976 million for LendingClub - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 418.886 million for LendingClub is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of LendingClub at the current share price and the inputted number of shares is $1.7 billion.

RELATED COMPANIES Price Int.Val. Rating
AGM Federal Agricu 81.58 341.12  str.buy
CYS CYS Investment 6.70 24.04  str.buy
ARI Apollo Commerc 18.69 23.98  buy
NYMT New York Mortg 5.72 17.57  str.buy
CIM Chimera Invest 17.64 33.76  str.buy

COMPANY NEWS

▶ Will LendingClub Turn a Corner in 2018?   [Feb-16-18 02:50PM  GuruFocus.com]
▶ Why LendingClub Stock Lost 11% in January   [02:23PM  Motley Fool]
▶ Tony Mitchell Sells Lending Club, Buys Twitter   [Jan-25-18 03:23PM  Forbes]
▶ 3 Turnaround Stocks to Consider in 2018   [Jan-03-18 09:19PM  Motley Fool]
▶ Digging into Squares Bitcoin Venture   [09:03AM  Market Realist]
▶ 3 Top Stocks on Sale This Quarter   [Dec-14-17 12:11PM  Motley Fool]
▶ Cryptocurrencies Trying to Shoulder Out Gold   [Dec-08-17 07:22AM  InvestorPlace]
▶ Will Lending Club Turn a Corner?   [Nov-29-17 06:15PM  GuruFocus.com]
▶ [$$] Another Blow to Online Lenders   [Nov-09-17 12:03AM  The Wall Street Journal]
▶ [$$] A Setback For Online Lenders   [Nov-08-17 08:58PM  The Wall Street Journal]
▶ Lending Club: Not So Brilliant After All?   [02:54PM  Barrons.com]
▶ [$$] Another Blow to Online Lenders   [02:37PM  The Wall Street Journal]
▶ LendingClub reports 3Q loss   [Nov-07-17 05:25PM  Associated Press]
▶ Heres Why Square Inc (SQ) Stock Is Worrying Regional Banks   [Oct-27-17 07:24AM  InvestorPlace]
▶ [$$] LendingClub Closes Chapter on Fintech Funds   [Oct-25-17 03:35PM  The Wall Street Journal]
▶ The options market says buy these two stocks   [Oct-19-17 01:09PM  CNBC Videos]
▶ Qudian IPO: What Investors Need to Know   [Oct-13-17 01:34PM  Motley Fool]
▶ ETFs with exposure to LendingClub Corp. : October 9, 2017   [Oct-09-17 11:44AM  Capital Cube]
▶ Square (SQ) Stock Is Dangerous to Your Wealth   [Oct-05-17 11:57AM  InvestorPlace]
▶ 3 Stocks That Could Double Your Money   [Sep-27-17 08:03AM  Motley Fool]
▶ 3 Stocks With eBay-like Return Potential   [Sep-21-17 06:34PM  Motley Fool]
▶ Why I Sold These 2 Stocks in September   [Sep-20-17 04:30PM  Motley Fool]
Financial statements of LC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.