Intrinsic value of LendingTree - TREE

Previous Close

$297.05

  Intrinsic Value

$1,253

stock screener

  Rating & Target

str. buy

+322%

Previous close

$297.05

 
Intrinsic value

$1,253

 
Up/down potential

+322%

 
Rating

str. buy

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

We calculate the intrinsic value of TREE 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

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.6

 

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, %
  51.18
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  384
  614
  949
  1,420
  2,060
  2,906
  3,995
  5,363
  7,041
  9,061
  11,444
  14,211
  17,375
  20,942
  24,917
  29,298
  34,081
  39,258
  44,822
  50,763
  57,073
  63,743
  70,766
  78,138
  85,853
  93,913
  102,316
  111,068
  120,174
  129,641
  139,482
Variable operating expenses, $m
 
  497
  765
  1,142
  1,654
  2,332
  3,203
  4,298
  5,642
  7,258
  9,166
  11,375
  13,907
  16,763
  19,944
  23,451
  27,279
  31,423
  35,876
  40,632
  45,682
  51,021
  56,643
  62,543
  68,719
  75,169
  81,896
  88,901
  96,189
  103,767
  111,644
Fixed operating expenses, $m
 
  19
  20
  20
  21
  21
  22
  23
  23
  24
  24
  25
  26
  26
  27
  28
  28
  29
  30
  30
  31
  32
  33
  34
  34
  35
  36
  37
  38
  39
  40
Total operating expenses, $m
  332
  516
  785
  1,162
  1,675
  2,353
  3,225
  4,321
  5,665
  7,282
  9,190
  11,400
  13,933
  16,789
  19,971
  23,479
  27,307
  31,452
  35,906
  40,662
  45,713
  51,053
  56,676
  62,577
  68,753
  75,204
  81,932
  88,938
  96,227
  103,806
  111,684
Operating income, $m
  52
  98
  164
  257
  385
  553
  770
  1,042
  1,377
  1,779
  2,254
  2,811
  3,442
  4,154
  4,946
  5,820
  6,774
  7,806
  8,916
  10,101
  11,360
  12,690
  14,091
  15,561
  17,101
  18,708
  20,385
  22,130
  23,947
  25,835
  27,798
EBITDA, $m
  58
  110
  180
  278
  412
  589
  818
  1,104
  1,457
  1,880
  2,381
  2,962
  3,626
  4,375
  5,210
  6,130
  7,134
  8,222
  9,390
  10,638
  11,963
  13,364
  14,840
  16,388
  18,009
  19,701
  21,467
  23,305
  25,218
  27,207
  29,274
Interest expense (income), $m
  0
  0
  2
  5
  9
  14
  21
  30
  42
  56
  73
  93
  116
  143
  173
  206
  243
  283
  326
  373
  423
  476
  532
  591
  653
  718
  785
  856
  929
  1,006
  1,085
Earnings before tax, $m
  52
  98
  162
  253
  376
  539
  749
  1,012
  1,335
  1,723
  2,181
  2,719
  3,326
  4,011
  4,774
  5,614
  6,531
  7,523
  8,590
  9,728
  10,937
  12,214
  13,559
  14,971
  16,448
  17,991
  19,599
  21,275
  23,017
  24,830
  26,713
Tax expense, $m
  21
  26
  44
  68
  101
  145
  202
  273
  360
  465
  589
  734
  898
  1,083
  1,289
  1,516
  1,763
  2,031
  2,319
  2,627
  2,953
  3,298
  3,661
  4,042
  4,441
  4,857
  5,292
  5,744
  6,215
  6,704
  7,213
Net income, $m
  27
  71
  118
  184
  274
  393
  546
  739
  974
  1,258
  1,592
  1,985
  2,428
  2,928
  3,485
  4,098
  4,768
  5,492
  6,271
  7,101
  7,984
  8,916
  9,898
  10,928
  12,007
  13,133
  14,307
  15,530
  16,803
  18,126
  19,501

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  91
  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
  323
  371
  574
  858
  1,245
  1,756
  2,414
  3,240
  4,255
  5,475
  6,915
  8,587
  10,498
  12,654
  15,056
  17,703
  20,593
  23,721
  27,083
  30,673
  34,485
  38,516
  42,759
  47,213
  51,875
  56,745
  61,823
  67,111
  72,612
  78,333
  84,279
Adjusted assets (=assets-cash), $m
  232
  371
  574
  858
  1,245
  1,756
  2,414
  3,240
  4,255
  5,475
  6,915
  8,587
  10,498
  12,654
  15,056
  17,703
  20,593
  23,721
  27,083
  30,673
  34,485
  38,516
  42,759
  47,213
  51,875
  56,745
  61,823
  67,111
  72,612
  78,333
  84,279
Revenue / Adjusted assets
  1.655
  1.655
  1.653
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
  1.655
Average production assets, $m
  64
  101
  157
  234
  340
  479
  659
  885
  1,162
  1,495
  1,888
  2,345
  2,867
  3,455
  4,111
  4,834
  5,623
  6,478
  7,396
  8,376
  9,417
  10,518
  11,676
  12,893
  14,166
  15,496
  16,882
  18,326
  19,829
  21,391
  23,015
Working capital, $m
  74
  -27
  -42
  -62
  -91
  -128
  -176
  -236
  -310
  -399
  -504
  -625
  -764
  -921
  -1,096
  -1,289
  -1,500
  -1,727
  -1,972
  -2,234
  -2,511
  -2,805
  -3,114
  -3,438
  -3,778
  -4,132
  -4,502
  -4,887
  -5,288
  -5,704
  -6,137
Total debt, $m
  0
  55
  136
  249
  402
  605
  866
  1,194
  1,597
  2,081
  2,653
  3,317
  4,076
  4,932
  5,885
  6,936
  8,083
  9,325
  10,660
  12,085
  13,599
  15,199
  16,883
  18,652
  20,502
  22,436
  24,452
  26,551
  28,735
  31,006
  33,367
Total liabilities, $m
  92
  147
  228
  341
  494
  697
  958
  1,286
  1,689
  2,173
  2,745
  3,409
  4,168
  5,024
  5,977
  7,028
  8,175
  9,417
  10,752
  12,177
  13,691
  15,291
  16,975
  18,744
  20,594
  22,528
  24,544
  26,643
  28,827
  31,098
  33,459
Total equity, $m
  231
  224
  346
  517
  750
  1,059
  1,456
  1,954
  2,566
  3,301
  4,170
  5,178
  6,330
  7,630
  9,079
  10,675
  12,417
  14,304
  16,331
  18,496
  20,795
  23,225
  25,784
  28,469
  31,281
  34,217
  37,279
  40,468
  43,785
  47,235
  50,820
Total liabilities and equity, $m
  323
  371
  574
  858
  1,244
  1,756
  2,414
  3,240
  4,255
  5,474
  6,915
  8,587
  10,498
  12,654
  15,056
  17,703
  20,592
  23,721
  27,083
  30,673
  34,486
  38,516
  42,759
  47,213
  51,875
  56,745
  61,823
  67,111
  72,612
  78,333
  84,279
Debt-to-equity ratio
  0.000
  0.250
  0.390
  0.480
  0.540
  0.570
  0.600
  0.610
  0.620
  0.630
  0.640
  0.640
  0.640
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.650
  0.660
  0.660
  0.660
  0.660
  0.660
  0.660
  0.660
  0.660
Adjusted equity ratio
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603
  0.603

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  27
  71
  118
  184
  274
  393
  546
  739
  974
  1,258
  1,592
  1,985
  2,428
  2,928
  3,485
  4,098
  4,768
  5,492
  6,271
  7,101
  7,984
  8,916
  9,898
  10,928
  12,007
  13,133
  14,307
  15,530
  16,803
  18,126
  19,501
Depreciation, amort., depletion, $m
  6
  12
  16
  21
  27
  36
  48
  62
  80
  101
  127
  150
  184
  222
  264
  310
  360
  415
  474
  537
  604
  674
  748
  826
  908
  993
  1,082
  1,175
  1,271
  1,371
  1,475
Funds from operations, $m
  57
  83
  134
  205
  302
  430
  594
  801
  1,054
  1,359
  1,719
  2,135
  2,612
  3,149
  3,748
  4,408
  5,128
  5,907
  6,745
  7,638
  8,587
  9,591
  10,647
  11,755
  12,915
  14,126
  15,390
  16,705
  18,074
  19,497
  20,976
Change in working capital, $m
  9
  -10
  -15
  -21
  -28
  -37
  -48
  -60
  -74
  -89
  -105
  -122
  -139
  -157
  -175
  -193
  -210
  -228
  -245
  -261
  -278
  -293
  -309
  -324
  -339
  -355
  -370
  -385
  -401
  -417
  -433
Cash from operations, $m
  48
  93
  149
  226
  330
  467
  642
  861
  1,128
  1,448
  1,824
  2,257
  2,751
  3,306
  3,923
  4,601
  5,339
  6,135
  6,989
  7,900
  8,865
  9,884
  10,956
  12,079
  13,254
  14,481
  15,759
  17,090
  18,474
  19,913
  21,409
Maintenance CAPEX, $m
  0
  -4
  -6
  -10
  -15
  -22
  -31
  -42
  -57
  -74
  -96
  -121
  -150
  -184
  -222
  -264
  -310
  -360
  -415
  -474
  -537
  -604
  -674
  -748
  -826
  -908
  -993
  -1,082
  -1,175
  -1,271
  -1,371
New CAPEX, $m
  -34
  -38
  -55
  -78
  -106
  -140
  -180
  -226
  -277
  -333
  -393
  -457
  -522
  -589
  -656
  -723
  -789
  -854
  -918
  -980
  -1,041
  -1,101
  -1,159
  -1,216
  -1,273
  -1,330
  -1,387
  -1,444
  -1,502
  -1,562
  -1,624
Cash from investing activities, $m
  -117
  -42
  -61
  -88
  -121
  -162
  -211
  -268
  -334
  -407
  -489
  -578
  -672
  -773
  -878
  -987
  -1,099
  -1,214
  -1,333
  -1,454
  -1,578
  -1,705
  -1,833
  -1,964
  -2,099
  -2,238
  -2,380
  -2,526
  -2,677
  -2,833
  -2,995
Free cash flow, $m
  -69
  52
  87
  138
  209
  305
  432
  593
  795
  1,041
  1,335
  1,679
  2,079
  2,534
  3,046
  3,614
  4,240
  4,920
  5,656
  6,445
  7,287
  8,180
  9,123
  10,115
  11,155
  12,243
  13,380
  14,564
  15,797
  17,080
  18,414
Issuance/(repayment) of debt, $m
  0
  55
  80
  113
  154
  203
  261
  328
  403
  484
  572
  664
  759
  856
  953
  1,051
  1,147
  1,242
  1,335
  1,425
  1,514
  1,600
  1,685
  1,768
  1,851
  1,933
  2,016
  2,099
  2,184
  2,271
  2,361
Issuance/(repurchase) of shares, $m
  -53
  13
  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
Cash from financing (excl. dividends), $m  
  -47
  68
  84
  113
  154
  203
  261
  328
  403
  484
  572
  664
  759
  856
  953
  1,051
  1,147
  1,242
  1,335
  1,425
  1,514
  1,600
  1,685
  1,768
  1,851
  1,933
  2,016
  2,099
  2,184
  2,271
  2,361
Total cash flow (excl. dividends), $m
  -116
  120
  171
  251
  363
  508
  693
  921
  1,197
  1,525
  1,907
  2,343
  2,838
  3,390
  3,999
  4,665
  5,387
  6,162
  6,991
  7,871
  8,801
  9,780
  10,807
  11,883
  13,006
  14,176
  15,395
  16,663
  17,982
  19,351
  20,775
Retained Cash Flow (-), $m
  10
  -84
  -122
  -171
  -233
  -308
  -397
  -498
  -612
  -736
  -868
  -1,008
  -1,153
  -1,300
  -1,448
  -1,596
  -1,743
  -1,886
  -2,027
  -2,165
  -2,299
  -2,430
  -2,559
  -2,686
  -2,811
  -2,936
  -3,062
  -3,189
  -3,318
  -3,450
  -3,585
Prev. year cash balance distribution, $m
 
  91
  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
 
  127
  49
  79
  130
  200
  296
  423
  586
  789
  1,038
  1,335
  1,685
  2,090
  2,551
  3,069
  3,644
  4,276
  4,964
  5,706
  6,502
  7,350
  8,248
  9,197
  10,194
  11,240
  12,333
  13,475
  14,664
  15,902
  17,189
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  121
  45
  69
  107
  155
  215
  286
  366
  453
  544
  634
  719
  795
  856
  901
  926
  930
  914
  879
  826
  760
  684
  603
  519
  437
  360
  289
  227
  174
  129
Current shareholders' claim on cash, %
  100
  99.1
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9
  98.9

LendingTree, Inc. (LendingTree) is engaged in operating an online loan marketplace for consumers seeking loans and other credit-based offerings. The Company's online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, personal loans, student loans, small business loans and other related offerings. In addition, the Company offers tools and resources, including free credit scores that facilitate comparison shopping for these loans and other credit-based offerings. The Company offers its products in categories, including mortgage products and non-mortgage products. Its mortgage products category includes its purchase and refinance products. Its non-mortgage products include lending products and other products.

FINANCIAL RATIOS  of  LendingTree (TREE)

Valuation Ratios
P/E Ratio 129.7
Price to Sales 9.1
Price to Book 15.2
Price to Tangible Book
Price to Cash Flow 73
Price to Free Cash Flow 250.2
Growth Rates
Sales Growth Rate 51.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 385.7%
Cap. Spend. - 3 Yr. Gr. Rate 62.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 8.7%
Ret/ On Assets - 3 Yr. Avg. 12.3%
Return On Total Capital 11.4%
Ret/ On T. Cap. - 3 Yr. Avg. 16.6%
Return On Equity 11.4%
Return On Equity - 3 Yr. Avg. 16.6%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 96.6%
Gross Margin - 3 Yr. Avg. 96.1%
EBITDA Margin 15.1%
EBITDA Margin - 3 Yr. Avg. 9.5%
Operating Margin 13.5%
Oper. Margin - 3 Yr. Avg. 8%
Pre-Tax Margin 13.5%
Pre-Tax Margin - 3 Yr. Avg. 8%
Net Profit Margin 7%
Net Profit Margin - 3 Yr. Avg. 10.4%
Effective Tax Rate 40.4%
Eff/ Tax Rate - 3 Yr. Avg. 19.4%
Payout Ratio 0%

TREE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TREE stock intrinsic value calculation we used $384 million for the last fiscal year's total revenue generated by LendingTree. The default revenue input number comes from 2016 income statement of LendingTree. 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 TREE stock valuation model: a) initial revenue growth rate of 60% 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 4.3%, whose default value for TREE is calculated based on our internal credit rating of LendingTree, 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 LendingTree.
    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 TREE stock the variable cost ratio is equal to 81.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $19 million in the base year in the intrinsic value calculation for TREE 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 3.5% for LendingTree.

Corporate tax rate of 27% is the nominal tax rate for LendingTree. 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 TREE 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 TREE are equal to 16.5%.

Life of production assets of 15.6 years is the average useful life of capital assets used in LendingTree 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 TREE is equal to -4.4%. 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 - $231 million for LendingTree - 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 12.014 million for LendingTree 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 LendingTree at the current share price and the inputted number of shares is $3.6 billion.

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COMPANY NEWS

▶ LendingTree CEO sells $1M worth of stock as board member buys more   [Nov-14-17 10:24AM  American City Business Journals]
▶ The Most Maxed-Out Places in America   [Nov-08-17 12:00PM  PR Newswire]
▶ Tree.com beats Street 3Q forecasts   [Oct-26-17 07:31AM  Associated Press]
▶ Why Charlotte is among the 'most changed cities' in past 10 years   [Oct-20-17 07:35AM  American City Business Journals]
▶ Will LendingTree Wither Amid Q4 Headwinds?   [Oct-12-17 02:10PM  Benzinga]
▶ In an ongoing acquisition streak, LendingTree buys another online loan marketplace   [Sep-19-17 03:20PM  American City Business Journals]
▶ LendingTree Has Bucked Mortgage Industry Trends, CEO Says   [Sep-07-17 07:54PM  Bloomberg Video]
▶ ETFs with exposure to LendingTree, Inc. : August 15, 2017   [Aug-15-17 05:18PM  Capital Cube]
▶ 3 Stocks That Doubled So Far in 2017   [Aug-14-17 09:03PM  Motley Fool]
▶ Tree.com misses 2Q profit forecasts   [Jul-27-17 04:13PM  Associated Press]
▶ Story Stocks from Briefing.com   [10:28AM  Briefing.com]
▶ LendingTree Acquires MagnifyMoney   [Jun-20-17 04:30PM  PR Newswire]
▶ LendingTree buys bank comparison website   [Jun-15-17 12:40PM  American City Business Journals]
▶ LendingTree Acquires DepositAccounts.com   [08:00AM  PR Newswire]
▶ 3 Top Stocks With Lots of Room Left to Grow   [May-11-17 08:03AM  Motley Fool]
▶ ETFs with exposure to LendingTree, Inc. : May 3, 2017   [May-03-17 04:24PM  Capital Cube]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [Apr-28-17 03:30PM  Investor's Business Daily]
▶ [$$] LendingTree, Ally Look Like Picks   [02:54PM  Barrons.com]
▶ LendingTree Gets Approved For Composite Rating Upgrade   [11:45AM  Investor's Business Daily]
▶ Why LendingTree Stock Is Surging Higher Today   [Apr-27-17 01:02PM  Motley Fool]
▶ Tree.com misses 1Q profit forecasts   [08:20AM  Associated Press]
▶ LendingTree's Top 10 Most Popular New Cars of 2017   [Apr-12-17 09:00AM  PR Newswire]
Financial statements of TREE
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.

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