GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC
LendingClub Corp (NYSE:LC)
Not Rated
Significantly Overvalued[5]$ 20.91
Credit Services
Market Cap: $ 2,088 Mil
LendingClub Corp is an online marketplace connecting borrowers and investors to engage in transactions relating to standard or custom program loans.
Valuation Rank
Score: 0 /10CurrentIndustry MedianHistorical Median
PE RatioLoss14.34637.1
Forward P/E12.4110.76N/A
PB Ratio2.591.161.93
PS Ratio3.794.074.09
P/FCF14.886.5278.05
Shiller P/EN/A15.35N/A
PEG RatioN/A1.27N/A
Valuation Analysis
% of Price
Tangible Book7.0834
Price20.91
Dividend & Ownership
Dividend Yield(ttm) %N/A
Dividend Yield(forward) %N/A
PayoutN/A
Dividend Growth(5y) %N/A
Yield on Cost(5y) %N/A
Continuous Div. sinceN/A
Insider Ownership %10.03
Institution Ownership %42.83
Financial Strength
Score: 3 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt1.580.310.14
Equity-to-Asset0.170.420.19
Piotroski F-Score655
Profitability Rank
Score: 2 /10CurrentIndustry MedianHistorical Median
Net Margin %-6.6518.13-21.55
ROE %-4.695.52-10.32
ROA %-1.071.80-2.57
Growth (Per Share)
10 Yr5 Yr1 Yr
Revenue Growth (%)N/A-3.3-58.4
EPS w/o NRI Growth (%)N/A-51.4N/A
Free Cash Flow Growth (%)N/AN/A-63.2
Book Value Growth (%)N/A-8.8-19
Quarterly
Sep20Dec20Mar21Jun21Sep21
Revenue6911106200242
Net Income-34-27-47927
EPS-0.38-0.29-0.490.090.26
Revenue (YoY) %-61.2-93.38-19.32423.98252.46
Net Income (YoY) %8862.14-11491.03-2.09-111.94-179.2
EPS (YoY) %9400-9766.67-55.45-110.34-168.42
Warning Signs
SEVEREFinancial Strength: Poor
SEVERESloan Ratio: Poor quality of earnings
SEVERERevenue per Share: Declined
Good Signs
GOODBeneish M-Score: Unlikely manipulator
Insider Trades
InsiderPositionDateTradesCur. Shares
Armstrong AnnieChief Risk Offi01/12/22-36970720
Armstrong AnnieChief Risk Offi01/07/22-331771089
Athey Susan CDirector12/15/21-43387242
Armstrong AnnieChief Risk Offi12/07/21-368674406
Armstrong AnnieChief Risk Offi11/08/21-368663338
Armstrong AnnieChief Risk Offi10/07/21-368667024
Athey Susan CDirector09/15/21-83108200
Armstrong AnnieChief Risk Offi09/07/21-368670710
Zeisser Michael PDirector09/03/21193717767
Kay ValerieBank-Chief Capi08/20/21-109183443
As of 01-23-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
Gain % SP500 %
1W-13.27-5.75
1M-13.56-5.42
3M-39.90-3.10
6M25.661.47
YTD-13.52-7.79
1Y80.8815.50
3Y10.1419.94
5Y-6.1716.09
10Y--14.91
139.5
67.55
4.41
7M
3.5M
2012201320142015201620172018201920202021CurrentPerformance
------139.5124.6555.433.422.418.113.3749.21Highest Stock Price
--------54.1517.5517.5512.711.064.419.5Lowest Stock Price
------9398419620891724113011209312088Market Cap
--64.711.615.17577.681.884.687.377.9106.1Shares Outstanding-Diluted
--N/AN/AAt LossAt LossAt LossAt LossAt LossAt LossAt LossAt LossPE Ratio
------9.664.032.141.871.31.241.292.59PB Ratio
------1111.244.783.461.871.683.383.79PS Ratio
------65.2522.0913.849.495.684.125.733.17EV-to-Revenue
--201220132014201520162017201820192020TTMPer Share Data
--0.176.911.54.925.495.967.047.513.135.52Revenue per Share
---0.210.02-2.2-0.05-1.9-1.88-1.52-0.35-2.63-0.43Earnings per Share
---0.18-0.81.940.47-0.66-7.56-8.19-3.684.961.41Free Cash Flow per Share
----------------------Dividends per Share
---0.75-3.0311.6412.3511.4810.369.919.988.097.08Tangible Book per Share
----------------------Median PS Value
----------------------Graham Number
--201220132014201520162017201820192020TTMIncome Statement
--10.780173.8368.6426.1487.6595.4655.2243.5558.9Revenue
--------------------93.7Credit Losses Provision
--22.672.7205.3370.8539.2563.8652.4686.1431.1506.4Total Noninterest Expense
---11.97.3-31.5-2.2-150.2-153.4-128.1-30.9-187.6-37.4Pretax Income
---11.97.3-32.9-5-146-153.8-128.3-30.7-187.5-37.2Net Income
---111.79.1-18.9-1.4-34.3-31.6-21.6-4.7-77-6.7Net Margin %
---8.80-0.10.10.20.92.93.645.7Net Interest Margin-Bank %
----2-6.3-0.5-14.5-16.2-14.3-3.5-25.2-4.7ROE %
---30.6-1.1-0.1-2.6-3-3-0.9-7.7-1.1ROA %
--201220132014201520162017201820192020Sep21Balance Sheet
--32.249.5870.4624.4515.6401.7373243.8525862.2Cash & Equivalents
--2.435.426.645.657.7111.941.631.915.4157.5Total Receivables
--403.31943.43890.15793.65562.64640.83819.52982.31863.34750.8Total Assets
------------32.1458.8587.510546.1Short-Term Debt & CLO
--361.218402813.64571.64320.93266.92162.21234.4884.1498.9Long-Term Debt & CLO
--451.81875.32916.84751.84586.93713.12948.52082.21139.13946Total Liabilities
---48.568.1973.21041.9975.8922.5869.2900.2724.2804.8Total Stockholders Equity
---48.568.1973.21041.9975.8927.8871900.2724.2804.8Total Equity
--201220132014201520162017201820192020TTMCashflow Statement
---11.11.149.974.70.5-573.4-639.7-270.6418171.4Cash Flow from Operations
---218.8-1120.6-1257.1-2406.7-325.9998.6878.7653.8565.839.8Cash Flow from Investing
-----------19.5----------Repurchase of Stock
--215.21112.31097.92035263-480.8-223.3-513.3-783.3-640.4Net Issuance of Debt
--247.81116.22027.62085.7314.5-474.3-239.2-540.1-842.4184.6Cash Flow from Financing
--17.9-3.3820.5-246.2-10.9-49.1-0.2-156.9141.4395.8Net Change in Cash
---0.4-10.4-20.6-39.4-51.8-44.6-53-50.7-31.1-31Capital Expenditure
---11.5-9.329.335.4-51.3-618-692.7-321.3386.9140.4Free Cash Flow
Competitor
TickerCompanyFinancial
Strength
Profitability
Rank
Market Cap
($M)
PE RatioPS RatioNet
Margin %
ROA %ROE %
NYSE:LCLendingClub Corp322,088At Loss3.79-6.65-1.07-4.69
NYSE:ENVAEnova International Inc481,4483.321.3439.5520.4146.41
NAS:WRLDWorld Acceptance Corp261,39715.772.5916.908.6122.39
NYSE:FINVFinVolution Group771,2553.611.0930.1915.5026.72
NAS:ATLCAtlanticus Holdings Corp259449.573.5141.6212.1771.74
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Financial Strength[2] (Quarterly data, as of Sep. 2021) : Poor (3/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 1.58

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.17

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.68

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 6

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 13.24% vs ROIC : N/A%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.00%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Profitability[3] (Annual data, as of Dec. 2020) : Poor (2/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $242 Mil vs Net Income : $27 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $862 Mil vs Long-Term Debt* : $499 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Net Margin % : 11.24%

Net margin % measures the percentage of revenue remaining after all operating expenses, interest, taxes, etc have been deducted from a company's total revenue. Net Margin % is calculated as Net Income divided by its Revenue.


EPS without NRI : $0.26

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.00

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.72

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Valuation (Quarterly data, as of Sep. 2021)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $20.91)


PE Ratio without NRI : At Loss

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 3.50

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 5.12

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 20.10

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-Revenue : 4.47

Enterprise value of a company divided by its trailing 12 months revenue.

GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Financial Strength : Poor

LendingClub Corp displays poor financial strength. Usually this is caused by too much debt for the company.

Sloan Ratio : Poor quality of earnings

When Sloan Ratio (-62.86)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.

Revenue per Share : Declined

LendingClub Corp revenue per share has been in decline for the last 5 years.

Good Signs

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

PS Ratio : Close to 1-year low

LendingClub Corp stock PS Ratio (=3.79) is close to 1-year low of 3.44

Medium Warning Signs

Insider Sell : Insider Selling

There were 5 insider selling transactions and no insider buying over the past 3 months. 15,396 shares were sold.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NYSE:FINVFinVolution Group7/10254.790.610.007.0063.07-1.218.20N/A
NYSE:QDQudian Inc7/105.620.870.1112.8342.87-2.573.85N/A
NYSE:YRDYiren Digital Ltd6/102.390.590.2418.8241.82-0.402.51N/A
NAS:EZPWEZCORP Inc5/100.530.530.711.4151.81-2.336.76N/A
NYSE:ENVAEnova International Inc4/100.200.461.005.3473.43-1.9410.01N/A
NYSE:LCLendingClub Corp3/101.580.170.68N/A60.00-2.7113.24N/A
NYSE:BBDCBarings BDC Inc2/100.030.411.39N/A40.00-3.664.07N/A
NYSE:CUROCURO Group Holdings Corp2/100.170.126.28N/A70.00-3.3310.46N/A
NAS:OPRTOportun Financial Corp2/100.100.223.39N/A60.00-2.574.16N/A
NAS:WRLDWorld Acceptance Corp2/100.030.371.58N/A70.00-3.098.46N/A

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NYSE:ENVAEnova International Inc8/10N/A39.5546.4120.413.60N/A16.30N/A182.40
NYSE:FINVFinVolution Group7/10N/A30.1926.7215.506.46N/A-5.30N/A0.00
NYSE:QDQudian Inc7/10N/A66.5910.979.580.75N/A-4.70N/A-20.10
NAS:WRLDWorld Acceptance Corp6/10N/A16.9022.398.616.25N/A11.50N/A34.20
NAS:EZPWEZCORP Inc5/10N/A1.181.290.7114.77N/A-2.40N/A-39.00
NYSE:YRDYiren Digital Ltd5/10N/A3.243.652.060.00N/A-29.50N/A-55.40
NYSE:CUROCURO Group Holdings Corp3/10N/A13.6353.336.762.00N/A-4.20N/A4.70
NYSE:BBDCBarings BDC Inc2/10N/A88.9712.865.400.00N/A0.00N/A0.00
NYSE:LCLendingClub Corp2/10N/A-6.65-4.69-1.0714.88N/A-19.40N/A-11.80
NAS:OPRTOportun Financial Corp2/10N/A8.628.751.996.35N/A-5.90N/A-52.60

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NYSE:LCLendingClub CorpAt Loss2.593.790.000.000.000.000.00N/A-19.89
NYSE:QDQudian Inc1.230.130.860.000.000.000.000.08N/A0.00
NYSE:ENVAEnova International Inc3.321.281.340.160.000.000.130.51N/A64.22
NYSE:FINVFinVolution Group3.610.851.090.000.000.000.000.37N/A0.00
NYSE:CUROCURO Group Holdings Corp6.632.830.870.000.000.000.000.00N/A0.00
NYSE:BBDCBarings BDC Inc7.220.936.380.000.000.000.000.55N/A-30.07
NYSE:YRDYiren Digital Ltd10.890.350.330.770.000.000.000.41N/A0.00
NAS:OPRTOportun Financial Corp13.741.051.150.000.000.000.000.83N/A0.00
NAS:WRLDWorld Acceptance Corp15.773.352.590.501.071.580.001.59N/A14.68
NAS:EZPWEZCORP Inc37.560.500.460.360.000.650.001.32N/A7.32
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Per Share Data



Per Share Data

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
0.17
6.9
11.5
4.92
5.49
5.96
7.04
7.51
3.13
5.52
Revenue per Share
-0.21
0.02
-2.2
-0.05
-1.9
-1.88
-1.52
-0.35
-2.63
-0.43
Earnings per Share (Diluted)
-0.21
0.1
-2.2
-0.05
-1.9
-1.88
-1.52
-0.35
-2.63
-0.43
EPS without NRI
--
--
--
--
--
-0.64
-1.99
-0.98
-3.35
-0.86
Owner Earnings per Share (TTM)
-0.18
-0.8
1.94
0.47
-0.66
-7.56
-8.19
-3.68
4.96
1.41
Free Cash Flow per Share
-0.17
0.1
3.3
1
0.01
-7.01
-7.56
-3.1
5.36
1.73
Operating Cash Flow per Share
0.5
4.27
11.72
8.22
6.48
4.81
4.34
2.75
5.96
8.64
Cash per Share
-0.75
-3.03
13.1
13.72
12.26
11.05
10.12
10.14
8.22
8.07
Book Value per Share
-0.75
-3.03
11.64
12.35
11.48
10.36
9.91
9.98
8.09
7.08
Tangible Book per Share
5.59
159
37.87
60.2
54.29
39.51
30.5
20.53
11.22
5.46
Total Debt per Share
--
--
127
55.25
26.25
20.65
13.15
12.62
10.56
20.91
Month End Stock Price

Ratios

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
--
1.95
-6.32
-0.5
-14.47
-16.21
-14.32
-3.48
-25.22
-4.69
ROE %
--
--
-0.65
-0.12
-6.76
-8.67
-11.02
-2.81
-19.55
-1.81
ROE % Adjusted to Book Value
-2.96
0.62
-1.13
-0.1
-2.57
-3.02
-3.03
-0.9
-7.74
-1.07
ROA %
--
1.95
-7.06
-0.55
-15.76
-17.3
-14.95
-3.54
-25.63
-5.13
Return-on-Tangible-Equity
-2.96
0.62
-1.15
-0.11
-2.61
-3.05
-3.06
-0.91
-7.78
-1.09
Return-on-Tangible-Asset
--
--
9.92
11.87
13.02
13.32
11.82
10.32
9.55
13.24
WACC %
8.87
17.03
15.33
14.89
15.48
15
13.03
11.1
10.07
10.38
Effective Interest Rate on Debt %
-8.82
0.01
-0.09
0.08
0.17
0.92
2.88
3.56
3.98
5.73
Net Interest Margin (Bank Only) %
-112
9.13
-18.93
-1.36
-34.26
-31.55
-21.55
-4.69
-77.01
-6.65
Net Margin %
-107
-11.62
16.89
9.59
-12.04
-127
-116
-49.04
159
25.11
FCF Margin %
-7.45
27.02
2.89
4.39
4.43
3.58
3.02
2.02
1.37
0.68
Debt-to-Equity
-0.12
0.04
0.25
0.18
0.18
0.2
0.23
0.3
0.39
0.17
Equity-to-Asset
0.9
0.95
0.72
0.79
0.78
0.71
0.69
0.61
0.53
0.12
Debt-to-Asset
1.12
0.97
0.75
0.82
0.83
0.8
0.77
0.7
0.61
0.83
Liabilities-to-Assets
0.03
0.07
0.06
0.08
0.08
0.1
0.14
0.19
0.1
0.16
Asset Turnover
0.04
0.13
0.12
0.11
0.12
0.09
0.09
0.08
0.13
0.06
Capex-to-Revenue
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Financial Satement



Income Statement

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
-0.37
188
354
553
697
611
487
345
210
228
  Interest Income
-32.03
-187
-357
-550
-688
-571
-386
-247
-142
-86.67
  Interest Expense
-32.4
0.06
-2.16
3.23
8.29
39.84
102
98.76
68.19
141
Net Interest Income (for Banks)
43.1
79.96
176
365
418
448
494
556
175
417
Non Interest Income
10.7
80.02
174
369
426
488
595
655
244
559
Revenue
--
--
--
--
--
--
--
--
--
93.65
Credit Losses Provision
22.64
57.19
167
294
424
422
497
518
292
364
Selling, General, & Admin. Expense
--
15.53
38.52
77.06
115
142
155
168
139
142
Other Noninterest Expense
22.64
72.72
205
371
539
564
652
686
431
506
Total Noninterest Expense
--
--
--
--
37.05
77.25
71.13
--
--
-- SpecialCharges
-0
-0
0
--
-0
--
--
0
--
3.8
Other Income (Expense)
-11.94
7.31
-31.5
-2.16
-150
-153
-128
-30.89
-188
-37.41
Pre-Tax Income
--
--
-1.39
-2.83
4.23
-0.63
-0.04
0.2
0.08
0.23
Tax Provision
--
--
-4.41
-131
2.81
-0.41
-0.03
0.65
0.04
0.6
Tax Rate %
-11.94
7.31
-32.89
-5
-146
-154
-128
-30.69
-188
-37.18
Net Income (Continuing Operations)
--
--
--
--
--
0.21
-0.16
-0.06
--
--   Other Income (Minority Interest)
-11.94
7.31
-32.89
-5
-146
-154
-128
-30.75
-188
-37.18
Net Income
-112
9.13
-18.93
-1.36
-34.26
-31.55
-21.55
-4.69
-77.01
-6.65
Net Margin %
--
--
--
--
--
--
--
--
50.2
-- Preferred Dividends
-0.21
0.02
-2.2
-0.05
-1.9
-1.88
-1.52
-0.35
-2.63
-0.41
EPS (Basic)
-0.21
0.02
-2.2
-0.05
-1.9
-1.88
-1.52
-0.35
-2.63
-0.43
EPS (Diluted)
64.67
11.59
15.12
74.97
77.55
81.8
84.58
87.28
77.93
106
Shares Outstanding (Diluted Average)
0.15
1.66
10.26
21.58
29.88
46.21
54.76
59.15
54.03
19.25
Depreciation, Depletion and Amortization

Cashflow Statement

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
-11.94
7.31
-32.89
-5
-146
-154
-128
-30.69
-188
-37.18
Net Income From Continuing Operations
0.15
1.66
10.26
21.58
29.88
46.21
54.76
59.15
54.03
19.25
Depreciation, Depletion and Amortization
-2.39
-10.69
-8.4
-14.01
-2.22
6.29
-3.79
-16.3
-5.05
0.23
  Change In Receivables
-1.51
--
--
--
--
--
--
--
--
--   Change In Prepaid Assets
3.58
16.93
28.27
43.17
36.2
147
-111
-65.72
-114
5.43
  Change In Payables And Accrued Expense
0.04
-21.02
13.27
-15.86
-9.96
-71.21
52.71
6.61
19.73
-27
  Change In Other Working Capital
-0.28
-14.79
33.14
13.3
24.02
82.04
-61.67
-75.41
-99.33
-34.96
Change In Working Capital
0.66
6.49
37.15
51.22
69.24
70.98
75.09
73.64
61.53
63.4
Stock Based Compensation
--
--
--
--
37.05
--
35.63
--
--
-- Asset Impairment Charge
0.33
0.47
2.26
-6.37
-13.68
-619
-615
-297
589
161
Cash Flow from Others
-11.09
1.14
49.92
74.74
0.55
-573
-640
-271
418
171
Cash Flow from Operations
-0.38
-10.44
-20.57
-39.39
-51.84
-44.62
-52.98
-50.67
-31.15
-31
Purchase Of Property, Plant, Equipment
--
--
-109
--
--
--
--
--
--
-145
Purchase Of Business
--
--
--
--
--
--
--
--
--
668
Sale Of Business
--
--
--
-419
-85.98
-140
-136
-144
-53.74
-79.11
Purchase Of Investment
--
--
--
120
87.16
363
201
237
232
265
Sale Of Investment
-218
-1110
-1127
-2069
-275
820
867
612
419
-638
Cash From Other Investing Activities
-219
-1121
-1257
-2407
-326
999
879
654
566
39.77
Cash Flow from Investing
0.16
--
828
5.09
5.24
5.61
5.23
2.41
--
-- Issuance of Stock
--
--
--
--
-19.49
--
--
--
--
-- Repurchase of Stock
31.95
--
64.8
--
--
--
--
--
--
-- Net Issuance of Preferred Stock
320
1618
2206
3862
2703
2598
3338
3619
1696
2051
  Issuance of Debt
-105
-506
-1108
-1827
-2440
-3079
-3561
-4133
-2480
-2692
  Payments of Debt
215
1112
1098
2035
263
-481
-223
-513
-783
-640
Net Issuance of Debt
--
--
--
--
--
--
--
--
-50.2
-- Cash Flow for Dividends
0.54
3.95
37.23
45.63
65.77
0.89
-21.2
-29.18
-8.95
825
Other Financing
248
1116
2028
2086
314
-474
-239
-540
-842
185
Cash Flow from Financing
17.91
-3.25
820
-246
-10.85
-49.12
-0.23
-157
141
396
Net Change in Cash
-0.38
-10.44
-20.57
-39.39
-51.84
-44.62
-52.98
-50.67
-31.15
-31
Capital Expenditure
-11.47
-9.3
29.35
35.35
-51.3
-618
-693
-321
387
140
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Financial Satement


Balance Sheet

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
32.2
49.49
870
624
516
402
373
244
525
862
Cash and cash equivalents
4.86
12.21
46.76
80.73
178
243
271
243
104
77.58
Money Market Investments
363
1829
2799
4556
4321
3529
2726
1845
809
3186
  Gross Loan
--
--
--
--
--
--
--
--
--
-105
  Allowance For Loans And Lease Losses
363
1829
2799
4556
4321
3529
2726
1845
809
3081
Net Loan
--
--
--
297
298
128
179
279
151
293
Securities & Investments
2.35
34.53
26.16
44.17
49.44
46.15
41.58
31.87
15.45
--   Accounts Receivable
--
0.86
0.47
1.43
8.23
65.8
--
--
--
157
  Other Current Receivables
2.35
35.39
26.63
45.61
57.67
112
41.58
31.87
15.45
157
Total Receivables
0.53
12.6
27.05
55.93
89.26
102
114
208
171
176
Property, Plant and Equipment
--
--
109
104
61.84
57.56
18.05
14.55
11.43
98.24
Intangible Assets
--
--
72.59
72.68
35.63
35.63
--
--
--
75.72
  Goodwill
0.8
4.67
11.78
29.77
41.91
67.88
97.14
116
78.21
4.79
Other Assets for Banks
403
1943
3890
5794
5563
4641
3820
2982
1863
4751
Total Assets
--
--
--
--
--
--
--
--
--
2839
Total Deposits
4.47
28.24
78.48
134
204
209
219
154
62.94
77.29
Accounts Payable & Accrued Expense
--
--
--
--
--
32.1
459
587
105
46.11
Short-Term Debt & Capital Lease Obligation
361
1840
2814
4572
4321
3267
2162
1234
884
499
Long-Term Debt & Capital Lease Obligation
-7.45
27.02
2.89
4.39
4.43
3.58
3.02
2.02
1.37
0.68
Debt-to-Equity
86.16
7.07
24.74
46.23
61.91
205
108
106
87.07
485
Other Liabilities for Banks
452
1875
2917
4752
4587
3713
2949
2082
1139
3946
Total Liabilities
0.09
0.14
3.71
3.8
4
4.2
0.86
0.89
0.88
1
Common Stock
--
103
--
--
--
--
--
--
--
-- Preferred Stock
-53.4
-50.33
-83.22
-88.22
-234
-389
-518
-548
-786
-797
Retained Earnings
--
--
--
-1.67
-0.77
-0.01
0.16
-0.57
1.48
5.98
Accumulated other comprehensive income (loss)
4.84
15.04
1053
1128
1226
1327
1405
1468
1508
1595
Additional Paid-In Capital
--
--
--
--
-19.49
-19.49
-19.49
-19.55
--
-0.09
Treasury Stock
--
--
--
--
0
--
-0
-0
--
-0
Other Stockholders Equity
-48.47
68.09
973
1042
976
922
869
900
724
805
Total Stockholders Equity
--
--
--
--
--
5.26
1.78
--
--
-- Minority Interest
-48.47
68.09
973
1042
976
928
871
900
724
805
Total Equity
-0.12
0.04
0.25
0.18
0.18
0.2
0.23
0.3
0.39
0.17
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Valuation Ratios



Valuation Ratios

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
N/A
N/A
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss PE Ratio
N/A
N/A
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss
At Loss PE Ratio without NRI
--
--
9.66
4.03
2.14
1.87
1.3
1.24
1.29
2.59
PB Ratio
--
--
10.87
4.47
2.29
1.99
1.33
1.26
1.31
2.95
Price-to-Tangible-Book
--
--
65.14
117
--
--
--
--
2.13
14.88
Price-to-Free-Cash-Flow
--
--
38.3
55.42
3750
--
--
--
1.97
12.1
Price-to-Operating-Cash-Flow
--
--
11
11.24
4.78
3.46
1.87
1.68
3.38
3.79
PS Ratio
--
--
65.25
22.09
13.84
9.49
5.68
4.12
5.73
3.17
EV-to-Revenue
--
--
--
--
--
--
--
-36.28
-32.38
-19.89
Forward Rate of Return (Yacktman) %

Valuation and Quality

Mar12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
--
--
9398
4196
2089
1724
1130
1120
931
2088
Market Cap
--
--
11341
8143
5895
4627
3380
2698
1395
1771
Enterprise Value
--
--
127
55.25
26.25
20.65
13.15
12.62
10.56
20.91
Month End Stock Price
-6.49
-158
-27.55
-50.43
-47.54
-38.31
-28.01
-17.66
-5.35
-28.15
Net Cash per Share
-6.46
-164
-27.28
-50
-47.08
-37.9
-27.65
-17.39
-5.22
-28.15
Net-Net Working Capital
--
--
--
--
--
--
-28.25
-20.01
-16.32
-10.77
Intrinsic Value: Projected FCF
--
--
--
--
--
-37.04
-28.78
-19.67
-9.39
1.62
Earnings Power Value (EPV)
N/A
N/A
4
6
3
4
5
5
5
6
Piotroski F-Score
--
--
-2.39
-1.7
-2.52
-2.07
-1.9
-2.23
-4.46
-2.71
Beneish M-Score
0.7
4.61
1.5
1.28
0.83
0.69
0.67
0.65
0.4
0.11
Scaled Net Operating Assets
54.04
57.98
30.19
40.16
3.22
-12.48
-9.62
-13.88
-62.86
-5.23
Sloan Ratio %
--
--
140
125
55.4
33.4
22.4
18.1
13.37
49.21
Highest Stock Price
--
--
--
54.15
17.55
17.55
12.7
11.06
4.41
9.5
Lowest Stock Price
--
82.07
-541
-2.23
-4.81
-4.9
-2.91
-3.29
0.68
-30.41
Shares Buyback Ratio %
--
--
-8.81
-0.12
0.68
-0.33
-0.46
-0.22
--
-- Buyback Yield %
--
4084
66.58
-57.25
11.76
8.52
18.08
6.63
-58.37
13.33
YoY Rev. per Sh. Growth
--
108
-13850
97.73
-3700
1.05
19.15
76.97
-651
81.68
YoY EPS Growth
58.35
11.59
15.12
74.97
77.55
81.8
84.58
87.28
77.93
99.07
Shares Outstanding (Basic Average)
64.67
11.59
74.29
75.94
79.6
83.49
85.93
88.76
88.15
99.87
Shares Outstanding (EOP)
--
--
--
--
--
1.59
1.29
1.29
1.81
2.26
Beta
04/01/13
12/11/14
02/27/15
02/22/16
02/28/17
02/22/18
02/20/19
02/19/20
03/11/21
  Filing Date
12/11/14
02/22/16
02/28/17
02/22/18
02/20/19
02/19/20
03/11/21
03/11/21
03/11/21
  Restated Filing Date
02/11/16
02/14/17
02/20/18
02/19/19
02/19/20
03/10/21
  Earnings Release Date
--
--
364
89
69
58
49
36
--
-- Number of Shareholders
--
--
843
1382
1530
1837
1768
1538
1030
1030
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
LendingClub Corp (NYSE:LC)
www.gurufocus.com/stock/NYSE:LC

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.