loanDepot, Inc. (LDI) vs Walker & Dunlop, Inc. (WD)

loanDepot, Inc. and Walker & Dunlop, Inc. are both Mortgage Finance companies. Walker & Dunlop, Inc. is the larger, with a market value of $1.3B against $223.8M — 5.7× the size. loanDepot, Inc. has negative trailing earnings, so its P/E is not meaningful; Walker & Dunlop, Inc. trades at 33.9×. loanDepot, Inc. grew revenue faster over the last twelve months: 11.4% against 8.01%. Walker & Dunlop, Inc. has the higher net margin (2.84% vs −5.52%) and the higher return on invested capital (0.99% vs 0.72%). Both pay a dividend; loanDepot, Inc. yields more (18.7% vs 2.65%). Across the 21 metrics below, Walker & Dunlop, Inc. leads on 13 and loanDepot, Inc. on 8.

Valuation

Metric LDI WD Mortgage Finance median
P/E n/m 33.91 7.11
P/S 0.12 0.98 1.54
P/B 0.47 0.73 0.53
Price to free cash flow n/m n/m 6.59
EV/EBITDA 44.36 8.38 22.03
EV/Sales 4.64 2.37 5.95
Earnings yield (44.78%) 2.95% 2.09%
Free cash flow yield (164.78%) (11.15%) (16.97%)

Profitability

Metric LDI WD Mortgage Finance median
Gross margin 87.54% 47.09% 84.40%
Operating margin 5.49% 9.18% 12.51%
Net margin (5.52%) 2.84% (0.83%)
Free cash flow margin (20.34%) (10.21%) (45.06%)
Return on equity (17.97%) 2.10% (1.16%)
Return on assets (1.08%) 0.76% 0.38%
Return on invested capital 0.72% 0.99% 0.36%

Growth

Metric LDI WD Mortgage Finance median
Revenue growth (TTM) 11.44% 8.01% 11.44%
EPS growth (last fiscal year) 43.40% (48.59%) —
Revenue growth, 5-year CAGR (22.71%) 2.64% (11.16%)
Net income growth, 5-year CAGR 0.00% (25.48%) 0.00%

Health

Metric LDI WD Mortgage Finance median
Debt to equity 17.94 1.28 1.22
Current ratio 1.11 0.00 1.38
Net debt to EBITDA 48.55 4.45 9.85

Dividend

Metric LDI WD Mortgage Finance median
Dividend yield 18.71% 2.65% 5.81%
Payout ratio 0.00 0.58 0.00

Size

Metric LDI WD Mortgage Finance median
Market cap 223.82m 1.28b 214.95m

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