Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 3.3x · ROE 9.5%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $2.3B | $1.8B | $948M | $915M | $2.5B | $955M | $1.1B | $1.1B | $1.7B | $2.0B |
| Enterprise Value | $1.3B | $1.3B | $906M | $-247263190 | $68M | $2.2B | $1.4B | $3.3B | $3.8B | $4.6B | $5.8B |
| P/E Ratio → | 16.70 | 16.47 | 35.98 | 24.28 | 3.15 | 134.33 | — | — | — | — | — |
| P/S Ratio | 2.22 | 2.25 | 2.33 | 1.10 | 0.77 | 3.02 | 3.13 | 1.50 | 1.87 | 3.46 | 4.78 |
| P/B Ratio | 1.52 | 1.50 | 1.36 | 0.76 | 0.79 | 2.90 | 1.32 | 1.22 | 1.28 | 1.82 | 2.09 |
| P/FCF | — | — | — | — | 2.99 | 12.02 | 2.47 | — | — | — | — |
| P/OCF | — | — | — | — | 2.44 | 10.30 | 2.28 | — | — | — | 3735.32 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.35 | 1.15 | -0.29 | 0.06 | 2.70 | 4.66 | 4.46 | 6.41 | 9.47 | 13.71 |
| EV / EBITDA | 3.31 | 3.40 | 7.65 | -2.43 | 0.35 | 35.28 | — | 104.51 | — | — | — |
| EV / EBIT | 3.94 | 4.41 | 13.92 | -4.53 | 0.45 | 119.97 | — | — | — | — | — |
| EV / FCF | — | — | — | — | 0.22 | 10.77 | 3.67 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.7% | 64.7% | 52.4% | 54.7% | 72.4% | 75.7% | 66.2% | 74.7% | 60.7% | 46.0% | 38.2% |
| Operating Margin | 25.0% | 25.0% | 5.6% | 4.8% | 12.1% | 2.1% | -41.2% | -3.2% | -13.1% | -14.5% | -13.5% |
| Net Profit Margin | 10.2% | 10.2% | 4.4% | 3.4% | 22.8% | 2.1% | -41.2% | -3.1% | -13.1% | -14.5% | -13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.5% | 9.5% | 4.0% | 3.2% | 28.8% | 2.4% | -23.1% | -3.5% | -14.3% | -16.2% | -14.5% |
| ROA | 1.2% | 1.2% | 0.5% | 0.5% | 4.5% | 0.5% | -7.7% | -0.9% | -3.0% | -3.0% | -2.6% |
| ROIC | 17.3% | 17.3% | 3.6% | 3.1% | 8.6% | 0.9% | -5.6% | -0.6% | -2.3% | -2.4% | -2.1% |
| ROCE | 21.6% | 21.6% | 4.5% | 3.8% | 9.8% | 1.1% | -10.9% | -1.3% | -3.5% | -3.1% | -2.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.05 | 0.18 | 0.51 | 1.37 | 2.68 | 3.54 | 3.59 | 4.43 |
| Debt / EBITDA | 0.04 | 0.04 | 0.24 | 0.56 | 1.07 | 6.85 | — | 77.07 | — | — | — |
| Net Debt / Equity | — | -0.60 | -0.69 | -0.95 | -0.73 | -0.30 | 0.64 | 2.41 | 3.11 | 3.16 | 3.90 |
| Net Debt / EBITDA | -2.27 | -2.27 | -7.82 | -11.74 | -4.30 | -4.10 | — | 69.28 | — | — | — |
| Debt / FCF | — | — | — | — | -2.77 | -1.25 | 1.20 | — | — | — | — |
| Interest Coverage | 0.91 | 0.91 | 0.17 | 0.20 | 1.85 | 0.23 | -1.25 | -0.12 | -0.33 | -0.27 | -0.22 |
Net cash position: cash ($918M) exceeds total debt ($16M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.10 | 0.10 | 0.49 | 0.40 | 0.25 | 0.34 | 4.20 | 0.46 | 0.62 | 5.12 | 11.82 |
| Quick Ratio | 0.10 | 0.10 | 0.49 | 0.40 | 0.25 | 0.34 | 4.20 | 0.46 | 0.62 | 5.12 | 11.82 |
| Cash Ratio | 0.09 | 0.09 | 0.10 | 0.17 | 0.16 | 0.21 | 3.16 | 0.20 | 0.38 | 3.14 | 6.95 |
| Asset Turnover | — | 0.12 | 0.11 | 0.13 | 0.16 | 0.18 | 0.24 | 0.33 | 0.26 | 0.23 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 5.3% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 6.1% | 2.8% | 4.1% | 31.7% | 0.7% | — | — | — | — | — |
| FCF Yield | — | — | — | — | 33.4% | 8.3% | 40.5% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 5.3% | 0.0% | 0.0% | 0.0% | 1.0% |
| Shares Outstanding | — | $119M | $113M | $108M | $104M | $102M | $90M | $87M | $85M | $82M | $78M |
Includes 30+ ratios · 14 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying LC stock.
LendingClub Corporation's current P/E ratio is 16.7x. The historical average is 42.8x. This places it at the 40th percentile of its historical range.
LendingClub Corporation's current EV/EBITDA is 3.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.7x.
LendingClub Corporation's return on equity (ROE) is 9.5%. The historical average is 3.4%.
Based on historical data, LendingClub Corporation is trading at a P/E of 16.7x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LendingClub Corporation has 64.7% gross margin and 25.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
LendingClub Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Provision volatility and fee reliance
Metrics are mathematically derived from official filings.
Premium Priced on Fee Inflection
LendingClub trades at 1.52x book and 16.7x trailing earnings, but forward P/E of 11.0x implies market expects sustained earnings growth. According to quarterly data, P/B has expanded from 11.4x to 13.4x over the past year, suggesting re-rating.
The market appears to be pricing LendingClub as a growth-oriented fintech rather than a traditional bank, given the P/B of 1.52x versus peers like SoFi at 2.18x and PennyMac at 0.98x. The forward P/E of 10.98x implies that the market expects the elevated 2026Q2 earnings (driven by a one-time fee event) to normalize, but still grow. However, the reliance on non-interest income for 100% of revenue in 2026Q2 raises questions about the sustainability of the earnings power, which may justify a discount to higher-quality fintechs.
ROE Recovery Masked by Fee Spike
ROE improved to 3.8% in 2026Q2 from 0.7% in 2024Q4, according to LendingClub's financial statements, but the surge is tied to a one-time fee event. Underlying profitability remains thin, with ROA at 0.5% and NIM at 1.5%.
DuPont decomposition shows that ROE is driven by asset utilization and non-interest income, not by net interest margin, which remains low at 1.5%. The efficiency ratio swung from 23.3% in 2026Q2 to 70.8% in 2026Q1, indicating that the fee spike temporarily inflated profitability. Excluding the one-time fee, ROE would likely be below 1%, suggesting that the core banking operations are not yet generating adequate returns on equity.
NIM Expansion but Efficiency Volatile
Net interest margin improved from 1.3% in 2024Q1 to 1.5% in 2026Q1, as per LendingClub's financial statements, but the efficiency ratio is highly volatile, swinging from 23.3% to 70.8% in recent quarters, indicating unstable operating leverage.
The NIM expansion suggests improved asset yields or funding costs, but the efficiency ratio volatility is concerning. The 23.3% efficiency ratio in 2026Q2 is likely distorted by the one-time fee income, while the 70.8% in 2026Q1 reflects more normalized operations. Investors should monitor whether the bank can sustain cost discipline as fee income normalizes, as the efficiency ratio may revert to the mid-40s range seen in prior quarters.
Thin Equity Cushion Limits Flexibility
Equity-to-assets ratio has remained stable at 0.12-0.13 over the past year, according to LendingClub's balance sheet data, but asset growth of 36% outpaced equity growth of 23%, suggesting a thinning capital cushion relative to risk.
With an equity-to-assets ratio of 12%, LendingClub operates with a thinner capital base than traditional banks, which typically maintain 9-10% CET1 ratios. The rapid asset growth, funded partly by securities sales, may strain capital adequacy. While the bank does not pay dividends and has minimal buybacks, the lack of capital return suggests management is prioritizing reinvestment, but the thin cushion may limit future growth or require capital raises if credit losses materialize.
Provision Spike Signals Credit Stress
Loan loss provisions reached $85.2M in 2026Q2, the highest in the reported period, according to LendingClub's income statement, indicating potential deterioration in credit quality. The provision coverage ratio is not disclosed, but the spike warrants close monitoring.
The elevated provision expense suggests that LendingClub is experiencing higher charge-offs or expected losses on its loan portfolio. Given the bank's focus on consumer credit, which is sensitive to economic conditions, the provision spike may indicate early signs of credit stress. Investors should monitor the net charge-off rate and the allowance coverage ratio in upcoming filings to assess whether the reserve levels are adequate.
P/E Misleads on Earnings Quality
The trailing P/E of 16.7x is misleading because it is based on earnings that include a one-time fee event, as per LendingClub's income statement. A more appropriate metric is P/TBV, which at 1.52x reflects the bank's tangible book value.
For banks, P/E is often distorted by provision volatility and one-time items. LendingClub's 2026Q2 earnings were inflated by a $268.9M non-interest income spike, which is unlikely to recur. The forward P/E of 10.98x may be more indicative of normalized earnings, but it still relies on analyst estimates that may not fully capture credit risk. Instead, investors should focus on P/TBV and ROTCE, which provide a clearer picture of the bank's underlying profitability and capital efficiency. The current P/TBV of 1.52x suggests the market is pricing in some growth, but the thin equity base and credit risk warrant a discount to higher-quality banks.