Financial leverage remains elevated, with the debt-to-equity ratio surging to 15.34x in 2026Q1, largely driven by the necessity of warehouse credit lines to fund mortgage originations.
| Total Current Assets | 277.42M | 337.23M | 655.09M | 912.83M | 1.16B | 616.07M | 499.59M | 247M | 105.69M | 57.76M | 60.37M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | -191.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 88.11M | 85.81M | 5.69B | 5.24B | 5.45B | 11.2B | 10.39B | 4.71B | 3.33B | 1.31B | 962.97M |
| Property, Plant & Equipment | 88.11M | 85.81M | 81.51M | 100.24M | 128.56M | 159.91M | 151.44M | 142.59M | 90.95M | 36.29M | 26.99M |
| Fixed Asset Turnover | 16.86x | 17.91x | 13.70x | 10.41x | 10.99x | 23.50x | 28.69x | 9.70x | 12.45x | 14.35x | 12.16x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 40.74M | 40.7M | 40.7M | 40.7M | 10.88M | 10.88M |
| Intangible Assets | 1.69B | 1.66B | 1.63B | 2B | 2.04B | 2.01B | 1.13B | 450.08M | 429.19M | 3.82M | 4.15M |
| Long-Term Investments | 5.93B | 146.26M | 2.78B | 2.25B | 2.43B | 8.35B | 7.62B | 3.83B | -3.45B | 1.11B | 809.46M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 7.25B | 6.86B | 6.34B | 6.15B | 6.61B | 11.81B | 10.89B | 4.95B | 2.13B | 1.37B | 1.02B |
| Asset Turnover | 0.22x | 0.22x | 0.18x | 0.17x | 0.21x | 0.32x | 0.40x | 0.28x | 0.53x | 0.38x | 0.32x |
| Asset Growth % | 22.82% | 8.1% | 3.14% | -6.94% | -44.04% | 8.44% | 119.95% | 132.88% | 55.19% | 33.91% | - |
| Total Current Liabilities | 3.02B | 2.9B | 3.71B | 2.96B | 4.03B | 8.43B | 8.28B | 3.86B | 50.22M | 1.02B | 761.32M |
| Accounts Payable | 0 | 149.39M | 187.72M | 168.16M | 226.89M | 181.19M | 151.54M | 88.05M | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 3.02B | 2.9B | 3.45B | 2.73B | 3.75B | 8.08B | 7.84B | 3.68B | 547.89M | 938.62M | 697.76M |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | -337.03M | 0 | 0 | 0 | 0 | 0 | 0 | -497.67M | 0 | 0 |
| Current Ratio | 0.09x | 0.12x | 0.18x | 0.31x | 0.29x | 0.07x | 0.06x | 0.06x | 2.10x | 0.06x | 0.08x |
| Quick Ratio | 0.09x | 0.12x | 0.18x | 0.31x | 0.29x | 0.07x | 0.06x | 0.06x | 2.10x | 0.06x | 0.08x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 6.91B | 3.57B | 2.13B | 2.49B | 1.66B | 1.75B | 956.81M | 719.76M | 3.18B | 230.83M | 162.73M |
| Long-Term Debt | 2.11B | 2.1B | 1.94B | 2.2B | 1.33B | 1.37B | 697.47M | 577.1M | 2.44B | 103M | 80M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 6.91B | 6.47B | 5.84B | 5.45B | 5.69B | 10.18B | 9.24B | 4.58B | 3.23B | 1.25B | 924.05M |
| Total Debt | 5.17B | 5.04B | 5.43B | 4.98B | 5.13B | 9.52B | 8.63B | 4.37B | 2.53B | 1.05B | 783.86M |
| Net Debt | 4.9B | 4.7B | 5.01B | 4.32B | 4.27B | 9.1B | 8.34B | 4.3B | 2.41B | 1.02B | 742.97M |
| Debt / Equity | 15.34x | 13.05x | 10.72x | 7.07x | 5.57x | 5.84x | 5.21x | 11.63x | 0.42x | 8.78x | 7.90x |
| Debt / EBITDA | 80.21x | 21.96x | - | - | - | 13.14x | 4.15x | 46.49x | - | 31.07x | 9.95x |
| Net Debt / EBITDA | 75.91x | 20.49x | - | - | - | 12.56x | 4.02x | 45.71x | - | 30.22x | 9.43x |
| Interest Coverage | 0.10x | 0.63x | -0.72x | -0.91x | -2.51x | 2.24x | 11.23x | 0.19x | -0.71x | 0.77x | 4.98x |
| Total Equity | 337.3M | 386.01M | 506.61M | 704.48M | 921.47M | 1.63B | 1.66B | 375.88M | 6.03B | 119.97M | 99.29M |
| Equity Growth % | -102.91% | -23.81% | -28.09% | -23.55% | -43.45% | -1.65% | 340.72% | -93.76% | 4923.94% | 20.83% | - |
| Book Value per Share | 1.47 | 1.83 | 2.73 | 4.03 | 5.91 | 11.87 | 13.11 | 2.98 | 40.98 | 0.82 | 0.68 |
| Total Shareholders' Equity | 337.3M | 234.51M | 272.89M | 353.18M | 433.5M | 523.56M | 0 | 0 | 3.44B | 119.97M | 99.29M |
| Common Stock | 347K | 246K | 332K | 325K | 317K | 312K | 0 | 0 | 2.67B | 0 | 0 |
| Retained Earnings | -651.75M | -614.4M | -550.62M | -451.71M | -342.14M | -28.98M | 0 | 0 | 210.41M | 118.15M | 97.83M |
| Treasury Stock | 0 | -29.64M | -20.34M | -16.49M | -13.28M | -12.85M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 348.89M | 0 | 0 |
| Minority Interest | 133.03M | 151.5M | 233.72M | 351.3M | 487.97M | 1.11B | 1.66B | 375.88M | 2.59B | 0 | 0 |
Elevated leverage and liquidity
According to recent SEC filings, loanDepot's equity base has contracted from $353.2M in 2023Q4 to $337.3M in 2026Q1, reflecting a persistent erosion of book value as the company struggles to generate positive net income while navigating a challenging interest rate environment for mortgage originators.
The consistent decline in retained earnings, which reached -$651.7M in 2026Q1, indicates that the company is consuming its capital base to fund ongoing operations. This trajectory suggests that without a meaningful shift in profitability, the firm may face increasing pressure to raise external capital or further optimize its cost structure.
Based on reported financial statements, loanDepot's debt-to-equity ratio has surged from 7.07x in 2023Q4 to 15.34x in 2026Q1, a trend largely driven by the utilization of warehouse credit lines necessary to fund mortgage originations before they are sold into the secondary market.
While this leverage is inherently tied to the volume of loans held for sale, the high ratio warrants caution as it amplifies the company's sensitivity to interest rate volatility and liquidity constraints. Investors should monitor whether these warehouse lines remain readily available and cost-effective under current market conditions.
As reported in quarterly data, loanDepot's current ratio has deteriorated significantly, falling from 0.31 in 2023Q4 to a precarious 0.09 in 2026Q1, which suggests a narrowing margin of safety for meeting short-term obligations in the event of a sudden market disruption.
The decline in cash reserves from $660.7M to $277.4M over the same period highlights the company's reliance on rapid loan turnover to maintain liquidity. This tight positioning may limit management's ability to pivot strategies or absorb unexpected operational shocks without impacting core business functions.
Based on the provided balance sheet data, loanDepot carries a substantial goodwill balance of $1.7B as of 2026Q1, which represents a significant portion of total assets and poses a potential risk of impairment if the company's market valuation or earnings outlook continues to underperform expectations.
The persistence of this intangible asset on the balance sheet, despite consistent net losses, suggests that the carrying value may be disconnected from current operational realities. Investors should consider the potential for future write-downs, which would further erode the already thin equity base and impact regulatory capital ratios.
Quick answers to the most common questions about buying LDI stock.
As of 2025, loanDepot, Inc. (LDI) had total assets of $6.86B including $337.2M in current assets.
loanDepot, Inc. (LDI) carries total debt of $5.04B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
loanDepot, Inc. (LDI) has total shareholders' equity (book value) of $234.5M ($1.83 book value per share). Book value represents the net worth of the company belonging to common stock holders.
loanDepot, Inc. (LDI) reported a current ratio of 0.12x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.