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Side-by-side financial comparison of loanDepot, Inc. (LDI) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
loanDepot, Inc. is the larger business by last-quarter revenue ($310.3M vs $219.2M, roughly 1.4× Perella Weinberg Partners). Perella Weinberg Partners runs the higher net margin — 6.3% vs -7.2%, a 13.5% gap on every dollar of revenue. On growth, loanDepot, Inc. posted the faster year-over-year revenue change (20.5% vs -2.9%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-648.0M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs 18.0%).
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
LDI vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $310.3M | $219.2M |
| Net Profit | $-22.5M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | -10.3% | 8.5% |
| Net Margin | -7.2% | 6.3% |
| Revenue YoY | 20.5% | -2.9% |
| Net Profit YoY | 32.4% | — |
| EPS (diluted) | — | $0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $310.3M | $219.2M | ||
| Q3 25 | $323.3M | $164.6M | ||
| Q2 25 | $282.5M | $155.3M | ||
| Q1 25 | $273.6M | $211.8M | ||
| Q4 24 | $257.5M | $225.7M | ||
| Q3 24 | $314.6M | $278.2M | ||
| Q2 24 | $265.4M | $272.0M | ||
| Q1 24 | $222.8M | $102.1M |
| Q4 25 | $-22.5M | $13.8M | ||
| Q3 25 | $-4.9M | $6.0M | ||
| Q2 25 | $-13.4M | $2.7M | ||
| Q1 25 | $-21.9M | $17.3M | ||
| Q4 24 | $-33.2M | — | ||
| Q3 24 | $1.4M | $16.4M | ||
| Q2 24 | $-32.2M | $-66.0M | ||
| Q1 24 | $-34.3M | $-35.8M |
| Q4 25 | -10.3% | 8.5% | ||
| Q3 25 | -3.2% | 5.4% | ||
| Q2 25 | -11.4% | 5.8% | ||
| Q1 25 | -16.8% | 5.5% | ||
| Q4 24 | -32.7% | — | ||
| Q3 24 | 1.1% | 12.9% | ||
| Q2 24 | -29.1% | -30.2% | ||
| Q1 24 | -38.2% | -52.4% |
| Q4 25 | -7.2% | 6.3% | ||
| Q3 25 | -1.5% | 3.6% | ||
| Q2 25 | -4.7% | 1.8% | ||
| Q1 25 | -8.0% | 8.2% | ||
| Q4 24 | -12.9% | — | ||
| Q3 24 | 0.4% | 5.9% | ||
| Q2 24 | -12.1% | -24.3% | ||
| Q1 24 | -15.4% | -35.1% |
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $0.04 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.01 | $0.24 | ||
| Q2 24 | $-0.18 | $-1.21 | ||
| Q1 24 | $-0.19 | $-0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $337.2M | $255.9M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $386.0M | $-127.4M |
| Total Assets | $6.9B | $797.6M |
| Debt / EquityLower = less leverage | 5.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $337.2M | $255.9M | ||
| Q3 25 | $459.2M | $185.5M | ||
| Q2 25 | $408.6M | $145.0M | ||
| Q1 25 | $371.5M | $111.2M | ||
| Q4 24 | $421.6M | $407.4M | ||
| Q3 24 | $483.0M | $335.1M | ||
| Q2 24 | $533.2M | $185.3M | ||
| Q1 24 | $603.7M | $156.7M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.3B | — |
| Q4 25 | $386.0M | $-127.4M | ||
| Q3 25 | $433.3M | $-302.4M | ||
| Q2 25 | $439.1M | $-318.4M | ||
| Q1 25 | $469.3M | $-323.1M | ||
| Q4 24 | $506.6M | $-421.4M | ||
| Q3 24 | $592.0M | $-360.8M | ||
| Q2 24 | $578.9M | $-283.0M | ||
| Q1 24 | $637.3M | $161.9M |
| Q4 25 | $6.9B | $797.6M | ||
| Q3 25 | $6.2B | $650.2M | ||
| Q2 25 | $6.2B | $606.7M | ||
| Q1 25 | $6.4B | $570.5M | ||
| Q4 24 | $6.3B | $876.8M | ||
| Q3 24 | $6.4B | $810.9M | ||
| Q2 24 | $5.9B | $645.5M | ||
| Q1 24 | $6.2B | $583.6M |
| Q4 25 | 5.44× | — | ||
| Q3 25 | 4.83× | — | ||
| Q2 25 | 4.70× | — | ||
| Q1 25 | 4.30× | — | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | 3.41× | — | ||
| Q1 24 | 3.63× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-638.7M | $34.8M |
| Free Cash FlowOCF − Capex | $-648.0M | $30.5M |
| FCF MarginFCF / Revenue | -208.9% | 13.9% |
| Capex IntensityCapex / Revenue | 3.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-734.6M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-638.7M | $34.8M | ||
| Q3 25 | $43.4M | $59.2M | ||
| Q2 25 | $67.6M | $56.1M | ||
| Q1 25 | $-179.9M | $-176.5M | ||
| Q4 24 | $47.7M | $223.4M | ||
| Q3 24 | $-349.2M | $200.3M | ||
| Q2 24 | $-278.3M | $90.0M | ||
| Q1 24 | $-278.5M | $-206.3M |
| Q4 25 | $-648.0M | $30.5M | ||
| Q3 25 | $38.7M | $57.6M | ||
| Q2 25 | $61.4M | $55.3M | ||
| Q1 25 | $-186.7M | $-177.6M | ||
| Q4 24 | $40.8M | $207.0M | ||
| Q3 24 | $-356.4M | $199.3M | ||
| Q2 24 | $-285.7M | $83.7M | ||
| Q1 24 | $-283.3M | $-214.8M |
| Q4 25 | -208.9% | 13.9% | ||
| Q3 25 | 12.0% | 35.0% | ||
| Q2 25 | 21.7% | 35.6% | ||
| Q1 25 | -68.2% | -83.8% | ||
| Q4 24 | 15.8% | 91.7% | ||
| Q3 24 | -113.3% | 71.6% | ||
| Q2 24 | -107.7% | 30.8% | ||
| Q1 24 | -127.2% | -210.3% |
| Q4 25 | 3.0% | 2.0% | ||
| Q3 25 | 1.5% | 0.9% | ||
| Q2 25 | 2.2% | 0.5% | ||
| Q1 25 | 2.5% | 0.5% | ||
| Q4 24 | 2.7% | 7.3% | ||
| Q3 24 | 2.3% | 0.4% | ||
| Q2 24 | 2.8% | 2.3% | ||
| Q1 24 | 2.1% | 8.3% |
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | — | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | -255.05× | 12.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
