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Rocket Companies, Inc.

RKT Financial Mortgage Finance

Rocket Companies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.7 billion, up 31.2% from fiscal 2024.

Revenue
+104.6%
EPS
+516.2%
Free cash flow
+7,729.6%
Total debt
+30.3%

Quarter to September 2026, against a year earlier

15.06 0.24 +1.62%
Market cap
$42.1B
P/E
32.8×
Fwd P/E
31.0×
Dividend yield
0.00%
F-score
1/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2022

  • Direct to Consumer
  • Partner Network
  • Other, not broken out

Every year since 2018 →

Insider Decisions last twelve months

Sold, $m 10.16
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 10 3 — — — — — — — 1 2 1
Insider Ownership 33.79%

Capital & Financial Ratios $m

Size
Market Cap 42,060.00
Revenue ttm 11,546.72
Net income ttm 1,303.21
Free cash flow ttm 2,244.77
Net debt Q 22,204.00
Valuation
P/E 32.78
Forward P/E 31.00
Price / sales 3.71
Forward P/S Powerpack
Price / FCF 19.06
Price / book 1.76
Financial health
Current ratio Q 3.77
Debt / equity Q 1.02
Interest coverage Q 3.67
Growth
Revenue growth Q +104.57% (above 0%: growing)
Operating income growth Q +815.00% (above 0%: growing)
EPS, this year +101.19% (at or above 15%: strong)
EPS, next year A +16.09% (at or above 15%: strong)
Revenue, next year A +57.77% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +44.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 61.34%
10-year low 10-year high
P/S against its own 10 years 86.51%
10-year low 10-year high
P/B against its own 10 years 93.35%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,137 1,273 2,696 2,699
Receivables — 559 2,040 1,674
Inventory — — — —
Other — — — —
7,699 10,852 20,207 17,591
2023 2024 2025 Q'26
Payables 171 182 285 4,666
ST’ Debt — — — —
Other — — — —
787 182 285 4,666

Compound Annual Growth %

10y 5y 3y
Sales — (15.62%) 4.67%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 23.77% 39.28%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.13 Actual 0.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.10 0.11 Beat by 0.01
Q1 FY26 0.13 0.15 Beat by 0.02
Q2 FY26 0.16 0.16 Met by 0.00
Q3 FY26 0.13 0.15 Beat by 0.02
Q4 FY26 0.11 — Reports 25 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.10 0.08 0.25 — —
’25 (0.08) (0.01) (0.06) 0.02 (0.05)
’24 0.11 0.01 (0.19) 0.23 0.21
’23 (0.16) 0.05 0.04 (0.09) (0.15)
’22 0.40 0.02 0.04 (0.14) 0.28
’21 1.07 0.40 0.54 0.32 2.32
’20 0.85 34.49 0.54 6.51 1.76
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,941 2,784 3,284 — —
’25 1,101 1,451 1,605 2,538 6,695
’24 1,384 1,301 647 1,770 5,101
’23 666 1,236 1,203 694 3,799
’22 2,671 1,392 1,295 481 5,838
’21 4,539 2,668 3,115 2,593 12,914
’20 1,366 5,036 4,616 4,632 15,650
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,857 (1,212) 1,905 — —
’25 (796) (1,852) (49) (1,230) (3,927)
’24 (3,013) (122) (1,337) 1,842 (2,630)
’23 (1,331) (281) 328 1,395 111
’22 8,772 (2,187) 3,020 1,219 10,824
’21 6,274 (3,716) 779 4,407 7,744
’20 382 (2,293) (1,751) 1,984 (1,677)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,202 (611) 2,114 — —
’25 (722) (1,982) 26 (1,460) (4,138)
’24 (2,987) (384) (1,572) 1,805 (3,138)
’23 (1,271) 296 423 1,515 962
’22 8,984 (2,004) 2,992 1,415 11,388
’21 6,247 (3,664) 1,286 4,505 8,375
’20 530 (2,304) (1,641) 2,193 (1,222)
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 25.4% a year for ten years.

Implied
25.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 3,692 4,210 5,069 15,650 12,914 5,838 3,799 5,101 6,695 11,547 +7.7% 10,563 10,566 11,301 +19.1%
Gross margin, % — 0.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 +100.0 pt
EBT — 724 618 904 9,532 6,185 742 (403) 668 (214) 1,808 n/m
EBT margin, % — 19.61 14.68 17.84 60.90 47.89 12.71 (10.61) 13.10 (3.20) 15.66 (22.8) pt
Net income — 0 615 897 9,399 6,072 700 (390) 636 (234) 1,303 n/m
Per share, $
Per share, $ Revenue — 32.10 36.60 44.08 139.82 98.90 48.42 29.53 36.17 5.06 4.07 (20.6%)
Earnings — 6.27 5.26 — 1.77 2.36 0.39 (0.12) 0.21 (0.05) 0.46 n/m
Cash flow — (17.19) 12.45 (60.68) (14.99) 59.30 89.76 0.86 (18.65) (2.97) 0.47 (19.7%)
Capex — 0.00 (0.56) 0.77 4.07 4.83 4.68 6.62 (3.60) (0.16) 0.33 n/m
Free cash flow — (17.19) 11.88 (59.92) (10.92) 64.13 94.44 7.48 (22.25) (3.13) 0.79 (19.2%)
Book value — 0.00 0.00 30.57 70.42 74.74 70.29 64.53 64.12 17.32 8.56 n/m
Shares, m — 115 115 115 112 131 121 129 141 1,322 2,457 +35.7%
Valuation, ×
Valuation, × P/E — 0.51 0.51 0.51 0.55 5.76 18.18 0.00 56.30 0.00 32.78 9.1
P/S — 0.00 0.00 0.00 0.14 0.14 0.15 0.48 0.31 3.82 3.71 0.6
P/B — 0.00 0.00 0.00 0.29 0.19 0.10 0.22 0.18 1.12 1.76 0.2
EV/Sales — 1.84 1.84 1.84 1.38 1.42 1.42 2.19 2.19 7.66 — 2.4
EV/FCF — (2.70) (2.70) (2.70) (17.70) 2.19 0.73 8.63 (3.55) (12.39) — (3.4)
Cash, $m
Cash, $m Operating cash flow — (1,977) 1,431 (6,979) (1,677) 7,744 10,824 111 (2,630) (3,927) 1,320 +9.0%
Capex — (65) (64) 88 455 631 564 851 (508) (211) 924 +15.9%
Free cash flow — (1,977) 1,367 (6,891) (1,222) 8,375 11,388 962 (3,138) (4,138) 2,245 +9.7%
Balance, $m
Balance, $m Working capital — — — 14,602 24,065 20,551 7,380 6,912 10,670 19,922 12,925 +5.3%
Net debt — — 6,512 13,181 19,367 16,534 7,460 6,467 9,567 21,882 22,204 +18.9%
Shareholders’ equity — — — 3,516 7,882 9,760 8,476 8,302 9,043 22,898 24,311 +36.7%
Returns, %
Returns, % ROA — 0.00 0.00 0.00 0.69 0.88 0.18 (0.08) 0.13 (0.16) 2.78 (0.2) pt
ROIC — — 5.93 3.39 21.86 14.70 2.91 (1.71) 2.24 (0.30) 2.91 (6.2) pt
ROE — 0.00 19.48 0.00 3.47 3.50 0.51 (0.19) 0.33 (0.43) 7.86 (0.4) pt
People
People Employees — — — 20,000 24,000 26,000 18,500 14,700 14,200 23,500 — +2.7%
Revenue/emp, $m — 0.00 0.00 0.25 0.65 0.50 0.32 0.26 0.36 0.28 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Business profile

Updated

Rocket Companies is a Detroit-based financial technology company that helps consumers search for, buy and finance homes. It also offers mortgage servicing, personal finance tools and personal loans. Varun Krishna is its president and chief executive officer.

Its flagship business, Rocket Mortgage, originates mortgages: it works with borrowers to arrange and close home loans. It also services mortgages, collecting payments and helping borrowers manage their loans after closing. A borrower can use Rocket Mortgage’s website or app to apply, upload and sign documents, view statements and make payments.

Where the money comes from and where it goes Fiscal 2022

Fiscal 2022: revenue by segment, and margins
Direct to Consumer 4,780 81.87%
Partner Network 639 10.94%
Other, not broken out 420 7.19%
Gross margin 100.00%
Operating margin 12.71%
Pre-tax margin 12.71%

Revenue by segment since 2018

Rocket Companies, Inc. vs peers in Mortgage Finance (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RKT Rocket Companies, Inc. $42.1B 32.8× 31.0× +104.57% (above 0%: growing) n/m +7,729.63% (above 0%: growing) 100.00% 40.10%
PFSI PennyMac Financial Services, Inc. $3.5B 14.2× 15.8× −25.93% (below 0%: shrinking) −84.29% (below 0%: shrinking) +218.40% (above 0%: growing) 76.86% 14.29% Compare
UWMC UWM Holdings Corporation $2.6B — (loss-making) — (loss-making) −81.06% (below 0%: shrinking) n/m +64.57% (above 0%: growing) 24.81% (192.94%) Compare
WD Walker & Dunlop, Inc. $1.4B — (loss-making) 35.2× −11.62% (below 0%: shrinking) n/m +175.64% (above 0%: growing) 44.82% (10.67%) Compare
VEL Velocity Financial, Inc. $689.0M 6.3× 12.1× +34.05% (above 0%: growing) +3.03% (above 0%: growing) −152.77% (below 0%: shrinking) 0.00% 0.00% Compare
BETR Better Home & Finance Holding Company $360.6M — (loss-making) — (loss-making) +25.81% (above 0%: growing) n/m +136.12% (above 0%: growing) 89.80% 0.00% Compare
ONIT Onity Group Inc. $269.2M 2.0× 13.2× −0.78% (below 0%: shrinking) −80.82% (below 0%: shrinking) +306.19% (above 0%: growing) 100.00% 0.00% Compare
LDI loanDepot, Inc. $211.5M — (loss-making) — (loss-making) +19.39% (above 0%: growing) n/m +589.11% (above 0%: growing) 87.77% 10.45% Compare
GHI Greystone Housing Impact Investors LP $103.1M — (loss-making) 3.2× −7.10% (below 0%: shrinking) n/m −92.85% (below 0%: shrinking) 93.66% 60.90% Compare
Median of peers $524.8M 6.3× 13.2× −3.94% −80.82% +155.88% 82.32% 0.00%

All 13 Mortgage Finance stocks →

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Morgan Stanley Oct 25, 2026 Target cut — —
JPMorgan Oct 25, 2026 Target cut — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 34.07%
Held by the ten largest 18.63%
Holder Shares Stake Change
Capital Group 113.70m 4.02% +110.05m
Vanguard 90.82m 3.21% +2.17m
BlackRock 69.07m 2.44% +2.47m
T. Rowe Price 65.29m 2.31% +22.00m
Fidelity (FMR) 52.06m 1.84% +20.38m
ValueAct Holdings, L.P. 41.67m 1.47% +13.45m
Morgan Stanley 28.54m 1.01% +5.95m
Goldman Sachs 23.23m 0.82% +14.19m
State Street 22.27m 0.79% +722.91k
COOPERMAN LEON G 21.02m 0.74% 0.00
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 29 April 2026

Ownership

Directors and executive officers, together 57.70% of the votes
Dan Gilbert 57.20% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Rocket Companies, Inc. (RKT) Latest News

1 Nov

Impact 3 · · Simply Wall St.

30 Oct

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · MarketBeat

29 Oct

Impact 4 · · Investing.com earnings
Impact 4 · · PR Newswire earnings
Impact 3 · · Business Wire
Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · PR Newswire

27 Oct

Impact 4 · · PR Newswire
Impact 3 · · StockStory

25 Oct

Impact 4 · · 24/7 Wall St.

23 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

22 Oct

Impact 4 · · PR Newswire
Impact 3 · · PR Newswire
Impact 3 · · Insider Monkey

20 Oct

Impact 3 · · PR Newswire

19 Oct

Impact 3 · · PR Newswire

15 Oct

Impact 3 · · Insider Monkey
Impact 3 · · Insider Monkey
Impact 3 · · PR Newswire

14 Oct

Impact 3 · · PR Newswire

13 Oct

Impact 3 · · The Motley Fool

9 Oct

Impact 3 · · Simply Wall St.

8 Oct

Impact 3 · · PR Newswire

7 Oct

Impact 4 · · 24/7 Wall St.

RKT metrics, ten years each

stockrow.com/RKT · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com