Greystone Housing Impact Investors LP (GHI) vs Rocket Companies, Inc. (RKT)

Greystone Housing Impact Investors LP and Rocket Companies, Inc. are both Mortgage Finance companies. Rocket Companies, Inc. is the larger, with a market value of $31.4B against $115.2M — 272.2× the size. Greystone Housing Impact Investors LP has negative trailing earnings, so its P/E is not meaningful; Rocket Companies, Inc. trades at 71.9×. Rocket Companies, Inc. grew revenue faster over the last twelve months: 98.6% against −13.6%. Rocket Companies, Inc. has the higher net margin (4.77% vs −7.74%) and the lower return on invested capital (0.87% vs 2.87%). Only Greystone Housing Impact Investors LP pays a dividend (13.5%). Across the 19 metrics below, Greystone Housing Impact Investors LP leads on 11 and Rocket Companies, Inc. on 8.

Valuation

Metric GHI RKT Mortgage Finance median
P/E n/m 71.87 6.65
P/S 1.42 3.10 1.42
P/B 0.44 1.30 0.46
Price to free cash flow 6.57 194.75 6.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (4.83%) 1.39% 2.41%
Free cash flow yield 15.21% 0.51% (19.29%)

Profitability

Metric GHI RKT Mortgage Finance median
Gross margin 97.33% 100.00% 84.40%
Operating margin 69.11% 15.84% 12.51%
Net margin (7.74%) 4.77% (0.83%)
Free cash flow margin 21.65% 1.59% (45.06%)
Return on equity (2.32%) 3.04% (1.16%)
Return on assets (0.44%) 1.03% 0.38%
Return on invested capital 2.87% 0.87% 0.36%

Growth

Metric GHI RKT Mortgage Finance median
Revenue growth (TTM) (13.63%) 98.61% 11.44%
EPS growth (last fiscal year) (168.42%) (123.81%) 6.60%
Revenue growth, 5-year CAGR 8.99% (15.62%) (11.16%)
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GHI RKT Mortgage Finance median
Debt to equity 3.80 1.16 1.22
Current ratio 8.88 4.85 1.38
Net debt to EBITDA 17.88 42.57 9.85

Dividend

Metric GHI RKT Mortgage Finance median
Dividend yield 13.48% 0.00% 8.31%
Payout ratio — 0.00 —

Size

Metric GHI RKT Mortgage Finance median
Market cap 115.17m 31.35b 198.15m

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