A Business at a Glance
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We are a Detroit‑based fintech company including mortgage, real estate and personal finance businesses with a mission to Help Everyone Home. We are committed to delivering industry-best client experiences through our AI-powered, vertically integrated homeownership ecosystem. Our full suite of products empowers our clients across home search, mortgage finance and servicing, title and closing, financial wellness and personal loans. We believe our widely recognized “Rocket” brand is synonymous with simple, fast and trusted digital experiences. Our flagship business, Rocket Mortgage, is the nation's largest mortgage originator by loan units and the nation's largest mortgage servicer with portfolio unpaid principal balance of $2.1 trillion as of December 31, 2025. Servicing loans provides us with the opportunity to build long-term relationships and continually deliver a seamless experience to our clients.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 125M | 125M | 98M | 121M | 184M | 169M |
| Net Income | -68M | -68M | 29M | -16M | 46M | 308M |
| EPS | $-0.05 | $-0.05 | $0.21 | $-0.15 | $0.28 | $2.32 |
| Free Cash Flow | -4.0B | -4.0B | 2.6B | 51M | 10.7B | 7.6B |
| ROIC | -0.6% | -0.3% | 0.2% | -0.2% | 0.4% | 3.1% |
| Gross Margin | - | - | 2360.2% | 1080.2% | 1411.1% | 4886.9% |
| Debt/Equity | 0.46 | 0.46 | 0.45 | 0.49 | 0.08 | 0.20 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -214M | -214M | 668M | -403M | 742M | 6.2B |
| Operating Margin | -171.2% | -171.2% | 681.6% | -333.1% | 402.8% | 3661.0% |
| ROE | -0.3% | -0.4% | 0.3% | -0.2% | 0.5% | 3.5% |
| Shares Outstanding | 2,820M | 2,820M | 2,820M | 107M | 166M | 133M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 102M | 116M | N/A | 169M | 184M | 121M | 98M | 125M | 125M |
| Gross Margin | 1645.4% | 1810.4% | N/A | 4886.9% | 1411.1% | 1080.2% | 2360.2% | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.7B | 2.1B | 3.2B | 3.4B | 2.8B | 2.3B | 2.3B | 3.3B | 3.3B |
| EBIT | 619M | 904M | 9.5B | 6.2B | 742M | -403M | 668M | -214M | -214M |
| Op. Margin | 609.7% | 780.8% | N/A | 3661.0% | 402.8% | -333.1% | 681.6% | -171.2% | -171.2% |
| Net Income | N/A | N/A | 198M | 308M | 46M | -16M | 29M | -68M | -68M |
| Net Margin | N/A | N/A | N/A | 182.5% | 25.2% | -13.2% | 29.6% | -54.4% | -54.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.0M | 9.0M |
| Returns on Capital | |||||||||
| ROIC | N/A | N/A | 3.3% | 3.1% | 0.4% | -0.2% | 0.2% | -0.3% | -0.6% |
| ROE | N/A | N/A | 3.5% | 3.5% | 0.5% | -0.2% | 0.3% | -0.4% | -0.3% |
| ROA | N/A | N/A | 0.7% | 0.9% | 0.2% | -0.1% | 0.1% | -0.2% | -0.1% |
| Cash Flow | |||||||||
| Op. Cash Flow | 1.4B | -7.0B | 1.7B | 7.7B | 10.8B | 111M | 2.6B | -3.9B | -3.9B |
| Free Cash Flow | 1.4B | -7.0B | 1.6B | 7.6B | 10.7B | 51M | 2.6B | -4.0B | -4.0B |
| Owner Earnings | 1.3B | -7.4B | 1.0B | 7.0B | 10.1B | -157M | 2.4B | -4.6B | -4.6B |
| CapEx | 64M | 49M | 106M | 118M | 93M | 60M | 68M | 91M | 91M |
| Maint. CapEx | 77M | 429M | 498M | 567M | 463M | 88M | 113M | 290M | 290M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 77M | 429M | 498M | 567M | 463M | 88M | 113M | 290M | 290M |
| CapEx/OCF | N/A | N/A | N/A | 1.5% | 0.9% | 54.1% | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 2.0B | 232M | 178M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 13.5% | 17.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 34M | 40M | 136M | 164M | 216M | 180M | 145M | 343M | 343M |
| Debt Repayment | 10M | 0 | 10M | 300M | 75M | 0 | 0 | 319M | 319M |
| Balance Sheet | |||||||||
| Net Debt | -1.0B | 778M | 919M | -240M | -116M | 2.9B | 1.5B | 5.0B | 7.7B |
| Cash & Equiv. | 1.1B | 1.5B | 2.1B | 2.2B | 789M | 1.1B | 1.3B | 2.7B | 2.7B |
| Long-Term Debt | 88M | 196M | 330M | 1.9B | 673M | 203M | 4.0B | 10.4B | 10.4B |
| Debt/Equity | N/A | 0.64 | 0.38 | 0.20 | 0.08 | 0.49 | 0.45 | 0.46 | 0.46 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | N/A | 3.5B | 7.9B | 9.8B | 8.5B | 8.3B | 9.0B | 22.9B | 22.9B |
| Total Assets | 64M | 20.1B | 37.5B | 32.8B | 20.1B | 19.2B | 24.5B | 60.7B | 60.7B |
| Total Liabilities | N/A | 16.6B | 29.7B | 23.0B | 11.6B | 10.9B | 15.5B | 37.8B | 37.8B |
| Intangibles | N/A | 0 | 29M | 148M | 123M | 100M | 91M | 2.2B | 2.2B |
| Retained Earnings | N/A | 0 | 207M | 378M | 300M | 284M | 313M | 124M | 124M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||
| EPS | N/A | N/A | 1.76 | 2.32 | 0.28 | -0.15 | 0.21 | -0.05 | -0.05 |
| Owner EPS | N/A | N/A | 9.28 | 52.76 | 61.16 | -1.47 | 0.84 | -1.62 | -1.62 |
| Book Value | N/A | N/A | 70.08 | 73.43 | 51.09 | 77.83 | 3.21 | 8.12 | 8.12 |
| Cash Flow/Share | N/A | N/A | 14.91 | 58.26 | 65.25 | 1.04 | 0.93 | -1.39 | 0.08 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | N/A | 112.5M | 132.9M | 165.9M | 106.7M | 2.8B | 2.8B | 2.8B |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | 9.8 | 5.6 | 22.4 | N/A | 50.0 | N/A | -308.0 |
| P/FCF | N/A | N/A | 1.2 | 0.2 | 0.1 | 29.7 | 11.6 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 0.2 | 0.2 | 0.1 | 0.2 | 3.3 | 2.4 | 1.9 |
| Price/Sales | N/A | N/A | N/A | 13.0 | 7.8 | 7.7 | 398.8 | 341.1 | 347.4 |
| FCF Yield | N/A | N/A | 81.1% | 443.7% | 1029.6% | 3.4% | 8.6% | -7.3% | -9.3% |
| Market Cap | N/A | N/A | 1.9B | 1.7B | 1.0B | 1.5B | 29.6B | 54.7B | 43.4B |
| Avg. Price | N/A | N/A | 18.47 | 16.58 | 8.67 | 8.71 | 13.86 | 15.12 | 15.40 |
| Year-End Price | N/A | N/A | 17.22 | 12.93 | 6.28 | 14.20 | 10.50 | 19.41 | 15.40 |
Rocket Companies, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 0.7% with a gross margin of 2434.6%. At current prices, the estimated annualized return to fair value is -23.7%.
Rocket Companies, Inc. (RKT) has a 5-year average return on invested capital (ROIC) of 0.7%. This is below average and may indicate limited pricing power.
Rocket Companies, Inc. (RKT) has a market capitalization of $43.4B. It is classified as a large-cap stock.
Rocket Companies, Inc. (RKT) does not currently pay a regular dividend.
Rocket Companies, Inc. (RKT) operates in the Mortgage Bankers & Loan Correspondents industry, within the Financials sector.
Rocket Companies, Inc. (RKT) reported annual revenue of $125 million in its most recent fiscal year, based on SEC EDGAR filings.
Rocket Companies, Inc. (RKT) has a net profit margin of -54.4%. The company is currently unprofitable.
Rocket Companies, Inc. (RKT) generated $-4.0 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Rocket Companies, Inc. (RKT) has a debt-to-equity ratio of 0.46. This indicates a conservatively financed balance sheet.
Rocket Companies, Inc. (RKT) reported earnings per share (EPS) of $-0.05 in its most recent fiscal year.
Rocket Companies, Inc. (RKT) has a return on equity (ROE) of -0.4%. A negative ROE may indicate losses or negative equity.
Rocket Companies, Inc. (RKT) has a 5-year average gross margin of 2434.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 8 years of financial data for Rocket Companies, Inc. (RKT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Rocket Companies, Inc. (RKT) has a book value per share of $8.12, based on its most recent annual SEC filing.