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Investment Highlights Market Valuation Price Chart Return vs. Risk About BETR Interactive Breakdown Better Bets vs. BETR Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Better Home & Finance (BETR)

Market Price (10/31/2025): $74.02 | Market Cap: $1.1 Bil
Sector: Financials | Industry: Commercial & Residential Mortgage Finance

Better Home & Finance (BETR)

Market Price (10/31/2025): $74.02
Market Cap: $1.1 Bil
Sector: Financials
Industry: Commercial & Residential Mortgage Finance

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75%		 Weak multi-year price returns
3Y Excs Rtn is -162%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -161 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -100%
1   Stock price has recently run up significantly
6M Rtn6 month market price return is 383%, 12M Rtn12 month market price return is 347%
2   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -144%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -151%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23%
4   High stock price volatility
Vol 12M is 114%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75%
1 Weak multi-year price returns
3Y Excs Rtn is -162%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -161 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -100%
3 Stock price has recently run up significantly
6M Rtn6 month market price return is 383%, 12M Rtn12 month market price return is 347%
4 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -144%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -151%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23%
6 High stock price volatility
Vol 12M is 114%

Market Valuation & Key Metrics

BETRS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)0.2
Rev Chg Q80.6%6.4%
Rev Chg LTM74.8%5.4%
Rev Chg 3Y Avg36.9%5.3%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.2
CFO LTM ($ Bil)-0.2
Net Inc LTM ($ Bil)-0.2
Op Mgn LTM-100.4%18.7%
CFO/Rev LTM-143.7%20.4%
Net Inc Mgn-125.1%12.8%
VALUATIONHIGH
P/S7.03.2
P/CFO-4.915.5
P/FCF-4.620.6
P/E-5.623.6

BETR Stock

   
   
   
   
   
   
   
Factor Drivers of Stock Movement
The 383.3% change in BETR stock from 5/1/2025 to 10/30/2025 was primarily driven by a 264.5% change in the company's P/S Multiple.

501202510302025Change
Stock Price ($)14.9572.25383.28%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)120.36160.1133.03%
P/S Multiple1.886.85264.46%
Shares Outstanding (Mil)15.1415.19-0.32%
Cumulative Contribution383.27%

LTM = Last Twelve Months as of date shown
The 347.1% change in BETR stock from 10/30/2024 to 10/30/2025 was primarily driven by a 166.1% change in the company's P/S Multiple.

1030202410302025Change
Stock Price ($)16.1672.25347.09%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)92.57160.1172.95%
P/S Multiple2.586.85166.14%
Shares Outstanding (Mil)14.7515.19-2.95%
Cumulative Contribution346.70%

LTM = Last Twelve Months as of date shown
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Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
BETR Return--2%-92%-78%710%-84%
Peers Return65%26%-19%47%20%23%264%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
BETR Win Rate-50%42%50%33%67% 
Peers Win Rate68%68%35%58%57%36% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
BETR Max Drawdown---1%-96%-78%-11% 
Peers Max Drawdown-53%-10%-31%-9%-12%-15% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ESNT, WD, SNFCA, COOP, PFSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

Unique KeyEventBETRS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-99.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven13416.9%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to ESNT, WD, SNFCA, COOP, PFSI


In The Past

Better Home & Finance's stock fell -99.3% during the 2022 Inflation Shock from a high on 8/2/2023. A -99.3% loss requires a 13416.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Better Home & Finance (BETR)

Better Bets than Better Home & Finance (BETR)

 BETRBetter Performance than BETR
MetricValueIndustry (Commercial & Residential Mortg)
Rev Chg LTM74.8%BLNE (183.2%)
Op Mgn LTM-100.4%COOP (25.3%), PFSI (15.3%), WD (10.4%), ONIT (21.1%)
CFO/Rev LTM-143.7%COOP (-2.0%), PFSI (-53.4%), ESNT (66.4%), ACT (57.1%), NMIH (57.9%)
FCF/Rev LTM-151.0%COOP (-28.1%), PFSI (-54.4%), ESNT (65.5%), ACT (57.1%), NMIH (57.0%)
Total Yield-18.3%COOP (4.2%), PFSI (8.7%), ESNT (13.8%), ACT (14.9%), NMIH (13.3%)
 BETRBetter Performance than BETR
MetricValueAll Other Sectors
Rev Chg LTM74.8%NBIS (542.6%), CRDO (175.8%), ALAB (163.8%), EXE (169.1%), SW (163.8%)
Op Mgn LTM-100.4%NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
CFO/Rev LTM-143.7%NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AMZN (18.1%)
FCF/Rev LTM-151.0%NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AMZN (2.0%)
Total Yield-18.3%NVDA (1.8%), AAPL (2.8%), MSFT (3.3%), GOOGL (3.9%), AMZN (3.0%)
 Best Bets In Financials Sector
 BETRDBRG OTF MTG NMIH CACC ENVA FNF ACGL APAM FI
What You Pay           
P/E-5.539.713.28.47.512.310.213.98.610.510.6
P/EBIT-6.964.79.06.45.59.97.88.97.66.15.8
What You Get           
Rev Chg Q80.6%-102.4%1,228.5%-0.7%7.2%8.3%16.3%16.8%22.4%4.4%8.0%
Rev Chg LTM74.8%-84.8%89.0%2.2%10.0%12.5%21.1%7.4%23.5%10.0%6.7%
Rev Chg 3Y Avg�125.8%221.9%1.2%10.1%6.9%23.5%-0.7%29.8%0.2%7.5%
FCF/Rev 3Y Avg�101.2%76.2%62.2%58.8%57.1%54.7%50.8%38.4%29.0%20.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

Trade Ideas

Select past ideas related to BETR. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-14.4%-14.4%-14.4%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		5.9%5.9%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.3%0.3%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.7%-7.7%-7.7%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		15.0%15.0%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield09302025HLNEHamilton LaneDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-14.4%-14.4%-14.4%
CNS_9302025_Dip_Buyer_ValueBuy09302025CNSCohen & SteersDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		5.9%5.9%-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025JKHYJack Henry & AssociatesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.3%0.3%-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025FDSFactSet Research SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.7%-7.7%-7.7%
IBKR_9052025_Quality_Momentum_RoomToRun_10%09052025IBKRInteractive BrokersQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		15.0%15.0%0.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PRAXPraxis Precision Medicines279.1%161.2%
2INBXInhibrx Biosciences131.0%409.8%
3PUMPProPetro99.6%16.2%
4DYNDyne Therapeutics88.4%-0.0%
5VICRVicor85.4%89.2%
6CELCCelcuity74.6%503.2%
7GLUEMonte Rosa Therapeutics73.5%87.5%
8NVTSNavitas Semiconductor72.1%251.8%
9LUMNLumen Technologies70.3%94.7%
10BALYBallys63.4%4.1%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical-62.9%5106.3%
2LRNStride-53.8%-35.8%
3FMCFMC-51.0%-66.6%
4FIFiserv-48.3%-68.3%
5NFENew Fortress Energy-43.6%-91.9%
6VGVenture Global-41.7% 
7OGNOrganon-40.2%-55.0%
8VRNSVaronis Systems-39.5%-21.2%
9ITGRInteger-38.5%-52.2%
10LENZLENZ Therapeutics-37.9%5.5%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1INBXInhibrx Biosciences176.8%409.8%
2PUMPProPetro71.2%16.2%
3RNAAvidity Biosciences43.5%139.6%
4DYNDyne Therapeutics42.8%-0.0%
5GCIGannett39.3%3.8%
6FORMFormFactor38.3%34.7%
7MBXMBX Biosciences35.1%18.2%
8BBNXBeta Bionics33.8% 
9GHGuardant Health33.3%202.5%
10LUMNLumen Technologies32.7%94.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1PMIPicard Medical-75.2%5106.3%
2LRNStride-56.1%-35.8%
3NTLAIntellia Therapeutics-52.6%5.2%
4FMCFMC-48.7%-66.6%
5FIFiserv-47.4%-68.3%
6VRNSVaronis Systems-43.8%-21.2%
7THRYThryv-33.4%-44.8%
8NFENew Fortress Energy-30.5%-91.9%
9AKBAAkebia Therapeutics-29.5%10.5%
10UAMYUnited States Antimony-28.9%371.2%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Better Home & Finance

Financials

BETRESNTWDSNFCACOOPPFSIMedian
NameBetter H.Essent Walker &.Security.Mr. Coop.PennyMac. 
Mkt Price72.2560.6880.048.02-125.3072.25
Mkt Cap1.16.12.70.213.56.54.4
Rev LTM1601,3061,1903413,0953,5821,248
Op Inc LTM-161-124-784549336
FCF LTM-242855-20348-870-1,947-222
FCF 3Y Avg-7859847-920-1,83047
CFO LTM-230867-19151-63-1,911-127
CFO 3Y Avg-79411349627-1,796113

Growth & Margins

BETRESNTWDSNFCACOOPPFSIMedian
NameBetter H.Essent Walker &.Security.Mr. Coop.PennyMac. 
Rev Chg LTM74.8%5.6%14.3%5.6%10.6%50.7%12.4%
Rev Chg 3Y Avg-8.0%-4.5%-7.0%3.3%17.6%3.3%
Rev Chg Q80.6%2.3%17.9%4.2%6.9%40.3%12.4%
QoQ Delta Rev Chg LTM16.7%0.6%4.3%1.1%1.7%7.6%3.0%
Op Mgn LTM-100.4%-10.4%-25.3%15.3%12.9%
Op Mgn 3Y Avg-248.3%-11.7%-26.0%15.2%13.5%
QoQ Delta Op Mgn LTM29.5%-1.1%--0.7%3.1%2.1%
CFO/Rev LTM-143.7%66.4%-16.0%15.0%-2.0%-53.4%-9.0%
CFO/Rev 3Y Avg-66.8%11.9%14.5%28.8%-67.8%14.5%
FCF/Rev LTM-151.0%65.5%-17.0%14.1%-28.1%-54.4%-22.6%
FCF/Rev 3Y Avg-66.1%10.5%13.9%-31.7%-69.1%10.5%

Valuation

BETRESNTWDSNFCACOOPPFSIMedian
NameBetter H.Essent Walker &.Security.Mr. Coop.PennyMac. 
Mkt Cap1.16.12.70.213.56.54.4
P/S6.94.62.20.64.41.83.3
P/EBIT-6.96.921.55.917.211.89.4
P/E-5.58.524.28.823.713.010.9
P/CFO-4.87.0-14.03.9-214.1-3.4-4.1
Total Yield-18.3%13.8%4.1%11.4%4.2%8.7%6.4%
Dividend Yield0.0%2.0%0.0%0.0%0.0%1.0%0.0%
FCF Yield 3Y Avg-13.9%1.7%21.6%-14.9%-37.1%1.7%
D/E0.50.10.70.60.83.00.7
Net D/E0.3-0.90.70.00.82.90.5

Returns

BETRESNTWDSNFCACOOPPFSIMedian
NameBetter H.Essent Walker &.Security.Mr. Coop.PennyMac. 
1M Rtn28.7%-4.5%-4.3%-7.5%-1.1%-4.3%
3M Rtn458.3%8.9%7.6%-5.4%-34.9%8.9%
6M Rtn383.3%7.5%10.0%-17.3%-29.9%10.0%
12M Rtn347.1%1.6%-26.2%-16.0%-25.9%1.6%
3Y Rtn-85.4%63.2%-1.3%48.5%-144.3%48.5%
1M Excs Rtn25.5%-4.1%-7.0%-7.7%--2.1%-4.1%
3M Excs Rtn431.8%-1.5%-1.0%-14.0%-21.7%-1.0%
6M Excs Rtn361.5%-14.3%-11.8%-39.0%-8.2%-11.8%
12M Excs Rtn329.9%-15.7%-43.4%-31.4%-6.8%-15.7%
3Y Excs Rtn-162.2%-6.4%-75.1%-28.5%-90.8%-28.5%

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/13/20255/14/20253/19/202511/14/20248/14/20245/15/20244/8/202411/14/20238/14/20247/24/20237/24/202311/14/2023
Key Financials Quarterly            
Total Revenue51354727281825203324431
Net Income-36-51-59-54-41-51-51-354-44-88-251-227
EPS-2.39-3.33-3.91-3.58-2.74-3.41-3.39-35.63-2.98-5.94-17.03-15.36
Key Financials TTM            
Total Revenue TTM1601371209892961028193272--
Net Income TTM-200-205-206-198-498-500-536-737-609-894--
Growth Rates Quarterly            
Total Revenue Growth80.6%93.8%87.2%33.7%-14.2%-25.5%553.7%-36.5%-84.4%---
Net Income Growth12.3%1.8%-16.4%84.7%6.0%41.2%79.7%-56.2%86.6%---
Margins Quarterly            
Net Income Margin-70.7%-145.3%-125.4%-202.7%-145.5%-286.8%-201.8%-1769.0%-132.8%-363.7%-6509.8%-719.6%
Cash & Debt            
Total Cash222228265262379483529557-225318-
Total Debt57876576865779167067262001,1531,0960
Net Debt / (Cash)35653750339541218814363-928778-
Cash Flows Quarterly            
FCF from Operations-56-57-106-11-221-43-806321-163-41-
Cash Flows TTM            
FCF from Operations TTM-230-394-380-354-281-40-160-120----
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0002-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-4.4%-8.4%-4.5%-10.2%-7.8%-11.3%-8.0%-24.9%--15.5%-20.1%-
Return on Invested Capital (ROIC) TTM            
ROIC TTM-6.6%-7.4%-7.9%-8.8%-11.4%-12.7%-13.9%-17.3%--26.6%--

Price Behavior

BETR Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.910.790.820.661.040.73
Up Beta-3.37-0.750.040.380.760.02
Down Beta-4.60-2.24-3.910.470.960.87
Up Capture1549%1257%1096%490%323%57%
Bmk +ve Days13233574144420
Stock +ve Days12273872123313
Down Capture-1068%-808%-476%-18%94%110%
Bmk -ve Days8192952107330
Stock -ve Days9152551124324

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity806,329
Short Interest: % Change Since 9302025-20.6%
Average Daily Volume1,012,275
Days-to-Cover Short Interest1
Basic Shares Quantity15,187,558
Short % of Basic Shares5.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/13/2024-5.4%-10.0%-17.8%
3/28/2024-8.7%-16.7%-27.1%
11/14/2023-7.8%-11.0%10.2%
8/28/2023-14.3%-32.4%-60.5%
SUMMARY STATS   
# Positive001
# Negative443
Median Positive  10.2%
Median Negative-8.3%-13.8%-27.1%
Max Positive  10.2%
Max Negative-14.3%-32.4%-60.5%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025813202510-Q 6/30/2025
3312025514202510-Q 3/31/2025
12312024319202510-K 12/31/2024
93020241114202410-Q 9/30/2024
6302024814202410-Q 6/30/2024
3312024515202410-Q 3/31/2024
12312023408202410-K 12/31/2023
93020231114202310-Q 9/30/2023
123120227242023S-4/A 12/31/2022

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0PBRA, LLC 9242025Sell47.00453,51121,315,01725,481,003Form
1Narasimhan Prabhu5202025Buy14.1042,352597,163844,802Form
2Bjorgolfsson Thor12162024Sell12.254352710,650,579Form
3Bjorgolfsson Thor12122024Sell12.5416,684209,26710,905,863Form
4Nicholas J. CalamariCAO and Senior Counsel12102024Sell12.641,98125,044 Form

Industry Resources

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