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    Rithm Capital (RITM)

    Market Price (7/22/2026): $9.15 | Market Cap: $5.1 BilSector: Financials | Industry: Mortgage REITs

    Rithm Capital (RITM)

    Market Price (7/22/2026): $9.15
    Market Cap: $5.1 Bil
    Sector: Financials
    Industry: Mortgage REITs

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23%

    Low stock price volatility
    Vol 12M is 23%

    Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.

    Weak multi-year price returns
    2Y Excs Rtn is -36%, 3Y Excs Rtn is -38%

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 563%

    Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -80%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -80%

    Key risks
    RITM key risks include [1] execution challenges in its strategic transition to an asset-light business model, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23%
    1 Low stock price volatility
    Vol 12M is 23%
    2 Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.
    3 Weak multi-year price returns
    2Y Excs Rtn is -36%, 3Y Excs Rtn is -38%
    4 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 563%
    5 Not cash flow generative
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -80%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -80%
    6 Key risks
    RITM key risks include [1] execution challenges in its strategic transition to an asset-light business model, Show more.

    RITM in ETFs

    Weight = RITM's share of each fund

    VTI0.01%
    ITOT0.01%
    IWB0.01%
    IJR0.29%
    VB0.06%
    VIOV0.56%
    IJS0.56%
    SLYV0.56%
    +11 more covered ETFs

    Valuation & Metrics

    FYE: 12/31RITM [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$3.3 Bil—
    FY 2026 Sales$6.0 Bil—
    FY 2027 Sales$6.3 Bil—
    FY 2026 Sales Growth82.8%—
    FY 2027 Sales Growth5.9%8.2%
    EARNINGS
    LTM Net Income (GAAP) [3]$720.9 Mil—
    FY 2026 Net Income (Non-GAAP)$1.3 Bil—
    FY 2027 Net Income (Non-GAAP)$1.3 Bil—
    FY 2027 Net Income Growth4.1%16.4%
    FY 2026 EPS (Non-GAAP)$2.25—
    FY 2027 EPS (Non-GAAP)$2.35—
    FY 2027 EPS Growth4.3%—
    VALUATION
    FY 2026 P/S0.93.2
    FY 2027 P/S0.8—
    FY 2026 P/E4.019.6
    FY 2027 P/E3.8—

    [1] RITM forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 7/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
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    AI Analysis | Feedback

    MetricValueDateSource
    Assets Under Management (AUM)$37 billion10302025Link
    Pro Forma Investable Assets$109 billion10302025Link
    Total Servicing Portfolio (Unpaid Principal Balance)$864 billion10142025Link
    Genesis Capital Loan Originations$1.2 billion10302025Link
    Newrez Origination Funded Production Volume$16.4 billion9302025Link
    Number of Homeowners Served by NewrezOver 4 million10142025Link

    Price Chart

    Recent
    7/02/2026DividendAmount: $0.25
    Payment On: 7/31/2026
    Upcoming
    7/28/2026Earnings ReleaseRev: $1.0 Bil (E)
    EPS: $0.50 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 7/1/2026

    Rithm Capital (RITM) stock has remained largely at the same level since 3/31/2026 because of the following key factors:

    1. Mixed Fiscal Q1 2026 Financial Results.

    Rithm Capital reported a mixed performance for its fiscal first quarter ended March 31, 2026, which likely contributed to the stagnant stock movement in the subsequent period. The company announced an Earnings Per Share (EPS) of $0.51 on April 28, 2026, missing the consensus estimate of $0.53 by $0.02. However, revenue for the quarter reached $1.38 billion, surpassing analysts' expectations of $1.27 billion. This blend of an earnings miss alongside a revenue beat may have created investor uncertainty, curbing significant upward or downward price action. While the company highlighted a 19% annualized operating Return on Equity (ROE) for its Newrez segment and an increase in its asset management platform's Assets Under Management (AUM) to approximately $60 billion following the Crestline acquisition, the overall financial picture provided limited catalysts for substantial stock appreciation.

    2. Persistent High Interest Rate Environment.

    The prevailing "higher for longer" interest rate environment during fiscal Q2 2026 continued to impact the real estate and financial services sectors, to which Rithm Capital is exposed. Elevated short-term rates increase the cost of capital for Mortgage Real Estate Investment Trusts (mREITs) like Rithm Capital, influencing refinancing coupons on maturing debt and affecting long-term Treasury yields that anchor commercial mortgage pricing. This macroeconomic headwind likely weighed on investor sentiment, offsetting potential positive developments and contributing to the stock remaining largely at its level. While some forecasts from late 2025 suggested incremental Fed rate cuts in 2026 could benefit mREITs, rising interest rates were still noted as a primary driver of higher inflation caused by geopolitical events during fiscal Q2 2026.

    Show more
    Updated on 7/1/2026

    Rithm Capital (RITM) stock has remained largely at the same level since 3/31/2026 because of the following key factors:

    1. Mixed Fiscal Q1 2026 Financial Results.

    Rithm Capital reported a mixed performance for its fiscal first quarter ended March 31, 2026, which likely contributed to the stagnant stock movement in the subsequent period. The company announced an Earnings Per Share (EPS) of $0.51 on April 28, 2026, missing the consensus estimate of $0.53 by $0.02. However, revenue for the quarter reached $1.38 billion, surpassing analysts' expectations of $1.27 billion. This blend of an earnings miss alongside a revenue beat may have created investor uncertainty, curbing significant upward or downward price action. While the company highlighted a 19% annualized operating Return on Equity (ROE) for its Newrez segment and an increase in its asset management platform's Assets Under Management (AUM) to approximately $60 billion following the Crestline acquisition, the overall financial picture provided limited catalysts for substantial stock appreciation.

    2. Persistent High Interest Rate Environment.

    The prevailing "higher for longer" interest rate environment during fiscal Q2 2026 continued to impact the real estate and financial services sectors, to which Rithm Capital is exposed. Elevated short-term rates increase the cost of capital for Mortgage Real Estate Investment Trusts (mREITs) like Rithm Capital, influencing refinancing coupons on maturing debt and affecting long-term Treasury yields that anchor commercial mortgage pricing. This macroeconomic headwind likely weighed on investor sentiment, offsetting potential positive developments and contributing to the stock remaining largely at its level. While some forecasts from late 2025 suggested incremental Fed rate cuts in 2026 could benefit mREITs, rising interest rates were still noted as a primary driver of higher inflation caused by geopolitical events during fiscal Q2 2026.

    3. Unchanged Quarterly Dividend Payout.

    Rithm Capital declared an unchanged common stock dividend of $0.25 per share for fiscal Q2 2026, payable on July 31, 2026. This consistent dividend, while providing an attractive trailing twelve-month yield of 10.66% as of June 26, 2026, did not offer an increase that might typically signal strong financial improvement or future growth prospects to income-focused investors. In an environment where the company's EPS had just slightly missed estimates, maintaining the dividend rather than increasing it could be interpreted as a cautious stance, thus failing to ignite significant buying interest and contributing to the stock's relatively flat trend.

    4. Ongoing Housing Market and Mortgage Origination Headwinds.

    The broader housing market faced challenges during the period, impacting Rithm Capital's origination and servicing segments. Housing affordability worsened due to recent interest rate rises, and a "lock-in" effect discouraged homeowners with lower existing mortgage rates from selling and re-entering the market at higher rates. Although Rithm Capital's origination funded production volume increased 31% year-over-year in fiscal Q1 2026, it saw an 18% decrease quarter-over-quarter to $15.5 billion, indicating a slowdown in the immediate past. These market conditions, characterized by sluggish home sales, created an environment where the company's core mortgage-related businesses faced headwinds, limiting their ability to drive substantial stock growth.

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    Stock Movement Drivers

    Fundamental Drivers

    The 1.8% change in RITM stock from 3/31/2026 to 7/21/2026 was primarily driven by a 13.9% change in the company's Total Revenues ($ Mil).
    (LTM values as of)33120267212026Change
    Stock Price ($)8.999.151.8%
    Change Contribution By: 
    Total Revenues ($ Mil)2,8653,26413.9%
    Net Income Margin (%)23.8%22.1%-7.1%
    P/E Multiple7.37.1-3.5%
    Shares Outstanding (Mil)555557-0.3%
    Cumulative Contribution1.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 7/21/2026
    ReturnCorrelation
    RITM1.8% 
    Market (SPY)15.1%37.1%
    Sector (XLF)13.7%57.6%

    Fundamental Drivers

    The -11.5% change in RITM stock from 12/31/2025 to 7/21/2026 was primarily driven by a -25.1% change in the company's Net Income Margin (%).
    (LTM values as of)123120257212026Change
    Stock Price ($)10.339.15-11.5%
    Change Contribution By: 
    Total Revenues ($ Mil)3,0083,2648.5%
    Net Income Margin (%)29.5%22.1%-25.1%
    P/E Multiple6.37.111.9%
    Shares Outstanding (Mil)542557-2.7%
    Cumulative Contribution-11.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    12/31/2025 to 7/21/2026
    ReturnCorrelation
    RITM-11.5% 
    Market (SPY)10.0%42.3%
    Sector (XLF)3.0%51.5%

    Fundamental Drivers

    The -10.6% change in RITM stock from 6/30/2025 to 7/21/2026 was primarily driven by a -14.2% change in the company's Net Income Margin (%).
    (LTM values as of)63020257212026Change
    Stock Price ($)10.239.15-10.6%
    Change Contribution By: 
    Total Revenues ($ Mil)2,7603,26418.3%
    Net Income Margin (%)25.7%22.1%-14.2%
    P/E Multiple7.57.1-6.4%
    Shares Outstanding (Mil)524557-5.9%
    Cumulative Contribution-10.6%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2025 to 7/21/2026
    ReturnCorrelation
    RITM-10.6% 
    Market (SPY)22.1%39.6%
    Sector (XLF)8.4%49.2%

    Fundamental Drivers

    The 29.9% change in RITM stock from 6/30/2023 to 7/21/2026 was primarily driven by a 50.5% change in the company's Net Income Margin (%).
    (LTM values as of)63020237212026Change
    Stock Price ($)7.049.1529.9%
    Change Contribution By: 
    Total Revenues ($ Mil)2,4633,26432.5%
    Net Income Margin (%)14.7%22.1%50.5%
    P/E Multiple9.37.1-24.2%
    Shares Outstanding (Mil)478557-14.1%
    Cumulative Contribution29.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2023 to 7/21/2026
    ReturnCorrelation
    RITM29.9% 
    Market (SPY)74.8%55.7%
    Sector (XLF)73.9%61.4%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    RITM Return17%-14%46%11%10%-11%59%
    Peers Return14%-20%23%5%26%-6%39%
    S&P 500 Return27%-19%24%23%16%9%98%

    Monthly Win Rates [3]
    RITM Win Rate58%42%67%58%50%57% 
    Peers Win Rate57%48%52%60%63%43% 
    S&P 500 Win Rate75%42%67%75%67%43% 

    Max Drawdowns [4]
    RITM Max Drawdown-15%-37%-21%-11%-19%-27% 
    Peers Max Drawdown-15%-38%-29%-14%-18%-22% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: NLY, AGNC, PFSI, STWD, BXMT.
    [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] 2026 data is for the year up to 7/21/2026 (YTD)

    How Low Can It Go

    EventRITMS&P 500
    2025 US Tariff Shock
      % Loss-18.0%-18.8%
      % Gain to Breakeven22.0%23.1%
      Time to Breakeven82 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-20.9%-6.7%
      % Gain to Breakeven26.4%7.1%
      Time to Breakeven84 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-30.6%-24.5%
      % Gain to Breakeven44.0%32.4%
      Time to Breakeven272 days427 days
    2020 COVID-19 Crash
      % Loss-81.0%-33.7%
      % Gain to Breakeven426.4%50.9%
      Time to Breakeven1566 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.1%-19.2%
      % Gain to Breakeven26.8%23.8%
      Time to Breakeven50 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-29.6%-12.2%
      % Gain to Breakeven42.1%13.9%
      Time to Breakeven104 days62 days

    Compare to NLY, AGNC, PFSI, STWD, BXMT

    In The Past

    Rithm Capital's stock fell -18.0% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventRITMS&P 500
    2023 SVB Regional Banking Crisis
      % Loss-20.9%-6.7%
      % Gain to Breakeven26.4%7.1%
      Time to Breakeven84 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-30.6%-24.5%
      % Gain to Breakeven44.0%32.4%
      Time to Breakeven272 days427 days
    2020 COVID-19 Crash
      % Loss-81.0%-33.7%
      % Gain to Breakeven426.4%50.9%
      Time to Breakeven1566 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.1%-19.2%
      % Gain to Breakeven26.8%23.8%
      Time to Breakeven50 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-29.6%-12.2%
      % Gain to Breakeven42.1%13.9%
      Time to Breakeven104 days62 days

    Compare to NLY, AGNC, PFSI, STWD, BXMT

    In The Past

    Rithm Capital's stock fell -18.0% during the 2025 US Tariff Shock. Such a loss loss requires a 22.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Rithm Capital (RITM)

    Rithm Capital (RITM) operates as a real estate investment trust (REIT) in the United States, primarily focused on generating income through investments across the residential housing and mortgage sectors. As a REIT, the company is structured to distribute at least 90% of its taxable income to shareholders, thereby generally avoiding federal corporate income tax.

    The company's core business involves acquiring and managing a diverse portfolio of assets within several key segments, including Origination, Servicing, and Residential Securities. Its main products and services are essentially the financial assets it invests in: mortgage servicing rights (MSRs), direct investments in mortgage origination and servicing companies, residential mortgage-backed securities (RMBS), properties and loans, and consumer loans. Rithm Capital also engages in other opportunistic investments to enhance its portfolio.

    Rithm Capital primarily serves the United States market, leveraging its expertise in real estate and credit. Through its strategic investments in various mortgage-related and credit assets, the company aims to provide stockholders with a return generated from its comprehensive exposure to the U.S. housing and financial markets.

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Rithm Capital (RITM):

    1. Like a specialized residential mortgage bank that's structured as a REIT.

    2. Similar to a Blackstone Group, but entirely focused on investing in residential mortgages and mortgage companies, structured as a REIT.

    3. Imagine a Berkshire Hathaway for the residential mortgage industry, owning lenders, servicers, and mortgage assets, and operating as a REIT.

    AI Analysis | Feedback

    • Mortgage Servicing Rights (MSRs): Rithm Capital invests in the contractual rights to service mortgage loans for lenders.
    • Mortgage Origination: Through its portfolio companies, Rithm Capital originates new mortgage loans for consumers.
    • Mortgage Servicing: Through its portfolio companies, Rithm Capital provides services related to the administration and collection of mortgage payments.
    • Residential Mortgage-Backed Securities (RMBS): The company invests in securities collateralized by residential mortgage loans.
    • Properties and Loans: The company invests in real estate properties and various other loan types.
    • Consumer Loans: The company invests in loans provided directly to consumers for personal use.

    AI Analysis | Feedback

    Rithm Capital (RITM) primarily serves individual customers. Based on its operations through Origination, Servicing, Mortgage Loans, and Consumer Loans segments, its major customer categories are:

    1. Residential Mortgage Borrowers: Individuals and families seeking to obtain new mortgage loans for purchasing homes or refinancing existing mortgages.
    2. Consumer Loan Borrowers: Individuals seeking various types of non-mortgage personal loans.
    3. Existing Homeowners (for Servicing): Individuals who have outstanding mortgage loans (whether originated by Rithm Capital or acquired by the company) and interact with its servicing operations for payment processing, escrow management, and general loan inquiries.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Michael Nierenberg, Chief Executive Officer, President and Chairman

    Mr. Nierenberg was appointed Chief Executive Officer and President of Rithm Capital in November 2013 and Chairman of the Board in May 2016. He has been with the company since 2013. Prior to Rithm Capital, he served as Managing Director and Head of Global Mortgages and Securitized Products at Bank of America Merrill Lynch, joining in November 2008. He previously led Global Securitized Products at J.P. Morgan and was a member of their investment bank's management committee. Mr. Nierenberg spent fourteen years at Bear Stearns in senior leadership positions, including Head of Interest Rate and Foreign Exchange Trading operations, Co-Head of Structured Products, and Co-Head of Mortgage-Backed Securities Trading, and was a member of Bear Stearns's Board of Directors from 2006 to 2008. He also spent seven years at Lehman Brothers, where he was instrumental in building the company's adjustable-rate mortgage business. Mr. Nierenberg became CEO of New Residential (which later became Rithm Capital) when it was a mortgage REIT at Fortress Investment Group, a private equity firm, where he quarterbacked the firm's mortgage-related assets. Rithm Capital originated as a spin-off from Newcastle Investment in 2013, with Mr. Nierenberg serving as its founding CEO.

    Nick Santoro, Chief Financial Officer and Chief Accounting Officer

    Mr. Santoro has served as the Chief Financial Officer, Chief Accounting Officer, and Treasurer of Rithm Capital since 2015. Before joining Rithm Capital, he was the Chief Accounting Officer at FXCM, Inc. from 2012 to September 2015. In this role, he was responsible for directing financial reporting, accounting, tax, and financial planning activities. From 2005 to 2012, Mr. Santoro was employed by Financial Guaranty Insurance Company, where he served as principal financial officer starting in 2008. He is a certified public accountant.

    Varun Wadhawan, Managing Director, Corporate Strategy and M&A

    Mr. Wadhawan has been a Managing Director at Rithm Capital since 2016. He leads Corporate Strategy and Mergers & Acquisitions for the company and has played a key role in the acquisition of various operating businesses. Prior to joining Rithm Capital, he spent 10 years at Bank of America Merrill Lynch in the Financial Institutions Investment Banking Group, where he executed numerous M&A and capital raising transactions. He also previously worked at American Express and KPMG. Mr. Wadhawan received an M.B.A. from Cornell University, is a member of the Institute of Chartered Accountants of India, and holds the Chartered Financial Analyst designation. He originally joined the company as a Managing Director in the Private Equity division of Fortress Investment Group, Rithm Capital's former external manager.

    Charles Sorrentino, Managing Director, Head of Investments

    Mr. Sorrentino has worked for Rithm Capital as a Managing Director since 2015. He serves as the Head of Investments and is responsible for managing all assets under management. Mr. Sorrentino possesses over 20 years of experience in capital markets. He spent 14 years in various senior leadership roles at Bank of America Merrill Lynch, and prior to that, he worked at Prudential Securities. He originally joined the company as a Managing Director in the Private Equity division of Fortress Investment Group, Rithm Capital's former external manager.

    Sanjeev Khanna, Managing Director

    Mr. Khanna is a Managing Director at Rithm Capital. Before joining Fortress Investment Group, Rithm Capital's former external manager, he served as a business leader at Morgan Stanley for over 20 years, working in various structured finance, fixed income, and capital markets groups. Mr. Khanna holds a B.S. in Industrial Engineering from Columbia University.

    AI Analysis | Feedback

    Rithm Capital (RITM) faces several key risks inherent to its business model as a real estate investment trust (REIT) focused on real estate, credit, and financial services.

    Key Risks to Rithm Capital (RITM)

    1. Interest Rate Risk and Market Volatility: As a company that invests significantly in mortgage servicing rights (MSRs), residential mortgage-backed securities (RMBS), and various loans, Rithm Capital's profitability and asset valuations are highly sensitive to changes in interest rates. Rising interest rates can decrease the value of certain mortgage-related assets and increase the company's borrowing costs, while falling interest rates can lead to increased mortgage prepayments, impacting MSR values. The company operates within a volatile market environment where fluctuating stock prices are influenced by various internal and external pressures.
    2. Credit Risk and Housing Market Conditions: Rithm Capital's portfolio includes residential securities, mortgage loans, consumer loans, and single-family rental properties. Consequently, the company is exposed to the performance of the broader housing market and the creditworthiness of borrowers. A downturn in the housing market, characterized by declining property values or increased defaults on mortgage and consumer loans, would directly and negatively impact the value of its investments and could lead to higher credit losses.
    3. High Levels of Debt: Rithm Capital carries significant indebtedness, including senior unsecured notes and non-recourse long-term financing. This substantial debt level can constrain the company's financial flexibility and its ability to react to market changes or pursue new investment opportunities due to associated restrictive covenants. High debt also translates to increased interest expenses, which can reduce profitability and limit the cash flow available for distribution to shareholders.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Rithm Capital (RITM) operates in several addressable markets within the United States, primarily focusing on mortgage-related investments and consumer loans. Here are the estimated market sizes for its main products and services in the U.S.: * Mortgage Origination: The total single-family mortgage origination volume in the U.S. is forecast to increase to $2.2 trillion in 2026. This includes an expected $1.46 trillion in purchase originations and $737 billion in refinance originations for the same year. In the fourth quarter of 2025, U.S. mortgage originations reached $524.42 billion. * Residential Mortgage-Backed Securities (RMBS): The U.S. Mortgage-Backed Securities (MBS) market was estimated at $15.55 trillion in 2025 and is projected to grow to $22.43 trillion by 2030. As of December 31, 2025, the non-agency RMBS market alone had over $1.7 trillion in outstanding securities in the U.S. Total outstanding MBS in the U.S. surpassed $12 trillion in 2021. * Mortgage Servicing Rights (MSRs): The fair value of mortgage servicing rights on bank servicing for other portfolios in the U.S. was $42.62 billion at the end of 2025. The total volume of mortgages banks serviced for others in the U.S. was $2.82 trillion at the end of 2025. * Consumer Loans: The total U.S. consumer debt, which includes mortgages and other consumer loans, amounted to $16.99 trillion as of April 2023. Specifically, the U.S. personal loans market is estimated to gain $148.64 billion in 2026. The broader North American personal loans market, where the U.S. holds a dominant share, was valued at $172.44 billion in 2025 and $192.13 billion in 2026.

    AI Analysis | Feedback

    Rithm Capital (symbol: RITM) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives, primarily focusing on expanding its alternative asset management platform, diversifying its mortgage business, and pursuing strategic acquisitions. Here are 3-5 expected drivers of Rithm Capital's future revenue growth:
    • Expansion of the Alternative Asset Management Platform: Rithm Capital is significantly expanding its asset management capabilities, notably through the acquisition and integration of Sculptor Capital Management and Crestline Management. This strategy focuses on increasing Assets Under Management (AUM) by attracting institutional investors and launching new funds across various strategies, including multi-strategy credit, real estate, and MSR-focused funds. The company is also exploring new investment verticals such as energy transition and infrastructure. This growth in fee-paying AUM is critical to reducing cyclicality and growing stable earnings.
    • Diversification and Growth in Mortgage Origination: The company is re-weighting its mortgage origination channels to diversify volumes away from refinance cycles. This involves a strategic focus on purchase, builder, non-agency (including non-qualified mortgage, jumbo, and DSCR loans), and correspondent channels. Rithm's Newrez unit has shown strong performance, with a focus on non-agency production demonstrating significant year-over-year growth.
    • Consolidation and Scale in Mortgage Servicing: Rithm Capital is committed to growing and consolidating its mortgage servicing business. The acquisition of Specialized Loan Servicing (SLS) significantly expanded its servicing unpaid principal balance (UPB), combining with Newrez and Caliber to create one of the largest non-bank servicers in the U.S.. This consolidation aims to generate scale synergies and enhance servicing EBITDA.
    • Strategic Mergers & Acquisitions and Internal Asset Generation: Rithm Capital actively pursues strategic acquisitions and bolt-on opportunities to widen fee pools and cross-sell opportunities. This includes evaluating targets in specialty servicing, mortgage technology/analytics, and niche credit origination (e.g., single-family rental, small-balance commercial real estate). Furthermore, the company emphasizes internally manufacturing assets, such as non-qualified mortgage loans and residential transitional loans through its Genesis Capital platform, to better manage asset quality and enhance control over asset creation.

    AI Analysis | Feedback

    Share Repurchases

    • In February 2025, Rithm Capital's Board of Directors authorized new stock repurchase programs of up to $200 million for common stock and up to $100 million for preferred stock, valid through December 31, 2025. These new programs replaced previous authorizations of the same amounts that expired at the end of 2024.
    • During the first quarter of 2025, the company redeemed 2,000,000 shares of its Series A preferred stock for $50.0 million.

    Share Issuance

    • In September 2025, Rithm Capital completed a public offering of 7,600,000 shares of its 8.75% Series E Fixed-Rate Cumulative Redeemable Preferred Stock, generating gross proceeds of approximately $190,000,000. The proceeds were intended for investments and general corporate purposes.
    • For the three months ended March 31, 2025, Rithm Capital issued 9.0 million shares of common stock under an "at-the-market" equity offering program, part of an authorization of up to $500.0 million.
    • The number of shares outstanding for Rithm Capital increased by 9.31% to 0.546 billion in 2025, 3.28% to 0.5 billion in 2024, and 0.43% to 0.484 billion in 2023.

    Outbound Investments

    • In December 2025, Rithm Capital completed the acquisition of Crestline Management, L.P., an alternative investment manager with approximately $17 billion in assets under management.
    • Also in December 2025, Rithm Capital finalized the acquisition of Paramount Group, Inc., a real estate investment trust focused on Class A office properties in New York City and San Francisco, for $1.6 billion.
    • In November 2023, Rithm Capital completed the acquisition of Sculptor Capital Management for $720 million.

    Capital Expenditures

    • Rithm Capital's annual capital expenditures were $72.913 million for the period ending December 31, 2025.
    • Annual capital expenditures were $458.236 million in 2024 and $106.351 million in 2023.

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    Peer Comparisons

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    Financials

    RITMNLYAGNCPFSISTWDBXMTMedian
    NameRithm Ca.Annaly C.AGNC Inv.PennyMac.Starwood.Blacksto. 
    Mkt Price9.1522.6510.7883.9916.6016.7916.70
    Mkt Cap5.116.412.14.46.12.85.6
    Rev LTM3,2642,3901,6054,9958225851,998
    Op Inc LTM---552--552
    FCF LTM-2,615-1,581848-4,128420345-618
    FCF 3Y Avg-1,3551,115327-1,989603387357
    CFO LTM-2,613-552848-4,060833345-104
    CFO 3Y Avg-1,3101,996327-1,948758387357

    Growth & Margins

    RITMNLYAGNCPFSISTWDBXMTMedian
    NameRithm Ca.Annaly C.AGNC Inv.PennyMac.Starwood.Blacksto. 
    Rev Chg LTM18.3%173.2%174.8%40.9%-2.7%22.5%31.7%
    Rev Chg 3Y Avg10.0%290.4%127.2%32.7%-9.3%-2.4%21.3%
    Rev Chg Q80.9%85.4%-246.2%-9.6%-4.2%25.5%10.6%
    QoQ Delta Rev Chg LTM13.9%6.8%-10.7%-2.0%-0.9%5.8%2.5%
    Op Inc Chg LTM---19.3%--19.3%
    Op Inc Chg 3Y Avg---7.6%--7.6%
    Op Mgn LTM---11.0%--11.0%
    Op Mgn 3Y Avg---12.2%--12.2%
    QoQ Delta Op Mgn LTM---0.2%--0.2%
    CFO/Rev LTM-80.1%-23.1%52.8%-81.3%101.3%59.0%14.9%
    CFO/Rev 3Y Avg-44.9%-27.5%-41.8%84.2%68.8%27.5%
    FCF/Rev LTM-80.1%-66.2%52.8%-82.6%51.1%59.0%-7.5%
    FCF/Rev 3Y Avg-46.5%-27.5%-42.8%65.6%68.8%27.5%

    Valuation

    RITMNLYAGNCPFSISTWDBXMTMedian
    NameRithm Ca.Annaly C.AGNC Inv.PennyMac.Starwood.Blacksto. 
    Mkt Cap5.116.412.14.46.12.85.6
    P/S1.66.87.50.97.44.95.9
    P/Op Inc---7.9--7.9
    P/EBIT---7.9--7.9
    P/E7.17.58.28.617.327.48.4
    P/CFO-1.9-29.614.3-1.17.38.23.1
    Total Yield27.1%25.6%26.1%13.0%17.0%14.9%21.3%
    Dividend Yield12.9%12.2%14.0%1.4%11.3%11.3%11.8%
    FCF Yield 3Y Avg-26.1%13.6%2.7%-41.9%9.6%12.6%6.2%
    D/E6.92.10.05.92.15.63.9
    Net D/E5.62.1-0.05.72.15.43.7

    Returns

    RITMNLYAGNCPFSISTWDBXMTMedian
    NameRithm Ca.Annaly C.AGNC Inv.PennyMac.Starwood.Blacksto. 
    1M Rtn2.3%5.4%5.0%2.0%2.3%-4.6%2.3%
    3M Rtn-7.6%3.6%2.2%-7.0%-6.3%-13.6%-6.7%
    6M Rtn-16.6%2.0%-1.2%-43.8%-3.6%-8.6%-6.1%
    12M Rtn-15.9%29.4%34.1%-16.6%-6.3%-3.3%-4.8%
    3Y Rtn24.9%68.8%66.0%8.6%8.0%2.6%16.7%
    1M Excs Rtn2.2%5.3%4.9%1.8%2.2%-4.7%2.2%
    3M Excs Rtn-12.5%-2.3%-2.1%-16.2%-12.0%-19.6%-12.3%
    6M Excs Rtn-26.1%-9.0%-11.6%-55.2%-13.5%-18.1%-15.8%
    12M Excs Rtn-34.7%10.7%14.6%-35.0%-25.2%-22.7%-23.9%
    3Y Excs Rtn-38.4%2.9%-1.1%-48.8%-57.6%-61.6%-43.6%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
    Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
    Filing Date5/4/20262/19/202610/31/20258/1/20255/2/20252/18/202511/5/20248/12/20245/3/20242/20/202411/1/20238/4/2023
    Key Financials Quarterly            
    Total Revenue8929007077644931,044487736781367602759
    Net Income1038522231263290122236284-65216380
    EPS0.120.100.360.540.070.510.200.440.54-0.180.400.74
    Key Financials TTM            
    Total Revenue TTM3,2642,8653,0082,7882,7603,0482,3722,4872,5092,1072,1852,210
    Net Income TTM721681887787711932576671815622792722
    Growth Rates Quarterly            
    Total Revenue Growth80.9%-13.7%45.4%3.8%-36.9%184.2%-19.1%-3.0%106.0%-17.4%-4.1%-25.0%
    Net Income Growth62.5%-70.7%82.0%32.3%-77.7%545.5%-43.7%-38.0%211.3%-162.5%47.3%1883.4%
    Margins Quarterly            
    Net Income Margin11.5%9.4%31.3%40.8%12.8%27.8%25.0%32.0%36.4%-17.7%36.0%50.0%
    Cash & Debt            
    Total Cash6,6887,07810,14910,44512,51811,17011,75010,53916,4269,82010,41910,091
    Total Debt35,34635,62332,52031,36832,42332,79329,77730,08429,67326,96324,21823,726
    Net Debt / (Cash)28,65828,54522,37120,92319,90521,62318,02819,54513,24817,14313,79913,635
    Cash Flows Quarterly            
    FCF from Operations101-115-2,042-5571,421-1,753768115-1,315-1,047509-17
    Cash Flows TTM            
    FCF from Operations TTM-2,613-1,292-2,931-121551-2,185-1,479-1,738-1,8696947611,629
    Returns to Shareholders Quarterly            
    Dividends172166161159157156146143143143143143
    Share Repurchases-0-0-0-050-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC1.2%1.0%3.0%4.2%0.8%4.0%0.7%3.5%5.6%-0.6%4.2%7.4%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM2.0%1.9%3.0%2.8%2.6%3.2%2.3%2.5%4.0%2.6%3.8%3.5%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Origination and Servicing3,1353,9702,2083,533 
    Asset Management699542860 
    Investment Portfolio4454361,2611,253 
    Residential Transitional Lending302258   
    Corporate Category1000021
    Mortgage Loans Receivable  2421664
    Consumer Loans    94
    Mortgage servicing rights (MSR) Related Investments    187
    Origination    1,888
    Residential Securities, Properties and Loans    479
    Servicing    835
    Total4,5905,2063,7984,9523,508


    Operating Income by Segment
    $ Mil20152014
    Excess mortgage servicing rights (MSRs)195147
    Servicer Advances70161
    Real Estate Securities5751
    Consumer Loans42141
    Real Estate Loans2444
    Corporate Category-92-79
    Total295465


    Net Income by Segment
    $ Mil20252024202320222021
    Origination and Servicing6258916761,243 
    Investment Portfolio1808072102 
    Residential Transitional Lending89106   
    Asset Management272310 
    Corporate Category-355-265-266-567-204
    Mortgage Loans Receivable  50861
    Consumer Loans    30
    Mortgage servicing rights (MSR) Related Investments    -142
    Origination    419
    Residential Securities, Properties and Loans    167
    Servicing    320
    Total567835533865592


    Assets by Segment
    $ Mil20252024202320222021
    Origination and Servicing27,46032,41813,67212,590 
    Investment Portfolio10,6877,46421,82417,480 
    Asset Management10,4002,5081,6950 
    Residential Transitional Lending4,0573,439   
    Corporate Category4592202841280
    Mortgage servicing rights (MSRs)  2,498  
    Mortgage Loans Receivable   2,3681,684
    Consumer Loans    570
    Mortgage servicing rights (MSR) Related Investments    5,024
    Origination    10,431
    Residential Securities, Properties and Loans    13,226
    Servicing    8,526
    Total53,06346,04939,71732,47939,742


    Price Behavior

    Price Behavior
    Market Price$9.15 
    Market Cap ($ Bil)5.1 
    First Trading Date05/16/2013 
    Distance from 52W High-20.0% 
       50 Days200 Days
    DMA Price$9.07$9.77
    DMA Trenddowndown
    Distance from DMA0.9%-6.3%
     3M1YR
    Volatility22.5%22.9%
    Downside Capture92.8590.60
    Upside Capture33.7450.76
    Correlation (SPY)29.2%39.4%
    RITM Betas & Captures as of 6/30/2026

     1M2M3M6M1Y3Y
    Beta0.180.380.680.800.710.80
    Up Beta-0.190.441.060.940.930.70
    Down Beta0.780.560.360.770.610.88
    Up Capture13%9%37%45%35%44%
    Bmk +ve Days11244067140429
    Stock +ve Days11203462124383
    Down Capture4%47%75%104%92%97%
    Bmk -ve Days10172358112321
    Stock -ve Days10192756120341

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RITM
    RITM-15.5%22.8%-0.81-
    Sector ETF (XLF)8.1%14.6%0.3249.5%
    Equity (SPY)20.3%12.6%1.1939.4%
    Gold (GLD)21.6%28.1%0.6926.3%
    Commodities (DBC)31.4%19.1%1.30-14.5%
    Real Estate (VNQ)15.0%14.0%0.7644.0%
    Bitcoin (BTCUSD)-44.6%42.9%-1.2512.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RITM
    RITM10.3%27.2%0.37-
    Sector ETF (XLF)10.7%18.5%0.4563.9%
    Equity (SPY)12.9%17.1%0.5860.6%
    Gold (GLD)17.3%18.4%0.7613.3%
    Commodities (DBC)8.9%19.5%0.3514.3%
    Real Estate (VNQ)2.9%18.9%0.0560.8%
    Bitcoin (BTCUSD)14.9%53.4%0.4627.0%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with RITM
    RITM7.6%40.1%0.32-
    Sector ETF (XLF)13.7%22.0%0.5654.4%
    Equity (SPY)15.2%17.9%0.7248.1%
    Gold (GLD)11.2%16.1%0.573.6%
    Commodities (DBC)7.2%17.9%0.3217.6%
    Real Estate (VNQ)5.1%20.7%0.2154.1%
    Bitcoin (BTCUSD)58.7%66.2%0.9913.7%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date6302026
    Short Interest: Shares Quantity32.1 Mil
    Short Interest: % Change Since 61520262.4%
    Average Daily Volume5.6 Mil
    Days-to-Cover Short Interest5.7 days
    Basic Shares Quantity556.7 Mil
    Short % of Basic Shares5.8%

    Earnings Returns History

    Updated 6/2/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    4/28/2026-2.7%-4.7%-8.0%
    2/3/20261.4%-1.4%-9.6%
    10/30/20250.5%1.6%4.8%
    7/28/20250.3%-1.1%2.5%
    4/25/20251.3%7.5%7.0%
    2/6/20253.7%3.7%2.9%
    10/29/20242.2%-0.6%6.3%
    7/31/20240.7%-5.0%1.6%
    ...
    SUMMARY STATS   
    # Positive151317
    # Negative9117
    Median Positive1.5%2.5%6.1%
    Median Negative-2.7%-3.5%-8.0%
    Max Positive10.4%7.5%13.7%
    Max Negative-9.3%-14.1%-12.6%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    4/28/2026-2.7%-4.7%-8.0%
    2/3/20261.4%-1.4%-9.6%
    10/30/20250.5%1.6%4.8%
    7/28/20250.3%-1.1%2.5%
    4/25/20251.3%7.5%7.0%
    2/6/20253.7%3.7%2.9%
    10/29/20242.2%-0.6%6.3%
    7/31/20240.7%-5.0%1.6%
    4/30/2024-0.9%0.9%-2.8%
    2/7/2024-3.8%-4.0%3.8%
    10/26/20232.7%6.4%13.7%
    8/2/20231.5%2.3%2.1%
    5/4/2023-0.9%2.5%11.5%
    2/8/20233.0%3.4%-7.7%
    11/2/2022-1.4%0.7%6.3%
    8/2/2022-6.4%-8.8%-12.6%
    5/3/202210.4%3.9%8.4%
    2/8/20227.5%3.0%1.1%
    11/2/20210.3%-1.3%-9.2%
    7/29/20214.2%0.5%11.0%
    5/5/2021-0.8%-3.5%0.5%
    2/9/2021-5.3%-0.4%6.1%
    10/26/2020-9.3%-14.1%11.8%
    7/22/20201.3%0.6%-2.2%
    SUMMARY STATS   
    # Positive151317
    # Negative9117
    Median Positive1.5%2.5%6.1%
    Median Negative-2.7%-3.5%-8.0%
    Max Positive10.4%7.5%13.7%
    Max Negative-9.3%-14.1%-12.6%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    03/31/202605/04/202610-Q
    12/31/202502/19/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/02/202510-Q
    12/31/202402/18/202510-K
    09/30/202411/05/202410-Q
    06/30/202408/12/202410-Q
    03/31/202405/03/202410-Q
    12/31/202302/20/202410-K
    09/30/202311/01/202310-Q
    06/30/202308/04/202310-Q
    03/31/202305/05/202310-Q
    12/31/202202/17/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/05/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    03/31/202605/04/202610-Q
    12/31/202502/19/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/02/202510-Q
    12/31/202402/18/202510-K
    09/30/202411/05/202410-Q
    06/30/202408/12/202410-Q
    03/31/202405/03/202410-Q
    12/31/202302/20/202410-K
    09/30/202311/01/202310-Q
    06/30/202308/04/202310-Q
    03/31/202305/05/202310-Q
    12/31/202202/17/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/05/202210-Q
    03/31/202205/06/202210-Q
    12/31/202102/17/202210-K
    09/30/202111/05/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/06/202110-Q
    12/31/202002/16/202110-K
    09/30/202010/29/202010-Q
    06/30/202007/27/202010-Q
    03/31/202005/11/202010-Q
    12/31/201902/20/202010-K
    09/30/201910/29/201910-Q
    06/30/201908/01/201910-Q

    Insider Activity

    Updated 5/27/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Saltzman, David DirectSell52120269.2580,922748,346409,194Form
    2Zeiden, DavidChief Legal OfficerDirectSell303202610.119,217  Form
    3Zeiden, DavidChief Legal OfficerDirectSell1118202511.1119,285  Form
    4Nierenberg, MichaelChief Executive OfficerTrust for DaughterSell1106202511.00301,548  Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Saltzman, David DirectSell52120269.2580,922748,346409,194Form
    2Zeiden, DavidChief Legal OfficerDirectSell303202610.119,217  Form
    3Zeiden, DavidChief Legal OfficerDirectSell1118202511.1119,285  Form
    4Nierenberg, MichaelChief Executive OfficerTrust for DaughterSell1106202511.00301,548  Form

    Investor Activity (13F)

    Updated Jul 22, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Northern Right Capital Management, L.P.$13.3 Mil4.7%25TRIM -22.8%13F
    Conversant Capital LLC$23.7 Mil3.2%16TRIM -23.2%13F
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Conversant Capital LLC$23.7 Mil3.2%16TRIM -23.2%13F
    Northern Right Capital Management, L.P.$13.3 Mil4.7%25TRIM -22.8%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Conversant Capital LLC$23.7 Mil3.2%16TRIM -23.2%13F
    Northern Right Capital Management, L.P.$13.3 Mil4.7%25TRIM -22.8%13F

    Industry Resources

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