Tearsheet

Rocket Companies (RKT)

Market Price (12/4/2025): $19.82 | Market Cap: $41.7 Bil
Sector: Financials | Industry: Commercial & Residential Mortgage Finance

Rocket Companies (RKT)

Market Price (12/4/2025): $19.82
Market Cap: $41.7 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 42%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
1	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments, Smart Buildings & Proptech, and E-commerce & Digital Retail. Themes include Online Banking & Lending, Show more.	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -23%
2		Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 1814%
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 -4.4%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 42%
1	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments, Smart Buildings & Proptech, and E-commerce & Digital Retail. Themes include Online Banking & Lending, Show more.
2	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
3	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -23%
4	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 1814%
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 -4.4%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$19.82	$10.66	$13.70	$6.62	$12.31
Market Cap CYE ($ Bil)	41.7	1.6	1.8	0.8	1.6
Total Debt ($ Bil)	9.8	5.3	5.2	5.9	9.8
Total Cash ($ Bil)	5.8	1.3	1.1	0.7	2.1
Enterprise Value ($ Bil)	45.7	6.9	7.0	6.7	11.4
Valuation Ratios
P/S TTM	7.5	0.3	0.5	0.1	0.1
P/EBIT TTM	0.0	0.0	0.0	0.0	0.0
P/E TTM	-401.8	54.1	-120.1	18.2	5.9
Sector Ratios
P/S TTM (Sector)	3.0	3.1	2.8	2.8	3.4
P/EBIT TTM (Sector)	8.1	8.5	7.5	7.7	7.3
P/E TTM (Sector)	11.7	11.6	10.2	9.4	10.1

	12/4/25	2024	2023
Share Price CYE	$19.82	$10.66	$13.70
Market Cap CYE ($ Bil)	41.7	1.6	1.8
Total Debt ($ Bil)	9.8	5.3	5.2
Total Cash ($ Bil)	5.8	1.3	1.1
Enterprise Value ($ Bil)	45.7	6.9	7.0
Valuation Ratios
P/S TTM	7.5	0.3	0.5
P/EBIT TTM	0.0	0.0	0.0
P/E TTM	-401.8	54.1	-120.1
Sector Ratios
P/S TTM (Sector)	3.0	3.1	2.8
P/EBIT TTM (Sector)	8.1	8.5	7.5
P/E TTM (Sector)	11.7	11.6	10.2

	RKT	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	5.5
Rev Chg Q	141.3%	7.1%
Rev Chg LTM	41.7%	6.1%
Rev Chg 3Y Avg	-0.3%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	-0.9
Net Inc LTM ($ Bil)	-0.1
CFO/Rev LTM	-15.6%	20.5%
Net Inc Mgn	-1.9%	13.1%
VALUATION	HIGH
P/S	7.5	3.2
P/CFO	-48.1	15.8
P/FCF	-32.5	20.5
P/E	-401.8	23.5

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Metric	Value	Date	Source
Mortgage origination closed loan volume	$32.4 billion	9302025	Link
Gain on sale margin	2.80%	9302025	Link
Net mortgage rate lock volume	$35.8 billion	9302025	Link
Servicing portfolio unpaid principal balance	$613 billion	9302025	Link
Number of loans serviced	2.9 million	9302025	Link
Recurring servicing fee income	$1.7 billion (annualized)	9302025	Link
Client retention rate	98%	10302025	Link

Upcoming
2/26/2026	Earnings Release	Rev: - EPS: -

RKT Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The stock of Rocket Companies (RKT) experienced a notable increase during the approximate period from late August 2025 to early December 2025. Several key factors contributed to this upward movement.

1. Anticipation of Rate Cuts and AI Push: Momentum for Rocket Companies was significantly driven by the mounting anticipation of a December rate cut, which could stimulate lending and refinancing activity. Additionally, the company's visible advancements in artificial intelligence at various industry conferences fueled investor optimism regarding its competitive position.

2. Strong Year-to-Date Performance: Rocket Companies' share price surged by nearly 20% in the month leading up to December 2025 and an impressive 84% year-to-date in 2025, outpacing the broader industry.

Stock Movement Drivers

Fundamental Drivers

The 10.2% change in RKT stock from 9/3/2025 to 12/3/2025 was primarily driven by a 1042.1% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	17.88	19.71	10.23%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4625.96	5485.72	18.59%
P/S Multiple	0.66	7.57	1042.05%
Shares Outstanding (Mil)	171.44	2106.23	-1128.56%
Cumulative Contribution			-14029.91%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
RKT	10.2%
Market (SPY)	6.2%	38.3%
Sector (XLF)	0.1%	39.6%

Fundamental Drivers

The 58.1% change in RKT stock from 6/4/2025 to 12/3/2025 was primarily driven by a 1784.0% change in the company's P/S Multiple.

	6042025	12032025	Change
Stock Price ($)	12.47	19.71	58.06%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4585.79	5485.72	19.62%
P/S Multiple	0.40	7.57	1783.97%
Shares Outstanding (Mil)	147.72	2106.23	-1325.85%
Cumulative Contribution			-27726.85%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
RKT	58.1%
Market (SPY)	15.1%	27.0%
Sector (XLF)	5.8%	29.8%

Fundamental Drivers

The 48.3% change in RKT stock from 12/3/2024 to 12/3/2025 was primarily driven by a 1455.5% change in the company's P/S Multiple.

	12032024	12032025	Change
Stock Price ($)	13.29	19.71	48.35%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3871.48	5485.72	41.70%
P/S Multiple	0.49	7.57	1455.50%
Shares Outstanding (Mil)	141.76	2106.23	-1385.74%
Cumulative Contribution			-28438.66%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
RKT	48.3%
Market (SPY)	14.3%	21.7%
Sector (XLF)	7.4%	23.1%

Fundamental Drivers

The 147.7% change in RKT stock from 12/4/2022 to 12/3/2025 was primarily driven by a 6059.1% change in the company's P/S Multiple.

	12042022	12032025	Change
Stock Price ($)	7.96	19.71	147.66%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	7709.24	5485.72	-28.84%
P/S Multiple	0.12	7.57	6059.09%
Shares Outstanding (Mil)	119.02	2106.23	-1669.63%
Cumulative Contribution			-68891.86%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
RKT	111.7%
Market (SPY)	53.2%	24.1%
Sector (XLF)	52.4%	23.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
RKT Return	-	-28%	-46%	107%	-22%	85%	16%
Peers Return	4%	17%	-26%	65%	42%	28%	170%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
RKT Win Rate	25%	50%	42%	50%	42%	70%
Peers Win Rate	55%	63%	38%	57%	50%	40%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
RKT Max Drawdown	-	-28%	-52%	0%	-24%	-9%
Peers Max Drawdown	-53%	-19%	-34%	-11%	-18%	-20%
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, GHI, FNMA.
[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 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	RKT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-84.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	562.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-41.8%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	71.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	123 days	148 days

Compare to ESNT, WD, SNFCA, GHI, FNMA

In The Past

Rocket Companies's stock fell -84.9% during the 2022 Inflation Shock from a high on 3/2/2021. A -84.9% loss requires a 562.4% gain to breakeven.

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About Rocket Companies (RKT)

Rocket Companies, Inc. engages in the tech-driven real estate, mortgage, and e-Commerce businesses in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business. It also offer Core Digital Media, a digital social and display advertiser in the mortgage, insurance, and education sectors; Rocket Solar, which connect homeowners with digital financing solutions through a team of trained solar advisors; Truebill, a personal finance app that helps clients manage every aspect of their financial lives; Lendesk, a technology services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; and Edison Financial, a digital mortgage broker. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in 1985 and is headquartered in Detroit, Michigan. Rocket Companies, Inc. operates as a subsidiary of Rock Holdings, Inc.

AI Generated Analysis | Feedback

Carvana for mortgages
Amazon for home financing
TurboTax for home loans

AI Generated Analysis | Feedback

Mortgage Origination & Servicing: Rocket Companies originates, underwrites, and services residential mortgage loans for home purchases and refinances.
Real Estate Services: Through Rocket Homes, the company provides online real estate listings and connects clients with real estate agents.
Title, Valuation & Closing Services: Amrock offers title insurance, property valuations, and closing services essential for real estate transactions.
Personal Loans: Rocket Loans provides unsecured personal loans for various consumer needs.
Personal Finance Management: Rocket Money is a personal finance app that helps users manage subscriptions, track spending, and build budgets.

AI Generated Analysis | Feedback

Rocket Companies (symbol: RKT) primarily sells its services directly to individuals.

The company serves the following categories of individual customers:

Prospective and Existing Homeowners: Individuals seeking to purchase a new home, refinance an existing mortgage, or obtain a home equity loan through its flagship company, Rocket Mortgage.
Residential Real Estate Buyers and Sellers: Individuals utilizing Rocket Homes for finding real estate agents, searching for properties, or listing their homes for sale.
Vehicle Buyers and Sellers: Individuals engaging with Rocket Auto to buy or sell automobiles online.

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Equifax (EFX)
TransUnion (TRU)
Experian (EXPN.L)
Intercontinental Exchange (ICE)
Amazon (AMZN)

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Varun Krishna, Chief Executive Officer

Varun Krishna was appointed Chief Executive Officer of Rocket Companies in September 2023. He is responsible for guiding business strategy and implementation, and overseeing the integration of Rocket's brands and products. Prior to joining Rocket, Mr. Krishna served as Executive Vice President and General Manager of Intuit Inc.'s Consumer Group from May 2022 to September 2023. He also held roles as Senior Vice President and General Manager of Growth Products and Senior Vice President and General Manager of Mint within Intuit. He joined Intuit in September 2015 as Vice President of Product for TurboTax. Earlier in his career, Mr. Krishna held executive positions at PayPal, Groupon, and BetterWorks, and also spent time at Microsoft overseeing various product lines. He has over 20 years of experience in product development, technology, and leadership.

Brian Brown, Chief Financial Officer and Treasurer

Brian Brown has served as Chief Financial Officer and Treasurer of Rocket Companies since November 2022. In these roles, he is responsible for the accounting, finance, treasury, tax, investor relations, and procurement functions, and oversees internal audit. Mr. Brown was previously Rocket Companies' Chief Accounting Officer since the company's initial public offering in August 2020. From 2014 to 2020, he held a number of roles at Rocket Mortgage, including Senior Vice President of Accounting and Finance. Before his tenure at Rocket, Mr. Brown spent eight years as a senior manager at Ernst & Young, providing consulting services to financial services and mortgage banking clients.

Bill Emerson, President

Bill Emerson is the President of Rocket Companies and a member of its Board of Directors. He previously held the role of Interim Chief Executive Officer from June to September 2023. From February 2017 to May 2023, Mr. Emerson was the Vice Chairman of Rock Holdings, Inc. He also served as Chief Executive Officer of Rocket Mortgage from 2002 to 2017, during which he guided the company through market changes and significant growth. Mr. Emerson brings 30 years of experience at Rocket Companies.

Jay Farner, Former Vice Chairman and Chief Executive Officer

Jay Farner served as the Vice Chairman and Chief Executive Officer of Rocket Companies, a position he held in connection with the company's August 2020 IPO, until his retirement in June 2023. He played an instrumental role in taking Rocket Companies public in 2020. Mr. Farner began his career in 1996 as a mortgage banker at Rock Financial, which later became Quicken Loans and then Rocket Mortgage. During his early career at the company, Rock Financial was acquired by Intuit Inc. in 1999 for $336 million, and subsequently sold back to Dan Gilbert in 2002 for $130 million. Before becoming CEO, he held positions such as President and Chief Marketing Officer of Quicken Loans. Following his retirement from Rocket Companies, Mr. Farner founded Ronin Capital Partners, an investment and management firm based in Metro Detroit, in July 2022. Ronin Capital Partners focuses on providing capital and strategic support across various sectors including real estate, finance, sports, hospitality, technology, and startups, and has invested in dozens of companies.

AI Generated Analysis | Feedback

The increasing trend of large technology companies (e.g., Apple, Google, Amazon) and major fintech platforms (e.g., PayPal, Block/Square) expanding aggressively into financial services, creating "super-apps" that integrate various financial products seamlessly. These entities possess vast customer bases, extensive data, significant capital, and existing trusted ecosystems. Should they decide to directly enter or heavily integrate mortgage origination and lending into their platforms, they could leverage their scale and customer engagement to offer unparalleled convenience, potentially disrupting Rocket Companies' direct-to-consumer model and eroding its customer acquisition advantage through deeply embedded, personalized financial experiences.

AI Generated Analysis | Feedback

Rocket Companies (symbol: RKT) operates in several addressable markets related to homeownership and financial services. The primary markets for their main products and services are sized for the U.S. region as follows:

Mortgage Origination

The U.S. home loan market was valued at approximately USD 2.29 trillion in 2025 and is projected to grow to USD 3.02 trillion by 2030, with a compound annual growth rate (CAGR) of 5.63%. Total U.S. mortgage origination volume is expected to surpass the USD 2 trillion mark by 2026. In the third quarter of 2025, mortgage originations in the United States increased to USD 512.15 billion. The market for purchase mortgages within the U.S. is currently valued at USD 1,145.4 billion.

Real Estate Services

The United States real estate services market was valued at USD 198 billion in 2024 and is projected to reach USD 285 billion by 2032, growing at a CAGR of 4.7% from 2026 to 2032. Another estimate places the U.S. real estate services market at USD 159.42 billion in 2025, with a forecast to reach USD 205.05 billion by 2030. North America held a significant share of the global real estate services market, with the U.S. alone accounting for an estimated USD 31640.35 million in 2024.

Personal Loans

The U.S. personal loans market is estimated to reach USD 133.79 billion in 2025. Globally, the personal loans market was valued at USD 387.37 billion in 2024 and is projected to grow to USD 429.78 billion in 2025, reaching USD 1,094.77 billion by 2032, with a CAGR of 14.29%. As of the second quarter of 2025, Americans collectively owe USD 257 billion in personal loan debt.

Auto Loans

The United States car loan market was valued at USD 595.19 billion in 2025 and is forecasted to reach USD 898.25 billion by 2030, with a CAGR of 5.28%. In 2023, the United States auto finance market reached a valuation of USD 1.6 trillion in outstanding auto loans.

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Expected Drivers of Future Revenue Growth for Rocket Companies (RKT)

Rocket Companies (RKT) is strategically positioning itself for future revenue growth over the next 2-3 years through a combination of inorganic expansion, technological advancements, and a focus on core market opportunities. The following are key expected drivers:

Strategic Acquisitions and Integrated Homeownership Platform: Rocket Companies has recently undertaken significant strategic acquisitions, notably Redfin and Mr. Cooper, to create a comprehensive, integrated homeownership platform. This strategy aims to build an "end-to-end mortgage ecosystem" that combines home search, loan origination, and servicing into a single platform. The consolidation of Redfin's market presence and Mr. Cooper's large servicing portfolio is expected to enhance client recapture, diversify revenue streams, and unlock substantial synergies. This integration is anticipated to drive future revenue by capturing a larger share of the homeownership lifecycle.
AI-Driven Efficiency and Productivity: Artificial intelligence (AI) is a cornerstone of Rocket Companies' growth strategy, aiming to automate tasks, increase productivity, and enhance the client experience. The company has highlighted the deployment of AI tools to save significant team member time, for instance, saving one million hours in mortgage qualification alone in 2024, leading to efficiency gains. These AI-driven efficiencies are expected to allow Rocket to handle higher loan volumes more effectively, with a substantial portion of additional revenue flowing directly to EBITDA, indicating strong operating leverage and future profitability.
Expansion of Servicing Portfolio: Rocket Companies is actively expanding its mortgage servicing portfolio through a combination of self-origination, bulk acquisitions, and strategic partnerships. The servicing portfolio grew significantly in 2024, adding hundreds of thousands of new clients. A larger servicing portfolio provides a stable, recurring revenue stream and offers opportunities to "earn the right to be their lender for life" for these clients, potentially leading to future refinances or new home equity loans. The integration of Mr. Cooper is particularly impactful here, as Mr. Cooper operates with lower servicing costs, which, combined with Rocket's portfolio, is expected to optimize recapture and servicing efficiency.
Growth in Home Equity and Niche Loan Offerings: The company has noted growing demand for its home equity loan offerings, which have registered record quarters. Additionally, there is a focus on specialized loan products like VA loans, particularly in regions with a military presence, indicating a strategy to cater to specific market segments. These targeted offerings represent opportunities for increased origination volume and diversified revenue streams beyond traditional purchase mortgages.
Market Share Gains and Anticipated Market Recovery: Despite challenging market conditions, Rocket Companies has consistently demonstrated its ability to gain market share in both the purchase and refinance segments. The company anticipates continued market share gains, particularly as the broader mortgage market recovers. Analysts forecast that Rocket's revenue will grow faster than the overall U.S. market, partly due to anticipated interest rate cuts and a thawing of the purchase market, which could unlock significant pent-up demand from homebuyers.

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Share Repurchases

Rocket Companies authorized a share repurchase program in November 2020.
As of February 2022, Rocket Companies had returned $4.5 billion to shareholders through dividends and share repurchases since its IPO.
The annual share buybacks for Rocket Companies stock amounted to $177.7 million in 2022.

Share Issuance

Rocket Companies completed its Initial Public Offering (IPO) in August 2020, issuing 100 million shares of Class A common stock at $18.00 per share and raising $1.8 billion.
The IPO was initially set to offer 150 million shares at $20-$22, aiming for $3.2 billion, but the terms were later reduced.
In connection with the Mr. Cooper acquisition, completed on October 1, 2025, each Mr. Cooper share was exchanged for 11 shares of Rocket Companies Class A common stock, increasing Rocket's Class A float to 35%.

Outbound Investments

Rocket Companies completed the acquisition of Redfin on July 1, 2025, aiming to integrate Redfin's home search with Rocket's mortgage lending services.
On October 1, 2025, Rocket Companies completed the all-stock acquisition of Mr. Cooper Group, combining the largest home loan originator with the largest mortgage servicer.
In October 2021, Rocket Mortgage issued $1.15 billion in senior notes due 2026 and $850 million in senior notes due 2033, with proceeds used in part to acquire $948 million in outstanding senior notes through a tender offer and for general corporate purposes.

Capital Expenditures

Rocket Companies' capital expenditure for the trailing twelve months (TTM) ended June 2025 was -$706.69 million.
Capital expenditures are primarily focused on acquiring or upgrading physical assets such as property, industrial buildings, or equipment.
The company has made a $500 million investment in data and AI technology, which is further supported by recent acquisitions.

Better Bets than Rocket Companies (RKT)

	RKT	Better Performance than RKT
Metric	Value	INDUSTRY: Commercial & Residential Mortgage Finance
Rev Chg LTM	41.7%	BLNE (183.2%), BETR (74.8%), UWMC (63.6%), PFSI (50.7%), VEL (43.6%)
Rev Chg 3Y Avg	-0.3%	PFSI (17.6%), NMIH (10.3%), ESNT (8.2%), ACT (3.9%), FMCC (2.9%)
CFO/Rev LTM	-15.6%	FMCC (66.7%), ESNT (66.2%), ACT (57.5%), NMIH (56.8%), FNMA (18.7%)
FCF/Rev LTM	-23.0%	FMCC (66.7%), ESNT (64.8%), ACT (57.5%), NMIH (55.9%), FNMA (18.7%)
Total Yield	-0.3%	FMCC (29.4%), FNMA (21.2%), ACT (13.8%), ESNT (13.3%), PFSI (8.8%)
P/S	7.4	FMCC (1.6), PFSI (1.8), FNMA (2.3), ACT (4.6), ESNT (4.8)

	RKT	Better Performance than RKT
Metric	Value	SECTOR: Financials
Rev Chg LTM	41.7%	NLY (473.5%), HOOD (74.6%), TFC (55.5%), COIN (48.6%), ARES (45.5%)
Rev Chg 3Y Avg	-0.3%	BRK-B (19.8%), JPM (13.4%), MA (13.2%), V (10.9%), BAC (5.2%)
CFO/Rev LTM	-15.6%	V (57.6%), BAC (57.3%), MA (56.1%), BRK-B (9.8%), MS (-5.7%)
FCF/Rev LTM	-23.0%	BAC (57.3%), V (53.9%), MA (52.5%), BRK-B (4.8%), WFC (-17.2%)
Total Yield	-0.3%	BAC (7.7%), JPM (6.7%), BRK-B (6.2%), V (5.3%), MA (2.6%)
P/S	7.4	BRK-B (2.7), WFC (3.2), BAC (3.6), MS (3.9), JPM (4.9)

	RKT	Better Performance than RKT
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	41.7%	APP (86.4%), NVDA (71.6%), MU (48.9%), APH (47.4%), PLTR (47.2%)
Rev Chg 3Y Avg	-0.3%	NVDA (92.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
CFO/Rev LTM	-15.6%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	-23.0%	NVDA (43.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%), AMZN (2.0%)
Total Yield	-0.3%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	7.4	WMT (1.1), XOM (1.4), COST (1.5), AMZN (3.5), JNJ (4.8)

		Best Bets In Financials Sector
	RKT
What You Pay
P/E	-399.6
P/EBIT	�
What You Get
Rev Chg Q	141.3%
Rev Chg LTM	41.7%
Rev Chg 3Y Avg	-0.3%
FCF/Rev 3Y Avg	-42.4%

[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

	Title	Topic	Date
0	DASHBOARDS
1	Would You Still Hold Rocket Companies Stock If It Fell 30%?	Return
2	Rocket Companies (RKT) Operating Cash Flow Comparison	Financials
3	Rocket Companies (RKT) Revenue Comparison	Financials
4	Rocket Companies (RKT) Operating Income Comparison	Financials
5	Rocket Companies (RKT) Net Income Comparison	Financials
6	Rocket Companies (RKT) Tax Expense Comparison	Financials
7	Rocket Companies (RKT) Debt Comparison	Financials
8	Rocket Companies (RKT) EBITDA Comparison	Financials
9	Why Rocket Companies Stock Moved: RKT Stock Has Gained 198% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
10	Rocket Companies (RKT) Valuation Ratios Comparison	Financials
11	ARTICLES
12	Rocket Companies: Path To 2x Growth		September 8th, 2025

	Title
0	DASHBOARDS
1	Would You Still Hold Rocket Companies Stock If It Fell 30%?
2	Rocket Companies (RKT) Operating Cash Flow Comparison
3	Rocket Companies (RKT) Revenue Comparison
4	Rocket Companies (RKT) Operating Income Comparison
5	Rocket Companies (RKT) Net Income Comparison
6	Rocket Companies (RKT) Tax Expense Comparison
7	Rocket Companies (RKT) Debt Comparison
8	Rocket Companies (RKT) EBITDA Comparison
9	Why Rocket Companies Stock Moved: RKT Stock Has Gained 198% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
10	Rocket Companies (RKT) Valuation Ratios Comparison
11	ARTICLES
12	Rocket Companies: Path To 2x Growth

Trade Ideas

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

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WU_11212025_Dip_Buyer_FCFYield	11212025	WU	Western Union	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.4%	3.4%	-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	COIN	Coinbase Global	Monopoly	MY \| 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	9.5%	9.5%	0.0%
PYPL_11142025_Dip_Buyer_FCFYield	11142025	PYPL	PayPal	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper	11142025	V	Visa	Monopoly	MY \| 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	-0.1%	-0.1%	-2.7%
WD_11072025_Dip_Buyer_ValueBuy	11072025	WD	Walker & Dunlop	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.7%	-7.7%	-11.0%
RKT_7312025_Short_Squeeze	07312025	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	33.7%	33.7%	0.0%
RKT_10312024_Short_Squeeze	10312024	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-16.1%	9.3%	-36.1%
RKT_1312024_Short_Squeeze	01312024	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	31.5%	4.3%	-16.5%
RKT_7312023_Short_Squeeze	07312023	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	17.1%	47.8%	-34.0%
RKT_1312023_Short_Squeeze	01312023	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	13.3%	30.8%	-23.4%
RKT_4302022_Short_Squeeze	04302022	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-24.2%	0.7%	-29.0%
RKT_1312021_Short_Squeeze	01312021	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-15.6%	-38.1%	-39.4%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WU_11212025_Dip_Buyer_FCFYield	11212025	WU	Western Union	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.4%	3.4%	-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	COIN	Coinbase Global	Monopoly	MY \| 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	9.5%	9.5%	0.0%
PYPL_11142025_Dip_Buyer_FCFYield	11142025	PYPL	PayPal	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.1%	0.1%	-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper	11142025	V	Visa	Monopoly	MY \| 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	-0.1%	-0.1%	-2.7%
WD_11072025_Dip_Buyer_ValueBuy	11072025	WD	Walker & Dunlop	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.7%	-7.7%	-11.0%
RKT_7312025_Short_Squeeze	07312025	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	33.7%	33.7%	0.0%
RKT_10312024_Short_Squeeze	10312024	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-16.1%	9.3%	-36.1%
RKT_1312024_Short_Squeeze	01312024	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	31.5%	4.3%	-16.5%
RKT_7312023_Short_Squeeze	07312023	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	17.1%	47.8%	-34.0%
RKT_1312023_Short_Squeeze	01312023	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	13.3%	30.8%	-23.4%
RKT_4302022_Short_Squeeze	04302022	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-24.2%	0.7%	-29.0%
RKT_1312021_Short_Squeeze	01312021	RKT	Rocket Companies	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-15.6%	-38.1%	-39.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Rocket Companies

Peers to compare with:

Financials

	RKT	ESNT	WD	SNFCA	GHI	FNMA	Median
Name	Rocket C.	Essent	Walker &.	Security.	Greyston.	Federal .
Mkt Price	19.71	61.88	64.36	8.79	-	10.22	19.71
Mkt Cap	41.5	6.0	2.1	0.2	0.2	60.0	4.1
Rev LTM	5,486	1,290	1,236	341	37	30,100	1,263
Op Inc LTM	-	-	134	-	-	-	134
FCF LTM	-1,264	837	-949	48	34	5,614	41
FCF 3Y Avg	-1,756	798	223	47	24	9,925	135
CFO LTM	-854	854	-937	51	34	5,614	42
CFO 3Y Avg	-1,333	808	237	49	24	9,925	143

Growth & Margins

	RKT	ESNT	WD	SNFCA	GHI	FNMA	Median
Name	Rocket C.	Essent	Walker &.	Security.	Greyston.	Federal .
Rev Chg LTM	41.7%	2.1%	16.0%	5.6%	0.2%	-1.0%	3.9%
Rev Chg 3Y Avg	-0.3%	8.2%	-2.3%	-7.0%	-23.9%	-1.4%	-1.9%
Rev Chg Q	141.3%	-1.3%	15.5%	4.2%	2,767.0%	-1.2%	9.9%
QoQ Delta Rev Chg LTM	18.6%	-0.3%	3.8%	1.1%	23.9%	-0.3%	2.4%
Op Mgn LTM	-	-	10.8%	-	-	-	10.8%
Op Mgn 3Y Avg	-	-	11.4%	-	-	-	11.4%
QoQ Delta Op Mgn LTM	-	-	0.4%	-	-	-	0.4%
CFO/Rev LTM	-15.6%	66.2%	-75.8%	15.0%	91.6%	18.7%	16.8%
CFO/Rev 3Y Avg	-32.3%	67.1%	26.4%	14.5%	56.6%	33.2%	29.8%
FCF/Rev LTM	-23.0%	64.8%	-76.8%	14.1%	91.6%	18.7%	16.4%
FCF/Rev 3Y Avg	-42.4%	66.4%	25.2%	13.9%	55.5%	33.2%	29.2%

Valuation

	RKT	ESNT	WD	SNFCA	GHI	FNMA	Median
Name	Rocket C.	Essent	Walker &.	Security.	Greyston.	Federal .
Mkt Cap	41.5	6.0	2.1	0.2	0.2	60.0	4.1
P/S	7.4	4.8	2.3	0.7	6.5	2.3	3.6
P/EBIT	-	7.2	20.9	7.3	-	-	7.3
P/E	-399.6	8.8	24.3	10.8	28.6	4.7	9.8
P/CFO	-47.8	7.3	-3.0	4.8	7.1	12.6	5.9
Total Yield	-0.3%	13.3%	4.1%	9.3%	19.0%	21.2%	11.3%
Dividend Yield	0.0%	2.0%	0.0%	0.0%	15.5%	0.0%	0.0%
FCF Yield 3Y Avg	-54.6%	13.4%	11.3%	21.6%	8.4%	207.4%	12.3%
D/E	0.2	0.1	1.1	0.5	4.5	59.5	0.8
Net D/E	0.1	-0.9	1.0	0.0	4.3	59.3	0.5

Returns

	RKT	ESNT	WD	SNFCA	GHI	FNMA	Median
Name	Rocket C.	Essent	Walker &.	Security.	Greyston.	Federal .
1M Rtn	16.7%	2.1%	-19.0%	8.5%	-	-9.6%	2.1%
3M Rtn	10.2%	-1.2%	-20.7%	4.6%	-	-14.5%	-1.2%
6M Rtn	58.1%	9.0%	-3.3%	-5.9%	-	20.5%	9.0%
12M Rtn	48.3%	11.1%	-38.9%	-30.9%	-	278.5%	11.1%
3Y Rtn	147.7%	66.3%	-19.6%	57.0%	-	2,171.1%	66.3%
1M Excs Rtn	16.7%	2.1%	-18.9%	8.6%	-	-9.6%	2.1%
3M Excs Rtn	-2.4%	-7.9%	-27.3%	-0.6%	-	-22.7%	-7.9%
6M Excs Rtn	43.3%	-5.7%	-18.0%	-20.6%	-	5.8%	-5.7%
12M Excs Rtn	29.8%	-3.7%	-53.0%	-43.0%	-	213.0%	-3.7%
3Y Excs Rtn	101.3%	-2.5%	-87.8%	-18.9%	-	2,149.9%	-2.5%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	3/3/2025	2/27/2024	3/1/2023	3/1/2022	3/24/2021	8/10/2020
Key Financials
Total Revenue	5,486	4,932	3,646	5,685	12,684	15,464	4,932
Net Income	-102	29	-16	46	308	198	0
EPS	0.09	0.21	-0.12	0.39	2.36	1.77	0.00
Growth Rates
Total Revenue Growth	41.7%	35.3%	-35.9%	-55.2%	-18.0%	213.5%	20.9%
Net Income Growth	-574.9%	289.3%	-133.4%	-84.9%	55.7%	∞%	-
Margins
Net Income Margin	-1.9%	0.6%	-0.4%	0.8%	2.4%	1.3%	0.0%
Cash & Debt
Total Cash	5,836	1,273	1,108	722	2,131	1,971	1,395
Total Debt	9,761	5,336	5,248	5,946	9,775	7,696	5,677
Net Debt / (Cash)	3,925	4,063	4,139	5,224	7,644	5,725	4,282
Cash Flows
Net Cash from Operations	-854	-2,629	110	10,823	7,744	-1,677	-6,979
Free Cash from Operations	-1,264	-3,434	-51	10,716	7,441	-1,784	-7,028
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	178	232	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/8/2025	5/9/2025	3/3/2025	11/12/2024	8/6/2024	5/7/2024	2/27/2024	11/9/2023	8/9/2023	5/10/2023	3/1/2023
Key Financials Quarterly
Total Revenue	1,468	1,303	999	1,716	608	1,262	1,345	655	1,165	1,198	628	442
Net Income	-124	-2	-10	34	-22	1	16	-11	6	7	-19	-18
EPS	-0.06	-0.01	-0.07	0.23	-0.16	0.01	0.12	-0.08	0.05	0.06	-0.15	-0.14
Key Financials TTM
Total Revenue TTM	5,486	4,626	4,586	4,932	3,871	4,428	4,363	3,646	3,433	3,524	3,681	5,685
Net Income TTM	-102	-0	3	29	-15	13	19	-16	-22	-22	-26	46
Growth Rates Quarterly
Total Revenue Growth	141.3%	3.2%	-25.7%	161.8%	-47.8%	5.4%	114.3%	48.1%	-7.3%	-11.5%	-76.1%	-82.1%
Net Income Growth	-462.7%	-237.8%	-164.0%	418.5%	-454.7%	-82.6%	187.5%	39.6%	-10.2%	117.8%	-134.5%	-136.7%
Margins Quarterly
Net Income Margin	-8.4%	-0.1%	-1.0%	2.0%	-3.6%	0.1%	1.2%	-1.6%	0.5%	0.6%	-3.0%	-4.0%
Cash & Debt
Total Cash	5,836	5,091	1,409	1,273	1,228	1,309	861	1,108	957	883	893	722
Total Debt	9,761	9,901	5,600	5,336	6,597	5,993	6,404	5,248	6,337	6,066	7,145	5,946
Net Debt / (Cash)	3,925	4,810	4,191	4,063	5,369	4,684	5,543	4,139	5,379	5,183	6,251	5,224
Cash Flows Quarterly
FCF from Operations	-50	-1,850	-797	1,843	-1,337	-122	-3,013	1,394	328	-281	-1,331	1,219
Cash Flows TTM
FCF from Operations TTM	-854	-2,141	-414	-2,629	-3,079	-1,413	-1,571	110	-65	2,626	720	10,823
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	12
Return on Invested Capital (ROIC) Quarterly
ROIC	-3.9%	0.8%	-18.5%	58.3%	-33.5%	14.1%	19.7%	-20.8%	8.1%	10.1%	-25.1%	-35.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.3%	-0.1%	2.9%	14.3%	-4.3%	7.0%	5.3%	-8.7%	-11.4%	-12.2%	-11.3%	12.7%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Direct to Consumer	2,989	4,780	10,581	11,722	4,191
Partner Network	439	639	1,766	3,180	596
All Other	371	420	567	748	330
Total	3,799	5,838	12,914	15,650	5,117

Price Behavior

Price Behavior

Market Price	$19.71
Market Cap ($ Bil)	41.5
First Trading Date	08/06/2020
Distance from 52W High	-6.9%
	50 Days	200 Days
DMA Price	$17.60	$15.46
DMA Trend	up	down
Distance from DMA	12.0%	27.5%
	3M	1YR
Volatility	51.9%	62.1%
Downside Capture	102.11	121.75
Upside Capture	118.74	145.00
Correlation (SPY)	39.2%	21.7%

RKT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.03	1.69	1.78	1.40	0.68	1.08
Up Beta	3.39	4.24	4.35	3.82	0.41	0.74
Down Beta	2.58	0.53	0.95	0.28	0.03	0.37
Up Capture	550%	148%	161%	164%	207%	656%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	12	23	32	67	120	369
Down Capture	190%	143%	130%	64%	117%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	8	19	30	57	127	374

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

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of RKT With Other Asset Classes (Last 1Y)
	RKT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	45.2%	5.7%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	61.8%	19.2%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	0.84	0.16	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		23.4%	21.7%	-1.4%	-4.8%	36.3%	10.5%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of RKT With Other Asset Classes (Last 5Y)
	RKT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.4%	15.3%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	63.8%	18.9%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.28	0.67	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		24.8%	32.6%	9.1%	2.8%	38.4%	14.4%

Based On 10-Year Data

		Comparison of RKT With Other Asset Classes (Last 10Y)
	RKT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.6%	12.5%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	65.0%	22.4%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.28	0.52	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		25.2%	34.1%	9.1%	3.3%	38.9%	14.4%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	39,220,137
Short Interest: % Change Since 10312025	-15.2%
Average Daily Volume	41,729,031
Days-to-Cover Short Interest	1
Basic Shares Quantity	2,106,227,188
Short % of Basic Shares	1.9%

Returns Analyses

	Title
0	Would You Still Hold Rocket Companies Stock If It Fell 30%?

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8082025	10-Q 6/30/2025
3312025	5092025	10-Q 3/31/2025
12312024	3032025	10-K 12/31/2024
9302024	11122024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5072024	10-Q 3/31/2024
12312023	2272024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8092023	10-Q 6/30/2023
3312023	5102023	10-Q 3/31/2023
12312022	3012023	10-K 12/31/2022
9302022	11092022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5102022	10-Q 3/31/2022
12312021	3012022	10-K 12/31/2021

Industry Resources

Financials Resources

Federal Reserve Economic Data

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Rocket Companies (RKT)

Market Price (12/4/2025): $19.82 | Market Cap: $41.7 BilSector: Financials | Industry: Commercial & Residential Mortgage Finance

Rocket Companies (RKT)

Market Price (12/4/2025): $19.82Market Cap: $41.7 BilSector: FinancialsIndustry: Commercial & Residential Mortgage Finance

Valuation, Metrics & Events

RKT Stock

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About Rocket Companies (RKT)

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Market Price (12/4/2025): $19.82 | Market Cap: $41.7 Bil
Sector: Financials | Industry: Commercial & Residential Mortgage Finance

Market Price (12/4/2025): $19.82
Market Cap: $41.7 Bil
Sector: Financials
Industry: Commercial & Residential Mortgage Finance