Rocket Companies, Inc. (RKT)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$10.0B

Revenue growth

108.2%

Net income, last twelve months

$471.2M

Earnings per share

$0.14

Operating margin

6.6%

Net margin

4.7%

Free cash flow

-$773.4M

Return on equity

2.0%

Market value

$32.9B

Price to earnings

82.6x

Cash

$3.1B

Debt

$10.8B

Debt to equity

0.46

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 6 August 2026.

• Revenue and net income rose sharply. Total revenue, net was $2,784 million against $1,451 million a year earlier. GAAP net income was $229 million against $34 million, and GAAP diluted EPS was $0.08 against a loss of $0.01.
• Adjusted earnings and EBITDA both higher. Adjusted net income was $441 million against $75 million. Adjusted diluted EPS was $0.16 against $0.04, and adjusted EBITDA was $766 million against $172 million. Year-to-date adjusted EBITDA was $1,504 million.
• Purchase and refinance share at records. Purchase market share rose to 6.2% from 5.5%, and refinance share rose to 14.3% from 12.2%, measured from Q4 2025. Management describes these as record quarterly levels.
• Adjusted revenue below first-quarter level. Adjusted revenue was $2.76 billion, against $2.82 billion in the first-quarter release. Total revenue, net was $2.78 billion against $2.94 billion in that release.
• Mortgage covers origination through servicing. The Mortgage segment combines origination, servicing, title, closing and appraisal. Origination and servicing are linked by a recapture engine that extends client relationships beyond origination.
• Mortgage revenue and contribution higher. Mortgage revenue was $2,274 million against $1,269 million, and contribution margin was $1,174 million against $450 million. Contribution margin is adjusted revenue less directly attributable expenses.
• All Other revenue and contribution higher. All Other revenue was $510 million against $182 million, and contribution margin was $181 million against $70 million. The category covers Redfin brokerage, Rocket Money and Rocket Loans income.
• Direct to Consumer volumes and margin. Direct to Consumer produced $26.0 billion of net rate lock volume and $28.1 billion of closed origination volume, at a 4.13% gain on sale margin.
• Rocket Pro margin lower on Compass investment. Rocket Pro gain on sale margin was 0.69%, which the company attributes to Compass partnership investments that attract new partners. Rocket Pro closed $11.1 billion of origination volume.
• Correspondent volume and margin. Correspondent produced $10.2 billion of net rate lock volume and $10.0 billion of closed volume, at a 0.19% gain on sale margin.
• Home equity lending leadership. Rocket Mortgage is now the nation's number one home equity lender. Since mid-2022 more than 250,000 homeowners have accessed over $24 billion in equity through its home equity loan.
• Rocket Loans volume nearly doubled. Rocket Loans volume nearly doubled year over year in the first half of 2026. Monthly volume hit a record in June, and more than half of loans went to Rocket servicing clients.
• Redfin leads and attach rates at highs. Redfin doubled mortgage leads year over year in June and reached record attach rates. Management credits product integration, proprietary conversion models and offers such as expanded Preferred Pricing.
• Broker tools adopted at record levels. Rocket Pro partners adopted Jupiter and Navigate AI at record levels in Q2. Partners using these tools are growing applications and closings at five times the pace of those who do not.

Company events

The newest 8-K filings of 105 held.

Every filing

The newest filings with the SEC of 226 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

937 funds held it at 30 Jun 2026: 399 added and 255 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• PennyMac Financial Services, Inc. (PFSI): revenue $2.2B, market value $3.3B

What the company does

Rocket Companies is a Detroit-based fintech company with mortgage, real estate and personal finance businesses. Its flagship business, Rocket Mortgage, originates and services home loans, and the company says it is the nation's largest mortgage originator by loan units and the nation's largest mortgage servicer. The company also runs a real estate brokerage, a title and closing business, a personal finance app and a personal loan business. It completed the acquisition of Redfin on 1 July 2025 and the acquisition of Mr. Cooper on 1 October 2025. At 31 December 2025 it had approximately 23,500 team members in the United States, Canada and India.

What it sells

Rocket Mortgage lets clients apply for a mortgage, upload and e-sign documents, receive statements and make monthly payments through its app and website. Redfin is a digital real estate brokerage and home search platform where consumers can search for homes, connect with an agent and obtain mortgage approval. Rocket Close, formerly Amrock, is a national title producer, settlement provider and appraisal management company. Rocket Money is a personal finance app that offers subscription cancellation, budget management and credit score improvement. Rocket Loans offers personal loans, with a focus on prime borrowers.

How loans are originated

Mortgage origination is reported in two segments, Direct to Consumer and Partner Network. In Direct to Consumer, clients deal with Rocket Mortgage digitally or with its mortgage bankers, and the company reaches them through brand campaigns and performance marketing. Servicing and subservicing are fully allocated to this segment.

Partner Network has three channels. Through Rocket Pro, the Wholesale channel, mortgage brokers, community banks and credit unions use Rocket's technology and loan products while keeping their own brand and client relationships. In the Correspondent channel, Rocket acquires loans from third-party originators and financial institutions. The operations acquired from Mr. Cooper and Redfin are managed within these two segments.

Servicing the loans

Rocket keeps the servicing on most loans it sells. In 2025, 91.62% of loans sold were servicing-retained. At 31 December 2025 it serviced 9,460 thousand loans in total, of which 6,585 thousand carried its own mortgage servicing rights and 2,875 thousand were subserviced or temporarily serviced. The weighted average service fee was 0.29%, and the net client retention rate of the servicing portfolio was 97%. The company says it believes this rate correlates with client lifetime value.

How it makes money

The filing names four sources of revenue.

- Gain on sale of loans, net: the main source for origination. It covers the premium on loans sold into the secondary market, the value of servicing rights created at sale, and pipeline and hedging effects. In 2025, 81.94% of loans were sold to government-sponsored enterprises and government programs. - Loan servicing income, net: contractual servicing fees, late fees, modification incentives and per-loan subservicing fees, plus changes in the fair value of mortgage servicing rights. - Interest income, net: interest earned on loans held for sale, less interest paid on funding facilities. - Other income: deposit income, Rocket Close title, closing and appraisal fees, Rocket Money subscriptions, Redfin real estate services, and Rocket Loans interest.

How loans are funded

Rocket funds loans mainly through master repurchase agreements with large global banks and through facilities with the GSEs. At 31 December 2025 it had 38 different funding and financing facilities. Loans are generally financed at approximately 97% to 98% of principal and usually stay in a facility for less than 45 days until they are pooled and sold. The proceeds of those sales repay the facilities.

Rules it works under

Because Rocket is not a depository institution, it needs state licences. It is licensed to originate residential mortgages in all 50 states and the District of Columbia, and to service loans in those places and certain US territories. It also holds licences for debt collection, real estate brokerage, lead generation and its personal loan platform. The CFPB, the GSEs, the FHFA, Ginnie Mae, HUD, the FHA and the VA all shape or review its work. Its Canadian operations are subject to Canadian and provincial rules.

Competition and its people

Rocket competes with large financial institutions, independent mortgage banks and fintech companies on speed, service, retention, brand, loan variety, pricing and access to capital. Home purchases tend to slow in winter in every market it serves.

The company says its culture rests on principles it calls "ISMs", created by founder and Chairman Dan Gilbert. Its Rocket Academy gives team members access to over 500 online programs, and more than 940 team members pursued degrees or certifications in 2025. Rocket Companies was named to Fortune Magazine's list of 100 Best Companies to Work For for 22 consecutive years.

*From Rocket Companies's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1805284/000162828026013283/rkt-20251231.htm)*

From the company's 10-K.