Rocket Companies
RKT · NYSEMortgage Bankers & Loan Correspondents · Fiscal year ends Dec 31
Rocket Companies reported revenue of $6.7B in the fiscal year ended Dec 2025, up 31.2% from the year before. Net income was −$68M. Operating cash flow of −$3.9B less capital expenditure of $91M left free cash flow of −$4B. Net debt was $7.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $12.9B | $5.8B | $3.8B | $5.1B | $6.7B |
| Gross profit | $8.3B | $2.6B | $1.3B | $2.3B | – |
| Net interest incomeBanks | $169M | $184M | $121M | $98M | $125M |
| Pre-tax income | $6.2B | $742M | −$403M | $668M | −$214M |
| Income tax | $113M | $42M | −$13M | $32M | $20M |
| Net income | $308M | $46M | −$16M | $29M | −$68M |
| Diluted EPS | 2.32 | 0.28 | −0.15 | 0.21 | −0.05 |
| Diluted shares | 1,989M | 1,972M | 1,981M | 141M | 1,322M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $2.1B | $722M | $1.1B | $1.3B | $2.7B |
| Net PP&E | $254M | $274M | $251M | $214M | $260M |
| Goodwill | $1.1B | $1.1B | $1.1B | $1.1B | $10.6B |
| Total assets | $32.8B | $20.1B | $19.2B | $24.5B | $60.7B |
| Long-term debt | – | – | – | – | $10.4B |
| Total liabilities | $23B | $11.6B | $10.9B | $15.5B | $37.8B |
| Shareholders' equity | $9.8B | $8.5B | $8.3B | $9B | $22.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $7.7B | $10.8B | $111M | −$2.6B | −$3.9B |
| Capital expenditure | $118M | $93M | $60M | $68M | $91M |
| Free cash flow | $7.6B | $10.7B | $51M | −$2.7B | −$4B |
| Depreciation & amortisation | $75M | $94M | $88M | $89M | $104M |
| Stock-based compensation | $164M | $216M | $180M | $145M | $343M |
| Acquisitions | $1.2B | $0 | $0 | $0 | $2.3B |
| Share buybacks | $232M | $178M | $0 | $0 | – |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −54.8% | −34.9% | 34.3% | 31.2% |
| EPS growth (YoY) | – | −87.9% | −153.6% | – | −123.8% |
| Gross margin | 63.9% | 44.5% | 34.4% | 45.3% | – |
| Net margin | 2.4% | 0.8% | −0.4% | 0.6% | −1.0% |
| Return on equityBlank when equity is negative | 3.2% | 0.5% | −0.2% | 0.3% | −0.3% |
| Free cash flow margin | 59.0% | 183.8% | 1.3% | −52.9% | −60.0% |
| Cash conversion (CFO ÷ net income) | 25.1x | 233x | −6.94x | −90.7x | 57.8x |
| Debt ÷ equity | – | – | – | – | 0.46x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | – | – | $7.7B |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.