Rocket Companies, Inc.
- Open
- 13.30
- Day high
- 13.62
- Day low
- 13.27
- Prev close
- 13.05
- Volume
- 17.6M
- Mkt cap
- $38.1B
- P/E (TTM)
- 207.6
- EPS (TTM)
- $0.06
- P/B
- 1.6
- P/S
- 4.5
- Yield
- —
- Per share
- —
Rocket Companies, Inc. (RKT) is a Financial Services company listed on NYSE. The stock is down 12% over the past year. Drillr has 2 published research articles covering RKT.
Rocket Companies, Inc. (RKT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RKT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.12 | $0.15 | +30.4% | $2.9B | +6.7% |
| Oct 30, 2025 | $0.04 | $0.07 | +55.8% | $1.6B | -6.5% |
| Jul 31, 2025 | $0.03 | $0.04 | +46.5% | $1.3B | +2.1% |
| May 8, 2025 | $0.04 | $0.04 | +4.2% | $1.1B | -11.2% |
| Feb 27, 2025 | $0.03 | $0.04 | +45.2% | $1.7B | +49.5% |
| Aug 1, 2024 | $0.05 | $0.06 | +21.9% | $1.3B | +3.6% |
| May 2, 2024 | $0.01 | $0.04 | +550.4% | $1.3B | +31.1% |
| Feb 22, 2024 | $-0.03 | $-0.06 | -100.0% | $771M | +0.3% |
| Nov 2, 2023 | $-0.01 | $-0.01 | -100.0% | $1.2B | +19.4% |
| Aug 3, 2023 | $-0.05 | $-0.02 | +60.0% | $1.2B | +20.9% |
| May 4, 2023 | $-0.10 | $-0.06 | +40.0% | $701M | -9.2% |
| Feb 28, 2023 | $-0.10 | $-0.10 | +0.0% | $517M | -24.4% |
RKT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 11, 2026 | MARINER JONATHAN Ddirector | Grant | 16,312 | — |
| Jun 11, 2026 | Olson Tagardirector | Grant | 11,255 | — |
| Jun 11, 2026 | Rampell Alastairdirector | Grant | 16,312 | — |
| Jun 11, 2026 | SHANK SUZANNE F.director | Grant | 16,312 | — |
| Jun 8, 2026 | Rizik Matthewdirector | Option | 12,261 | — |
| May 7, 2026 | Malhotra Shawnofficer: Chief Technology Officer | Tax | 52,484 | $14.09 |
| Apr 8, 2026 | Malhotra Shawnofficer: Chief Technology Officer | Tax | 13,751 | $15.03 |
| Apr 8, 2026 | Brown Brian Nicholasofficer: President & Chief Fin Officer | Tax | 16,112 | $15.03 |
| Apr 8, 2026 | Banfield William D.officer: Chief Business Officer | Tax | 8,056 | $15.03 |
| Apr 8, 2026 | Mildenhall Jonathanofficer: Chief Marketing Officer | Tax | 12,860 | $15.03 |
| Apr 8, 2026 | Edwards Noah A.officer: Chief Accounting Officer | Tax | 2,302 | $15.03 |
| Apr 8, 2026 | Lovier Heather M.officer: Chief Operating Officer | Tax | 8,056 | $15.03 |
| Apr 2, 2026 | Bray Jesse Kdirector, officer: Pres & CEO, Rocket Mortgage | Tax | 57,200 | $14.25 |
| Mar 10, 2026 | Malhotra Shawnofficer: Chief Technology Officer | Tax | 15,723 | $14.95 |
| Mar 10, 2026 | Bray Jesse Kdirector, officer: Pres & CEO, Rocket Mortgage | Grant | 418,060 | — |
Source: RKT SEC Form 4 filings, latest Jun 11, 2026. For informational purposes only — not investment advice.
See the full RKT insider & 13F page →RKT research & analysis
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Rocket Companies, Inc. company profile
Overview
Rocket Companies, Inc. (NYSE:RKT) is a Detroit-based financial technology company that was founded in 1985 and went public in August 2020. Originally established as Rock Financial Corporation by Dan Gilbert, the company has evolved from a traditional mortgage lender into a comprehensive technology-driven platform serving various aspects of homeownership and personal finance. Rocket Companies operates as the parent company of several well-known brands including Rocket Mortgage, which has become one of the largest mortgage lenders in the United States. The company has positioned itself as a technology-first organization, heavily investing in artificial intelligence and automation to streamline the traditionally complex processes of home buying, mortgage origination, and financial services.
Business
Rocket Companies operates in the financial services sector, specifically focusing on mortgage lending and related real estate services. The mortgage industry serves as an intermediary between homebuyers who need financing and investors who provide capital, with lenders earning fees and interest spreads on loans they originate and service. The company's core offering is Rocket Mortgage, an online mortgage lending platform that allows consumers to apply for, process, and close mortgage loans digitally. This platform handles both purchase mortgages (for buying homes) and refinance mortgages (for replacing existing loans, typically to secure better terms). Rocket Mortgage has become the largest retail mortgage lender in the United States by volume. Beyond mortgage lending, Rocket Companies operates several complementary businesses that create an integrated homeownership ecosystem: 1. Amrock provides title insurance, property valuation, and settlement services - essential components of real estate transactions that ensure clear property ownership and facilitate closings. 2. Rocket Homes operates as a home search platform and real estate agent referral network, helping consumers find properties and connect with real estate professionals. 3. Rocket Auto serves as an automotive retail marketplace, providing digital car buying services and financing solutions. 4. Rocket Loans offers personal loans to consumers for various purposes beyond home purchases. The company operates through two primary segments: Direct to Consumer (approximately 85% of mortgage volume) where Rocket interacts directly with borrowers, and Partner Network (approximately 15% of volume) where the company works with mortgage brokers and other third-party originators. The mortgage business generates roughly 90% of total company revenues, with the remaining 10% coming from ancillary services and newer business lines.
Revenue model
Rocket Companies generates revenue primarily through mortgage origination and servicing activities. The company's main revenue streams include gain-on-sale income from selling mortgages to government-sponsored enterprises like Fannie Mae and Freddie Mac, origination fees charged to borrowers, and servicing fees collected over the life of loans in their servicing portfolio. When Rocket originates a mortgage, it typically sells the loan to investors while retaining the servicing rights, earning an immediate profit (gain-on-sale margin) of approximately 275-300 basis points on each loan. The company then continues to collect monthly servicing fees, typically 25-44 basis points annually, for managing loan payments, customer service, and regulatory compliance throughout the loan's life. This creates both immediate and recurring revenue streams. The company's paying customers are primarily individual homebuyers and homeowners seeking to refinance existing mortgages. In the Partner Network segment, mortgage brokers and other financial institutions also pay fees for access to Rocket's loan origination and processing technology. Several factors significantly impact Rocket's profitability margins. Interest rate movements are the most critical external factor - when rates decline, refinancing activity surges, dramatically increasing loan volumes and revenues. Conversely, rising rates reduce both refinancing and purchase activity. Housing market conditions affect purchase mortgage demand, with factors like home prices, inventory levels, and consumer confidence influencing transaction volumes. Competition intensity directly impacts gain-on-sale margins, as increased competition typically compresses pricing power. The company benefits from industry consolidation, as smaller competitors exit the market during challenging periods, potentially increasing Rocket's market share. Regulatory changes can affect both costs and competitive positioning, while technology investments in AI and automation help reduce processing costs and improve operational efficiency, supporting margin expansion over time.
Competitive moat
Rocket Companies possesses a moderate but meaningful competitive moat built primarily on scale advantages, technology infrastructure, and brand recognition. As one of the largest mortgage originators in the United States, the company benefits from significant economies of scale that allow it to spread fixed technology and compliance costs across a large volume base, creating a cost advantage over smaller competitors. The company's most substantial moat component is its proprietary technology platform, particularly its AI-driven loan origination systems and automated underwriting capabilities. Rocket has invested heavily in building what it calls the "Rocket Superstack" - an integrated technology infrastructure that automates much of the traditionally manual mortgage process. This technology advantage enables faster loan processing, lower operational costs, and improved customer experience compared to traditional lenders still relying on paper-based processes. Data network effects provide another layer of competitive protection. With over 25 million customer accounts and billions of dollars in loan originations, Rocket has accumulated vast datasets that improve its AI algorithms and risk assessment capabilities. This data advantage becomes more valuable as the company processes more loans, creating a self-reinforcing cycle. However, Rocket's moat faces several challenges. The mortgage industry has low switching costs for consumers, who typically shop around for the best rates and terms. Regulatory standardization means that mortgage products are largely commoditized, limiting differentiation opportunities. Additionally, fintech disruption poses a threat as new entrants with innovative technology and venture capital backing enter the market. The company's moat is also vulnerable to interest rate cycles - during periods of rising rates, even the most efficient operators struggle as overall market volumes decline dramatically. While Rocket's technology and scale provide advantages during all market conditions, they cannot fully insulate the company from cyclical industry pressures. Overall, Rocket maintains a solid but not impregnable competitive position that requires continuous technology investment and operational excellence to sustain.
Risks & safety
Rocket Companies presents a moderate margin of safety with mixed financial health indicators that require careful consideration of cyclical risks. **Liquidity and Solvency:** - Cash position of $1.41 billion provides reasonable liquidity buffer - Current ratio of 0.43 indicates potential short-term liquidity concerns - High debt-to-equity ratio of 25.3x reflects significant leverage, though much relates to warehouse lending facilities typical in mortgage banking - Negative free cash flow of -$867 million in Q1 2025 raises concerns about cash burn rate **Valuation Metrics:** - Trading at 3.1x book value suggests premium valuation - Negative EBITDA in recent quarter makes traditional valuation metrics challenging - Historical P/E ratios during profitable periods ranged from 12-18x, indicating reasonable valuations when earnings normalize **Other Considerations:** - Highly cyclical business model creates earnings volatility tied to interest rate environment - Strong market position and scale provide some downside protection - Recent major acquisitions (Redfin, Mr. Cooper) add integration risk but potentially strengthen competitive position - Investment-grade credit rating achieved in 2024 provides some financial credibility The margin of safety is constrained by cyclical earnings volatility and high leverage, though the company's market-leading position and substantial cash reserves provide some protection during downturns.
Recent development
Over the past few years, Rocket Companies has undergone significant strategic transformation, pivoting from a traditional mortgage lender to an AI-powered financial technology platform. The company's most substantial recent development has been its aggressive investment in artificial intelligence and automation technologies, branded as the "Rocket Superstack" and "Rocket Logic" platforms. The AI initiative has yielded measurable results, with the company reporting that AI automation has saved over 1 million team member hours and automated two-thirds of income verifications. Key AI implementations include Navigator AI workflow platform, GenAI-powered chat functionality with 3x higher conversion rates than traditional methods, and automated valuation models for home equity loans. The company has also developed agentic AI tools for mortgage processing and AI-powered call analysis and coaching platforms. In 2024, Rocket completed a major brand refresh, launching the "Own the Dream" campaign and acquiring the rocket.com domain to create a unified homeownership platform. This rebranding effort targets next-generation homebuyers and aims to increase brand awareness beyond traditional mortgage services. The company has significantly expanded its product portfolio, introducing innovative mortgage products like the 1-0 Rate Break program, BUY+ and SELL+ programs for home transactions, and the One+ 1% down payment loan program. Home equity loan volume has more than doubled year-over-year, representing a major growth area as homeowners seek to access equity without refinancing their low-rate primary mortgages. Most recently, Rocket announced two major acquisitions: Redfin (real estate brokerage) and Mr. Cooper (mortgage servicing), which represent strategic moves to expand its presence across the entire homeownership value chain. These acquisitions are designed to increase purchase market share and create more touchpoints with consumers throughout their homeownership journey. The company has also focused heavily on expanding its servicing portfolio, acquiring $21 billion in unpaid principal balance and growing its total servicing portfolio to $593 billion, which provides stable recurring revenue streams and opportunities for client recapture at significantly higher rates than industry averages.
RKT company profile · for informational purposes only — not investment advice.
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