At a glance
Rocket Companies Inc is worth $33.60B. Revenue grew 31.2% to $6.70B in fiscal 2025, at a loss; over 5 years it has grown 15.6% a year. It pays no dividend; it spent $409.3M buying back its shares over FY2021–FY2025. The stock returned −34.8% over the past year with dividends reinvested and −3.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 54.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 15 months after the low.
The business in plain English
Rocket Companies is a Detroit-based financial technology company built around buying, financing and owning a home. Its flagship, Rocket Mortgage, was the nation's largest mortgage lender by number of loans and its largest mortgage servicer (the firm that collects borrowers' monthly payments), with $2.1 trillion in unpaid loan balances as of December 31, 2025. Rocket bought Redfin, a digital real estate brokerage, on July 1, 2025, and mortgage servicer and lender Mr. Cooper on October 1, 2025.
Rocket earns money in four main ways. It books a "gain on sale" when it makes a mortgage and sells it to investors, and it collects interest while it holds loans before selling them. Servicing brings recurring fees for the life of each loan, plus late fees and other charges. Other income comes from Rocket Close (title, closing and appraisals), Redfin brokerage, paid subscribers to the Rocket Money budgeting app, Rocket Loans personal loans and interest on cash deposits. Revenue was $6.7 billion in fiscal 2025, up 31.2%.
New loans arrive through two reported segments. Direct to Consumer covers borrowers who apply through Rocket's app, website or mortgage bankers. Partner Network covers loans from independent mortgage brokers using Rocket Pro, from banks and consumer companies that offer Rocket mortgages to their customers, and loans bought from other lenders.
Price history
The interactive chart needs JavaScript.
RKT -34.8% over the year to Oct 27, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $3.28B, up 93.7% from a year earlier, and net income was $709.0M.
- For fiscal 2025, revenue was $6.70B (+31.2% year over year; -15.6% a year from FY2020 to FY2025) with a -1% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | -15.6% weak |
|---|---|
| Free cash flow margin | -60% weak |
| Return on equity (FY2025) | -0.3% weak |
| Return on assets (FY2025) | -0.1% weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $15.65B | $198.0M | $-1.78B |
| FY2021 | $12.91B | $308.2M | $7.63B |
| FY2022 | $5.84B | $46.4M | $10.73B |
| FY2023 | $3.80B | $-16.0M | $51.0M |
| FY2024 | $5.10B | $29.0M | $-2.70B |
| FY2025 | $6.70B | $-68.0M | $-4.02B |
Valuation snapshot
| Market value | $33.60B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RKT price data to Oct 27, 2026 | -38.8% | -34.8% | +19.6% | -3.4% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -38.8% |
| 2025 | +81.5% |
| 2024 | -22.2% |
| 2023 | +106.9% |
| 2022 | -45.9% |
| 2021 | -27.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 50.6% over that stretch · deepest drop along the way 54.3%, back to its old high 14.6 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 3 sales ($5.7M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 15, 2026 | Jesse K Bray Pres & CEO, Rocket Mortgage, Director | sell (plan) | $2.9M |
| Oct 1, 2026 | Jesse K Bray Pres & CEO, Rocket Mortgage, Director | sell (plan) | $1.6M |
| Oct 2, 2026 | Jesse K Bray Pres & CEO, Rocket Mortgage, Director | sell (plan) | $1.1M |
Who owns it
Large shareholders (13G filings)
| TIAA-CREF Investment Management LLC | 9.38% | Sep 30, 2025 |
| College Retirement Equities Fund Growth Account | 8.12% | Sep 30, 2025 |
| TIAA-CREF Investment Management, LLC | 7.87% | Aug 29, 2025 |
| Capital World Investors | 7.1% | Jun 30, 2026 |
| College Retirement Equities Fund-Growth Account | 6.83% | Aug 29, 2025 |
| T. Rowe Price Associates, Inc. | 5.6% | Jun 30, 2026 |
| FMR LLC | 5.4% | Jun 30, 2026 |
| Vanguard Capital Management | 4.32% | Sep 30, 2026 |
| JPMORGAN CHASE & CO. | 3.3% | Jul 31, 2025 |
| Teachers Advisors, LLC | 2.66% | Sep 30, 2025 |
| TIAA CREF INVESTMENT MANAGEMENT LLC | 2.6% | Oct 31, 2025 |
| College Retirement Equities Fund- Growth Account | 2.23% | Oct 31, 2025 |
| Slate Path Capital LP | 2% | Sep 30, 2025 |
| Boston Partners | 1.35% | Dec 31, 2025 |
| Teachers Advisors LLC | 0.83% | Oct 31, 2025 |
| Nuveen Asset Management, LLC | 0.01% | Oct 31, 2025 |
ETFs with the most weight in RKT
| PTEC Global X PropTech ETF | 2.77% |
| DFNL Davis Select Financial ETF | 2.36% |
| DEEP Acquirers Small and Micro Deep Value ETF | 1.09% |
| KBE SPDR S&P Bank ETF | 1.01% |
| MAGA Point Bridge America First ETF | 0.88% |
| KOMP SPDR S&P Kensho New Economies Composite ETF | 0.71% |
| HAPS Harbor Human Capital Factor US Small Cap ETF | 0.57% |
| TPLC Timothy Plan US Large/Mid Cap Core ETF | 0.16% |
What could go wrong
- Big acquisitions may not pay off. Rocket bought Redfin on July 1, 2025, and Mr. Cooper on October 1, 2025. Combining these businesses could disrupt operations, and the deals may not deliver the benefits Rocket intended.
- Dan Gilbert controls the company. Founder and Chairman Dan Gilbert controls Rocket, and his interests may conflict with other shareholders'. As a "controlled company," it can skip some NYSE governance rules, and it may owe him significant tax-benefit payments.
- Servicing brings costly advances and valuation risk. When borrowers miss payments, Rocket must advance money and may recover it slowly or not at all. Its mortgage servicing rights, the value of future servicing fees, rest on assumptions; wrong estimates could force write-downs.
- Short-term credit lines fund new loans. Rocket uses loan funding facilities, a type of short-term credit line, to make mortgages before selling them. If lenders end these lines or collateral values fall and trigger margin calls, cash could run tight.
- Depends on government-sponsored mortgage agencies. Rocket depends on selling loans to a few investors and to Fannie Mae and Freddie Mac, or bundling them into bonds through Ginnie Mae. If that breaks down, it may be unable to lend.
- Interest rates drive the whole business. Rising rates usually cut demand for new mortgages and refinancing. Falling rates can speed up payoffs of loans Rocket services, shrinking servicing income unless it wins those borrowers back with new loans.
Recent events
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Major agreement signed
- Shareholder vote results
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released
For income and retirement investors
Rocket does not pay a dividend; its yield was 0% as of October 27, 2026. It paid $145 million in dividends in fiscal 2021 and $154 million in fiscal 2022, then none in fiscal 2023 through 2025. Buybacks followed suit: $232 million in fiscal 2021, $178 million in fiscal 2022, and none in fiscal 2023 or 2024. An income investor would receive no cash payouts, so any spending money would have to come from selling shares. Rocket also posted a net loss of $68 million in fiscal 2025.
In the 2022 bear market the shares fell 54.3% from a January 4 peak to a September 30 low, then took about 14.6 months to regain that peak, on December 18, 2023. The worst drop since the shares began trading was 82.9%. The price history doesn't reach back to the 2008 crisis or the 2020 COVID crash. A single stock like this carries more risk than a diversified fund.
Questions investors ask
How does Rocket Companies make money?
By making and servicing home loans, plus related services. Rocket Mortgage books a gain when it sells the loans it makes to investors, earns interest while it holds them, and collects recurring fees for servicing loans. Other income comes from title and closing work at Rocket Close, Redfin real estate brokerage, Rocket Money app subscriptions, Rocket Loans personal loans and interest on cash deposits. Revenue was $6.7 billion in fiscal 2025, up 31.2% from the year before.
Does Rocket Companies pay a dividend?
No. Rocket's dividend yield was 0% as of October 27, 2026. The company paid $145 million in dividends in fiscal 2021 and $154 million in fiscal 2022, but none in fiscal 2023, 2024 or 2025. It also made no share buybacks in fiscal 2023 or 2024. For an income investor, that means no cash payments from the shares; any return would come from changes in the share price.
Is Rocket Companies profitable?
Not consistently. Rocket lost $68 million in fiscal 2025, or $0.05 per diluted share, after earning $29 million in fiscal 2024 and losing $16 million in fiscal 2023. The quarter ended September 30, 2026, was stronger: revenue rose 93.7% from a year earlier to $3.28 billion, and net income was $709 million. The year-earlier quarter predates the Mr. Cooper acquisition, which closed on October 1, 2025.
How do interest rates affect Rocket stock?
Heavily. Rocket says its business is significantly affected by interest rates. Higher rates tend to reduce demand for new mortgages and refinancing, cutting into loan sales. Lower rates can boost lending but also lead more borrowers to pay off loans early, shrinking servicing income unless Rocket wins them back. The shares are volatile: their one-year beta, a measure of how much a stock moves relative to the broad market, was 2.18 as of October 27, 2026, and they fell 34.8% over the prior year.
Who controls Rocket Companies?
Founder and Chairman Dan Gilbert. Rocket says it is controlled by Mr. Gilbert and qualifies as a "controlled company" under New York Stock Exchange rules, so it can rely on exemptions from certain corporate governance requirements. Rocket warns that his interests may conflict with those of other shareholders. It may also owe RHI II and Mr. Gilbert significant payments for certain tax benefits it uses. Its organizational documents may also discourage a takeover.