Rocket Companies, Inc. (RKT) Income Statement Analysis

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Complete financial analysis of Rocket Companies, Inc. (RKT) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Rocket Companies, Inc., a leading company in the Financial – Mortgages industry within the Financial Services sector.

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Rocket Companies, Inc. (RKT)

Industry: Financial - Mortgages

Sector: Financial Services

Website: https://www.rocketcompanies.com

About Rocket Companies, Inc.

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.

Metric	2023	2022	2021	2020	2019	2018	2017
Revenue	3.61B	5.68B	12.68B	15.55B	4.98B	4.08B	4.07B
Cost of Revenue	110.27M	94.02M	74.71M	74.32M	74.95M	588.43M	586.83M
Gross Profit	3.50B	5.59B	12.61B	15.47B	4.91B	3.49B	3.49B
Gross Profit Ratio	96.95%	98.35%	99.41%	99.52%	98.50%	85.58%	85.59%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	3.06B	3.70B	4.54B	4.29B	2.77B	2.30B	2.23B
Selling & Marketing	736.68M	945.69M	1.25B	949.93M	905.00M	878.03M	787.84M
SG&A	3.80B	4.65B	5.79B	5.24B	3.67B	3.17B	3.02B
Other Expenses	0.00	3.24B	-18.05B	-701.59M	-339.55M	-214.75M	-215.87M
Operating Expenses	3.80B	5.10B	-12.26B	4.54B	3.33B	-2.65B	2.80B
Cost & Expenses	3.80B	5.10B	-12.26B	4.54B	3.33B	-2.65B	3.39B
Interest Income	327.45M	350.59M	430.09M	329.59M	250.75M	200.93M	159.58M
Interest Expense	359.97M	319.98M	491.89M	431.82M	271.77M	229.35M	180.94M
Depreciation & Amortization	110.27M	94.02M	74.71M	74.32M	74.95M	69.78M	60.46M
EBITDA	67.35M	0.00	0.00	0.00	1.25B	816.36M	870.81M
EBITDA Ratio	1.86%	4.48%	3.91%	2.60%	19.56%	22.60%	25.09%
Operating Income	-294.87M	160.92M	420.95M	330.33M	899.74M	844.88M	952.87M
Operating Income Ratio	-8.16%	2.83%	3.32%	2.12%	18.06%	20.71%	23.40%
Total Other Income/Expenses	-108.03M	-319.98M	-491.89M	-431.82M	-346.72M	-229.35M	-104.61M
Income Before Tax	-402.90M	741.91M	6.18B	9.53B	898.37M	618.10M	771.94M
Income Before Tax Ratio	-11.15%	13.05%	48.76%	61.30%	18.03%	15.15%	18.96%
Income Tax Expense	-12.82M	41.98M	112.74M	132.38M	5.98M	3.24M	1.23M
Net Income	-15.51M	699.93M	6.07B	9.40B	893.75M	612.89M	770.70M
Net Income Ratio	-0.43%	12.31%	47.87%	60.45%	17.94%	15.02%	18.93%
EPS	-2.32	5.80	46.50	83.98	8.90	6.11	7.68
EPS Diluted	-0.15	0.36	3.05	80.86	8.83	6.06	7.43
Weighted Avg Shares Out	128.64M	120.58M	130.58M	111.93M	100.37M	100.37M	100.37M
Weighted Avg Shares Out (Dil)	1.98B	1.97B	1.99B	116.24M	101.21M	101.21M	103.75M

SMGZY vs. RKT: Which Stock Is the Better Value Option?

April 17, 2024zacks.com

Investors interested in stocks from the Technology Services sector have probably already heard of Smiths Group PLC (SMGZY) and Rocket Companies (RKT). But which of these two companies is the best option for those looking for undervalued stocks?

Rocket Companies Introduces Rocket Logic AI Platform to Make Homeownership Faster and Easier

April 9, 2024prnewswire.com

Patented platform simplifies and automates the end-to-end homebuying experience by leveraging generative AI, automation and machine learning DETROIT , April 9, 2024 /PRNewswire/ -- Rocket Mortgage, America's largest retail mortgage lender and a part of Rocket Companies (NYSE: RKT), today...

SMGZY or RKT: Which Is the Better Value Stock Right Now?

April 1, 2024zacks.com

Investors with an interest in Technology Services stocks have likely encountered both Smiths Group PLC (SMGZY) and Rocket Companies (RKT). But which of these two stocks offers value investors a better bang for their buck right now?

Rocket Companies: Market Share Gains Support A Positive Outlook

March 20, 2024seekingalpha.com

RKT's latest quarterly report showed improving profitability and market share gains despite ongoing weakness in the housing market. The company is well-positioned to benefit from an eventual recovery in the demand for mortgage originations and refinancing. We are cautiously bullish...