← Rocket Companies, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net Income | — | — | — | — | $46.4m | ($16.0m) | $29.0m | ($68.0m) | |
| Net Income From Continuing Operations | — | — | — | — | $699.9m | ($390.0m) | $636.0m | ($234.0m) | |
| Depreciation and amortization | $76.9m | $75.0m | $74.3m | $74.7m | $94.0m | $110.3m | $112.9m | $290.0m | |
| Depreciation Amortization Depletion | — | — | — | — | $94.0m | $110.0m | $113.0m | $290.0m | |
| Provision for (benefit from) deferred income taxes | $0 | $0 | $66.5m | $48.3m | $36.2m | ($17.8m) | $29.4m | $12.0m | |
| Deferred Income Tax | — | — | — | — | $36.2m | ($18.0m) | $29.0m | $12.0m | |
| Deferred Tax | — | — | — | — | $36.2m | ($18.0m) | $29.0m | $12.0m | |
| Share-based compensation expense | $33.6m | $39.7m | $136.2m | $163.7m | $216.0m | $180.1m | $145.5m | $343.0m | |
| Share-based compensation as consideration for acquisition | — | — | — | — | — | $0 | $0 | $217.0m | |
| Net (loss) income | $614.9m | $897.1m | $9.4b | $6.1b | $699.9m | ($390.1m) | $635.8m | ($234.0m) | |
| Origination of MSRs | ($959.2m) | ($1.8b) | ($3.1b) | ($3.9b) | ($2.0b) | ($1.1b) | ($1.3b) | ($1.7b) | |
| Change in fair value of MSRs | $228.7m | $1.6b | $2.3b | $599.2m | ($259.6m) | $678.7m | $584.4m | $1.7b | |
| Gain on sale of loans excluding fair value of MSRs, net | ($2.0b) | ($3.1b) | ($11.9b) | ($6.6b) | ($1.2b) | ($974.0m) | ($1.7b) | ($2.1b) | |
| Disbursements of mortgage loans held for sale | ($83.6b) | ($144.0b) | ($316.7b) | ($353.0b) | ($134.3b) | ($78.3b) | ($100.5b) | ($129.1b) | |
| Proceeds from sale of loans held for sale | $87.1b | $139.3b | $318.2b | $364.0b | $148.0b | $80.2b | $99.5b | $127.5b | |
| Disbursements of non-mortgage loans held for sale | — | — | — | $0 | $0 | ($163.0m) | ($280.7m) | ($1.1b) | |
| Change in fair value of non-mortgage loans held for sale | — | — | — | — | $0 | $5.6m | $12.1m | $5.0m | |
| Other operating activities | — | — | — | — | — | $0 | $0 | ($46.0m) | |
| Other assets | ($64.4m) | ($29.1m) | ($412.7m) | $87.4m | $22.8m | ($62.8m) | $14.0m | $881.0m | |
| Accounts payable | ($49.1m) | $64.7m | $94.6m | $11.2m | ($155.2m) | $55.0m | $10.4m | ($33.0m) | |
| Advance receivables, net | — | — | — | — | — | $0 | $0 | ($436.0m) | |
| Other liabilities | ($11.2m) | $10.5m | $151.2m | $66.3m | ($318.2m) | ($154.0m) | $101.5m | $90.0m | |
| Proceeds from sale of MSRs | $0 | $136.8m | $561.6m | $933.5m | $671.9m | $1.0b | $297.9m | $430.0m | |
| Net purchase of MSRs | — | $0 | $0 | ($184.5m) | ($14.6m) | ($101.2m) | ($737.6m) | ($550.0m) | |
| Purchase and other additions of property and equipment, net of disposals | ($64.5m) | ($48.8m) | ($106.3m) | ($118.3m) | ($93.1m) | ($60.3m) | ($67.5m) | ($91.0m) | |
| Net borrowings (payments) on funding facilities | $1.0b | $7.0b | $5.7b | ($5.0b) | ($9.2b) | ($181.3m) | $3.3b | $4.8b | |
| Net payments on MSR and advance facilities | — | $0 | ($210.0m) | ($300.0m) | ($75.0m) | $0 | $0 | ($319.0m) | |
| Borrowings on Senior Notes | $0 | $0 | $2.0b | $2.0b | $0 | $0 | $0 | $4.0b | |
| Repayments of Senior Notes | $0 | $0 | ($1.3b) | ($1.0b) | $0 | $0 | $0 | ($74.0m) | |
| Net payments on notes payable from unconsolidated affiliates | — | — | — | — | $720k | $184k | ($1.8m) | ($29.0m) | |
| Proceeds from consolidated CFE | $0 | $325.2m | $190.6m | $21.6m | $0 | $0 | $92.7m | $27.0m | |
| Stock issuance | $0 | $0 | $6.7m | $42.0m | $37.8m | $24.9m | $40.6m | $55.0m | |
| Taxes withheld on team members' restricted share award vesting | — | $0 | $0 | ($12.7m) | ($43.7m) | ($47.6m) | ($64.7m) | ($105.0m) | |
| Increase in controlling interest in subsidiaries | — | — | — | $0 | $0 | ($2.6m) | $0 | $0 | |
| (Distributions to) contributions from other unit holders (members) and Class A shareholders | — | — | — | ($4.0b) | ($2.1b) | $52.6m | ($18.8m) | ($241.0m) | |
| Loans transferred to other real estate owned | $1.9m | $2.5m | $1.5m | $1.3m | $1.3m | $2.4m | $3.5m | $9.0m | |
| Beginning Cash Position | — | — | — | — | $2.2b | $789.0m | $1.1b | $1.3b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | ($12.8b) | ($623.0m) | $3.3b | $8.1b | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | $578.7m | $861.0m | ($496.0m) | ($2.5b) | |
| Change In Account Payable | — | — | — | — | ($155.2m) | $55.0m | $10.0m | ($33.0m) | |
| Change In Other Current Assets | — | — | — | — | $22.8m | ($70.0m) | $21.0m | $881.0m | |
| Change In Other Current Liabilities | — | — | — | — | ($345.1m) | ($157.0m) | $103.0m | $90.0m | |
| Change In Payable | — | — | — | — | ($156.1m) | $55.0m | $10.0m | ($33.0m) | |
| Change In Payables And Accrued Expense | — | — | — | — | ($156.1m) | $55.0m | $10.0m | ($33.0m) | |
| Change In Receivables | — | — | — | $12.4m | ($1.0m) | ($8.7m) | $5.3m | — | |
| Change In Working Capital | — | — | — | — | ($479.5m) | ($172.0m) | $134.0m | $502.0m | |
| Changes In Cash | — | — | — | — | ($1.4b) | $348.0m | $153.0m | $1.6b | |
| End Cash Position | — | — | — | — | $789.1m | $1.1b | $1.3b | $2.9b | |
| Financing Cash Flow | — | — | — | — | ($12.8b) | ($624.0m) | $3.3b | $8.1b | |
| Free Cash Flow | — | — | — | — | $10.7b | ($50.0m) | ($3.4b) | ($4.6b) | |
| Investing Cash Flow | — | — | — | — | $578.7m | $861.0m | ($496.0m) | ($2.5b) | |
| Issuance Of Capital Stock | — | — | — | — | $37.8m | $25.0m | $41.0m | $55.0m | |
| Net Business Purchase And Sale | — | — | — | — | $0 | $0 | $0 | ($2.3b) | |
| Net Intangibles Purchase And Sale | — | — | — | — | $657.3m | $911.0m | ($440.0m) | ($120.0m) | |
| Net PPE Purchase And Sale | — | — | — | — | ($93.1m) | ($60.0m) | ($68.0m) | ($91.0m) | |
| Operating Gains Losses | — | — | — | — | ($1.2b) | ($974.0m) | ($1.7b) | ($2.1b) | |
| Other Non Cash Items | — | — | — | — | $11.4b | $1.4b | ($2.0b) | ($2.8b) | |
| Purchase Of Business | — | — | — | — | $0 | $0 | $0 | ($2.3b) | |
| Purchase Of Intangibles | — | — | — | — | ($14.6m) | ($101.0m) | ($738.0m) | ($550.0m) | |
| Purchase Of PPE | — | — | $106.3m | $118.3m | ($93.1m) | ($60.0m) | ($68.0m) | ($91.0m) | |
| Repurchase Of Capital Stock | — | — | — | ($231.6m) | ($177.7m) | $0 | $0 | — | |
| Sale Of Intangibles | — | — | — | — | $671.9m | $1.0b | $298.0m | $430.0m | |
| Stock Based Compensation | — | — | — | — | $216.0m | $180.0m | $145.0m | $343.0m | |
| Total adjustments | $816.3m | ($7.9b) | ($11.1b) | $1.7b | $10.1b | $500.4m | ($3.3b) | ($3.7b) | |
| Net cash (used in) provided by operating activities | $1.4b | ($7.0b) | ($1.7b) | $7.7b | $10.8b | $110.3m | ($2.6b) | ($3.9b) | |
| Acquisition of business, net of cash acquired | — | $0 | $0 | ($1.2b) | $0 | $0 | $0 | ($2.3b) | |
| Net Investment Purchase And Sale | — | — | — | ($39.9m) | $2.1m | $1.0m | $0 | — | |
| Purchase Of Investment | — | — | — | ($39.9m) | $0 | ($5.5m) | $0 | — | |
| Sale Of Investment | — | — | — | $0 | $2.1m | $6.5m | $0 | — | |
| Other investing activities | — | — | — | — | — | $10.0m | $12.0m | $2.0m | |
| Net Other Investing Changes | — | — | — | — | — | $10.0m | $12.0m | $2.0m | |
| Net cash (used in) provided by investing activities | ($94.5m) | $71.9m | $517.2m | ($664.9m) | $578.7m | $861.2m | ($495.5m) | ($2.5b) | |
| Payment of debt issuance costs | — | — | — | — | — | $0 | $0 | ($46.0m) | |
| Issuance Of Debt | — | — | — | — | $720k | $0 | $3.2b | $8.8b | |
| Long Term Debt Issuance | — | — | — | — | $720k | $0 | $3.2b | $8.8b | |
| Net Issuance Payments Of Debt | — | — | — | — | ($10.5b) | ($651.0m) | $3.2b | $8.7b | |
| Net Long Term Debt Issuance | — | — | — | — | ($10.5b) | ($651.0m) | $3.2b | $8.7b | |
| Net Short Term Debt Issuance | — | — | — | ($300.0m) | ($75.0m) | $0 | — | — | |
| Long Term Debt Payments | — | — | — | — | ($10.5b) | ($651.0m) | ($2.0m) | ($103.0m) | |
| Repayment Of Debt | — | — | — | — | ($10.5b) | ($651.0m) | ($2.0m) | ($103.0m) | |
| Short Term Debt Payments | — | — | — | ($300.0m) | ($75.0m) | $0 | — | — | |
| Issuance of common stock as consideration for acquisition | — | — | — | — | — | $0 | $0 | $15.1b | |
| Common Stock Issuance | — | — | — | — | $37.8m | $25.0m | $41.0m | $55.0m | |
| Net Common Stock Issuance | — | — | — | — | ($139.9m) | $25.0m | $41.0m | $55.0m | |
| Common Stock Payments | — | — | — | ($231.6m) | ($177.7m) | $0 | $0 | — | |
| Net Other Financing Charges | — | — | — | — | ($2.2b) | $2.0m | $9.0m | ($684.0m) | |
| Net cash provided by (used in) financing activities | ($1.7b) | $7.2b | $1.8b | ($6.9b) | ($12.8b) | ($623.6m) | $3.3b | $8.1b | |
| Effects of exchange rate changes on cash and cash equivalents | ($1.1m) | $877k | $885k | ($115k) | ($949k) | ($191k) | ($1.4m) | $1.0m | |
| Effect Of Exchange Rate Changes | — | — | — | — | ($949k) | $0 | ($1.0m) | $1.0m | |
| Net increase in cash and cash equivalents and restricted cash | ($337.1m) | $319.4m | $598.4m | $157.5m | ($1.4b) | $347.7m | $152.5m | $1.6b | |
| Cash and cash equivalents and restricted cash, beginning of period | $1.1b | $1.5b | $2.1b | $2.2b | $789.1m | $1.1b | $1.3b | $2.9b | |
| Change In Cash Supplemental As Reported | — | — | — | — | ($1.4b) | $348.0m | $152.0m | $1.6b | |
| Cash paid for interest on related party borrowings | $1.7m | $5.6m | $3.5m | $7.2m | $6.4m | $1.9m | $1.7m | $0 | |
| Cash paid for interest | $207.5m | $255.8m | $367.0m | $422.6m | $321.2m | $378.9m | $479.3m | $596.0m | |
| Cash paid (received) for income taxes, net | $515k | $11.0m | $55.7m | $76.6m | $12.5m | ($856k) | $5.7m | $2.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.