Rocket Companies, Inc. (RKT) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
1050 WOODWARD AVENUE DETROIT, MI 48226 |
| State of Incorp. | MI |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6162 - Mortgage Bankers and Loan Correspondents (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 1,108 | 722 | 2,131 | 1,971 | |||
| Cash and cash equivalent | 1,108 | 722 | 2,131 | 1,971 | |||
| Total current assets: | 1,108 | 722 | 2,131 | 1,971 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 348 | 366 | 428 | 239 | |||
| Property, plant and equipment | 251 | 274 | 254 | 211 | |||
| Intangible assets, net (including goodwill), including: | 1,237 | 1,259 | 1,297 | 47 | |||
| Goodwill | 1,100 | 1,136 | |||||
| Intangible assets, net (excluding goodwill) | 100 | 123 | |||||
| Other undisclosed intangible assets, net (including goodwill) | 36 | 1,297 | 47 | ||||
| Deferred income tax assets | 550 | 538 | 572 | 520 | |||
| Total noncurrent assets: | 2,385 | 2,437 | 2,551 | 1,017 | |||
| Other undisclosed assets | 15,738 | 16,923 | 28,092 | 34,547 | |||
| TOTAL ASSETS: | 19,232 | 20,082 | 32,775 | 37,535 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Noncurrent Liabilities | |||||||
| Liabilities, other than long-term debt | 16 | 16 | 28 | 10 | |||
| Deferred income tax liabilities | 16 | 16 | 28 | 10 | |||
| Total noncurrent liabilities: | 16 | 16 | 28 | 10 | |||
| Other undisclosed liabilities | 10,914 | 11,590 | 22,987 | 29,642 | |||
| Total liabilities: | 10,930 | 11,607 | 23,015 | 29,652 | |||
| Equity | |||||||
| Equity, attributable to parent | 625 | 577 | 666 | 490 | |||
| Additional paid in capital | 341 | 276 | 288 | 283 | |||
| Accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | |||
| Retained earnings | 284 | 300 | 378 | 207 | |||
| Equity, attributable to noncontrolling interest | 7,677 | 7,899 | 9,094 | 7,392 | |||
| Other undisclosed equity | 0 | 0 | 0 | 0 | |||
| Total equity: | 8,302 | 8,476 | 9,760 | 7,882 | |||
| TOTAL LIABILITIES AND EQUITY: | 19,232 | 20,082 | 32,775 | 37,535 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Revenues | 4,707 | 5,820 | 13,865 | 18,275 | ||
| Contractually specified servicing fee, late fee, and ancillary fee earned in exchange for servicing financial asset | 1,402 | 1,459 | 1,326 | 1,074 | ||
| Gain on disposition of assets for financial service operations | 2,066 | 3,137 | 10,469 | 15,071 | ||
| Other income | 911 | 873 | 1,640 | 1,800 | ||
| Cost of revenue | (2,552) | (3,151) | (4,222) | (4,126) | ||
| Other undisclosed gross profit | (847) | (70) | (1,387) | (3,086) | ||
| Gross profit: | 1,307 | 2,599 | 8,256 | 11,063 | ||
| Operating expenses | (1,650) | (1,946) | (2,508) | (2,077) | ||
| Operating income (loss): | (343) | 653 | 5,748 | 8,985 | ||
| Nonoperating expense (Mortgage Servicing Rights (MSR) Impairment (Recovery)) | (2,294) | |||||
| Interest and debt expense | (87) | (44) | ||||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 2,884 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (343) | 653 | 5,661 | 9,532 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (60) | 89 | 524 | |||
| Income (loss) from continuing operations before income taxes: | (403) | 742 | 6,185 | 9,532 | ||
| Income tax expense (benefit) | 13 | (42) | (113) | (132) | ||
| Income (loss) from continuing operations: | (390) | 700 | 6,072 | 9,399 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 6,072 | 9,399 | |
| Net income (loss): | (390) | 700 | 6,072 | 9,399 | ||
| Net income (loss) attributable to noncontrolling interest | 375 | (654) | (5,764) | (9,201) | ||
| Net income (loss) attributable to parent: | (16) | 46 | 308 | 198 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | 0 | 0 | ||||
| Net income (loss) available to common stockholders, basic: | (16) | 46 | 308 | 198 | ||
| Dilutive securities, effect on basic earnings per share | (283) | 504 | 4,312 | 7 | ||
| Net income (loss) available to common stockholders, diluted: | (299) | 550 | 4,620 | 205 | ||
Comprehensive Income ($ in millions)
| 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Net income (loss): | (390) | 700 | 6,072 | 9,399 | ||
| Other undisclosed comprehensive income (loss) | (0) | (0) | (6) | 6 | ||
| Comprehensive income (loss): | (390) | 699 | 6,066 | 9,405 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 375 | (653) | (5,759) | (9,207) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (16) | 46 | 308 | 198 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.