Rocket Companies Inc - Understand $rkt stock

$RKT Market Cap: $39.03 Billion

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Financial Snapshot

Revenue

$4.659B

TTM

Gross Margin

48.62%

TTM

Net Earnings

$13.08M

TTM

Current Assets

$1.309B

Q2 2024

Current Liabilities

$9.664B

Q2 2024

Current Ratio

13.55%

Q2 2024

Total Assets

$23.65B

Q2 2024

Total Liabilities

$14.83B

Q2 2024

Book Value

$8.814B

Q2 2024

Cash

$1.309B

Q2 2024

P/E

2.984K

Sep 13, 2024 EST

Free Cash Flow

-$1.464B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$3.799B	$5.838B	$12.91B	$15.65B	$5.069B	$4.210B	$4.253B	$4.886B
YoY Change	-34.93%	-54.79%	-17.48%	208.73%	20.42%	-1.02%	-12.96%	28.61%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$3.799B	$5.838B	$12.91B	$15.65B	$5.069B	$4.210B	$4.253B	$4.886B
Cost Of Revenue
Gross Profit	$1.307B	$2.599B	$8.256B	$11.06B	$2.097B	$1.672B
Gross Profit Margin	34.4%	44.52%	63.93%	70.69%	41.37%	39.71%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Selling, General & Admin	$3.797B	$4.650B	$5.790B	$5.241B	$3.673B	$3.174B	$3.015B	$2.692B
YoY Change	-18.34%	-19.69%	10.47%	42.69%	15.72%	5.27%	12.0%	21.21%
% of Gross Profit	290.49%	178.89%	70.13%	47.38%	175.15%	189.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$110.3M	$94.02M	$74.71M	$74.30M	$75.00M	$76.90M	$68.80M	$62.00M
YoY Change	17.28%	25.84%	0.56%	-0.93%	-2.47%	11.77%	10.97%	21.57%
% of Gross Profit	8.44%	3.62%	0.9%	0.67%	3.58%	4.6%
Operating Expenses	$3.907B	$4.744B	$5.865B	$5.316B	$3.748B	$3.251B	$3.084B	$2.754B
YoY Change	-17.64%	-19.11%	10.32%	41.84%	15.29%	5.42%	11.98%	21.21%
Operating Profit	-$2.600B	-$2.145B	$2.391B	$5.747B	-$1.651B	-$1.579B
YoY Change	21.24%	-189.68%	-58.39%	-448.07%	4.54%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Interest Expense	-$360.0M	-$320.0M	-$491.9M	-$432.0M	-$272.0M	-$229.0M	-$181.0M	-$75.00M
YoY Change	12.5%	-34.95%	13.86%	58.82%	18.78%	26.52%	141.33%	50.0%
% of Operating Profit			-20.57%	-7.52%
Other Income/Expense, Net	-$141.7M	-$199.2M	-$634.3M	-$702.0M	-$328.0M	-$211.0M	-$216.0M	-$240.0M
YoY Change	-28.88%	-68.59%	-9.64%	114.02%	55.45%	-2.31%	-10.0%	16.5%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Pretax Income	-$402.9M	$741.9M	$6.185B	$9.532B	$904.4M	$619.5M	$772.0M	$1.818B
YoY Change	-154.31%	-88.0%	-35.11%	953.87%	46.0%	-19.76%	-57.54%	43.04%
Income Tax	-$12.82M	$41.98M	$112.7M	$132.4M	$7.310M	$3.244M	$1.000M	$10.00M
% Of Pretax Income		5.66%	1.82%	1.39%	0.81%	0.52%	0.13%	0.55%
Net Earnings	-$15.51M	$46.42M	$308.2M	$198.0M	$0.00	$0.00	$771.0M	$1.808B
YoY Change	-133.42%	-84.94%	55.7%			-100.0%	-57.36%	41.8%
Net Earnings / Revenue	-0.41%	0.8%	2.39%	1.26%	0.0%	0.0%	18.13%	37.0%
Basic Earnings Per Share	-$0.12	$0.39	$2.36	$1.77
Diluted Earnings Per Share	-$0.15	$0.28	$2.32	$1.76	$0.00	$0.00	$7.710M	$18.08M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018
Cash & Short-Term Investments	$1.108B	$722.3M	$2.131B	$1.971B	$1.395B	$1.054B
YoY Change	53.46%	-66.11%	8.13%	41.29%	32.35%
Cash & Equivalents	$1.108B	$722.3M	$2.131B	$1.971B	$1.395B	$1.054B
Short-Term Investments
Other Short-Term Assets	$158.3M	$192.9M	$169.0M	$179.0M	$119.0M	$94.00M
YoY Change	-17.95%	14.13%	-5.58%	50.42%	26.6%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$1.354B	$995.9M	$2.415B	$2.474B	$1.555B	$1.185B
YoY Change	35.97%	-58.76%	-2.39%	59.1%	31.22%
Property, Plant & Equipment	$598.6M	$640.4M	$682.3M	$450.0M	$455.0M	$203.0M
YoY Change	-6.53%	-6.14%	51.62%	-1.1%	124.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments			$0.00	$205.0M	$205.0M	$0.00
YoY Change			-100.0%	0.0%
Other Assets	$578.5M	$604.8M	$652.5M	$603.0M	$61.00M	$47.00M
YoY Change	-4.34%	-7.31%	8.2%	888.52%	29.79%
Total Long-Term Assets	$17.88B	$19.09B	$30.36B	$35.06B	$18.57B	$10.37B
YoY Change	-6.33%	-37.13%	-13.41%	88.82%	79.09%
Total Assets	$19.23B	$20.08B	$32.77B	$37.54B	$20.12B	$11.55B
YoY Change
Accounts Payable	$171.4M	$116.3M	$271.5M	$252.0M	$157.0M	$93.00M
YoY Change	47.3%	-57.16%	7.76%	60.51%	68.82%
Accrued Expenses	$393.9M	$422.8M	$482.2M	$272.0M	$314.0M	$0.00
YoY Change	-6.83%	-12.32%	77.27%	-13.38%
Deferred Revenue
YoY Change
Short-Term Debt	$5.104B	$5.864B	$16.57B	$23.77B	$13.00B	$5.699B
YoY Change	-12.96%	-64.6%	-30.3%	82.82%	128.13%
Long-Term Debt Due						$0.00
YoY Change
Total Short-Term Liabilities	$5.669B	$6.415B	$17.33B	$24.35B	$13.50B	$5.792B
YoY Change	-11.63%	-62.99%	-28.81%	80.29%	133.13%
Long-Term Debt	$4.064B	$4.049B	$4.119B	$3.370B	$2.420B	$2.413B
YoY Change	0.37%	-1.69%	22.23%	39.26%	0.29%
Other Long-Term Liabilities	$1.196B	$1.142B	$1.564B	$1.937B	$684.0M	$555.0M
YoY Change	4.75%	-26.98%	-19.25%	183.19%	23.24%
Total Long-Term Liabilities	$5.261B	$5.192B	$5.683B	$5.307B	$3.104B	$2.968B
YoY Change	1.33%	-8.65%	7.09%	70.97%	4.58%
Total Liabilities	$18.61B	$19.51B	$32.11B	$37.04B	$16.61B	$8.779B
YoY Change	-4.61%	-39.25%	-13.32%	123.0%	89.22%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020
Basic Shares Outstanding	128.6M shares	120.6M shares	130.6M shares	111.9M shares
Diluted Shares Outstanding	1.981B shares	1.972B shares	1.989B shares	116.2M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $39.033 Billion

About Rocket Companies Inc

Rocket Cos., Inc. engages in the provision of a suite of services related to homeownership and other personal financial transactions. The company is headquartered in Detroit, Michigan and currently employs 14,700 full-time employees. The company went IPO on 2020-08-06. The Company’s segments include Direct to Consumer, and Partner Network. In the Direct-to-Consumer segment, clients have the ability to interact with Rocket Mortgage online and/or with the Company’s mortgage bankers. The firm markets various brand campaigns and performance marketing channels to clients through its Direct-to-Consumer segment. The company also includes title insurance, appraisals, and settlement services. Partner Network segment leverages its client service and brands to grow marketing and influencer relationships, and its mortgage broker partnerships through Rocket Pro third-party origination (TPO). The firm consists of personal finance and consumer technology brands, including Rocket Mortgage, Rocket Homes, Amrock, Rocket Money, Rocket Loans, Rocket Mortgage Canada, Lendesk, Core Digital Media, and Rocket Connections.

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