Rocket Companies
RKT on NYSE. Rocket Companies sells mortgages, home loans, and real estate services to people buying homes. Market value $2.1bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 0 cents. Above 10 is good.
What you pay for each dollar of net assets: $0.65.
Profit per $100 you pay: $3.07.
Quality score: 54 of 100. Price score: 69 of 100. Our list needs 70 on quality and 60 on price.
$11.59 a share, 3% above its 1-year low
Over the past year the price has ranged from $11.25 to $24.36.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $12.9bn | $5.8bn | $3.8bn | $5.1bn | $6.7bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.99bn | 1.97bn | 1.98bn | 0.14bn | 1.32bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsShrinking, 15.6% a year
- Buying back its own sharesYes, 34% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $2.8 billion last quarter, up 92% on a year ago.
- Profit: $230 million, after a loss of $2 million a year ago.
- Over the past 12 months it spent $772 million more cash than it brought in, compared with $2.2 billion a year earlier.
- 1559% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $647m |
| December 2024 | $1.8bn |
| March 2025 | $1.1bn |
| June 2025 | $1.5bn |
| September 2025 | $1.6bn |
| December 2025 | $2.7bn |
| March 2026 | $2.9bn |
| June 2026 | $2.8bn |
| Quarter to | Amount |
|---|---|
| September 2024 | -$22m |
| December 2024 | $649m |
| March 2025 | -$10m |
| June 2025 | -$2m |
| September 2025 | -$124m |
| December 2025 | $68m |
| March 2026 | $297m |
| June 2026 | $230m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 2 March 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
8 long-term investors we follow own it, unchanged from 8 last quarter. 791 funds in all.
- Leon Cooperman (Omega Family Office)Leon Cooperman
- Value
- $331m
- Share of fund
- 9.3%
- Gotham Asset ManagementJoel Greenblatt
- Value
- $4m
- Share of fund
- <0.1%
- GMOJeremy Grantham
- Value
- $1m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| ValueAct CapitalMason Morfit | $656m | 11.6% | Added |
| Leon Cooperman (Omega Family Office)Leon Cooperman | $331m | 9.3% | |
| Boston PartnersBoston Partners team | $150m | 0.1% | Added |
| Davis Selected AdvisersChris Davis | $70m | 0.3% | Cut |
| Diamond Hill Capital ManagementRic Dillon (founder) | $68m | 0.5% | Added |
| Gotham Asset ManagementJoel Greenblatt | $4m | <0.1% | |
| First Eagle Investment ManagementMatthew McLennan | $2m | <0.1% | Added |
| GMOJeremy Grantham | $1m | <0.1% |
Largest holders overall
- Capital World Investors$1.1bnNew
- BlackRock$1.1bnAdded
- Price T Rowe Associates$870mAdded
- FMR$820mAdded
- Vanguard Capital Management$672mAdded
- ValueAct Capital$656mAdded
- Vanguard Portfolio Management$638mAdded
- Capital International Investors$526mAdded
- Morgan Stanley$450mAdded
- Goldman Sachs Group$366mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%; 1 of them is pushing for change.
- Daniel GilbertInsider or founderat least 57.1%−19.3 pts(filed with 2 related holders)Since 10 October 2025
- Capital World InvestorsPassive investor7.1%Since 30 June 2026
- T. Rowe Price Associates, Inc.Passive investor5.6%Since 30 June 2026
- FMR LLCPassive investorat least 5.4%+3.1 pts(filed with 1 related holder)Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.0%Since 31 March 2026
- ValueAct CapitalActivistat least 4.3%−5.6 pts(filed with 6 related holders)Since 1 October 2025
- JPMORGAN CHASE & CO.Passive investorSold down below 5%Since 31 July 2025
- TIAA CREF INVESTMENT MANAGEMENT LLCPassive investorSold down below 5%Since 31 October 2025
- College Retirement Equities Fund- Growth AccountPassive investorSold down below 5%Since 31 October 2025
- Slate Path Capital LPPassive investorSold down below 5%Since 30 September 2025
- Boston PartnersPassive investorSold down below 5%Since 31 December 2025
- Teachers Advisors LLCPassive investorSold down below 5%Since 31 October 2025
- Nuveen Asset Management, LLCPassive investorSold down below 5%Since 31 October 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- Rock Holdings Inc.Passive investorSold down below 5%Since 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
Daniel Gilbert Insider or founder | at least 57.1%−19.3 pts (filed with 2 related holders) | 10 October 2025 | |
Capital World Investors Passive investor | 7.1% | 30 June 2026 | |
T. Rowe Price Associates, Inc. Passive investor | 5.6% | 30 June 2026 | |
FMR LLC Passive investor | at least 5.4%+3.1 pts (filed with 1 related holder) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.0% | 31 March 2026 | |
ValueAct Capital Activist | at least 4.3%−5.6 pts (filed with 6 related holders) | 1 October 2025 | |
JPMORGAN CHASE & CO. Passive investor | Sold down below 5% | 31 July 2025 | |
TIAA CREF INVESTMENT MANAGEMENT LLC Passive investor | Sold down below 5% | 31 October 2025 | |
College Retirement Equities Fund- Growth Account Passive investor | Sold down below 5% | 31 October 2025 | |
Slate Path Capital LP Passive investor | Sold down below 5% | 30 September 2025 | |
Boston Partners Passive investor | Sold down below 5% | 31 December 2025 | |
Teachers Advisors LLC Passive investor | Sold down below 5% | 31 October 2025 | |
Nuveen Asset Management, LLC Passive investor | Sold down below 5% | 31 October 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
Rock Holdings Inc. Passive investor | Sold down below 5% | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 2 sold $8m, $8m of it under preset trading plans.
- Bray Jesse KPres & CEO, Rocket Mortgage, DirectorSoldunder a preset trading plan
- Date
- 2 October 2026
- Shares
- 92,300
- Price
- $12.39
- Value
- $1m
- Bray Jesse KPres & CEO, Rocket Mortgage, DirectorSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 132,700
- Price
- $12.01
- Value
- $2m
- Bray Jesse KPres & CEO, Rocket Mortgage, DirectorSoldunder a preset trading plan
- Date
- 15 September 2026
- Shares
- 225,000
- Price
- $13.11
- Value
- $3m
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 12 January 2026
- Shares
- 2,500
- Price
- $22.99
- Value
- $57,475
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 9 January 2026
- Shares
- 2,500
- Price
- $22.78
- Value
- $56,950
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 8 January 2026
- Shares
- 2,500
- Price
- $21.29
- Value
- $53,225
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 7 January 2026
- Shares
- 2,500
- Price
- $21.26
- Value
- $53,150
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 6 January 2026
- Shares
- 2,500
- Price
- $20.98
- Value
- $52,450
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 5 January 2026
- Shares
- 2,500
- Price
- $21.04
- Value
- $52,600
- Rizik MatthewDirectorSoldunder a preset trading plan
- Date
- 2 January 2026
- Shares
- 2,500
- Price
- $19.70
- Value
- $49,250
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 October 2026 | Bray Jesse K Pres & CEO, Rocket Mortgage, Director | Sold under a preset trading plan | 92,300 | $12.39 | $1m |
| 1 October 2026 | Bray Jesse K Pres & CEO, Rocket Mortgage, Director | Sold under a preset trading plan | 132,700 | $12.01 | $2m |
| 15 September 2026 | Bray Jesse K Pres & CEO, Rocket Mortgage, Director | Sold under a preset trading plan | 225,000 | $13.11 | $3m |
| 12 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $22.99 | $57,475 |
| 9 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $22.78 | $56,950 |
| 8 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $21.29 | $53,225 |
| 7 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $21.26 | $53,150 |
| 6 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $20.98 | $52,450 |
| 5 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $21.04 | $52,600 |
| 2 January 2026 | Rizik Matthew Director | Sold under a preset trading plan | 2,500 | $19.70 | $49,250 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 15.6% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.