Rocket Companies, Inc. (RKT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-89.5%

$1.46

vs $13.94 price

Levered DCF

$2.13

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.12

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-701.45×	53.62×	-120.67×	17.95×	5.93×	11.42×	0×	0×
P/B	2.09×	2.26×	2.98×	1.46×	2.75×	4.61×	0.62×	0.78×
P/S	6.94×	0.29×	0.47×	0.14×	0.14×	0.14×	0.41×	0.5×
EV / EBITDA	68.9×	18.99×	-37.42×	12.87×	3.43×	2.99×	17.82×	14.32×
Gross margin	91.6%	91.3%	91.0%	94.7%	96.3%	97.3%	94.8%	94.7%
Operating margin	8.7%	12.4%	-10.1%	12.4%	46.9%	60.0%	17.4%	14.3%
Net margin	-1.0%	0.5%	-0.4%	0.8%	2.3%	1.2%	0.0%	0.0%
Current ratio	16.62×	0.23×	0.37×	0.26×	0.4×	0.4×	0.24×	0.44×
Debt / equity	0×	19.89×	15.3×	17.94×	31.82×	56.37×	4.56×	2.92×
Interest coverage	0.74×	1.42×	-1.12×	2.32×	12.57×	22.07×	3.33×	2.7×
Dividend yield	4.1%	0.0%	0.0%	237.0%	7.9%	0.0%	0.0%	0.0%
Payout ratio	-2901.3%	0.0%	0.0%	4308.4%	47.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-0.3%	4.2%	-2.5%	8.0%	46.3%	40.4%	0.0%	0.0%
Return on invested capital	3.4%	2.6%	-2.0%	3.5%	18.7%	25.2%	4.5%	5.4%
Return on assets	-0.1%	0.1%	-0.1%	0.2%	0.9%	0.5%	0.0%	0.0%
Free cash flow yield	-8.4%	-216.3%	2.7%	1269.6%	407.0%	-78.8%	-325.5%	63.3%
Earnings yield	-0.1%	1.8%	-0.8%	5.5%	16.9%	8.7%	0.0%	0.0%
Enterprise value	$61.3B	$14.8B	$11B	$10.8B	$21.5B	$28.7B	$17.5B	$10B
Net debt / EBITDA	-3.03×	16.27×	-28.89×	11.52×	3.04×	2.67×	14.87×	10.16×
Cash conversion cycle (days)	-71	-99	-121	-106	-187	-204	-191	-128