Loading...
Docoh

Rocket Companies (RKT)

Rocket Companies is a Detroit-based holding company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial. Since 1985, Rocket Companies has been obsessed with helping its clients achieve the American dream of home ownership and financial freedom. Rocket Companies offers an industry-leading client experience powered by our simple, fast, and trusted digital solutions. Rocket Companies has 22,000 team members across the United States and Canada. Its flagship company, Rocket Mortgage, has been named to Fortune magazine's list of '100 Best Companies to Work For' for 17 consecutive years.

RKT stock data

Calendar

8 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 984.08M 984.08M 984.08M 984.08M 984.08M 984.08M
Cash burn (monthly) 467.87M 89.03M (no burn) (no burn) 728.99M (no burn)
Cash used (since last report) 1.38B 262.86M n/a n/a 2.15B n/a
Cash remaining -397.28M 721.22M n/a n/a -1.17B n/a
Runway (months of cash) -0.8 8.1 n/a n/a -1.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Sep 22 Jay Farner Class A common stock Buy Acquire P No Yes 6.91 28,800 199.01K 4,296,507
23 Sep 22 Matthew Rizik Class A common stock Buy Acquire P No Yes 6.92 3,100 21.45K 377,602
22 Sep 22 Jay Farner Class A common stock Buy Acquire P No Yes 7.18 27,800 199.6K 4,267,707
22 Sep 22 Matthew Rizik Class A common stock Buy Acquire P No Yes 7.18 3,000 21.54K 374,502
21 Sep 22 Matthew Rizik Class A common stock Buy Acquire P No Yes 7.55 2,900 21.9K 371,502
21 Sep 22 Jay Farner Class A common stock Buy Acquire P No Yes 7.55 26,500 200.08K 4,239,907
20 Sep 22 Matthew Rizik Class A common stock Buy Acquire P No Yes 7.41 2,900 21.49K 368,602
20 Sep 22 Jay Farner Class A common stock Buy Acquire P No Yes 7.42 26,900 199.6K 4,213,407
19 Sep 22 Matthew Rizik Class A common stock Buy Acquire P No Yes 7.63 2,800 21.36K 365,702
19 Sep 22 Jay Farner Class A common stock Buy Acquire P No Yes 7.63 26,200 199.91K 4,186,507
98.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 236 239 -1.3%
Opened positions 40 47 -14.9%
Closed positions 43 64 -32.8%
Increased positions 77 83 -7.2%
Reduced positions 69 65 +6.2%
13F shares Current Prev Q Change
Total value 26.55B 26.8B -0.9%
Total shares 1.93B 1.93B +0.1%
Total puts 6.99M 4.52M +54.5%
Total calls 3.67M 5.18M -29.0%
Total put/call ratio 1.9 0.9 +117.7%
Largest owners Shares Value Change
Rock 1.85B $25.87B 0.0%
Vanguard 10.45M $76.91M +4.2%
Caledonia 9.31M $68.54M 0.0%
IVZ Invesco 8.41M $61.91M -22.0%
STT State Street 5.52M $40.62M +2.3%
BLK Blackrock 5.06M $37.26M -24.3%
Technology Crossover Management X 4.45M $32.75M 0.0%
Davis Selected Advisers 4.1M $30.2M +0.1%
Renaissance Technologies 2.44M $17.92M +3.3%
ValueAct 2M $14.72M NEW
Largest transactions Shares Bought/sold Change
IVZ Invesco 8.41M -2.38M -22.0%
ValueAct 2M +2M NEW
BLK Blackrock 5.06M -1.62M -24.3%
Millennium Management 1.22M +1.22M NEW
Jupiter Asset Management 1.37M +984.75K +255.4%
Manufacturers Life Insurance Company, The 873.64K +833.96K +2101.5%
Sculptor Capital 797K +797K NEW
Alliancebernstein 150.03K -641.81K -81.1%
BAC Bank Of America 1.14M +636.36K +126.2%
GS Goldman Sachs 1.64M +593.25K +56.5%

Financial report summary

?
Competition
FintechFintech
Management Discussion
  • Our Cash and cash equivalents and Restricted cash were $1.0 billion at June 30, 2022, a decrease of $1.1 billion, or 52.1%, compared to $2.1 billion at June 30, 2021. The decrease was primarily driven by distributions made to Class A shareholders of the Company and to unit holders (members) of Holdings partially offset by the net increase from earnings adjusted for non-cash items.
  • Equity was $8.8 billion as of June 30, 2022, an increase of $0.6 billion, or 7.2%, as compared to $8.2 billion as of June 30, 2021. The increase was primarily a result of net income of $3.4 billion and share-based compensation of $185.6 million, which was offset by distributions made to Class A shareholders of the Company and to unit holders (members) of Holdings.
  • On February 24, 2022, our board of directors declared a cash dividend (the "2022 Special Dividend") of $1.01 per share to the holders of our Class A common stock. The 2022 Special Dividend was paid on March 22, 2022 to holders of the Class A common stock of record as of the close of business on March 8, 2022. The Company funded the 2022 Special Dividend from cash distributions of approximately $2.0 billion by RKT Holdings, LLC to all of its members, including the Company. To the extent the 2022 Special Dividend exceeded our current and accumulated earnings and profits, a portion of the 2022 Special Dividend may be deemed a return of capital or a capital gain to the investors in our Class A common stock. Refer to our risks and uncertainties discussed under the heading “Special Note Regarding Forward-Looking Statements,” and in Part II. Item 1A. “Risk Factors” and elsewhere in this Form 10-Q and in our Form 10-K.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: certainty, competition, complex, fast, favorable, fewer, fungible, Home, industry, inflationary, marketplace, proforma, reserve, saving, simple, Subfootnote, sublimit, ULC, undrawn
Removed: acceptable, added, adjustable, affiliate, aggregated, app, April, binding, choice, Cloud, collect, community, computing, deduction, defaulted, desire, enforceable, enter, EPS, exclusively, exercised, expertise, expose, Force, fulfilled, greater, GSE, Guide, hedged, hold, indemnified, indemnity, instrument, Intuit, iv, January, legally, licensing, longer, MBS, mortgagee, move, natural, nonperforming, optimize, organically, parallel, passage, payoff, permitted, profile, protect, quality, Quicken, reach, recapture, recording, regularly, relief, remit, representation, responsible, retaining, retention, reverse, satisfaction, satisfactorily, securitize, seeking, settle, similarly, subsequently, suppression, tapping, TBA, tighter, titled, trademark, Treasury, treatment, underwriting, unrestricted, Utilization, warranty