Rithm Capital Corp. (RITM) 10-Year Financial Performance & Capital Metrics

RITM • • REIT / Real Estate

Real EstateMortgage REITsHybrid Mortgage REITsMulti-Asset Mortgage Investors

AboutRithm Capital Corp. provides capital and services to the real estate and financial services sectors in the United States. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and consumer loans. It qualifies as a real estate investment trust for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as New Residential Investment Corp. and changed its name to Rithm Capital Corp. in August 2022. Rithm Capital Corp. was incorporated in 2011 and is headquartered in New York, New York.Show more

Revenue $4.74B +26.1%
FFO $962M +47.8%
FFO/Share 1.92 +43.1%
FFO Payout 61.16% -30.3%
FFO per Share 1.92 +43.1%
NOI Margin 94.41% -0.9%
FFO Margin 20.29% +17.2%
ROE 12.43% +40.9%
ROA 2.17% +26.0%
Debt/Assets 71.21% +4.9%
Net Debt/EBITDA 10.03 -14.8%
Book Value/Share 15.79 +7.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 47.2% TTM
✓Sustainable FFO payout ratio of 61.2%
✓High NOI margin of 94.4%
✓Trading at only 0.7x book value

✗Weaknesses

✗High debt to equity ratio of 4.2x
✗Weak Piotroski F-Score: 3/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y25.79%

5Y10.41%

3Y17.83%

TTM-3.86%

Profit (Net Income) CAGR

10Y10.19%

5Y10.58%

3Y6.45%

TTM53.87%

EPS CAGR

10Y-4.07%

5Y4.5%

3Y3.41%

TTM46.34%

ROCE

10Y Avg5.44%

5Y Avg4.27%

3Y Avg6.3%

Latest7.22%

Peer Comparison

Multi-Asset Mortgage Investors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RWTNRedwood Trust, Inc. 9.125% Seni	3.31B	24.95	77.97	52.9%	-0.62%	-0.29%		14.10
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 2029	756.12M	25.51	20.74	5.49%	18.45%	8.87%	7.38%	11.65
EFC-PCEllington Financial Inc.	2.48B	25.30	18.88	-13.66%	46.15%	8.39%
RWTRedwood Trust, Inc.	719.55M	5.68	17.75	52.9%	-41.59%	-8.86%		13.80
EFC-PDEllington Financial Inc.	2.36B	24.11	17.60	12.07%	49.64%	8.39%
STWDStarwood Property Trust, Inc.	6.62B	17.88	15.96	-0.53%	19.99%	4.84%	9.34%	1.25
NLYAnnaly Capital Management, Inc.	15.83B	23.18	14.31	189.21%	31.62%	9.97%	15.46%	1.69
IVRInvesco Mortgage Capital Inc.	635.67M	8.96	13.78	17.98%	36.99%	6.93%	28.81%	6.70

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	674.08M	1.17B	1.95B	2.37B	2.89B	1.45B	2.9B	1.67B	3.76B	4.74B
Revenue Growth %	0.41%	0.74%	0.66%	0.22%	0.22%	-0.5%	0.99%	-0.42%	1.25%	0.26%
Property Operating Expenses	56.46M	136.14M	355.92M	378.32M	430.58M	305.33M	342.58M	641.52M	176.45M	265.12M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	51.33M	-38.09M	-101.78M	371.19M	830.16M	1.72B	1.14B	-1.01B	1.43B	1.38B
G&A Expenses	38.96M	14.59M	26.98M	160.63M	346.34M	662.63M	1.34B	1.5B	1.02B	1.41B
EBITDA+	566.29M	1.07B	1.69B	1.62B	1.63B	-565.83M	1.42B	2.06B	2.18B	3.13B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	0	0	0	0	0	625K	6.07M	18.9M	28.2M	30M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	566.29M	1.07B	1.69B	1.62B	1.63B	-566.45M	1.41B	2.04B	2.15B	3.1B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	0	0	0	0	0	0	0	0	0	0
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	0	0	0	0	0	0	0	0	0	0
Pretax Income+	270.88M	621.63M	1.18B	931.1M	647.7M	-1.34B	963.81M	1.26B	752.83M	1.21B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-11M	38.91M	167.63M	-73.43M	41.77M	16.92M	158.23M	279.52M	122.16M	267.32M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	268.64M	504.45M	957.53M	963.97M	563.3M	-1.41B	772.23M	954.52M	622.26M	931.5M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.24%	0.88%	0.9%	0.01%	-0.42%	-3.5%	1.55%	0.24%	-0.35%	0.5%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-	1%	0.24%	0.94%	-1.15%	-11.53%	1.55%	0.25%	-0.33%	0.48%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.32	2.12	3.15	2.81	1.34	-3.27	1.51	1.80	1.10	1.67
EPS Growth %	-0.48%	0.61%	0.49%	-0.11%	-0.52%	-3.44%	1.46%	0.19%	-0.39%	0.52%
EPS (Basic)	1.34	2.12	3.17	2.82	1.35	-3.27	1.56	1.84	1.11	1.69
Diluted Shares Outstanding	202.91M	238.49M	304.38M	343.14M	408.99M	415.51M	467.67M	481.64M	483.72M	499.6M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	15.19B	18.37B	22.21B	31.69B	44.88B	33.25B	39.74B	32.48B	39.72B	46.05B
Asset Growth %	0.88%	0.21%	0.21%	0.43%	0.42%	-0.26%	0.2%	-0.18%	0.22%	0.16%
Real Estate & Other Assets+	-4.3B	-7.33B	-11.15B	24.18M	-107.45M	-25.21M	-217.03M	-17.41B	-22.36B	-27.1B
PP&E (Net)	4.12B	7.18B	11.13B	11.26M	50.14M	54.41M	173.75M	115.21M	144.25M	169.72M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	40.76M	37.85M	40.93M	21.21B	30.28B	19.29B	13.58B	11.04B	0	0
Cash & Equivalents	249.94M	290.6M	295.8M	251.06M	528.74M	944.85M	1.33B	1.34B	1.29B	1.46B
Receivables	1000K	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	15.73B	10.44B	0	7.32B	-14.06B	-16.29B
Intangible Assets	1.8B	2.25B	3.08B	3.5B	4.51B	5.03B	7B	9.35B	8.79B	10.65B
Total Liabilities	12.21B	14.9B	17.42B	25.6B	37.64B	27.82B	30.22B	25.47B	32.62B	38.16B
Total Debt+	7.25B	7.99B	7.08B	7.1B	7.72B	25.73B	29.78B	21.9B	26.96B	32.79B
Net Debt	7B	7.7B	6.79B	6.85B	7.19B	24.79B	28.45B	20.57B	25.68B	31.33B
Long-Term Debt	7.25B	7.99B	7.08B	7.22B	7.72B	25.73B	29.78B	0	26.8B	32.63B
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	38.52M	31.27M	142.62M	101.22M	159.24M	160.44M
Total Current Liabilities+	2.06B	1.38B	1.17B	2.27B	902.08M	154K	376.83M	545.06M	0	0
Accounts Payable	762.59M	1.41B	1.24B	2.12B	1.02B	191.85M	376.83M	242.84M	331.76M	393.97M
Deferred Revenue	0	-3.81B	-9.48B	-17.43B	-22.07B	-14.95B	-14.95B	0	0	0
Other Liabilities	-7.25B	-7.99B	-7.1B	-7.22B	-7.76B	-25.77B	-30.36B	-101.22M	-27.8B	-33.6B
Total Equity+	2.99B	3.47B	4.8B	6.09B	7.24B	5.43B	6.67B	7.01B	7.1B	7.89B
Equity Growth %	0.61%	0.16%	0.38%	0.27%	0.19%	-0.25%	0.23%	0.05%	0.01%	0.11%
Shareholders Equity	2.8B	3.26B	4.69B	6B	7.16B	5.32B	6.6B	6.94B	7.01B	7.79B
Minority Interest	190.65M	208.08M	105.96M	90.63M	78.55M	108.67M	65.35M	67.07M	94.1M	91.34M
Common Stock	2.3M	2.51M	3.07M	3.69M	4.16M	4.15M	4.67M	4.74M	4.83M	5.21M
Additional Paid-in Capital	2.64B	2.92B	3.76B	4.75B	5.5B	5.55B	6.06B	6.06B	6.07B	6.53B
Retained Earnings	148.8M	210.5M	559.48M	830.71M	549.73M	-1.11B	-813.04M	-418.66M	-373.14M	-46.98M
Preferred Stock	0	210.5M	559.48M	830.71M	423.44M	812.99M	1.26B	1.26B	1.26B	1.26B
Return on Assets (ROA)	0.02%	0.03%	0.05%	0.04%	0.01%	-0.04%	0.02%	0.03%	0.02%	0.02%
Return on Equity (ROE)	0.11%	0.16%	0.23%	0.18%	0.08%	-0.22%	0.13%	0.14%	0.09%	0.12%
Debt / Assets	0.48%	0.44%	0.32%	0.22%	0.17%	0.77%	0.75%	0.67%	0.68%	0.71%
Debt / Equity	2.43x	2.30x	1.48x	1.17x	1.07x	4.74x	4.47x	3.12x	3.80x	4.16x
Net Debt / EBITDA	12.36x	7.18x	4.01x	4.24x	4.42x	-	20.02x	9.99x	11.77x	10.03x
Book Value per Share	14.72	14.54	15.76	17.74	17.69	13.07	14.26	14.55	14.68	15.79

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	320.76M	560.8M	-899.72M	-1.23B	-1.62B	1.86B	2.88B	5.75B	693.6M	-2.19B
Operating CF Growth %	1.06%	0.75%	-2.6%	-0.37%	-0.32%	2.14%	0.55%	0.99%	-0.88%	-4.15%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	281.88M	582.72M	1.01B	1B	605.93M	-1.36B	805.58M	983.28M	630.67M	941.49M
Depreciation & Amortization	-114.47M	-195.35M	-573.83M	-219.39M	-675.79M	-184.18M	6.07M	0	0	0
Stock-Based Compensation	450K	300K	699K	1.02M	1.05M	1.21M	1.11M	0	0	0
Other Non-Cash Items	3.92M	-115.91M	-1.51B	-2.32B	-1.67B	3.15B	1.1B	4.24B	296.76M	-3.01B
Working Capital Changes	155.6M	254.2M	4.83M	386.54M	64.48M	228.75M	824.74M	261.95M	-323.84M	-374.88M
Cash from Investing+	-312.74M	-182.58M	-1.78B	-5.17B	-10.95B	8.65B	2.31B	132.9M	216.72M	-2.43B
Acquisitions (Net)	-960.72M	-55.52M	1.66B	-123.19M	-1.22B	539.89M	-1.17B	0	-306.77M	-603.78M
Purchase of Investments	-20.9B	-24.75B	-24.07B	-15.65B	-38.29B	-24.75B	-7.59B	-16.62B	0	-14.39B
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	594.58M	259.51M	-1.64B	464.78M	616.15M	6.96M	-880.68M	-183.85M	-3.85B	489.65M
Cash from Financing+	28.93M	-269.15M	2.67B	6.37B	12.85B	-10.11B	-4.74B	-5.82B	-842.55M	4.83B
Dividends Paid	-303.02M	-433.41M	-570.23M	-661.86M	-817.12M	-383.57M	-438.54M	-558.3M	-570.88M	-588.06M
Common Dividends	-303.02M	-433.41M	-570.23M	-661.86M	-807.79M	-332.48M	-375.87M	-558.3M	-570.88M	-588.06M
Debt Issuance (Net)	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K
Share Repurchases	0	0	0	0	0	-7.46M	0	-5.23M	0	0
Other Financing	-126.2M	-102.69M	-155.22M	4.8B	10.74B	-556.67M	121.02M	1.43B	270.02M	1.12B
Net Change in Cash+	36.95M	109.06M	-7.65M	-30.97M	275.86M	389.54M	447.97M	67.72M	67.77M	220.71M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	212.99M	344.64M	453.7M	446.05M	415.08M	690.93M	1.08B	1.56B	1.63B	1.7B
Cash at End	249.94M	453.7M	446.05M	415.08M	690.93M	1.08B	1.53B	1.63B	1.7B	1.92B
Free Cash Flow+	68.64M	32M	-2.56B	-2.42B	-3.07B	1.32B	2.86B	5.75B	693.6M	-2.32B
FCF Growth %	0.12%	-0.53%	-81.05%	0.05%	-0.27%	1.43%	1.17%	1.01%	-0.88%	-4.34%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	0.76	1.3	1.26	2.17	-0.28	-3.39	1.66	2.02	1.34	1.92
FFO Payout Ratio	196.55%	140.22%	148.61%	88.89%	-718.1%	-23.58%	48.29%	57.35%	87.77%	61.16%
NOI Margin	91.62%	88.37%	81.72%	84.02%	85.09%	79.01%	88.17%	61.56%	95.3%	94.41%
Net Debt / EBITDA	12.36x	7.18x	4.01x	4.24x	4.42x	-	20.02x	9.99x	11.77x	10.03x
Debt / Assets	47.72%	43.51%	31.89%	22.41%	17.2%	77.39%	74.94%	67.43%	67.89%	71.21%
Book Value / Share	14.72	14.54	15.76	17.74	17.69	13.07	14.26	14.55	14.68	15.79
Revenue Growth	41.07%	73.69%	66.33%	21.54%	22.01%	-49.62%	99.1%	-42.38%	125.13%	26.13%

Revenue by Segment

	2022	2023	2024
Interest Revenue	-	-	1.95B
Interest Revenue Growth	-	-	-
Asset Management	-	-	520.29M
Asset Management Growth	-	-	-
Product and Service, Other	-	-	227.47M
Product and Service, Other Growth	-	-	-
Mortgage Loans Receivable	166.48M	241.93M	-
Mortgage Loans Receivable Growth	-	45.32%	-
Asset Management	-	86.47M	-
Asset Management Growth	-	-	-
Corporate	20.78M	-	-
Corporate Growth	-	-	-
Servicer And Origination	4.13B	-	-
Servicer And Origination Growth	-	-	-
Servicing	2.4B	-	-
Servicing Growth	-	-	-
Origination	1.21B	-	-
Origination Growth	-	-	-
MSR Related Investments	506.82M	-	-
MSR Related Investments Growth	-	-	-
Consumer Loans	68.79M	-	-
Consumer Loans Growth	-	-	-

Frequently Asked Questions

Valuation & Price

Rithm Capital Corp. (RITM) has a price-to-earnings (P/E) ratio of 6.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Rithm Capital Corp. (RITM) reported $4.98B in revenue for fiscal year 2024. This represents a 11712% increase from $42.2M in 2012.

Rithm Capital Corp. (RITM) grew revenue by 26.1% over the past year. This is strong growth.

Yes, Rithm Capital Corp. (RITM) is profitable, generating $886.6M in net income for fiscal year 2024 (19.7% net margin).

Dividend & Returns

Yes, Rithm Capital Corp. (RITM) pays a dividend with a yield of 10.51%. This makes it attractive for income-focused investors.

Rithm Capital Corp. (RITM) has a return on equity (ROE) of 12.4%. This is reasonable for most industries.

Industry Metrics

Rithm Capital Corp. (RITM) generated Funds From Operations (FFO) of $932.2M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Rithm Capital Corp. (RITM) offers a 10.51% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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