Latest Ratios: P/E Ratio 9.1x · EV/EBITDA 16.3x · ROE 8.0%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.3B | $6.2B | $5.4B | $5.2B | $3.9B | $5.0B | $4.1B | $6.6B | $4.9B | $5.4B | $3.7B |
| Enterprise Value | $43.0B | $43.9B | $36.7B | $30.8B | $27.9B | $35.4B | $28.9B | $13.8B | $11.7B | $12.2B | $11.4B |
| P/E Ratio → | 9.06 | 10.48 | 6.49 | 9.71 | 4.54 | 7.09 | — | 12.02 | 5.06 | 5.68 | 7.42 |
| P/S Ratio | 0.93 | 1.08 | 1.14 | 1.38 | 2.36 | 1.73 | 2.84 | 2.28 | 2.06 | 2.79 | 3.20 |
| P/B Ratio | 0.57 | 0.67 | 0.69 | 0.73 | 0.56 | 0.75 | 0.76 | 0.91 | 0.80 | 1.13 | 1.08 |
| P/FCF | — | — | — | 7.45 | 0.68 | 1.75 | 3.14 | — | — | — | 117.17 |
| P/OCF | — | — | — | 7.45 | 0.68 | 1.74 | 2.23 | — | — | — | 6.69 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.72 | 7.75 | 8.21 | 16.74 | 12.22 | 19.88 | 4.77 | 4.95 | 6.28 | 9.78 |
| EV / EBITDA | 16.28 | 16.62 | 11.76 | 14.13 | 13.56 | 24.90 | — | 8.47 | 7.25 | 7.22 | 10.67 |
| EV / EBIT | 16.97 | 35.21 | 11.87 | 14.32 | 13.69 | 24.22 | — | 8.47 | 7.25 | 7.22 | 10.67 |
| EV / FCF | — | — | — | 44.47 | 4.85 | 12.37 | 21.97 | — | — | — | 357.82 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 90.5% | 90.5% | 94.4% | 95.3% | 61.6% | 88.2% | 79.0% | 85.1% | 84.0% | 81.7% | 88.4% |
| Operating Margin | 44.6% | 44.6% | 65.3% | 57.3% | 122.3% | 48.8% | -38.9% | 56.3% | 68.3% | 87.0% | 91.6% |
| Net Profit Margin | 12.0% | 12.0% | 19.7% | 16.6% | 57.2% | 26.7% | -96.9% | 19.5% | 40.7% | 49.2% | 43.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.0% | 8.0% | 12.4% | 8.8% | 14.0% | 12.8% | -22.3% | 8.5% | 17.7% | 23.2% | 15.6% |
| ROA | 1.4% | 1.4% | 2.2% | 1.7% | 2.6% | 2.1% | -3.6% | 1.5% | 3.6% | 4.7% | 3.0% |
| ROIC | 4.4% | 4.4% | 6.4% | 5.1% | 4.5% | 3.2% | -1.9% | 8.9% | 9.9% | 11.2% | 7.6% |
| ROCE | 5.7% | 5.7% | 7.2% | 5.8% | 5.9% | 4.0% | -1.5% | 4.4% | 6.4% | 8.9% | 7.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.28 | 4.28 | 4.16 | 3.80 | 3.61 | 4.75 | 4.74 | 1.07 | 1.17 | 1.48 | 2.30 |
| Debt / EBITDA | 14.98 | 14.98 | 10.49 | 12.36 | 12.30 | 22.32 | — | 4.75 | 4.39 | 4.18 | 7.45 |
| Net Debt / Equity | — | 4.08 | 3.97 | 3.62 | 3.42 | 4.55 | 4.57 | 0.99 | 1.13 | 1.42 | 2.22 |
| Net Debt / EBITDA | 14.29 | 14.29 | 10.03 | 11.77 | 11.65 | 21.38 | — | 4.42 | 4.24 | 4.01 | 7.18 |
| Debt / FCF | — | — | — | 37.02 | 4.17 | 10.62 | 18.84 | — | — | — | 240.65 |
| Interest Coverage | 2.83 | 2.83 | 1.64 | 1.54 | 2.62 | 2.94 | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.79 | 1.79 | — | — | 4.02 | 4.65 | 125272.89 | 33.57 | 9.35 | 0.03 | 0.03 |
| Quick Ratio | 1.79 | 1.79 | — | — | 4.02 | 4.65 | 124978.74 | 33.47 | 9.30 | -0.07 | -0.02 |
| Cash Ratio | 1.35 | 1.35 | — | — | 3.64 | 4.26 | 98632.55 | 22.18 | 5.24 | 7.15 | 3.88 |
| Asset Turnover | — | 0.11 | 0.10 | 0.09 | 0.05 | 0.07 | 0.04 | 0.06 | 0.07 | 0.09 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | 6.74 | 4.60 | 3.34 | 2.77 | 2.28 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 12.1% | 10.4% | 10.9% | 11.1% | 14.2% | 7.5% | 8.0% | 12.3% | 13.6% | 10.5% | 11.6% |
| Payout Ratio | 94.4% | 94.4% | 63.1% | 91.7% | 58.5% | 48.7% | — | 143.4% | 68.7% | 59.6% | 85.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.0% | 9.5% | 15.4% | 10.3% | 22.0% | 14.1% | — | 8.3% | 19.8% | 17.6% | 13.5% |
| FCF Yield | — | — | — | 13.4% | 146.2% | 57.1% | 31.9% | — | — | — | 0.9% |
| Buyback Yield | 1.0% | 0.8% | 0.0% | 0.0% | 0.1% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 13.0% | 11.3% | 10.9% | 11.1% | 14.3% | 7.5% | 8.2% | 12.3% | 13.6% | 10.5% | 11.6% |
| Shares Outstanding | — | $565M | $500M | $484M | $482M | $468M | $416M | $409M | $343M | $304M | $238M |
Includes 30+ ratios · 14 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying RITM stock.
Rithm Capital Corp.'s current P/E ratio is 9.1x. The historical average is 7.4x. This places it at the 67th percentile of its historical range.
Rithm Capital Corp.'s current EV/EBITDA is 16.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.4x.
Rithm Capital Corp.'s return on equity (ROE) is 8.0%. The historical average is 12.1%.
Based on historical data, Rithm Capital Corp. is trading at a P/E of 9.1x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Rithm Capital Corp.'s current dividend yield is 12.09% with a payout ratio of 94.4%.
Rithm Capital Corp. has 90.5% gross margin and 44.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Rithm Capital Corp.'s Debt/EBITDA ratio is 15.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
High leverage and EPS volatility
Metrics are mathematically derived from official filings.
Valuation Signals Distressed Earnings
RITM trades at 9.8x trailing earnings and 0.62x book, but P/FFO of 16.6x in Q2 2026 suggests the market is pricing in a sharp FFO recovery, per reported data.
The P/FFO multiple of 16.6x in Q2 2026 is elevated relative to the trailing P/E of 9.8x, indicating that FFO per share of $0.26 is depressed and the market expects normalization. The implied cap rate, derived from NOI and enterprise value, appears low, suggesting the market is valuing the MSR portfolio and asset management potential rather than current cash flows. Investors should monitor whether the Sculptor integration and recapture rates justify this premium.
NOI Margin Compression Signals Cost Pressures
NOI margin fell 500 basis points sequentially to 63.8% in Q2 2026, as reported in financial statements, indicating rising operating costs or a shift in revenue mix.
The sharp decline in NOI margin from 68.8% to 63.8% suggests that operating expenses are growing faster than revenue, or that lower-margin segments are gaining weight. This compression, combined with a 53% drop in FFO per share, implies that top-line growth is not translating into core profitability. The company's high fixed-cost base, including compensation for the Sculptor team, may be pressuring margins, and investors should monitor whether this is a temporary blip or a structural shift.
Dividend Coverage Under Pressure
In Q2 2026, FFO payout ratio reached 116.4%, per reported figures, indicating that dividends exceeded FFO and may require external funding or cash reserves.
The FFO payout ratio of 116.4% in Q2 2026 is unsustainable if it persists, as it implies the dividend is not fully covered by core earnings. AFFO of $148.2M covered only 85% of dividends paid, suggesting a reliance on cash reserves or debt to bridge the gap. While the dividend yield of 11.2% is attractive, investors should monitor whether management will maintain the payout or adjust it to align with distributable earnings.
Leverage Creeps Higher Amidst Earnings Drag
Debt-to-equity rose to 4.26 in Q2 2026 from 4.18 in Q1, as reported in financial statements, while interest coverage fell to 0.01, indicating heightened refinancing risk.
The increase in leverage, combined with a collapse in interest coverage to 0.01, suggests that earnings are barely covering interest expenses, which is a red flag for a highly levered financial firm. The debt maturity profile and fixed-rate exposure are not disclosed, but the high D/E and low coverage imply vulnerability to rising rates. Investors should monitor the company's ability to refinance maturing debt and whether the Sculptor acquisition adds to balance-sheet strain.
Occupancy and G&A Efficiency Under Scrutiny
Occupancy rates are not disclosed, but G&A efficiency appears strained as NOI margin fell to 63.8% in Q2 2026, per reported data, suggesting rising operating costs.
The lack of occupancy data limits direct assessment, but the decline in NOI margin indicates that property-level profitability is weakening. The company's diversification into consumer loans and asset management may be diluting margins, and the high fixed-cost base of the servicing platform could be a drag. Investors should monitor whether the recapture rate and MSR cash flows can offset these pressures.
P/E Misleads on Depreciation and Fair Value
Standard P/E of 9.8x is distorted by depreciation and fair value marks, as GAAP net income of $56.3M is less than half of FFO of $149.8M, per reported figures.
For a mortgage REIT, P/E is misleading because depreciation and non-cash fair value adjustments obscure the underlying cash-generating ability. Investors should use P/FFO or P/AFFO, but even these require adjustments for maintenance capex and servicing advances. The reported FFO payout ratio of 116.4% in Q2 2026 suggests that distributable earnings may be overstated, and investors should focus on cash flow metrics that capture the true cost of maintaining the MSR portfolio.