Rithm Capital Corp. RITM
Rithm Capital is a global asset manager focused on real estate, credit and financial services. We are a Delaware corporation formed in September 2011, commencing operations in December 2011 and becoming a publicly traded company on May 15, 2013. We have operated as a REIT for U.S. federal income tax purposes since inception and, since June 17, 2022, have been structured as an internally managed REIT.
We seek to generate long-term value for our stockholders by leveraging our investment expertise and operating capabilities to identify, acquire, manage and enhance the value of real estate-related and other financial assets. Our platform integrates operating companies, investment portfolios and asset management capabilities across the residential mortgage, real estate and credit markets. Headquartered in New York City, Rithm Capital has a global presence with offices in London, Hong Kong, Tokyo, Toronto and Abu Dhabi.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.59B | $4.92B | $3.73B | $4.92B | $3.73B | $1.67B | $2.42B | $2.28B | — | — |
| SG&A | $1.01B | $868.5M | $761.1M | $896.1M | $865.8M | $548.4M | $496.5M | $441.9M | $67.2M | $38.6M |
| Total operating expenses | $3.99B | $3.84B | $2.95B | $3.35B | $2.62B | $1.79B | $1.89B | $1.21B | $422.6M | $174.2M |
| Interest expense | — | — | $1.42B | $791.0M | $497.3M | $584.5M | $933.8M | $606.4M | $460.9M | $373.4M |
| Pre-tax income | $806.4M | $1.21B | $752.8M | $1.26B | $963.8M | -$1.34B | $647.7M | $931.1M | $1.18B | $621.6M |
| Income tax | $88.3M | $267.3M | $122.2M | $279.5M | $158.2M | $16.9M | $41.8M | $73.4M | $167.6M | $38.9M |
| Net income | $567.2M | $835.0M | $532.7M | $864.8M | $805.6M | -$1.36B | $605.9M | $1.00B | $1.01B | $582.7M |
| EPS, basic | 1.05 | 1.69 | 1.11 | 1.84 | 1.56 | -3.52 | 1.35 | 2.82 | 3.17 | 2.12 |
| EPS, diluted | 1.04 | 1.67 | 1.10 | 1.80 | 1.51 | -3.52 | 1.34 | 2.81 | 3.15 | 2.12 |
| Shares, diluted (wtd. avg.) | $546.1M | $499.6M | $483.7M | $481.6M | $467.7M | $415.5M | $409.0M | $343.1M | $304.4M | $238.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.85B | $1.46B | $1.70B | $1.63B | $1.56B | $1.11B | $690.9M | $415.1M | $446.1M | $453.7M |
| Property, plant and equipment | $82.9M | $70.5M | $40.0M | $37.9M | $56.6M | $27.0M | $18.0M | $11.3M | — | — |
| Goodwill | $316.6M | $133.8M | $131.9M | $85.2M | $85.2M | $29.5M | $29.5M | $24.6M | $0 | — |
| Other intangibles | $370.0M | $331.9M | $387.9M | $141.4M | $143.1M | $34.1M | $41.0M | $18.7M | $0 | — |
| Total assets | $53.06B | $46.05B | $39.72B | $34.59B | $39.70B | $33.25B | $44.86B | $31.69B | $22.21B | $18.40B |
| Long-term debt | $35.44B | $32.55B | $26.96B | $22.01B | $29.82B | $25.77B | $35.65B | $22.67B | $15.76B | $13.21B |
| Total liabilities | $43.81B | $38.16B | $32.62B | $27.58B | $32.51B | $27.82B | $37.63B | $25.60B | $17.42B | $14.93B |
| Retained earnings | -$19.9M | -$47.0M | -$373.1M | -$387.9M | -$267.9M | -$1.11B | $549.7M | $830.7M | $559.5M | $210.5M |
| Total equity | $8.43B | $7.79B | $7.01B | $7.01B | $6.67B | $5.43B | $7.24B | $6.09B | $4.80B | $3.47B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.29B | -$2.19B | $693.6M | $5.75B | $3.43B | $1.87B | -$1.60B | -$1.23B | -$899.7M | $560.8M |
| Depreciation and amortisation | $107.5M | $124.1M | $80.7M | $89.5M | $6.1M | $625.0K | $113.0K | — | — | — |
| Investing cash flow | $2.67B | -$2.43B | $216.7M | $132.9M | $2.18B | $8.63B | -$10.97B | -$5.17B | -$1.78B | -$182.6M |
| Financing cash flow | -$507.8M | $4.83B | -$842.5M | -$5.82B | -$5.16B | -$10.11B | $12.85B | $6.37B | $2.67B | -$269.2M |
| Dividends paid | — | — | — | — | $375.9M | $332.5M | $807.8M | $661.9M | $570.2M | $433.4M |
| Buybacks | — | — | — | $5.2M | $0 | $7.5M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041536.
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