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Onity Group Inc., a financial services company, originates and services forward and reserve mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through the Servicing and Originations segments. The company offers owned mortgage servicing rights and subservicing products; conventional, government-insured, and non-agency mortgage loans, as well as reverse mortgage and multi-family loans; and residential forward mortgage and small commercial mortgage loans. It also originates and purchases conventional and government-insured residential forward and reverse mortgage loans through its correspondent lending arrangements, broker relationships, and retail channels. In addition, the company engages in reinsurance business. The company offers its services under the PHH Mortgage and Liberty Reverse Mortgage brands. It serves financial institutions. The company was formerly known as Ocwen Financial Corporation and changed its name to Onity Group Inc. in June 2024. Onity Group Inc. was founded in 1988 and is headquartered in West Palm Beach, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | $238M | $190M | $-1.1B | 30.2% | 12.4% | 459.0% |
| 2024 | $1.1B | $256M | $34M | $-807M | 7.7% | -6.6% | - |
| 2023 | $1.1B | $239M | $-64M | $-112M | -15.9% | 14.5% | -347.9% |
| 2022 | $1000M | $286M | $26M | $-32M | 5.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 999.50 | 1,144.60 | 1,069.30 | 1,202.20 |
| Cost Of Revenue | 540.30 | 560.10 | 573.70 | 620.10 |
| Gross Profit | 459.20 | 584.50 | 495.60 | 582.10 |
| Operating Expense | 188.50 | 357.80 | 247.80 | 350 |
| Operating Income | 270.70 | 226.70 | 247.80 | 232.10 |
| EBITDA | 285.50 | 238.80 | 256.10 | 237.50 |
| EBIT | 270.70 | 226.70 | 247.80 | 232.10 |
| Pretax Income | 24.90 | -58.10 | 39.30 | 62.70 |
| Tax Provision | -0.80 | 5.60 | 5.30 | -126.80 |
| Net Income | 25.70 | -63.70 | 33.90 | 189.50 |
| Net Income Common Stockholders | 25.70 | -63.70 | 33.90 | 189.50 |
| Total Expenses | 728.80 | 917.90 | 821.50 | 970.10 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 |
| Selling General And Administration | 149 | 106.60 | 136.90 | 165.50 |
| Normalized EBITDA | 284.60 | 237.50 | 305.50 | 237.50 |
| Normalized Income | 24.99 | -64.73 | 76.38 | 189.50 |
| Basic EPS | 2.97 | -8.34 | 4.28 | 23.07 |
| Diluted EPS | 2.85 | -8.34 | 4.13 | 21.46 |
| Tax Effect Of Unusual Items | 0.19 | 0.27 | -6.92 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.14 | 0.21 |
| Total Unusual Items | 0.90 | 1.30 | -49.40 | 0 |
| Total Unusual Items Excluding Goodwill | 0.90 | 1.30 | -49.40 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 25.70 | -63.70 | 33.90 | 189.50 |
| Reconciled Depreciation | 14.80 | 12.10 | 8.30 | 5.40 |
| Reconciled Cost Of Revenue | 540.30 | 560.10 | 573.70 | 620.10 |
| Net Interest Income | 0 | 0 | 0 | 0 |
| Net Income From Continuing And Discontinued Operation | 25.70 | -63.70 | 33.90 | 189.50 |
| Rent Expense Supplemental | 41.80 | 31.80 | 31.40 | 33.60 |
| Diluted Average Shares | 9 | 7.64 | 8.21 | 8.64 |
| Basic Average Shares | 8.65 | 7.64 | 7.92 | 8.04 |
| Diluted NI Availto Com Stockholders | 25.70 | -63.70 | 33.40 | 185.40 |
| Average Dilution Earnings | 0 | 0 | -0.50 | -4.20 |
| Net Income Including Noncontrolling Interests | 25.70 | -63.70 | 33.90 | 189.50 |
| Net Income Continuous Operations | 25.70 | -63.70 | 33.90 | 189.50 |
| Other Income Expense | -245.80 | -284.90 | -208.50 | -169.20 |
| Other Non Operating Income Expenses | -265.20 | -293.50 | -182 | -169.20 |
| Special Income Charges | 0.90 | 1.30 | -49.40 | 0 |
| Other Special Charges | -0.90 | -1.30 | 49.40 | 0 |
| Earnings From Equity Interest | 18.50 | 7.30 | 22.90 | 0 |
| Net Non Operating Interest Income Expense | 0 | 0 | 0 | 0 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 0 | 0 | 0 | 0 |
| Other Operating Expenses | 39.50 | 251.20 | 110.90 | 184.50 |
| General And Administrative Expense | 149 | 106.60 | 136.90 | 165.50 |
| Other Gand A | 107.20 | 74.80 | 105.50 | 131.90 |
| Rent And Landing Fees | 41.80 | 31.80 | 31.40 | 33.60 |
| Operating Revenue | 966.30 | 1,112.60 | 1,027.30 | 1,144.40 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Onity Group Inc.this co. | ONIT | $390M | 2.13↓ discount | 0.62 | 30.2% | 25.75 |
| RBB Bancorp | RBB | $408M | 10.11 | 0.78 | 6.1% | - |
| GBank Financial Holdings Inc. | GBFH | $407M | 19.55 | 2.44 | 12.6% | - |
| Chaince Digital Holdings Inc. | CD | $406M | - | 8.46 | -11.6% | -100.98 |
| Greene County Bancorp, Inc. | GCBC | $402M |
| 10.31 |
| 1.50 |
| 13.0% |
| - |
| Commercial Bancgroup, Inc. | CBK | $391M | 10.27 | 1.37 | 13.0% | - |
| Investar Holding Corporation | ISTR | $381M | 12.22 | 1.00 | 7.6% | - |
| American Integrity Insurance Group, Inc. | AII | $379M | 3.43 | 1.13 | 29.6% | 1.35 |
| First Bank | FRBA | $377M | 8.63 | 0.84 | 9.8% | - |
| Peer Median | - | 10.27 | 1.25 | 11.2% | -49.81 | |