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Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services in the United States. It operates through Origination and Servicing, Residential Transitional Lending, and Asset Management and Investment Portfolio. The company's investment portfolio primarily comprises of single-family rental properties, title, appraisal and property preservation and maintenance businesses; real estate securities, call rights, SFR properties, residential mortgage loans, collateralized loan obligations and consumer loans, excess mortgage servicing rights, servicer advance investments, and asset management related investments. It also provides government-sponsored enterprise (GSE) and government guaranteed loans; non-GSE or non-government guaranteed loans; and residential transitional lending. The company qualifies as a real estate investment trust for federal income tax purposes. It 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 based in New York, New York.
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 | $2.9B | - | $681M | $-1.3B | 9.7% | -5.0% | -26.8% |
| 2024 | $3.0B | - | $932M | $-2.3B | 14.2% | 43.3% | 49.7% |
| 2023 | $2.1B | - | $622M | $694M | 10.8% | -40.7% | -34.8% |
| 2022 | $3.6B | - | $955M | $5.8B | 16.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,551.89 | 2,107.66 | 3,020.80 | 2,870.71 |
| Operating Revenue | - | 3,551.89 | 2,107.66 | 3,020.80 | 2,870.71 |
| Selling General And Administration | - | 1,498.10 | 1,022.40 | 1,409.12 | 1,632.52 |
| Interest Income | - | 1,038.46 | 1,616.19 | 1,949.79 | 1,874.32 |
| Interest Expense | - | 777.79 | 1,401.33 | 1,835.32 | 1,662.43 |
| Net Interest Income | - | 260.67 | 214.86 | 114.46 | 211.88 |
| Pretax Income | - | 1,262.80 | 752.83 | 1,208.81 | 806.38 |
| Tax Provision | - | 279.52 | 122.16 | 267.32 | 88.29 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 2.13 | 0 |
| Net Income Continuous Operations | - | 983.28 | 630.67 | 941.49 | 718.09 |
| Net Income From Continuing And Discontinued Operation | - | 954.52 | 622.26 | 931.50 | 681.45 |
| Net Income From Continuing Operation Net Minority Interest | - | 954.52 | 622.26 | 931.50 | 681.45 |
| Net Income | - | 954.52 | 622.26 | 931.50 | 681.45 |
| Net Income Common Stockholders | - | 864.79 | 532.68 | 835.05 | 567.20 |
| Net Income Including Noncontrolling Interests | - | 983.28 | 630.67 | 941.49 | 718.09 |
| Normalized Income | - | 954.52 | 622.26 | 924.01 | 681.45 |
| Diluted NI Availto Com Stockholders | - | 864.79 | 532.68 | 835.05 | 567.20 |
| Basic Average Shares | - | 468.84 | 481.93 | 495.48 | 537.88 |
| Diluted Average Shares | - | 481.64 | 483.72 | 499.60 | 546.09 |
| Reconciled Depreciation | - | 89.50 | 80.68 | 124.13 | 107.48 |
| Total Unusual Items | 0.62 | -4.15 | - | 9.62 | - |
| Total Unusual Items Excluding Goodwill | 0.62 | -4.15 | - | 9.62 | - |
| Preferred Stock Dividends | - | 89.73 | 89.58 | 96.46 | 114.25 |
| Minority Interests | - | -28.77 | -8.42 | -9.99 | -36.65 |
| Special Income Charges | 3.50 | 0 | - | 9.62 | - |
| Restructuring And Mergern Acquisition | -4.99 | - | - | -9.62 | - |
| Gain On Sale Of Security | - | -19.07 | -9.76 | 38.57 | 103.76 |
| Depreciation Amortization Depletion Income Statement | - | 89.50 | 80.68 | 124.13 | 107.48 |
| Depreciation And Amortization In Income Statement | - | 89.50 | 80.68 | 124.13 | 107.48 |
| General And Administrative Expense | - | 1,498.10 | 1,022.40 | 1,409.12 | 1,632.52 |
| Other Gand A | - | 266.65 | 235.31 | 274.36 | 313.64 |
| Salaries And Wages | - | 1,231.45 | 787.09 | 1,134.77 | 1,318.88 |
| Occupancy And Equipment | - | 176.48 | 147.95 | 183.89 | 187.80 |
| Professional Expense And Contract Services Expense | - | 78.84 | 103.80 | 104.46 | 136.52 |
| Other Non Interest Expense | 95.93 | 446.17 | - | - | - |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Rithm Capital Corp.this co. | RITM | $5.1B | 7.51↓ discount | 0.73 | 9.7% | - |
| Essential Properties Realty Trust, Inc. | EPRT | $6.4B | 25.43 | 1.53 | 6.0% | 17.24 |
| OUTFRONT Media Inc. | OUT | $5.5B | 37.55 | 7.77 | 20.7% | 21.08 |
| Phillips Edison & Company, Inc. | PECO | $5.4B | 48.83 | 2.38 | 4.9% | 15.86 |
| Millrose Properties, Inc. | MRP |
| - |
| - |
| - |
| - |
| - |
| $4.8B |
| 12.59 |
| 0.82 |
| 6.5% |
| 13.94 |
| Tanger Inc. | SKT | $4.2B | 36.39 | 5.91 | 16.2% | 17.38 |
| Broadstone Net Lease, Inc. | BNL | $4.0B | 41.92 | 1.39 | 3.3% | 18.16 |
| The St. Joe Company | JOE | $3.7B | 32.30 | 4.87 | 15.1% | 17.92 |
| Apple Hospitality REIT, Inc. | APLE | $3.7B | 21.09 | 1.17 | 5.6% | 11.86 |
| Peer Median | - | 34.34 | 1.95 | 6.3% | 17.31 | |