Rithm Capital Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Rithm Capital Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue			2,279	2,422	1,667	3,729	4,921	3,733	4,917	4,590
General and administrative	38.6	67.2	442	496	548	866	896	761	868	1,012
Operating expenses	174	423	1,206	1,887	1,794	2,619	3,351	2,950	3,839	3,993
Interest expense	373	461	606	934	584	497	791	1,421
Other non-operating income	28.5	6.3	-10.8	44.1	-136	182	131	-40.4	57.3	83.2
Pre-tax income	622	1,182	931	648	-1,341	964	1,263	753	1,209	806
Income tax	38.9	168	-73.4	41.8	16.9	158	280	122	267	88.3
Net income to minority interests	78.3	57.1	40.6	42.6	52.7	33.4	28.8	8.42	9.99	8.82
Net income	504	958	964	550	-1,465	705	865	622	932	697
EPS, basic	2.12	3.17	2.82	1.35	-3.52	1.56	1.84	1.11	1.69	1.05
EPS, diluted	2.12	3.15	2.81	1.34	-3.52	1.51	1.80	1.10	1.67	1.04
Shares, basic (weighted)	238	302	341	409	416	451	469	482	495	538
Shares, diluted (weighted)	238	304	343	409	416	468	482	484	500	546
Dividend per share	1.84	1.98	2.00	2.00	0.50	0.90	1.00	1.00	1.00	1.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	291	296	251	529	945	1,333	1,337	1,287	1,459	1,848
Property, plant and equipment			11.3	18	27	56.6	37.9	40	70.5	82.9
Lease right-of-use assets			0	32.1	26.9	117	77.3	104	99.2	123
Goodwill		0	24.6	29.5	29.5	85.2	85.2	132	134	317
Intangible assets		0	18.7	41	34.1	143	141	388	332	370
Total assets	18,400	22,214	31,691	44,863	33,252	39,742	34,587	39,717	46,049	53,063
Total liabilities	14,931	17,417	25,603	37,627	27,822	33,073	27,576	32,616	38,163	43,808
Total debt	13,209	15,761	22,673	35,651	25,769	29,823	22,011	26,962	32,551	35,443
Paid-in capital	2,921	3,763	4,746	5,498	5,547	6,060	6,062	6,074	6,529	6,983
Retained earnings	211	559	831	550	-1,109	-813	-419	-373	-47	-19.9
Other comprehensive income	126	364	417	682	65.7	90.3	37.7	43.7	50.9	71.1
Shareholders' equity	3,260	4,690	5,998	7,158	5,321	6,604	6,943	7,007	7,795	8,430
Minority interests	208	106	90.6	78.6	109	65.3	67.1	94.1	91.3	510
Total equity	3,468	4,796	6,088	7,236	5,430	6,669	7,010	7,101	7,886	8,940
Total liabilities and equity	18,400	22,214	31,691	44,863	33,252	39,742	34,587	39,717	46,049	53,063
Shares outstanding	251	307	369	416	415	467	474	483	521	556

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	583	1,015	1,005	606	-1,358	806	983	631	941	718
Depreciation and amortization				0.11	0.63	6.07	89.5	80.7	124	107
Stock-based compensation	0.3	0.7	1.02	1.06	1.21	1.11	1.3	14.1	49.1	71.6
Deferred income tax	34.8	169	-80.1	38.2	15	151	271	116	254	60.3
Cash from operations	561	-900	-1,229	-1,598	1,874	3,435	5,753	694	-2,185	-1,292
Acquisitions	0	0	-123	-1,223	0	-1,173	0	-307	-604
Purchases of investments						0	0	-998	-12,361	-99
Cash from investing	-183	-1,778	-5,171	-10,973	8,628	2,184	133	217	-2,425	2,671
Debt issued	31,016	57,763	99,663	243,317
Debt repaid	-29,866	-54,289	-85,916	-196,121	-122,527	-69,207
Stock issued	280	835	983	752	1.74	514		0	410	398
Share buybacks			0	0	-7.46	0	-5.23	0	0	-50
Dividends paid	-433	-570	-662	-808	-332	-376
Cash from financing	-269	2,670	6,369	12,847	-10,112	-5,162	-5,818	-843	4,831	-508
Net change in cash	109	-7.65	-31	276	390	456	67.7	67.8	221	872
Interest paid	350	442	565	902	512	579	825	1,484	1,741	1,765
Income taxes paid	1.11	5.02	5.01	1.48	3.63	23.5	4.01	6.52	12.2	15.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.13 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	13.5%	Pre-tax income / revenue.
Net margin	9.2%	Net income / revenue.
Operating cash flow margin	-37.2%	Cash from operations / revenue.
Effective tax rate	27.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	5.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.
D&A / revenue	4.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	22.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-25.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-6.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-37.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-16.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	14.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	8.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	15.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	15.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	9.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	4.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	66.6%	Total debt / total assets.
Liabilities / assets	82.5%	Total liabilities / total assets.
Net debt	$34.35B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$7.84B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.09x	Revenue / average total assets.
Fixed asset turnover	78.3x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.82	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$8.90	Revenue / diluted weighted shares.
Operating cash flow per share	-$3.31	Cash from operations / diluted weighted shares.
Book value per share	$15.25	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.05	Tangible book value / shares outstanding.
Cash per share	$2.98	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$5.10B	Share price x shares outstanding.
Enterprise value	$39.45B	Market cap + total debt - cash - short-term investments.
P/E	11.0x	Market cap / net income. Only when net income is positive.
P/S	1.01x	Market cap / revenue.
P/B	0.60x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.65x	Market cap / tangible book value, when positive.
EV/Sales	7.80x	Enterprise value / revenue.
Earnings yield	9.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was Rithm Capital Corp.'s revenue in fiscal 2025?

Rithm Capital Corp. reported revenue of $4.59B for fiscal 2025, 6.7% lower than the year before.

Was Rithm Capital Corp. profitable in fiscal 2025?

Yes. Net income was $697.1M, a net margin of 15.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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