Rithm Capital (RITM) revenue breakdown
By segment, Origination and Servicing is the largest at 68% of fiscal 2025 revenue; Asset management grew fastest, 184% a year over 2 years.
By product, Servicing fee revenue, net and interest income from MSRs and MSR financing receivables is the largest at 40% of fiscal 2025 revenue; Incentive income grew fastest, 617% a year over 1 years.
Revenue by segment
Fiscal years, as Rithm Capital reports them in its 10-K filings; fiscal 2025 total $4.6B.
| Segments | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|
| Origination and Servicing | $2.7B | $4.4B | $3.0B | $3.7B | $3.1B | 68% |
| Asset management | — | — | $86M | $542M | $699M | 15% |
| Investment Portfolio | $1.1B | $341M | $464M | $436M | $445M | 10% |
| Residential Transitional Lending | — | $145M | $206M | $258M | $302M | 7% |
| Corporate Category | — | $278,000 | — | $7,000 | $10M | 0% |
| Mortgage Loans Receivable | $4M | — | — | — | — | — |
Revenue by product
Fiscal years, as Rithm Capital reports them in its 10-K filings; fiscal 2025 total $5.8B.
| Products | 2021 | 2022 | 2023 | 2025 | Share |
|---|---|---|---|---|---|
| Servicing fee revenue, net and interest income from MSRs and MSR financing receivables | $1.6B | $1.8B | $1.9B | $2.3B | 40% |
| Interest income | $811M | $1.0B | $1.6B | $1.9B | 33% |
| Gain on originated residential mortgage loans, held-for-sale, net | $1.8B | $1.1B | $533M | $730M | 13% |
| Incentive income | — | — | $51M | $364M | 6% |
| Management fees | — | — | $29M | $263M | 5% |
| Property and maintenance | $105M | $132M | $133M | $110M | 2% |
| Rental | — | $55M | $73M | $102M | 2% |
| Other | $47M | $44M | $30M | $27M | 0% |
| Other asset management revenue | — | — | $2M | — | — |
| Rental | $14M | — | — | — | — |
| Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(746,006), $(602,241) and $(518,978), respectively) | -$578M | $727M | -$595M | -$1.2B | -20% |
Questions
Where does Rithm Capital make its money?
In fiscal 2025, by segment: Origination and Servicing $3.1B, Asset management $699M, Investment Portfolio $445M, Residential Transitional Lending $302M, Corporate Category $10M.
From Rithm Capital's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.