AMERICAN EXPRESS CO vs Rocket Companies, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The growth expectations live entirely in the multiples: Rocket at 115.2 times trailing earnings is priced for a mortgage-origination recovery that has barely started, American Express at 21.3 for the steady compounding it already delivers. Rocket's trailing economics are trough artifacts, a 2.8% net margin and 1% return on equity at the bottom of the rate cycle, with the Redfin and Mr. Cooper acquisitions rebuilding the platform meanwhile; Amex's 15.1% and 33% are mid-cycle normal. Free cash favors Amex, 6.1% against negative 3.3%. One price buys certainty at a fair rate; the other pays a three-digit multiple for the shape of the next refinancing wave. Both are rate bets, one explicit, one hidden inside a franchise.
Comparison updated 2026-07-10.
| Metric | AXP | RKT |
|---|---|---|
| Price | $340.48 | $14.97 |
| Market cap | $233.6B | $42.6B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| P/E | 21.3 | 115.2 |
| P/B | 6.87 | 1.83 |
| P/S | 3.15 | 4.99 |
| EV/EBITDA | — | 123.1 |
| Revenue growth | +10.5% | +92.1% |
| Net margin | 15.1% | 2.8% |
| Return on equity | 33.0% | 1.0% |
| Return on assets | 3.6% | 0.4% |
| Dividend yield | 1.0% | — |
| Debt / equity | 1.78 | 0.45 |
| Altman Z (solvency) | 0.87 | 0.86 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.