PennyMac Financial Services, Inc. vs Rocket Companies, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
PennyMac earns 11.7% on equity through the origination trough; Rocket earns 1%, and the difference is servicing: PennyMac's mortgage-servicing book pays it while rates stay high, Rocket's model waits for them to fall. The market prices the waiting at 115.2 times trough earnings and the earning at 9.1, a twelve-fold multiple premium for the more rate-levered franchise. Net margins, 23.5% against 2.8%, restate it. Both carry meaningful leverage; both show the loan-flow cash noise of the trade. Rocket's $43B against PennyMac's $5B prices the platform story, Redfin and Mr. Cooper included. When the cycle turns, both win; until then, exactly one of them is being paid.
Comparison updated 2026-07-10.
| Metric | PFSI | RKT |
|---|---|---|
| Price | $86.05 | $14.97 |
| Market cap | $4.6B | $42.6B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | 9.1 | 115.2 |
| P/B | 1.07 | 1.83 |
| P/S | 2.15 | 4.99 |
| EV/EBITDA | 787.9 | 123.1 |
| Revenue growth | +26.0% | +92.1% |
| Net margin | 23.5% | 2.8% |
| Return on equity | 11.7% | 1.0% |
| Return on assets | 1.6% | 0.4% |
| Dividend yield | 1.4% | — |
| Debt / equity | 1.44 | 0.45 |
| Altman Z (solvency) | 0.36 | 0.86 |
| Piotroski F (quality) | 5 / 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.