Rithm Capital reported Q4 2025 earnings available for distribution of $418.9 million, or $0.74 per diluted common share, surpassing the Zacks Consensus Estimate of $0.55. GAAP net income totaled $53.1 million, or $0.09 per share, compared with $193.7 million, or $0.35 per share, in Q3. The company declared a common dividend of $139.0 million, or $0.25 per share, representing a consistent payout ratio despite the impact of mark-to-market adjustments on mortgage servicing rights. Book value per share stood at $12.66 as of December 31, 2025.

For the full year 2025, Rithm delivered GAAP net income of $567.2 million, or $1.04 per diluted share, and earnings available for distribution of $1.28 billion, or $2.35 per share, up from $1.05 billion, or $2.10 per share in 2024. The board approved $542.6 million in common dividends, or $1.00 per share, reflecting a 20% increase in distributions year over year. Return on equity based on earnings available for distribution improved to 19% for the year, underscoring disciplined capital deployment across the platform.

Rithm’s mortgage origination and servicing arm, Newrez, generated Q4 pre-tax operating income of $249.1 million (excluding MSR mark-to-market and other items) and produced a 17% annualized operating ROE on $5.9 billion of equity. Originations rose 15% sequentially to $18.8 billion, pushing full-year funded production to $63.3 billion. Residential transitional lender Genesis Capital expanded originations by 17% year over year to $1.4 billion in Q4 and added 96 new sponsors, while alternative asset manager Sculptor Capital grew AUM to $38 billion with $5.8 billion of inflows. The acquisitions of Crestline Management ($18 billion AUM) and Paramount Group further diversify Rithm’s investable assets beyond $100 billion.