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Last update at 2026-06-12T20:00:00Z
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Why Better Home & Finance Holding Company (BETR) Is Surging in 2025
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Wed 27 Nov 24, 12:00 PM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -165.81800M | -205.44000M | -534.42200M | -887.70200M | -303.51100M |
| Minority interest | - | - | - | - | - |
| Net income | -165.87100M | -206.29000M | -536.42000M | -888.80200M | -301.12800M |
| Selling general administrative | 83.68M | 52.23M | 92.84M | 112.16M | 100.69M |
| Selling and marketing expenses | - | 33.98M | 22.08M | 69.02M | 248.90M |
| Gross profit | 148.73M | -42.52400M | -61.31100M | -295.97400M | 342.30M |
| Reconciled depreciation | 14.07M | 33.23M | 42.89M | 49.04M | 27.22M |
| Ebit | -122.97500M | -188.01600M | -502.82600M | -602.33700M | -152.69900M |
| Ebitda | -108.90500M | -154.78900M | -459.93500M | -553.29500M | -125.47900M |
| Depreciation and amortization | 14.07M | 33.23M | 42.89M | 49.04M | 27.22M |
| Non operating income net other | - | - | - | - | - |
| Operating income | -122.97500M | -188.01600M | -291.27600M | -870.83000M | -239.67600M |
| Other operating expenses | 314.35M | 308.07M | 379.78M | 967.17M | 1369.91M |
| Interest expense | 42.84M | - | 31.60M | 303.18M | 100.97M |
| Tax provision | 0.05M | 0.85M | 2.00M | 1.10M | -2.38300M |
| Interest income | - | - | - | - | - |
| Net interest income | - | - | -31.59600M | -303.17600M | -100.97400M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 0.05M | 0.85M | 2.00M | 1.10M | -2.38300M |
| Total revenue | 191.37M | 120.05M | 88.50M | 361.09M | 1217.21M |
| Total operating expenses | 271.71M | 145.49M | 229.97M | 310.10M | 495.00M |
| Cost of revenue | 42.64M | 162.58M | 149.81M | 657.07M | 874.91M |
| Total other income expense net | -42.84300M | -17.42400M | -243.14600M | 21.55M | -49.83800M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -165.87200M | -206.29000M | -536.42000M | -888.80200M | -301.12800M |
| Net income applicable to common shares | - | - | - | -888.80200M | -301.12800M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 1505.43M | 913.06M | 905.55M | 1086.52M | 3299.72M |
| Intangible assets | 21.98M | 20.94M | 38.13M | 62.00M | 72.49M |
| Earning assets | - | - | - | - | - |
| Other current assets | - | 63.24M | 67.51M | 74.46M | 72.71M |
| Total liab | 1468.25M | 971.23M | 782.95M | 1260.34M | 2623.28M |
| Total stockholder equity | 37.18M | -58.17000M | 122.60M | -173.82000M | 676.44M |
| Deferred long term liab | - | - | - | - | 14.26M |
| Other current liab | -832.91500M | 6.19M | 3.38M | 8.00M | 11.55M |
| Common stock | 0.00200M | 0.00200M | 0.07M | 0.01000M | 0.01000M |
| Capital stock | 0.00200M | 0.00200M | 0.07M | 436.29M | 436.29M |
| Retained earnings | -2076.23800M | -1910.36600M | -1704.07600M | -1181.41500M | -292.61300M |
| Other liab | - | - | - | 87.17M | 108.53M |
| Good will | 10.99M | 23.61M | 32.39M | 18.52M | 19.81M |
| Other assets | - | - | 10.11M | - | -0.00100M |
| Cash | 116.61M | 211.10M | 503.59M | 317.96M | 938.32M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 416.49M | 435.56M | 208.26M | 1021.24M | 2340.07M |
| Current deferred revenue | 762.98M | 137.17M | 12.11M | 30.20M | 50.01M |
| Net debt | 498.68M | 556.80M | 168.47M | 780.54M | 1429.61M |
| Short term debt | 411.86M | 244.07M | 126.22M | 894.05M | 2145.25M |
| Short long term debt | 411.86M | 244.07M | 126.22M | 894.05M | 2145.25M |
| Short long term debt total | 615.29M | 767.90M | 672.06M | 1098.50M | 2367.93M |
| Other stockholder equity | 2109.76M | 1854.13M | 1828.32M | 572.73M | 532.87M |
| Property plant equipment | - | - | - | 72.48M | 97.93M |
| Total current assets | 241.27M | 861.86M | 792.09M | 693.87M | 3085.93M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | - | - | -690.62100M | 147.86M |
| Short term investments | 103.61M | 53.77M | 25.60M | - | - |
| Net receivables | 21.05M | 32.19M | 195.39M | 300.31M | 2073.78M |
| Long term debt | 198.80M | 519.75M | 514.64M | 144.40M | 149.02M |
| Inventory | - | 501.56M | 135.56M | 1.14M | 1.12M |
| Accounts payable | 74.56M | 48.13M | 66.56M | 88.98M | 133.26M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 3.66M | -1.93600M | -1.71400M | -1.42300M | -0.10500M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 496.67M | 2.54M | 6.51M | 239.65M | 23.56M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 1264.16M | 51.19M | 113.47M | 392.65M | 213.79M |
| Capital lease obligations | 4.63M | 4.08M | 31.20M | 60.05M | 73.66M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -46.36200M | -143.81000M | -38.59400M | -34.65700M | -68.70300M |
| Change to liabilities | - | - | - | -40.55700M | -7.95800M |
| Total cashflows from investing activities | -595.92800M | -143.81000M | -38.59400M | -34.65700M | -68.70300M |
| Net borrowings | 56.19M | 116.75M | 363.24M | -1529.99000M | 289.00M |
| Total cash from financing activities | 714.34M | 239.13M | 381.40M | -1537.10000M | 304.54M |
| Change to operating activities | - | - | - | 1524.99M | 425.21M |
| Net income | -165.87100M | -206.29000M | -536.42000M | -888.80200M | -301.12800M |
| Change in cash | -118.90200M | -292.54900M | 182.00M | -632.80900M | 597.09M |
| Begin period cash flow | 235.52M | 528.07M | 346.06M | 978.87M | 381.79M |
| End period cash flow | 116.61M | 235.52M | 528.07M | 346.06M | 978.87M |
| Total cash from operating activities | -232.15400M | -379.97100M | -159.72000M | 938.22M | 361.21M |
| Issuance of capital stock | 29.22M | 0.00000M | 16.35M | - | - |
| Depreciation | 14.07M | 33.23M | 42.89M | 49.04M | 27.22M |
| Other cashflows from investing activities | -472.75800M | -105.17400M | - | - | - |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | 2.29M | -1.90800M | -0.09700M | - | - |
| Sale purchase of stock | - | - | 0.00000M | -7.16900M | -5.64800M |
| Other cashflows from financing activities | - | 122.29M | 1.81M | 10131.62M | 51351.22M |
| Change to netincome | - | - | - | 293.55M | 217.87M |
| Capital expenditures | 1.19M | 10.08M | 9.78M | 35.28M | 68.65M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 26.33M | -10.28000M | -52.93400M | -10551.48100M | -51374.38300M |
| Stock based compensation | 20.43M | 26.75M | 54.16M | 38.56M | 55.22M |
| Other non cash items | -106.68000M | -223.38100M | 332.58M | 12317.75M | 51835.98M |
| Free cash flow | -233.34700M | -390.05300M | -169.49800M | 902.94M | 292.57M |
Sector: Financial Services Industry: Mortgage Finance
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| BETR Better Home & Finance Holding Company |
2.41 10.00% | 26.51 | - | - | 4.74 | 18.24 | 5.27 | -0.8513 |
| FMCCT Federal Home Loan Mortgage Corp Pref Perpetual |
- -% | 16.95 | 279.41 | - | 2.78 | - | ||
| RKT Rocket Companies Inc |
-0.36 2.68% | 13.07 | 8.17 | 62.50 | 7.58 | 3.14 | ||
| UWMC UWM Holdings Corp |
-0.01 0.42% | 2.38 | 47.99 | 30.21 | 10.56 | 5.04 | 25.69 | 22.05 |
| FNMAS Federal National Mortgage Association Pref S |
0.20 1.72% | 11.85 | 1701.43 | - | 0.55 | - |
Better Home & Finance Holding Company operates as a homeownership company in the United States. The company provides government-sponsored enterprise (GSE) conforming loans, Federal Housing Administration insured loans, Department of Veterans Affairs guaranteed loans, and jumbo loans to GSEs, banks, insurance companies, asset managers, and mortgage real estate investment trusts. It offers real estate agent services, title insurance and settlement services, and homeowners insurance services. It also offers home equity lines of credit and closed-end second-lien loans. The company formerly known as Better Mortgage Corporation and changed its name to Better Home & Finance Holding Company in August 2023. Better Home & Finance Holding Company is headquartered in New York, New York.
1 World Trade Center, New York, NY, United States, 10007
| Name | Title | Year Born |
|---|---|---|
| Mr. Vishal Garg | Co-Founder, CEO & Director | 1978 |
| Mr. Kevin J. Ryan | CFO & President | 1971 |
| Mr. Nicholas J, Calamari J.D. | Chief Administrative Officer & Senior Counsel | 1979 |
| William E. Fischer III | Chief Accounting Officer | NA |
| Ms. Paula A. Tuffin | General Counsel, Chief Compliance Officer & Secretary | 1963 |
| Mr. Stephen M. Riddell | Head of Sales | 1956 |
| Mr. Sushil Sharma | Chief Growth Officer | 1977 |
| Mr. Ryan Jewison | Head of Cover | NA |
| Nick Taylor | Head of Real Estate | NA |
| Mr. Josh Durodola | Head of Services | NA |
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