Origination & Servicing was Rithm Capital’s largest segment in fiscal 2025, bringing in $18.36B of $21.20B (87%).
| Segment | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Origination & Servicing | $14.65B | $14.87B | $15.95B | $18.36B | ||||
| Origination | — | — | — | — | ||||
| Servicing & Origination | — | — | — | — | ||||
| Residential Securities, Properties & Loans | — | — | — | — | ||||
| Residential Securities & Loans | — | — | — | — | ||||
| Investment Portfolio | $2.22B | $2.58B | $849.45M | $2.40B | ||||
| Residential Transitional Lending | $1.16B | $1.65B | $2.06B | — | ||||
| Consumer Loans | — | — | — | — | ||||
| Asset Management | — | $30.30M | $170.30M | $357.30M | ||||
| Mortgage Loans Receivable | — | — | — | — | ||||
| Corporate Category | $2.22M | — | $56.00K | $83.97M | ||||
| Corporate | — | — | — | — | ||||
| Msr Related Investments | — | — | — | — | ||||
| Total | $18.03B | $19.13B | $19.03B | $21.20B |
Rithm Capital brought in $21.20B from its four segments in fiscal 2025, the year ended December 31, 2025. Rithm Capital regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $19.03B. Origination & Servicing was the largest at $18.36B (86.6%), ahead of Investment Portfolio at $2.40B (11.3%) and Asset Management at $357.30M (1.7%). The remaining segment, Corporate Category, brought in $83.97M.
Compared with fiscal 2024, Investment Portfolio grew 182.6% to $2.40B and Origination & Servicing grew 15.1% to $18.36B.
Rithm Capital began breaking out Asset Management in fiscal 2023, when it brought in $30.30M. Rithm Capital stopped reporting Residential Transitional Lending as a separate segment after fiscal 2024, when it brought in $2.06B.
Servicing Fee Revenue, Net & Interest Income From Msrs And Msr Financing Receivables was Rithm Capital’s largest product and service line in fiscal 2023, bringing in $3.76B of $6.73B (56%).
| Product and Service | FY 2022 | FY 2023 |
|---|---|---|
| Servicing Revenue, Net | $8.25B | -$1.46M |
| Servicing Fee Revenue, Net & Interest Income From Msrs And Msr Financing Receivables | $3.65B | $3.76B |
| Interest Income | $1.80B | $2.77B |
| Gain On Originated Residential Mortgage Loans, Held-For-Sale, Net | $3.70B | $874.14M |
| Change In Fair Value Of Msrs & Msr Financing Receivables (Includes Realization Of Cash Flows Of $(518,978), $(631,120) And $(1,192,646), Respectively) | $4.60B | -$1.14B |
| Other Revenues | — | $465.15M |
| Total | $22.01B | $6.73B |
Rithm Capital brought in $6.73B from its six product and service lines in fiscal 2023, the year ended March 31, 2023. Rithm Capital regrouped these lines after fiscal 2022, so the total does not compare directly with that year's $22.01B. Servicing Fee Revenue, Net & Interest Income From Msrs And Msr Financing Receivables was the largest at $3.76B (55.8%), ahead of Interest Income at $2.77B (41.2%) and Gain On Originated Residential Mortgage Loans, Held-For-Sale, Net at $874.14M (13.0%). The remaining line, Other Revenues, brought in $465.15M.
Compared with fiscal 2022, Interest Income grew fastest, up 53.8% to $2.77B, while Gain On Originated Residential Mortgage Loans, Held-For-Sale, Net fell the most, down 76.3% to $874.14M.
Rithm Capital began breaking out Other Revenues in fiscal 2023, when it brought in $465.15M. The total is net of Servicing Revenue, Net, which took $1.46M off revenue in fiscal 2023.
Subtotal was Rithm Capital’s largest revenue line in fiscal 2023, bringing in $9.16B of $9.12B (100%).
| Revision of Prior Period | FY 2021 | FY 2022 | FY 2023 | FY 2023 |
|---|---|---|---|---|
| As Reported | $30.28B | $13.83B | $10.49B | — |
| Subtotal | — | — | $10.42B | $9.16B |
| Error Adjustments | — | — | -$66.31M | -$40.03M |
| Reclassifications | — | — | -$69.33M | — |
| Total | $30.28B | $13.83B | $20.78B | $9.12B |
Rithm Capital brought in $9.12B from its two revenue lines in fiscal 2023, the year ended September 30, 2023. Rithm Capital regrouped these revenue lines after fiscal 2023, so the total does not compare directly with that year's $20.78B. Subtotal was the largest at $9.16B (100.4%).
Rithm Capital began breaking out Subtotal in fiscal 2023 and Error Adjustments in fiscal 2023. Rithm Capital stopped reporting As Reported as a separate revenue line after fiscal 2023, when it brought in $10.49B. The total is net of Error Adjustments, which took $40.03M off revenue in fiscal 2023.
Rithm Capital (RITM) reports its revenue by segment, by product and service and by revision of prior period. In fiscal 2025, Origination & Servicing was its largest segment, bringing in $18.36B (86.6% of the total), followed by Investment Portfolio at $2.40B (11.3%).
Origination & Servicing was Rithm Capital's largest segment in fiscal 2025, bringing in $18.36B, or 86.6% of the $21.20B total across its four segments.
Servicing Fee Revenue, Net & Interest Income From Msrs And Msr Financing Receivables was Rithm Capital's largest product and service line in fiscal 2023, bringing in $3.76B, or 55.8% of the $6.73B total across its six product and service lines.
Subtotal was Rithm Capital's largest revenue line in fiscal 2023, bringing in $9.16B, or 100.4% of the $9.12B total across its two revenue lines.
Every figure comes from Rithm Capital's annual financial filings, as reported. Each line keeps the name Rithm Capital gives it, and years follow its fiscal calendar.
Rithm Capital's revenue by segment goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.