FIGR vs RKT: Which Is the Better Buy in 2026?
Last updated August 2026
Short answer
FIGR and RKT are similarly sized, but RKT trades noticeably cheaper on forward earnings (13.50x vs 17.67x): the market is paying up for FIGR's profile and pricing RKT more conservatively, or for faster growth. Which you prefer comes down to the drivers you believe, and whether adding either over-concentrates what you already own.
FIGR vs RKT: the tie-breaker metrics
Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | FIGR | RKT | What it tells you |
|---|---|---|---|
| Forward P/E | 17.67 | 13.50 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Price vs 52-week range | 1% of range | 6% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 4.23 | 1.57 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: RKT is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how FIGR and RKT affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. FIGR and RKT share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined FIGR and RKT exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Figure Technology Solutions (FIGR) do?
Figure Technology Solutions, Inc. (Nasdaq: FIGR) is a financial technology company co-founded by SoFi founder Mike Cagney that originates and distributes consumer and mortgage-related loans, with home equity lines of credit (HELOCs) as its core product. Figure pairs a technology-driven loan origination system (which promises approvals in minutes and funding in days) with Figure Connect, an electronic marketplace launched in June 2024 that lets originators sell loans to buyers, and it uses blockchain-based infrastructure such as its Digital Asset Registry Technology (DART) to track and transfer loans. The company has grown into the largest non-bank provider of home equity financing in the country, facilitating more than $17 billion in home equity lending, and it expanded into residential real estate lending through its acquisition of Kiavi.
What does Rocket Companies (RKT) do?
Rocket Companies is a Detroit-based fintech holding company whose businesses span the homeownership lifecycle: Rocket Mortgage (home-loan origination), Redfin (home search and brokerage, acquired in 2025), Mr. Cooper (mortgage servicing, acquired in 2025), plus Rocket Homes, Rocket Close (title and settlement), Rocket Money (personal finance) and Rocket Loans. It makes money in three main ways. Origination earns gain-on-sale revenue when it makes a mortgage and sells it into the secondary market (Rocket reported roughly $130.4 billion in closed originations and a 2.83 percent gain-on-sale margin in 2025). Servicing earns recurring fee income for collecting payments and administering loans across a portfolio that, combined with Mr. Cooper, reached roughly $2.1 trillion in unpaid principal balance, and crucially feeds origination by letting Rocket recapture refinancings from clients it already services. Real estate and adjacent services (Redfin brokerage, title, personal finance) add lead generation and ancillary fees.
FIGR vs RKT: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- FIGR drivers: HELOC origination scale and market leadership; Figure Connect marketplace and capital-markets flywheel.
- RKT drivers: An integrated home-search-to-servicing platform; Servicing scale and recapture.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Figure carries elevated, above-average risk for a recently public company. For RKT, rocket's results are tightly tied to mortgage rates and housing activity, and it posted a GAAP net loss of roughly $234 million for full-year 2025 despite positive adjusted earnings, illustrating how cyclical and rate-dependent the business is.
FIGR or RKT: which should you pick?
FIGR vs RKT: the full fundamentals
FIGR. As of July 2026, Figure trades at a high trailing earnings multiple (around 54 times earnings), which reflects investor expectations of continued rapid growth rather than a value valuation. Revenue and net income have grown quickly since the September 2025 IPO, but the shares have been highly volatile, falling from roughly $78 in January 2026 to the low $30s amid a short-seller report and a data breach. Figures are approximate and change with each earnings release and with the stock price.
RKT. Rocket is a rate-cyclical business, so its headline numbers swing widely with mortgage rates and housing volume, and standard equity multiples can be misleading. Full-year 2025 produced a GAAP net loss even as adjusted net income was positive, a common pattern for mortgage originators where gain-on-sale revenue, mortgage-servicing-right valuation changes, and acquisition charges create large non-cash and non-recurring swings. Because of this, investors often watch origination volume, gain-on-sale margin, recapture rate, and servicing-book size more closely than a trailing P/E. The 2025 acquisitions of Redfin and Mr. Cooper also make year-over-year comparisons noisy, since the larger combined platform was only partially reflected in 2025 results. All figures are approximate and tied to the asOf date.
Headline figures (approximate, July 2026): FIGR shows revenue (ttm) ~$510 million (up ~74%), net income (ttm) ~$108 million, full-year 2024 revenue ~$293 million, p/e ratio (trailing) ~54 (forward ~30); RKT shows total revenue, net (fy 2025) ~$6.7 billion, adjusted revenue (fy 2025) ~$6.9 billion, gaap net income / (loss) (fy 2025) ~$(234) million net loss, adjusted net income (fy 2025) ~$628 million (~$0.28 adjusted EPS).
The bottom line: FIGR vs RKT
FIGR and RKT are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined FIGR and RKT exposure against your real portfolio. It is not an investment adviser.
Wondering how FIGR or RKT fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Figure Technology Solutions with AI
Connect the broker you already use and ask Walnut's AI how FIGR fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between FIGR and RKT?
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Figure Technology Solutions, Inc. Rocket Companies is a Detroit-based fintech holding company whose businesses span the homeownership lifecycle: Rocket Mortgage (home-loan origination), Redfin (home search and brokerage, acquired in 2025), Mr. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is FIGR or RKT the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, FIGR or RKT?
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On forward P/E (as of August 2026), FIGR trades at 17.67x and RKT at 13.50x, so RKT is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both FIGR and RKT?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of FIGR vs RKT?
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FIGR: Figure carries elevated, above-average risk for a recently public company. In April 2026, short-seller Morpheus Research published a report arguing that Figure overstates how central blockchain is to its operations and that several of its crypto-native products have stalled, and it disclosed a short position; Figure disputed the report, but the controversy has weighed on the stock and remains unresolved. In February 2026 the company confirmed a data breach exposing sensitive personal and financial information of nearly one million people, which has drawn consumer class-action litigation and reputational risk. The business is economically cyclical and rate-sensitive, because HELOC demand, loan pricing, and marketplace activity all depend on interest rates, home prices, and consumer credit conditions, so a housing downturn or rising defaults would pressure origination volume and credit losses. The stock trades at a high earnings multiple and has been extremely volatile (falling from roughly $78 in January 2026 to the low $30s), meaning the price already assumes strong future growth and can move sharply on sentiment. Finally, as a young public company with a founder-led governance structure and concentrated insider ownership, execution and key-person risk around co-founder Mike Cagney are meaningful. RKT: Rocket's results are tightly tied to mortgage rates and housing activity, and it posted a GAAP net loss of roughly $234 million for full-year 2025 despite positive adjusted earnings, illustrating how cyclical and rate-dependent the business is. The two large all-stock acquisitions add integration risk, including consolidating systems, culture, and a vast servicing operation, and dilute existing shareholders through newly issued shares (Rocket also disclosed a large convertible-share overhang tied to founder holdings). As a controlled company, Dan Gilbert and his holding entity retain roughly 76 percent of the economics and capped voting power up to 79 percent, so public holders have limited governance influence. Mortgage origination is also intensely competitive and exposed to regulatory and interest-rate policy shifts.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell FIGR or RKT; figures are approximate and dated (as of August 2026). Verify current data before investing.