Rithm Capital Corp.
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
RITM$9.27-1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
RITHM CAPITAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(dollars in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Operating Activities | ||
| Net income | $627,514 | $649,585 |
| Adjustments to reconcile net income to net cash flows from operating activities: | ||
| Change in fair value of investments, net | (81,668) | 224,111 |
| Change in fair value of secured notes and bonds payable | 26,053 | 6,714 |
| Gain on settlement of investments, net | (19,871) | (277,938) |
| Gain on sale of originated residential mortgage loans, held-for-sale, net | (525,795) | (480,894) |
| (Gain) loss on transfer of loans to real estate owned (“REO”) | (707) | (1,054) |
| Accretion and other amortization | (39,999) | (62,331) |
| Reversal of credit losses on securities, loans and REO | (4,026) | (3,509) |
| Non-cash portions of servicing revenue, net | 789,991 | 555,236 |
| Deferred tax provision | (51,265) | 57,232 |
| Mortgage loans originated and purchased for sale, net of fees | (46,948,096) | (42,579,305) |
| Sales proceeds and loan repayment proceeds for residential mortgage loans, held-for-sale | 44,240,046 | 41,042,180 |
| Sales proceeds and loan repayment proceeds of consolidated entities | 750,822 | 308,816 |
| Interest received from servicer advance investments, RMBS, loans and other | 36,264 | 37,942 |
| Interest received from reverse repurchase agreements | — | 52,319 |
| Loan originations and investment purchases of consolidated entities | (531,002) | (30,017) |
| Changes in: | ||
| Servicer advances receivable | 513,220 | 262,689 |
| Other assets | 57,545 | (42,354) |
| Accrued expenses and other liabilities | (16,496) | (151,265) |
| Net cash used in operating activities | (1,177,470) | (431,843) |
RITHM CAPITAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED), CONTINUED
(dollars in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Investing Activities | ||
| Business acquisitions, net of cash acquired | — | (603,778) |
| Purchase of servicer advance investments | (520,334) | (590,261) |
| Purchase of Excess MSRs | — | (122,887) |
| Purchase of government-backed and other securities | (1,974,571) | (1,263,422) |
| Proceeds from sale of government-backed and other securities | 1,291 | 2,583,782 |
| Purchase of Treasury securities | (74,222) | (12,336,258) |
| Treasury sales and Treasury securities payable | 3,269,180 | 7,238,851 |
| Reverse repurchase agreements entered and repurchase agreements closed | (507,863) | (1,747,581) |
| Reverse repurchase agreements closed and repurchase agreements entered | 503,863 | 3,527,806 |
| Maturity of Treasury securities | 75,000 | 50,000 |
| Purchase of SFR properties, MSRs and other assets | (263,218) | (402,325) |
| Purchase of residential transition loans | (3,434) | — |
| Origination of residential transition loans | (2,995,193) | (1,986,291) |
| Purchase of consumer loans | (220,962) | — |
| Draws on revolving consumer loans | (16,820) | (15,996) |
| Net settlement of derivatives and hedges | 112,461 | 364,598 |
| Return of investments in Excess MSRs | 31,455 | 30,825 |
| Return of investments in equity method investees | 3,343 | 27,532 |
| Principal repayments from servicer advance investments | 557,931 | 614,504 |
| Principal repayments from government, government-backed and other securities | 583,533 | 580,385 |
| Principal repayments from residential mortgage loans | 31,996 | 34,728 |
| Principal repayments from consumer loans | 315,250 | 432,742 |
| Principal repayments and sales proceeds of residential transition loans | 1,475,251 | 1,146,123 |
| Principal repayments and sales proceeds of investments of consolidated entities | 814,039 | 332,694 |
| Loan originations and investment purchases of consolidated entities | — | (4,766) |
| Settlement of sale of MSRs and MSR financing receivables | 116 | (2,748) |
| Proceeds from sale of REO | 24,268 | 24,214 |
| Net cash provided by (used in) investing activities | 1,222,360 | (2,087,529) |
RITHM CAPITAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED), CONTINUED
(dollars in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows From Financing Activities | ||
| Repayments of secured financing agreements | (43,614,956) | (59,703,853) |
| Repayments of warehouse credit facilities including those related to the initial consolidation of CLOs | (56,363,065) | (45,795,817) |
| Repayment of unsecured notes | (291,476) | (275,000) |
| Net settlement of margin deposits under repurchase agreements and derivatives | 245,536 | (315,327) |
| Repayments of secured notes and bonds payable | (5,131,021) | (4,522,883) |
| Deferred financing fees | (16,838) | (10,924) |
| Dividends paid on common and preferred stock | (476,770) | (432,124) |
| Borrowings under secured financing agreements | 41,778,417 | 61,424,725 |
| Borrowings under warehouse credit facilities | 57,930,466 | 46,863,558 |
| Borrowings under residential transition loans financing | 88,422 | — |
| Borrowings under notes receivable financing | — | 364,977 |
| Borrowings under secured notes and bonds payable | 4,376,797 | 3,362,481 |
| Proceeds from issuance of unsecured senior notes | 495,000 | 767,103 |
| Proceeds from issuance of debt obligations of consolidated entities | 703,042 | 1,295,710 |
| Repayments of debt obligations of consolidated entities | (276,743) | (598,906) |
| Issuance of common stock | 398,077 | 409,450 |
| Issuance of preferred stock | 184,015 | — |
| Repurchase of preferred stock | (50,000) | — |
| Net proceeds from issuance of Class A Units of SPAC | 230,000 | — |
| Contributions from noncontrolling and redeemable noncontrolling interests | 84,538 | 38,211 |
| Distributions to noncontrolling and redeemable noncontrolling interests | (10,366) | (19,650) |
| Purchase of noncontrolling interest | — | (26,042) |
| Net cash provided by financing activities | 283,075 | 2,825,689 |
| Net Increase in Cash, Cash Equivalents and Restricted Cash | 327,965 | 306,317 |
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period | 1,917,809 | 1,697,095 |
| Cash, Cash Equivalents and Restricted Cash, End of Period | $2,245,774 | $2,003,412 |
| Supplemental Disclosure of Cash Flow Information | ||
| Cash paid during the period for interest | $1,319,811 | $1,364,449 |
| Cash paid during the period for income taxes | 22,743 | 9,573 |
| Supplemental Schedule of Non-Cash Investing and Financing Activities | ||
| Dividends declared but not paid on common and preferred stock | 169,565 | 154,652 |
| Transfer from residential mortgage loans to REO and other assets | 23,384 | 6,327 |
| Real estate securities retained from loan securitizations | 59,054 | 37,470 |
| Residential mortgage loans subject to repurchase | 2,700,353 | 2,409,992 |
| Purchase of Agency RMBS, settled after quarter-end | 535,039 | — |
| Liabilities related to deconsolidated CFEs | — | 352,900 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.