Financial Services · Financial - Mortgages
Price
$25.67
Market Cap
$402.2M
Employees
1,250
Beta
1.71
Avg Volume
512,125
CEO
Vishal Garg
Business Description
Better Home & Finance Holding Company operates as a U.S.-based enterprise dedicated to various facets of homeownership. The company provides a comprehensive suite of mortgage products, including Government-Sponsored Enterprise (GSE) conforming loans, FHA-insured loans, VA-guaranteed loans, and jumbo loans. These lending solutions are offered to a diverse client base that encompasses GSEs, banks, insurance providers, asset managers, and mortgage real estate investment trusts. Additionally, its service portfolio extends to real estate agency, title insurance, settlement coordination, and homeowners' insurance. Formerly known as Better Mortgage Corporation, the company officially rebranded to Better Home & Finance Holding Company in August 2023. Its corporate headquarters are located in New York, New York.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-2.37
Stock Price: $25.67
EPS (Diluted): -10.82
EPS (Diluted): -10.82
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
13.44
Stock Price: $25.67
Total Equity: $37.18M
Shares: 15,335,000
Total Equity: $37.18M
Shares: 15,335,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-9.42
Market Cap: $402.23M
Total Debt: $610.66M
Cash: $116.62M
EBITDA: -$108.91M
Total Debt: $610.66M
Cash: $116.62M
EBITDA: -$108.91M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$998.3M
Market Cap: $402.23M
Total Debt: $610.66M
Cash: $116.62M
Total Debt: $610.66M
Cash: $116.62M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
2.61
Stock Price: $25.67
Revenue: $191.37M
Shares: 15,335,000
Revenue: $191.37M
Shares: 15,335,000
EV/Sales (Total value vs revenue — works when P/E can't)
API5.22
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
77.7%
Gross Profit: $148.73M
Revenue: $191.37M
Revenue: $191.37M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-64.3%
Operating Income: -$122.98M
Revenue: $191.37M
Revenue: $191.37M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-86.7%
Net Income: -$165.87M
Revenue: $191.37M
Revenue: $191.37M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-428.3%
Net Income: -$165.87M
Total Equity: $37.18M
Total Equity: $37.18M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-7.9%
Operating Income: -$122.98M
Tax Rate: 0.0%
Equity: $37.18M
Total Debt: $610.66M
Cash: $116.62M
Tax Rate: 0.0%
Equity: $37.18M
Total Debt: $610.66M
Cash: $116.62M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.58
Current Assets: $241.27M
Current Liabilities: $416.49M
Current Liabilities: $416.49M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
16.42
Short-Term Debt: $411.86M
Long-Term Debt: $198.80M
Total Debt: $610.66M
Total Equity: $37.18M
Long-Term Debt: $198.80M
Total Debt: $610.66M
Total Equity: $37.18M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$12.48
Revenue: $191.37M
Shares: 15,335,000
Shares: 15,335,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$2.42
Total Equity: $37.18M
Shares: 15,335,000
Shares: 15,335,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-15.22
Operating CF: -$232.15M
CapEx: -$1.19M
Shares: 15,335,000
CapEx: -$1.19M
Shares: 15,335,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $25.67
Stock Price: $25.67
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$165.87M
Net Income: -$165.87M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares BETR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 11:09am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.3B | $395.1M | $88.5M | $120.1M | $191.4M |
| Cost of Revenue | $969.3M | $693.6M | $149.8M | $162.6M | $42.6M |
| Gross Profit | $342.3M | -$298.5M | -$61.3M | -$42.5M | $148.7M |
| Operating Expenses | $582.0M | $560.4M | $230.0M | $145.5M | $271.7M |
| Operating Income | -$239.7M | -$858.9M | -$291.3M | -$188.0M | -$123.0M |
| Net Income | -$301.1M | -$877.1M | -$536.4M | -$206.3M | -$165.9M |
| EBITDA | -$175.3M | -$523.4M | -$459.9M | -$154.8M | -$108.9M |
| EPS | $-0.41 | $-1.21 | $-1.16 | $-13.65 | $-10.82 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 11:09am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $938.3M | $318.0M | $503.6M | $211.1M | $116.6M |
| Total Current Assets | $3.1B | $694.2M | $792.1M | $861.9M | $241.3M |
| Total Assets | $3.3B | $1.1B | $905.6M | $913.1M | $1.5B |
| Current Liabilities | $2.3B | $264.7M | $208.3M | $435.6M | $416.5M |
| Long-Term Debt | $626.4M | $894.4M | $514.6M | $519.7M | $198.8M |
| Total Liabilities | $2.6B | $1.3B | $783.0M | $971.2M | $1.5B |
| Total Equity | $676.4M | -$167.9M | $122.6M | -$58.2M | $37.2M |
| Retained Earnings | -$292.6M | -$1.2B | -$1.7B | -$1.9B | -$2.1B |
Cash Flow (Annual)
Last updated: Jun 24, 2026 11:09am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $361.2M | $938.2M | -$159.7M | -$380.0M | -$232.2M |
| Capital Expenditure | -$68.6M | -$35.3M | -$9.8M | -$10.1M | -$1.2M |
| Free Cash Flow | $292.6M | $902.9M | -$169.5M | -$390.1M | -$233.3M |
| Acquisitions (net) | -$5.1M | -$3.8M | -$11.9M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$5.6M | -$7.9M | $0 | $0 | $0 |
| Net Change in Cash | $597.1M | -$632.8M | $182.0M | -$292.5M | -$118.9M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 3:14am (5h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$161.3M $159.3M – $163.2M
|
$229.7M $224.1M – $240.1M
|
$339.0M $297.1M – $381.0M
|
$413.6M $413.6M – $413.6M
|
| EBITDA |
-$119.4M -$120.9M – -$118.0M
|
-$170.1M -$177.8M – -$166.0M
|
-$251.1M -$282.1M – -$220.0M
|
-$306.3M -$306.3M – -$306.3M
|
| Net Income |
-$145.3M -$167.4M – -$123.2M
|
-$96.5M -$111.2M – -$81.8M
|
$3.8M $3.2M – $4.3M
|
$19.4M $16.5M – $22.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 11:09am (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -69.9% | -77.6% | +35.7% | +59.4% |
| Gross Profit Growth | -187.2% | +79.5% | +30.6% | +449.8% |
| Operating Income Growth | -258.4% | +66.1% | +35.5% | +34.6% |
| Net Income Growth | -191.3% | +38.8% | +61.5% | +19.6% |
| EBITDA Growth | -198.5% | +12.1% | +66.3% | +29.6% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 3:14am (5h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-09 | Talwar Harit | M-Exempt | 20,191.00 | $0.00 | $0 |
| 2026-06-09 | Talwar Harit | M-Exempt | 20,191.00 | $0.00 | $0 |
| 2026-06-09 | Farello Michael J. | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-09 | Farello Michael J. | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-09 | Barse David Michael | M-Exempt | 10,389.00 | $0.00 | $0 |
| 2026-06-09 | Barse David Michael | M-Exempt | 10,389.00 | $0.00 | $0 |
| 2026-06-09 | MENON BHASKAR | M-Exempt | 12,388.00 | $0.00 | $0 |
| 2026-06-09 | MENON BHASKAR | M-Exempt | 12,388.00 | $0.00 | $0 |
| 2026-06-09 | Narasimhan Prabhu | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-09 | Narasimhan Prabhu | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-09 | Massenet Arnaud | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-09 | Massenet Arnaud | M-Exempt | 11,327.00 | $0.00 | $0 |
| 2026-06-11 | FRATER HUGH R | P-Purchase | 5,150.00 | $24.34 | $125,351 |
| 2026-06-09 | FRATER HUGH R | M-Exempt | 1,176.00 | $0.00 | $0 |
| 2026-06-09 | FRATER HUGH R | M-Exempt | 1,176.00 | $0.00 | $0 |
| 2026-05-01 | Talwar Harit | M-Exempt | 3,094.00 | $0.00 | $0 |
| 2026-05-01 | Talwar Harit | A-Award | 3,094.00 | $0.00 | $0 |
| 2026-05-22 | Talwar Harit | P-Purchase | 5,000.00 | $25.34 | $126,696 |
| 2026-05-21 | Garg Vishal | P-Purchase | 15,600.00 | $24.89 | $388,328 |
| 2026-05-20 | Garg Vishal | P-Purchase | 15,000.00 | $25.00 | $375,000 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for BETR — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30