BETR Financial Services

Better Home & Finance Holding Company

$19.03-9.40%

Price as of close on Nov 3, 2026 · Financials updated Nov 3, 2026

Basics

Sector: Financial Services
Industry: Mortgage Finance
Country: United States
Market cap: 361.9M USD
Full-time employees: 1,329

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
About average: growth

Ranks #743 of 791 banks & insurance companies (bottom 7%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 217% from December 2022 to June 2026.
Better Home & Finance had 217% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Better Home & Finance had 217% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Much more borrowing than peers. Debt is 11.4× equity vs a peer median of 0.4×.Debt is 11.4× equity vs peers 0.4×.
Debt is 11.4× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 11.4× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Stock-based pay is a large cost. Stock pay was 12% of revenue in 2025.
Better Home & Finance paid employees $20M in stock in 2025, 12% of its $165M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -72%).

StockQuotient Score

20/ 100

Oct 5 20 → Nov 4 20

Valuation

Is the price right?

0/100

Weak

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ P/B
▼ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield16.2%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile40% base weight · Z-score -2.06Sector median: 0.7950 · MAD: 0.2843

Earnings yield-50.2%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price60% base weight · Z-score -3.12Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield-43.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share priceInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

59/100

Moderate

1/1 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 6.6%

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed100% base weight · Z-score 0.34Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth-19.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth50.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

0/100

Weak

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROE

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets-11.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile50% base weight · Z-score -2.09Sector median: 0.0117 · MAD: 0.0062

Return on equity-310.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile50% base weight · Z-score -2.86Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating margin-72.2%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Better Home & Finance

Is Better Home & Finance getting weaker?: Its latest SEC filing (Aug 11, 2026) showed no major changes. Its overall score is unchanged at 20/100 since Oct 28, 2026.
How is Better Home & Finance valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 0/100 against 950 banks & insurance peers. Book yield 16.2% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 16.2% vs peers 79.5% (weaker than 100% of peers).
Is Better Home & Finance growing?: At about the same pace as its peers. Growth scores 59/100 against 950 banks & insurance peers.
How profitable is Better Home & Finance?: Less profitable than most of its peers. Profitability scores 0/100 against 950 banks & insurance peers. Return on assets -11.7% vs a peer median of 1.2% (weaker than 100% of peers).Return on assets -11.7% vs peers 1.2% (weaker than 100% of peers).
How risky is Better Home & Finance?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 11, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: Better Home & Finance is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	181.0M USD	193.1M USD	+6.6%
Net income (12 months)	−185.6M USD	−179.9M USD	−3.1%
Free cash flow (12 months)	−235.9M USD	−156.2M USD	−33.8%
Cash	64.3M USD	102.3M USD	+59.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Banks & Insurance · 209 companies

Valuations in Banks & Insurance are within their usual range since 2016.

55% of months since 2016 were valued lower than now.
27% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +25% and earnings +33% (medians): prices and earnings moved broadly together.
Median price-to-book is −57% vs the whole market, against a usual −57%.

2016Shaded: most expensive fifth of its range2026

Shown for Banks & Insurance: too few Mortgage Finance companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	—	-227.2%	-402.6%	—	—	—
Net margin	—	-232.0%	-741.5%	-190.2%	-100.6%	▲ 90 pts
Return on assets (ROA)	-2.3%	-81.0%	-59.2%	-22.6%	-11.0%	▲ 12 pts
Return on equity (ROE)	-2.7%	—	-437.5%	—	-446.1%	—
Interest coverage	—	-50.35×	-24.94×	—	—	—

BETR price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

About average: growth

Ranks #743 of 791 banks & insurance companies (bottom 7%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 217% from December 2022 to June 2026.

Better Home & Finance had 217% more shares at June 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Better Home & Finance had 217% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Much more borrowing than peers. Debt is 11.4× equity vs a peer median of 0.4×.Debt is 11.4× equity vs peers 0.4×.

Debt is 11.4× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 11.4× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Stock-based pay is a large cost. Stock pay was 12% of revenue in 2025.

Better Home & Finance paid employees $20M in stock in 2025, 12% of its $165M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -72%).

Questions investors ask about Better Home & Finance

Is Better Home & Finance getting weaker?

Its latest SEC filing (Aug 11, 2026) showed no major changes. Its overall score is unchanged at 20/100 since Oct 28, 2026.

How is Better Home & Finance valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 0/100 against 950 banks & insurance peers. Book yield 16.2% vs a peer median of 79.5% (weaker than 100% of peers).Book yield 16.2% vs peers 79.5% (weaker than 100% of peers).

Is Better Home & Finance growing?

At about the same pace as its peers. Growth scores 59/100 against 950 banks & insurance peers.

How profitable is Better Home & Finance?

Less profitable than most of its peers. Profitability scores 0/100 against 950 banks & insurance peers. Return on assets -11.7% vs a peer median of 1.2% (weaker than 100% of peers).Return on assets -11.7% vs peers 1.2% (weaker than 100% of peers).

How risky is Better Home & Finance?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

181.0M USD

193.1M USD

+6.6%

Net income (12 months)

−185.6M USD

−179.9M USD

−3.1%

Free cash flow (12 months)

−235.9M USD

−156.2M USD

−33.8%

Cash

64.3M USD

102.3M USD

+59.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

—

-227.2%

-402.6%

—

Net margin

—

-232.0%

-741.5%

-190.2%

-100.6%

▲ 90 pts

Return on assets (ROA)

-2.3%

-81.0%

-59.2%

-22.6%

-11.0%

▲ 12 pts

Return on equity (ROE)

-2.7%

—

-437.5%

—

-446.1%

—

Interest coverage

—

-50.35×

-24.94×

—