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FOA

Finance Of America Companies Inc.

FOA

Finance Of America Companies Inc. • NYSE
$23.96 ▼ -0.04% (-0.01)
Market Cap $240.82 M
52w High $32.40
52w Low $16.58
Dividend Yield 0%
P/E -23.26
Volume 38.37K
Outstanding Shares 10.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $0 ▼ $0 ▼ 0% ▼ $-1.05 ▼ $0 ▼
Q2-2025 $597.948M ▲ $78.434M ▲ $34.923M ▲ 5.84% ▲ $3.16 ▲ $91.609M ▲
Q1-2025 $571.703M ▲ $64.931M ▲ $30.209M ▲ 5.284% ▲ $2.97 ▲ $91.351M ▲
Q4-2024 $289.041M ▼ $17.501M ▼ $-59.088M ▼ -20.443% ▼ $-12.24 ▼ $-136.07M ▼
Q3-2024 $712.202M $67.182M $84.203M 11.823% $8.48 $217.95M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $402.386M ▲ $30.657B ▲ $30.291B ▲ $283.188M ▼
Q2-2025 $46.476M ▼ $30.147B ▲ $29.674B ▲ $325.261M ▲
Q1-2025 $52.016M ▲ $29.689B ▲ $29.294B ▲ $292.074M ▲
Q4-2024 $47.383M ▲ $29.156B ▲ $28.841B ▲ $255.299M ▼
Q3-2024 $44.258M $28.95B $28.494B $312.944M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $36.143M ▼ $-149.748M ▼ $263.632M ▲ $51.85M ▲ $165.734M ▲ $-149.748M ▼
Q2-2025 $79.823M ▲ $-96.473M ▼ $137.997M ▲ $-56.726M ▼ $-15.2M ▲ $-96.473M ▼
Q1-2025 $75M ▲ $-92.082M ▲ $45.475M ▲ $-3.5M ▼ $-50.116M ▼ $-92.082M ▲
Q4-2024 $-142.629M ▼ $-106.205M ▼ $-30.796M ▲ $218.657M ▲ $81.605M ▲ $-106.205M ▼
Q3-2024 $84.203M $-81.369M $-54.66M $109.708M $-26.25M $-81.369M

Revenue by Products

Product Q1-2022Q2-2022Q3-2022Q4-2022
Lender Services
Lender Services
 $80.00M ▲$60.00M ▼$40.00M ▼$40.00M ▲
Mortgage Originations
Mortgage Originations
 $140.00M ▲$100.00M ▼$60.00M ▼$0 ▼
Portfolio Management
Portfolio Management
 $-50.00M ▲$-90.00M ▼$-100.00M ▼$30.00M ▲
Reverse Of Mortage Originations
Reverse Of Mortage Originations
 $110.00M ▲$80.00M ▼$70.00M ▼$30.00M ▼
Commercial Orginations
Commercial Orginations
 $20.00M ▲$10.00M ▼$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement FOA’s income statement shows a company that has gone through a painful reset and is now just returning to modest profitability. Revenue shrank sharply from earlier years and is still far from past peaks, but margins have improved as management narrowed the business around home equity and reverse mortgages. After several years of operating and net losses, the most recent year shows a small operating and bottom‑line profit, suggesting the new, more focused model is gaining traction. That said, the profit level is still fragile, and the history of swings in earnings and extremely volatile per‑share results underline that performance has not yet been consistently stable.

Balance Sheet

Balance Sheet The balance sheet is highly leveraged, with most assets funded by debt and only a thin layer of equity. Book equity has trended down over time and remains very small relative to the size of the balance sheet, which leaves little cushion against shocks. Cash on hand is limited, so FOA depends heavily on its funding lines and capital markets access to run the business. Asset levels have crept up again recently alongside debt, which may support growth but also keeps financial risk elevated. The reverse stock split points to past pressure on the share price and a need to shore up market optics rather than underlying capital strength.

Cash Flow

Cash Flow Cash flow has been uneven and is a key area of risk. Operating cash flow has been negative in most recent years, with only a single standout year of strong inflows in the last five, and free cash flow follows the same pattern because capital spending is minimal. This means the business often consumes cash rather than generates it, making FOA reliant on external funding, asset sales, or securitizations to support operations and growth. Any disruption in funding markets or slowdown in loan originations could quickly stress liquidity, so consistent, positive cash generation remains an important unproven milestone.

Competitive Edge

Competitive Edge FOA’s competitive position is built around specialization rather than breadth. It has carved out a leading role in reverse mortgages and broader home‑equity solutions, backed by the acquisition of American Advisors Group and strong brand recognition among older homeowners. This focus gives FOA deep product expertise, a reputation advantage in a complex niche, and multiple distribution channels through partners and advisors. At the same time, concentration in a single segment exposes the company to changes in regulation, rates, housing prices, and public perception of reverse mortgages. FOA’s ability to keep educating the market, maintain trust, and defend share against traditional lenders moving into home equity will be central to its long‑term position.

Innovation and R&D

Innovation and R&D FOA is leaning heavily on technology rather than traditional, lab‑style R&D. It is investing in digital platforms, automation, and AI‑driven underwriting to make home‑equity products faster and easier to access, both for consumers and for contractor and lender partners. The Benji platform and the Tinman AI partnership with Better.com are examples of FOA trying to turn its reverse‑mortgage specialty into a broader, digital home‑equity ecosystem. Recent senior hires focused on technology and customer experience reinforce that this is a strategic priority. The upside is a more scalable, lower‑cost, and more user‑friendly business; the risk is execution—integrating these tools, winning adoption, and keeping them differentiated in a crowded fintech landscape.

Summary

FOA today looks like a specialist lender that has survived a tough restructuring period and is cautiously emerging with a clearer focus but still‑delicate finances. The business model around reverse mortgages and home equity is differentiated and supported by technology investments and strategic partnerships, which together form the core of its competitive story. Financially, profitability has just turned positive again, but leverage is high, cash generation has been inconsistent, and the capital base is thin, leaving little room for major missteps. The key things to watch are: consistency of earnings as the focused strategy matures, the stability of funding and liquidity, the market’s response to new AI‑driven products, and how well FOA manages the regulatory and reputation risks that come with specializing in reverse mortgages and home‑equity lending.

NEWS

November 18, 2025 · 4:15 PM UTC

Finance of America to Acquire Reverse Mortgage Assets from Onity Group Subsidiary PHH Mortgage

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November 4, 2025 · 4:05 PM UTC

Finance of America Reports Third Quarter 2025 Results

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October 21, 2025 · 4:05 PM UTC

Finance of America Announces Third Quarter Earnings Release and Conference Call on November 4, 2025

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