Rocket Companies Inc (RKT) is overvalued and Walker & Dunlop Inc (WD) is undervalued.
Against our estimates of intrinsic value, WD trades at the wider discount: a margin of safety of +71%, against -261% for RKT.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 12.3% (average of 2 methods) values the shares at $3.53; the price of $12.74 is 261% above that value, and 62% of that value comes from beyond year five.
Leak Score 15/100 on 5 of 12 signals
Discounting its cash flows at 7.5% (average of 3 methods) values the shares at $133.53; the price of $38.32 is 71% below that value, and 81% of that value comes from beyond year five.
Leak Score 55/100 on 7 of 12 signals
| Metric | RKT | WD |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $12.74 | $38.32 |
| Intrinsic value | $3.53 | $133.53 |
| Margin of safety | -261% | +71% |
| Leak Score | 15/100 (5/12) | 55/100 (7/12) |
| Market cap | $36.1B | $1.3B |
| Revenue growth, 5 years | -14.6% | 3.2% |
| Operating margin | 24.4% | 15.2% |
| Net margin | 4.9% | 3.0% |
| Return on equity | 3.0% | 2.2% |
| Debt to equity | 1.41 | 1.39 |
| P/E | 84.8x | 34.2x |
| Forward P/E | 14.8x | 7.0x |
| P/B | 1.5x | 0.8x |
| Dividend yield | — | 7.1% |