PennyMac Financial Services (PFSI) Financials

$119.05 -0.65 (-0.54%)

Closing price 03:59 PM Eastern

Extended Trading

$118.85 -0.20 (-0.17%)

As of 07:20 PM Eastern

Annual Income Statements for PennyMac Financial Services

This table shows PennyMac Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	66	101	88	393	1,647	1,003	476	513	-88
Consolidated Net Income / (Loss)	337	312	244	393	1,647	825	412	145	311
Net Income / (Loss) Continuing Operations	337	182	244	393	1,647	825	412	513	-88
Total Pre-Tax Income	383	336	268	529	2,241	1,359	665	184	401
Total Revenue	935	826	985	1,477	3,705	2,988	2,253	1,757	1,168
Net Interest Income / (Expense)	-25	-1.34	72	77	-25	-91	-41	-4.85	-26
Total Interest Income	81	143	216	289	247	300	294	-4.85	-26
Investment Securities Interest Income	81	143	216	289	247	300	294	633	794
Other Interest Income	-	-	-	-	-	-	-	-638	-819
Total Interest Expense	106	145	145	212	272	391	0.00	0.00	0.00
Total Non-Interest Income	960	827	912	1,400	3,730	3,079	1,959	1,762	1,194
Trust Fees by Commissions	-300	22	-246	-584	-559	-892	-277	57	55
Other Service Charges	728	762	908	1,258	1,547	1,504	1,442	789	719
Net Realized & Unrealized Capital Gains on Investments	532	370	250	726	2,742	2,466	794	916	419
Other Non-Interest Income	0.22	-326	-0.03	0.42	-0.45	0.34	-0.24	0.00	0.20
Total Non-Interest Expense	549	620	717	948	1,465	1,808	1,651	1,205	1,166
Salaries and Employee Benefits	342	359	403	503	739	1,000	735	577	633
Net Occupancy & Equipment Expense	52	75	87	97	146	177	180	180	182
Marketing Expense	5.26	-	-	5.17	8.66	45	47	18	22
Other Operating Expenses	149	186	226	342	572	586	689	430	329
Nonoperating Income / (Expense), net	-	-	-	-	-	-	-	0.31	-0.06
Income Tax Expense	46	24	23	136	594	356	190	39	90
Basic Earnings per Share	$2.98	$4.34	$2.62	$5.02	$21.91	$15.73	$8.96	$2.89	$6.11
Weighted Average Basic Shares Outstanding	22.16M	23.20M	33.52M	78.21M	75.16M	63.80M	53.07M	49.98M	50.99M
Diluted Earnings per Share	$2.94	$4.03	$2.59	$4.89	$20.92	$14.87	$8.50	$2.74	$5.84
Weighted Average Diluted Shares Outstanding	76.63M	25.00M	35.32M	80.34M	78.73M	67.47M	55.95M	52.73M	53.36M
Weighted Average Basic & Diluted Shares Outstanding	-	-	77.53M	78.56M	69.24M	55.42M	50.03M	50.43M	51.43M
Cash Dividends to Common per Share	-	$0.00	$0.40	-	-	-	$0.80	$0.80	$1.00

This table shows PennyMac Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	135	142	30	58	93	332	39	98	69	-295	76
Consolidated Net Income / (Loss)	117	-8.01	18	53	244	-171	35	94	275	-93	71
Net Income / (Loss) Continuing Operations	117	96	18	53	244	198	35	94	275	-492	71
Total Pre-Tax Income	185	68	38	73	127	-54	44	134	94	129	104
Total Revenue	458	727	291	331	552	583	302	402	618	-154	634
Net Interest Income / (Expense)	0.03	3.29	-3.29	-5.69	9.69	-5.56	-9.34	-7.06	7.87	-17	-18
Total Interest Income	83	107	128	173	167	-473	156	201	225	-608	190
Investment Securities Interest Income	83	107	128	173	167	165	156	201	225	211	190
Total Interest Expense	83	-231	132	179	0.00	-310	166	208	0.00	-374	0.00
Total Non-Interest Income	458	389	294	337	385	745	311	409	392	81	444
Trust Fees by Commissions	-69	-245	-189	-210	-203	659	-323	-273	-386	1,037	-324
Other Service Charges	358	-188	379	405	436	-431	471	506	522	-780	547
Net Realized & Unrealized Capital Gains on Investments	169	609	105	142	152	518	163	176	257	-177	221
Other Non-Interest Income	-	-	0.03	0.12	-0.05	-0.09	0.01	-0.04	0.07	0.16	0.19
Total Non-Interest Expense	291	601	265	264	274	403	262	272	318	314	535
Salaries and Employee Benefits	158	134	148	137	157	135	146	142	171	173	182
Net Occupancy & Equipment Expense	47	45	45	45	48	42	45	44	45	49	49
Marketing Expense	7.60	3.75	3.24	5.58	4.63	4.18	3.67	5.45	5.09	7.77	9.43
Other Operating Expenses	78	419	69	76	64	222	67	81	96	84	295
Income Tax Expense	50	30	7.77	15	34	-17	4.58	36	25	25	28
Basic Earnings per Share	$2.59	$0.88	$0.61	$1.17	$1.86	($0.75)	$0.78	$1.93	$1.36	$2.04	$1.48
Weighted Average Basic Shares Outstanding	52.17M	53.07M	50.15M	49.87M	49.90M	49.98M	50.55M	50.96M	51.18M	50.99M	51.51M
Diluted Earnings per Share	$2.46	$0.82	$0.57	$1.11	$1.77	($0.71)	$0.74	$1.85	$1.30	$1.95	$1.42
Weighted Average Diluted Shares Outstanding	54.97M	55.95M	53.35M	52.26M	52.56M	52.73M	53.10M	53.20M	53.50M	53.36M	53.62M
Weighted Average Basic & Diluted Shares Outstanding	50.08M	50.03M	49.92M	49.87M	49.93M	50.43M	50.92M	51.19M	51.26M	51.43M	51.66M
Cash Dividends to Common per Share	$0.20	-	$0.20	$0.20	$0.20	-	$0.20	$0.20	$0.30	-	$0.30

This table details how cash moves in and out of PennyMac Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-5.91	-61	118	33	344	-193	988	-390	-700
Net Cash From Operating Activities	-938	-883	572	-2,245	-6,199	2,563	6,033	-1,582	-4,533
Net Cash From Continuing Operating Activities	-938	-883	573	-2,245	-6,199	2,563	6,033	-1,582	-4,533
Net Income / (Loss) Continuing Operations	337	312	244	393	1,647	1,003	476	145	311
Consolidated Net Income / (Loss)	337	312	244	393	1,647	1,003	476	145	311
Provision For Loan Losses	36	43	40	36	126	-48	-36	3.27	33
Depreciation Expense	5.85	8.40	13	15	26	29	34	53	56
Amortization Expense	311	280	-29	6.06	31	39	35	38	42
Non-Cash Adjustments to Reconcile Net Income	-1,599	-1,452	207	-2,608	-7,532	1,558	5,215	-1,833	-4,767
Changes in Operating Assets and Liabilities, net	-29	-75	98	-88	-496	-18	310	11	-210
Net Cash From Investing Activities	-35	-339	-323	149	783	-304	-722	-273	-1,888
Net Cash From Continuing Investing Activities	-35	-339	-323	149	783	-304	-722	-273	-1,888
Purchase of Property, Leasehold Improvements and Equipment	-30	-24	-31	-36	-59	-57	-79	-36	-22
Purchase of Investment Securities	-67	-209	-350	139	914	-354	-881	-242	-1,638
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	0.00	0.00	1.00	0.00
Sale and/or Maturity of Investments	-	-84	65	43	59	8.34	0.00	100	-112
Other Investing Activities, net	63	-22	-7.21	2.39	-132	98	239	-96	-116
Net Cash From Financing Activities	967	1,161	-132	2,129	5,760	-2,451	-4,323	1,465	5,721
Net Cash From Continuing Financing Activities	967	1,161	-132	2,129	5,760	-2,451	-4,323	1,465	5,721
Issuance of Debt	32,354	945	26,584	23,477	650	1,150	19,963	23,989	1,700
Repayment of Debt	-77,255	-35,475	-68,081	-85,141	-96,758	-138,769	-98,897	-107,771	-104,944
Repurchase of Common Equity	0.00	-8.60	-5.29	-1.06	-337	-958	-406	-71	0.00
Payment of Dividends	-7.63	0.00	-10	-9.71	-31	-53	-55	-41	-52
Other Financing Activities, Net	45,876	35,700	41,380	63,804	102,236	136,178	75,071	85,361	109,017
Cash Interest Paid	-	-	-	-	273	390	330	639	797
Cash Income Taxes Paid	-	-	-	-	476	293	-128	-1.17	1.49

This table details how cash moves in and out of PennyMac Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	143	-230	169	34	-355	-239	-11	-332	-450	93	-27
Net Cash From Operating Activities	-588	489	-3,265	2,228	-976	430	-898	-1,093	-394	-2,149	1,066
Net Cash From Continuing Operating Activities	-588	489	-3,265	2,228	-976	430	-898	-1,093	-394	-2,149	1,066
Net Income / (Loss) Continuing Operations	135	38	30	58	93	-37	39	98	69	104	76
Consolidated Net Income / (Loss)	135	38	30	58	93	-37	39	98	69	104	76
Provision For Loan Losses	-0.82	16	-3.08	-1.97	-2.55	11	-1.54	5.93	9.58	19	4.18
Depreciation Expense	9.43	11	13	13	13	14	14	14	14	14	14
Amortization Expense	8.47	8.67	9.76	8.71	9.77	10	11	1.80	20	10	10
Non-Cash Adjustments to Reconcile Net Income	-898	522	-3,286	2,099	-1,184	538	-831	-1,298	-512	-2,125	928
Changes in Operating Assets and Liabilities, net	158	-106	-28	51	94	-106	-130	85	6.42	-171	33
Net Cash From Investing Activities	-56	-238	-21	-166	-191	105	-783	-738	-239	-128	30
Net Cash From Continuing Investing Activities	-56	-238	-21	-166	-191	105	-783	-738	-239	-128	30
Purchase of Property, Leasehold Improvements and Equipment	-22	-14	-11	-9.11	-8.67	-7.63	-4.78	-5.20	-4.49	-7.63	-7.51
Purchase of Investment Securities	-241	-67	78	-99	-430	208	-749	-756	360	-492	75
Sale and/or Maturity of Investments	-31	29	8.84	-4.50	101	-4.72	10	3.14	-513	388	15
Other Investing Activities, net	237	-187	-97	-53	146	-92	-39	20	-81	-16	-52
Net Cash From Financing Activities	787	-482	3,455	-2,028	812	-774	1,670	1,499	183	2,370	-1,124
Net Cash From Continuing Financing Activities	787	-482	3,455	-2,028	812	-774	1,670	1,499	183	2,370	-1,124
Issuance of Debt	14,948	4,515	680	10,043	-9,843	23,109	725	11,618	6,150	-16,793	6,657
Repayment of Debt	-30,559	-21,406	-13,878	-34,659	-11,282	-47,953	-19,880	-37,834	-34,465	-12,765	-35,301
Payment of Dividends	-22	-10	-11	-10	-10	-10	-10	-10	-16	-16	-15
Other Financing Activities, Net	16,520	16,471	16,709	22,624	21,947	24,081	20,835	27,726	28,514	31,943	27,535
Cash Interest Paid	82	93	130	176	158	176	152	221	198	226	205
Cash Income Taxes Paid	28	-247	-0.42	-0.55	0.08	-0.28	0.12	0.54	1.40	-0.58	0.27

This table presents PennyMac Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	7,368	7,479	10,204	31,598	18,777	16,823	18,845	26,087
Cash and Due from Banks	38	155	188	533	340	1,329	938	238
Trading Account Securities	3,177	2,618	5,073	12,328	10,076	3,608	4,600	9,156
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	2,863	4,599	4,895	18,650	8,320	11,886	13,306	16,692
Total Liabilities & Shareholders' Equity	7,368	7,479	10,204	31,598	18,777	16,823	18,845	26,087
Total Liabilities	5,648	5,825	8,143	28,208	15,358	13,352	15,306	22,257
Long-Term Debt	2,627	3,143	3,017	17,220	6,580	8,712	9,729	11,867
Other Long-Term Liabilities	3,000	2,675	5,105	10,976	8,775	4,639	5,577	10,391
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,720	1,654	2,062	3,389	3,418	3,471	3,539	3,830
Total Preferred & Common Equity	469	1,654	2,062	3,389	3,418	3,471	3,539	3,830
Total Common Equity	469	1,654	2,062	3,389	3,418	3,471	3,539	3,830
Common Stock	204	1,311	1,335	1,047	125	0.01	24	56
Retained Earnings	265	343	726	2,342	3,293	3,471	3,514	3,774

This table presents PennyMac Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	16,362	20,103	17,984	18,949	19,802	21,578	22,872	23,873
Cash and Due from Banks	1,559	1,498	1,532	1,177	927	595	146	211
Trading Account Securities	4,314	6,883	4,356	5,290	5,834	7,299	7,717	8,085
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	10,457	11,687	12,096	12,482	13,040	13,683	15,009	15,577
Total Liabilities & Shareholders' Equity	16,362	20,103	17,984	18,949	19,802	21,578	22,872	23,873
Total Liabilities	12,880	16,651	14,506	15,376	16,231	17,916	19,132	19,969
Long-Term Debt	7,698	9,325	9,161	9,400	9,259	9,955	10,916	11,213
Other Long-Term Liabilities	5,182	7,326	5,344	5,976	6,973	7,961	8,217	8,757
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,482	3,452	3,479	3,573	3,570	3,661	3,739	3,904
Total Preferred & Common Equity	3,482	3,452	3,479	3,573	3,570	3,661	3,739	3,904
Total Common Equity	3,482	3,452	3,479	3,573	3,570	3,661	3,739	3,904
Common Stock	0.01	0.01	0.01	11	27	30	54	69
Retained Earnings	3,482	3,452	3,479	3,561	3,543	3,631	3,685	3,835

This table displays calculated financial ratios and metrics derived from PennyMac Financial Services' official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-11.69%	19.25%	50.01%	150.86%	-19.35%	-24.62%	-22.01%	-33.53%
EBITDA Growth	0.00%	-29.75%	-49.11%	118.79%	317.57%	-45.70%	-46.23%	-4.06%	-84.40%
EBIT Growth	0.00%	-46.62%	29.85%	97.64%	323.45%	-47.32%	-49.05%	-8.19%	-99.65%
NOPAT Growth	0.00%	-7.55%	-21.53%	60.76%	319.09%	-39.07%	-52.61%	-69.63%	115.68%
Net Income Growth	0.00%	-7.55%	-21.53%	60.76%	319.09%	-49.93%	-50.08%	-64.85%	115.29%
EPS Growth	0.00%	37.07%	-35.73%	88.80%	327.81%	-28.92%	-42.84%	-67.76%	113.14%
Operating Cash Flow Growth	0.00%	5.85%	164.79%	-492.23%	-176.11%	141.35%	135.39%	-126.23%	-186.51%
Free Cash Flow Firm Growth	0.00%	0.00%	95.27%	150.81%	-14,344.91%	183.77%	-114.68%	44.91%	-125.25%
Invested Capital Growth	0.00%	0.00%	9.99%	6.15%	304.39%	-51.50%	21.81%	8.90%	18.31%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	30.84%	-34.78%	121.65%	24.23%	12.21%	-23.24%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	455.81%	-64.21%	152.60%	81.57%	10.10%	-80.48%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	111.23%	-64.83%	148.34%	98.18%	10.88%	-99.53%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	34.00%	22.29%	-21.80%	-22.17%	-34.09%	83.12%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	145.85%	178.03%	-65.62%	120.39%	-52.95%	-15.54%
EPS Q/Q Growth	0.00%	0.00%	0.00%	33.61%	22.84%	-15.80%	-20.26%	-35.83%	83.65%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	15.53%	-21.34%	-38.42%	418.13%	13.05%	-3.88%	-131.97%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	15.98%	-7.15%	-294.68%	40.28%	-40.06%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	5.81%	-9.08%	-12.61%	8.97%	2.27%	7.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-
EBITDA Margin	75.23%	59.84%	25.54%	37.25%	62.00%	41.74%	29.78%	36.63%	8.60%
EBIT Margin	41.31%	24.97%	27.19%	35.82%	60.46%	39.49%	26.69%	31.43%	0.17%
Profit (Net Income) Margin	36.04%	37.73%	24.83%	26.61%	44.45%	27.59%	18.27%	8.23%	26.67%
Tax Burden Percent	87.97%	92.74%	91.31%	74.22%	73.50%	60.67%	61.87%	78.78%	77.66%
Interest Burden Percent	99.19%	162.94%	100.00%	100.07%	100.01%	115.16%	110.63%	33.26%	20,650.15%
Effective Tax Rate	12.03%	7.26%	8.69%	25.78%	26.50%	26.17%	28.52%	21.22%	22.34%
Return on Invested Capital (ROIC)	0.00%	14.26%	5.33%	7.94%	12.81%	6.55%	4.29%	1.13%	2.15%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	14.26%	5.33%	7.94%	12.81%	5.05%	3.45%	1.14%	2.15%
Return on Net Nonoperating Assets (RNNOA)	0.00%	21.97%	9.16%	13.22%	47.62%	17.67%	7.66%	2.99%	6.30%
Return on Equity (ROE)	0.00%	36.23%	14.49%	21.15%	60.43%	24.22%	11.95%	4.13%	8.45%
Cash Return on Invested Capital (CROIC)	0.00%	-185.74%	-4.18%	1.97%	-107.89%	75.91%	-15.38%	-7.39%	-14.62%
Operating Return on Assets (OROA)	0.00%	2.80%	3.61%	5.98%	10.72%	4.69%	3.38%	3.10%	0.01%
Return on Assets (ROA)	0.00%	4.23%	3.29%	4.44%	7.88%	3.27%	2.31%	0.81%	1.39%
Return on Common Equity (ROCE)	0.00%	9.89%	9.12%	21.15%	60.43%	24.22%	11.95%	4.13%	8.45%
Return on Equity Simple (ROE_SIMPLE)	0.00%	66.36%	14.78%	19.06%	48.59%	24.12%	11.86%	4.09%	8.13%
Net Operating Profit after Tax (NOPAT)	337	312	244	393	1,647	1,003	476	144	311
NOPAT Margin	36.04%	37.73%	24.83%	26.61%	44.45%	33.58%	21.11%	8.22%	26.67%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	1.50%	0.84%	0.00%	0.00%
SG&A Expenses to Revenue	42.77%	52.48%	49.82%	40.99%	24.10%	40.89%	42.71%	44.08%	71.69%
Operating Expenses to Revenue	58.69%	75.03%	72.81%	64.18%	39.54%	60.51%	73.31%	68.57%	99.83%
Earnings before Interest and Taxes (EBIT)	386	206	268	529	2,240	1,180	601	552	1.94
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	703	494	251	550	2,297	1,248	671	644	100
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.93	1.22	1.33	1.16	0.80	1.23	1.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.95	1.22	1.33	1.16	0.80	1.23	1.36
Price to Revenue (P/Rev)	0.00	0.00	1.56	1.70	1.22	1.33	1.23	2.48	4.47
Price to Earnings (P/E)	0.00	0.00	17.56	6.38	2.74	3.95	5.82	8.48	0.00
Dividend Yield	0.00%	0.00%	2.01%	0.38%	0.87%	1.19%	1.81%	0.92%	0.98%
Earnings Yield	0.00%	0.00%	5.70%	15.68%	36.44%	25.31%	17.19%	11.80%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.94	1.05	1.03	1.02	0.83	0.99	1.07
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.61	3.63	5.73	3.42	4.51	7.48	14.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	18.03	9.73	9.24	8.18	15.13	20.42	167.78
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	16.94	10.12	9.47	8.65	16.88	23.81	8,675.57
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	18.55	13.63	12.88	10.17	21.35	91.02	54.09
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	7.92	0.00	0.00	3.98	1.68	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	54.98	0.00	0.88	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.54	1.90	1.47	5.08	1.93	2.51	2.75	3.10
Long-Term Debt to Equity	0.00	1.54	1.90	1.47	5.08	1.93	2.51	2.75	3.10
Financial Leverage	0.00	1.54	1.72	1.67	3.72	3.50	2.22	2.63	2.93
Leverage Ratio	0.00	4.28	4.40	4.76	7.67	7.40	5.17	5.09	6.10
Compound Leverage Factor	0.00	6.98	4.40	4.76	7.67	8.52	5.72	1.69	1,259.24
Debt to Total Capital	0.00%	60.63%	65.57%	59.57%	83.56%	65.82%	71.51%	73.33%	75.60%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	60.63%	65.57%	59.57%	83.56%	65.82%	71.51%	73.33%	75.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	28.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	10.75%	34.43%	40.43%	16.44%	34.18%	28.49%	26.67%	24.40%
Debt to EBITDA	0.00	5.36	12.53	5.52	7.50	5.28	12.99	15.12	118.18
Net Debt to EBITDA	0.00	5.28	11.91	5.18	7.27	5.00	11.01	13.66	115.80
Long-Term Debt to EBITDA	0.00	5.36	12.53	5.52	7.50	5.28	12.99	15.12	118.18
Debt to NOPAT	0.00	8.50	12.89	7.73	10.46	6.56	18.32	67.37	38.10
Net Debt to NOPAT	0.00	8.38	12.25	7.25	10.14	6.22	15.53	60.87	37.33
Long-Term Debt to NOPAT	0.00	8.50	12.89	7.73	10.46	6.56	18.32	67.37	38.10
Noncontrolling Interest Sharing Ratio	0.00%	72.70%	37.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-4,056	-192	97	-13,875	11,623	-1,706	-940	-2,117
Operating Cash Flow to CapEx	-3,087.71%	-3,714.47%	1,854.51%	-6,322.69%	-10,549.41%	4,506.16%	7,627.93%	-4,498.77%	-20,515.32%
Free Cash Flow to Firm to Interest Expense	0.00	-28.07	-1.33	0.46	-51.10	29.75	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-8.84	-6.11	3.96	-10.59	-22.83	6.56	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-9.12	-6.28	3.75	-10.76	-23.04	6.41	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.11	0.13	0.17	0.18	0.12	0.13	0.10	0.05
Fixed Asset Turnover	0.00	28.03	31.34	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	4,368	4,804	5,099	20,622	10,002	12,183	13,268	15,696
Invested Capital Turnover	0.00	0.38	0.21	0.30	0.29	0.20	0.20	0.14	0.08
Increase / (Decrease) in Invested Capital	0.00	4,368	436	296	15,522	-10,620	2,182	1,084	2,429
Enterprise Value (EV)	0.00	0.00	4,535	5,355	21,219	10,209	10,150	13,144	16,848
Market Capitalization	0.00	0.00	1,540	2,505	4,519	3,966	2,767	4,353	5,220
Book Value per Share	$0.00	$20.23	$21.34	$26.28	$46.79	$57.91	$69.31	$70.88	$74.71
Tangible Book Value per Share	$0.00	$19.13	$20.83	$26.28	$46.79	$57.91	$69.31	$70.88	$74.71
Total Capital	0.00	4,368	4,804	5,099	20,622	10,002	12,183	13,268	15,696
Total Debt	0.00	2,648	3,150	3,038	17,232	6,583	8,712	9,729	11,867
Total Long-Term Debt	0.00	2,648	3,150	3,038	17,232	6,583	8,712	9,729	11,867
Net Debt	0.00	2,610	2,995	2,850	16,699	6,243	7,384	8,791	11,628
Capital Expenditures (CapEx)	30	24	31	36	59	57	79	35	22
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	179	64	-0.25	0.04
Net Nonoperating Obligations (NNO)	0.00	2,648	3,150	3,038	17,232	6,583	8,712	9,729	11,867
Total Depreciation and Amortization (D&A)	317	288	-16	21	57	67	69	91	98
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$2.62	$5.02	$21.91	$15.73	$8.96	$2.89	$6.11
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	33.52M	78.21M	75.16M	63.80M	53.07M	49.98M	50.99M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$2.59	$4.89	$20.92	$14.87	$8.50	$2.74	$5.84
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	35.32M	80.34M	78.73M	67.47M	55.95M	52.73M	53.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	77.53M	78.56M	69.24M	55.42M	50.03M	50.43M	51.43M
Normalized Net Operating Profit after Tax (NOPAT)	337	312	244	393	1,647	1,003	476	144	311
Normalized NOPAT Margin	36.04%	37.73%	24.83%	26.61%	44.45%	33.58%	21.11%	8.22%	26.67%
Pre Tax Income Margin	40.97%	40.68%	27.19%	35.85%	60.47%	45.48%	29.53%	10.45%	34.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.64	1.43	1.85	2.50	8.25	3.02	0.00	0.00	0.00
NOPAT to Interest Expense	3.17	2.16	1.69	1.85	6.06	2.57	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	3.35	1.26	1.64	2.33	8.03	2.88	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	2.89	1.99	1.48	1.69	5.85	2.42	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	2.26%	0.00%	4.11%	2.47%	1.88%	6.42%	13.27%	28.65%	16.75%
Augmented Payout Ratio	2.26%	2.76%	6.28%	2.74%	22.37%	122.62%	111.93%	78.07%	16.75%

This table displays calculated financial ratios and metrics derived from PennyMac Financial Services' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.58%	152.63%	-46.52%	-36.73%	20.44%	-19.83%	3.68%	21.32%	12.02%	-126.33%	35.58%
EBITDA Growth	325.52%	193.19%	-63.11%	-57.08%	62.67%	40.60%	33.13%	62.68%	10.71%	-316.86%	90.95%
EBIT Growth	498.45%	173.39%	-77.41%	-64.85%	66.36%	42.98%	52.02%	91.81%	7.87%	-359.25%	148.09%
NOPAT Growth	-45.80%	-78.27%	-82.50%	-54.95%	-31.28%	-200.91%	29.40%	68.68%	-25.31%	375.25%	94.06%
Net Income Growth	287.54%	96.56%	-89.37%	-59.11%	108.99%	-2,031.66%	91.23%	77.68%	12.81%	45.45%	101.15%
EPS Growth	-35.26%	-72.48%	-80.61%	-51.32%	-28.05%	-186.59%	29.82%	66.67%	-26.55%	374.65%	91.89%
Operating Cash Flow Growth	-140.85%	336.40%	-173.74%	30.76%	-66.06%	-12.08%	72.50%	-149.05%	59.66%	-599.37%	218.71%
Free Cash Flow Firm Growth	-96.51%	-119.86%	-132.28%	-156.03%	-524.50%	47.65%	99.60%	61.29%	5.17%	-107.09%	-18,046.14%
Invested Capital Growth	-2.32%	21.81%	31.27%	22.56%	16.04%	8.90%	0.40%	7.72%	12.96%	18.31%	17.83%
Revenue Q/Q Growth	-12.48%	58.79%	-25.75%	13.81%	66.61%	5.69%	-15.50%	33.17%	53.83%	-124.84%	512.82%
EBITDA Q/Q Growth	-11.15%	-21.46%	-66.50%	83.64%	236.72%	-32.12%	-49.22%	124.40%	129.14%	-232.96%	127.82%
EBIT Q/Q Growth	-12.91%	-24.58%	-79.20%	157.31%	312.19%	-35.18%	-61.50%	224.65%	131.81%	-255.78%	121.16%
NOPAT Q/Q Growth	4.51%	-72.16%	-19.24%	91.75%	59.43%	-140.88%	203.55%	149.97%	-29.40%	50.63%	-27.00%
Net Income Q/Q Growth	-9.54%	-106.86%	330.31%	186.15%	362.43%	-169.95%	-70.82%	165.87%	193.58%	-133.82%	176.19%
EPS Q/Q Growth	7.89%	-66.67%	-30.49%	94.74%	59.46%	-140.11%	204.23%	150.00%	-29.73%	50.00%	-27.18%
Operating Cash Flow Q/Q Growth	-134.49%	183.28%	-767.11%	168.25%	-143.80%	144.09%	-308.68%	-21.71%	63.98%	-445.77%	149.61%
Free Cash Flow Firm Q/Q Growth	-90.11%	-635.29%	-40.54%	24.72%	25.04%	33.99%	98.91%	-7,106.77%	-83.62%	-44.15%	4.87%
Invested Capital Q/Q Growth	8.40%	8.97%	4.88%	-1.08%	2.64%	2.27%	-3.31%	6.14%	7.63%	7.11%	-3.70%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	40.41%	19.99%	16.74%	27.01%	54.58%	35.05%	21.49%	36.21%	53.94%	0.00%	19.45%
EBIT Margin	36.50%	17.34%	9.01%	20.38%	50.42%	30.92%	13.22%	32.22%	48.55%	0.00%	15.61%
Profit (Net Income) Margin	25.51%	-1.10%	6.34%	15.95%	44.27%	-29.30%	11.70%	23.36%	44.58%	0.00%	11.20%
Tax Burden Percent	63.00%	-11.83%	48.38%	72.42%	192.59%	314.97%	80.42%	70.10%	293.29%	-72.02%	68.13%
Interest Burden Percent	110.94%	53.72%	145.47%	108.06%	45.59%	-30.08%	110.07%	103.42%	31.31%	-27.68%	105.35%
Effective Tax Rate	27.14%	44.46%	20.37%	20.11%	26.76%	0.00%	10.43%	26.59%	26.15%	19.23%	26.79%
Return on Invested Capital (ROIC)	4.73%	1.05%	1.54%	2.26%	2.18%	-0.90%	1.41%	2.71%	1.24%	0.00%	1.15%
ROIC Less NNEP Spread (ROIC-NNEP)	4.50%	0.45%	1.39%	2.19%	3.95%	-2.34%	1.37%	2.66%	3.27%	0.00%	1.10%
Return on Net Nonoperating Assets (RNNOA)	10.06%	1.01%	3.15%	5.05%	9.58%	-6.16%	3.61%	7.14%	9.07%	0.00%	3.01%
Return on Equity (ROE)	14.79%	2.06%	4.70%	7.31%	11.76%	-7.05%	5.02%	9.85%	10.31%	0.00%	4.16%
Cash Return on Invested Capital (CROIC)	7.75%	-15.38%	-24.09%	-17.99%	-13.03%	-7.39%	0.80%	-5.96%	-10.94%	-14.62%	-13.88%
Operating Return on Assets (OROA)	3.67%	2.19%	0.86%	1.86%	4.47%	3.05%	0.92%	2.37%	3.53%	0.00%	0.95%
Return on Assets (ROA)	2.56%	-0.14%	0.61%	1.46%	3.93%	-2.89%	0.81%	1.72%	3.24%	0.00%	0.68%
Return on Common Equity (ROCE)	14.79%	2.06%	4.70%	7.31%	11.76%	-7.05%	5.02%	9.85%	10.31%	0.00%	4.16%
Return on Equity Simple (ROE_SIMPLE)	5.36%	0.00%	7.43%	5.18%	8.61%	0.00%	8.30%	9.22%	9.86%	0.00%	8.89%
Net Operating Profit after Tax (NOPAT)	135	38	30	58	93	-38	39	98	69	104	76
NOPAT Margin	29.51%	5.17%	10.44%	17.59%	16.84%	-6.51%	13.03%	24.46%	11.23%	0.00%	12.04%
Net Nonoperating Expense Percent (NNEP)	0.23%	0.60%	0.15%	0.07%	-1.77%	1.44%	0.04%	0.05%	-2.03%	1.83%	0.05%
SG&A Expenses to Revenue	46.36%	25.07%	67.38%	56.74%	37.97%	31.04%	64.54%	47.54%	35.86%	0.00%	37.87%
Operating Expenses to Revenue	63.50%	82.66%	90.99%	79.62%	49.58%	69.08%	86.78%	67.78%	51.45%	0.00%	84.39%
Earnings before Interest and Taxes (EBIT)	167	126	26	67	278	180	40	129	300	-467	99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	185	145	49	89	301	204	65	145	333	-443	123
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.63	0.80	0.85	1.00	0.92	1.23	1.27	1.31	1.56	1.36	1.32
Price to Tangible Book Value (P/TBV)	0.63	0.80	0.85	1.00	0.92	1.23	1.27	1.31	1.56	1.36	1.32
Price to Revenue (P/Rev)	1.21	1.23	1.76	2.35	2.10	2.48	3.27	3.30	3.83	4.47	3.86
Price to Earnings (P/E)	4.32	5.82	6.51	9.48	10.17	8.48	29.45	24.81	34.30	0.00	0.00
Dividend Yield	1.92%	1.81%	1.71%	1.44%	1.52%	0.92%	0.88%	0.85%	0.79%	0.98%	1.10%
Earnings Yield	23.13%	17.19%	15.36%	10.55%	9.83%	11.80%	3.40%	4.03%	2.92%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.75	0.83	0.84	0.88	0.89	0.99	1.00	1.04	1.13	1.07	1.07
Enterprise Value to Revenue (EV/Rev)	4.59	4.51	6.47	7.54	7.35	7.48	9.28	9.73	10.91	14.43	12.11
Enterprise Value to EBITDA (EV/EBITDA)	22.55	15.13	18.32	23.68	19.69	20.42	30.17	29.37	32.28	167.78	101.49
Enterprise Value to EBIT (EV/EBIT)	27.45	16.88	21.04	28.67	23.12	23.81	38.69	35.93	39.91	8,675.57	264.85
Enterprise Value to NOPAT (EV/NOPAT)	13.63	21.35	32.39	42.44	52.53	91.02	83.70	73.15	97.62	54.09	46.36
Enterprise Value to Operating Cash Flow (EV/OCF)	1.56	1.68	0.00	0.00	0.00	0.00	16.38	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	9.51	0.00	0.00	0.00	0.00	0.00	125.91	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.21	2.51	2.70	2.63	2.63	2.75	2.59	2.72	2.92	3.10	2.87
Long-Term Debt to Equity	2.21	2.51	2.70	2.63	2.63	2.75	2.59	2.72	2.92	3.10	2.87
Financial Leverage	2.24	2.22	2.27	2.31	2.42	2.63	2.65	2.68	2.78	2.93	2.74
Leverage Ratio	5.17	5.17	5.04	4.65	5.01	5.09	5.68	5.54	5.72	6.10	5.84
Compound Leverage Factor	5.73	2.78	7.33	5.02	2.28	-1.53	6.25	5.73	1.79	-1.69	6.16
Debt to Total Capital	68.85%	71.51%	72.98%	72.48%	72.46%	73.33%	72.17%	73.11%	74.49%	75.60%	74.18%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	68.85%	71.51%	72.98%	72.48%	72.46%	73.33%	72.17%	73.11%	74.49%	75.60%	74.18%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	31.15%	28.49%	27.02%	27.52%	27.54%	26.67%	27.83%	26.89%	25.51%	24.40%	25.82%
Debt to EBITDA	20.84	12.99	15.87	19.55	16.08	15.12	21.73	20.65	21.22	118.18	70.46
Net Debt to EBITDA	16.62	11.01	13.32	16.28	14.07	13.66	19.55	19.41	20.94	115.80	69.13
Long-Term Debt to EBITDA	20.84	12.99	15.87	19.55	16.08	15.12	21.73	20.65	21.22	118.18	70.46
Debt to NOPAT	12.60	18.32	28.06	35.05	42.90	67.37	60.28	51.42	64.18	38.10	32.18
Net Debt to NOPAT	10.05	15.53	23.56	29.19	37.53	60.87	54.25	48.35	63.32	37.33	31.58
Long-Term Debt to NOPAT	12.60	18.32	28.06	35.05	42.90	67.37	60.28	51.42	64.18	38.10	32.18
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	401	-2,144	-3,013	-2,268	-1,700	-1,122	-12	-878	-1,612	-2,324	-2,211
Operating Cash Flow to CapEx	-2,686.09%	3,531.34%	-30,334.40%	24,454.84%	-11,261.74%	5,640.18%	-18,777.50%	-21,025.13%	-8,772.46%	-28,165.37%	14,197.62%
Free Cash Flow to Firm to Interest Expense	4.83	0.00	-22.87	-12.70	0.00	0.00	-0.07	-4.22	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-7.08	0.00	-24.78	12.47	0.00	0.00	-5.42	-5.26	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-7.35	0.00	-24.86	12.42	0.00	0.00	-5.45	-5.28	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.13	0.10	0.09	0.09	0.10	0.07	0.07	0.07	0.05	0.06
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,180	12,183	12,778	12,640	12,973	13,268	12,829	13,616	14,655	15,696	15,116
Invested Capital Turnover	0.16	0.20	0.15	0.13	0.13	0.14	0.11	0.11	0.11	0.08	0.10
Increase / (Decrease) in Invested Capital	-265	2,182	3,043	2,326	1,793	1,084	51	976	1,682	2,429	2,287
Enterprise Value (EV)	8,330	10,150	10,762	11,094	11,511	13,144	12,855	14,162	16,604	16,848	16,151
Market Capitalization	2,191	2,767	2,934	3,465	3,288	4,353	4,524	4,802	5,834	5,220	5,149
Book Value per Share	$66.37	$69.31	$69.00	$69.68	$71.64	$70.88	$70.63	$71.90	$73.04	$74.71	$75.90
Tangible Book Value per Share	$66.37	$69.31	$69.00	$69.68	$71.64	$70.88	$70.63	$71.90	$73.04	$74.71	$75.90
Total Capital	11,180	12,183	12,778	12,640	12,973	13,268	12,829	13,616	14,655	15,696	15,116
Total Debt	7,698	8,712	9,325	9,161	9,400	9,729	9,259	9,955	10,916	11,867	11,213
Total Long-Term Debt	7,698	8,712	9,325	9,161	9,400	9,729	9,259	9,955	10,916	11,867	11,213
Net Debt	6,139	7,384	7,828	7,629	8,223	8,791	8,331	9,360	10,770	11,628	11,001
Capital Expenditures (CapEx)	22	14	11	9.11	8.67	7.63	4.78	5.20	4.49	7.63	7.51
Net Nonoperating Expense (NNE)	18	46	12	5.44	-151	133	4.02	4.43	-206	198	5.29
Net Nonoperating Obligations (NNO)	7,698	8,712	9,325	9,161	9,400	9,729	9,259	9,955	10,916	11,867	11,213
Total Depreciation and Amortization (D&A)	18	19	22	22	23	24	25	16	33	24	24
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.59	$0.88	$0.61	$1.17	$1.86	($0.75)	$0.78	$1.93	$1.36	$2.04	$1.48
Adjusted Weighted Average Basic Shares Outstanding	52.17M	53.07M	50.15M	49.87M	49.90M	49.98M	50.55M	50.96M	51.18M	50.99M	51.51M
Adjusted Diluted Earnings per Share	$2.46	$0.82	$0.57	$1.11	$1.77	($0.71)	$0.74	$1.85	$1.30	$1.95	$1.42
Adjusted Weighted Average Diluted Shares Outstanding	54.97M	55.95M	53.35M	52.26M	52.56M	52.73M	53.10M	53.20M	53.50M	53.36M	53.62M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.08M	50.03M	49.92M	49.87M	49.93M	50.43M	50.92M	51.19M	51.26M	51.43M	51.66M
Normalized Net Operating Profit after Tax (NOPAT)	135	38	30	58	93	-38	39	98	69	104	76
Normalized NOPAT Margin	29.51%	5.17%	10.44%	17.59%	16.84%	-6.51%	13.03%	24.46%	11.23%	0.00%	12.04%
Pre Tax Income Margin	40.50%	9.31%	13.11%	22.02%	22.99%	-9.30%	14.55%	33.32%	15.20%	0.00%	16.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.02	0.00	0.20	0.38	0.00	0.00	0.24	0.62	0.00	0.00	0.00
NOPAT to Interest Expense	1.63	0.00	0.23	0.33	0.00	0.00	0.24	0.47	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	1.75	0.00	0.12	0.33	0.00	0.00	0.21	0.60	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	1.37	0.00	0.15	0.28	0.00	0.00	0.21	0.45	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	30.23%	13.27%	21.05%	29.45%	13.54%	28.65%	13.86%	12.24%	12.67%	16.75%	16.35%
Augmented Payout Ratio	358.01%	111.93%	141.94%	153.05%	53.51%	78.07%	22.68%	12.21%	12.65%	16.75%	16.35%

Financials Breakdown Chart

Key Financial Trends

PennyMac Financial Services (NYSE: PFSI) shows mixed financial trends over the past four years with notable fluctuations in revenues, net income, and cash flows. Here is a summary of key trends observed from quarterly data covering 2022 through Q1 2025.

Net income to common shareholders has demonstrated resilience, with Q1 2025 net income at $76.28 million, recovering from a Q4 2024 loss of -$294.65 million.
Total revenue improved significantly in recent quarters, reaching $633.7 million in Q1 2025 compared to $-153.5 million in Q4 2024, driven largely by strong non-interest income components.
Strong quarterly net cash from operating activities in Q1 2025, at over $1.06 billion, indicates healthy operational cash flow generation despite prior quarters' volatility.
Trading account securities increased steadily, reaching $8.08 billion as of Q1 2025 compared to $5.29 billion in Q3 2023, suggesting a growing investment portfolio supporting income generation.
Common equity has grown gradually, with total common equity rising from approximately $3.45 billion in Q1 2023 to $3.90 billion by Q1 2025, reflecting capital retention and equity strength.

Net interest income remains volatile and negative in recent quarters (e.g., -$18.2 million in Q1 2025), mainly due to interest expenses related to debt or securities, which could impact profitability if trends continue.
The company consistently pays quarterly cash dividends around $0.20 to $0.30 per share, suggesting a commitment to shareholder returns despite earnings variability.
Long-term debt levels have increased from approximately $7.7 billion in Q3 2022 to about $11.2 billion in Q1 2025, reflecting increased leverage; maintenance of debt levels requires close monitoring due to potential interest costs.
Large fluctuations exist in net realized and unrealized capital gains/losses on investments, significantly impacting non-interest income and total revenues quarter to quarter.
Other non-interest income and service charges show variability, affecting the consistency of operating results.

Significant quarterly losses occurred in Q4 2024 and Q4 2023, reporting net income attributable to common shareholders of -$294.65 million and -$170.81 million respectively, reflecting challenges in those periods.
Total non-interest expenses have been quite high, with Q1 2025 expenses at $534.8 million, driven by salaries, other operating expenses, and commissions, which pressure profitability.
Cash flows from financing activities frequently show large net outflows, suggesting substantial debt repayments and equity repurchases that could strain liquidity if not balanced properly.
Negative or volatile net interest income (especially when negative) can erode earnings quality and may reflect unfavorable interest rate spread environments.
Significant fluctuations in other service charges and trust fees as negative amounts suggest volatile fee income streams impacting overall revenue stability.

Summary: PennyMac Financial Services has experienced volatility in its core earnings and cash flows, with strong rebounds in the latest quarter. Investors should watch the company's ability to stabilize interest income and manage non-interest expenses while monitoring debt levels to maintain financial health going forward.

10/15/25 08:56 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About PennyMac Financial Services' Financials

When does PennyMac Financial Services' financial year end?

According to the most recent income statement we have on file, PennyMac Financial Services' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has PennyMac Financial Services' net income changed over the last 8 years?

In the past 8 years, PennyMac Financial Services' net income has ranged from $144.66 million in 2023 to $1.65 billion in 2020, and is currently $311.42 million as of their latest financial filing in 2024. See where experts think PennyMac Financial Services is headed by visiting PennyMac Financial Services' forecast page.

How has PennyMac Financial Services' revenue changed over the last 8 years?

Over the last 8 years, PennyMac Financial Services' total revenue changed from $935.03 million in 2016 to $1.17 billion in 2024, a change of 24.9%.

How much debt does PennyMac Financial Services have?

PennyMac Financial Services' total liabilities were at $22.26 billion at the end of 2024, a 45.4% increase from 2023, and a 294.0% increase since 2017.

How much cash does PennyMac Financial Services have?

In the past 7 years, PennyMac Financial Services' cash and equivalents has ranged from $37.73 million in 2017 to $1.33 billion in 2022, and is currently $238.48 million as of their latest financial filing in 2024.

How has PennyMac Financial Services' book value per share changed over the last 8 years?

Over the last 8 years, PennyMac Financial Services' book value per share changed from 0.00 in 2016 to 74.71 in 2024, a change of 7,471.4%.

Related Companies

This page (NYSE:PFSI) was last updated on 10/15/2025 by MarketBeat.com Staff

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PennyMac Financial Services (PFSI) Financials

Financials Breakdown Chart

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PennyMac Financial Services (PFSI) Financials

Annual Income Statements for PennyMac Financial Services

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Quarterly Metrics And Ratios for PennyMac Financial Services

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Key Financial Trends

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