PennyMac Mortgage Investment Trust (PMT) Financials

$12.61 +0.02 (+0.14%)

Closing price 10/3/2025 03:59 PM Eastern

Extended Trading

$12.62 +0.02 (+0.13%)

As of 10/3/2025 08:00 PM Eastern

Annual Income Statements for PennyMac Mortgage Investment Trust

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	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	195	90	76	-188	128	201	27	26	-115	158	119
Consolidated Net Income / (Loss)	195	90	76	118	153	226	52	57	-73	200	161
Net Income / (Loss) Continuing Operations	195	0.00	76	-173	148	226	178	57	-73	200	161
Total Pre-Tax Income	179	73	62	125	158	191	80	45	63	244	143
Total Revenue	357	190	132	87	216	474	595	420	304	429	334
Net Interest Income / (Expense)	87	77	72	44	48	20	-49	-109	-27	-96	-79
Total Interest Income	172	201	222	195	223	318	222	721	-0.59	-79	-65
Investment Securities Interest Income	172	201	222	195	223	318	222	721	384	640	635
Other Interest Income	-	-0.60	-	-	-	-	-	-	-384	-719	-700
Total Interest Expense	86	125	150	151	175	297	271	305	0.00	0.00	0.00
Total Non-Interest Income	270	114	59	43	168	453	643	3.55	304	508	399
Service Charges on Deposit Accounts	-	-	-	-	-	81	602	-	-205	-93	-227
Other Service Charges	65	28	-32	-116	48	398	766	240	679	678	660
Net Realized & Unrealized Capital Gains on Investments	237	105	114	156	82	433	-730	391	-183	-79	-37
Other Non-Interest Income	-32	-19	-22	2.86	38	-458	5.47	-628	14	1.78	2.19
Total Non-Interest Expense	177	116	70	253	63	283	390	376	241	185	192
Salaries and Employee Benefits	8.33	7.37	7.00	6.32	6.78	6.90	3.89	4.00	5.94	7.11	5.61
Other Operating Expenses	169	109	63	63	47	276	386	372	235	178	186
Income Tax Expense	-15	-17	-14	6.80	5.19	-36	27	-12	136	45	-18
Preferred Stock Dividends Declared	-	0.00	0.00	15	25	25	25	31	42	42	42
Basic Earnings per Share	$2.62	$1.19	$1.09	$1.53	$2.09	$2.54	$0.27	$0.26	($1.26)	$1.80	$1.37
Weighted Average Basic Shares Outstanding	73.50M	74.45M	68.64M	66.14M	60.90M	78.99M	99.37M	97.40M	91.43M	87.37M	86.82M
Diluted Earnings per Share	$2.47	$1.16	$1.08	$1.48	$1.99	$2.42	$0.27	$0.26	($1.26)	$1.63	$1.37
Weighted Average Diluted Shares Outstanding	82.21M	83.34M	77.11M	74.61M	69.37M	87.71M	99.37M	97.40M	91.43M	111.70M	86.82M
Weighted Average Basic & Diluted Shares Outstanding	74.30M	75.70M	66.70M	67M	61.20M	100.34M	97.90M	97.37M	88.89M	86.65M	86.86M
Cash Dividends to Common per Share	$2.40	$2.16	$1.88	$1.88	$1.88	$1.88	-	$0.00	$1.81	$1.60	$1.60

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-5.79	50	14	51	42	37	15	31	36	-0.78	-2.92
Consolidated Net Income / (Loss)	4.66	61	25	61	53	48	25	41	47	9.68	7.53
Net Income / (Loss) Continuing Operations	4.66	61	25	61	53	56	35	41	47	9.06	13
Total Pre-Tax Income	-5.48	39	47	118	40	32	29	27	55	-6.30	17
Total Revenue	49	90	90	163	85	74	71	81	113	45	70
Net Interest Income / (Expense)	-22	-26	-25	-25	-20	-28	-20	-7.44	-24	-6.05	-8.67
Total Interest Income	-713	317	163	-21	-538	-28	-20	-3.43	-517	328	-8.67
Investment Securities Interest Income	-329	317	163	159	1.06	144	152	177	2.78	328	196
Other Interest Income	-	-	-	-180	-	-172	-172	-180	-	-	-205
Total Interest Expense	-256	179	187	0.00	-367	0.00	0.00	0.00	-343	182	0.00
Total Non-Interest Income	507	-48	115	185	256	102	91	84	286	-101	79
Service Charges on Deposit Accounts	-	-	24	-50	-	-90	-18	-67	-	-	-61
Other Service Charges	615	12	177	170	319	165	167	169	323	7.12	162
Net Realized & Unrealized Capital Gains on Investments	514	132	1.95	65	-278	54	-7.58	-18	-65	75	51
Other Non-Interest Income	-418	-192	-88	-	-	-28	-50	-	-	-183	-74
Total Non-Interest Expense	55	52	44	45	44	34	33	54	58	52	48
Salaries and Employee Benefits	1.59	1.54	1.28	1.96	2.33	1.92	1.37	1.33	1.00	2.97	2.84
Other Operating Expenses	53	50	42	43	42	32	32	53	57	49	45
Income Tax Expense	-10	-22	22	57	-13	-15	3.18	-15	8.59	-16	9.47
Preferred Stock Dividends Declared	10	10	10	10	10	10	10	10	10	10	10
Basic Earnings per Share	($0.07)	$0.56	$0.16	$0.59	$0.49	$0.43	$0.17	$0.36	$0.41	($0.01)	($0.04)
Weighted Average Basic Shares Outstanding	91.43M	88.83M	87.27M	86.76M	87.37M	86.69M	86.85M	86.86M	86.82M	86.91M	87.01M
Diluted Earnings per Share	($0.07)	$0.50	$0.16	$0.51	$0.46	$0.39	$0.17	$0.36	$0.45	($0.01)	($0.04)
Weighted Average Diluted Shares Outstanding	91.43M	113.39M	87.27M	111.09M	111.70M	111.02M	86.85M	86.86M	86.82M	86.91M	87.01M
Weighted Average Basic & Diluted Shares Outstanding	88.89M	87.56M	86.76M	86.62M	86.65M	86.85M	86.86M	86.86M	86.86M	87.01M	87.02M
Cash Dividends to Common per Share	-	$0.00	-	$0.40	-	$0.40	$0.40	$0.40	-	$0.40	$0.40

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	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	49	-18	-24	43	-18	44	-46	1.28	53	169	57
Net Cash From Operating Activities	-366	-863	-622	223	-574	-2,985	672	-2,820	1,784	1,340	-2,703
Net Cash From Continuing Operating Activities	-366	-863	-622	223	-574	-2,985	672	-2,820	1,784	1,340	-2,703
Net Income / (Loss) Continuing Operations	195	90	76	118	153	226	52	57	-73	200	161
Consolidated Net Income / (Loss)	195	90	76	118	153	226	52	57	-73	200	161
Amortization Expense	8.18	11	15	19	-4.05	14	44	37	6.75	15	-0.22
Non-Cash Adjustments to Reconcile Net Income	-491	-881	-685	98	-736	-3,331	-45	-2,416	1,810	992	-2,111
Changes in Operating Assets and Liabilities, net	-78	-83	-27	-12	14	106	621	-497	41	134	-753
Net Cash From Investing Activities	28	12	194	682	-1,424	-705	-15	1,093	-1,867	-22	1,360
Net Cash From Continuing Investing Activities	28	12	194	682	-1,424	-705	-15	1,093	-1,867	-22	1,360
Purchase of Investment Securities	-802	-393	-856	-405	-1,872	-1,236	-2,249	-2,229	-3,693	-3,187	-679
Sale and/or Maturity of Investments	921	666	1,232	1,037	943	1,332	3,180	1,795	1,442	3,212	1,618
Other Investing Activities, net	-92	-262	-183	50	-495	-801	-947	1,527	384	-47	421
Net Cash From Financing Activities	387	833	404	-862	1,980	3,734	-703	1,728	136	-1,149	1,399
Net Cash From Continuing Financing Activities	387	833	404	-862	1,980	3,734	-701	1,729	136	-1,149	1,399
Issuance of Debt	4,247	7,537	6,738	7,357	450	1,519	850	3,058	1,327	2,980	2,483
Repayment of Debt	-35,646	-56,757	-76,971	-86,272	-91,455	-141,039	-197,324	-199,202	-125,648	-124,483	-124,998
Repurchase of Common Equity	0.00	-16	-98	-91	-11	0.00	-37	-57	-88	-28	0.00
Payment of Dividends	-174	-173	-132	-140	-141	-166	-177	-214	-215	-182	-181
Other Financing Activities, Net	31,870	50,243	70,867	77,975	93,136	142,581	195,981	197,894	124,760	120,564	124,095
Cash Interest Paid	-	-	-	-	-	-	290	299	369	718	712
Cash Income Taxes Paid	-	-	-	-	-	-	5.61	1.77	-5.81	6.52	7.81

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Change in Cash & Equivalents	53	143	42	-149	133	-155	-133	315	238	-90	115
Net Cash From Operating Activities	509	-1,276	2,020	64	533	-342	244	-984	-1,621	-594	-2,016
Net Cash From Continuing Operating Activities	509	-1,276	2,020	64	533	-342	244	-984	-1,621	-595	-2,015
Net Income / (Loss) Continuing Operations	4.66	61	25	61	53	48	25	41	47	9.68	7.53
Consolidated Net Income / (Loss)	4.66	61	25	61	53	48	25	41	47	9.68	7.53
Amortization Expense	6.25	5.05	5.23	8.92	-4.41	3.72	-1.66	-11	9.01	-6.83	-0.31
Non-Cash Adjustments to Reconcile Net Income	516	-1,337	2,038	50	242	-123	246	-938	-1,296	-834	-1,980
Changes in Operating Assets and Liabilities, net	-18	-4.70	-48	-56	243	-271	-26	-76	-380	237	-42
Net Cash From Investing Activities	-525	-123	-9.91	193	-82	771	-7.32	315	282	40	273
Net Cash From Continuing Investing Activities	-525	14	-88	47	5.92	771	-145	416	527	40	273
Purchase of Investment Securities	-416	-2,815	-227	-137	-8.12	-189	-28	-77	-169	-101	61
Sale and/or Maturity of Investments	6.24	2,717	132	209	153	818	-87	401	271	148	230
Other Investing Activities, net	-115	111	6.70	-26	-139	142	-30	93	425	-6.49	-18
Net Cash From Financing Activities	69	1,406	-1,890	-259	-406	-583	-232	883	1,332	464	1,858
Net Cash From Continuing Financing Activities	69	1,406	-1,890	-259	-406	-583	-232	883	1,332	464	1,858
Issuance of Debt	-2,836	416	650	727	1,187	306	581	1,079	487	1,409	1,764
Repayment of Debt	-27,245	-32,421	-33,131	-29,711	-29,220	-24,456	-32,072	-37,459	-31,317	-35,696	-37,060
Payment of Dividends	-53	-46	-46	-45	-45	-45	-45	-45	-45	-45	-45
Other Financing Activities, Net	30,217	33,464	30,656	28,770	27,674	23,612	31,304	37,308	32,207	34,796	37,199
Cash Interest Paid	124	189	176	197	156	188	196	181	147	220	178
Cash Income Taxes Paid	-1.81	0.00	4.14	2.00	0.38	0.05	7.01	0.48	0.27	0.11	1.92

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	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
Total Assets	4,897	5,827	6,358	5,605	7,813	11,771	14,279	13,773	13,922	13,114	14,409
Cash and Due from Banks	76	58	34	78	60	104	58	59	112	281	338
Trading Account Securities	956	1,616	2,572	2,373	4,254	7,098	5,930	6,872	6,369	5,683	6,237
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	2,799	0.00	0.00	0.00	0.00
Customer and Other Receivables	6.62	-	457	593	4.08	1,973	8.15	1,721	1,325	1,209	1,111
Mortgage Servicing Rights	2,727	2,556	1,722	1,089	446	271	295	1,569	1,513	1,434	2,194
Other Assets	1,131	1,441	1,544	1,429	1,903	2,327	2,389	3,556	4,602	4,510	4,520
Total Liabilities & Shareholders' Equity	4,897	5,827	6,358	5,605	7,813	11,771	11,742	13,773	13,922	13,114	14,409
Total Liabilities	3,319	4,331	5,006	4,060	6,247	9,320	9,446	11,405	11,959	11,157	12,470
Accrued Interest Payable	-	-	1.06	0.90	0.84	0.71	-	3.70	4.34	4.11	6.38
Other Short-Term Payables	-	64	108	65	71	91	-	96	160	355	139
Long-Term Debt	430	1,062	901	599	1,149	2,383	2,408	4,494	4,765	4,848	5,588
Other Long-Term Liabilities	2,889	3,182	3,838	3,251	4,891	6,739	7,038	6,842	7,157	5,971	6,717
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,578	1,496	1,351	1,545	1,566	2,451	2,296	2,368	1,963	1,957	1,939
Total Preferred & Common Equity	1,578	1,496	1,351	1,545	1,566	2,451	2,296	2,368	1,963	1,957	1,939
Preferred Stock	-	-	0.00	300	300	300	300	541	541	541	541
Total Common Equity	1,578	1,496	1,351	1,245	1,266	2,151	1,996	1,826	1,421	1,416	1,397
Common Stock	1,480	1,470	1,378	1,292	1,286	2,129	2,097	2,083	1,948	1,924	1,926
Retained Earnings	98	26	-27	-47	-20	22	-101	-257	-527	-509	-529

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	13,217	13,946	15,357	13,385	13,223	12,294	12,081	13,056	14,876	16,801
Cash and Due from Banks	332	59	119	239	236	127	131	344	248	363
Trading Account Securities	5,664	6,215	7,862	5,840	5,721	4,924	4,853	5,930	6,083	6,635
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	1,434	1,373	1,298	1,270	1,237	1,187	1,163	1,135	1,088	1,065
Mortgage Servicing Rights	1,654	1,523	1,502	1,457	1,372	1,409	1,378	1,430	3,229	4,567
Other Assets	4,137	4,781	4,581	4,575	4,658	4,651	4,560	4,212	4,225	4,173
Total Liabilities & Shareholders' Equity	13,217	13,946	15,357	13,385	13,223	12,294	12,081	13,056	14,876	16,801
Total Liabilities	11,147	11,929	13,386	11,453	11,274	10,335	10,141	11,119	12,974	14,935
Accrued Interest Payable	4.50	4.41	4.29	4.22	4.16	4.05	4.00	3.94	12	18
Other Short-Term Payables	123	98	153	105	93	125	126	114	105	142
Long-Term Debt	4,914	4,816	4,741	5,102	4,728	4,815	5,049	5,009	6,429	7,726
Other Long-Term Liabilities	6,250	7,168	8,610	6,309	6,496	5,381	4,953	5,977	6,426	7,048
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,071	2,017	1,971	1,931	1,949	1,959	1,940	1,937	1,903	1,866
Total Preferred & Common Equity	2,071	2,017	1,971	1,931	1,949	1,959	1,940	1,937	1,903	1,866
Preferred Stock	541	541	541	541	541	541	541	541	541	541
Total Common Equity	1,529	1,476	1,429	1,390	1,408	1,417	1,398	1,395	1,361	1,324
Common Stock	1,974	1,961	1,941	1,923	1,924	1,924	1,925	1,925	1,926	1,927
Retained Earnings	-445	-485	-512	-533	-516	-506	-526	-530	-565	-602

This table displays calculated financial ratios and metrics derived from PennyMac Mortgage Investment Trust's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	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	-12.03%	-46.70%	0.00%	-68.11%	148.57%	119.65%	25.51%	-29.32%	-27.72%	41.23%	-22.10%
EBITDA Growth	-16.06%	-54.82%	-8.90%	-291.47%	201.50%	37.06%	21.79%	-67.19%	-14.44%	271.13%	-45.05%
EBIT Growth	-16.39%	-58.82%	-15.74%	-369.25%	192.05%	24.54%	7.56%	-78.22%	41.26%	287.39%	-41.63%
NOPAT Growth	-2.82%	-53.69%	-15.86%	55.32%	29.77%	48.14%	-76.86%	8.56%	-228.90%	372.43%	-19.37%
Net Income Growth	-2.82%	-53.69%	0.00%	55.32%	29.77%	48.14%	-76.86%	8.56%	-228.90%	372.43%	-19.37%
EPS Growth	-16.55%	-53.04%	0.00%	37.04%	34.46%	21.61%	-88.84%	-3.70%	-584.62%	229.37%	-15.95%
Operating Cash Flow Growth	-50.74%	-135.82%	27.99%	135.90%	-357.14%	-420.27%	122.50%	-519.82%	163.29%	-24.90%	-301.68%
Free Cash Flow Firm Growth	-45.72%	-255.62%	181.11%	-119.45%	-58.87%	-1,527.71%	-24.80%	118.51%	-86.10%	102.72%	-556.15%
Invested Capital Growth	-4.86%	27.52%	-11.69%	8.43%	10.96%	77.65%	49.79%	-5.23%	-1.95%	1.14%	10.60%
Revenue Q/Q Growth	-10.76%	-24.32%	-48.06%	-70.40%	66.30%	300.71%	-15.59%	-40.98%	0.00%	9.00%	9.15%
EBITDA Q/Q Growth	-18.86%	-3.34%	10.31%	-232.48%	236.76%	133.34%	-70.63%	3.76%	0.00%	15.69%	24.71%
EBIT Q/Q Growth	-19.25%	-5.63%	12.65%	-279.85%	235.33%	130.74%	-74.80%	15.59%	0.00%	23.06%	11.58%
NOPAT Q/Q Growth	-11.86%	-10.71%	25.63%	8.94%	0.52%	8.11%	86.44%	-63.70%	0.00%	31.87%	-3.81%
Net Income Q/Q Growth	-11.86%	-10.71%	25.63%	8.94%	0.52%	8.11%	86.44%	-63.70%	0.00%	31.87%	-3.81%
EPS Q/Q Growth	-10.18%	-10.08%	30.12%	2.07%	2.58%	-0.82%	2,800.00%	-80.74%	0.00%	48.18%	-0.72%
Operating Cash Flow Q/Q Growth	-84.01%	-69.64%	47.72%	-56.55%	33.39%	-41.88%	80,827.88%	-4.59%	0.00%	1.83%	-392.00%
Free Cash Flow Firm Q/Q Growth	-18.93%	-501.52%	49.03%	11.72%	52.81%	-19.50%	-4,429.95%	121.70%	-99.07%	101.88%	-457.11%
Invested Capital Q/Q Growth	0.48%	17.67%	13.93%	12.71%	5.74%	10.83%	67.02%	5.56%	0.00%	1.91%	8.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	52.60%	44.58%	58.18%	-169.19%	69.09%	43.11%	41.83%	19.42%	22.99%	60.41%	42.62%
EBIT Margin	50.31%	38.87%	46.86%	-191.63%	70.96%	40.24%	34.48%	10.63%	20.77%	56.97%	42.68%
Profit (Net Income) Margin	54.53%	47.38%	57.52%	135.69%	70.84%	47.78%	8.81%	13.53%	-24.13%	46.54%	48.17%
Tax Burden Percent	108.40%	122.91%	122.74%	94.54%	96.71%	118.73%	65.69%	127.30%	-116.17%	81.69%	112.85%
Interest Burden Percent	100.00%	99.18%	100.00%	-74.89%	103.21%	100.00%	38.88%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-8.40%	-22.91%	-22.74%	5.46%	3.29%	-18.73%	34.31%	-27.30%	216.17%	18.31%	-12.85%
Return on Invested Capital (ROIC)	9.45%	3.94%	3.14%	5.00%	5.91%	5.99%	0.87%	0.81%	-1.08%	2.95%	2.25%
ROIC Less NNEP Spread (ROIC-NNEP)	9.45%	3.94%	3.14%	5.00%	5.91%	5.99%	0.87%	0.81%	-1.08%	2.95%	2.25%
Return on Net Nonoperating Assets (RNNOA)	3.33%	1.92%	2.18%	3.14%	3.92%	5.28%	1.34%	1.63%	-2.31%	7.24%	6.02%
Return on Equity (ROE)	12.78%	5.86%	5.33%	8.13%	9.82%	11.27%	2.21%	2.44%	-3.38%	10.19%	8.26%
Cash Return on Invested Capital (CROIC)	14.43%	-20.24%	15.56%	-3.10%	-4.48%	-49.94%	-39.00%	6.18%	0.89%	1.82%	-7.82%
Operating Return on Assets (OROA)	3.90%	1.38%	1.01%	-2.78%	2.28%	1.95%	1.57%	0.32%	0.46%	1.81%	1.04%
Return on Assets (ROA)	4.23%	1.68%	1.24%	1.97%	2.28%	2.31%	0.40%	0.41%	-0.53%	1.48%	1.17%
Return on Common Equity (ROCE)	12.78%	5.86%	5.33%	7.29%	7.93%	9.59%	1.93%	2.00%	-2.54%	7.37%	5.97%
Return on Equity Simple (ROE_SIMPLE)	12.33%	6.02%	5.61%	7.62%	9.76%	9.24%	2.28%	2.40%	-3.73%	10.20%	8.30%
Net Operating Profit after Tax (NOPAT)	195	90	76	118	153	226	52	57	-73	200	161
NOPAT Margin	54.53%	47.38%	57.52%	135.69%	70.84%	47.78%	8.81%	13.53%	-24.13%	46.54%	48.17%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	2.33%	3.87%	5.31%	7.29%	3.14%	1.46%	0.65%	0.95%	1.96%	1.66%	1.68%
Operating Expenses to Revenue	49.69%	61.13%	53.14%	291.63%	29.04%	59.76%	65.52%	89.37%	79.23%	43.03%	57.32%
Earnings before Interest and Taxes (EBIT)	179	74	62	-166	153	191	205	45	63	244	143
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	188	85	77	-147	149	204	249	82	70	259	142
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.35	0.30	0.36	0.42	0.50	0.57	0.58	0.67	0.61	0.81	0.78
Price to Tangible Book Value (P/TBV)	0.35	0.30	0.36	0.42	0.50	0.57	0.58	0.67	0.61	0.81	0.78
Price to Revenue (P/Rev)	1.54	2.35	3.72	6.08	2.91	2.58	1.94	2.92	2.86	2.69	3.27
Price to Earnings (P/E)	2.82	4.96	6.47	0.00	4.91	6.06	42.05	47.33	0.00	7.30	9.18
Dividend Yield	40.37%	35.68%	25.58%	23.38%	18.26%	14.01%	13.02%	14.84%	18.51%	12.02%	12.71%
Earnings Yield	35.43%	20.18%	15.46%	0.00%	20.37%	16.50%	2.38%	2.11%	0.00%	13.69%	10.90%
Enterprise Value to Invested Capital (EV/IC)	0.45	0.51	0.60	0.48	0.32	0.79	0.14	0.90	0.90	0.92	0.91
Enterprise Value to Revenue (EV/Rev)	2.53	6.87	10.37	13.65	4.06	8.02	1.69	14.76	19.96	14.59	20.60
Enterprise Value to EBITDA (EV/EBITDA)	4.81	15.41	17.82	0.00	5.88	18.60	4.04	76.03	86.84	24.16	48.34
Enterprise Value to EBIT (EV/EBIT)	5.03	17.68	22.12	0.00	5.72	19.93	4.90	138.95	96.12	25.62	48.27
Enterprise Value to NOPAT (EV/NOPAT)	4.64	14.50	18.02	10.06	5.73	16.79	19.18	109.15	0.00	31.36	42.77
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	5.31	0.00	0.00	1.50	0.00	3.40	4.67	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	3.04	0.00	3.64	0.00	0.00	0.00	0.00	14.24	100.09	50.97	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.27	0.71	0.67	0.59	0.74	0.97	1.05	1.90	2.43	2.48	2.88
Long-Term Debt to Equity	0.27	0.71	0.67	0.59	0.73	0.97	1.05	1.90	2.43	2.48	2.88
Financial Leverage	0.35	0.49	0.69	0.63	0.66	0.88	1.54	2.02	2.14	2.45	2.68
Leverage Ratio	3.02	3.49	4.28	4.13	4.31	4.88	5.49	6.02	6.40	6.90	7.07
Compound Leverage Factor	3.02	3.46	4.28	-3.09	4.45	4.88	2.13	6.02	6.40	6.90	7.07
Debt to Total Capital	21.42%	41.58%	40.26%	37.02%	42.45%	49.30%	51.19%	65.50%	70.83%	71.24%	74.24%
Short-Term Debt to Total Capital	0.00%	0.12%	0.42%	0.05%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	21.42%	41.46%	39.84%	36.96%	42.23%	49.30%	51.19%	65.50%	70.83%	71.24%	74.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	12.22%	11.01%	6.20%	6.37%	7.89%	8.05%	7.96%	7.19%
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	78.58%	58.42%	59.74%	50.76%	46.54%	44.50%	42.44%	26.61%	21.13%	20.80%	18.56%
Debt to EBITDA	2.29	12.56	11.87	-6.18	7.75	11.67	9.68	55.07	68.24	18.70	39.23
Net Debt to EBITDA	1.89	10.14	11.43	-2.43	-0.34	11.16	-1.80	54.34	66.63	17.62	36.86
Long-Term Debt to EBITDA	2.29	12.52	11.75	-6.17	7.71	11.67	9.68	55.07	68.24	18.70	39.23
Debt to NOPAT	2.21	11.82	12.01	7.71	7.56	10.53	45.98	79.05	-65.02	24.28	34.71
Net Debt to NOPAT	1.82	9.54	11.56	3.03	-0.34	10.07	-8.57	78.01	-63.50	22.87	32.61
Long-Term Debt to NOPAT	2.21	11.78	11.89	7.70	7.52	10.53	45.98	79.05	-65.02	24.28	34.71
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	10.35%	19.27%	14.92%	12.63%	18.04%	25.01%	27.63%	27.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	297	-463	375	-73	-116	-1,887	-2,355	436	61	123	-560
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	3.47	-3.71	2.50	-0.48	-0.66	-6.34	-8.70	1.43	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-4.28	-6.92	-4.15	1.47	-3.28	-10.04	2.48	-9.25	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-4.28	-6.92	-4.15	1.47	-3.28	-10.04	2.48	-9.25	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.04	0.02	0.01	0.03	0.05	0.05	0.03	0.02	0.03	0.02
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	2,008	2,561	2,262	2,452	2,721	4,834	7,241	6,862	6,728	6,805	7,526
Invested Capital Turnover	0.17	0.08	0.05	0.04	0.08	0.13	0.10	0.06	0.04	0.06	0.05
Increase / (Decrease) in Invested Capital	-103	553	-299	191	269	2,113	2,407	-379	-134	77	721
Enterprise Value (EV)	903	1,306	1,366	1,184	876	3,800	1,004	6,206	6,064	6,261	6,885
Market Capitalization	549	447	490	527	628	1,221	1,154	1,229	869	1,153	1,094
Book Value per Share	$21.29	$20.28	$20.26	$18.99	$20.78	$23.64	$20.21	$18.82	$15.98	$16.34	$16.08
Tangible Book Value per Share	$21.29	$20.28	$20.26	$18.99	$20.78	$23.64	$20.21	$18.82	$15.98	$16.34	$16.08
Total Capital	2,008	2,561	2,262	2,452	2,721	4,834	4,704	6,862	6,728	6,805	7,526
Total Debt	430	1,065	911	908	1,155	2,383	2,408	4,494	4,765	4,848	5,588
Total Long-Term Debt	430	1,062	901	907	1,149	2,383	2,408	4,494	4,765	4,848	5,588
Net Debt	354	860	876	357	-51	2,279	-449	4,435	4,653	4,567	5,250
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	430	1,065	911	908	1,155	2,383	4,945	4,494	4,765	4,848	5,588
Total Depreciation and Amortization (D&A)	8.18	11	15	19	-4.05	14	44	37	6.75	15	-0.22
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.62	$1.19	$1.09	$1.53	$2.09	$2.54	$0.27	$0.26	($1.26)	$1.80	$1.37
Adjusted Weighted Average Basic Shares Outstanding	73.50M	74.45M	68.64M	66.14M	60.90M	78.99M	99.37M	97.40M	91.43M	87.37M	86.82M
Adjusted Diluted Earnings per Share	$2.47	$1.16	$1.08	$1.48	$1.99	$2.42	$0.27	$0.26	($1.26)	$1.63	$1.37
Adjusted Weighted Average Diluted Shares Outstanding	82.21M	83.34M	77.11M	74.61M	69.37M	87.71M	99.37M	97.40M	91.43M	111.70M	86.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.09	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	74.51M	72.25M	66.70M	60.67M	67.95M	100.34M	97.90M	97.37M	88.89M	86.65M	86.86M
Normalized Net Operating Profit after Tax (NOPAT)	126	51	43	292	161	133	52	31	44	200	100
Normalized NOPAT Margin	35.21%	26.98%	32.80%	335.98%	74.78%	28.17%	8.81%	7.44%	14.54%	46.54%	29.88%
Pre Tax Income Margin	50.31%	38.55%	46.86%	143.52%	73.24%	40.24%	13.41%	10.63%	20.77%	56.97%	42.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.10	0.59	0.41	-1.10	0.87	0.64	0.76	0.15	0.00	0.00	0.00
NOPAT to Interest Expense	2.27	0.72	0.51	0.78	0.87	0.76	0.19	0.19	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	2.10	0.59	0.41	-1.10	0.87	0.64	0.76	0.15	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	2.27	0.72	0.51	0.78	0.87	0.76	0.19	0.19	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	89.66%	192.03%	173.54%	119.07%	91.98%	73.31%	337.05%	376.61%	-293.87%	91.38%	112.51%
Augmented Payout Ratio	89.66%	210.17%	303.30%	196.52%	98.99%	73.31%	408.21%	476.61%	-413.93%	105.65%	112.51%

This table displays calculated financial ratios and metrics derived from PennyMac Mortgage Investment Trust's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	10.42%	320.71%	8.18%	71.72%	-17.88%	-26.67%	-50.52%	33.05%	-39.70%	-1.40%
EBITDA Growth	0.00%	84.84%	206.27%	34.97%	4,587.99%	-17.68%	-48.26%	-88.02%	78.59%	-131.12%	-39.57%
EBIT Growth	0.00%	114.87%	217.52%	31.03%	835.52%	-16.55%	-38.94%	-77.59%	36.71%	-117.10%	-41.42%
NOPAT Growth	0.00%	417.30%	188.23%	415.59%	1,478.82%	-21.56%	3.29%	-32.59%	-12.05%	-109.26%	-70.38%
Net Income Growth	0.00%	417.30%	134.81%	415.59%	1,034.70%	-21.56%	3.29%	-32.59%	-12.05%	-79.67%	-70.38%
EPS Growth	0.00%	256.25%	118.18%	5,000.00%	757.14%	-22.00%	6.25%	-29.41%	-2.17%	-102.56%	-123.53%
Operating Cash Flow Growth	0.00%	-173.05%	3,007.18%	115.83%	4.72%	73.17%	-87.93%	-1,645.95%	-404.03%	-73.57%	-926.74%
Free Cash Flow Firm Growth	-65.70%	126.11%	97.60%	-201.59%	-118.40%	-105.58%	392.27%	96.58%	-2,720.53%	-10,434.39%	-3,823.46%
Invested Capital Growth	-1.95%	-2.96%	0.69%	0.00%	1.14%	0.93%	-0.63%	4.01%	10.60%	22.99%	37.23%
Revenue Q/Q Growth	-67.32%	83.05%	0.10%	80.68%	-48.13%	-12.47%	-10.61%	21.91%	39.48%	-60.33%	56.88%
EBITDA Q/Q Growth	-99.19%	5,624.80%	18.76%	144.52%	-71.80%	0.53%	-25.36%	-43.40%	320.48%	-121.44%	258.78%
EBIT Q/Q Growth	-106.07%	807.79%	20.75%	152.75%	-65.95%	-19.69%	-11.65%	-7.25%	107.75%	-112.55%	420.01%
NOPAT Q/Q Growth	-132.21%	1,681.72%	-59.43%	149.44%	-13.86%	-10.02%	-46.58%	62.80%	12.38%	-109.48%	270.87%
Net Income Q/Q Growth	-60.86%	1,201.67%	-59.43%	149.44%	-13.86%	-10.02%	-46.58%	62.80%	12.38%	-79.20%	-22.17%
EPS Q/Q Growth	-800.00%	814.29%	-68.00%	218.75%	-9.80%	-15.22%	-56.41%	111.76%	25.00%	-102.22%	-300.00%
Operating Cash Flow Q/Q Growth	226.59%	-350.75%	258.26%	-96.85%	737.57%	-164.23%	171.21%	-503.53%	-64.72%	63.33%	-239.17%
Free Cash Flow Firm Q/Q Growth	-98.00%	104.24%	-108.98%	-27,648.40%	99.64%	38.03%	570.08%	-425.06%	-197.86%	-131.45%	-66.15%
Invested Capital Q/Q Growth	0.00%	-0.24%	4.79%	-5.06%	1.91%	-0.45%	3.18%	-0.63%	8.36%	10.70%	15.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	1.55%	48.53%	57.58%	77.92%	42.36%	48.65%	40.62%	18.86%	56.86%	-30.73%	31.10%
EBIT Margin	-11.10%	42.94%	51.80%	72.46%	47.56%	43.64%	43.13%	32.81%	48.87%	-15.46%	31.54%
Profit (Net Income) Margin	9.45%	67.17%	27.22%	37.58%	62.41%	64.16%	38.34%	51.21%	41.26%	21.63%	10.73%
Tax Burden Percent	-85.06%	156.43%	52.56%	51.87%	131.22%	147.02%	88.90%	156.05%	84.42%	-153.68%	44.30%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	91.05%	76.82%
Effective Tax Rate	0.00%	-56.43%	47.44%	48.13%	-31.22%	-47.02%	11.10%	-56.05%	15.58%	0.00%	55.70%
Return on Invested Capital (ROIC)	-0.35%	3.08%	1.48%	4.43%	3.96%	3.93%	2.13%	2.30%	1.92%	-0.40%	0.39%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.16%	3.08%	1.48%	4.43%	3.96%	3.93%	2.13%	2.30%	1.92%	-0.15%	0.39%
Return on Net Nonoperating Assets (RNNOA)	-0.35%	6.93%	3.71%	5.28%	9.70%	9.55%	5.57%	5.77%	5.15%	-0.43%	1.32%
Return on Equity (ROE)	-0.70%	10.01%	5.19%	9.71%	13.66%	13.48%	7.70%	8.07%	7.08%	-0.83%	1.71%
Cash Return on Invested Capital (CROIC)	0.89%	3.10%	0.76%	-195.47%	1.82%	1.84%	3.30%	-1.48%	-7.82%	-18.99%	-30.12%
Operating Return on Assets (OROA)	-0.24%	0.97%	1.48%	2.10%	1.51%	1.30%	1.32%	0.76%	1.19%	-0.35%	0.66%
Return on Assets (ROA)	0.21%	1.51%	0.78%	1.09%	1.98%	1.92%	1.17%	1.19%	1.00%	0.49%	0.23%
Return on Common Equity (ROCE)	-0.52%	7.42%	3.78%	7.06%	9.89%	9.77%	5.55%	5.82%	5.11%	-0.59%	1.23%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.33%	5.28%	7.77%	0.00%	9.52%	9.66%	8.64%	0.00%	6.47%	5.64%
Net Operating Profit after Tax (NOPAT)	-3.84	61	25	61	53	48	25	41	47	-4.41	7.53
NOPAT Margin	-7.77%	67.17%	27.22%	37.58%	62.41%	64.16%	38.34%	51.21%	41.26%	-9.85%	10.73%
Net Nonoperating Expense Percent (NNEP)	-0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.25%	0.00%
SG&A Expenses to Revenue	3.21%	1.70%	1.41%	1.20%	2.75%	2.58%	2.06%	1.64%	0.88%	6.64%	4.04%
Operating Expenses to Revenue	111.10%	57.06%	48.20%	27.54%	52.44%	56.36%	56.87%	67.19%	51.13%	115.46%	68.46%
Earnings before Interest and Taxes (EBIT)	-5.48	39	47	118	40	32	29	27	55	-6.92	22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.77	44	52	127	36	36	27	15	64	-14	22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.61	0.64	0.73	0.66	0.81	0.85	0.83	0.86	0.78	0.91	0.82
Price to Tangible Book Value (P/TBV)	0.61	0.64	0.73	0.66	0.81	0.85	0.83	0.86	0.78	0.91	0.82
Price to Revenue (P/Rev)	2.86	2.94	2.68	2.37	2.69	2.91	2.99	3.93	3.27	4.04	3.57
Price to Earnings (P/E)	0.00	0.00	17.00	8.50	7.30	8.30	7.98	9.59	9.18	15.17	17.13
Dividend Yield	18.51%	17.53%	14.91%	15.55%	12.02%	11.54%	11.96%	11.54%	12.71%	11.28%	12.83%
Earnings Yield	0.00%	0.00%	5.88%	11.76%	13.69%	12.05%	12.53%	10.43%	10.90%	6.59%	5.84%
Enterprise Value to Invested Capital (EV/IC)	0.90	0.91	0.91	0.89	0.92	0.95	0.95	0.92	0.91	0.95	0.94
Enterprise Value to Revenue (EV/Rev)	19.96	19.47	16.86	15.16	14.59	15.58	17.03	20.93	20.60	26.10	29.60
Enterprise Value to EBITDA (EV/EBITDA)	86.84	67.60	33.64	26.63	24.16	25.58	29.26	56.12	48.34	94.14	128.06
Enterprise Value to EBIT (EV/EBIT)	96.12	72.55	37.68	30.04	25.62	27.03	30.14	50.14	48.27	83.50	112.92
Enterprise Value to NOPAT (EV/NOPAT)	0.00	930.09	63.07	39.40	31.36	34.47	35.34	38.30	42.77	64.64	85.49
Enterprise Value to Operating Cash Flow (EV/OCF)	3.40	0.00	7.56	4.53	4.67	2.83	13.29	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	100.09	28.77	120.27	0.00	50.97	51.81	28.59	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.43	2.41	2.64	2.43	2.48	2.46	2.60	2.59	2.88	3.38	4.14
Long-Term Debt to Equity	2.43	2.41	2.64	2.43	2.48	2.46	2.60	2.59	2.88	3.38	4.14
Financial Leverage	2.14	2.25	2.50	1.19	2.45	2.43	2.62	2.51	2.68	2.91	3.36
Leverage Ratio	6.40	6.62	6.65	6.85	6.90	7.04	6.58	6.76	7.07	7.04	7.59
Compound Leverage Factor	6.40	6.62	6.65	6.85	6.90	7.04	6.58	6.76	7.07	6.41	5.83
Debt to Total Capital	70.83%	70.64%	72.54%	70.81%	71.24%	71.08%	72.25%	72.11%	74.24%	77.16%	80.55%
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	70.83%	70.64%	72.54%	70.81%	71.24%	71.08%	72.25%	72.11%	74.24%	77.16%	80.55%
Preferred Equity to Total Capital	8.05%	8.07%	7.70%	8.11%	7.96%	7.99%	7.75%	7.80%	7.19%	6.50%	5.65%
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	21.13%	21.29%	19.76%	21.08%	20.80%	20.92%	20.01%	20.09%	18.56%	16.34%	13.81%
Debt to EBITDA	68.24	52.70	26.71	21.11	18.70	19.15	22.31	43.85	39.23	76.09	110.06
Net Debt to EBITDA	66.63	51.38	25.46	20.05	17.62	18.65	21.74	40.84	36.86	73.15	104.89
Long-Term Debt to EBITDA	68.24	52.70	26.71	21.11	18.70	19.15	22.31	43.85	39.23	76.09	110.06
Debt to NOPAT	-65.02	725.04	50.07	31.23	24.28	25.81	26.95	29.93	34.71	52.24	73.47
Net Debt to NOPAT	-63.50	706.89	47.73	29.67	22.87	25.13	26.25	27.87	32.61	50.23	70.02
Long-Term Debt to NOPAT	-65.02	725.04	50.07	31.23	24.28	25.81	26.95	29.93	34.71	52.24	73.47
Noncontrolling Interest Sharing Ratio	25.01%	25.83%	27.06%	27.30%	27.63%	27.56%	27.97%	27.87%	27.80%	28.04%	28.46%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	130	266	-24	-6,616	-24	-15	70	-227	-675	-1,562	-2,595
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	1.48	-0.13	0.00	0.00	-0.09	0.41	0.00	0.00	-8.57	0.00
Operating Cash Flow to Interest Expense	0.00	-7.12	10.78	0.00	0.00	-2.00	1.42	0.00	0.00	-3.26	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-7.12	10.78	0.00	0.00	-2.00	1.42	0.00	0.00	-3.26	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.03	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0.02
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	6,728	6,712	7,034	6,677	6,805	6,774	6,989	6,945	7,526	8,331	9,592
Invested Capital Turnover	0.04	0.05	0.05	0.12	0.06	0.06	0.06	0.05	0.05	0.04	0.04
Increase / (Decrease) in Invested Capital	-134	-205	48	6,677	77	62	-44	268	721	1,557	2,602
Enterprise Value (EV)	6,064	6,082	6,426	5,965	6,261	6,432	6,622	6,410	6,885	7,954	8,989
Market Capitalization	869	918	1,021	932	1,153	1,201	1,161	1,204	1,094	1,232	1,085
Book Value per Share	$15.98	$16.08	$15.88	$16.22	$16.34	$16.35	$16.10	$16.06	$16.08	$15.67	$15.22
Tangible Book Value per Share	$15.98	$16.08	$15.88	$16.22	$16.34	$16.35	$16.10	$16.06	$16.08	$15.67	$15.22
Total Capital	6,728	6,712	7,034	6,677	6,805	6,774	6,989	6,945	7,526	8,331	9,592
Total Debt	4,765	4,741	5,102	4,728	4,848	4,815	5,049	5,009	5,588	6,429	7,726
Total Long-Term Debt	4,765	4,741	5,102	4,728	4,848	4,815	5,049	5,009	5,588	6,429	7,726
Net Debt	4,653	4,622	4,863	4,492	4,567	4,689	4,919	4,664	5,250	6,181	7,363
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	-8.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-14	0.00
Net Nonoperating Obligations (NNO)	4,765	4,741	5,102	4,728	4,848	4,815	5,049	5,009	5,588	6,429	7,726
Total Depreciation and Amortization (D&A)	6.25	5.05	5.23	8.92	-4.41	3.72	-1.66	-11	9.01	-6.83	-0.31
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.07)	$0.56	$0.16	$0.59	$0.49	$0.43	$0.17	$0.36	$0.41	($0.01)	($0.04)
Adjusted Weighted Average Basic Shares Outstanding	91.43M	88.83M	87.27M	86.76M	87.37M	86.69M	86.85M	86.86M	86.82M	86.91M	87.01M
Adjusted Diluted Earnings per Share	($0.07)	$0.50	$0.16	$0.51	$0.46	$0.39	$0.17	$0.36	$0.45	($0.01)	($0.04)
Adjusted Weighted Average Diluted Shares Outstanding	91.43M	113.39M	87.27M	111.09M	111.70M	111.02M	86.85M	86.86M	86.82M	86.91M	87.01M
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	88.89M	87.56M	86.76M	86.62M	86.65M	86.85M	86.86M	86.86M	86.86M	87.01M	87.02M
Normalized Net Operating Profit after Tax (NOPAT)	-3.84	27	25	61	28	23	25	19	47	-4.41	12
Normalized NOPAT Margin	-7.77%	30.06%	27.22%	37.58%	33.29%	30.55%	38.34%	22.97%	41.26%	-9.85%	16.96%
Pre Tax Income Margin	-11.10%	42.94%	51.80%	72.46%	47.56%	43.64%	43.13%	32.81%	48.87%	-14.08%	24.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.22	0.25	0.00	0.00	0.19	0.17	0.00	0.00	-0.04	0.00
NOPAT to Interest Expense	0.00	0.34	0.13	0.00	0.00	0.28	0.15	0.00	0.00	-0.02	0.00
EBIT Less CapEx to Interest Expense	0.00	0.22	0.25	0.00	0.00	0.19	0.17	0.00	0.00	-0.04	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.34	0.13	0.00	0.00	0.28	0.15	0.00	0.00	-0.02	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-293.87%	3,153.80%	194.20%	125.40%	91.38%	97.30%	96.61%	108.19%	112.51%	147.26%	172.32%
Augmented Payout Ratio	-413.93%	4,128.35%	247.94%	152.65%	105.65%	108.52%	97.40%	109.08%	112.51%	147.26%	172.32%

Financials Breakdown Chart

Key Financial Trends

PennyMac Mortgage Investment Trust (NYSE:PMT) has shown mixed financial trends over the past four years through Q2 2025. Here's a summary of key developments based on their income statements, cash flow, and balance sheets:

Q2 2025 reported consolidated net income was $7.53 million, positive on a quarterly basis despite challenges.
Total revenue was $70.2 million in Q2 2025, indicating ongoing business activity despite negative net interest income.
Total non-interest income remained a positive contributor in recent quarters, with Q2 2025 showing $78.9 million in non-interest income.
Strong cash position improvements with cash and due from banks increasing from $118.7 million in Q1 2023 to $362.9 million in Q2 2025.
Trading account securities increased overall from about $4.9 billion in Q1 2022 to $6.6 billion in Q2 2025, indicating investment activity growth.
Preferred stock consistently accounted for about $541 million of shareholder equity, showing stability in preferred equity financing.
Cash dividends per common share remained steady at $0.40 over recent quarters, signaling consistent shareholder returns policy.
Weighted average shares outstanding have remained around 87-88 million shares, indicating no major share dilution or buybacks until recent periods.
Net interest income has been negative or very low in many recent quarters, with Q2 2025 reporting -$8.7 million, pressured by interest expense and negative other interest income.
Net loss attributable to common shareholders in Q2 2025 was $2.9 million, impacted by preferred dividends exceeding net income available to common shareholders.
Net cash from continuing operating activities showed large negative swings in recent quarters, including -$2.02 billion in Q2 2025 due to significant non-cash adjustments and changes in operating assets and liabilities.
Long-term debt increased from about $4.7 billion in Q1 2023 to $7.7 billion in Q2 2025, indicating rising leverage and potential interest burden.
Retained earnings remain negative, at -$602 million in Q2 2025, showing accumulated losses or distributions in excess of income.

Summary: PennyMac has grown its asset base and investment securities, maintaining consistent dividends and preferred equity. However, the company faces ongoing challenges with negative net interest income and volatile cash flows from operations, partly offset by positive non-interest income. The rising leverage and negative retained earnings pose risks, suggesting investors should monitor earnings trends, debt levels, and cash flow improvements closely.

10/06/25 12:08 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About PennyMac Mortgage Investment Trust's Financials

When does PennyMac Mortgage Investment Trust's fiscal year end?

According to the most recent income statement we have on file, PennyMac Mortgage Investment Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has PennyMac Mortgage Investment Trust's net income changed over the last 10 years?

PennyMac Mortgage Investment Trust's net income appears to be on a downward trend, with a most recent value of $160.98 million in 2024, falling from $194.54 million in 2014. The previous period was $199.65 million in 2023. See where experts think PennyMac Mortgage Investment Trust is headed by visiting PennyMac Mortgage Investment Trust's forecast page.

How has PennyMac Mortgage Investment Trust's revenue changed over the last 10 years?

Over the last 10 years, PennyMac Mortgage Investment Trust's total revenue changed from $356.74 million in 2014 to $334.19 million in 2024, a change of -6.3%.

How much debt does PennyMac Mortgage Investment Trust have?

PennyMac Mortgage Investment Trust's total liabilities were at $12.47 billion at the end of 2024, a 11.8% increase from 2023, and a 275.7% increase since 2014.

How much cash does PennyMac Mortgage Investment Trust have?

In the past 10 years, PennyMac Mortgage Investment Trust's cash and equivalents has ranged from $34.48 million in 2016 to $337.69 million in 2024, and is currently $337.69 million as of their latest financial filing in 2024.

How has PennyMac Mortgage Investment Trust's book value per share changed over the last 10 years?

Over the last 10 years, PennyMac Mortgage Investment Trust's book value per share changed from 21.29 in 2014 to 16.08 in 2024, a change of -24.4%.

Related Companies

This page (NYSE:PMT) was last updated on 10/5/2025 by MarketBeat.com Staff

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PennyMac Mortgage Investment Trust (PMT) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About PennyMac Mortgage Investment Trust's Financials

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PennyMac Mortgage Investment Trust (PMT) Financials

Annual Income Statements for PennyMac Mortgage Investment Trust

Quarterly Income Statements for PennyMac Mortgage Investment Trust

Annual Cash Flow Statements for PennyMac Mortgage Investment Trust

Quarterly Cash Flow Statements for PennyMac Mortgage Investment Trust

Annual Balance Sheets for PennyMac Mortgage Investment Trust

Quarterly Balance Sheets for PennyMac Mortgage Investment Trust

Annual Metrics And Ratios for PennyMac Mortgage Investment Trust

Quarterly Metrics And Ratios for PennyMac Mortgage Investment Trust

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About PennyMac Mortgage Investment Trust's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

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