Stocks PMTU Financial statements
Financial statementsPennyMac Mortgage Investment Trust financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PennyMac Mortgage Investment Trust files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 272 | 318 | 351 | 489 | 469 | 420 | 304 | 429 | 334 | 307 |
| Operating expenses | 210 | 193 | 193 | 298 | 390 | 376 | 241 | 185 | 192 | 214 |
| Interest expense | 150 | 151 | 175 | 297 | 271 | 305 | 410 | 736 | ||
| Pre-tax income | 61.8 | 125 | 158 | 191 | 79.7 | 44.7 | 63.1 | 244 | 143 | 93.8 |
| Income tax | -14 | 6.8 | 5.19 | -35.7 | 27.4 | -12.2 | 136 | 44.7 | -18.3 | -34.1 |
| Net income | 75.8 | 118 | 153 | 226 | 52.4 | 56.9 | -73.3 | 200 | 161 | 128 |
| EPS, basic | 1.09 | 1.53 | 2.09 | 2.54 | 0.27 | 0.26 | -1.26 | 1.80 | 1.37 | 0.99 |
| EPS, diluted | 1.08 | 1.48 | 1.99 | 2.42 | 0.27 | 0.26 | -1.26 | 1.63 | 1.37 | 0.99 |
| Shares, basic (weighted) | 68.6 | 66.1 | 60.9 | 79 | 99.4 | 97.4 | 91.4 | 87.4 | 86.8 | 87 |
| Shares, diluted (weighted) | 77.1 | 74.6 | 69.4 | 87.7 | 99.4 | 97.4 | 91.4 | 112 | 86.8 | 87 |
| Dividend per share | 1.81 | 1.60 | 1.60 | 1.60 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 34.5 | 77.6 | 59.8 | 104 | 57.7 | 59 | 112 | 281 | 338 | 272 |
| Short-term investments | 122 | 18.4 | 74.9 | 90.8 | 127 | 168 | 252 | 128 | 103 | 191 |
| Intangible assets | 606 | 773 | ||||||||
| Total assets | 6,358 | 5,605 | 7,813 | 11,771 | 11,492 | 13,773 | 13,922 | 13,114 | 14,409 | 21,347 |
| Short-term debt | 3,269 | 5,082 | 7,006 | |||||||
| Total liabilities | 5,006 | 4,060 | 6,247 | 9,320 | 9,195 | 11,405 | 11,959 | 11,157 | 12,470 | 19,460 |
| Total debt | 662 | 1,011 | 2,159 | 4,488 | 5,071 | 5,149 | 1,008 | 1,094 | ||
| Paid-in capital | 1,377 | 1,291 | 1,286 | 2,128 | 50.3 | 50.3 | 1,947 | 1,923 | 1,925 | 1,928 |
| Retained earnings | -26.7 | -46.7 | -19.7 | 22.3 | -101 | -257 | -527 | -509 | -529 | -583 |
| Shareholders' equity | 1,351 | 1,545 | 1,566 | 2,451 | 2,297 | 2,368 | 1,963 | 1,957 | 1,939 | 1,887 |
| Total equity | 1,351 | 1,545 | 1,566 | 2,451 | 2,297 | 2,368 | 1,963 | 1,957 | 1,939 | 1,887 |
| Total liabilities and equity | 6,358 | 5,605 | 7,813 | 11,771 | 11,492 | 13,773 | 13,922 | 13,114 | 14,409 | 21,347 |
| Shares outstanding | 66.7 | 61.3 | 61 | 100 | 97.9 | 94.9 | 88.9 | 86.6 | 86.9 | 87 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 75.8 | 118 | 153 | 226 | 52.4 | 56.9 | -73.3 | 200 | 161 | 128 |
| Stock-based compensation | 5.75 | 4.9 | 5.32 | 5.53 | 2.29 | 2.42 | 4.31 | 5.21 | 3.48 | 3.87 |
| Deferred income tax | -14.5 | 6.49 | 5.17 | -35.6 | 27.3 | -12.2 | 136 | 44.7 | -19.4 | -39.3 |
| Change in payables | 46.7 | -40.4 | 6.4 | 3.61 | 34.8 | -27.3 | 73.2 | 194 | -216 | 28.8 |
| Cash from operations | -622 | 223 | -574 | -2,985 | 672 | -2,820 | 1,784 | 1,340 | -2,703 | -7,213 |
| Purchases of investments | -765 | -252 | -1,811 | -1,250 | -2,332 | |||||
| Cash from investing | 194 | 682 | -1,424 | -705 | -15.4 | 1,093 | -1,867 | -21.7 | 1,360 | 430 |
| Debt issued | 0 | 0 | 210 | 0 | 345 | 0 | ||||
| Stock issued | 0 | 0 | 0 | 840 | 5.65 | 0 | 0 | |||
| Share buybacks | -98.4 | -91.2 | -10.7 | 0 | -37.3 | -56.9 | -88 | -28.5 | 0 | 0 |
| Dividends paid | -132 | -126 | -116 | -141 | -152 | -184 | -174 | -141 | -139 | -139 |
| Cash from financing | 404 | -862 | 1,980 | 3,734 | -703 | 1,728 | 136 | -1,149 | 1,399 | 6,718 |
| Net change in cash | -23.6 | 43.2 | -17.8 | 44.2 | -46.4 | 1.28 | 52.9 | 169 | 56.6 | -65.7 |
| Interest paid | 158 | 152 | 170 | 299 | 290 | 299 | 369 | 718 | 712 | 851 |
| Income taxes paid | 1.29 | -2.35 | 1.33 | -1.01 | 5.61 | 1.77 | -5.81 | 6.52 | 7.81 | 2.33 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 36.5% | Pre-tax income / revenue. |
| Net margin | 47.8% | Net income / revenue. |
| Operating cash flow margin | -2,897.0% | Cash from operations / revenue. |
| Effective tax rate | -31.0% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 9.0% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.7% | Net income / average total assets. |
| Stock-based pay / revenue | 1.4% | Stock-based compensation (from the cash flow statement) / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -8.0% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 0.4% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | -8.1% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -20.6% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 5y | 19.5% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | -27.7% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 5y | 29.7% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 0.0% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | -4.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value growth, 1y | -2.6% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -1.3% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | -3.9% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 48.2% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 15.3% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 13.2% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | 0.2% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -1.6% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | -2.6% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Debt / equity | 0.39x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 2.9% | Total debt / total assets. |
| Liabilities / assets | 92.6% | Total liabilities / total assets. |
| Net debt | $299.2M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Tangible book value | $1.85B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.01x | Revenue / average total assets. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $1.90 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $3.98 | Revenue / diluted weighted shares. |
| Operating cash flow per share | -$115.39 | Cash from operations / diluted weighted shares. |
| Book value per share | $21.25 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $21.25 | Tangible book value / shares outstanding. |
| Cash per share | $4.83 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 83.9% | Dividends paid / net income, when net income is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $2.20B | Share price x shares outstanding. |
| Enterprise value | $2.49B | Market cap + total debt - cash - short-term investments. |
| P/E | 13.2x | Market cap / net income. Only when net income is positive. |
| P/S | 6.32x | Market cap / revenue. |
| P/B | 1.18x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.18x | Market cap / tangible book value, when positive. |
| EV/Sales | 7.18x | Enterprise value / revenue. |
| Earnings yield | 7.6% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 6.3% | Dividends paid over the period / market cap. |
| Shareholder yield | 6.3% | (Dividends paid + share buybacks) / market cap. |
What was PennyMac Mortgage Investment Trust's revenue in fiscal 2025?
PennyMac Mortgage Investment Trust reported revenue of $307.5M for fiscal 2025, 8% lower than the year before.
Was PennyMac Mortgage Investment Trust profitable in fiscal 2025?
Yes. Net income was $127.9M, a net margin of 41.6%.