NYSE : PFSI
PennyMac Financial Services, Inc. — Financial statements
Financials · Mortgage Finance · United States
Last price 64.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.35B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 924.52M | 924.45M | 793.57M | 632.92M | 294.06M | 300.17M |
| Total Interest Expense | 1.04B | 960.55M | 819.35M | 637.78M | 335.43M | 390.70M |
| Net Interest Income | -112.90M | -36.11M | -25.78M | -4.85M | -41.37M | -90.53M |
| Mortgage Banking | 257.40M | 235.84M | 185.70M | 146.12M | 169.86M | 384.15M |
| Gain (Loss) on Sale of Loans & Receivables | 1.12B | 1.07B | 817.37M | 545.94M | 791.63M | 2.46B |
| Gain (Loss) on Sale of Investments | 17.00K | 117.00K | -57.00K | 312.00K | -235.00K | 336.00K |
| Other Revenue | -1.60B | 100.46M | -779.32M | -195.55M | -551.10M | -288.96M |
| Revenue Before Loan Losses | 1.84B | 3.46B | 2.03B | 2.01B | 1.63B | 3.58B |
| Revenue | 1.84B | 3.46B | 2.03B | 2.01B | 1.63B | 3.58B |
| Salaries & Employee Benefits | 860.29M | 782.92M | 632.74M | 576.96M | 735.23M | 999.80M |
| Cost of Services Provided | 810.62M | 652.06M | 512.35M | 441.75M | 533.36M | 756.22M |
| Other Operating Expenses | -146.97M | 1.47B | 478.36M | 640.52M | -309.41M | 466.38M |
| Total Operating Expenses | 1.52B | 2.91B | 1.62B | 1.66B | 959.17M | 2.22B |
| Operating Income | 312.84M | 554.87M | 402.56M | 346.45M | 669.32M | 1.36B |
| EBT Excluding Unusual Items | 313.88M | 556.01M | 402.76M | 346.45M | 669.90M | 1.36B |
| Pretax Income | 313.62M | 551.42M | 401.03M | 183.63M | 665.25M | 1.36B |
| Income Tax Expense | 73.74M | 50.34M | 89.60M | 38.98M | 189.74M | 355.69M |
| Earnings From Continuing Ops. | 239.88M | 501.08M | 311.42M | 144.66M | 475.51M | 1.00B |
| Net Income | 239.88M | 501.08M | 311.42M | 144.66M | 475.51M | 1.00B |
| Net Income to Common | 239.88M | 501.08M | 311.42M | 144.66M | 475.51M | 1.00B |
| Shares Outstanding (Basic) | 52.02M | 51.73M | 50.99M | 49.98M | 53.06M | 63.80M |
| Shares Outstanding (Diluted) | 53.63M | 53.88M | 53.36M | 52.73M | 55.95M | 67.47M |
| EPS (Basic) | 4.61 | 9.69 | 6.11 | 2.89 | 8.96 | 15.73 |
| EPS (Diluted) | 4.46 | 9.30 | 5.84 | 2.74 | 8.50 | 14.87 |
| Free Cash Flow | -1.66B | -4.53B | -1.58B | 6.03B | 2.56B | |
| Free Cash Flow Per Share | -30.88 | -85.00 | -30.03 | 107.70 | 37.87 | |
| Dividend Per Share | 1.20 | 1.20 | 1.10 | 0.80 | 0.80 | 0.80 |
| Operating Margin | 17.03% | 16.03% | 19.87% | 17.27% | 41.10% | 37.96% |
| Profit Margin | 13.06% | 14.47% | 15.37% | 7.21% | 29.20% | 28.01% |
| Free Cash Flow Margin | -48.06% | -223.84% | -78.96% | 370.04% | 71.33% | |
| Effective Tax Rate | 23.51% | 9.13% | 22.34% | 21.22% | 28.52% | 26.17% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 233.00M | 301.68M | 238.48M | 938.37M | 1.33B | 340.07M |
| Long-Term Investments | 928.00M | 410.98M | 421.50M | 11.39M | 13.12M | 8.17M |
| Trading Asset Securities | 491.00M | 187.78M | 113.08M | 179.08M | 99.00M | 333.69M |
| Loans & Lease Receivables | 8.23B | 7.41B | 6.16B | 4.89B | 4.70B | 3.03B |
| Other Receivables | 138.71M | 160.72M | 126.65M | 105.25M | 48.33M | |
| Property, Plant & Equipment | 79.55M | 49.49M | 68.94M | 94.25M | 120.72M | |
| Other Intangible Assets | 11.64B | 9.71B | 8.87B | 7.25B | 6.11B | 3.99B |
| Restricted Cash | 24.00K | |||||
| Other Current Assets | 604.00M | 1.06B | 922.63M | 886.99M | 815.23M | 919.63M |
| Other Long-Term Assets | 892.00M | 968.57M | 941.02M | 74.44M | 44.72M | 249.72M |
| Total Assets | 29.91B | 29.39B | 26.09B | 18.84B | 16.82B | 18.78B |
| Accounts Payable | 568.79M | 354.41M | 449.90M | 347.91M | 359.41M | |
| Short-Term Debt | 16.99B | 16.92B | 15.38B | 9.15B | 8.01B | 10.82B |
| Current Portion of Leases | 17.44M | 3.49M | ||||
| Long-Term Debt | 6.48B | 6.16B | 5.21B | 4.39B | 3.72B | 3.07B |
| Long-Term Leases | 57.66M | 110.00M | ||||
| Current Income Taxes Payable | 1.23B | 77.00K | -45.00K | 1.23M | -1.99M | -126.54M |
| Long-Term Deferred Tax Liabilities | 1.18B | 1.13B | 1.04B | 1.00B | 811.80M | |
| Other Long-Term Liabilities | 853.00M | 177.81M | 179.03M | 266.90M | 265.63M | 304.89M |
| Total Liabilities | 25.55B | 25.08B | 22.26B | 15.31B | 13.35B | 15.36B |
| Common Stock | 4.36B | 5.00K | 5.00K | 5.00K | 5.00K | 6.00K |
| Additional Paid-In Capital | 96.87M | 56.07M | 24.29M | 125.40M | ||
| Retained Earnings | 4.21B | 3.77B | 3.51B | 3.47B | 3.29B | |
| Total Common Equity | 4.36B | 4.31B | 3.83B | 3.54B | 3.47B | 3.42B |
| Shareholders' Equity | 4.36B | 4.31B | 3.83B | 3.54B | 3.47B | 3.42B |
| Total Liabilities & Equity | 29.91B | 29.39B | 26.09B | 18.84B | 16.82B | 18.78B |
| Total Debt | 23.47B | 23.15B | 20.59B | 13.55B | 11.74B | 14.01B |
| Net Cash (Debt) | -22.75B | -22.66B | -20.24B | -12.43B | -10.31B | -13.33B |
| Net Cash Per Share | -424.18 | -420.54 | -379.36 | -235.69 | -184.23 | -197.64 |
| Filing Date Shares Outstanding | 52.00M | 52.17M | 51.43M | 50.43M | 50.03M | 55.42M |
| Total Common Shares Outstanding | 52.00M | 52.06M | 51.38M | 50.18M | 49.99M | 56.87M |
| Working Capital | -1.77B | 719.98M | 75.39M | 1.84B | 2.20B | 3.35B |
| Book Value Per Share | 83.79 | 82.77 | 74.54 | 70.52 | 69.44 | 60.11 |
| Tangible Book Value | 4.36B | 4.20B | 3.71B | 3.39B | 3.31B | 3.31B |
| Tangible Book Value Per Share | 83.79 | 80.69 | 72.19 | 67.56 | 66.29 | 58.19 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 501.08M | 311.42M | 144.66M | 475.51M | 1.00B | |
| Depreciation & Amortization | 22.01M | 21.49M | 26.56M | 26.29M | 22.73M | |
| Other Amortization | 80.10M | 76.98M | 64.89M | 43.15M | 44.53M | |
| Gain on Sale of Loans & Receivables | -1.07B | -817.37M | -545.94M | -791.63M | -2.46B | |
| Loss (Gain) From Sale of Investments | 3.00K | 177.00K | -192.00K | 371.00K | -195.00K | |
| Asset Writedown & Restructuring Costs | 4.60M | 147.00K | 46.00K | 728.00K | ||
| Stock-Based Compensation | 36.23M | 20.87M | 27.58M | 42.55M | 37.79M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -2.65B | -5.27B | -2.19B | 5.68B | 3.10B | |
| Change in Accounts Payable | 262.85M | -78.65M | 121.68M | -109.48M | 34.67M | |
| Change in Income Taxes | 53.02M | 88.11M | 40.14M | 317.48M | 62.56M | |
| Change in Other Net Operating Assets | -326.75M | -219.00M | -150.58M | 97.67M | -119.86M | |
| Other Operating Activities | 1.43B | 1.34B | 878.95M | 254.68M | 838.88M | |
| Operating Cash Flow | -1.65B | -4.53B | -1.58B | 6.03B | 2.56B | |
| Capital Expenditures | -11.92M | -1.72M | -1.39M | -7.16M | -7.90M | |
| Sale of Property, Plant & Equipment | 1.00M | |||||
| Sale (Purchase) of Intangibles | 575.95M | -20.38M | -34.78M | -75.93M | -48.98M | |
| Investment in Securities | 203.65M | -1.05B | 99.99M | -5.32M | 8.34M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 80.86M | |||||
| Other Investing Activities | -215.18M | -818.92M | -338.11M | -633.17M | -336.70M | |
| Investing Cash Flow | 552.49M | -1.89B | -273.29M | -721.58M | -304.37M | |
| Short-Term Debt Issued | 170.26B | 132.15B | 107.59B | 94.39B | 159.96B | |
| Long-Term Debt Issued | 2.92B | 1.70B | 1.75B | 650.00M | 1.15B | |
| Total Debt Issued | 173.18B | 133.85B | 109.34B | 95.04B | 161.11B | |
| Short-Term Debt Repaid | -169.95B | -127.18B | -106.66B | -98.87B | -162.37B | |
| Long-Term Debt Repaid | -1.95B | -875.00M | -1.07B | -3.49M | -143.00M | |
| Total Debt Repaid | -171.90B | -128.06B | -107.74B | -98.88B | -162.52B | |
| Net Debt Issued (Repaid) | 1.28B | 5.80B | 1.60B | -3.84B | -1.40B | |
| Issuance of Common Stock | 12.84M | 20.06M | 17.21M | 2.95M | 7.54M | |
| Repurchase of Common Stock | -8.50M | -9.40M | -80.63M | -413.87M | -967.19M | |
| Common Dividends Paid | -62.55M | -52.16M | -41.45M | -54.62M | -52.90M | |
| Other Financing Activities | -60.04M | -35.92M | -33.02M | -19.61M | -37.57M | |
| Financing Cash Flow | 1.16B | 5.72B | 1.47B | -4.32B | -2.45B | |
| Net Cash Flow | 63.20M | -699.89M | -390.17M | 988.45M | -192.69M | |
| Free Cash Flow | -1.66B | -4.53B | -1.58B | 6.03B | 2.56B | |
| Free Cash Flow Margin | -48.06% | -223.84% | -78.96% | 370.04% | 71.33% | |
| Free Cash Flow Per Share | -30.88 | -85.00 | -30.03 | 107.70 | 37.87 | |
| Cash Interest Paid | 955.70M | 797.21M | 639.49M | 329.98M | 389.53M | |
| Cash Income Tax Paid | -2.68M | 1.49M | -1.17M | -127.74M | 293.13M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.27B | 6.85B | 5.24B | 4.41B | 2.84B | 4.12B |
| PE Ratio | 14.11 | 13.67 | 16.81 | 30.50 | 5.97 | 4.11 |
| PS Ratio | 1.78 | 1.98 | 2.58 | 2.20 | 1.74 | 1.15 |
| PB Ratio | 0.75 | 1.59 | 1.37 | 1.25 | 0.82 | 1.21 |
| P/FCF Ratio | 0.47 | 1.61 | ||||
| P/OCF Ratio | 0.47 | 1.61 | ||||
| Debt / Equity Ratio | 5.39 | 5.37 | 5.38 | 3.83 | 3.38 | 4.10 |
| Debt / FCF Ratio | 1.95 | 5.48 | ||||
| Net Debt / Equity Ratio | 5.22 | 5.26 | 5.29 | 3.51 | 2.97 | 3.90 |
| Net Debt / FCF Ratio | -13.62 | -4.46 | -7.85 | 1.71 | 5.22 | |
| Quick Ratio | 0.49 | 0.46 | 0.42 | 0.64 | 0.75 | 0.34 |
| Current Ratio | 0.90 | 1.04 | 1.00 | 1.19 | 1.26 | 1.30 |
| Asset Turnover | 0.07 | 0.12 | 0.09 | 0.11 | 0.09 | 0.14 |
| Return on Equity (ROE) | 5.60% | 12.31% | 8.45% | 4.13% | 13.80% | 29.48% |
| Return on Assets (ROA) | 0.87% | 1.81% | 1.39% | 0.81% | 2.67% | 3.98% |
| Return on Invested Capital (ROIC) | 0.85% | 1.94% | 1.51% | 1.69% | 2.93% | 4.20% |
| Earnings Yield | 7.09% | 7.31% | 5.95% | 3.28% | 16.76% | 24.36% |
| FCF Yield | -55.11% | -24.29% | -86.62% | -35.89% | 212.36% | 62.03% |
| Dividend Yield | 1.91% | 0.91% | 1.08% | 0.91% | 1.41% | 1.10% |
| Payout Ratio | 26.91% | 12.48% | 16.75% | 28.65% | 11.49% | 5.27% |
| Buyback Yield / Dilution | 0.13% | -0.99% | -1.18% | 5.75% | 17.08% | 14.30% |
| Total Shareholder Return | 2.04% | -0.07% | -0.10% | 6.66% | 18.48% | 15.40% |