NYSE : PMT
PennyMac Mortgage Investment Trust — Financial statements
Real Estate · REIT - Mortgage · United States
Last price 7.38 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 643.55M
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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 | 1.14B | 851.15M | 635.49M | 640.38M | 385.15M | 195.96M |
| Total Interest Expense | 1.21B | 870.39M | 714.66M | 735.97M | 410.42M | 304.74M |
| Net Interest Income | -67.10M | -19.24M | -79.17M | -95.59M | -25.27M | -108.78M |
| Mortgage Banking | 8.47M | 12.53M | 15.09M | 18.23M | 52.09M | 170.67M |
| Gain (Loss) on Sale of Loans & Receivables | 50.39M | 52.19M | 73.12M | 39.86M | 25.69M | 87.27M |
| Gain (Loss) on Sale of Investments | -109.73M | 213.11M | 61.05M | 178.10M | -658.79M | 304.08M |
| Other Revenue | -205.71M | -173.00M | -227.04M | -92.96M | -204.38M | -341.97M |
| Revenue Before Loan Losses | 293.80M | 721.17M | 504.60M | 725.87M | -145.66M | 757.48M |
| Revenue | 293.80M | 721.17M | 504.60M | 725.87M | -145.66M | 757.48M |
| Salaries & Employee Benefits | 12.63M | 11.89M | 5.61M | 7.11M | 5.94M | 4.00M |
| Cost of Services Provided | 192.56M | 188.85M | 165.51M | 158.49M | 216.17M | 357.69M |
| Other Operating Expenses | 27.78M | 426.61M | 190.84M | 315.88M | -430.87M | 351.13M |
| Total Operating Expenses | 232.97M | 627.35M | 361.95M | 481.47M | -208.75M | 712.82M |
| Operating Income | 60.83M | 93.82M | 142.65M | 244.40M | 63.09M | 44.66M |
| EBT Excluding Unusual Items | 63.83M | 93.82M | 142.65M | 244.40M | 63.09M | 44.66M |
| Pretax Income | 63.83M | 93.82M | 142.65M | 244.40M | 63.09M | 44.66M |
| Income Tax Expense | -19.07M | -34.05M | -18.34M | 44.74M | 136.37M | -12.19M |
| Net Income | 82.90M | 127.87M | 160.98M | 199.65M | -73.29M | 56.85M |
| Preferred Dividends & Other Adjustments | 41.09M | 41.97M | 42.24M | 42.27M | 42.23M | 31.21M |
| Net Income to Common | 41.80M | 85.91M | 118.75M | 157.38M | -115.51M | 25.64M |
| Shares Outstanding (Basic) | 87.12M | 86.99M | 86.81M | 87.37M | 91.43M | 97.40M |
| Shares Outstanding (Diluted) | 87.12M | 86.99M | 86.81M | 111.70M | 91.43M | 97.40M |
| EPS (Basic) | 0.48 | 0.99 | 1.37 | 1.80 | -1.26 | 0.26 |
| EPS (Diluted) | 0.48 | 0.99 | 1.37 | 1.63 | -1.26 | 0.26 |
| Dividend Per Share | 1.60 | 1.60 | 1.60 | 1.60 | 1.81 | 1.88 |
| Operating Margin | 20.70% | 13.01% | 28.27% | 33.67% | 5.90% | |
| Profit Margin | 14.23% | 11.91% | 23.53% | 21.68% | 3.39% | |
| Effective Tax Rate | 18.31% | 216.17% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 161.00M | 271.97M | 337.69M | 281.08M | 111.87M | 58.98M |
| Long-Term Investments | 4.46B | 190.52M | 103.20M | 128.34M | 252.27M | 168.00M |
| Trading Asset Securities | 59.00M | 55.94M | 56.84M | 177.98M | 84.94M | 34.24M |
| Loans & Lease Receivables | 14.40B | 8.54B | 2.20B | 1.44B | 1.52B | 1.60B |
| Other Receivables | 126.83M | 82.20M | 59.16M | 57.97M | 63.18M | |
| Other Intangible Assets | 3.51B | 3.64B | 3.87B | 3.92B | 4.01B | 2.89B |
| Other Current Assets | 949.00M | 1.33B | 1.56B | 1.54B | 1.58B | 2.12B |
| Other Long-Term Assets | 444.00M | 4.49B | 4.08B | 4.89B | 4.48B | 2.67B |
| Total Assets | 26.85B | 21.35B | 14.41B | 13.11B | 13.92B | 13.77B |
| Accounts Payable | 132.82M | 132.74M | 350.88M | 155.87M | 92.45M | |
| Accrued Expenses | 52.80M | 36.59M | 33.37M | 40.72M | 43.79M | |
| Short-Term Debt | 28.00M | 9.19M | 18.94M | 51.38M | 167.23M | 92.19M |
| Current Portion of Long-Term Debt | 8.38B | 9.29B | 6.50B | 5.62B | 6.62B | 6.67B |
| Long-Term Debt | 16.37B | 9.84B | 5.61B | 4.88B | 4.79B | 4.46B |
| Current Income Taxes Payable | 127.48M | 163.86M | 190.00M | 151.78M | 9.60M | |
| Other Long-Term Liabilities | 291.00M | 5.28M | 6.89M | 26.14M | 39.47M | 40.25M |
| Total Liabilities | 25.07B | 19.46B | 12.47B | 11.16B | 11.96B | 11.41B |
| Common Stock | 1.00M | 870.00K | 869.00K | 866.00K | 889.00K | 949.00K |
| Additional Paid-In Capital | 1.93B | 1.93B | 1.93B | 1.92B | 1.95B | 2.08B |
| Retained Earnings | -689.00M | -582.83M | -528.92M | -508.69M | -526.82M | -256.67M |
| Total Common Equity | 1.24B | 1.35B | 1.40B | 1.42B | 1.42B | 1.83B |
| Shareholders' Equity | 1.78B | 1.89B | 1.94B | 1.96B | 1.96B | 2.37B |
| Total Liabilities & Equity | 26.85B | 21.35B | 14.41B | 13.11B | 13.92B | 13.77B |
| Total Debt | 24.78B | 19.14B | 12.13B | 10.56B | 11.57B | 11.22B |
| Net Cash (Debt) | -24.56B | -18.81B | -11.74B | -10.10B | -11.37B | -11.13B |
| Net Cash Per Share | -281.89 | -216.27 | -135.18 | -90.40 | -124.40 | -114.23 |
| Filing Date Shares Outstanding | 87.20M | 87.02M | 86.86M | 86.65M | 88.89M | 97.37M |
| Total Common Shares Outstanding | 87.20M | 87.02M | 86.86M | 86.62M | 88.89M | 94.90M |
| Working Capital | 10.03B | 3.41B | -498.06M | -2.08B | -1.95B | 1.13B |
| Book Value Per Share | 14.24 | 15.47 | 16.08 | 16.34 | 15.99 | 19.24 |
| Tangible Book Value | 1.24B | 1.35B | 1.40B | 1.42B | 1.42B | 1.83B |
| Tangible Book Value Per Share | 14.24 | 15.47 | 16.08 | 16.34 | 15.99 | 19.24 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 127.87M | 160.98M | 199.65M | -73.29M | 56.85M | |
| Other Amortization | 20.17M | 23.09M | 15.14M | 16.56M | 27.16M | |
| Gain on Sale of Loans & Receivables | -52.19M | -73.12M | -39.86M | -25.69M | -87.27M | |
| Loss (Gain) From Sale of Investments | -244.70M | -84.36M | -178.45M | 648.97M | -294.28M | |
| Stock-Based Compensation | 3.87M | 3.48M | 5.21M | 4.31M | 2.42M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -7.61B | -2.38B | 815.46M | 1.42B | -2.70B | |
| Change in Accounts Payable | 28.78M | -216.12M | 194.06M | 73.16M | -27.32M | |
| Change in Income Taxes | -36.38M | -26.14M | 38.23M | 142.18M | -13.96M | |
| Change in Other Net Operating Assets | -39.12M | -510.82M | -99.07M | -173.90M | -456.11M | |
| Other Operating Activities | 586.70M | 397.45M | 389.81M | -245.05M | 677.62M | |
| Operating Cash Flow | -7.21B | -2.70B | 1.34B | 1.78B | -2.82B | |
| Cash Acquisitions | -28.82M | |||||
| Sale (Purchase) of Intangibles | -29.26M | -14.63M | ||||
| Investment in Securities | -87.32M | 25.14M | 123.93M | -84.27M | -40.70M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 652.65M | 101.65M | 94.43M | 159.65M | 122.26M | |
| Other Investing Activities | -135.66M | 1.26B | -225.46M | -1.94B | 1.04B | |
| Investing Cash Flow | 429.67M | 1.36B | -21.73M | -1.87B | 1.09B | |
| Short-Term Debt Issued | 102.11B | 124.10B | 122.71B | 124.76B | 197.90B | |
| Long-Term Debt Issued | 7.10B | 2.48B | 833.50M | 1.33B | 3.06B | |
| Total Debt Issued | 109.21B | 126.58B | 123.55B | 126.09B | 200.96B | |
| Short-Term Debt Repaid | -100.60B | -123.20B | -123.70B | -124.87B | -197.59B | |
| Long-Term Debt Repaid | -1.69B | -1.76B | -766.44M | -767.60M | -1.59B | |
| Total Debt Repaid | -102.29B | -124.97B | -124.47B | -125.63B | -199.18B | |
| Net Debt Issued (Repaid) | 6.92B | 1.61B | -923.77M | 453.94M | 1.78B | |
| Issuance of Preferred Stock | 250.00M | |||||
| Repurchase of Common Stock | -1.13M | -1.85M | -29.06M | -88.51M | -57.59M | |
| Common Dividends Paid | -139.37M | -139.30M | -140.62M | -173.55M | -183.97M | |
| Preferred Dividends Paid | -41.82M | -41.82M | -41.82M | -41.82M | -30.15M | |
| Total Dividends Paid | -181.19M | -181.12M | -182.44M | -215.37M | -214.12M | |
| Other Financing Activities | -15.94M | -31.45M | -13.97M | -14.17M | -29.24M | |
| Financing Cash Flow | 6.72B | 1.40B | -1.15B | 135.89M | 1.73B | |
| Net Cash Flow | -65.72M | 56.61M | 169.22M | 52.88M | 1.28M | |
| Cash Interest Paid | 850.62M | 711.69M | 718.36M | 368.67M | 298.86M | |
| Cash Income Tax Paid | 2.33M | 7.81M | 6.52M | -5.81M | 1.77M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 651.40M | 1.09B | 1.09B | 1.30B | 1.10B | 1.68B |
| PE Ratio | 15.60 | 12.71 | 9.21 | 8.23 | 65.55 | |
| PS Ratio | 2.22 | 1.51 | 2.17 | 1.78 | -7.56 | 2.22 |
| PB Ratio | 0.52 | 0.58 | 0.56 | 0.66 | 0.56 | 0.71 |
| P/OCF Ratio | 0.97 | 0.62 | ||||
| Debt / Equity Ratio | 13.90 | 10.14 | 6.26 | 5.39 | 5.89 | 4.74 |
| Net Debt / Equity Ratio | 13.78 | 9.97 | 6.05 | 5.16 | 5.79 | 4.70 |
| Quick Ratio | 1.74 | 0.94 | 0.39 | 0.31 | 0.25 | 0.25 |
| Current Ratio | 2.19 | 1.35 | 0.93 | 0.67 | 0.73 | 1.16 |
| Asset Turnover | 0.01 | 0.04 | 0.04 | 0.05 | 0.06 | |
| Return on Equity (ROE) | 4.53% | 6.69% | 8.27% | 10.19% | -3.38% | 2.44% |
| Return on Assets (ROA) | 0.36% | 0.71% | 1.17% | 1.48% | -0.53% | 0.45% |
| Return on Invested Capital (ROIC) | 0.24% | 0.53% | 1.07% | 1.53% | -0.54% | 0.36% |
| Earnings Yield | 6.41% | 11.71% | 14.72% | 15.42% | -6.65% | 3.38% |
| Dividend Yield | 21.42% | 12.75% | 12.71% | 10.70% | 14.60% | 10.61% |
| Payout Ratio | 334.20% | 141.69% | 112.51% | 91.38% | 376.61% | |
| Buyback Yield / Dilution | -0.20% | -0.20% | 22.28% | -22.17% | 6.13% | 1.98% |
| Total Shareholder Return | 21.22% | 12.55% | 34.99% | -11.46% | 20.73% | 12.60% |