Pennymac Mortg Financials

PMT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Pennymac Mortg passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-16.79x

For every $1 of reported earnings, Pennymac Mortg generates $-16.79 in operating cash flow (-$2.7B OCF vs $161.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Pennymac Mortg (PMT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$334.2M

YoY-22.1%

5Y CAGR-7.3%

10Y CAGR-0.7%

Pennymac Mortg generated $334.2M in revenue in fiscal year 2024. This represents a decrease of 22.1% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$161.0M

YoY-19.4%

5Y CAGR-6.6%

10Y CAGR-1.9%

Pennymac Mortg reported $161.0M in net income in fiscal year 2024. This represents a decrease of 19.4% from the prior year.

EPS (Diluted)

$1.37

YoY-16.0%

5Y CAGR-10.8%

10Y CAGR-5.7%

Pennymac Mortg earned $1.37 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 16.0% from the prior year.

Cash & Debt

$337.7M

YoY+20.1%

5Y CAGR+26.5%

10Y CAGR+16.0%

Pennymac Mortg held $337.7M in cash against $1.0B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.60

YoY+0.0%

10Y CAGR-4.0%

Pennymac Mortg paid $1.60 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

87M

YoY+0.3%

5Y CAGR-2.8%

10Y CAGR+1.5%

Pennymac Mortg had 87M shares outstanding in fiscal year 2024. This represents an increase of 0.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

48.2%

YoY+1.6pp

5Y CAGR+1.9pp

10Y CAGR-6.4pp

Pennymac Mortg's net profit margin was 48.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.6 percentage points from the prior year.

Return on Equity

8.3%

YoY-1.9pp

5Y CAGR-0.9pp

10Y CAGR-4.0pp

Pennymac Mortg's ROE was 8.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.9 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Pennymac Mortg spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

PMT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$334.2M-22.1%	$429.0M+41.2%	$303.8M-27.7%	$420.3M-10.5%	$469.4M-4.0%	$488.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$714.7M-2.9%	$736.0M+79.3%	$410.4M+34.7%	$304.7M+12.5%	$270.8M-9.0%	$297.4M
Income Tax	-$18.3M-141.0%	$44.7M-67.2%	$136.4M+1218.5%	-$12.2M-144.6%	$27.4M+176.6%	-$35.7M
Net Income	$161.0M-19.4%	$199.7M+372.4%	-$73.3M-228.9%	$56.9M+8.6%	$52.4M-76.9%	$226.4M
EPS (Diluted)	$1.37-16.0%	$1.63+229.4%	$-1.26-584.6%	$0.26-3.7%	$0.27-88.8%	$2.42

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$99.2M+41.4%	$70.2M+57.9%	$44.5M-58.8%	$107.9M+51.6%	$71.2M-4.1%	$74.2M-12.5%	$84.8M-48.1%	$163.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$228.4M+11.3%	$205.1M+12.6%	$182.1M-2.7%	$187.1M+8.9%	$171.8M+0.2%	$171.5M-7.5%	$185.5M+0.9%	$183.9M
Income Tax	-$11.3M-219.3%	$9.5M+159.3%	-$16.0M-286.0%	$8.6M+170.5%	$3.2M+120.9%	-$15.2M-20.9%	-$12.6M-122.1%	$57.0M
Net Income	$58.3M+673.8%	$7.5M-22.2%	$9.7M-79.2%	$46.5M+83.0%	$25.4M-46.6%	$47.6M-10.0%	$52.9M-13.9%	$61.4M
EPS (Diluted)	$0.55+1475.0%	$-0.04-300.0%	$-0.01-102.2%	$0.45+164.7%	$0.17-56.4%	$0.39-15.2%	$0.46-9.8%	$0.51

PMT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$14.4B+9.9%	$13.1B-5.8%	$13.9B+1.1%	$13.8B+19.8%	$11.5B-2.4%	$11.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$337.7M+20.1%	$281.1M+151.3%	$111.9M+89.7%	$59.0M+2.2%	$57.7M-44.5%	$104.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$12.5B+11.8%	$11.2B-6.7%	$12.0B+4.9%	$11.4B+24.0%	$9.2B-1.3%	$9.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.0B-80.4%	$5.1B+1.5%	$5.1B+13.0%	$4.5B	N/A	$2.2B
Total Equity	$1.9B-0.9%	$2.0B-0.3%	$2.0B-17.1%	$2.4B+3.1%	$2.3B-6.3%	$2.5B
Retained Earnings	-$528.9M-4.0%	-$508.7M+3.4%	-$526.8M-105.3%	-$256.7M-154.8%	-$100.7M-551.4%	$22.3M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$18.5B+10.3%	$16.8B+12.9%	$14.9B+3.2%	$14.4B+19.3%	$12.1B-1.7%	$12.3B-6.3%	$13.1B-0.8%	$13.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$263.5M-27.4%	$362.9M+46.4%	$247.9M-26.6%	$337.7M+158.3%	$130.7M+3.3%	$126.6M-55.0%	$281.1M+18.9%	$236.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$16.6B+11.5%	$14.9B+15.1%	$13.0B+4.0%	$12.5B+23.0%	$10.1B-1.9%	$10.3B-7.4%	$11.2B-1.0%	$11.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$299.0M-75.3%	$1.2B+25.0%	$968.4M-3.9%	$1.0B-81.2%	$5.4B+5.0%	$5.1B-1.0%	$5.1B+1.4%	$5.1B
Total Equity	$1.9B+0.7%	$1.9B-1.9%	$1.9B-1.8%	$1.9B-0.1%	$1.9B-1.0%	$2.0B+0.1%	$2.0B+0.4%	$1.9B
Retained Earnings	-$589.6M+2.1%	-$602.4M-6.7%	-$564.5M-6.7%	-$528.9M-0.5%	-$526.3M-3.9%	-$506.4M+0.5%	-$508.7M+1.5%	-$516.4M

PMT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$2.7B-301.7%	$1.3B-24.9%	$1.8B+163.3%	-$2.8B-519.8%	$671.7M+122.5%	-$3.0B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.4B+6361.6%	-$21.7M+98.8%	-$1.9B-270.9%	$1.1B+7212.7%	-$15.4M+97.8%	-$704.7M
Financing Cash Flow	$1.4B+221.7%	-$1.1B-945.7%	$135.9M-92.1%	$1.7B+345.9%	-$702.6M-118.8%	$3.7B
Dividends Paid	$139.3M-0.9%	$140.6M-19.0%	$173.5M-5.7%	$184.0M+21.4%	$151.6M+7.5%	$141.0M
Share Buybacks	$0-100.0%	$28.5M-67.6%	$88.0M+54.8%	$56.9M+52.6%	$37.3M	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$1.3B+35.6%	-$2.0B-239.2%	-$594.3M+63.3%	-$1.6B-764.7%	$243.8M+171.2%	-$342.4M-164.2%	$533.0M+737.6%	$63.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$436.2M-259.8%	$272.9M+578.4%	$40.2M-85.7%	$282.0M+3955.7%	-$7.3M-100.9%	$770.8M+1037.6%	-$82.2M-142.6%	$193.1M
Financing Cash Flow	$1.6B-12.0%	$1.9B+300.1%	$464.3M-65.1%	$1.3B+673.2%	-$232.3M+60.1%	-$582.9M-43.5%	-$406.1M-56.7%	-$259.2M
Dividends Paid	$34.8M0.0%	$34.8M0.0%	$34.8M0.0%	$34.9M0.0%	$34.8M+0.3%	$34.8M-0.2%	$34.8M0.0%	$34.8M
Share Buybacks	N/A	N/A	N/A	$0	$0	$0-100.0%	$1.5M	$0

PMT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	48.2%+1.6pp	46.5%+70.7pp	-24.1%-37.7pp	13.5%+2.4pp	11.2%-35.2pp	46.3%
Return on Equity	8.3%-1.9pp	10.2%	N/A	2.4%+0.1pp	2.3%-7.0pp	9.2%
Return on Assets	1.1%-0.4pp	1.5%+2.1pp	-0.5%-0.9pp	0.4%-0.0pp	0.5%-1.5pp	1.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.52-2.1	2.63+0.0	2.58+0.7	1.90-2.1	4.00+3.1	0.88
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	58.8%+48.0pp	10.7%-11.0pp	21.8%-21.4pp	43.1%+7.4pp	35.7%-28.4pp	64.2%+1.7pp	62.4%+24.8pp	37.6%
Return on Equity	3.1%+2.7pp	0.4%-0.1pp	0.5%-1.9pp	2.4%+1.1pp	1.3%-1.1pp	2.4%-0.3pp	2.7%-0.5pp	3.1%
Return on Assets	0.3%+0.3pp	0.0%-0.0pp	0.1%-0.3pp	0.3%+0.1pp	0.2%-0.2pp	0.4%-0.0pp	0.4%-0.1pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.16-0.5	0.65+0.1	0.51-0.0	0.52-2.2	2.76+0.2	2.60-0.0	2.63+0.0	2.61
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Pennymac Mortg's annual revenue?

Pennymac Mortg (PMT) reported $334.2M in total revenue for fiscal year 2024. This represents a -22.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pennymac Mortg's revenue growing?

Pennymac Mortg (PMT) revenue declined by 22.1% year-over-year, from $429.0M to $334.2M in fiscal year 2024.

Is Pennymac Mortg profitable?

Yes, Pennymac Mortg (PMT) reported a net income of $161.0M in fiscal year 2024, with a net profit margin of 48.2%.

What is Pennymac Mortg's earnings per share (EPS)?

Pennymac Mortg (PMT) reported diluted earnings per share of $1.37 for fiscal year 2024. This represents a -16.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Pennymac Mortg have?

As of fiscal year 2024, Pennymac Mortg (PMT) had $337.7M in cash and equivalents against $1.0B in long-term debt.

What is Pennymac Mortg's net profit margin?

Pennymac Mortg (PMT) had a net profit margin of 48.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Pennymac Mortg pay dividends?

Yes, Pennymac Mortg (PMT) paid $1.60 per share in dividends during fiscal year 2024.

What is Pennymac Mortg's return on equity (ROE)?

Pennymac Mortg (PMT) has a return on equity of 8.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Pennymac Mortg's operating cash flow?

Pennymac Mortg (PMT) generated -$2.7B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Pennymac Mortg's total assets?

Pennymac Mortg (PMT) had $14.4B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Pennymac Mortg have outstanding?

Pennymac Mortg (PMT) had 87M shares outstanding as of fiscal year 2024.

What is Pennymac Mortg's debt-to-equity ratio?

Pennymac Mortg (PMT) had a debt-to-equity ratio of 0.52 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pennymac Mortg's return on assets (ROA)?

Pennymac Mortg (PMT) had a return on assets of 1.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Pennymac Mortg's cash runway?

Based on fiscal year 2024 data, Pennymac Mortg (PMT) had $337.7M in cash against an annual operating cash burn of $2.7B. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Pennymac Mortg's Piotroski F-Score?

Pennymac Mortg (PMT) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pennymac Mortg's earnings high quality?

Pennymac Mortg (PMT) has an earnings quality ratio of -16.79x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.