Pennymac Mortg Financials
Pennymac Mortg (PMT) reported $307.5M in revenue for fiscal year 2025, down 8.0% from the prior fiscal year. This page shows its 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).
Balance-sheet expansion rather than simple revenue growth is driving the business, with cash usage and funding flows doing most of the work.
From FY2023 to FY2025, total assets rose from$13.1B to$21.3B while equity was roughly flat, so incremental growth came mainly from a larger financed asset base rather than retained capital. Over the same stretch, operating cash flow flipped from$1.3B to-$7.2B , which points to a business where portfolio positioning can absorb cash quickly even when reported earnings stay positive.
Because assets are far larger than revenue, return on assets is more revealing than margin percentages for judging performance. FY2025 ROA of
The reported debt-to-equity ratio fell from 2.6x to 0.6x, yet total liabilities still increased across the last two years, so the funding structure changed more than the balance sheet became conservative. Dividends of
Financial Health Signals
Pennymac Mortg does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Pennymac Mortg passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Pennymac Mortg reported $86.1M of net income while operations used $7.2B of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Key Financial Metrics
Earnings & Revenue
Pennymac Mortg generated $307.5M in revenue in fiscal year 2025. This represents a decrease of 8.0% from the prior year.
Pennymac Mortg reported $86.1M in net income in fiscal year 2025. This represents a decrease of 27.8% from the prior year.
Pennymac Mortg earned $0.99 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 27.7% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Pennymac Mortg held $272.0M in cash against $1.1B in long-term debt as of fiscal year 2025.
Pennymac Mortg paid $1.60 per share in dividends in fiscal year 2025. That is unchanged from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Pennymac Mortg's net profit margin was 28.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.7 percentage points from the prior year.
Pennymac Mortg's ROE was 4.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Pennymac Mortg repurchased no shares in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
PMT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $347.7M | $307.5M-8.0% | $334.2M-22.1% | $429.0M+41.2% | $303.8M-27.7% | $420.3M-10.5% | $469.4M-4.0% | $488.8M+39.2% | $351.1M+10.4% | $317.9M+16.9% | $272.1M+9.4% | $248.8M-30.3% | $356.7M-12.0% | $405.5M+33.6% | $303.5M+171.8% | $111.7M |
| SG&A Expenses | $12.4M | $11.9M+111.9% | $5.6M-21.1% | $7.1M+19.6% | $5.9M+48.5% | $4.0M+2.8% | $3.9M-43.6% | $6.9M+1.7% | $6.8M+7.3% | $6.3M-9.7% | $7.0M-5.0% | $7.4M-11.6% | $8.3M+5.2% | $7.9M+10.8% | $7.1M+38.4% | $5.2M |
| Interest Expense | $1.1B | $870.4M+21.8% | $714.7M-2.9% | $736.0M+79.3% | $410.4M+34.7% | $304.7M+12.5% | $270.8M-9.0% | $297.4M+69.8% | $175.2M+15.7% | $151.4M+1.1% | $149.8M+20.1% | $124.7M+45.7% | $85.6M+31.2% | $65.2M+106.1% | $31.6M+86.7% | $16.9M |
| Income Tax | -$39.4M | -$34.1M-85.7% | -$18.3M-141.0% | $44.7M-67.2% | $136.4M+1218.5% | -$12.2M-144.6% | $27.4M+176.6% | -$35.7M-788.2% | $5.2M-23.6% | $6.8M+148.4% | -$14.0M+16.4% | -$16.8M-11.4% | -$15.1M-204.4% | $14.4M-70.3% | $48.6M+502.9% | $8.1M |
| Net Income | $124.4M | $86.1M-27.8% | $119.2M-24.5% | $157.8M+237.1% | -$115.1M-544.4% | $25.9M-50.5% | $52.4M-76.9% | $226.4M+48.1% | $152.8M+29.8% | $117.7M+55.3% | $75.8M-15.9% | $90.1M-53.7% | $194.5M-2.8% | $200.2M+44.8% | $138.2M+114.5% | $64.4M |
| EPS (Diluted) | — | $0.99-27.7% | $1.37-16.0% | $1.63+229.4% | -$1.26-584.6% | $0.26 | $0.27 | $2.42+21.6% | $1.99+34.5% | $1.48+37.0% | $1.08-6.9% | $1.16-53.0% | $2.47-16.6% | $2.96 | $3.14 | $2.41 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PMT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.3B+48.2% | $14.4B+9.9% | $13.1B-5.8% | $13.9B+1.1% | $13.8B+19.8% | $11.5B-2.4% | $11.8B+50.7% | $7.8B+39.4% | $5.6B-11.8% | $6.4B+9.1% | $5.8B+19.0% | $4.9B+13.8% | $4.3B+68.1% | $2.6B+84.7% | $1.4B |
| Cash & Equivalents | $272.0M-19.5% | $337.7M+20.1% | $281.1M+151.3% | $111.9M+89.7% | $59.0M+2.2% | $57.7M-44.5% | $104.1M+73.9% | $59.8M-22.9% | $77.6M+125.2% | $34.5M-40.7% | $58.1M-23.9% | $76.4M+178.7% | $27.4M-62.3% | $72.8M+398.8% | $14.6M |
| Total Liabilities | $19.5B+56.0% | $12.5B+11.8% | $11.2B-6.7% | $12.0B+4.9% | $11.4B+24.0% | $9.2B-1.3% | $9.3B+49.2% | $6.2B+53.9% | $4.1B-18.9% | $5.0B+15.6% | $4.3B+30.5% | $3.3B+16.7% | $2.8B+109.4% | $1.4B+61.7% | $840.0M |
| Long-Term Debt | $1.1B+8.6% | $1.0B-80.4% | $5.1B+1.5% | $5.1B+13.0% | $4.5B | N/A | $2.2B+113.5% | $1.0B+52.9% | $661.7M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.9B-2.6% | $1.9B-0.9% | $2.0B-0.3% | $2.0B-17.1% | $2.4B+3.1% | $2.3B-6.3% | $2.5B+56.5% | $1.6B+1.4% | $1.5B+14.3% | $1.4B-9.7% | $1.5B-5.2% | $1.6B+7.6% | $1.5B+22.1% | $1.2B+120.0% | $546.0M |
| Retained Earnings | -$582.8M-10.2% | -$528.9M-4.0% | -$508.7M+3.4% | -$526.8M-105.3% | -$256.7M-154.8% | -$100.7M-551.4% | $22.3M+213.2% | -$19.7M+57.7% | -$46.7M-74.6% | -$26.7M-204.2% | $25.7M-73.8% | $97.7M+19.3% | $81.9M+15.6% | $70.9M+158.1% | $27.5M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.
PMT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.1B | -$7.2B-166.9% | -$2.7B-301.7% | $1.3B-24.9% | $1.8B+163.3% | -$2.8B-519.8% | $671.7M+122.5% | -$3.0B-420.3% | -$573.8M-357.1% | $223.1M+135.9% | -$621.5M+28.0% | -$863.2M-135.8% | -$366.0M-50.7% | -$242.8M+70.4% | -$820.4M-189.2% | -$283.7M |
| Investing Cash Flow | $1.7B | $429.7M-68.4% | $1.4B+6361.6% | -$21.7M+98.8% | -$1.9B-270.9% | $1.1B+7212.7% | -$15.4M+97.8% | -$704.7M+50.5% | -$1.4B-308.9% | $681.7M+251.5% | $194.0M | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $8.2B | $6.7B+380.2% | $1.4B+221.7% | -$1.1B-945.7% | $135.9M-92.1% | $1.7B+345.9% | -$702.6M-118.8% | $3.7B+88.6% | $2.0B+329.8% | -$861.6M-313.3% | $404.0M | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | $139.4M | $139.4M0.0% | $139.3M-0.9% | $140.6M-19.0% | $173.5M-5.7% | $184.0M+21.4% | $151.6M+7.5% | $141.0M+22.0% | $115.6M-8.4% | $126.1M-4.1% | $131.6M-24.0% | $173.0M-0.8% | $174.4M+18.2% | $147.6M+55.6% | $94.8M+139.8% | $39.5M |
| Share Buybacks | N/A | $0 | $0-100.0% | $28.5M-67.6% | $88.0M+54.8% | $56.9M+52.6% | $37.3M | $0-100.0% | $10.7M-88.2% | $91.2M-7.3% | $98.4M+502.1% | $16.3M | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PMT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 28.0%-7.7pp | 35.7%-1.1pp | 36.8%+74.7pp | -37.9%-44.0pp | 6.2%-5.0pp | 11.2%-35.2pp | 46.3%+2.8pp | 43.5%+6.5pp | 37.0%+9.2pp | 27.9%-8.4pp | 36.2%-18.3pp | 54.5%+5.2pp | 49.4%+3.8pp | 45.6%-12.2pp | 57.7% |
| Return on Equity | 4.6%-1.6pp | 6.2%-1.9pp | 8.1%+13.9pp | -5.9%-7.0pp | 1.1%-1.2pp | 2.3%-7.0pp | 9.2%-0.5pp | 9.8%+2.1pp | 7.6%+2.0pp | 5.6%-0.4pp | 6.0%-6.3pp | 12.3%-1.3pp | 13.7%+2.1pp | 11.5%-0.3pp | 11.8% |
| Return on Assets | 0.4%-0.4pp | 0.8%-0.4pp | 1.2%+2.0pp | -0.8%-1.0pp | 0.2%-0.3pp | 0.5%-1.5pp | 1.9%0.0pp | 2.0%-0.1pp | 2.1%+0.9pp | 1.2%-0.4pp | 1.6%-2.4pp | 4.0%-0.7pp | 4.7%-0.8pp | 5.4%+0.8pp | 4.7% |
| Debt-to-Equity | 0.58+0.1x | 0.52-2.1x | 2.630.0x | 2.58+0.7x | 1.90-2.1x | 4.00+3.1x | 0.88+0.2x | 0.65+0.2x | 0.43-3.3x | 3.71+0.8x | 2.89+0.8x | 2.10+0.2x | 1.94+0.8x | 1.13-0.4x | 1.54 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
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Where Pennymac Mortg Ranks
Frequently Asked Questions
What is Pennymac Mortg's annual revenue?
Pennymac Mortg (PMT) reported $307.5M in total revenue for fiscal year 2025. This represents a -8.0% 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 8.0% year-over-year, from $334.2M to $307.5M in fiscal year 2025.
Is Pennymac Mortg profitable?
Yes, Pennymac Mortg (PMT) reported a net income of $86.1M in fiscal year 2025, with a net profit margin of 28.0%.
How much debt does Pennymac Mortg have?
As of fiscal year 2025, Pennymac Mortg (PMT) had $272.0M in cash and equivalents against $1.1B in long-term debt.
What is Pennymac Mortg's net profit margin?
Pennymac Mortg (PMT) had a net profit margin of 28.0% in fiscal year 2025, 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 2025.
What is Pennymac Mortg's return on equity (ROE)?
Pennymac Mortg (PMT) has a return on equity of 4.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pennymac Mortg's operating cash flow?
Pennymac Mortg (PMT) recorded an outflow of $7.2B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Pennymac Mortg's total assets?
Pennymac Mortg (PMT) had $21.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Pennymac Mortg's debt-to-equity ratio?
Pennymac Mortg (PMT) had a debt-to-equity ratio of 0.58 as of fiscal year 2025, 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 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pennymac Mortg's cash runway?
Based on fiscal year 2025 data, Pennymac Mortg (PMT) had $272.0M in cash against an annual operating cash burn of $7.2B. This gives an estimated cash runway of approximately 0 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 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported $86.1M of net income while operations used $7.2B of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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.