PennyMac Financial Services, Inc. PFSI
We are a specialty financial services firm with a comprehensive mortgage platform and integrated business primarily focused on the production and servicing of U.S. residential mortgage loans (activities which we refer to as mortgage banking). We are also engaged in the management of investments related to the U.S. mortgage market and providing products and services that leverage innovative technologies to effectively and efficiently support our customers. We believe that our operating capabilities, specialized expertise, access to long-term investment capital, and experience across all aspects of the mortgage business will allow us to profitably grow these activities over time and capitalize on other related opportunities as they arise.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.1M | $26.9M | $13.4M | $12.4M | $7.3M | $6.7M | $8.9M | $9.3M | $3.7M | $3.3M |
| Total operating expenses | $1.50B | $1.19B | $1.22B | $1.32B | $1.81B | $1.46B | $948.0M | $716.9M | $619.6M | $548.8M |
| Interest expense | $36.1M | $25.8M | $4.9M | $41.4M | $390.7M | $271.6M | $212.0M | $144.6M | $144.5M | $106.2M |
| Pre-tax income | $551.4M | $401.0M | $183.6M | $665.2M | $1.36B | $2.24B | $529.4M | $267.7M | $335.9M | $383.1M |
| Income tax | $50.3M | $89.6M | $39.0M | $189.7M | $355.7M | $593.7M | $136.5M | $23.3M | $24.4M | $46.1M |
| Net income | $501.0M | $311.0M | $145.0M | $476.0M | $1.00B | $1.65B | $393.0M | $87.7M | $100.8M | $66.1M |
| EPS, basic | 9.69 | 6.11 | 2.89 | 8.96 | 15.73 | 21.91 | 5.02 | 2.62 | 4.34 | 2.98 |
| EPS, diluted | 9.30 | 5.84 | 2.74 | 8.50 | 14.87 | 20.92 | 4.89 | 2.59 | 4.03 | 2.94 |
| Shares, diluted (wtd. avg.) | $53.9M | $53.4M | $52.7M | $56.0M | $67.5M | $78.7M | $80.3M | $35.3M | $25.0M | $76.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $301.7M | $238.5M | $938.4M | $1.33B | $340.1M | $532.8M | $188.6M | $155.9M | $38.2M | $99.6M |
| Short-term investments | $410.0M | $420.6M | $10.3M | $12.2M | $6.9M | $15.2M | $74.6M | $117.8M | $170.1M | — |
| Property, plant and equipment | $17.8M | $12.9M | $19.0M | $28.4M | $31.7M | — | $30.5M | $33.4M | $29.5M | — |
| Total assets | $29.39B | $26.09B | $18.84B | $16.82B | $18.78B | $31.60B | $10.20B | $6.84B | $6.90B | $5.25B |
| Short-term debt | — | — | — | — | — | — | $3.27B | $2.26B | $2.34B | $2.33B |
| Long-term debt | $6.23B | $5.25B | $4.43B | $3.75B | $3.10B | — | $1.52B | $1.47B | $1.38B | $690.5M |
| Total liabilities | $25.08B | $22.26B | $15.31B | $13.35B | $15.36B | $28.21B | $8.14B | $4.98B | $5.11B | $3.79B |
| Retained earnings | $4.21B | $3.77B | $3.51B | $3.47B | $3.29B | $2.34B | $726.4M | $343.1M | $265.3M | — |
| Total equity | $4.31B | $3.83B | $3.54B | $3.47B | $3.42B | $3.39B | $2.06B | $1.65B | $1.72B | $1.40B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.65B | -$4.53B | -$1.58B | $6.03B | $2.56B | -$6.20B | -$2.25B | $572.4M | -$883.4M | -$938.3M |
| Depreciation and amortisation | $54.4M | $56.0M | $53.2M | $34.4M | $28.6M | $25.6M | $15.0M | $12.9M | $8.4M | $5.8M |
| Stock-based compensation | $36.2M | $20.9M | $27.6M | $42.6M | $37.8M | $45.1M | $24.8M | $25.3M | $20.7M | $16.2M |
| Capital expenditure | $11.9M | $1.7M | $1.4M | $7.2M | $7.9M | $10.7M | $6.1M | $13.4M | $6.8M | $21.9M |
| Investing cash flow | $552.5M | -$1.89B | -$273.3M | -$721.6M | -$304.4M | $783.0M | $148.8M | -$322.6M | -$339.2M | -$34.7M |
| Financing cash flow | $1.16B | $5.72B | $1.47B | -$4.32B | -$2.45B | $5.76B | $2.13B | -$132.0M | $1.16B | $967.2M |
| Dividends paid | $62.5M | $52.2M | $41.4M | $54.6M | $52.9M | $30.9M | $9.7M | $10.1M | — | — |
| Buybacks | $4.7M | — | $71.5M | $406.1M | $958.2M | $337.5M | $1.1M | $5.3M | $8.6M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-164086.
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