PMTU
PennyMac Mortgage Investment Trust
REIT - Industrial
Market Cap$2.22B
5Y Perf.+4.2%
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Stock Comparison
PMTU vs IVR vs AGNC vs MFA vs NLY
Revenue, margins, valuation, and 5-year total return — side by side.
IVR
Invesco Mortgage Capital Inc.
REIT - Mortgage
Market Cap$591M
5Y Perf.-13.6%
AGNC
AGNC Investment Corp.
REIT - Mortgage
Market Cap$9.75B
5Y Perf.+15.0%
MFA
MFA Financial, Inc.
REIT - Mortgage
Market Cap$1.01B
5Y Perf.+3.0%
NLY
Annaly Capital Management, Inc.
REIT - Mortgage
Market Cap$16.24B
5Y Perf.+20.2%
PMTU vs IVR vs AGNC vs MFA vs NLY — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PMTU | IVR | AGNC | MFA | NLY |
|---|---|---|---|---|---|
| Industry | REIT - Industrial | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $2.22B | $591M | $9.75B | $1.01B | $16.24B |
| Revenue (TTM) | $957M | $335M | $3.46B | $650M | $6.70B |
| Net Income (TTM) | $132M | $101M | $838M | $135M | $2.03B |
| Gross Margin | 49.5% | 50.5% | 100.0% | 59.3% | 99.2% |
| Operating Margin | 35.7% | 47.1% | 107.1% | 41.0% | 102.6% |
| Forward P/E | 17.4x | 3.9x | 7.0x | 7.5x | 7.5x |
| Total Debt | $19.09B | $5.62B | $64M | $10.99B | $111.86B |
| Cash & Equiv. | $272M | $56M | $505M | $213M | $2.04B |
PMTU vs IVR vs AGNC vs MFA vs NLY — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PMTU
IVR
AGNC
MFA
NLY
| Stock | Sep 23 | May 26 | Return |
|---|---|---|---|
| PennyMac Mortgage I… (PMTU) | 100 | 104.2 | +4.2% |
| Invesco Mortgage Ca… (IVR) | 100 | 86.4 | -13.6% |
| AGNC Investment Cor… (AGNC) | 100 | 115.0 | +15.0% |
| MFA Financial, Inc. (MFA) | 100 | 103.0 | +3.0% |
| Annaly Capital Mana… (NLY) | 100 | 120.2 | +20.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PMTU vs IVR vs AGNC vs MFA vs NLY
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: IVR and AGNC are tied at the top with 2 categories each (5-stock set) — the right choice depends on your priorities. AGNC Investment Corp. is the stronger pick specifically for growth and revenue expansion and recent price momentum and sentiment. NLY and PMTU also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
PMTU
PennyMac Mortgage Investment Trust
The Real Estate Income Play
PMTU is the clearest fit if your priority is stability.
- Beta 0.56 vs IVR's 0.77
Best for: stability
IVR
Invesco Mortgage Capital Inc.
The Real Estate Income Play
IVR has the current edge in this matchup, primarily because of its strength in value and dividends.
- Lower P/E (3.9x vs 7.5x)
- 19.6% yield, vs MFA's 18.1%
Best for: value and dividends
AGNC
AGNC Investment Corp.
The Real Estate Income Play
AGNC is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 384.7%, EPS growth 17.6%, 3Y rev CAGR 26.4%
- 384.7% FFO/revenue growth vs IVR's -24.6%
- +38.5% vs PMTU's +8.7%
Best for: growth exposure
MFA
MFA Financial, Inc.
The Real Estate Income Play
MFA is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 1 yrs, beta 0.72, yield 18.1%
- Lower volatility, beta 0.72, current ratio 2.18x
- Beta 0.72, yield 18.1%, current ratio 2.18x
Best for: income & stability and sleep-well-at-night
NLY
Annaly Capital Management, Inc.
The Real Estate Income Play
NLY ranks third and is worth considering specifically for long-term compounding.
- 36.0% 10Y total return vs PMTU's 26.2%
- 30.3% margin vs PMTU's 13.8%
- 1.7% ROA vs PMTU's 0.7%, ROIC 6.4% vs 0.4%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | AGNC | 384.7% FFO/revenue growth vs IVR's -24.6% |
| Value | IVR | Lower P/E (3.9x vs 7.5x) |
| Quality / Margins | NLY | 30.3% margin vs PMTU's 13.8% |
| Stability / Safety | PMTU | Beta 0.56 vs IVR's 0.77 |
| Dividends | IVR | 19.6% yield, vs MFA's 18.1% |
| Momentum (1Y) | AGNC | +38.5% vs PMTU's +8.7% |
| Efficiency (ROA) | NLY | 1.7% ROA vs PMTU's 0.7%, ROIC 6.4% vs 0.4% |
PMTU vs IVR vs AGNC vs MFA vs NLY — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
Segment breakdown not available.
Segment breakdown not available.
FY 2021
PMTU vs IVR vs AGNC vs MFA vs NLY — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLAGNCLAGGINGNLY
Who Leads Where
AGNC leads in 2 of 6 categories
IVR leads 1 • PMTU leads 1 • MFA leads 0 • NLY leads 0 • 2 tied
Explore the data ↓NLYAnnaly Capital Manage…
0leads
MFAMFA Financial, Inc.
0leads
IVRInvesco Mortgage Capi…
1leads
PMTUPennyMac Mortgage Inv…
1leads
AGNCAGNC Investment Corp.
2leads
6 Total Categories
CATEGORYLEADERvs PMTUvs IVRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
AGNC3/6
Valuation MetricsMultiples, price ratios, and targets
IVR3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
AGNC5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
PMTU2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
AGNC leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NLY is the larger business by revenue, generating $6.7B annually — 20.0x IVR's $335M. NLY is the more profitable business, keeping 30.3% of every revenue dollar as net income compared to PMTU's 13.8%. On growth, AGNC holds the edge at +2.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $957M | $335M | $3.5B | $650M | $6.7B |
| EBITDAEarnings before interest/tax | $342M | $158M | $3.7B | $268M | $6.9B |
| Net IncomeAfter-tax profit | $132M | $101M | $838M | $135M | $2.0B |
| Free Cash FlowCash after capex | -$9.1B | $157M | $604M | $91M | -$222M |
| Gross MarginGross profit ÷ Revenue | +49.5% | +50.5% | +100.0% | +59.3% | +99.2% |
| Operating MarginEBIT ÷ Revenue | +35.7% | +47.1% | +107.1% | +41.0% | +102.6% |
| Net MarginNet income ÷ Revenue | +13.8% | +30.2% | +24.2% | +20.7% | +30.3% |
| FCF MarginFCF ÷ Revenue | -9.6% | +46.8% | +17.5% | +14.0% | -3.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | -98.2% | -58.6% | +2.5% | +118.9% | -8.4% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +9.7% | +84.6% | -103.0% | +79.5% |
AGNC leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
IVR leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 5.4x trailing earnings, IVR trades at a 79% valuation discount to PMTU's 25.7x P/E. On an enterprise value basis, AGNC's 2.5x EV/EBITDA is more attractive than PMTU's 224.3x.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| Market CapShares × price | $2.2B | $591M | $9.7B | $1.0B | $16.2B |
| Enterprise ValueMkt cap + debt − cash | $21.0B | $6.2B | $9.3B | $11.8B | $126.1B |
| Trailing P/EPrice ÷ TTM EPS | 25.74x | 5.38x | 11.68x | 5.89x | 7.74x |
| Forward P/EPrice ÷ next-FY EPS est. | 17.42x | 3.86x | 6.96x | 7.52x | 7.53x |
| PEG RatioP/E ÷ EPS growth rate | 0.87x | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 224.31x | 19.16x | 2.45x | 17.09x | 18.35x |
| Price / SalesMarket cap ÷ Revenue | 2.16x | 1.74x | 2.00x | 1.15x | 2.43x |
| Price / BookPrice ÷ Book value/share | 1.17x | 0.68x | 0.87x | 0.57x | 0.90x |
| Price / FCFMarket cap ÷ FCF | — | 3.76x | 113.32x | 13.26x | — |
IVR leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
AGNC leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
NLY delivers a 14.1% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $7 for PMTU. AGNC carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to PMTU's 10.12x. On the Piotroski fundamental quality scale (0–9), IVR scores 5/9 vs PMTU's 3/9, reflecting solid financial health.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +7.1% | +13.3% | +7.3% | +7.4% | +14.1% |
| ROA (TTM)Return on assets | +0.7% | +1.7% | +0.8% | +1.1% | +1.7% |
| ROICReturn on invested capital | +0.4% | +4.0% | +34.0% | +4.4% | +6.4% |
| ROCEReturn on capital employed | +0.9% | +40.4% | +4.9% | +5.8% | +19.7% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 | 5 | 5 | 5 |
| Debt / EquityFinancial leverage | 10.12x | 7.05x | 0.01x | 6.01x | 6.92x |
| Net DebtTotal debt minus cash | $18.8B | $5.6B | -$441M | $10.8B | $109.8B |
| Cash & Equiv.Liquid assets | $272M | $56M | $505M | $213M | $2.0B |
| Total DebtShort + long-term debt | $19.1B | $5.6B | $64M | $11.0B | $111.9B |
| Interest CoverageEBIT ÷ Interest expense | 0.11x | 1.46x | 1.32x | 1.34x | 1.42x |
AGNC leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — AGNC and NLY each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PMTU five years ago would be worth $12,616 today (with dividends reinvested), compared to $5,653 for IVR. Over the past 12 months, AGNC leads with a +38.5% total return vs PMTU's +8.7%. The 3-year compound annual growth rate (CAGR) favors NLY at 17.3% vs PMTU's 8.1% — a key indicator of consistent wealth creation.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +2.3% | +2.7% | +3.8% | +7.7% | +1.8% |
| 1-Year ReturnPast 12 months | +8.7% | +30.9% | +38.5% | +19.7% | +31.8% |
| 3-Year ReturnCumulative with dividends | +26.2% | +32.9% | +59.8% | +35.5% | +61.3% |
| 5-Year ReturnCumulative with dividends | +26.2% | -43.5% | -1.2% | +1.7% | +2.6% |
| 10-Year ReturnCumulative with dividends | +26.2% | -30.9% | +47.6% | +8.3% | +36.0% |
| CAGR (3Y)Annualised 3-year return | +8.1% | +9.9% | +16.9% | +10.7% | +17.3% |
Evenly matched — AGNC and NLY each lead in 2 of 6 comparable metrics.
Risk & Volatility
PMTU leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PMTU is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than IVR's 0.77 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PMTU currently trades 97.0% from its 52-week high vs IVR's 86.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.56x | 0.77x | 0.76x | 0.72x | 0.65x |
| 52-Week HighHighest price in past year | $26.26 | $9.50 | $12.19 | $10.57 | $24.52 |
| 52-Week LowLowest price in past year | $7.06 | $7.10 | $8.65 | $8.78 | $18.43 |
| % of 52W HighCurrent price vs 52-week peak | +97.0% | +86.6% | +89.1% | +93.7% | +92.2% |
| RSI (14)Momentum oscillator 0–100 | 64.0 | 43.6 | 49.8 | 43.4 | 50.0 |
| Avg Volume (50D)Average daily shares traded | 2K | 2.2M | 18.0M | 1.4M | 7.0M |
PMTU leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — IVR and MFA and NLY each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: IVR as "Hold", AGNC as "Hold", MFA as "Hold", NLY as "Buy". Consensus price targets imply 9.4% upside for IVR (target: $9) vs 2.5% for AGNC (target: $11). For income investors, IVR offers the higher dividend yield at 19.59% vs PMTU's 6.29%.
| Metric | PMTUPennyMac Mortgage… | IVRInvesco Mortgage … | AGNCAGNC Investment C… | MFAMFA Financial, In… | NLYAnnaly Capital Ma… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold | Hold | Hold | Buy |
| Price TargetConsensus 12-month target | — | $9.00 | $11.13 | $10.25 | $24.50 |
| # AnalystsCovering analysts | — | 20 | 35 | 23 | 28 |
| Dividend YieldAnnual dividend ÷ price | +6.3% | +19.6% | +14.5% | +18.1% | +13.0% |
| Dividend StreakConsecutive years of raises | 0 | 0 | 0 | 1 | 1 |
| Dividend / ShareAnnual DPS | $1.60 | $1.61 | $1.58 | $1.79 | $2.94 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.4% | 0.0% | +1.5% | +0.1% |
Evenly matched — IVR and MFA and NLY each lead in 1 of 2 comparable metrics.
Key Takeaway
AGNC leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). IVR leads in 1 (Valuation Metrics). 2 tied.
Best OverallAGNC Investment Corp. (AGNC)Leads 2 of 6 categories
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PMTU vs IVR vs AGNC vs MFA vs NLY: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is PMTU or IVR or AGNC or MFA or NLY a better buy right now?
For growth investors, AGNC Investment Corp.
(AGNC) is the stronger pick with 384. 7% revenue growth year-over-year, versus -24. 6% for Invesco Mortgage Capital Inc. (IVR). Invesco Mortgage Capital Inc. (IVR) offers the better valuation at 5. 4x trailing P/E (3. 9x forward), making it the more compelling value choice. Analysts rate Annaly Capital Management, Inc. (NLY) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PMTU or IVR or AGNC or MFA or NLY?
On trailing P/E, Invesco Mortgage Capital Inc.
(IVR) is the cheapest at 5. 4x versus PennyMac Mortgage Investment Trust at 25. 7x. On forward P/E, Invesco Mortgage Capital Inc. is actually cheaper at 3. 9x.
03Which is the better long-term investment — PMTU or IVR or AGNC or MFA or NLY?
Over the past 5 years, PennyMac Mortgage Investment Trust (PMTU) delivered a total return of +26.
2%, compared to -43. 5% for Invesco Mortgage Capital Inc. (IVR). Over 10 years, the gap is even starker: AGNC returned +47. 6% versus IVR's -30. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PMTU or IVR or AGNC or MFA or NLY?
By beta (market sensitivity over 5 years), PennyMac Mortgage Investment Trust (PMTU) is the lower-risk stock at 0.
56β versus Invesco Mortgage Capital Inc. 's 0. 77β — meaning IVR is approximately 39% more volatile than PMTU relative to the S&P 500. On balance sheet safety, AGNC Investment Corp. (AGNC) carries a lower debt/equity ratio of 1% versus 10% for PennyMac Mortgage Investment Trust — giving it more financial flexibility in a downturn.
05Which is growing faster — PMTU or IVR or AGNC or MFA or NLY?
By revenue growth (latest reported year), AGNC Investment Corp.
(AGNC) is pulling ahead at 384. 7% versus -24. 6% for Invesco Mortgage Capital Inc. (IVR). On earnings-per-share growth, the picture is similar: AGNC Investment Corp. grew EPS 1760% year-over-year, compared to -27. 7% for PennyMac Mortgage Investment Trust. Over a 3-year CAGR, AGNC leads at 26. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PMTU or IVR or AGNC or MFA or NLY?
Annaly Capital Management, Inc.
(NLY) is the more profitable company, earning 30. 3% net margin versus 12. 4% for PennyMac Mortgage Investment Trust — meaning it keeps 30. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NLY leads at 102. 6% versus 9. 1% for PMTU. At the gross margin level — before operating expenses — AGNC leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PMTU or IVR or AGNC or MFA or NLY more undervalued right now?
On forward earnings alone, Invesco Mortgage Capital Inc.
(IVR) trades at 3. 9x forward P/E versus 17. 4x for PennyMac Mortgage Investment Trust — 13. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for IVR: 9. 4% to $9. 00.
08Which pays a better dividend — PMTU or IVR or AGNC or MFA or NLY?
All stocks in this comparison pay dividends.
Invesco Mortgage Capital Inc. (IVR) offers the highest yield at 19. 6%, versus 6. 3% for PennyMac Mortgage Investment Trust (PMTU).
09Is PMTU or IVR or AGNC or MFA or NLY better for a retirement portfolio?
For long-horizon retirement investors, PennyMac Mortgage Investment Trust (PMTU) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
56), 6. 3% yield). Both have compounded well over 10 years (PMTU: +26. 2%, IVR: -30. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PMTU and IVR and AGNC and MFA and NLY?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PMTU is a small-cap high-growth stock; IVR is a small-cap deep-value stock; AGNC is a small-cap high-growth stock; MFA is a small-cap high-growth stock; NLY is a mid-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(PMTU: -98.2% · IVR: -58.6%)Net Margin>
%
(PMTU: 13.8% · IVR: 30.2%)P/E Ratio<
x
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