PMTU
PennyMac Mortgage Investment Trust
REIT - Industrial
Market Cap$2.22B
5Y Perf.+4.1%
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Stock Comparison
PMTU vs NLY vs AGNC vs MFA
Revenue, margins, valuation, and 5-year total return — side by side.
NLY
Annaly Capital Management, Inc.
REIT - Mortgage
Market Cap$16.08B
5Y Perf.+19.0%
AGNC
AGNC Investment Corp.
REIT - Mortgage
Market Cap$9.62B
5Y Perf.+13.6%
MFA
MFA Financial, Inc.
REIT - Mortgage
Market Cap$995M
5Y Perf.+1.5%
PMTU vs NLY vs AGNC vs MFA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PMTU | NLY | AGNC | MFA |
|---|---|---|---|---|
| Industry | REIT - Industrial | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $2.22B | $16.08B | $9.62B | $995M |
| Revenue (TTM) | $957M | $6.70B | $3.46B | $650M |
| Net Income (TTM) | $132M | $2.03B | $838M | $135M |
| Gross Margin | 49.5% | 99.2% | 100.0% | 59.3% |
| Operating Margin | 35.7% | 102.6% | 107.1% | 41.0% |
| Forward P/E | 16.3x | 7.5x | 6.9x | 7.1x |
| Total Debt | $19.09B | $111.86B | $64M | $10.99B |
| Cash & Equiv. | $272M | $2.04B | $505M | $213M |
PMTU vs NLY vs AGNC vs MFA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PMTU
NLY
AGNC
MFA
| Stock | Sep 23 | May 26 | Return |
|---|---|---|---|
| PennyMac Mortgage I… (PMTU) | 100 | 104.1 | +4.1% |
| Annaly Capital Mana… (NLY) | 100 | 119.0 | +19.0% |
| AGNC Investment Cor… (AGNC) | 100 | 113.6 | +13.6% |
| MFA Financial, Inc. (MFA) | 100 | 101.5 | +1.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PMTU vs NLY vs AGNC vs MFA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: AGNC leads in 3 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Annaly Capital Management, Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. PMTU and MFA 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 0.55 vs MFA's 0.77
Best for: stability
NLY
Annaly Capital Management, Inc.
The Real Estate Income Play
NLY is the #2 pick in this set and the best alternative if income & stability and long-term compounding is your priority.
- Dividend streak 1 yrs, beta 0.64, yield 13.1%
- 35.5% 10Y total return vs PMTU's 26.1%
- Lower volatility, beta 0.64, current ratio 0.03x
- 30.3% margin vs PMTU's 13.8%
Best for: income & stability and long-term compounding
AGNC
AGNC Investment Corp.
The Real Estate Income Play
AGNC carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 384.7%, EPS growth 17.6%, 3Y rev CAGR 26.4%
- 384.7% FFO/revenue growth vs NLY's 5.4%
- Lower P/E (6.9x vs 7.5x)
- +39.4% vs PMTU's +8.4%
Best for: growth exposure
MFA
MFA Financial, Inc.
The Real Estate Income Play
MFA is the clearest fit if your priority is defensive.
- Beta 0.77, yield 18.4%, current ratio 2.18x
- 18.4% yield, 1-year raise streak, vs PMTU's 6.3%
Best for: defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | AGNC | 384.7% FFO/revenue growth vs NLY's 5.4% |
| Value | AGNC | Lower P/E (6.9x vs 7.5x) |
| Quality / Margins | NLY | 30.3% margin vs PMTU's 13.8% |
| Stability / Safety | PMTU | Beta 0.55 vs MFA's 0.77 |
| Dividends | MFA | 18.4% yield, 1-year raise streak, vs PMTU's 6.3% |
| Momentum (1Y) | AGNC | +39.4% vs PMTU's +8.4% |
| Efficiency (ROA) | NLY | 1.7% ROA vs PMTU's 0.7%, ROIC 6.4% vs 0.4% |
PMTU vs NLY vs AGNC vs MFA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2021
Segment breakdown not available.
Segment breakdown not available.
PMTU vs NLY vs AGNC vs MFA — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMFALAGGINGNLY
Who Leads Where
MFA leads in 2 of 6 categories
AGNC leads 1 • PMTU leads 1 • NLY leads 0 • 2 tied
Explore the data ↓NLYAnnaly Capital Manage…
0leads
AGNCAGNC Investment Corp.
1leads
PMTUPennyMac Mortgage Inv…
1leads
MFAMFA Financial, Inc.
2leads
6 Total Categories
CATEGORYLEADERvs PMTUvs AGNCMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
AGNC5/6
Valuation MetricsMultiples, price ratios, and targets
MFA4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
PMTU2/2
Analyst OutlookRatings, price targets, and dividends
MFA2/2
Income & Cash Flow (Last 12 Months)
AGNC leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NLY is the larger business by revenue, generating $6.7B annually — 10.3x MFA's $650M. 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… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $957M | $6.7B | $3.5B | $650M |
| EBITDAEarnings before interest/tax | $342M | $6.9B | $3.7B | $268M |
| Net IncomeAfter-tax profit | $132M | $2.0B | $838M | $135M |
| Free Cash FlowCash after capex | -$9.1B | -$222M | $604M | $91M |
| Gross MarginGross profit ÷ Revenue | +49.5% | +99.2% | +100.0% | +59.3% |
| Operating MarginEBIT ÷ Revenue | +35.7% | +102.6% | +107.1% | +41.0% |
| Net MarginNet income ÷ Revenue | +13.8% | +30.3% | +24.2% | +20.7% |
| FCF MarginFCF ÷ Revenue | -9.6% | -3.3% | +17.5% | +14.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -98.2% | -8.4% | +2.5% | +118.9% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +79.5% | +84.6% | -103.0% |
AGNC leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
MFA leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 5.8x trailing earnings, MFA trades at a 77% valuation discount to PMTU's 25.7x P/E. On an enterprise value basis, AGNC's 2.4x EV/EBITDA is more attractive than PMTU's 224.3x.
| Metric | PMTUPennyMac Mortgage… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| Market CapShares × price | $2.2B | $16.1B | $9.6B | $995M |
| Enterprise ValueMkt cap + debt − cash | $21.0B | $125.9B | $9.2B | $11.8B |
| Trailing P/EPrice ÷ TTM EPS | 25.72x | 7.67x | 11.53x | 5.80x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.34x | 7.46x | 6.87x | 7.11x |
| PEG RatioP/E ÷ EPS growth rate | 0.87x | — | — | — |
| EV / EBITDAEnterprise value multiple | 224.30x | 18.32x | 2.42x | 17.07x |
| Price / SalesMarket cap ÷ Revenue | 2.16x | 2.40x | 1.97x | 1.14x |
| Price / BookPrice ÷ Book value/share | 1.17x | 0.89x | 0.86x | 0.56x |
| Price / FCFMarket cap ÷ FCF | — | — | 111.86x | 13.06x |
MFA leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
Evenly matched — NLY and AGNC each lead in 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), NLY scores 5/9 vs PMTU's 3/9, reflecting solid financial health.
| Metric | PMTUPennyMac Mortgage… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +7.1% | +14.1% | +7.3% | +7.4% |
| ROA (TTM)Return on assets | +0.7% | +1.7% | +0.8% | +1.1% |
| ROICReturn on invested capital | +0.4% | +6.4% | +34.0% | +4.4% |
| ROCEReturn on capital employed | +0.9% | +19.7% | +4.9% | +5.8% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 | 5 | 5 |
| Debt / EquityFinancial leverage | 10.12x | 6.92x | 0.01x | 6.01x |
| Net DebtTotal debt minus cash | $18.8B | $109.8B | -$441M | $10.8B |
| Cash & Equiv.Liquid assets | $272M | $2.0B | $505M | $213M |
| Total DebtShort + long-term debt | $19.1B | $111.9B | $64M | $11.0B |
| Interest CoverageEBIT ÷ Interest expense | 0.11x | 1.42x | 1.32x | 1.34x |
Evenly matched — NLY and AGNC each lead in 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — NLY and AGNC each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PMTU five years ago would be worth $12,610 today (with dividends reinvested), compared to $9,782 for AGNC. Over the past 12 months, AGNC leads with a +39.4% total return vs PMTU's +8.4%. The 3-year compound annual growth rate (CAGR) favors NLY at 17.0% vs PMTU's 8.0% — a key indicator of consistent wealth creation.
| Metric | PMTUPennyMac Mortgage… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +2.2% | +0.8% | +2.5% | +6.1% |
| 1-Year ReturnPast 12 months | +8.4% | +31.7% | +39.4% | +19.2% |
| 3-Year ReturnCumulative with dividends | +26.1% | +60.1% | +58.3% | +34.1% |
| 5-Year ReturnCumulative with dividends | +26.1% | +1.4% | -2.2% | -0.6% |
| 10-Year ReturnCumulative with dividends | +26.1% | +35.5% | +46.9% | +7.8% |
| CAGR (3Y)Annualised 3-year return | +8.0% | +17.0% | +16.5% | +10.3% |
Evenly matched — NLY and AGNC 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 0.55 beta — it tends to amplify market swings less than MFA'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 AGNC's 87.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PMTUPennyMac Mortgage… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.55x | 0.64x | 0.74x | 0.77x |
| 52-Week HighHighest price in past year | $26.26 | $24.52 | $12.19 | $10.57 |
| 52-Week LowLowest price in past year | $7.06 | $18.43 | $8.65 | $8.78 |
| % of 52W HighCurrent price vs 52-week peak | +97.0% | +91.3% | +87.9% | +92.2% |
| RSI (14)Momentum oscillator 0–100 | 65.3 | 52.7 | 52.1 | 43.8 |
| Avg Volume (50D)Average daily shares traded | 2K | 7.0M | 18.2M | 1.4M |
PMTU leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
MFA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: NLY as "Buy", AGNC as "Hold", MFA as "Hold". Consensus price targets imply 9.4% upside for NLY (target: $25) vs 3.8% for AGNC (target: $11). For income investors, MFA offers the higher dividend yield at 18.36% vs PMTU's 6.29%.
| Metric | PMTUPennyMac Mortgage… | NLYAnnaly Capital Ma… | AGNCAGNC Investment C… | MFAMFA Financial, In… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Hold | Hold |
| Price TargetConsensus 12-month target | — | $24.50 | $11.13 | $10.25 |
| # AnalystsCovering analysts | — | 28 | 35 | 22 |
| Dividend YieldAnnual dividend ÷ price | +6.3% | +13.1% | +14.7% | +18.4% |
| Dividend StreakConsecutive years of raises | 0 | 1 | 0 | 1 |
| Dividend / ShareAnnual DPS | $1.60 | $2.94 | $1.58 | $1.79 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.1% | 0.0% | +1.5% |
MFA leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
MFA leads in 2 of 6 categories (Valuation Metrics, Analyst Outlook). AGNC leads in 1 (Income & Cash Flow). 2 tied.
Best OverallMFA Financial, Inc. (MFA)Leads 2 of 6 categories
Loading custom metrics...
PMTU vs NLY vs AGNC vs MFA: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is PMTU or NLY or AGNC or MFA 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 5. 4% for Annaly Capital Management, Inc. (NLY). MFA Financial, Inc. (MFA) offers the better valuation at 5. 8x trailing P/E (7. 1x 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 NLY or AGNC or MFA?
On trailing P/E, MFA Financial, Inc.
(MFA) is the cheapest at 5. 8x versus PennyMac Mortgage Investment Trust at 25. 7x. On forward P/E, AGNC Investment Corp. is actually cheaper at 6. 9x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — PMTU or NLY or AGNC or MFA?
Over the past 5 years, PennyMac Mortgage Investment Trust (PMTU) delivered a total return of +26.
1%, compared to -2. 2% for AGNC Investment Corp. (AGNC). Over 10 years, the gap is even starker: AGNC returned +46. 9% versus MFA's +7. 8%. 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 NLY or AGNC or MFA?
By beta (market sensitivity over 5 years), PennyMac Mortgage Investment Trust (PMTU) is the lower-risk stock at 0.
55β versus MFA Financial, Inc. 's 0. 77β — meaning MFA is approximately 41% 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 NLY or AGNC or MFA?
By revenue growth (latest reported year), AGNC Investment Corp.
(AGNC) is pulling ahead at 384. 7% versus 5. 4% for Annaly Capital Management, Inc. (NLY). 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 NLY or AGNC or MFA?
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 NLY or AGNC or MFA more undervalued right now?
On forward earnings alone, AGNC Investment Corp.
(AGNC) trades at 6. 9x forward P/E versus 16. 3x for PennyMac Mortgage Investment Trust — 9. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NLY: 9. 4% to $24. 50.
08Which pays a better dividend — PMTU or NLY or AGNC or MFA?
All stocks in this comparison pay dividends.
MFA Financial, Inc. (MFA) offers the highest yield at 18. 4%, versus 6. 3% for PennyMac Mortgage Investment Trust (PMTU).
09Is PMTU or NLY or AGNC or MFA 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.
55), 6. 3% yield). Both have compounded well over 10 years (PMTU: +26. 1%, MFA: +7. 8%), 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 NLY and AGNC and MFA?
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; NLY is a mid-cap deep-value stock; AGNC is a small-cap high-growth stock; MFA is a small-cap high-growth 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% · NLY: -8.4%)Net Margin>
%
(PMTU: 13.8% · NLY: 30.3%)P/E Ratio<
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