PMTU
PennyMac Mortgage Investment Trust
REIT - Industrial
Market Cap$2.22B
5Y Perf.+4.1%
Compare Stocks
2 / 10Try these comparisons:
Stock Comparison
PMTU vs TWO
Revenue, margins, valuation, and 5-year total return — side by side.
TWO
Two Harbors Investment Corp.
REIT - Mortgage
Market Cap$1.30B
5Y Perf.-6.5%
PMTU vs TWO — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PMTU | TWO |
|---|---|---|
| Industry | REIT - Industrial | REIT - Mortgage |
| Market Cap | $2.22B | $1.30B |
| Revenue (TTM) | $957M | $765M |
| Net Income (TTM) | $132M | $-343M |
| Gross Margin | 49.5% | 88.0% |
| Operating Margin | 35.7% | 57.3% |
| Forward P/E | 16.3x | 12.0x |
| Total Debt | $19.09B | $8.56B |
| Cash & Equiv. | $272M | $842M |
PMTU vs TWO — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PMTU
TWO
| Stock | Sep 23 | May 26 | Return |
|---|---|---|---|
| PennyMac Mortgage I… (PMTU) | 100 | 104.1 | +4.1% |
| Two Harbors Investm… (TWO) | 100 | 93.5 | -6.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PMTU vs TWO
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: TWO leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and capital preservation and lower volatility. PennyMac Mortgage Investment Trust is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. 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 growth exposure and long-term compounding.
- Rev growth 103.8%, EPS growth -27.7%
- 26.1% 10Y total return vs TWO's -6.6%
- 103.8% FFO/revenue growth vs TWO's -28.4%
Best for: growth exposure and long-term compounding
TWO
Two Harbors Investment Corp.
The Real Estate Income Play
TWO carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.49, yield 13.2%
- Lower volatility, beta 0.49, current ratio 0.13x
- Beta 0.49, yield 13.2%, current ratio 0.13x
Best for: income & stability and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | PMTU | 103.8% FFO/revenue growth vs TWO's -28.4% |
| Value | TWO | Lower P/E (12.0x vs 16.3x) |
| Quality / Margins | PMTU | 13.8% margin vs TWO's -44.8% |
| Stability / Safety | TWO | Beta 0.49 vs PMTU's 0.55, lower leverage |
| Dividends | TWO | 13.2% yield, vs PMTU's 6.3% |
| Momentum (1Y) | TWO | +18.8% vs PMTU's +8.4% |
| Efficiency (ROA) | PMTU | 0.7% ROA vs TWO's -3.0%, ROIC 0.4% vs 3.1% |
PMTU vs TWO — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
PMTU vs TWO — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLTWOLAGGINGPMTU
PMTUPennyMac Mortgage Inv…
0leads
TWOTwo Harbors Investmen…
5leads
6 Total Categories
CATEGORYLEADERvs PMTUMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
TWO4/5
Valuation MetricsMultiples, price ratios, and targets
TWO5/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
TWO5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
TWO4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
TWO1/1
Income & Cash Flow (Last 12 Months)
TWO leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
PMTU and TWO operate at a comparable scale, with $957M and $765M in trailing revenue. PMTU is the more profitable business, keeping 13.8% of every revenue dollar as net income compared to TWO's -44.8%. On growth, TWO holds the edge at +3.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| RevenueTrailing 12 months | $957M | $765M |
| EBITDAEarnings before interest/tax | $342M | $70M |
| Net IncomeAfter-tax profit | $132M | -$343M |
| Free Cash FlowCash after capex | -$9.1B | -$66M |
| Gross MarginGross profit ÷ Revenue | +49.5% | +88.0% |
| Operating MarginEBIT ÷ Revenue | +35.7% | +57.3% |
| Net MarginNet income ÷ Revenue | +13.8% | -44.8% |
| FCF MarginFCF ÷ Revenue | -9.6% | -8.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -98.2% | +3.2% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +120.2% |
TWO leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
TWO leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, TWO's 198.1x EV/EBITDA is more attractive than PMTU's 224.3x.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| Market CapShares × price | $2.2B | $1.3B |
| Enterprise ValueMkt cap + debt − cash | $21.0B | $9.0B |
| Trailing P/EPrice ÷ TTM EPS | 25.72x | -2.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.34x | 11.98x |
| PEG RatioP/E ÷ EPS growth rate | 0.87x | — |
| EV / EBITDAEnterprise value multiple | 224.30x | 198.07x |
| Price / SalesMarket cap ÷ Revenue | 2.16x | 2.15x |
| Price / BookPrice ÷ Book value/share | 1.17x | 0.72x |
| Price / FCFMarket cap ÷ FCF | — | 14.63x |
TWO leads this category, winning 5 of 5 comparable metrics.
Profitability & Efficiency
TWO leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
PMTU delivers a 7.1% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-19 for TWO. TWO carries lower financial leverage with a 4.79x debt-to-equity ratio, signaling a more conservative balance sheet compared to PMTU's 10.12x.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| ROE (TTM)Return on equity | +7.1% | -19.1% |
| ROA (TTM)Return on assets | +0.7% | -3.0% |
| ROICReturn on invested capital | +0.4% | +3.1% |
| ROCEReturn on capital employed | +0.9% | +16.9% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 |
| Debt / EquityFinancial leverage | 10.12x | 4.79x |
| Net DebtTotal debt minus cash | $18.8B | $7.7B |
| Cash & Equiv.Liquid assets | $272M | $842M |
| Total DebtShort + long-term debt | $19.1B | $8.6B |
| Interest CoverageEBIT ÷ Interest expense | 0.11x | 0.09x |
TWO leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
TWO leads this category, winning 4 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 $7,960 for TWO. Over the past 12 months, TWO leads with a +18.8% total return vs PMTU's +8.4%. The 3-year compound annual growth rate (CAGR) favors TWO at 13.6% vs PMTU's 8.0% — a key indicator of consistent wealth creation.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| YTD ReturnYear-to-date | +2.2% | +23.4% |
| 1-Year ReturnPast 12 months | +8.4% | +18.8% |
| 3-Year ReturnCumulative with dividends | +26.1% | +46.8% |
| 5-Year ReturnCumulative with dividends | +26.1% | -20.4% |
| 10-Year ReturnCumulative with dividends | +26.1% | -6.6% |
| CAGR (3Y)Annualised 3-year return | +8.0% | +13.6% |
TWO leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — PMTU and TWO each lead in 1 of 2 comparable metrics.
Risk & Volatility
TWO is the less volatile stock with a 0.49 beta — it tends to amplify market swings less than PMTU's 0.55 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 TWO's 87.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.55x | 0.49x |
| 52-Week HighHighest price in past year | $26.26 | $14.17 |
| 52-Week LowLowest price in past year | $7.06 | $8.78 |
| % of 52W HighCurrent price vs 52-week peak | +97.0% | +87.4% |
| RSI (14)Momentum oscillator 0–100 | 65.3 | 70.7 |
| Avg Volume (50D)Average daily shares traded | 2K | 3.5M |
Evenly matched — PMTU and TWO each lead in 1 of 2 comparable metrics.
Analyst Outlook
TWO leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
For income investors, TWO offers the higher dividend yield at 13.25% vs PMTU's 6.29%.
| Metric | PMTUPennyMac Mortgage… | TWOTwo Harbors Inves… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $14.00 |
| # AnalystsCovering analysts | — | 22 |
| Dividend YieldAnnual dividend ÷ price | +6.3% | +13.2% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $1.60 | $1.64 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.1% |
TWO leads this category, winning 1 of 1 comparable metric.
Key Takeaway
TWO leads in 5 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.
Best OverallTwo Harbors Investment Corp. (TWO)Leads 5 of 6 categories
Loading custom metrics...
PMTU vs TWO: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is PMTU or TWO a better buy right now?
For growth investors, PennyMac Mortgage Investment Trust (PMTU) is the stronger pick with 103.
8% revenue growth year-over-year, versus -28. 4% for Two Harbors Investment Corp. (TWO). PennyMac Mortgage Investment Trust (PMTU) offers the better valuation at 25. 7x trailing P/E (16. 3x forward), making it the more compelling value choice. Analysts rate Two Harbors Investment Corp. (TWO) a "Hold" — based on 22 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 TWO?
On forward P/E, Two Harbors Investment Corp.
is actually cheaper at 12. 0x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — PMTU or TWO?
Over the past 5 years, PennyMac Mortgage Investment Trust (PMTU) delivered a total return of +26.
1%, compared to -20. 4% for Two Harbors Investment Corp. (TWO). Over 10 years, the gap is even starker: PMTU returned +26. 1% versus TWO's -6. 6%. 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 TWO?
By beta (market sensitivity over 5 years), Two Harbors Investment Corp.
(TWO) is the lower-risk stock at 0. 49β versus PennyMac Mortgage Investment Trust's 0. 55β — meaning PMTU is approximately 11% more volatile than TWO relative to the S&P 500. On balance sheet safety, Two Harbors Investment Corp. (TWO) carries a lower debt/equity ratio of 5% versus 10% for PennyMac Mortgage Investment Trust — giving it more financial flexibility in a downturn.
05Which is growing faster — PMTU or TWO?
By revenue growth (latest reported year), PennyMac Mortgage Investment Trust (PMTU) is pulling ahead at 103.
8% versus -28. 4% for Two Harbors Investment Corp. (TWO). On earnings-per-share growth, the picture is similar: PennyMac Mortgage Investment Trust grew EPS -27. 7% year-over-year, compared to -284. 0% for Two Harbors Investment Corp.. 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 TWO?
PennyMac Mortgage Investment Trust (PMTU) is the more profitable company, earning 12.
4% net margin versus -75. 0% for Two Harbors Investment Corp. — meaning it keeps 12. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TWO leads at 68. 7% versus 9. 1% for PMTU. At the gross margin level — before operating expenses — TWO leads at 97. 9%, 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 TWO more undervalued right now?
On forward earnings alone, Two Harbors Investment Corp.
(TWO) trades at 12. 0x forward P/E versus 16. 3x for PennyMac Mortgage Investment Trust — 4. 4x cheaper on a one-year earnings basis.
08Which pays a better dividend — PMTU or TWO?
All stocks in this comparison pay dividends.
Two Harbors Investment Corp. (TWO) offers the highest yield at 13. 2%, versus 6. 3% for PennyMac Mortgage Investment Trust (PMTU).
09Is PMTU or TWO better for a retirement portfolio?
For long-horizon retirement investors, Two Harbors Investment Corp.
(TWO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 49), 13. 2% yield). Both have compounded well over 10 years (TWO: -6. 6%, PMTU: +26. 1%), 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 TWO?
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; TWO is a small-cap income-oriented 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.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform both.
Revenue Growth>
%
(PMTU: -98.2% · TWO: 3.2%)You Might Also Compare
Based on how these companies actually compete and overlap — not just which sector they're filed under.