PennyMac Financial Services, Inc. (PFSI) 10-Year Financial Performance & Capital Metrics

PFSI • • Banking & Credit

Financial ServicesMortgage FinanceResidential Mortgage Origination & ServicingFull-Service Mortgage Banking

AboutPennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans. It sources first-lien residential conventional and government-insured or guaranteed mortgage loans. The Servicing segment engages in the servicing of newly originated loans, and execution and management of early buyout transactions and servicing of loans. It performs loan administration, collection, and default management activities, including the collection and remittance of loan payments, response to customer inquiries, accounting for principal and interest, holding custodial funds for the payment of property taxes and insurance premiums, counseling delinquent borrowers, and supervising foreclosures and property dispositions, as well as administers loss mitigation activities, such as modification and forbearance programs. The Investment Management segment is involved in sourcing, performing diligence, bidding, and closing investment asset acquisitions; managing correspondent production activities for PennyMac Mortgage Investment Trust; and managing acquired assets. PennyMac Financial Services, Inc. was founded in 2008 and is headquartered in Westlake Village, California.Show more

Net Interest Income -$26M
Total Revenue $1.59B -21.8%
Net Income $311M +115.3%
Return on Equity 8.45% +104.8%
Net Interest Margin -0.1%
Efficiency Ratio 41.08% +69.8%
ROA 1.39% +70.9%
Equity / Assets 14.68% -21.8%
Book Value per Share 71.78 +7.0%
Tangible BV/Share -94.38 -34.2%
Debt/Equity 5.37 +40.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 41.1% efficiency ratio
✓Momentum leader: RS Rating 80 (top 20%)
✓Well capitalized: 14.7% equity/assets
✓Diversified revenue: 50.2% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 5.4x
✗Weak Piotroski F-Score: 3/9
✗Weak NIM of -0.1%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.7%

5Y-1.05%

3Y-23.49%

TTM-

Profit (Net Income) CAGR

10Y23.79%

5Y-4.54%

3Y-32.3%

TTM193.21%

EPS CAGR

10Y12.94%

5Y3.61%

3Y-26.77%

TTM194.6%

ROCE

10Y Avg10.12%

5Y Avg8.26%

3Y Avg5.03%

Latest6.19%

Peer Comparison

Full-Service Mortgage Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PFSIPennyMac Financial Services, Inc.	7.83B	150.70	25.80	-21.84%	19.54%	11.85%		5.37
ONITOnity Group Inc.	454.63M	53.35	12.92	-6.58%	3.17%	6.2%		29.90
GHLDGuild Holdings Company	439.06M	20.01	12.83	60.87%	8.27%	10.18%		2.42
SNFCASecurity National Financial Corporation	202.03M	9.02	8.51	-14.2%	323.91%	5.1%	27.15%	0.32

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-19.38M	-106.21M	-1.34M	-144.6M	0	0	0	0	0	-25.78M
NII Growth %	-1.04%	-4.48%	0.99%	-106.83%	1%	-	-	-	-	-
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	49.16M	0	143.18M	0	0	0	0	0	0	793.57M
Interest Expense	68.54M	106.21M	144.52M	144.6M	0	0	0	0	0	819.35M
Loan Loss Provision	251.65M	319.62M	367.83M	421.25M	788M	1.19B	1.43B	1.01B	1.19B	-781.36M
Non-Interest Income+	728.91M	1.01B	937.34M	1.14B	1.68B	3.95B	3.56B	2.32B	2.04B	800.16M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	778.07M	1.01B	1.08B	1.14B	1.68B	3.95B	3.56B	2.32B	2.04B	1.59B
Revenue Growth %	0.48%	0.3%	0.07%	0.05%	0.48%	1.35%	-0.1%	-0.35%	-0.12%	-0.22%
Non-Interest Expense	178.69M	205.03M	232.25M	303.85M	362.27M	526.45M	773.92M	618.27M	493.43M	654.71M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	279.19M	383.08M	335.91M	267.7M	529.44M	2.24B	1.36B	688.69M	354.04M	901.03M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.25%	0.37%	-0.12%	-0.2%	0.98%	3.23%	-0.39%	-0.49%	-0.49%	1.55%
Pretax Income+	279.19M	383.08M	335.91M	267.7M	529.44M	2.24B	1.36B	665.25M	183.63M	401.03M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	31.64M	46.1M	24.39M	23.25M	136.48M	593.73M	355.69M	189.74M	38.98M	89.6M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	47.23M	66.08M	100.76M	87.69M	392.96M	1.65B	1B	475.51M	144.66M	311.42M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.28%	0.4%	0.52%	-0.13%	3.48%	3.19%	-0.39%	-0.53%	-0.7%	1.15%
Net Income (Continuing)	247.56M	336.98M	311.52M	244.44M	392.96M	1.65B	1B	475.51M	144.66M	311.42M
EPS (Diluted)+	2.17	2.94	1.28	2.48	4.89	20.92	14.87	8.50	2.74	5.84
EPS Growth %	0.25%	0.35%	-0.56%	0.94%	0.97%	3.28%	-0.29%	-0.43%	-0.68%	1.13%
EPS (Basic)	2.17	2.98	4.34	2.59	5.02	21.91	15.73	8.96	2.89	6.11
Diluted Shares Outstanding	76.1M	76.63M	78.94M	35.32M	80.34M	78.73M	67.47M	55.95M	52.73M	53.36M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	105.47M	99.37M	37.73M	155.29M	135.69M	532.72M	340.07M	1.33B	938.37M	238.48M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	47.46M	87.19M	171.28M	119.22M	76.28M	16.32M	8.17M	13.12M	11.39M	421.5M
Investments Growth %	1.04%	0.84%	0.96%	-0.3%	-0.36%	-0.79%	-0.5%	0.61%	-0.13%	36.01%
Long-Term Investments	1.15M	1.23M	1.21M	1.4M	1.67M	1.1M	1.3M	929K	1.12M	944K
Accounts Receivables	1000K	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.41B	1.64B	2.15B	2.86B	2.99B	2.66B	3.99B	6.11B	7.25B	8.87B
PP&E (Net)	16.31M	31.32M	29.45M	33.37M	103.57M	107.15M	120.72M	94.25M	68.94M	49.49M
Other Assets	95.87M	50.89M	98.11M	240.58M	423.03M	992.03M	459.94M	143.72M	253.52M	1.05B
Total Current Assets	1.96B	3.33B	5.01B	4.24B	6.69B	27.83B	14.21B	10.47B	11.27B	16.12B
Total Non-Current Assets	1.55B	1.81B	2.35B	3.23B	3.52B	3.76B	4.57B	6.35B	7.57B	9.97B
Total Assets+	3.51B	5.13B	7.37B	7.48B	10.2B	31.6B	18.78B	16.82B	18.84B	26.09B
Asset Growth %	0.4%	0.46%	0.44%	0.01%	0.36%	2.1%	-0.41%	-0.1%	0.12%	0.38%
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.01%	0.04%	0.08%	0.04%	0.03%	0.01%	0.01%
Accounts Payable	664.72M	593.32M	482.68M	476.95M	427.14M	580.45M	587.43M	552.92M	658.11M	476.73M
Total Debt+	1.64B	2.98B	5.04B	4.88B	7.12B	26.89B	13.99B	11.8B	13.49B	20.55B
Net Debt	1.54B	2.88B	5.01B	4.72B	6.99B	26.36B	13.65B	10.47B	12.56B	20.32B
Long-Term Debt	477.06M	1.24B	2.66B	2.94B	2.87B	17.13B	6.58B	8.71B	9.73B	11.87B
Short-Term Debt	1.17B	1.74B	2.38B	1.93B	4.14B	9.65B	7.29B	3B	3.76B	8.69B
Other Liabilities	29.7M	41.43M	2.99B	1.19B	43.78M	75.33M	66.13M	-31.42M	84.06M	70.03M
Total Current Liabilities	1.94B	2.45B	2.96B	2.86B	5.12B	10.89B	8.6B	4.58B	5.49B	10.32B
Total Non-Current Liabilities	506.75M	1.28B	2.69B	2.97B	3.02B	17.32B	6.76B	8.77B	9.81B	11.94B
Total Liabilities	2.44B	3.73B	5.65B	5.82B	8.14B	28.21B	15.36B	13.35B	15.31B	22.26B
Total Equity+	1.06B	1.4B	1.72B	1.67B	2.06B	3.39B	3.42B	3.47B	3.54B	3.83B
Equity Growth %	0.32%	0.32%	0.23%	-0.03%	0.24%	0.64%	0.01%	0.02%	0.02%	0.08%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.05%	0.06%	0.05%	0.21%	0.6%	0.29%	0.14%	0.04%	0.08%
Book Value per Share	13.96	18.26	21.78	47.22	25.66	43.05	50.66	62.04	67.10	71.78
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	2K	2K	2K	8K	8K	7K	6K	5K	5K	5K
Additional Paid-in Capital	172.35M	182.77M	204.1M	1.31B	1.34B	1.05B	125.4M	0	24.29M	56.07M
Retained Earnings	98.47M	164.55M	265.31M	343.13M	726.39M	2.34B	3.29B	3.47B	3.51B	3.77B
Accumulated OCI	0	1.4B	1.72B	1.65B	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	164.55M	265.31M	343.13M	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	53.14M	-938.52M	-883.59M	572.4M	-2.15B	-6.2B	2.56B	6.03B	-1.58B	-4.53B
Operating CF Growth %	1.09%	-18.66%	0.06%	1.65%	-4.75%	-1.89%	1.41%	1.35%	-1.26%	-1.87%
Net Income	247.56M	336.98M	311.52M	244.44M	392.96M	1.65B	1B	475.51M	144.66M	311.42M
Depreciation & Amortization	155.55M	306.12M	281.63M	258.81M	25.18M	37.86M	42.94M	50.24M	70.02M	69.66M
Deferred Taxes	30.22M	35.5M	105.83M	39.52M	0	-779.61M	425.88M	0	0	0
Other Non-Cash Items	-374.62M	-1.6B	-1.47B	31.65M	-2.58B	-6.65B	1.07B	5.16B	-1.84B	-4.73B
Working Capital Changes	-23.08M	-29.64M	-136.1M	-27.29M	10.44M	-496.14M	-17.99M	309.52M	11.24M	-209.54M
Cash from Investing+	-563.14M	-34.74M	-339.23M	-322.61M	50.66M	783.03M	-304.37M	-721.58M	-273.29M	-1.89B
Purchase of Investments	-24.63M	-66.96M	-120.73M	-122.23M	-21.13M	-131.84M	-434.4M	-877.2M	-96.46M	-2.05B
Sale/Maturity of Investments	1000K	0	0	1000K	1000K	1000K	1000K	0	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-385.61M	0	0	245.11M	0	131.84M	-48.98M	0	0	0
Other Investing	239.79M	62.76M	-16.18M	-239.22M	291.53M	-105.19M	227.54M	162.78M	-142.59M	-136.71M
Cash from Financing+	539.21M	967.16M	1.16B	-132.03M	2.13B	5.76B	-2.45B	-4.32B	1.47B	5.72B
Dividends Paid	0	0	0	-10.05M	-9.71M	-30.95M	-52.9M	-54.62M	-41.45M	-52.16M
Share Repurchases	0	0	-8.6M	-5.29M	-1.06M	-337.48M	-958.19M	-406.09M	-71.49M	0
Stock Issued	0	149K	0	0	5.14M	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Financing	-81.43M	560.43M	623M	-460.33M	-4.63M	5.5B	-2.4B	-4.32B	748.96M	4.9B
Net Change in Cash+	29.22M	-6.11M	-61.64M	117.75M	33M	344.2M	-192.69M	988.45M	-390.17M	-699.89M
Exchange Rate Effect	0	0	0	0	348K	0	0	0	0	0
Cash at Beginning	76.26M	105.47M	99.37M	38.17M	155.29M	188.58M	532.78M	340.09M	1.33B	938.37M
Cash at End	105.47M	99.37M	37.73M	155.92M	188.29M	532.78M	340.09M	1.33B	938.37M	238.48M
Interest Paid	0	0	0	0	0	272.97M	389.53M	329.98M	0	797.21M
Income Taxes Paid	0	0	0	0	0	475.59M	293.13M	0	0	1.49M
Free Cash Flow+	-341.58M	-969.06M	-1.09B	313.87M	-2.15B	-6.28B	2.51B	5.95B	-1.62B	-4.56B
FCF Growth %	0.53%	-1.84%	-0.12%	1.29%	-7.86%	-1.92%	1.4%	1.37%	-1.27%	-1.81%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.05%	5.37%	6.46%	5.18%	21.07%	60.43%	29.48%	13.8%	4.13%	8.45%
Return on Assets (ROA)	1.57%	1.53%	1.61%	1.18%	4.44%	7.88%	3.98%	2.67%	0.81%	1.39%
Net Interest Margin	-0.55%	-2.07%	-0.02%	-1.93%	0%	0%	0%	0%	0%	-0.1%
Efficiency Ratio	22.97%	20.22%	21.49%	26.71%	21.57%	13.32%	21.75%	26.63%	24.2%	41.08%
Equity / Assets	30.31%	27.26%	23.34%	22.3%	20.2%	10.73%	18.21%	20.63%	18.78%	14.68%
Book Value / Share	13.96	18.26	21.78	47.22	25.66	43.05	50.66	62.04	67.1	71.78
NII Growth	-104.32%	-447.96%	98.74%	-10682.77%	100%	-	-	-	-	-
Dividend Payout	-	-	-	11.46%	-	1.88%	5.27%	11.49%	28.65%	16.75%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Mortgage banking Production	-	-	-	2.31B	865.18M	643.03M	941.7M
Mortgage banking Production Growth	-	-	-	-	-62.49%	-25.68%	46.45%
Mortgage banking Servicing	-	-	-	817.29M	1.08B	721.39M	595.36M
Mortgage banking Servicing Growth	-	-	-	-	32.20%	-33.24%	-17.47%
Mortgage banking	-	-	-	3.12B	1.95B	1.36B	-
Mortgage banking Growth	-	-	-	-	-37.72%	-29.87%	-
Investment management	-	-	-	43.3M	40.08M	37.23M	-
Investment management Growth	-	-	-	-	-7.45%	-7.11%	-
Mortgages Banking	-	-	3.67B	-	-	-	-
Mortgages Banking Growth	-	-	-	-	-	-	-
Mortgage Banking Lending Sector	386M	993.88M	2.82B	-	-	-	-
Mortgage Banking Lending Sector Growth	-	157.49%	184.24%	-	-	-	-
Mortgage Banking Servicing Sector	567.92M	440.78M	840.76M	-	-	-	-
Mortgage Banking Servicing Sector Growth	-	-22.39%	90.74%	-	-	-	-
Investment Management	29.59M	42.74M	39.84M	-	-	-	-
Investment Management Growth	-	44.44%	-6.79%	-	-	-	-
Mortgage Banking	-	1.43B	-	-	-	-	-
Mortgage Banking Growth	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

PennyMac Financial Services, Inc. (PFSI) has a price-to-earnings (P/E) ratio of 25.8x. This suggests investors expect higher future growth.

Growth & Financials

PennyMac Financial Services, Inc. (PFSI) saw revenue decline by 21.8% over the past year.

Yes, PennyMac Financial Services, Inc. (PFSI) is profitable, generating $498.7M in net income for fiscal year 2024 (19.5% net margin).

Dividend & Returns

Yes, PennyMac Financial Services, Inc. (PFSI) pays a dividend with a yield of 0.65%. This makes it attractive for income-focused investors.

PennyMac Financial Services, Inc. (PFSI) has a return on equity (ROE) of 8.5%. This is below average, suggesting room for improvement.

Industry Metrics

PennyMac Financial Services, Inc. (PFSI) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

PennyMac Financial Services, Inc. (PFSI) has an efficiency ratio of 41.1%. This is excellent, indicating strong cost control.

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