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PMT logoPennyMac Mortgage Investment Trust(PMT)Earnings, Financials & Key Ratios

PMT•NYSE•REIT / Real Estate
$12.13
$1.06B mkt cap·12.3× P/E·Price updated May 6, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustryMortgage servicing rights focused REITs
AboutPennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds. Its Interest Rate Sensitive Strategies segment engages in investing in mortgage servicing rights, excess servicing spreads, and agency and senior non-agency mortgage-backed securities (MBS), as well as related interest rate hedging activities. The company's Correspondent Production segment is involved in purchasing, pooling, and reselling newly originated prime credit residential loans directly or in the form of MBS. PNMAC Capital Management, LLC acts as the manager of PennyMac Mortgage Investment Trust. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders. PennyMac Mortgage Investment Trust was founded in 2009 and is headquartered in Westlake Village, California.Show more
  • Revenue$1.74B+245.8%
  • FFO$130M-19.5%
  • FFO/Share1.49-19.7%
  • FFO Payout107.55%+24.3%
  • FFO per Share1.49-19.7%
  • NOI Margin91.61%+21.5%
  • FFO Margin7.43%-76.7%
  • ROE6.68%-19.1%
  • ROA0.72%-38.9%
  • Debt/Assets89.45%+6.3%
  • Net Debt/EBITDA19.52+70.1%
  • Book Value/Share21.70-2.8%
Technical→

PMT Key Insights

PennyMac Mortgage Investment Trust (PMT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 19.5%
  • ✓High NOI margin of 91.6%
  • ✓Trading at only 0.6x book value

✗Weaknesses

  • ✗High debt to equity ratio of 10.1x
  • ✗Dividend exceeds FFO - may not be sustainable
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PMT Price & Volume

PennyMac Mortgage Investment Trust (PMT) stock price & volume — 10-year historical chart

Loading chart...

PMT Growth Metrics

PennyMac Mortgage Investment Trust (PMT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years19.56%
5 Years4.38%
3 Years-
TTM79.98%

Profit CAGR

10 Years3.56%
5 Years19.55%
3 Years-
TTM7.56%

EPS CAGR

10 Years-1.57%
5 Years29.67%
3 Years-
TTM25.11%

Return on Capital

10 Years6.09%
5 Years5.08%
3 Years8.67%
Last Year13.22%

PMT Recent Earnings

PennyMac Mortgage Investment Trust (PMT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 3/12 qtrs (25%)
Q1 2026Latest
Jan 29, 2026
EPS
$0.48
Est $0.41
+17.1%
Revenue
$94M
Est $98M
-5.0%
Q4 2025
Oct 21, 2025
EPS
$0.55
Est $0.36
+52.8%
Revenue
$62M
Est $98M
-36.5%
Q3 2025
Jul 22, 2025
EPS
$0.04
Est $0.35
-111.4%
Revenue
$5M
Est $98M
-94.7%
Q2 2025
Apr 22, 2025
EPS
$0.01
Est $0.38
-102.6%
Revenue
$4M
Est $92M
-95.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestJan 29, 2026
$0.48vs $0.41+17.1%
$94Mvs $98M-5.0%
Q4 2025Oct 21, 2025
$0.55vs $0.36+52.8%
$62Mvs $98M-36.5%
Q3 2025Jul 22, 2025
$0.04vs $0.35-111.4%
$5Mvs $98M-94.7%
Q2 2025Apr 22, 2025
$0.01vs $0.38-102.6%
$4Mvs $92M-95.8%
Based on last 12 quarters of dataView full earnings history →

PMT Peer Comparison

PennyMac Mortgage Investment Trust (PMT) competitors in Mortgage servicing rights focused REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MFA logoMFAMFA Financial, Inc.Direct Competitor975M9.555.68213.02%39.14%7.42%7.82%6.01
MITT logoMITTTPG Mortgage Investment Trust IncDirect Competitor251.35M7.928.8014.4%6.82%6.11%23.7%14.45
EARN logoEARNEllington Credit CompanyDirect Competitor179.53M4.7819.92-8.45%13%-2.76%5.08%2.91
CIM logoCIMChimera Investment CorporationDirect Competitor1.14B13.644.96218.22%33.11%8.85%5.08
IVR logoIVRInvesco Mortgage Capital Inc.Direct Competitor576.83M8.035.25-24.6%30.19%13.34%27.23%7.05
EFC logoEFCEllington Financial Inc.Direct Competitor1.3B13.1011.01139.04%34.24%8.4%39.07%9.07
GPMT logoGPMTGranite Point Mortgage Trust Inc.Direct Competitor66.11M1.39-1.20187.77%-30.37%-7.14%4.03%2.12
AGNC logoAGNCAGNC Investment Corp.Product Competitor9.62B10.7211.53384.69%24.23%7.32%0.89%0.01

Compare PMT vs Peers

PennyMac Mortgage Investment Trust (PMT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MFA

Most directly comparable listed peer for PMT.

Scale Benchmark

vs NLY

Larger-name benchmark to compare PMT against a more recognizable public peer.

Peer Set

Compare Top 5

vs MFA, MITT, EARN, CIM

PMT Income Statement

PennyMac Mortgage Investment Trust (PMT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue448.93M409.85M953.17M1.41B757.48M-145.66M725.87M504.6M1.74B1.06B
Revenue Growth %44.35%-8.71%132.57%47.75%-46.21%-119.23%598.32%-30.48%245.81%79.98%
Property Operating Expenses139.93M139.61M234.21M333.27M308.74M175.54M122.1M124.11M146.45M117.62M
Net Operating Income (NOI)
309.01M▲ 0%
270.23M▼ 12.5%
718.96M▲ 166.1%
1.08B▲ 49.5%
448.74M▼ 58.3%
-321.2M▼ 171.6%
603.76M▲ 288.0%
380.5M▼ 37.0%
1.6B▲ 320.1%
946.5M▲ 0%
NOI Margin %68.83%65.94%75.43%76.33%59.24%220.51%83.18%75.4%91.61%88.95%
Operating Expenses37.29M39.03M50.56M46.27M54.74M48.63M45.53M49.17M220.61M123.47M
G&A Expenses35.81M37.63M48.95M44.83M52.95M46.58M43.49M47.01M77.31M47.8M
EBITDA129.76M334.68M190.64M1.29B688.32M26.33M1.28B1.03B964.28M966.77M
EBITDA Margin %28.9%81.66%20%91.57%90.87%-18.08%176.24%203.67%55.26%90.85%
Depreciation & Amortization0000000000
D&A / Revenue %0%0%0%0%0%0%0%0%0%0%
Operating Income
271.72M▲ 0%
231.2M▼ 14.9%
668.4M▲ 189.1%
1.03B▲ 53.9%
394M▼ 61.7%
-369.84M▼ 193.9%
558.23M▲ 250.9%
331.33M▼ 40.6%
1.38B▲ 315.9%
764.47M▲ 0%
Operating Margin %60.53%56.41%70.12%73.05%52.01%253.9%76.91%65.66%78.96%71.84%
Interest Expense151.37M175.17M297.45M270.77M304.74M410.42M735.97M714.66M870.39M4M
Interest Coverage0.86x1.91x0.64x4.76x2.26x0.06x1.74x1.44x1.11x-
Non-Operating Income271.72M231.2M668.4M1.03B394M-369.84M558.23M331.33M413.71M94.98M
Pretax Income
124.55M▲ 0%
157.99M▲ 26.9%
190.64M▲ 20.7%
79.73M▼ 58.2%
44.66M▼ 44.0%
63.09M▲ 41.3%
244.4M▲ 287.4%
142.65M▼ 41.6%
93.82M▼ 34.2%
127.01M▲ 0%
Pretax Margin %27.74%38.55%20%5.66%5.9%-43.31%33.67%28.27%5.38%11.94%
Income Tax6.8M5.19M35.72M27.36M12.19M136.37M44.74M18.34M34.05M-15.8M
Effective Tax Rate %5.46%3.29%18.73%34.31%27.3%216.17%18.31%12.85%36.3%-12.44%
Net Income
117.75M▲ 0%
152.8M▲ 29.8%
226.36M▲ 48.1%
52.37M▼ 76.9%
56.85M▲ 8.6%
-73.29M▼ 228.9%
199.65M▲ 372.4%
160.98M▼ 19.4%
127.87M▼ 20.6%
132.35M▲ 0%
Net Margin %26.23%37.28%23.75%3.72%7.51%50.31%27.51%31.9%7.33%12.44%
Net Income Growth %55.32%29.77%48.14%-76.86%8.56%-228.9%372.43%-19.37%-20.57%7.56%
Funds From Operations (FFO)
199.37M▲ 0%
247.13M▲ 24.0%
610.09M▲ 146.9%
52.37M▼ 91.4%
56.85M▲ 8.6%
-66.54M▼ 217.0%
199.76M▲ 400.2%
160.98M▼ 19.4%
129.58M▼ 19.5%
75.97M▲ 0%
FFO Margin %44.41%60.3%64.01%3.72%7.51%45.68%27.52%31.9%7.43%7.14%
FFO Growth %40.94%23.95%146.87%---400.22%--0%
FFO per Share2.673.566.960.530.58-0.731.791.851.490.87
FFO Payout Ratio %63.27%46.78%23.11%289.42%323.59%-260.82%70.39%86.53%107.55%137.59%
EPS (Diluted)
1.48▲ 0%
2.20▲ 48.6%
2.42▲ 10.0%
0.27▼ 88.8%
0.26▼ 3.7%
-1.26▼ 584.6%
1.63▲ 229.4%
1.37▼ 16.0%
0.99▼ 27.7%
1.52▲ 0%
EPS Growth %37.04%48.65%10%-88.84%-3.7%-584.62%229.37%-15.95%-27.74%25.11%
EPS (Basic)1.532.202.540.270.26-1.261.801.370.99-
Diluted Shares Outstanding74.61M69.36M87.71M99.37M97.4M91.43M111.7M86.81M86.99M87.08M

PMT Balance Sheet

PennyMac Mortgage Investment Trust (PMT) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets5.6B7.81B11.77B11.52B13.77B13.92B13.11B14.41B21.35B22.5B
Asset Growth %-11.84%39.4%50.66%-2.17%19.59%1.08%-5.8%9.87%48.15%180.39%
Real Estate & Other Assets-863.18M-1.1B3.31B-3.7B-3.06B-4.01B-8.88B-8.03B-3.64B0
PP&E (Net)-3.75B-7.81B0-7.4B000000
Investment Securities1000K1000K1000K1000K001000K1000K00
Total Current Assets96.05M138.77M4703.12B226.98M000271.97M213.96M
Cash & Equivalents77.65M59.84M104.06M2.86B58.98M111.87M281.08M337.69M271.97M213.96M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Assets14.24M7.18M-197.65M0-15.95M-431.07M-1.89B-1.74B-209.62M0
Intangible Assets844.78M1.16B1.54B1.76B2.89B4.01B3.92B3.87B3.64B0
Total Liabilities4.06B6.25B9.32B9.22B11.41B11.96B11.16B12.47B19.46B20.64B
Total Debt3.93B6.06B9.14B8.94B11.17B11.38B10.47B12.13B19.09B3.08B
Net Debt3.85B6B9.04B-583.6M11.11B11.27B10.19B11.79B18.82B2.87B
Long-Term Debt0529.85M2.16B2.27B4.46B4.77B4.88B5.59B11.08B0
Short-Term Borrowings189.92M08.45B6.67B9.19B9.42B3.51B3.54B8.02B3.08B
Capital Lease Obligations0000000000
Total Current Liabilities27.32M70.69M7.15B1.95B6.91B7.13B6.25B6.9B8.02B3.21B
Accounts Payable71.82M106.7M116.86M135.57M106.75M155.87M387.66M173.35M168.5M0
Deferred Revenue4.06B6.25B00000000
Other Liabilities4.03B-529.85M7.61M21.89M40.25M39.47M26.14M6.89M365.22M17.43B
Total Equity
1.54B▲ 0%
1.57B▲ 1.4%
2.45B▲ 56.5%
2.3B▼ 6.3%
2.37B▲ 3.1%
1.96B▼ 17.1%
1.96B▼ 0.3%
1.94B▼ 0.9%
1.89B▼ 2.6%
1.87B▲ 0%
Equity Growth %14.32%1.4%56.49%-6.29%3.08%-17.09%-0.29%-0.95%-2.64%-11.33%
Shareholders Equity1.54B1.57B2.45B2.3B2.37B1.96B1.96B1.94B1.89B1.87B
Minority Interest0000000000
Common Stock613K610K1M979K949K889K866K869K870K872K
Additional Paid-in Capital1.29B1.29B2.13B2.1B2.08B1.95B1.92B1.93B1.93B0
Retained Earnings-46.67M-19.72M22.32M-100.73M-256.67M-526.82M-508.69M-528.92M-582.83M-603.56M
Preferred Stock299.71M299.71M299.71M299.71M541.48M541.48M541.48M541.48M541.48M0
Return on Assets (ROA)1.97%2.28%2.31%0.45%0.45%-0.53%1.48%1.17%0.72%0.67%
Return on Equity (ROE)8.13%9.82%11.27%2.21%2.44%-3.38%10.19%8.26%6.68%7.06%
Debt / Assets70.16%77.52%77.64%77.61%81.08%81.76%79.86%84.19%89.45%13.69%
Debt / Equity2.55x3.87x3.73x3.89x4.72x5.80x5.35x6.26x10.12x10.12x
Net Debt / EBITDA29.71x17.92x47.40x-0.45x16.14x427.96x7.97x11.47x19.52x19.52x
Book Value per Share20.7022.5827.9423.1124.3121.4717.5222.3321.7021.43

PMT Cash Flow Statement

PennyMac Mortgage Investment Trust (PMT) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations223.13M-573.75M-2.99B671.66M-2.82B1.78B1.34B-2.7B-7.21B142.29M
Operating CF Growth %135.9%-357.14%-420.27%122.5%-519.82%163.29%-24.9%-301.68%-166.87%-1388.26%
Operating CF / Revenue %49.7%-139.99%-313.17%47.69%-372.25%-1225.06%184.63%-535.65%-413.37%13.37%
Net Income117.75M152.8M226.36M52.37M56.85M-73.29M199.65M160.2M127.87M132.35M
Depreciation & Amortization81.62M94.33M383.73M006.75M110K01.71M4.83M
Stock-Based Compensation4.9M5.32M5.53M2.29M2.42M4.31M5.21M-1.85M-1.13M2.75M
Other Non-Cash Items112.12M-712.94M-3.31B-3.83M-2.38B1.81B992.61M-2.11B-7.29B-9.05B
Working Capital Changes-11.64M13.62M105.75M620.82M-497.4M41.44M142.59M-753.08M-54.75M-248.45M
Cash from Investing681.68M-1.42B-704.68M-15.37M1.09B-1.87B-21.73M1.36B429.67M1.65B
Acquisitions (Net)79K000-28.82M00000
Purchase of Investments-252.59M-1.87B-1.27B-2.38B-2.3B-3.8B-3.17B00-922.45M
Sale of Investments286.26M220.61M1.16B3.18B1.83B1.38B3.11B00451.72M
Other Investing648.01M227.29M-595.22M-822.28M1.56B551.2M37.81M1.36B429.67M2.13B
Cash from Financing-861.63M1.98B3.73B-702.64M1.73B135.89M-1.15B1.4B6.72B6.25B
Dividends Paid-140.2M-140.54M-165.94M-176.53M-214.12M-215.37M-182.44M-181.12M-181.19M-135.89M
Common Dividends-126.14M-115.6M-141M-151.58M-183.97M-173.55M-140.62M-139.3M-139.37M-104.53M
Debt Issuance (Net)-1000K1000K1000K-1000K1000K1000K1000K1000K1000K3M
Share Repurchases-91.2M-10.72M0-37.27M-56.85M-87.99M-28.49M0-1.13M0
Other Financing285.98M1.57B1.82B-366.3M245.78M-70.07M-1.01B759.45M1.49B1.8B
Net Change in Cash
43.17M▲ 0%
-17.8M▼ 141.2%
44.21M▲ 348.3%
-46.35M▼ 204.8%
1.28M▲ 102.8%
52.88M▲ 4034.7%
169.22M▲ 220.0%
56.61M▼ 66.5%
-65.72M▼ 216.1%
24.03M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning34.48M77.65M59.84M104.06M57.7M58.98M111.87M281.08M337.69M0
Cash at End77.65M59.84M104.06M57.7M58.98M111.87M281.08M337.69M271.97M0
Free Cash Flow
223.05M▲ 0%
-573.75M▼ 357.2%
-2.99B▼ 420.3%
671.66M▲ 122.5%
-2.79B▼ 515.5%
1.78B▲ 163.9%
1.33B▼ 25.7%
-2.73B▼ 306.1%
142.29M▲ 105.2%
-9.15B▲ 0%
FCF Growth %135.73%-357.23%-420.27%122.5%-515.53%163.94%-25.72%-306.12%105.21%-209.32%
FCF / Revenue %49.68%-139.99%-313.17%47.69%-368.44%-1225.06%182.61%-541.44%8.15%-859.71%

PMT Key Ratios

PennyMac Mortgage Investment Trust (PMT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share2.673.566.960.530.58-0.731.791.851.490.87
FFO Payout Ratio63.27%46.78%23.11%289.42%323.59%-260.82%70.39%86.53%107.55%137.59%
NOI Margin68.83%65.94%75.43%76.33%59.24%220.51%83.18%75.4%91.61%88.95%
Net Debt / EBITDA29.71x17.92x47.40x-0.45x16.14x427.96x7.97x11.47x19.52x19.52x
Debt / Assets70.16%77.52%77.64%77.61%81.08%81.76%79.86%84.19%89.45%13.69%
Interest Coverage0.86x1.91x0.64x4.76x2.26x0.06x1.74x1.44x1.11x-
Book Value / Share20.722.5827.9423.1124.3121.4717.5222.3321.721.43
Revenue Growth44.35%-8.71%132.57%47.75%-46.21%-119.23%598.32%-30.48%245.81%79.98%

PMT SEC Filings & Documents

PennyMac Mortgage Investment Trust (PMT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Jan 29, 2026·SEC

Material company update

Dec 22, 2025·SEC

10-K Annual Reports

3
FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

PMT Frequently Asked Questions

PennyMac Mortgage Investment Trust (PMT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

PennyMac Mortgage Investment Trust (PMT) reported $1.06B in revenue for fiscal year 2025. This represents a 2909% increase from $35.4M in 2010.

PennyMac Mortgage Investment Trust (PMT) grew revenue by 245.8% over the past year. This is strong growth.

Yes, PennyMac Mortgage Investment Trust (PMT) is profitable, generating $132.4M in net income for fiscal year 2025 (7.3% net margin).

Dividend & Returns

Yes, PennyMac Mortgage Investment Trust (PMT) pays a dividend with a yield of 13.21%. This makes it attractive for income-focused investors.

PennyMac Mortgage Investment Trust (PMT) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.

Industry Metrics

PennyMac Mortgage Investment Trust (PMT) generated Funds From Operations (FFO) of $76.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

PennyMac Mortgage Investment Trust (PMT) offers a 13.21% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More PMT

PennyMac Mortgage Investment Trust (PMT) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

→

Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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