PennyMac Mortgage Investment Trust (PMT) Financial Ratios
16 years of historical data (2010–2025) · Real Estate · REIT - Mortgage
EV/EBITDA
↑
20.61
↓-81% vs avg
5yr avg: 106.41
30Y Low0.9·High94.2
P/FCF
↑
7.42
↑+133% vs avg
5yr avg: 3.19
30Y Low0.6·High7.7
P/B Ratio
↓
0.56
↓-15% vs avg
5yr avg: 0.66
30Y Low0.6·High1.1
ROE
↑
6.7%
↓+38% vs avg
5yr avg: 4.8%
30Y Low-3%·High16%
Debt/EBITDA
↑
19.80
↓-80% vs avg
5yr avg: 97.64
30Y Low1.7·High47.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PMT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
PennyMac Mortgage Investment Trust trades at 12.3x earnings, 50% below its 5-year average of 24.4x, sitting at the 60th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a discount of 49%. On a free-cash-flow basis, the stock trades at 7.4x P/FCF, 133% above the 5-year average of 3.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.1B | $1.1B | $1.7B | $1.1B | $1.7B | $1.7B | $2.0B | $1.3B | $1.2B | $1.3B |
| Enterprise Value | $19.9B | $19.9B | $12.9B | $11.9B | $12.4B | $12.8B | $1.2B | $11.0B | $7.3B | $5.1B | $6.1B |
| P/E Ratio → | 12.25 | 12.68 | 9.19 | 9.17 | — | 66.65 | 65.15 | 9.21 | 8.46 | 10.86 | 15.16 |
| P/S Ratio | 0.60 | 0.63 | 2.17 | 2.30 | — | 2.23 | 1.24 | 2.05 | 3.15 | 2.67 | 4.06 |
| P/B Ratio | 0.56 | 0.58 | 0.56 | 0.85 | 0.58 | 0.71 | 0.76 | 0.80 | 0.82 | 0.78 | 0.93 |
| P/FCF | 7.42 | 7.67 | — | 1.26 | 0.63 | — | 2.60 | — | — | 5.38 | — |
| P/OCF | 7.42 | 7.67 | — | 1.25 | 0.63 | — | 2.60 | — | — | 5.37 | — |
P/E links to full P/E history page with 30-year chart
PMT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
PennyMac Mortgage Investment Trust's enterprise value stands at 20.6x EBITDA, 81% below its 5-year average of 106.4x. The Real Estate sector median is 16.7x, placing the stock at a 24% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.41 | 25.54 | 16.34 | — | 16.89 | 0.83 | 11.53 | 17.78 | 11.26 | 19.54 |
| EV / EBITDA | 20.61 | 20.65 | 12.54 | 9.27 | 470.98 | 18.59 | 0.90 | 57.65 | 21.78 | 38.95 | 94.24 |
| EV / EBIT | 14.43 | 20.65 | 12.54 | 9.27 | 470.98 | 18.59 | 0.90 | 57.65 | 21.78 | 38.95 | 94.24 |
| EV / FCF | — | 139.96 | — | 8.95 | 6.95 | — | 1.73 | — | — | 22.66 | — |
PMT Profitability
Margins and return-on-capital ratios measuring operating efficiency
PennyMac Mortgage Investment Trust earns an operating margin of 79.0%, significantly above the Real Estate sector average of 26.0%. Operating margins have expanded from 76.9% to 79.0% over the past 3 years, signaling improving operational efficiency. ROE of 6.7% is modest. ROIC of 6.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.6% | 91.6% | 75.4% | 83.2% | 220.5% | 59.2% | 76.3% | 75.4% | 65.9% | 68.8% | 49.3% |
| Operating Margin | 79.0% | 79.0% | 65.7% | 76.9% | 253.9% | 52.0% | 73.0% | 70.1% | 56.4% | 60.5% | 37.8% |
| Net Profit Margin | 7.3% | 7.3% | 31.9% | 27.5% | 50.3% | 7.5% | 3.7% | 23.7% | 37.3% | 26.2% | 24.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.7% | 6.7% | 8.3% | 10.2% | -3.4% | 2.4% | 2.2% | 11.3% | 9.8% | 8.1% | 5.3% |
| ROA | 0.7% | 0.7% | 1.2% | 1.5% | -0.5% | 0.4% | 0.4% | 2.3% | 2.3% | 2.0% | 1.2% |
| ROIC | 6.0% | 6.0% | 1.9% | 3.3% | -2.1% | 2.7% | 7.8% | 5.3% | 2.7% | 3.5% | 1.5% |
| ROCE | 13.2% | 13.2% | 4.6% | 8.2% | -5.4% | 4.8% | 14.5% | 10.8% | 3.5% | 4.7% | 2.0% |
PMT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
PennyMac Mortgage Investment Trust carries a Debt/EBITDA ratio of 19.8x, which is highly leveraged (152% above the sector average of 7.9x). Net debt stands at $18.8B ($19.1B total debt minus $272M cash). Interest coverage of just 1.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 10.12 | 10.12 | 6.26 | 5.35 | 5.80 | 4.72 | 3.89 | 3.73 | 3.87 | 2.55 | 3.59 |
| Debt / EBITDA | 19.80 | 19.80 | 11.80 | 8.19 | 432.21 | 16.22 | 6.93 | 47.94 | 18.10 | 30.31 | 75.20 |
| Net Debt / Equity | — | 9.97 | 6.08 | 5.21 | 5.74 | 4.69 | -0.25 | 3.69 | 3.83 | 2.50 | 3.56 |
| Net Debt / EBITDA | 19.52 | 19.52 | 11.47 | 7.97 | 427.96 | 16.14 | -0.45 | 47.40 | 17.92 | 29.71 | 74.66 |
| Debt / FCF | — | 132.28 | — | 7.69 | 6.32 | — | -0.87 | — | — | 17.28 | — |
| Interest Coverage | 1.11 | 1.11 | 1.44 | 1.74 | 0.06 | 2.26 | 4.76 | 0.64 | 1.91 | 0.86 | 0.43 |
PMT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.03x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.03 | 0.03 | — | — | — | 0.03 | 1.60 | 0.00 | 1.96 | 3.52 | 0.53 |
| Quick Ratio | 0.03 | 0.03 | — | — | — | 0.03 | 1.60 | 0.00 | 4.33 | 7.68 | 0.65 |
| Cash Ratio | 0.06 | 0.06 | 0.06 | 0.07 | 0.05 | 0.03 | 1.53 | 0.03 | 1.91 | 3.52 | 0.53 |
| Asset Turnover | — | 0.08 | 0.04 | 0.06 | -0.01 | 0.05 | 0.12 | 0.08 | 0.05 | 0.08 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PMT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
PennyMac Mortgage Investment Trust returns 13.3% to shareholders annually — split between a 13.2% dividend yield and 0.1% buyback yield. The payout ratio exceeds 100% at 109.0%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 8.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.2% | 12.8% | 12.7% | 8.4% | 15.3% | 10.9% | 8.7% | 7.2% | 8.9% | 10.5% | 10.4% |
| Payout Ratio | 109.0% | 109.0% | 86.5% | 70.4% | — | 323.6% | 289.4% | 62.3% | 75.7% | 107.1% | 173.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.2% | 7.9% | 10.9% | 10.9% | — | 1.5% | 1.5% | 10.9% | 11.8% | 9.2% | 6.6% |
| FCF Yield | 13.5% | 13.0% | — | 79.4% | 157.5% | — | 38.4% | — | — | 18.6% | — |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 1.7% | 7.8% | 3.4% | 2.1% | 0.0% | 0.8% | 7.6% | 7.8% |
| Total Shareholder Yield | 13.3% | 12.9% | 12.7% | 10.1% | 23.1% | 14.3% | 10.8% | 7.2% | 9.8% | 18.1% | 18.2% |
| Shares Outstanding | — | $87M | $87M | $112M | $91M | $97M | $99M | $88M | $69M | $75M | $77M |
Peer Comparison
Compare PMT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PMTYou | $1B | 12.3 | 20.6 | 7.4 | 91.6% | 79.0% | 6.7% | 6.0% | 19.8 |
 MFA | $975M | 5.7 | 17.0 | 12.8 | 96.2% | 78.8% | 9.6% | 4.4% | 15.9 |
 MITT | $251M | 8.8 | 18.3 | 4.2 | 94.7% | 96.9% | 8.8% | 4.5% | 17.9 |
 EARN | $180M | 19.9 | 100.2 | 19.7 | 31.3% | 14.0% | 4.0% | 0.7% | 79.3 |
 CIM | $1B | 5.0 | 18.0 | — | 94.9% | 93.2% | 9.0% | 4.1% | 16.9 |
 IVR | $577M | 5.2 | 19.1 | 3.7 | 96.7% | 94.5% | 13.3% | 4.0% | 17.5 |
 EFC | $1B | 11.0 | 39.3 | 2.6 | 84.3% | 61.6% | 8.5% | 3.1% | 37.0 |
 GPMT | $66M | -1.2 | 20.6 | 24.8 | 83.0% | 43.6% | -7.0% | 2.6% | 20.6 |
 AGNC | $10B | 11.5 | 2.4 | 111.9 | 100.0% | 79.6% | 9.6% | 34.0% | 0.0 |
 NLY | $16B | 7.7 | 18.3 | — | 99.9% | 102.6% | 14.1% | 6.4% | 16.3 |
 TWO | $1B | -2.8 | 197.8 | 14.5 | 97.9% | 68.7% | -23.2% | 3.1% | 188.0 |
| Real Estate Median | — | 24.1 | 16.7 | 15.4 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 16 years · Updated daily
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Start ComparisonPMT — Frequently Asked Questions
Quick answers to the most common questions about buying PMT stock.
What is PennyMac Mortgage Investment Trust's P/E ratio?
PennyMac Mortgage Investment Trust's current P/E ratio is 12.3x. The historical average is 17.6x. This places it at the 60th percentile of its historical range.
What is PennyMac Mortgage Investment Trust's EV/EBITDA?
PennyMac Mortgage Investment Trust's current EV/EBITDA is 20.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 29.1x.
What is PennyMac Mortgage Investment Trust's ROE?
PennyMac Mortgage Investment Trust's return on equity (ROE) is 6.7%. The historical average is 8.3%.
Is PMT stock overvalued?
Based on historical data, PennyMac Mortgage Investment Trust is trading at a P/E of 12.3x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is PennyMac Mortgage Investment Trust's dividend yield?
PennyMac Mortgage Investment Trust's current dividend yield is 13.21% with a payout ratio of 109.0%.
What are PennyMac Mortgage Investment Trust's profit margins?
PennyMac Mortgage Investment Trust has 91.6% gross margin and 79.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does PennyMac Mortgage Investment Trust have?
PennyMac Mortgage Investment Trust's Debt/EBITDA ratio is 19.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.