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PennyMac Financial Services, Inc.

PFSI Financial Mortgage Finance

PennyMac Financial Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 28.4% from fiscal 2024.

Revenue
−25.9%
EPS
−84.3%
Free cash flow
+218.4%
Total debt
+7.47%

Quarter to September 2026, against a year earlier

65.59 1.50 −2.24%
Market cap
$3.5B
P/E
14.2×
Fwd P/E
15.8×
Dividend yield
1.84%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.20
Sold, $m 8.76
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell 2 1 3 2 1 2 1 1 — — — —
Insider Ownership 34.15%

Capital & Financial Ratios $m

Size
Market Cap 3,490.00
Revenue ttm 2,048.73
Net income ttm 239.53
Free cash flow ttm (307.60)
Net debt Q 12,960.34
Valuation
P/E 14.16
Forward P/E 15.80
Price / sales 1.65
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.78
Financial health
Current ratio Q 0.29
Debt / equity Q 3.12
Interest coverage Q —
Growth
Revenue growth Q −25.93% (below 0%: shrinking)
Operating income growth Q −74.25% (below 0%: shrinking)
EPS, this year −60.04% (below 0%: weak)
EPS, next year A +102.19% (at or above 15%: strong)
Revenue, next year A −0.91% (below 0%: weak)
EPS, past 5 yrs −14.97% (below 0%: weak)
EPS, next 5 yrs A +8.08%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 82.44%
10-year low 10-year high
P/S against its own 10 years 57.55%
10-year low 10-year high
P/B against its own 10 years 34.02%
10-year low 10-year high

Dividends

Yield
1.84%
Annual rate
1.20
Payout ratio
27.0%
Growth, 2019–26
+38.9%/yr
  1. 0.12 ’19
  2. 0.54 ’20 +350
  3. 0.80 ’21 +48
  4. 0.80 ’22 +0
  5. 0.80 ’23 +0
  6. 1.00 ’24 +25
  7. 1.20 ’25 +20
  8. 1.20 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 949 659 712 646
Receivables — — — —
Inventory — — — —
Other — — — —
949 659 712 646
2023 2024 2025 Q'26
Payables 450 354 644 502
ST’ Debt — — — —
Other — — — —
2,558 2,552 2,111 2,246

Compound Annual Growth %

10y 5y 3y
Sales 11.12% (11.20%) 1.01%
Cash Flow 0.00% 0.00% 0.00%
Earnings 26.64% (21.18%) 1.76%
Book Value 15.03% 4.92% 7.47%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.37 Actual 1.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 3.23 1.97 Miss by 1.26
Q1 FY26 2.22 2.19 Miss by 0.03
Q2 FY26 2.08 1.39 Miss by 0.69
Q3 FY26 1.37 1.05 Miss by 0.32
Q4 FY26 1.16 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.53 0.41 0.54 — —
’25 1.42 2.54 3.37 1.97 9.30
’24 0.74 1.85 1.30 1.95 5.84
’23 0.57 1.11 1.77 (0.74) 2.74
’22 2.94 2.28 2.46 0.71 8.50
’21 5.15 2.94 3.80 2.79 14.87
’20 3.73 4.39 7.03 5.97 20.92
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 545 497 469 — —
’25 431 445 633 538 2,047
’24 306 406 412 470 1,594
’23 303 337 400 362 1,402
’22 658 512 476 340 1,986
’21 945 742 787 694 3,167
’20 722 822 1,120 1,042 3,706
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,342) 2,143 854 — —
’25 1,066 (131) (697) (1,889) (1,652)
’24 (898) (1,093) (394) (2,149) (4,533)
’23 (3,265) 2,228 (976) 430 (1,582)
’22 4,427 1,704 (588) 489 6,033
’21 (1,248) 2,580 1,438 (207) 2,563
’20 (730) 1,096 (4,289) (2,275) (6,199)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,360) 2,127 838 — —
’25 1,058 (142) (708) (1,912) (1,703)
’24 (903) (1,098) (398) (2,156) (4,555)
’23 (3,276) 2,219 (985) 424 (1,617)
’22 4,405 1,683 (613) 475 5,950
’21 (1,180) 2,566 1,427 (226) 2,587
’20 (762) 1,083 (4,294) (2,284) (6,257)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 932 955 985 1,477 3,706 3,167 1,986 1,402 1,594 2,047 2,049 +9.1% 2,028 2,286 2,304 +4.0%
Gross margin, % 88.37 85.54 83.29 80.91 87.14 86.09 88.25 86.88 83.05 81.70 76.78 (6.7) pt
EBT 383 336 268 529 2,241 1,359 665 184 401 551 313 +4.1%
EBT margin, % 41.11 35.16 27.19 35.84 60.47 42.91 33.50 13.10 25.16 26.94 15.29 (14.2) pt
Net income 337 312 244 393 1,647 1,003 476 145 311 501 240 +4.5%
Per share, $
Per share, $ Revenue 42.05 41.19 29.37 18.89 49.30 49.65 37.42 28.05 31.26 39.56 39.43 (0.7%)
Earnings 2.98 4.34 2.62 5.02 21.91 15.73 8.96 2.89 6.11 9.69 4.60 +14.0%
Cash flow (42.34) (38.08) 17.07 (28.71) (82.48) 40.17 113.70 (31.66) (88.91) (31.94) (4.50) (3.1%)
Capex (1.38) (8.47) (7.32) (3.06) (0.77) 0.38 (1.57) (0.70) (0.43) (0.99) (1.42) (3.6%)
Free cash flow (43.72) (46.55) 9.75 (31.77) (83.24) 40.55 112.13 (32.36) (89.34) (32.93) (5.92) (3.1%)
Book value 63.15 74.13 49.33 26.36 45.10 53.58 65.41 70.80 75.11 83.30 83.86 +3.1%
Shares, m 22 23 34 78 75 64 53 50 51 52 52 +9.9%
Valuation, ×
Valuation, × P/E 5.60 5.37 8.05 6.78 2.97 4.49 6.54 30.28 16.72 13.62 14.16 10.0
P/S 0.40 0.56 0.72 1.80 1.33 1.41 1.54 3.13 3.27 3.33 1.65 1.7
P/B 0.27 0.31 0.43 1.29 1.46 1.30 0.88 1.24 1.36 1.58 0.78 1.0
EV/Sales 2.80 3.41 2.96 4.78 4.12 4.31 3.42 7.26 10.60 9.98 — 5.4
EV/FCF (2.69) (3.01) 8.91 (2.84) (2.44) 5.28 1.14 (6.27) (3.71) (11.97) — (1.8)
Cash, $m
Cash, $m Operating cash flow (938) (883) 572 (2,245) (6,199) 2,563 6,033 (1,582) (4,533) (1,652) (234) +6.5%
Capex (31) (196) (245) (239) (58) 24 (83) (35) (22) (51) (74) +5.9%
Free cash flow (969) (1,080) 327 (2,485) (6,257) 2,587 5,950 (1,617) (4,555) (1,703) (308) +6.5%
Balance, $m
Balance, $m Working capital (390) (995) (1,333) (1,347) (1,244) (1,572) (1,181) (1,609) (1,893) (1,400) (1,600) +15.3%
Net debt 2,236 2,715 2,202 4,405 10,319 9,205 3,730 5,783 11,688 13,612 12,960 +22.2%
Shareholders’ equity 1,399 1,720 1,654 2,062 3,389 3,418 3,471 3,539 3,830 4,309 4,357 +13.3%
Returns, %
Returns, % ROA 1.53 1.61 1.18 4.44 7.88 3.98 2.67 0.81 1.39 1.81 0.87 +0.3 pt
ROIC 7.27 5.48 5.34 5.66 10.51 7.16 6.57 2.81 1.94 2.24 1.51 (5.0) pt
ROE 5.37 6.46 5.20 21.15 60.43 29.48 13.80 4.13 8.45 12.31 5.59 +6.9 pt
People
People Employees 3,038 3,189 3,460 4,215 4,000 6,900 4,000 3,900 4,100 4,900 — +5.5%
Revenue/emp, $m 0.31 0.30 0.28 0.35 0.93 0.46 0.50 0.36 0.39 0.42 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

PennyMac Financial Services, Inc. vs peers in Mortgage Finance (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RKT Rocket Companies, Inc. $42.1B 32.8× 31.0× +104.57% (above 0%: growing) n/m +7,729.63% (above 0%: growing) 100.00% 40.10% Compare
PFSI PennyMac Financial Services, Inc. $3.5B 14.2× 15.8× −25.93% (below 0%: shrinking) −84.29% (below 0%: shrinking) +218.40% (above 0%: growing) 76.86% 14.29%
UWMC UWM Holdings Corporation $2.6B — (loss-making) — (loss-making) −81.06% (below 0%: shrinking) n/m +64.57% (above 0%: growing) 24.81% (192.94%) Compare
WD Walker & Dunlop, Inc. $1.4B — (loss-making) 35.2× −11.62% (below 0%: shrinking) n/m +175.64% (above 0%: growing) 44.82% (10.67%) Compare
VEL Velocity Financial, Inc. $689.0M 6.3× 12.1× +34.05% (above 0%: growing) +3.03% (above 0%: growing) −152.77% (below 0%: shrinking) 0.00% 0.00% Compare
BETR Better Home & Finance Holding Company $360.6M — (loss-making) — (loss-making) +25.81% (above 0%: growing) n/m +136.12% (above 0%: growing) 89.80% 0.00% Compare
ONIT Onity Group Inc. $269.2M 2.0× 13.2× −0.78% (below 0%: shrinking) −80.82% (below 0%: shrinking) +306.19% (above 0%: growing) 100.00% 0.00% Compare
LDI loanDepot, Inc. $211.5M — (loss-making) — (loss-making) +19.39% (above 0%: growing) n/m +589.11% (above 0%: growing) 87.77% 10.45% Compare
GHI Greystone Housing Impact Investors LP $103.1M — (loss-making) 3.2× −7.10% (below 0%: shrinking) n/m −92.85% (below 0%: shrinking) 93.66% 60.90% Compare
Median of peers $524.8M 6.3× 13.2× +9.31% — +155.88% 88.79% 0.00%

All 13 Mortgage Finance stocks →

PennyMac Financial Services, Inc. (PFSI) Latest News

4 Nov

Impact 3 · · Simply Wall St.
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2 Nov

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30 Oct

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29 Oct

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Impact 3 · · Associated Press

28 Oct

Impact 3 · · Simply Wall St.

27 Oct

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22 Oct

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19 Oct

Impact 4 · · Business Wire
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13 Oct

Impact 3 · · Business Wire

10 Oct

Impact 4 · · 24/7 Wall St.

9 Oct

Impact 3 · · StockStory

8 Oct

Impact 3 · · TechCrunch

7 Oct

Impact 3 · · Business Wire

6 Oct

Impact 4 · · Simply Wall St.

5 Oct

Impact 4 · · Business Wire

29 Sep

Impact 3 · · Business Wire

21 Sep

Impact 3 · · Business Wire

PFSI metrics, ten years each

stockrow.com/PFSI · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com