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. In the quarter to June 2026, revenue grew 11.8%, EPS fell 84.1%, free cash flow grew 1,600.3% and total debt rose 14.2%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
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PennyMac Financial Services, Inc. (PFSI) Piotroski F-score
PennyMac Financial Services, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 3.00 |
| FY2024 | 2 | 0.00 |
| FY2023 | 2 | (5.00) |
| FY2022 | 7 | 2.00 |
| FY2021 | 5 | (2.00) |
| FY2020 | 7 | 4.00 |
| FY2019 | 3 | (1.00) |
| FY2018 | 4 | 1.00 |
| FY2017 | 3 | 1.00 |
| FY2016 | 2 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 1.81% | 1.39% | Pass | 1 |
| Positive operating cash flow | (1.65b) | (4.53b) | Fail | 0 |
| Rising return on assets | 1.81% | 1.39% | Pass | 1 |
| Cash flow above net income | (2.15b) | (4.84b) | Fail | 0 |
| Falling long-term leverage | 0.52 | 0.55 | Pass | 1 |
| Rising current ratio | 0.34 | 0.26 | Pass | 1 |
| No new shares issued | 51,728,000 | 50,990,000 | Fail | 0 |
| Rising gross margin | 81.70% | 83.05% | Fail | 0 |
| Rising asset turnover | 0.07 | 0.07 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| PFSI PennyMac Financial Services, Inc. | 5 |
| BETR Better Home & Finance Holding Company compare | 4 |
| ONIT Onity Group Inc. compare | 4 |
| LDI loanDepot, Inc. compare | 4 |
| UWMC UWM Holdings Corporation compare | 3 |
| GHI Greystone Housing Impact Investors LP compare | 3 |
| RKT Rocket Companies, Inc. compare | 1 |
| VEL Velocity Financial, Inc. compare | — |
| WD Walker & Dunlop, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover