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PennyMac Mortgage Investment Trust

PMT Real Estate Reit Mortgage

PennyMac Mortgage Investment Trust’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 12.3% from fiscal 2024.

Revenue
−63.5%
EPS
−174.6%
Free cash flow
−95.6%
Total debt
+58.4%

Quarter to September 2026, against a year earlier

7.87 0.36 −4.37%
Market cap
$717.7M
P/E
17.9×
Fwd P/E
7.3×
Dividend yield
19.4%
F-score
3/9
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 0.02
Sold, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 — — — — — — — — — —
Sell — — — — — — — — 1 1 1 1
Insider Ownership 1.22%

Capital & Financial Ratios $m

Size
Market Cap 717.68
Revenue ttm 1,155.06
Net income ttm 82.53
Free cash flow ttm (11,314.69)
Net debt Q 21,904.14
Valuation
P/E 17.89
Forward P/E 7.33
Price / sales 0.62
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.58
Financial health
Current ratio Q 1.60
Debt / equity Q 12.46
Interest coverage Q 0.20
Growth
Revenue growth Q −63.48% (below 0%: shrinking)
Operating income growth Q −119.47% (below 0%: shrinking)
EPS, this year −20.67% (below 0%: weak)
EPS, next year A +77.66% (at or above 15%: strong)
Revenue, next year A −70.38% (below 0%: weak)
EPS, past 5 yrs +29.67% (at or above 15%: strong)
EPS, next 5 yrs A +12.59%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 19.6×, against a ten-year median of 11.8×; over the ten years it ranged from 5.9× in 2021 to 35.1× in 2020.
P/E against its own 10 years 84.04%
10-year low 10-year high
P/S against its own 10 years 1.17%
10-year low 10-year high
P/B against its own 10 years 2.02%
10-year low 10-year high
EV/Sales against its own 10 years 92.96%
10-year low 10-year high

Dividends

Yield
19.4%
Annual rate
1.60
Payout ratio
347.8%
Growth, 2017–25
−2.00%/yr
  1. 1.88 ’17
  2. 1.88 ’18 +0
  3. 1.88 ’19 +0
  4. 1.52 ’20 −19
  5. 1.88 ’21 +24
  6. 1.81 ’22 −4
  7. 1.60 ’23 −12
  8. 1.60 ’24 +0
  9. 1.60 ’25 +0
  10. 1.60 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 409 441 462 310
Receivables 0 16 19 15
Inventory — — — —
Other — — — —
2,512 4,767 11,714 17,597
2023 2024 2025 Q'26
Payables 355 139 168 141
ST’ Debt 5,625 6,501 8,019 8,382
Other — — — —
8,890 9,570 10,445 11,026

Compound Annual Growth %

10y 5y 3y
Sales 12.17% 9.74% 18.15%
Cash Flow 0.00% 0.00% 0.00%
Earnings (0.27%) 25.95% 0.00%
Book Value 2.35% (3.85%) (1.30%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.31 Actual 0.35

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.41 0.48 Beat by 0.07
Q1 FY26 0.36 0.16 Miss by 0.20
Q2 FY26 0.30 0.23 Miss by 0.07
Q3 FY26 0.31 0.35 Beat by 0.04
Q4 FY26 0.32 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.16 0.23 (0.41) — —
’25 (0.01) (0.04) 0.55 0.48 0.99
’24 0.39 0.17 0.36 0.41 1.37
’23 0.50 0.16 0.51 0.44 1.63
’22 (0.32) (0.88) 0.01 (0.07) (1.26)
’21 0.67 0.32 (0.45) (0.28) 0.26
’20 (5.99) 4.51 0.94 0.78 0.27
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 82 73 36 — —
’25 44 70 99 964 1,178
’24 74 71 81 823 1,049
’23 90 90 163 821 1,165
’22 82 22 151 460 714
’21 278 201 123 123 725
’20 (425) 619 280 266 740
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (2,529) (2,939) (2,742) — —
’25 (594) (2,016) (1,298) (3,306) (7,213)
’24 (342) 244 (984) (1,621) (2,703)
’23 (1,276) 2,020 64 533 1,340
’22 1,747 (69) (402) 509 1,784
’21 (1,869) (999) 154 (105) (2,820)
’20 1,705 903 (1,955) 19 672
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (2,530) (2,941) (2,538) — —
’25 (594) (2,015) (1,298) (3,305) (7,213)
’24 (502) 377 (985) (1,621) (2,731)
’23 (1,275) 2,021 50 534 1,331
’22 1,750 (69) (398) 509 1,792
’21 (3,116) (914) 139 1,608 (1,106)
’20 106 2,346 (1,762) 26 715
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
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 422 469 526 786 740 725 714 1,165 1,049 1,178 1,155 +12.1% 349 392 435 (28.3%)
Gross margin, % 83.11 86.01 87.36 89.15 86.26 83.66 84.18 90.55 89.33 90.48 90.73 +7.4 pt
EBT 62 125 158 191 80 45 63 244 143 94 63 +4.8%
EBT margin, % 14.64 26.54 30.02 24.25 10.77 6.16 8.83 20.98 13.60 7.97 5.49 (6.7) pt
Net income 76 118 153 226 52 57 (73) 200 161 128 83 +6.0%
Per share, $
Per share, $ Revenue 6.15 7.10 8.64 9.95 7.45 7.44 7.81 13.33 12.08 13.54 13.25 +9.2%
Earnings 1.09 1.53 2.09 2.54 0.27 0.26 (1.26) 1.80 1.37 0.99 0.46 (1.1%)
Cash flow (9.05) 3.37 (9.42) (37.79) 6.76 (28.95) 19.52 15.34 (31.13) (82.92) (132.07) +27.9%
Capex 3.38 2.54 1.63 0.95 0.44 17.59 0.09 (0.11) (0.32) 0.00 2.32 (52.6%)
Free cash flow (5.67) 5.91 (7.79) (36.84) 7.20 (11.36) 19.60 15.23 (31.46) (82.92) (129.75) +34.7%
Book value 19.68 23.35 25.72 31.03 23.11 24.31 21.47 22.40 22.33 21.70 20.45 +1.1%
Shares, m 69 66 61 79 99 97 91 87 87 87 87 +2.7%
Valuation, ×
Valuation, × P/E 15.07 10.33 8.91 8.71 54.97 66.65 0.00 8.33 9.19 12.81 17.89 19.5
P/S 2.70 2.24 2.15 2.24 2.36 2.33 1.63 1.13 1.04 0.93 0.62 1.9
P/B 0.84 0.85 0.90 0.82 0.88 0.92 0.82 0.93 0.78 0.81 0.58 0.9
EV/Sales 12.78 10.09 12.31 11.32 11.11 14.01 13.13 7.26 9.35 14.83 19.58 11.6
EV/FCF (13.84) 12.11 (13.69) (3.06) 11.49 (4.45) 2.63 6.36 (3.59) (2.42) (2.00) (0.8)
Cash, $m
Cash, $m Operating cash flow (622) 223 (574) (2,985) 672 (2,820) 1,784 1,340 (2,703) (7,213) (11,517) +31.3%
Capex 232 168 99 75 44 1,713 8 (9) (28) 0 202 (51.3%)
Free cash flow (389) 391 (475) (2,910) 715 (1,106) 1,792 1,331 (2,731) (7,213) (11,315) +38.3%
Balance, $m
Balance, $m Working capital (315) (931) (3,233) (3,927) (4,543) (3,257) (5,878) (6,378) (4,803) 1,268 6,571 n/m
Net debt 4,253 3,684 5,346 7,141 6,473 8,467 8,214 7,152 8,718 16,374 21,904 +16.2%
Shareholders’ equity 1,351 1,545 1,566 2,451 2,297 2,368 1,963 1,957 1,939 1,887 1,783 +3.8%
Returns, %
Returns, % ROA 1.24 1.70 1.89 2.05 0.23 0.20 (0.83) 1.17 0.87 0.48 0.18 (0.8) pt
ROIC 2.79 3.67 3.29 3.41 2.84 2.33 3.13 6.92 5.21 3.38 2.53 +0.6 pt
ROE 5.33 7.82 10.12 11.75 1.31 1.34 (7.09) 11.13 8.47 6.27 3.16 +0.9 pt
People
People Employees 3 3 3 1 1 1 — 7 7 7 — +9.9%
Revenue/emp, $m 140.62 156.44 175.41 786.26 740.12 725.03 0.00 166.43 149.84 168.27 — +2.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

PennyMac Mortgage Investment Trust vs peers in Reit Mortgage (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
ORC Orchid Island Capital, Inc. $963.0M 99.6× — (loss-making) +51.35% (above 0%: growing) n/m +132.66% (above 0%: growing) 100.00% (45.05%) Compare
PMT PennyMac Mortgage Investment Trust $717.7M 17.9× 7.3× −63.48% (below 0%: shrinking) n/m −95.57% (below 0%: shrinking) 24.92% (28.21%)
CIM Chimera Investment Corporation $663.0M — (loss-making) — (loss-making) +10.32% (above 0%: growing) n/m −191.20% (below 0%: shrinking) 100.00% 0.00% Compare
MFA MFA Financial, Inc. $662.1M — (loss-making) 7.3× +9.75% (above 0%: growing) n/m +498.41% (above 0%: growing) 100.00% 0.00% Compare
IVR INVESCO MORTGAGE CAPITAL INC $595.7M — (loss-making) 6.8× +35.72% (above 0%: growing) n/m +3.93% (above 0%: growing) 34.28% 29.04% Compare
ADAM Adamas Trust, Inc. $534.6M — (loss-making) 5.0× +12.82% (above 0%: growing) n/m −119.68% (below 0%: shrinking) 25.11% (89.42%) Compare
TRTX TPG RE Finance Trust, Inc. $532.3M 16.3× 12.3× −5.07% (below 0%: shrinking) −46.65% (below 0%: shrinking) −40.71% (below 0%: shrinking) 100.00% 50.23% Compare
FBRT Franklin BSP Realty Trust, Inc. $475.2M — (loss-making) 12.7× −16.32% (below 0%: shrinking) n/m +34.53% (above 0%: growing) 92.17% 25.20% Compare
BRSP BrightSpire Capital, Inc. $431.4M 23.7× 11.9× −5.94% (below 0%: shrinking) +3,762.00% (above 0%: growing) +122.61% (above 0%: growing) 61.25% (26.51%) Compare
Median of peers $565.2M 23.7× 9.6× +10.04% — +19.23% 96.09% 0.00%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 21 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.40m 1.51m 129.60
2024 999.99k 753.68k 114.40
2023 999.99k 1.68m 120.90
2022 999.99k 649.98k 88.80
2021 999.98k 158.20k 108.60

Ownership

Directors and executive officers, together 1.00%
BlackRock, Inc. 16.40%
T. Rowe Price Investment Management, Inc. 6.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PennyMac Mortgage Investment Trust (PMT) Latest News

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30 Jul

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29 Jul

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22 Jul

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24 Jun

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26 May

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6 May

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4 May

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29 Apr

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21 Apr

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27 Mar

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18 Mar

Impact 3 · · Business Wire

11 Mar

Impact 3 ·

2 Mar

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.StockStoryMT NewswiresZacks
stockrow.com/PMT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com