A Business at a Glance
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PennyMac Financial Services, Inc.
PFSI
$4.5B
Mkt Cap
$84.35
+2.11%
PennyMac Financial Services, Inc. (PFSI) has a current P/E ratio of 9.1, compared to its historical median P/E of 14.3. The stock is currently considered Fair based on its historical valuation range.
PennyMac Financial Services, Inc. (PFSI) has a 5-year average return on invested capital (ROIC) of 7.1%. This is below average and may indicate limited pricing power.
PennyMac Financial Services, Inc. (PFSI) has a market capitalization of $4.4B. It is classified as a mid-cap stock.
Yes, PennyMac Financial Services, Inc. (PFSI) pays a dividend with a trailing twelve-month yield of 1.44%. The company also returns capital through share buybacks, with a buyback yield of 0.11%.
Based on historical P/E analysis, PennyMac Financial Services, Inc. (PFSI) appears fair. The current P/E of 9.1 is 37% below its historical median of 14.3. The estimated fair value CAGR (P/E method) is -0.4%.
PennyMac Financial Services, Inc. (PFSI) operates in the Mortgage Bankers & Loan Correspondents industry, within the Financials sector.
Item 1. Business The following description of our business should be read in conjunction with the information included elsewhere in this Report. This description contains forward-looking statements that involve risks and uncertainties. Actual results could differ significantly from the projections and results discussed in the forward-looking statements due to the factors described under the caption “Risk Factors” and elsewhere in this Report. References in this Report to “we,” “our,” “us,” and the “Company” refer to PennyMac Financial Services, Inc. (“PFSI”) and its consolidated subsidiaries. Our Company We are a specialty financial services firm with a comprehensive mortgage platform and integrated business primarily focused on the production and servicing of U.S. residential mortgage loans (activities which we refer to as mortgage banking). We are also engaged in the management of investments related to the U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | -59M | - | - | - | - | - |
| Net Income | 507M | 501M | 311M | 145M | 476M | 1.0B |
| EPS | $9.78 | $9.30 | $5.84 | $2.74 | $8.50 | $14.87 |
| Free Cash Flow | -4.1B | -1.7B | -4.5B | -1.6B | 6.0B | 2.6B |
| ROIC | 0.0% | 5.1% | 3.7% | 1.9% | 6.9% | 17.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.44 | 1.45 | 1.37 | 1.25 | 1.08 | 0.91 |
| Dividends/Share | $1.22 | $1.20 | $1.00 | $0.80 | $0.80 | $0.78 |
| Operating Income | 0 | 551M | 401M | 184M | 665M | 1.4B |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 11.7% | 12.3% | 8.5% | 4.1% | 13.8% | 29.5% |
| Shares Outstanding | 52M | 54M | 53M | 53M | 56M | 67M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | N/A | N/A | 72M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -59M |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 342M | 359M | 403M | 503M | 739M | 1000M | 735M | 577M | 633M | 783M | 817M |
| EBIT | 383M | 336M | 268M | 529M | 2.2B | 1.4B | 665M | 184M | 401M | 551M | 0 |
| Op. Margin | 0.0% | N/A | 372.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | 66M | 101M | 88M | 393M | 1.6B | 1.0B | 476M | 145M | 311M | 501M | 507M |
| Net Margin | N/A | N/A | 122.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | -1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | N/A | 6.7% | 3.6% | 11.5% | 40.0% | 17.9% | 6.9% | 1.9% | 3.7% | 5.1% | 0.0% |
| ROE | N/A | 10.8% | 8.3% | 21.2% | 60.4% | 29.5% | 13.8% | 4.1% | 8.5% | 12.3% | 11.7% |
| ROA | 342.5% | 2.7% | 1.2% | 4.4% | 7.9% | 4.0% | 2.7% | 0.8% | 1.4% | 1.8% | 1.6% |
| Cash Flow | |||||||||||
| Op. Cash Flow | -938M | -883M | 572M | 2.2B | -6.2B | 2.6B | 6.0B | -1.6B | -4.5B | -1.7B | -4.1B |
| Free Cash Flow | -960M | -890M | 559M | 2.2B | -6.2B | 2.6B | 6.0B | -1.6B | -4.5B | -1.7B | -4.1B |
| Owner Earnings | -960M | -913M | 534M | 2.2B | -6.3B | 2.5B | 6.0B | -1.7B | -4.6B | -1.7B | -4.1B |
| CapEx | 22M | 6.8M | 13M | 6.1M | 11M | 7.9M | 7.2M | 1.4M | 1.7M | 12M | 14M |
| Maint. CapEx | 5.8M | 8.4M | 13M | 15M | 26M | 29M | 34M | 53M | 56M | 54M | 54M |
| Growth CapEx | 16M | 0 | 496K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 5.8M | 8.4M | 13M | 15M | 26M | 29M | 34M | 53M | 56M | 54M | 54M |
| CapEx/OCF | N/A | N/A | 2.3% | 0.3% | N/A | 0.3% | 0.1% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 10M | 9.7M | 31M | 53M | 55M | 41M | 52M | 63M | 63M |
| Dividend Yield | N/A | N/A | 1.5% | 0.5% | 1.0% | 1.3% | 1.9% | 1.2% | 1.0% | 1.1% | 1.4% |
| Share Buybacks | 0 | 8.6M | 5.3M | 1.1M | 337M | 958M | 406M | 71M | 0 | 4.7M | 4.7M |
| Buyback Yield | 0.0% | 0.6% | 0.4% | 0.0% | 7.1% | 21.5% | 13.6% | 1.6% | N/A | 0.1% | 0.1% |
| Stock-Based Comp | 16M | 21M | 25M | 25M | 45M | 38M | 43M | 28M | 21M | 36M | 28M |
| Debt Repayment | 12M | 22M | 20M | 6.6M | 30M | 38M | 20M | 33M | 36M | 60M | 60M |
| Balance Sheet | |||||||||||
| Net Debt | N/A | 3.8B | 3.7B | 5.9B | 748M | 2.8B | 2.4B | 3.5B | 4.6B | 5.5B | 5.6B |
| Cash & Equiv. | 100M | 38M | 156M | 189M | 533M | 340M | 1.3B | 938M | 238M | 302M | 654M |
| Long-Term Debt | N/A | 1.1B | 1.6B | 1.5B | 1.3B | 3.1B | 3.8B | 4.4B | 5.3B | 6.2B | 6.2B |
| Debt/Equity | N/A | 8.64 | 2.41 | 2.97 | 0.38 | 0.91 | 1.08 | 1.25 | 1.37 | 1.45 | 1.44 |
| Interest Coverage | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | N/A | 469M | 1.7B | 2.1B | 3.4B | 3.4B | 3.5B | 3.5B | 3.8B | 4.3B | 4.3B |
| Total Assets | 19M | 7.4B | 7.5B | 10.2B | 31.6B | 18.8B | 16.8B | 18.8B | 26.1B | 29.4B | 31.9B |
| Total Liabilities | N/A | 5.6B | 5.8B | 8.1B | 28.2B | 15.4B | 13.4B | 15.3B | 22.3B | 25.1B | 27.6B |
| Intangibles | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 265M | 343M | 726M | 2.3B | 3.3B | 3.5B | 3.5B | 3.8B | 4.2B | 4.3B |
| Working Capital | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||
| EPS | 2.94 | 4.03 | 2.59 | 4.89 | 20.92 | 14.87 | 8.50 | 2.74 | 5.84 | 9.30 | 9.78 |
| Owner EPS | -42.73 | -36.50 | 15.78 | 27.44 | -79.64 | 37.00 | 106.47 | -31.50 | -86.45 | -32.34 | -79.76 |
| Book Value | N/A | 18.78 | 48.84 | 25.65 | 43.05 | 50.65 | 62.05 | 67.03 | 71.82 | 79.97 | 83.31 |
| Cash Flow/Share | -41.75 | -35.33 | 16.91 | 27.94 | -78.74 | 37.98 | 107.85 | -29.97 | -85.01 | -30.66 | 10.81 |
| Dividends/Share | N/A | N/A | 0.40 | 0.12 | 0.39 | 0.78 | 0.80 | 0.80 | 1.00 | 1.20 | 1.22 |
| Shares Out. | 22.5M | 25.0M | 33.9M | 80.4M | 78.7M | 67.5M | 55.9M | 52.8M | 53.3M | 53.9M | 51.9M |
| Valuation | |||||||||||
| P/E Ratio | N/A | 15.3 | 17.6 | 6.4 | 2.9 | 4.4 | 6.3 | 31.7 | 17.2 | 14.3 | 8.6 |
| P/FCF | N/A | N/A | 1.2 | 1.1 | N/A | 1.7 | 0.5 | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | 13.6 | 18.2 | 11.3 | 2.4 | 4.0 | 5.4 | 30.0 | 16.8 | 23.0 | N/A |
| Price/Book | N/A | 3.3 | 0.9 | 1.2 | 1.4 | 1.3 | 0.9 | 1.3 | 1.4 | 1.7 | 1.0 |
| Price/Sales | N/A | N/A | 21.2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | -57.2% | 37.1% | 88.7% | -131.3% | 57.4% | 201.9% | -34.5% | -84.5% | -23.1% | -93.0% |
| Market Cap | 0 | 1.6B | 1.5B | 2.5B | 4.7B | 4.5B | 3.0B | 4.6B | 5.4B | 7.2B | 4.4B |
| Avg. Price | 0.00 | 15.98 | 19.42 | 23.86 | 40.13 | 59.48 | 51.11 | 65.85 | 94.36 | 107.71 | 84.35 |
| Year-End Price | 0.00 | 20.09 | 19.19 | 31.40 | 60.09 | 66.02 | 53.36 | 86.82 | 100.59 | 133.45 | 84.35 |
PennyMac Financial Services, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
PennyMac Financial Services, Inc. trades at 9.1x trailing earnings, compared to its 15-year median P/E of 14.3x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 7.1%. Total shareholder yield (dividends + buybacks) is 1.5%. At current prices, the estimated annualized return to fair value is +22.0%.
PennyMac Financial Services, Inc. (PFSI) generated $-1.7 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
PennyMac Financial Services, Inc. (PFSI) has a debt-to-equity ratio of 1.45. This indicates moderate leverage.
PennyMac Financial Services, Inc. (PFSI) reported earnings per share (EPS) of $9.30 in its most recent fiscal year.
PennyMac Financial Services, Inc. (PFSI) has a return on equity (ROE) of 12.3%. This indicates moderate shareholder returns.
The Ledger Terminal provides 10 years of financial data for PennyMac Financial Services, Inc. (PFSI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PennyMac Financial Services, Inc. (PFSI) has a book value per share of $79.97, based on its most recent annual SEC filing.