← PennyMac Mortgage Investment Trust
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $68.9m |
$93.7m
+35.94%
|
$83.9m
-10.46%
|
$20.4m
-75.64%
|
$0
-100.00%
|
$0 | $0 | $0 | ($60.5m) |
$148.3m
+345.15%
|
$203.9m
+37.44%
|
|
| Gain (Loss) on Sales of Mortgage Backed Securities (MBS) | — | — | — | — | — | — | — | — | ($60.7m) | $148.3m | — | |
| Interest Income (Expense), Net | $72.4m | $43.8m | $47.6m |
$20.4m
-57.06%
|
($48.6m)
-337.95%
|
($109.5m)
-125.14%
|
($26.6m)
+75.68%
|
($96.1m)
-260.78%
|
($79.4m)
+17.35%
|
($19.5m)
+75.46%
|
$1.1b
+5534.15%
|
|
| Loan fulfillment fees | $86.5m | $80.4m | $81.3m | $160.6m | $444.4m | $357.9m | $136.0m | $55.7m | $52.6m | $47.6m | — | |
| Labor and Related Expense | $7.0m | $6.3m | $6.8m | $6.9m | $3.9m | $4.0m | $5.9m | $7.1m | $5.6m | $11.9m | — | |
| Operating Expenses | $210.3m | $193.4m | $193.1m | $298.2m | $389.6m | $375.6m | $240.7m | $184.6m | $191.5m | $213.6m | — | |
| Other Operating Income (Expense), Net | — | — | — | ($15.0m) | ($11.5m) | ($13.9m) | ($18.6m) | ($19.0m) | ($20.4m) | ($12.9m) | — | |
| Interest Expense | $149.8m | $151.4m | $175.2m | $297.4m | $270.8m | $304.7m | $410.4m | $736.0m | $714.7m | $870.4m | $1.1b | |
| Interest Expense, Securities Sold under Agreements to Repurchase | — | — | — | $178.2m | $102.1m | $97.1m | $165.4m | $378.4m | $331.8m | $352.7m | $1.1b | |
| Net interest expense | $72.4m | $43.8m | $47.6m | $20.4m | ($48.6m) | ($109.5m) | ($26.6m) | ($96.1m) | ($79.4m) | ($19.5m) | — | |
| Interest Income, Operating | $222.1m | $195.2m | $222.8m | $317.9m | $222.1m | $195.2m | $383.8m | $639.9m | $635.3m | $850.9m | $1.1b | |
| Debt Securities, Gain (Loss) | — | — | — | — | — | — | — | — | ($80.8m) | $148.3m | — | |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | — | — | — | $160.2m | $0 | $0 | $0 | — | — | — | — | |
| Gain (Loss) on Investments | — | — | — | $263.3m | ($170.9m) | $304.1m | ($658.8m) | $178.1m | $61.0m | $213.1m | — | |
| Other Income | — | — | — | $5.0m | $2.5m | $718k | $1.4m | $472k | $228k | $243k | — | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $61.8m | $124.5m | $158.0m | $190.6m | $79.7m | $44.7m | $63.1m | $244.4m | $142.6m | $93.8m | $126.8m | |
| (Benefit from) provision for income taxes | ($14.0m) | $6.8m | $5.2m | ($35.7m) | $27.4m | ($12.2m) | $136.4m | $44.7m | ($18.3m) | ($34.1m) | — | |
| Current Income Tax Expense (Benefit) | — | — | — | ($108k) | $12k | $11k | ($5k) | $6k | $1.1m | $5.2m | ($39.4m) | |
| Net Income (Loss) Attributable to Parent | $75.8m |
$102.5m
+35.18%
|
$127.9m
+24.76%
|
$226.4m
+77.04%
|
$52.4m
-76.86%
|
$56.9m
+8.56%
|
($73.3m)
-228.90%
|
$199.7m
+372.43%
|
$161.0m
-19.37%
|
$127.9m
-20.57%
|
$124.4m
-2.70%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | $75.8m |
$102.5m
+35.18%
|
$127.9m
+24.76%
|
$200.9m
+57.09%
|
$27.1m
-86.48%
|
$25.6m
-5.54%
|
($115.5m)
-550.43%
|
$157.4m
+236.24%
|
$118.7m
-24.55%
|
$85.9m
-27.66%
|
$124.4m
+44.84%
|
|
| Preferred Stock Dividends, Income Statement Impact | — | — | — | $25 | $25 | $31 | $42 | $42 | $42 | $42 | $41.8m | |
| Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | — | — | — | — | — | — | — | ($44k) | $0 | $0 | — | |
| Earnings Per Share, Basic | $1.09 | $1.53 | $2.09 | $2.54 | $0.27 | $0.26 | ($1.26) | $1.80 | $1.37 | $0.99 | $1.44 | |
| Earnings Per Share, Diluted | $1.08 | $1.48 | $1.99 | $2.42 | $0.27 | $0.26 | ($1.26) | $1.63 | $1.37 | $0.99 | $1.44 | |
| Basic | $68,642,000.00 | $66,144,000.00 | $60,898,000.00 | $78,990,000.00 | $99,373,000.00 | $97,402,000.00 | $91,434,000.00 | $87,372,000.00 | $86,815,000.00 | $86,988,000.00 | $1.44 | |
| Diluted | $77,109,000.00 | $74,611,000.00 | $69,365,000.00 | $87,711,000.00 | $99,373,000.00 | $97,402,000.00 | $91,434,000.00 | $111,700,000.00 | $86,815,000.00 | $86,988,000.00 | $124,423,000.00 | |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.60 | $1.60 | — | |
| Dividends on preferred shares of beneficial interest | $0 | $15.3m | $24.9m | $24.9m | $24.9m | $30.9m | $41.8m | $41.8m | $41.8m | $41.8m | — | |
| Additional Financial Items | ||||||||||||
| Management Fee Expense | $20.7m | $22.6m | $24.5m | $36.5m | $34.5m | $37.8m | $31.1m | $28.8m | $57.2m | $55.3m | — | |
| Other Cost and Expense, Operating | — | — | — | $52.3m | $65.7m | $78.2m | $59.7m | $46.7m | $20.4m | $12.9m | — | |
| Contractually specified | — | $164.8m | $204.7m | $295.4m | $406.1m | $526.2m | $625.2m | $659.4m | $644.6m | $608.0m | — | |
| Other | $18.2m | $14.2m | $11.4m | $15.0m | $11.5m | $13.9m | $18.6m | $19.0m | $20.4m | $12.9m | — | |
| Net mortgage loan servicing fees | $54.8m | $69.2m | $120.6m | $319.5m | $462.5m | $595.3m | $651.3m | $676.4m | $659.4m | $625.5m | — | |
| Change in fair value of mortgage servicing rights | — | — | ($58.8m) | ($464.4m) | ($938.9m) | ($337.2m) | $449.4m | ($296.8m) | ($170.4m) | ($413.7m) | — | |
| Mortgage servicing rights hedging results | — | — | ($35.5m) | $80.6m | $601.7m | ($345.0m) | ($204.9m) | ($92.8m) | ($226.6m) | ($172.9m) | — | |
| Net servicing fees from non-affiliates | — | $69.2m | $120.6m | ($58.9m) | $153.7m | ($36.0m) | $909.6m | $288.6m | $264.5m | $48.9m | — | |
| From PennyMac Financial Services, Inc. | — | $2.9m | $4.4m | $10.6m | $28.4m | $50.9m | $13.7m | $1.8m | $2.2m | $10.1m | — | |
| Net gains on loans held for sale at fair value: | $106.4m | $74.5m | $59.2m | $170.2m | $379.9m | $87.3m | $25.7m | $39.9m | $73.1m | $52.2m | — | |
| Loan origination fees | $42.0m | $40.2m | $43.3m | $88.0m | $147.3m | $170.7m | $52.1m | $18.2m | $15.1m | $12.5m | — | |
| Net gains on investments and financings | — | — | — | $263.3m | ($170.9m) | $304.1m | ($658.8m) | $178.1m | $61.0m | $213.1m | — | |
| Results of real estate acquired in settlement of loans | ($19.1m) | ($15.0m) | ($8.8m) | $771k | $5.5m | $3.1m | $496k | ($186k) | ($437k) | ($64k) | — | |
| Loan servicing fees | $50.6m | $43.1m | $42.0m | $48.8m | $134.4m | $161.3m | $163.8m | $162.7m | $166.5m | $84.4m | — | |
| Management fees | $20.7m | $22.6m | $24.5m | $36.5m | $34.5m | $37.8m | $31.1m | $28.8m | $57.2m | $55.3m | — | |
| Professional services | $6.8m | $6.9m | $6.4m | $5.6m | $6.4m | $11.1m | $9.6m | $7.6m | $12.8m | $37.8m | — | |
| Compensation | $7.0m | $6.3m | $6.8m | $6.9m | $3.9m | $4.0m | $5.9m | $7.1m | $5.6m | $11.9m | — | |
| Loan collection and liquidation | $13.4m | $6.1m | $7.9m | $4.6m | $10.4m | $11.3m | $5.4m | $4.6m | $6.8m | $8.3m | — | |
| Safekeeping | — | $2.9m | $1.8m | $5.1m | $7.1m | $9.1m | $8.2m | $3.8m | $4.4m | $4.6m | — | |
| Loan origination | $7.1m | $7.5m | $6.6m | $15.1m | $26.4m | $28.8m | $12.0m | $4.6m | $3.3m | $2.3m | — | |
| Total expenses | $210.3m | $193.4m | $193.1m | $298.2m | $389.6m | $375.6m | $240.7m | $184.6m | $191.5m | $213.6m | — |