Penny Mac Mortgage Investment Trust - Understand $pmt stock

$PMT Market Cap: $1.173 Billion

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Financial Snapshot

Revenue

$496.6M

TTM

Gross Margin

50.87%

TTM

Net Earnings

$156.8M

TTM

Current Assets

$424.0M

Q3 2024

Current Liabilities

$6.086B

Q3 2024

Current Ratio

6.97%

Q3 2024

Total Assets

$13.06B

Q3 2024

Total Liabilities

$11.12B

Q3 2024

Book Value

$1.937B

Q3 2024

Cash

$344.4M

Q3 2024

P/E

7.485

Nov 29, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue	$429.0M	$303.8M	$420.3M	$469.4M	$488.8M	$351.1M	$317.9M	$272.1M	$248.8M	$356.7M	$405.5M	$303.5M	$111.7M	$14.57M	$2.300M
YoY Change	41.23%	-27.72%	-10.45%	-3.98%	39.24%	10.42%	16.85%	9.38%	-30.27%	-12.03%	33.6%	171.81%	666.21%	533.65%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue	$429.0M	$303.8M	$420.3M	$469.4M	$488.8M	$351.1M	$317.9M	$272.1M	$248.8M	$356.7M	$405.5M	$303.5M	$111.7M	$14.57M	$2.300M
Cost Of Revenue	$854.3M	$608.8M	$642.2M	$631.5M	$563.1M	$337.7M	$311.0M	$328.0M	$264.3M	$221.9M	$216.8M	$125.6M	$38.60M	$800.0K	$0.00
Gross Profit	$310.7M	$105.4M	$82.84M	$106.9M	$223.2M	$188.6M	$158.3M	$93.80M	$109.1M	$220.5M	$254.0M	$209.6M	$90.00M	$43.30M	$2.300M
Gross Profit Margin	72.42%	34.69%	19.71%	22.78%	45.66%	53.72%	49.79%	34.47%	43.86%	61.81%	62.64%	69.06%	80.6%	297.1%	100.0%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Selling, General & Admin	$47.26M	$23.71M	$24.24M	$17.40M	$17.60M	$12.90M	$13.20M	$13.80M	$14.70M	$16.70M	$16.30M	$13.20M	$9.600M	$8.400M	$2.100M
YoY Change	99.3%	-2.16%	39.28%	-1.14%	36.43%	-2.27%	-4.35%	-6.12%	-11.98%	2.45%	23.48%	37.5%	14.29%	300.0%
% of Gross Profit	15.21%	22.5%	29.26%	16.28%	7.89%	6.84%	8.34%	14.71%	13.47%	7.57%	6.42%	6.3%	10.67%	19.4%	91.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$184.6M	$240.7M	$375.6M	$389.6M	$298.2M	$193.1M	$193.4M	$210.3M	$175.5M	$177.3M	$190.9M	$116.7M	$39.17M	$17.03M	$4.200M
YoY Change	-23.29%	-35.93%	-3.59%	30.67%	54.43%	-0.16%	-8.05%	19.87%	-1.02%	-7.13%	63.56%	197.92%	130.05%	305.43%
Operating Profit	$126.1M	-$135.3M	-$292.8M	-$282.7M	-$74.97M	-$4.479M	-$35.09M	-$116.5M	-$66.36M	$43.22M	$63.12M	$92.90M	$50.83M	$26.27M	-$1.900M
YoY Change	-193.16%	-53.78%	3.56%	277.09%	1573.9%	-87.24%	-69.88%	75.59%	-253.53%	-31.52%	-32.06%	82.77%	93.46%	-1482.74%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense	$736.0M	$410.4M	$304.7M	$270.8M	$297.4M	$175.2M	$151.4M	$149.8M	$124.7M	$85.59M	$65.22M	$31.64M	$16.95M	$826.0K
YoY Change	79.32%	34.68%	12.54%	-8.97%	69.8%	15.72%	1.07%	20.09%	45.71%	31.23%	106.12%	86.72%	1951.57%
% of Operating Profit	583.83%									198.02%	103.34%	34.06%	33.34%	3.14%
Other Income/Expense, Net						$11.39M	$14.20M	$15.01M	$15.87M	$14.76M	$21.20M	$9.557M	$7.887M	$2.916M
YoY Change						-19.77%	-5.41%	-5.39%	7.48%	-30.36%	121.83%	21.17%	170.47%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Pretax Income	$244.4M	$63.09M	$44.66M	$79.73M	$190.6M	$158.0M	$124.5M	$61.76M	$73.30M	$179.5M	$214.6M	$186.8M	$72.50M	$27.03M	-$1.900M
YoY Change	287.39%	41.26%	-43.98%	-58.18%	20.67%	26.85%	101.65%	-15.74%	-59.15%	-16.39%	14.89%	157.7%	168.24%	-1522.42%
Income Tax	$44.74M	$136.4M	-$12.19M	$27.36M	-$35.72M	$5.190M	$6.797M	-$14.05M	-$16.80M	-$15.08M	$14.45M	$48.57M	$8.056M	$2.543M	$0.00
% Of Pretax Income	18.31%	216.17%	-27.3%	34.31%	-18.73%	3.29%	5.46%	-22.74%	-22.91%	-8.4%	6.73%	26.0%	11.11%	9.41%
Net Earnings	$199.7M	-$73.29M	$56.85M	$52.37M	$226.4M	$152.8M	$117.7M	$75.81M	$90.10M	$194.5M	$200.2M	$138.2M	$64.44M	$24.48M	-$1.900M
YoY Change	-372.43%	-228.9%	8.56%	-76.86%	48.14%	29.77%	55.32%	-15.86%	-53.69%	-2.82%	44.8%	114.54%	163.2%	-1388.58%
Net Earnings / Revenue	46.54%	-24.13%	13.53%	11.16%	46.31%	43.52%	37.03%	27.86%	36.22%	54.53%	49.37%	45.55%	57.71%	167.99%	-82.61%
Basic Earnings Per Share	$1.80	-$1.26	$0.26	$0.27	$2.54	$2.09	$1.53	$1.09	$1.19	$2.62	$3.13	$3.14	$2.41	$1.46
Diluted Earnings Per Share	$1.63	-$1.26	$0.26	$0.27	$2.42	$1.99	$1.48	$1.08	$1.16	$2.47	$2.96	$3.14	$2.41	$1.44	-$113.8K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Cash & Short-Term Investments	$281.1M	$111.9M	$58.98M	$58.00M	$104.0M	$60.00M	$78.00M	$34.00M	$58.00M	$76.00M	$27.00M	$34.00M	$15.00M	$45.00M	$0.00
YoY Change	151.27%	89.66%	1.69%	-44.23%	73.33%	-23.08%	129.41%	-41.38%	-23.68%	181.48%	-20.59%	126.67%	-66.67%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables												$3.000M	$2.000M	$3.000M	$0.00
Other Receivables												$66.00M	$14.00M	$8.000M	$0.00
Total Short-Term Assets	$487.3M	$313.4M	$279.9M	$188.0M	$156.0M	$132.0M	$159.0M	$118.0M	$155.0M	$162.0M	$93.00M	$103.0M	$31.00M	$56.00M
YoY Change	55.49%	11.97%	48.88%	20.51%	18.18%	-16.98%	34.75%	-23.87%	-4.32%	74.19%	-9.71%	232.26%	-44.64%
Property, Plant & Equipment					$0.00	$43.00M	$44.00M	$29.00M	$9.000M	$0.00	$9.000M	$0.00
YoY Change					-100.0%	-2.27%	51.72%	222.22%		-100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$6.174B	$6.040B	$4.540B	$5.272B	$5.188B	$4.086B	$1.833B	$1.726B	$777.0M	$638.0M	$1.170B	$40.00M	$1.217B	$488.0M	$323.0M
YoY Change	2.22%	33.05%	-13.89%	1.62%	26.97%	122.91%	6.2%	122.14%	21.79%	-45.47%	2825.0%	-96.71%	149.39%	51.08%
Other Assets
YoY Change
Total Long-Term Assets	$12.63B	$13.61B	$13.49B	$11.30B	$11.62B	$7.681B	$5.446B	$6.240B	$5.672B	$4.735B	$4.218B	$2.457B	$1.355B	$533.0M
YoY Change	-7.21%	0.85%	19.36%	-2.68%	51.22%	41.04%	-12.72%	10.01%	19.79%	12.26%	71.67%	81.33%	154.22%
Total Assets	$13.11B	$13.92B	$13.77B	$11.49B	$11.77B	$7.813B	$5.605B	$6.358B	$5.827B	$4.897B	$4.311B	$2.560B	$1.386B	$589.0M	$324.0M
YoY Change
Accounts Payable	$384.3M	$196.6M	$40.09M	$87.00M	$48.00M	$33.00M	$27.00M	$16.00M	$19.00M	$24.00M	$19.00M	$12.00M	$12.00M	$6.000M	$4.000M
YoY Change	95.46%	390.34%	-53.92%	81.25%	45.45%	22.22%	68.75%	-15.79%	-20.83%	26.32%	58.33%	0.0%	100.0%	50.0%
Accrued Expenses	$32.67M	$21.93M	$10.59M	$11.00M	$26.00M	$36.00M	$7.000M	$4.000M
YoY Change	48.99%	106.98%	-3.7%	-57.69%	-27.78%	414.29%	75.0%
Deferred Revenue
YoY Change
Short-Term Debt	$5.625B	$6.617B	$6.672B	$6.390B	$6.756B	$4.903B	$3.225B	$3.934B	$150.0M	$0.00	$1.724B	$1.256B	$660.0M	$249.0M	$0.00
YoY Change	-14.99%	-0.83%	4.41%	-5.42%	37.79%	52.03%	-18.02%	2522.67%		-100.0%	37.26%	90.3%	165.06%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$6.231B	$6.987B	$6.788B	$6.512B	$6.832B	$5.009B	$3.286B	$3.972B	$431.0M	$75.00M	$1.803B	$1.304B	$675.0M	$261.0M	$7.000M
YoY Change	-10.81%	2.93%	4.24%	-4.68%	36.39%	52.43%	-17.27%	821.58%	474.67%	-95.84%	38.27%	93.19%	158.62%	3628.57%
Long-Term Debt	$4.848B	$4.765B	$4.494B	$2.273B	$2.383B	$1.154B	$699.0M	$901.0M	$729.0M	$430.0M	$958.0M	$0.00	$0.00	$0.00	$0.00
YoY Change	1.73%	6.03%	97.73%	-4.62%	106.5%	65.09%	-22.42%	23.59%	69.53%	-55.11%
Other Long-Term Liabilities	$77.52M	$206.7M	$82.46M	$285.0M	$14.00M	$13.00M	$10.00M	$25.00M	$3.152B	$2.746B	$12.00M	$5.000M	$153.0M	$0.00
YoY Change	-62.49%	150.68%	-71.07%	1935.71%	7.69%	30.0%	-60.0%	-99.21%	14.79%	22783.33%	140.0%	-96.73%
Total Long-Term Liabilities	$4.925B	$4.972B	$4.577B	$2.558B	$2.397B	$1.167B	$709.0M	$926.0M	$3.881B	$3.176B	$970.0M	$5.000M	$153.0M	$0.00	$0.00
YoY Change	-0.94%	8.63%	78.92%	6.72%	105.4%	64.6%	-23.43%	-76.14%	22.2%	227.42%	19300.0%	-96.73%
Total Liabilities	$11.16B	$11.96B	$11.41B	$9.195B	$9.320B	$6.247B	$4.060B	$5.006B	$4.331B	$3.319B	$2.844B	$1.358B	$840.0M	$269.0M	$11.00M
YoY Change	-6.71%	4.85%	24.04%	-1.34%	49.19%	53.87%	-18.9%	15.59%	30.49%	16.7%	109.43%	61.67%	212.27%	2345.45%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	87.37M	91.43M	97.40M	99.37M	78.99M	60.90M	66.14M	68.64M	74.45M	73.50M	63.43M shares	43.55M shares	26.40M shares	16.78M shares
Diluted Shares Outstanding	111.7M	91.43M	97.40M	99.37M	87.71M	69.37M	74.61M	77.11M	83.34M	82.21M	69.45M shares	43.88M shares	26.68M shares	17.05M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $1.1735 Billion

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. The company is headquartered in Westlake Village, California and currently employs 7 full-time employees. The company went IPO on 2009-07-30. The firm invests primarily in mortgage-related assets. The firm conducts all its operations, and makes investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. The firm's segments include credit sensitive strategies, interest rate sensitive strategies, correspondent production, and corporate. The credit sensitive strategies segment represents its investments in credit risk transfer (CRT) arrangements, subordinate mortgage-backed securities (MBS), distressed loans, and real estate. The interest rate sensitive strategies segment represents its investments in MSRs, excess servicing spread (ESS) purchased from PFSI, Agency and senior non-Agency MBS and the related interest rate hedging activities. The Correspondent Production segment serves as an intermediary between lenders and the capital markets by purchasing, pooling and reselling credit quality loans.

Industry: Real Estate Investment Trusts Peers: MFA FINANCIAL, INC. ANNALY CAPITAL MANAGEMENT INC Apollo Commercial Real Estate Finance, Inc. Franklin BSP Realty Trust, Inc. BrightSpire Capital, Inc. KKR Real Estate Finance Trust Inc. Ladder Capital Corp NEW YORK MORTGAGE TRUST, INC. Ready Capital Corp TWO HARBORS INVESTMENT CORP.