← PennyMac Financial Services, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total net revenues | $955.5m | $984.6m | $1.5b | $3.7b | $3.2b | $2.0b | $1.4b | $1.6b | $2.0b | |
| Net gains on loans held for sale at fair value | $391.8m | $249.0m | $725.5m | $2.7b | $2.5b | $791.6m | $545.9m | $817.4m | $1.1b | |
| Loan origination fees | $119.2m | $101.6m | $174.2m | $285.6m | $384.2m | $169.9m | $146.1m | $185.7m | $235.8m | |
| Fulfillment fees from PennyMac Mortgage Investment Trust | $80.4m | $81.3m | $160.6m | $222.2m | $178.9m | $68.0m | $27.8m | $26.3m | $23.8m | |
| Servicing fees | $579.3m | $691.3m | $877.5m | $998.3m | $1.1b | $1.2b | $1.5b | $1.8b | $2.0b | |
| Change in fair value of mortgage servicing rights and mortgage servicing liabilities | — | ($116.3m) | ($988.6m) | ($1.5b) | $415.9m | $354.2m | ($605.6m) | ($433.3m) | ($1.4b) | |
| Mortgage servicing rights hedging results | — | ($121.0m) | $395.5m | $918.2m | ($475.2m) | ($631.5m) | ($236.8m) | ($832.5m) | $56.5m | |
| Change in fair value of mortgage servicing rights and mortgage-backed securities | ($273.2m) | ($245.9m) | ($583.9m) | ($558.8m) | ($892.2m) | ($277.3m) | ($842.3m) | ($1.3b) | ($1.4b) | |
| Net loan servicing fees | $306.1m | $445.4m | $293.7m | $439.4m | $183.0m | $951.3m | $642.6m | $533.7m | $705.7m | |
| Subservicing | — | — | — | — | — | — | $81.3m | $83.3m | $85.6m | |
| Management fees from PennyMac Mortgage Investment Trust | $23.6m | $24.5m | $36.5m | $34.5m | $37.8m | $31.1m | $28.8m | $28.6m | $27.6m | |
| Interest income | $143.2m | $216.4m | $288.7m | $247.0m | $300.2m | $294.1m | $632.9m | $793.6m | $924.4m | |
| Results of real estate acquired in settlement of loans | $94k | $589k | $557k | $1.0m | $2.0m | $2.5m | $1.5m | $864k | ($3.5m) | |
| Change in fair value of investment in and dividends received from PennyMac Mortgage Investment Trust | $118k | $332k | $416k | ($453k) | $336k | ($235k) | $312k | ($57k) | $117k | |
| Repricing of payable to exchanged Private National Mortgage Acceptance Company , LLC unitholders under tax receivable agreement | $32.9m | $1.1m | $379k | $280k | — | $576k | — | $201k | $1.1m | |
| Other | $30.2m | $34.3m | $32.7m | $39.7m | $51.4m | $51.9m | $36.5m | $45.9m | $55.5m | |
| Compensation | $358.7m | $403.3m | $503.5m | $738.6m | $999.8m | $735.2m | $577.0m | $632.7m | $782.9m | |
| Loan origination | $20.4m | $27.4m | $117.3m | $219.7m | $330.8m | $173.6m | $114.5m | $164.1m | $252.0m | |
| Technology | $52.0m | $60.1m | $67.9m | $112.6m | $141.4m | $139.9m | $143.2m | $149.5m | $162.6m | |
| Servicing | $117.7m | $137.1m | $164.7m | $256.9m | $109.8m | $59.6m | $69.4m | $106.0m | $122.6m | |
| Marketing and advertising | — | — | $5.2m | $8.7m | $44.8m | $46.8m | $17.6m | $22.0m | $46.1m | |
| Professional services | $17.8m | $27.6m | $32.9m | $64.1m | $94.3m | $73.3m | $60.5m | $38.0m | $38.0m | |
| Occupancy and equipment | $22.6m | $27.2m | $28.9m | $33.4m | $35.8m | $40.1m | $36.6m | $32.9m | $35.3m | |
| Legal settlements | — | — | — | — | ($4k) | $4.6m | $162.8m | $1.6m | — | |
| Provision for income taxes | $24.4m | $23.3m | $136.5m | $593.7m | $355.7m | $189.7m | $39.0m | $89.6m | $50.3m | |
| Income before provision for income taxes | $335.9m | $267.7m | $529.4m | $2.2b | $1.4b | $665.2m | $183.6m | $401.0m | $551.4m | |
| Net income | $100.8m | $87.7m | $393.0m | $1.6b | $1.0b | $475.5m | $144.7m | $311.4m | $501.1m | |
| Basic (in dollars per share) | $4.34 | $2.62 | $5.02 | $21.91 | $15.73 | $8.96 | $2.89 | $6.11 | $9.69 | |
| Diluted (in dollars per share) | $4.03 | $2.48 | $4.89 | $20.92 | $14.87 | $8.50 | $2.74 | $5.84 | $9.30 | |
| Interest expense | $144.5m | $144.6m | $212.0m | $271.6m | $390.7m | $335.4m | $637.8m | $819.3m | $960.6m | |
| Net interest expense | ($1.3m) | $71.8m | $76.7m | ($24.5m) | ($90.5m) | ($41.4m) | ($4.9m) | ($25.8m) | ($36.1m) | |
| Total expenses | $619.6m | $716.9m | $948.0m | $1.5b | $1.8b | $1.3b | $1.2b | $1.2b | $1.5b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.