Exchange: NYSE | Sector: Real Estate | Industry: REIT - Mortgage
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds. Its Interest Rate Sensitive Strategies segment engages in investing in mortgage servicing rights, excess servicing spreads, and agency and senior non-agency mortgage-backed securities (MBS), as well as related interest rate hedging activities. The company's Correspondent Production segment is involved in purchasing, pooling, and reselling newly originated prime credit residential loans directly or in the form of MBS. PNMAC Capital Management, LLC acts as the manager of PennyMac Mortgage Investment Trust. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders. PennyMac Mortgage Investment Trust was founded in 2009 and is headquartered in Westlake Village, California.
Summary stats | |
|---|---|
| Market cap. (USD) | 1,176,639,509 |
| Beta | 1.47 |
| Vol. avg. | 32,569.00 |
| EPS | 1.80 |
| P/E (TTM) | 6.30 |
| Dividend yield (TTM) | 11.76% |
| Dividend per share (TTM) | 1.60 |
| Last dividend (USD) | 1.69 |
Score: B+
Assessment: INTERESTING
| Financial health | B+ |
| Cash flow | A+ |
| Growth | A+ |
| Market performance | D |
| Valuation | B+ |
| Dividends | B+ |
| USD (millions) | 2019 - FY | 2020 - FY | 2021 - FY | 2022 - FY | 2023 - FY |
|---|---|---|---|---|---|
| Total assets | 11,771 | 11,516 | 13,773 | 13,922 | 13,114 |
| Total liabilities | 9,320 | 9,219 | 11,405 | 11,959 | 11,157 |
| Total equity | 11,396 | 10,776 | 13,307 | 12,980 | 12,020 |
| USD (millions) | 2019 - FY | 2020 - FY | 2021 - FY | 2022 - FY | 2023 - FY |
|---|---|---|---|---|---|
| Total revenues | 223 | 109 | 83 | 103 | 1,462 |
| Total expenses | -8 | -8 | -38 | 241 | 481 |
| Operating income | 191 | 80 | 45 | 48 | 980 |
| Net income before tax | 191 | 80 | 45 | 63 | 244 |
| Net income after tax | 226 | 52 | 57 | -73 | 200 |
| USD (millions) | 2019 - FY | 2020 - FY | 2021 - FY | 2022 - FY | 2023 - FY |
|---|---|---|---|---|---|
| Cash flow from operating activities | -2,985 | 672 | -2,820 | 1,784 | 1,340 |
| Cash flow from financing activities | 3,734 | -703 | 1,728 | 136 | -1,149 |
| Cash flow from investing activities | -705 | -15 | 1,093 | -1,867 | -22 |
| Net change in cash | 44 | -46 | 1 | 53 | 169 |
| Free cash flow | -2,985 | 672 | -2,791 | 1,784 | 1,326 |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Gross profit margin How efficiently does the company convert revenue into gross profit? Higher is better | 25.56% | -110.44% | -129.45% | 24.78% | 89.94% |
| Net profit margin How much net income does the company generate from revenue? Higher is better | 101.41% | 48.21% | 68.63% | -71.08% | 13.66% |
| Return on Assets How effectively does the company use its assets to generate profit? Higher is better | 1.92% | 0.45% | 0.41% | -0.53% | 1.52% |
| Return on Equity How well does the company generate returns on shareholders' equity? Higher is better | 9.24% | 2.28% | 2.4% | -3.73% | 10.2% |
| Return on Invested Capital How efficiently is the company using its capital to generate profits? Higher is better | 1.94% | 0.46% | 0.42% | -0.51% | 8.51% |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Cash ratio Does the company have enough cash to cover short-term liabilities? Close to or greater than 1 is better | 22.75 | 22.89 | 18.34 | 0.49 | 0.08 |
| Current ratio Can the company meet short-term obligations with current assets? Between 1.5 and 2 is better | 25.74 | 25.03 | 20.26 | 0.12 | 0.11 |
| Quick ratio Can the company meet short-term liabilities without selling inventory? Above 1 is better | 25.02 | 24.8 | 20.11 | 0.12 | 0.11 |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Debt ratio What proportion of the company's assets is financed by debt? Below 0.5 is better | 0.8 | 0.36 | 0.51 | 0.54 | 0.8 |
| Debt to equity ratio How does the company's debt compare to its equity? Below 1 is better | 3.83 | 1.83 | 2.94 | 3.86 | 5.35 |
| Interest coverage ratio Can the company cover its interest expenses comfortably? Above 3 is better | 0.64 | 0.29 | 0.15 | 0.12 | 1.33 |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Asset growth Are the company's assets growing and how quickly? Higher is better. | 50.66% | -2.17% | 19.59% | 1.08% | -5.8% |
| Book value per share growth Is the company increasing its net asset value, and how consistently? Higher is better. | 37.43% | -25.51% | 5.16% | -11.68% | 4.34% |
| Debt growth Is the company's debt growing and how quickly? Lower is better. | 107.4% | -4.61% | 97.7% | 6.03% | 119.77% |
| Earnings per share growth Is the company’s profitability growing, and at what rate? Higher is better. | 15.45% | -89.37% | -3.7% | -407.69% | 325% |
| Revenue growth Is the company's revenue growing and how quickly? Higher is better. | 18.23% | -51.33% | -23.74% | 24.46% | 1317.8% |
| Net income growth Is the company's net income growing and how quickly? Higher is better. | 48.14% | -76.86% | 8.56% | -228.9% | 372.43% |
| Free cash flow growth Is the company generating more free cash flow over time, and how steadily? Higher is better. | -420.27% | 122.5% | -515.53% | 163.94% | -25.72% |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Dividend yield What is the return from dividends relative to stock price? Higher is better for income-focused investors. | 9.43% | 10.1% | 12.68% | 19.01% | 13.97% |
| P/E ratio How is the company's stock valued relative to its earnings? Lower is better, relative to industry averages. | 7.78 | 33.38 | 29.69 | -15.46 | 6.54 |
| PEG ratio Is the stock fairly valued considering its growth? Closer to 1 is better. | 0.5 | -0.37 | -8.02 | 0.04 | -0.02 |
| Price to free cash flow ratio How is the stock valued relative to its free cash flow? Lower is better. | -0.59 | 2.6 | -0.6 | 0.63 | 0.99 |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Dividend growth per share | 3.69% | -15.44% | 23.75% | 7.15% | -11.35% |
| 3 year dividend growth per share | 9.61% | -16.19% | 8.5% | 12.12% | 17.54% |
| 5 year dividend growth per share | -11.48% | -23.57% | 14.7% | 11.12% | 3.06% |
| 10 year dividend growth per share | 0% | 129.93% | 46.72% | 8.19% | -10.25% |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Dividend yield | 9.43% | 10.1% | 12.68% | 19.01% | 13.97% |
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Dividend payout ratio | 73.31% | 337.05% | 376.61% | -293.87% | 91.38% |
| Free cash flow per share (USD) | -37.79 | 6.76 | -28.65 | 19.52 | 15.17 |
| Valuation assessment (USD) | Discounted cash flow (USD) |
|---|---|
| 14.79 |
| RITM-PD | CIM-PB | TWO-PB | ARR-PC | ||||||||||||
| PMT-PB |
