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PENNYMAC MORTGAGE INVESTMENT (PMT) Stock Fundamental Analysis

NYSE:PMT - New York Stock Exchange, Inc. - US70931T1034 - REIT - Currency: USD

14.07  +0.07 (+0.5%)

After market: 14.2191 +0.15 (+1.06%)

Fundamental Rating

3

PMT gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 64 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. PMT has a medium profitability rating, but doesn't score so well on its financial health evaluation. PMT is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year PMT was profitable.
In the past year PMT has reported a negative cash flow from operations.
In multiple years PMT reported negative net income over the last 5 years.
The reported operating cash flow has been mixed in the past 5 years: PMT reported negative operating cash flow in multiple years.
PMT Yearly Net Income VS EBIT VS OCF VS FCFPMT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B -2B

1.2 Ratios

Looking at the Return On Assets, with a value of 0.96%, PMT is in the better half of the industry, outperforming 60.94% of the companies in the same industry.
PMT has a Return On Equity of 6.46%. This is in the better half of the industry: PMT outperforms 60.94% of its industry peers.
With a decent Return On Invested Capital value of 0.79%, PMT is doing good in the industry, outperforming 64.06% of the companies in the same industry.
PMT had an Average Return On Invested Capital over the past 3 years of 0.72%. This is in line with the industry average of 1.57%.
The last Return On Invested Capital (0.79%) for PMT is above the 3 year average (0.72%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.96%
ROE 6.46%
ROIC 0.79%
ROA(3y)0.19%
ROA(5y)0.5%
ROE(3y)1.08%
ROE(5y)2.52%
ROIC(3y)0.72%
ROIC(5y)0.8%
PMT Yearly ROA, ROE, ROICPMT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5

1.3 Margins

PMT's Profit Margin of 12.22% is in line compared to the rest of the industry. PMT outperforms 51.56% of its industry peers.
PMT's Profit Margin has declined in the last couple of years.
The Operating Margin of PMT (12.48%) is comparable to the rest of the industry.
PMT's Operating Margin has declined in the last couple of years.
The Gross Margin of PMT (18.98%) is worse than 68.75% of its industry peers.
PMT's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 12.48%
PM (TTM) 12.22%
GM 18.98%
OM growth 3Y25.7%
OM growth 5Y-7.63%
PM growth 3Y54.4%
PM growth 5Y-10.97%
GM growth 3Y22.58%
GM growth 5Y-5.74%
PMT Yearly Profit, Operating, Gross MarginsPMT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 30

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0

2. Health

2.1 Basic Checks

There is no outstanding debt for PMT. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
PMT Yearly Shares OutstandingPMT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
PMT Yearly Total Debt VS Total AssetsPMT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

PMT has an Altman-Z score of -0.40. This is a bad value and indicates that PMT is not financially healthy and even has some risk of bankruptcy.
PMT's Altman-Z score of -0.40 is on the low side compared to the rest of the industry. PMT is outperformed by 65.63% of its industry peers.
A Debt/Equity ratio of 5.55 is on the high side and indicates that PMT has dependencies on debt financing.
PMT has a worse Debt to Equity ratio (5.55) than 65.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.55
Debt/FCF N/A
Altman-Z -0.4
ROIC/WACCN/A
WACCN/A
PMT Yearly LT Debt VS Equity VS FCFPMT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B 4B

2.3 Liquidity

PMT has a Current Ratio of 0.07. This is a bad value and indicates that PMT is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of PMT (0.07) is worse than 71.88% of its industry peers.
A Quick Ratio of 0.07 indicates that PMT may have some problems paying its short term obligations.
PMT has a worse Quick ratio (0.07) than 71.88% of its industry peers.
Industry RankSector Rank
Current Ratio 0.07
Quick Ratio 0.07
PMT Yearly Current Assets VS Current LiabilitesPMT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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2

3. Growth

3.1 Past

The earnings per share for PMT have decreased strongly by -17.39% in the last year.
Measured over the past years, PMT shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -11.43% on average per year.
EPS 1Y (TTM)-17.39%
EPS 3Y72.3%
EPS 5Y-11.43%
EPS Q2Q%-6.82%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.31%

3.2 Future

Based on estimates for the next years, PMT will show a small growth in Earnings Per Share. The EPS will grow by 7.81% on average per year.
Based on estimates for the next years, PMT will show a small growth in Revenue. The Revenue will grow by 7.95% on average per year.
EPS Next Y21.06%
EPS Next 2Y10.42%
EPS Next 3Y7.81%
EPS Next 5YN/A
Revenue Next Year15.57%
Revenue Next 2Y8.35%
Revenue Next 3Y7.95%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
PMT Yearly Revenue VS EstimatesPMT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
PMT Yearly EPS VS EstimatesPMT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 10.58, the valuation of PMT can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of PMT indicates a somewhat cheap valuation: PMT is cheaper than 68.75% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of PMT to the average of the S&P500 Index (29.63), we can say PMT is valued rather cheaply.
With a Price/Forward Earnings ratio of 8.74, the valuation of PMT can be described as very reasonable.
PMT's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. PMT is cheaper than 65.63% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of PMT to the average of the S&P500 Index (22.68), we can say PMT is valued rather cheaply.
Industry RankSector Rank
PE 10.58
Fwd PE 8.74
PMT Price Earnings VS Forward Price EarningsPMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
PMT Per share dataPMT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 -20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.5
PEG (5Y)N/A
EPS Next 2Y10.42%
EPS Next 3Y7.81%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 11.43%, PMT is a good candidate for dividend investing.
PMT's Dividend Yield is slightly below the industry average, which is at 12.96.
PMT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 11.43%

5.2 History

The dividend of PMT decreases each year by -2.03%.
PMT has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-2.03%
Div Incr Years0
Div Non Decr Years0
PMT Yearly Dividends per sharePMT Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1 1.5 2

5.3 Sustainability

144.75% of the earnings are spent on dividend by PMT. This is not a sustainable payout ratio.
DP144.75%
EPS Next 2Y10.42%
EPS Next 3Y7.81%
PMT Yearly Income VS Free CF VS DividendPMT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B -2B
PMT Dividend Payout.PMT Dividend Payout, showing the Payout Ratio.PMT Dividend Payout.PayoutRetained Earnings

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PENNYMAC MORTGAGE INVESTMENT

NYSE:PMT (2/21/2025, 8:04:00 PM)

After market: 14.2191 +0.15 (+1.06%)

14.07

+0.07 (+0.5%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)01-30 2025-01-30/amc
Earnings (Next)04-22 2025-04-22/amc
Inst Owners69.87%
Inst Owner Change1.11%
Ins Owners0.78%
Ins Owner Change-1.65%
Market Cap1.22B
Analysts68.57
Price Target14.72 (4.62%)
Short Float %4.05%
Short Ratio4.45
Dividend
Industry RankSector Rank
Dividend Yield 11.43%
Yearly Dividend2.08
Dividend Growth(5Y)-2.03%
DP144.75%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-26.87%
Min EPS beat(2)-52.5%
Max EPS beat(2)-1.23%
EPS beat(4)2
Avg EPS beat(4)-0.03%
Min EPS beat(4)-52.5%
Max EPS beat(4)34.93%
EPS beat(8)4
Avg EPS beat(8)-7%
EPS beat(12)4
Avg EPS beat(12)-84.05%
EPS beat(16)6
Avg EPS beat(16)-77.05%
Revenue beat(2)0
Avg Revenue beat(2)-17.32%
Min Revenue beat(2)-22.71%
Max Revenue beat(2)-11.93%
Revenue beat(4)0
Avg Revenue beat(4)-15.53%
Min Revenue beat(4)-22.71%
Max Revenue beat(4)-11.93%
Revenue beat(8)2
Avg Revenue beat(8)12.21%
Revenue beat(12)4
Avg Revenue beat(12)18.69%
Revenue beat(16)7
Avg Revenue beat(16)30.39%
PT rev (1m)-3.61%
PT rev (3m)-3.2%
EPS NQ rev (1m)-3.44%
EPS NQ rev (3m)-3.44%
EPS NY rev (1m)-1%
EPS NY rev (3m)-4.09%
Revenue NQ rev (1m)-5.47%
Revenue NQ rev (3m)-5.47%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.65%
Valuation
Industry RankSector Rank
PE 10.58
Fwd PE 8.74
P/S 1.19
P/FCF N/A
P/OCF N/A
P/B 0.63
P/tB N/A
EV/EBITDA N/A
EPS(TTM)1.33
EY9.45%
EPS(NY)1.61
Fwd EY11.44%
FCF(TTM)-6.32
FCFYN/A
OCF(TTM)-6.32
OCFYN/A
SpS11.79
BVpS22.3
TBVpS-21.55
PEG (NY)0.5
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.96%
ROE 6.46%
ROCE 1.83%
ROIC 0.79%
ROICexc 0.82%
ROICexgc 1.22%
OM 12.48%
PM (TTM) 12.22%
GM 18.98%
FCFM N/A
ROA(3y)0.19%
ROA(5y)0.5%
ROE(3y)1.08%
ROE(5y)2.52%
ROIC(3y)0.72%
ROIC(5y)0.8%
ROICexc(3y)0.74%
ROICexc(5y)0.81%
ROICexgc(3y)1.11%
ROICexgc(5y)1.12%
ROCE(3y)1.7%
ROCE(5y)2.13%
ROICexcg growth 3Y52.18%
ROICexcg growth 5Y2.8%
ROICexc growth 3Y42.06%
ROICexc growth 5Y-1.6%
OM growth 3Y25.7%
OM growth 5Y-7.63%
PM growth 3Y54.4%
PM growth 5Y-10.97%
GM growth 3Y22.58%
GM growth 5Y-5.74%
F-Score3
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 5.55
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 0.18
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.07
Quick Ratio 0.07
Altman-Z -0.4
F-Score3
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-17.39%
EPS 3Y72.3%
EPS 5Y-11.43%
EPS Q2Q%-6.82%
EPS Next Y21.06%
EPS Next 2Y10.42%
EPS Next 3Y7.81%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%27.31%
Revenue Next Year15.57%
Revenue Next 2Y8.35%
Revenue Next 3Y7.95%
Revenue Next 5YN/A
EBIT growth 1Y-46.15%
EBIT growth 3Y46.33%
EBIT growth 5Y8.28%
EBIT Next Year218.4%
EBIT Next 3Y52.08%
EBIT Next 5YN/A
FCF growth 1Y-146.93%
FCF growth 3Y25.89%
FCF growth 5YN/A
OCF growth 1Y-146.93%
OCF growth 3Y25.89%
OCF growth 5YN/A