PennyMac Financial Services, Inc. (PFSI) Key Metrics
PFSI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.13B
- Enterprise value
- $26.35B
- P/E (TTM)
- 8.3 10-yr median 11.4
- Forward P/E
- 9.0
- PEG ratio
- 4.67
- Price / sales
- 0.9 10-yr median 1.5
- Price / book
- 0.8 10-yr median 1.4
- EV / EBITDA
- 45.6 10-yr median 15.6
- Dividend yield
- 1.99% $1.20 a year
- Beta
- 1.45
PFSI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPFSI valuation Price multiples at each fiscal year-end price.
PFSI returns How much profit the business earns on the capital it uses.
PFSI per-share figures Results divided by the shares outstanding at year-end.
PFSI financial health Debt, liquidity and how easily interest is covered.
PFSI efficiency & capital use Working capital cycle and where the cash goes.
PFSI valuation history
PFSI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PFSI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PFSI cash returned to shareholders
PFSI price vs earnings per share
PFSI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.10B | $5.45B | $4.66B | $3.17B | $4.71B | $5.17B | $2.73B | $750.9M | $1.76B | $1.28B |
| Enterprise value | $29.45B | $25.34B | $17.21B | $13.63B | $18.35B | $31.51B | $9.65B | $5.35B | $6.60B | $4.07B |
| P/E ratio | 14.2 | 17.5 | 32.2 | 6.7 | 4.7 | 3.1 | 7.0 | 8.6 | 17.5 | 19.3 |
| Price / sales | 1.6 | 1.9 | 3.3 | 1.4 | 1.3 | 1.3 | 1.6 | 0.7 | 1.6 | 1.2 |
| Price / book | 1.6 | 1.4 | 1.3 | 0.9 | 1.4 | 1.5 | 1.3 | 0.5 | 3.8 | 3.7 |
| Price / free cash flow | — | — | — | 0.5 | 1.9 | — | — | 2.4 | — | — |
| Price / operating cash flow | — | — | — | 0.5 | 1.8 | — | — | 1.3 | — | — |
| EV / sales | 6.7 | 8.9 | 12.3 | 5.9 | 5.2 | 8.0 | 5.7 | 4.7 | 6.0 | 3.9 |
| EV / EBITDA | 47.4 | 53.7 | 24.2 | 18.4 | 13.1 | 13.8 | 17.4 | 10.2 | 10.7 | 5.9 |
| EV / free cash flow | — | — | — | 2.3 | 7.3 | — | — | 17.1 | — | — |
| Earnings yield | 7.1% | 5.7% | 3.1% | 15.0% | 21.3% | 31.9% | 14.4% | 11.7% | 5.7% | 5.2% |
| Free cash flow yield | −19.9% | −83.6% | −34.7% | 187.7% | 53.2% | −121.6% | −91.7% | 41.8% | −61.5% | −76.0% |
| Dividend yield | 0.9% | 1.0% | 0.9% | 1.7% | 1.1% | 0.6% | 0.4% | 1.3% | 0.6% | 0.8% |
| Shareholder yield (dividends + buybacks) | 0.9% | 1.1% | 2.4% | 14.5% | 21.5% | 7.1% | 0.4% | 2.0% | 1.1% | 0.8% |
| Share price at fiscal year-end | $131.84 | $102.14 | $88.37 | $56.66 | $69.78 | $65.62 | $34.04 | $21.26 | $22.35 | $16.65 |
| Per share | ||||||||||
| Revenue per share | $82.04 | $53.35 | $26.58 | $41.49 | $52.75 | $50.21 | $20.91 | $31.96 | $13.93 | $13.54 |
| Earnings per share | $9.30 | $5.84 | $2.74 | $8.50 | $14.87 | $20.92 | $4.89 | $2.48 | $1.28 | $0.86 |
| Operating cash flow per share | −$25.98 | −$84.96 | −$30.00 | $107.83 | $37.99 | −$78.74 | −$27.95 | $16.21 | −$11.19 | −$12.25 |
| Free cash flow per share | −$26.20 | −$85.38 | −$30.69 | $106.35 | $37.14 | −$79.81 | −$31.22 | $8.89 | −$13.76 | −$12.65 |
| Cash per share | $13.21 | $12.35 | $17.99 | $23.96 | $5.14 | $6.96 | $2.62 | $7.73 | $2.63 | $2.42 |
| Book value per share | $79.97 | $71.78 | $67.10 | $62.04 | $50.66 | $43.05 | $25.66 | $46.82 | $5.95 | $4.53 |
| Tangible book value per share | −$98.18 | −$94.38 | −$73.17 | −$47.19 | −$8.44 | $9.23 | −$11.56 | −$34.16 | −$21.23 | −$16.85 |
| Dividends per share | $1.16 | $0.98 | $0.79 | $0.98 | $0.78 | $0.39 | $0.12 | $0.28 | $0.13 | $0.13 |
| Capex per share | $0.22 | $0.41 | $0.69 | $1.49 | $0.84 | $1.07 | $3.27 | $7.32 | $2.56 | $0.40 |
| Debt per share | $427.94 | $385.22 | $255.91 | $210.92 | $207.33 | $341.62 | $88.63 | $138.06 | $63.89 | $38.87 |
| Shares outstanding | 53.9M | 53.4M | 52.7M | 56.0M | 67.5M | 78.7M | 80.3M | 35.3M | 78.9M | 76.6M |
| Change in shares outstanding | +1.0% | +1.2% | −5.7% | −17.1% | −14.3% | −2.0% | +127.5% | −55.3% | +3.0% | +0.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.3% | 8.5% | 4.1% | 13.8% | 29.5% | 60.4% | 21.2% | 8.3% | 24.7% | 21.4% |
| Return on invested capital (ROIC) | 2.0% | 1.6% | 3.7% | 3.2% | 4.3% | 8.5% | 5.2% | 4.2% | 7.4% | 13.7% |
| Return on assets (ROA) | 1.8% | 1.4% | 0.8% | 2.7% | 4.0% | 7.9% | 4.4% | 1.2% | 1.6% | 1.5% |
| Return on tangible assets | 2.5% | 1.8% | 1.3% | 4.4% | 6.8% | 5.7% | 5.4% | 1.9% | 1.9% | 1.9% |
| Free cash flow margin | −31.9% | −160.0% | −115.5% | 256.3% | 70.4% | −159.0% | −149.3% | 27.8% | −98.7% | −93.4% |
| Income quality (OCF / net income) | −2.79 | −14.56 | −10.94 | 12.69 | 2.55 | −3.76 | −5.71 | 6.53 | −8.77 | −14.20 |
| Financial health | ||||||||||
| Total debt | $23.06B | $20.55B | $13.49B | $11.80B | $13.99B | $26.89B | $7.12B | $4.88B | $5.04B | $2.98B |
| Cash & short-term investments | $711.7M | $659.0M | $948.6M | $1.34B | $346.9M | $547.9M | $210.3M | $273.1M | $207.8M | $185.3M |
| Net debt | $22.35B | $19.89B | $12.55B | $10.46B | $13.64B | $26.35B | $6.91B | $4.60B | $4.84B | $2.79B |
| Debt / equity | 5.35 | 5.37 | 3.81 | 3.40 | 4.09 | 7.93 | 3.45 | 2.95 | 10.74 | 8.58 |
| Debt / assets | 0.78 | 0.79 | 0.72 | 0.70 | 0.75 | 0.85 | 0.70 | 0.65 | 0.68 | 0.58 |
| Net debt / EBITDA | 36.00 | 42.12 | 17.67 | 14.16 | 9.73 | 11.56 | 12.46 | 8.74 | 7.83 | 4.05 |
| Current ratio | 0.04 | 1.56 | 2.05 | 2.29 | 1.65 | 2.56 | 1.31 | 1.49 | 1.69 | 1.36 |
| Quick ratio | 0.04 | 1.56 | 2.05 | 2.31 | 1.68 | 2.44 | 1.31 | 1.10 | 1.70 | 1.40 |
| Interest coverage | 0.6 | 0.5 | 1.1 | 13.7 | 15.0 | 91.4 | 6.9 | 1.9 | 2.3 | 3.6 |
| Working capital | −$15.47B | $5.80B | $5.78B | $5.89B | $5.61B | $16.94B | $1.57B | $1.39B | $2.05B | $877.4M |
| Invested capital | $26.66B | $23.72B | $16.08B | $13.93B | $17.06B | $29.74B | $8.97B | $6.26B | $5.31B | $3.14B |
| Tangible asset value | −$5.29B | −$5.04B | −$3.86B | −$2.64B | −$569.2M | $726.8M | −$928.4M | −$1.21B | −$425.6M | −$239.5M |
| Net current asset value | −$24.35B | −$6.14B | −$4.03B | −$2.88B | −$1.15B | −$373.5M | −$1.46B | −$1.58B | −$635.0M | −$407.3M |
| Graham number | $129.36 | $97.09 | $64.36 | $108.92 | $130.21 | $142.35 | $53.14 | $51.14 | $13.07 | $9.38 |
| Graham net-net per share | −$452.01 | −$200.43 | −$137.82 | −$103.99 | −$79.97 | −$91.77 | −$42.89 | −$138.07 | −$57.32 | −$42.31 |
| Capital allocation | ||||||||||
| Dividends paid | $62.5M | $52.2M | $41.4M | $54.6M | $52.9M | $30.9M | $9.7M | $10.1M | $10.1M | $10.1M |
| Share buybacks (net) | $4.7M | $9.4M | $71.5M | $406.1M | $958.2M | $337.5M | $1.1M | $5.3M | $8.6M | $0 |
| Dividend payout ratio | 12.5% | 16.7% | 28.7% | 11.5% | 5.3% | 1.9% | 2.5% | 11.5% | 10.0% | 15.2% |
| Dividends + buybacks / free cash flow | — | — | — | 7.7% | 40.3% | — | — | 4.9% | — | — |
| Capex / revenue | 0.3% | 0.8% | 2.6% | 3.6% | 1.6% | 2.1% | 15.7% | 22.9% | 18.4% | 2.9% |
| Capex / operating cash flow | — | — | — | 1.4% | 2.2% | — | — | 45.2% | — | — |
| Capex / depreciation | 0.17 | 0.32 | 0.52 | 1.65 | 1.32 | 2.22 | 0.43 | 20.00 | 0.72 | 0.10 |
| Stock-based compensation / revenue | 0.8% | 0.7% | 2.0% | 1.8% | 1.1% | 1.1% | 1.5% | 2.2% | 1.9% | 1.6% |
| R&D / revenue | — | 5.3% | 10.2% | 6.0% | 4.0% | 2.8% | 4.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 7.8% | 9.0% | 41.2% | 14.6% | 13.0% | 8.2% | 12.9% | 5.6% | 4.5% | 2.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 601.0 | 1,537.6 | 2,313.8 | 1,673.3 | 2,017.4 | 1,495.6 | 670.6 | 226.3 | 283.1 | 154.2 |
| Days of inventory on hand | — | — | -173.0 | -55.6 | 140.0 | 193.4 | 246.3 | 277.2 | -32.0 | -60.8 |
| Days payables outstanding | 125.4 | 140.2 | 2,276.6 | 205.1 | 149.5 | 155.1 | 209.4 | 245.8 | 306.2 | 412.4 |
| Cash conversion cycle (days) | 475.6 | 1,397.4 | -135.8 | 1,412.5 | 2,007.9 | 1,533.8 | 707.5 | 257.7 | -55.1 | -319.0 |
| Receivables turnover | 0.61 | 0.24 | 0.16 | 0.22 | 0.18 | 0.24 | 0.54 | 1.61 | 1.29 | 2.37 |
| Payables turnover | 2.91 | 2.60 | 0.16 | 1.78 | 2.44 | 2.35 | 1.74 | 1.48 | 1.19 | 0.89 |
| Inventory turnover | — | — | — | — | — | 1.89 | — | 1.32 | — | — |
| Asset turnover | 0.16 | 0.13 | 0.08 | 0.13 | 0.14 | 0.19 | 0.19 | 0.15 | 0.18 | 0.24 |
| Average receivables | $7.28B | $11.99B | $8.89B | $10.64B | $19.67B | $16.20B | $3.09B | $699.9M | $853.1M | $438.5M |
| Average payables | $618.6M | $567.4M | $605.5M | $570.2M | $583.9M | $503.8M | $452.0M | $479.8M | $538.0M | $629.0M |
| Average inventory | — | — | −$46.0M | −$154.5M | $546.6M | $628.0M | $531.7M | $541.0M | −$56.3M | −$92.8M |
| Intangibles / total assets | 32.7% | 34.0% | 39.3% | 36.3% | 21.2% | 8.4% | 29.3% | 38.2% | 29.1% | 31.9% |
Computed from PFSI's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PFSI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), PennyMac Financial Services traded at 14.2 times earnings, against a 10-year median of 11.4. Based on the latest twelve months, the trailing P/E is 8.3 and the forward P/E is 9.0. PennyMac Financial Services earned a return on equity of 12.3% and a return on invested capital of 2.0% in fiscal 2025. It ended the year with $23.1 billion of debt and $711.7 million in cash and short-term investments, net debt of $22.3 billion. It returned $67.3 million to shareholders: $62.5 million in dividends and $4.7 million in share buybacks. The share count fell 29.7% from 76.6M to 53.9M over 9 years.
See the PFSI income statement, the PFSI chart for price history, or the PFSI stock overview for the latest quote and news.
PFSI key metrics FAQ
What is PennyMac Financial Services's P/E ratio?
PennyMac Financial Services's trailing P/E ratio is 8.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.0. At the end of fiscal 2025 it was 14.2, compared with a 10-year median of 11.4.
What is PennyMac Financial Services's EV/EBITDA?
PennyMac Financial Services's enterprise value was 47.4 times EBITDA at the end of fiscal 2025 (enterprise value $29.5 billion, EBITDA $620.8 million); the current EV/EBITDA is 45.6.
What is PennyMac Financial Services's return on equity?
PennyMac Financial Services's return on equity (ROE) was 12.3% in fiscal 2025: net income of $501.1 million on average shareholders' equity of $4.1 billion.
What is PennyMac Financial Services's ROIC?
PennyMac Financial Services's return on invested capital was 2.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PennyMac Financial Services have?
PennyMac Financial Services had total debt of $23.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 5.35 and $22.3 billion of net debt (36.00 times EBITDA).
What is PennyMac Financial Services's dividend yield?
PennyMac Financial Services's forward dividend yield is 1.99%. PennyMac Financial Services paid $62.5 million in dividends in fiscal 2025 ($1.16 per share), a payout ratio of 12.5%.
Does PennyMac Financial Services buy back its shares?
Yes. PennyMac Financial Services spent $4.7 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.0% over the year, to 53.9M..
What is PennyMac Financial Services's free cash flow yield?
PennyMac Financial Services generated -$1.4 billion of free cash flow in fiscal 2025, a free cash flow yield of −19.9% on its market value at year-end ($7.1 billion).
What is PennyMac Financial Services's current ratio?
PennyMac Financial Services's current ratio was 0.04 at the end of fiscal 2025: current assets were 0.04 times current liabilities.