# PennyMac Financial Services, Inc. (PFSI)

> Source: Nexqual · https://nexqual.com/PFSI · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, PennyMac Financial Services, Inc. (PFSI), nexqual.com/PFSI" · informational, not investment advice.

**Price:** USD 63.36 (+6.43% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 59.53 · day 59.83–63.65 · 52w 57.52–160.36 · market cap $3.29B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.21B, net income $392M (17.7% margin) (SEC filings).
- Valuation: P/E 8.4x (avg 21.3x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $2.5M; 0 not under a Rule 10b5-1 plan ($0K); 2 by opportunistic insiders (0 outside 10b5-1 plans), 3 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -50.1% vs S&P 500 +14.9%; 5Y +1.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.23, revenue estimate $537M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.17B | $1.99B | $1.40B | $1.59B | $2.05B | $2.21B |
| Net income | $1.00B | $476M | $145M | $311M | $501M | $392M |
| EPS (diluted) | $14.87 | $8.50 | $2.74 | $5.84 | $9.30 | — |
| Free cash flow | $2.56B | $6.03B | -$1.58B | -$4.53B | -$1.66B | -$1.80B |
| Net margin | 31.7% | 23.9% | 10.3% | 19.5% | 24.5% | 17.7% |
| Revenue growth | -14.5% | -37.3% | -29.4% | +13.7% | +28.4% | — |
| Cash + short-term investments | $347M | $1.34B | $949M | $659M | $712M | — |
| Total debt | $3.10B | $3.75B | $4.43B | $5.25B | $6.23B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.4x · P/S 1.5x · P/B 0.8x · FCF yield -54.73% · Earnings yield 11.92% · Dividend yield (paid, TTM) 1.92%
P/E at fiscal year-ends: Dec 2025 14.2x, Dec 2024 17.5x, Dec 2023 32.2x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
5 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-01 | Hendry Gregory L | MD, Chief Accounting Officer | 2,177 | $189K | 4.3% | Yes (adopted March 20, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-22 | Hendry Gregory L | MD, Chief Accounting Officer | 2,943 | $240K | 5.7% | Yes (adopted March 20, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-15 | Perotti Daniel Stanley | Chief Financial Officer | 2,925 | $256K | 1.3% | Yes (adopted June 2, 2025) | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-12 | Spector David | Chairman & CEO | 10,000 | $880K | 1.7% | Yes (adopted August 8, 2025) | Routine (sold in Feb & Mar & Apr & May & Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-04-14 | Spector David | Chairman & CEO | 10,000 | $928K | 1.6% | Yes (adopted August 8, 2025) | Routine (sold in Feb & Mar & Apr & May & Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | BTIG | Target lowered | Buy | $90 → $80 |
| 2026-10-09 | Piper Sandler | Target lowered | Neutral | $86 → $71 |
| 2026-10-05 | Barclays | Target lowered | Equal-Weight | $85 → $71 |
| 2026-07-31 | Keefe, Bruyette & Woods | Target lowered | Outperform | $108 → $100 |
| 2026-07-30 | Stephens & Co. | Target lowered | Equal-Weight | $91 → $78 |
| 2026-07-30 | Wells Fargo | Target lowered | Overweight | $100 → $95 |
| 2026-07-30 | Barclays | Target lowered | Equal-Weight | $93 → $85 |
| 2026-07-30 | Piper Sandler | Downgrade | Overweight → Neutral | $106 → $86 |
| 2026-07-30 | BTIG | Target lowered | Buy | $105 → $90 |
| 2026-07-07 | Barclays | Downgrade | Overweight → Equal-Weight | $107 → $93 |
| 2026-07-02 | Piper Sandler | Target lowered | Overweight | $112 → $106 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -50.1% | +1.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -50.2% | +0.3% |
| Volatility (annualized) | 52.3% | 37.0% |
| Max drawdown | -63.4% (Jan 2026→Oct 2026) | -62.0% (Jan 2026→Oct 2026) |

## Peers (Mortgage Finance)
UWMC (UWM Holdings Corporation) USD 1.15 +3.60% · WD (Walker & Dunlop, Inc) USD 34.68 +5.44% · VEL (Velocity Financial, Inc.) USD 15.21 +2.42% · RKT (Rocket Companies, Inc.) USD 11.74 +5.67% · BETR (Better Home & Finance Holding C) USD 16.58 +6.42%

## More
Full page: https://nexqual.com/PFSI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name PFSI in their own reports (relationship from PFSI's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | PennyMac Mortgage Investment Trust (PMT) | 10-K 2026-02-18 | "PFSI has a corporate philanthropy program that is governed by a philosophy of giving that prioritizes the support of causes and issues of importance in our local communities, and drives a culture of e…" |

## Customer concentration

Period ended 2026-06-30: 10% of revenue from unnamed direct customers (10-Q, filed 2026-08-04).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.23 | $2.57 | -52.0% | $537.4M | 6 |
| Next quarter (ends 2026-12-31) | $1.68 | $2.91 | -42.2% | $554.3M | 6 |
| Current fiscal year (ends 2026-12-31) | $6.48 | $9.70 | -33.2% | $2.16B | 6 |
| Next fiscal year (ends 2027-12-31) | $10.30 | $13.05 | -21.1% | $2.44B | 5 |