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.
Is PMT undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
0/6
Valuation Score 0/6
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for PMT?
Other financial metrics that can be useful for relative valuation.
The above table shows the n/a ratio for PMT. This is calculated by dividing PMT's market cap by their current
preferred multiple.
What is PMT's n/a Ratio?
n/a Ratio
0x
n/a
n/a
Market Cap
US$1.32b
PMT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Price-To-Book vs Industry: PMT is expensive based on its Price-To-Book Ratio (0.8x) compared to the US Mortgage REITs industry average (0.8x)
Price to Book Ratio vs Fair Ratio
What is PMT's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
PMT PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio
0.8x
Fair PB Ratio
n/a
Price-To-Book vs Fair Ratio: Insufficient data to calculate PMT's Price-To-Book Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of PMT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: PMT ($14.34) is trading above our estimate of fair value ($10.24)
Significantly Below Fair Value: PMT is trading above our estimate of fair value.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PMT's PEG Ratio to determine if it is good value.
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Future Growth
How is PennyMac Mortgage Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Future Growth Score
3/6
Future Growth Score 3/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
101.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PMT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: PMT is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: PMT is expected to become profitable in the next 3 years.
Revenue vs Market: PMT's revenue (1.2% per year) is forecast to grow slower than the US market (8.2% per year).
High Growth Revenue: PMT's revenue (1.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PMT's Return on Equity is forecast to be high in 3 years time
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Past Performance
How has PennyMac Mortgage Investment Trust performed over the past 5 years?
Past Performance Score
0/6
Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
0.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PMT is currently unprofitable.
Growing Profit Margin: PMT is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: PMT is unprofitable, but has reduced losses over the past 5 years at a rate of 0.3% per year.
Accelerating Growth: Unable to compare PMT's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PMT is unprofitable, making it difficult to compare its past year earnings growth to the Mortgage REITs industry (5.4%).
Return on Equity
High ROE: PMT has a negative Return on Equity (-1.52%), as it is currently unprofitable.
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Financial Health
How is PennyMac Mortgage Investment Trust's financial position?
Financial Health Score
2/6
Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: PMT's short term assets ($5.5B) exceed its short term liabilities ($5.5B).
Long Term Liabilities: PMT's short term assets ($5.5B) exceed its long term liabilities ($4.7B).
Debt to Equity History and Analysis
Debt Level: PMT's net debt to equity ratio (435.1%) is considered high.
Reducing Debt: PMT's debt to equity ratio has increased from 303% to 447% over the past 5 years.
Debt Coverage: PMT's debt is not well covered by operating cash flow (8%).
Interest Coverage: Insufficient data to determine if PMT's interest payments on its debt are well covered by EBIT.
Balance Sheet
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Dividend
What is PennyMac Mortgage Investment Trust current dividend yield, its reliability and sustainability?
Dividend Score
2/6
Dividend Score 2/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
13.11%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: PMT's dividend (13.11%) is higher than the bottom 25% of dividend payers in the US market (1.61%).
High Dividend: PMT's dividend (13.11%) is in the top 25% of dividend payers in the US market (4.3%)
Stability and Growth of Payments
Stable Dividend: PMT's dividend payments have been volatile in the past 10 years.
Growing Dividend: PMT's dividend payments have fallen over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: PMT is paying a dividend but the company is unprofitable.
Cash Payout to Shareholders
Cash Flow Coverage: With its low cash payout ratio (21.7%), PMT's dividend payments are well covered by cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
4.0yrs
Average management tenure
CEO
David Spector (59 yo)
5.42yrs
Tenure
US$999,981
Compensation
Mr. David A. Spector has been the Chief Executive Officer of PennyMac Financial Services, Inc. since January 1, 2017. He served as President at PennyMac Financial Services, Inc. since February 2013 to Febr...
Leadership Team
Experienced Management: PMT's management team is considered experienced (4 years average tenure).
Board Members
Experienced Board: PMT's board of directors are considered experienced (9.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
PennyMac Mortgage Investment Trust's employee growth, exchange listings and data sources
All financial data provided by Standard & Poor's Capital IQ.
Data
Last Updated (UTC time)
Company Analysis
2022/07/01 00:00
End of Day Share Price
2022/07/01 00:00
Earnings
2022/03/31
Annual Earnings
2021/12/31
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.