Filing Flows › Financials › PennyMac Financial Services (PFSI)
PennyMac Financial Services (PFSI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · PennyMac Financial Services (PFSI) Q3 2026 earnings results →
Q3 2026 Revenue down 26% year over year to $469M · 6¢ of every $1 of revenue kept as net profit · operating margin 9.1%
PennyMac Financial Services made $469M in Q3 2026 (-26% Y/Y). Operating margin 9.1%, net earnings $28.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $468.8M in Q3 2026, down 26% year over year and down 6% from the previous quarter.
Operating profit was $42.5M, a 9.1% margin (down 28.3 points year over year). Total costs grew 7% against a revenue fall of 26%. Net earnings were $28.7M, down 84% year over year. The effective tax rate was 32.7%.
Operating cash flow was $854.4M, 2982% of net earnings. Non-cash charges added back $13.9M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items added $805.4M. Capital expenditures of $4.1M left free cash flow of $850.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $469M | -26% | 9.1% | $28.7M | $854M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $497M | +12% | 6.3% | $21.7M | $2.1B |
| Q1 2026 | 10-Q | May 5, 2026 | $545M | +26% | 19.2% | $82.3M | −$1.3B |
| Q4 2025 | 10-K | Feb 20, 2026 | $538M | +14% | 25.0% | $107M | −$1.9B |
| Q3 2025 | 10-Q | Oct 28, 2025 | $633M | +54% | 37.3% | $182M | −$697M |
| Q2 2025 | 10-Q | Jul 29, 2025 | $445M | +10% | 17.2% | $136M | −$131M |
| Q1 2025 | 10-Q | Apr 29, 2025 | $431M | +41% | 24.2% | $76.3M | $1.1B |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About PennyMac Financial Services
The following description of our business should be read in conjunction with the information included elsewhere in this Report. This description contains forward-looking statements that involve risks and uncertainties. Actual results could differ significantly from the projections and results discussed in the forward-looking statements due to the factors described under the caption “Risk Factors” and elsewhere in this Report. References in this Report to “we,” “our,” “us,” and the “Company” refer to PennyMac Financial Services, Inc. (“PFSI”) and its consolidated subsidiaries.
In its own words, from its 10-K, filed Feb 20, 2026.
PennyMac Financial Services against its Mortgage Bankers & Loan Correspondents peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -26% against the peers' median -4%. Operating margin: 9.1% against the peers' median 9.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PFSI PennyMac Financial Services | Q3 2026 | $469M | -26% | 9.1% |
| RKT Rocket Companies | Q3 2026 | $3.3B | +94% | 29.2% |
| UWMC UWM Holdings | Q3 2026 | $811M | -4% | 27.6% |
| ONIT Onity Group | Q3 2026 | $278M | -0.8% | 57.6% |
| FOA Finance of America Companies | Q2 2026 | $62.5M | -65% | -113.7% |
| Korth Direct Mortgage | Q2 2026 | $3.3M | -21% | 9.4% |
| BLNE Beeline Holdings | Q2 2026 | $2.6M | +57% | -171.0% |
Source: PennyMac Financial Services 10-Q on SEC EDGAR · CIK 1745916 · Mortgage Bankers & Loan Correspondents
Guidance and outlook
13F: who owns PFSI and who is buying
More on PFSI
- How PennyMac Financial Services makes money: revenue by segment
- PennyMac Financial Services next earnings date and what analysts expect
- PennyMac Financial Services stock forecast, price target and fair value
- Who owns PennyMac Financial Services stock: holders, funds and Congress trades
- PennyMac Financial Services guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
Compare PFSI with
- PennyMac Financial Services vs Rocket Companies (PFSI vs RKT)
- PennyMac Financial Services vs UWM Holdings (PFSI vs UWMC)
- PennyMac Financial Services vs Onity Group (PFSI vs ONIT)
- PennyMac Financial Services vs Finance of America Companies (PFSI vs FOA)
- PennyMac Financial Services vs Beeline Holdings (PFSI vs BLNE)