Filing Flows › PennyMac Financial Services (PFSI) › Q3 2026 › vs Q3 2025
PennyMac Financial Services (PFSI) Q3 2026 vs Q3 2025 (year over year)
PennyMac Financial Services's revenue fell $164M (-26%) from $633M in Q3 2025 to $469M in Q3 2026. Operating margin 9.1% against 37.3% (-28.3 pts).
PennyMac Financial Services, Q3 2026: revenue $469M (-26% year over year), operating margin 9.1%, net earnings $28.7M, operating cash flow $854M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.1% | 37.3% | -28.3 pts |
| Net margin | 6.1% | 28.7% | -22.6 pts |
| Free cash flow margin | 181.4% | -110.5% | +291.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $469M | $633M | −$164M | -26% |
| Operating profit | $42.5M | $236M | −$194M | -82% |
| Costs & expenses | $426M | $397M | $29.7M | +7% |
| Pre-tax earnings | $42.5M | $236M | −$194M | -82% |
| Net earnings | $28.7M | $182M | −$153M | -84% |
| Income tax | $13.9M | $54.9M | −$41.0M | -75% |
| Depreciation & amortization | $13.9M | $13.0M | $962K | +7% |
| Share-based compensation | $6.4M | $9.9M | −$3.5M | -35% |
| Working capital & other | $805M | −$902M | $1.7B | — |
| Operating cash flow | $854M | −$697M | $1.6B | — |
| Free cash flow (OCF − capex) | $850M | −$699M | $1.5B | — |
| Capital expenditures | $4.1M | $2.1M | $2.0M | +95% |
Questions
How much did PennyMac Financial Services's revenue grow year over year in Q3 2026?
PennyMac Financial Services's revenue fell $164M (-26%) from $633M in Q3 2025 to $469M in Q3 2026. Operating margin 9.1% against 37.3% (-28.3 pts).