Q3 2026 Revenue down 64% year over year to $36.2M · 70¢ of every $1 of revenue lost · operating margin -45.4%
PennyMac Mortgage Investment Trust made $36.2M in Q3 2026 (-64% Y/Y). Operating margin -45.4%, net loss $25.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Revenue$36.2M
Year over year-64%
Operating margin-45.4%
Net earnings−$25.4M
Operating cash flow−$2.7B
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 $36.2M in Q3 2026, down 63% year over year and down 50% from the previous quarter.
Operating costs exceeded revenue by $16.4M, an operating margin of -45.4%. Total costs grew 1% against a revenue fall of 63%. The quarter ended with a net loss of $25.4M, after a profit of $30.9M the previous quarter.
Operating cash flow was −$2,742.5M. Non-cash charges added back $752K of share-based compensation. Working capital and other items used $2,717.9M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 3, 2026
$36.2M
-64%
-45.4%
−$25.4M
−$2.7B
Q2 2026
10-Q
Aug 4, 2026
$72.7M
+4%
23.1%
$30.9M
−$2.9B
Q1 2026
10-Q
May 5, 2026
$82.1M
+85%
32.7%
$24.6M
−$2.5B
Q4 2025
10-K
Feb 18, 2026
$93.6M
-13%
38.6%
$52.4M
−$3.3B
Q3 2025
10-Q
Oct 29, 2025
$99.2M
+23%
47.4%
$58.3M
−$1.3B
Q2 2025
10-Q
Jul 30, 2025
$70.2M
-1%
24.2%
$7.5M
−$2.0B
Q1 2025
10-Q
Apr 30, 2025
$44.5M
-40%
-14.2%
$9.7M
−$594M
Charts
Latest (Q3 2026): Y/Y -64%, Q/Q -50%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income −$25.4M, Operating cash flow −$2.7B.-12.5% since FY2020: buybacks shrank the count.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
PFSI — 9% of the supplier’s revenue · Stated in 10-K (XBRL) · source
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at pmt.pennymac.com .
In its own words, from its 8-K, filed Jul 29, 2026.
PennyMac Mortgage Investment Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -64% against the peers' median +11%. Operating margin: -45.4% against the peers' median 15.9%.