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PennyMac Mortgage Investment Trust vs TPG RE Finance Trust: PMT and TRTX compared
PennyMac Mortgage Investment Trust is the larger company: $36.2M of revenue in its latest quarter (Q3 2026) against $35.9M for TPG RE Finance Trust (Q3 2026). TPG RE Finance Trust is growing faster (-5% against -64% a year earlier). TPG RE Finance Trust is more profitable, with an operating margin of 26.4% against -45.4%.
Where the money goes: PMT and TRTX
PennyMac Mortgage Investment Trust (PMT) · Q3 2026
PennyMac Mortgage Investment Trust, Q3 2026: revenue $36.2M (-64% year over year), operating margin -45.4%, net loss $25.4M, operating cash flow −$2.7B. The chart follows the revenue to costs, profit and cash.
TPG RE Finance Trust (TRTX) · Q3 2026
TPG RE Finance Trust, Q3 2026: revenue $35.9M (-5% year over year), operating margin 26.4%, net earnings $9.4M, operating cash flow $14.4M. The chart follows the revenue to costs, profit and cash.
| PennyMac Mortgage Investment Trust (PMT) | TPG RE Finance Trust (TRTX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $36.2M | $35.9M |
| Revenue growth, Y/Y | -64% | -5% |
| Operating margin | -45.4% | 26.4% |
| Net earnings | −$25.4M | $9.4M |
| Net margin | -70.0% | 26.1% |
| Operating cash flow | −$2.7B | $14.4M |
| Free cash flow | — | $12.2M |
| Market value | $642M | — |
| P/E | 15.7× | — |
| Analysts’ mean target | $9.75 | — |
Where the revenue comes from
TPG RE Finance Trust
- Net interest income: $26.7M (74%)
- Noninterest income: $9.2M (26%)
Questions
Which is bigger, PennyMac Mortgage Investment Trust or TPG RE Finance Trust?
PennyMac Mortgage Investment Trust is the larger company: $36.2M of revenue in its latest quarter (Q3 2026) against $35.9M for TPG RE Finance Trust (Q3 2026).
Is PennyMac Mortgage Investment Trust or TPG RE Finance Trust growing faster?
TPG RE Finance Trust is growing faster (-5% against -64% a year earlier).
Which is more profitable, PennyMac Mortgage Investment Trust or TPG RE Finance Trust?
TPG RE Finance Trust is more profitable, with an operating margin of 26.4% against -45.4%.
More: PennyMac Mortgage Investment Trust earnings · how PennyMac Mortgage Investment Trust makes money · TPG RE Finance Trust earnings · how TPG RE Finance Trust makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 26, 2026). Fiscal quarters can end on different dates. Not investment advice.