PFSI · PennyMac Financial Services, Inc.
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. PFSI reported Q2 net income of $22M ($0.41 EPS, 2% ROE) and adjusted ROE of 7%, below expectations as higher rates pressured MSR values and originations. The company announced ~$60M of annualized cost cuts and flagged further refinements to its ROE path, while recapture rates improved sharply and the Cenlar subservicing acquisition remains on track for a Q4 close.
- + Refinance recapture rates rose sharply, with conventional first lien to 29% and government first lien to 59%
- + Cenlar subservicing acquisition remains on track to close in the fourth quarter
- + Company is taking targeted cost actions expected to generate ~$60M of annualized savings beginning in Q3
- + Consumer direct originations grew 103% year-over-year to $5.6 billion UPB
- + Owned MSR servicing portfolio UPB grew 5% year-over-year to $488 billion
- − Q2 net income fell 84% year-over-year to $22 million with 2% annualized ROE as MSR-related valuation losses weighed on GAAP results
- − Adjusted ROE of 7% was down from 13% a year earlier; company guides high single-digit adjusted ROEs through 2026
- − Q2 hedge costs rose to $52 million from $14 million in Q1 due to elevated interest rate volatility
- − Production expenses net of loan origination expense rose 6% quarter-over-quarter on higher capacity in consumer direct
- − Pretax production income fell 71% quarter-over-quarter to $38M, with a $23M post-lock loss driven by adverse market price changes on specialized pools
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Mortgage Finance — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PFSI
this stock
PennyMac Financial Services, Inc.
|
$3.40B | -53.2% | +3.1% | 9.0 | 5.8% |
|
RKT
Rocket Companies, Inc.
|
$34.46B | -40.5% | +31.2% | — | 4.3% |
|
FNMA
Federal National Mortgage Association Fannie Mae
|
$5.41B | -60.8% | -0.4% | 467.0 | 1.3% |
|
FMCC
Federal Home Loan Mortgage Corp
|
$2.70B | -61.4% | -2.7% | — | 1.6% |
|
UWMC
UWM Holdings Corp
|
$1.96B | -73.1% | +18.2% | — | 5.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PFSI | -5.9% | -12.8% | -32.6% | -15.6% | -53.2% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -5.3% | -12.9% | -44.8% | -15.0% | -65.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.