PMT FINANCIAL STATEMENTS

PennyMac Mortgage Investment Trust — balance sheet, income statement and cash flow trends

PMTPennyMac Mortgage Investment Trust

🇺🇸 USA · NYSE · Real Estate · REIT - Mortgage

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue1.4 B $+137.5%

Gross Profit900.8 M $+188.5%

Operating Income722.8 M $+177.9%

EBITDA661.5 M $-16.7%

Net Income142.8 M $+16.1%

Peer Comparison· REIT - Mortgage

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PMT	137.5%	64.1%	47.1%	10.2%
NWH-UN	-18.4%	71.2%	41.1%	-14.0%
AP-UN	-2.2%	51.6%	-208.6%	-233.3%
AKFIS	7.4%	9.1%	132.2%	22.2%
ASK	—	73.3%	120.7%	116.8%
YGGYO	8.1%	77.9%	80.2%	169.0%
Industry median	19.5%	71.0%	61.0%	13.4%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PMT	137.5%	64.1%	47.1%	10.2%
MFA	161.8%	61.6%	56.4%	18.8%
NREF	11.0%	80.8%	104.2%	70.2%
CIM	105.7%	51.5%	50.9%	3.0%
ABR	97.1%	92.6%	72.9%	9.8%
LADR	-13.2%	71.1%	69.0%	13.7%
Industry median	19.5%	71.0%	61.0%	13.4%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity1.9 B $8%
Current Liabilities7.6 B $34%
Long-term Liabilities13 B $58%

Key Figures

YoY change

Total Assets22.5 B $+51.3%

Total Liabilities20.6 B $+59.1%

Total Equity1.9 B $-1.9%

Cash & ST Investments1.4 B $-11.0%

Total Debt20.3 B $+60.6%

Net Debt19.1 B $+69.1%

Peer Comparison· REIT - Mortgage

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PMT	0.07	1,086.8%	28.59	8.3%
NWH-UN	0.51	91.6%	8.27	43.6%
AP-UN	1.41	94.8%	-3.38	48.5%
AKFIS	1.48	66.4%	2.55	54.5%
ASK	1.48	52.8%	3.87	63.4%
YGGYO	11.30	2.0%	-1.86	94.7%
Industry median	0.08	461.9%	20.67	15.8%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PMT	0.07	1,086.8%	28.59	8.3%
MFA	4.57	365.1%	15.55	13.4%
NREF	0.44	1,120.2%	28.16	7.4%
CIM	0.08	516.9%	37.88	15.4%
ABR	0.13	395.8%	12.43	19.5%
LADR	0.04	278.3%	14.39	25.8%
Industry median	0.08	461.9%	20.67	15.8%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-9.1 B $—

Capital Expenditures0 $-100.0%

Free Cash Flow-9.1 B $—

Dividends Paid-181.2 M $-200.0%

Peer Comparison· REIT - Mortgage

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PMT	-651.2%	-651.2%	0.0%	-6,406.0%
NWH-UN	40.9%	41.2%	0.5%	-293.1%
AP-UN	41.6%	41.5%	0.1%	-17.8%
AKFIS	42.2%	41.3%	0.5%	189.9%
ASK	33.7%	31.4%	2.3%	28.8%
YGGYO	104.2%	93.3%	7.4%	61.6%
Industry median	16.3%	14.1%	0.1%	57.6%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PMT	-651.2%	-651.2%	0.0%	-6,406.0%
MFA	22.6%	22.6%	0.0%	120.2%
NREF	11.0%	11.0%	0.0%	15.7%
CIM	-8.5%	-8.5%	12.0%	-281.8%
ABR	17.7%	16.3%	8.1%	179.5%
LADR	26.9%	26.9%	0.5%	195.9%
Industry median	16.3%	14.1%	0.1%	57.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.