For the quarter ending 2026-03-31, PFSI had -$82,167K decrease in cash & cash equivalents over the period. -$1,344,223K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 82,322 | 106,831 | 181,503 | 212,743 |
| Net gains on loans held for sale at fair value | 344,985 | 301,603 | 314,455 | 455,696 |
| Change in fair value of mortgage servicing rights, mortgage servicing liabilities | - | 1,413,280 | - | - |
| Change in fair value of mortgage servicing rights and mortgage servicing liabilities | -898,307 | - | 392,174 | 678,126 |
| Mortgage servicing rights hedging results | -207,287 | -39,432 | 98,306 | -2,328 |
| Accrual of unearned discounts on principal-only stripped mortgage-backed securities | 5,185 | -14,359 | -13,642 | -18,034 |
| Capitalization of interest on loans held for sale | 3,632 | 310 | 241 | 1,598 |
| Amortization of debt issuance costs | 8,650 | 7,923 | 7,558 | 17,277 |
| Results of real estate acquired in settlement in loans | -2,316 | -2,304 | -981 | -178 |
| Change in fair value of investment in common shares of pennymac mortgage investment trust | -66 | 21 | -45 | 21 |
| Repricing of payable to exchanged private national mortgage acceptance company, llc unitholders under tax receivable agreement | - | 49 | 0 | 1,092 |
| Stock-based compensation expense | 2,447 | 7,698 | 9,929 | 18,602 |
| Provision for servicing advance losses | 19,962 | 24,885 | 10,130 | 11,970 |
| Depreciation and amortization | 13,510 | 12,809 | 12,956 | 28,627 |
| Impairment of capitalized software | 317 | 264 | 4,333 | - |
| Amortization of operating lease right-of-use assets | 4,227 | 4,408 | 3,519 | 7,036 |
| Purchase of loans held for sale from non-affiliates | - | 60,191,323 | - | - |
| Purchase of loans held for sale from pennymac mortgage investment trust | - | 39,421 | 5,474,275 | 47,382,225 |
| Purchase of loans held for sale from non-affiliates | 111,160 | - | 24,718,142 | 2,202,139 |
| Origination of loans held for sale | 10,510,064 | 9,461,319 | 7,013,649 | 11,725,361 |
| Purchase of loans from ginnie mae securities and early buyout investors | 661,341 | 667,969 | 1,216,687 | 2,195,739 |
| Sale to non-affiliates and principal payment of loans held for sale | 32,611,319 | 35,824,264 | 33,549,142 | 62,243,471 |
| Sale of loans held for sale to pennymac mortgage investment trust | 4,380,289 | 5,543,699 | 3,983,322 | 1,689,692 |
| Repurchase of loans subject to representations and warranties | 24,922 | 36,753 | 31,711 | 45,360 |
| (increase) decrease in servicing advances | 97,071 | 259,586 | 28,301 | -35,809 |
| Increase in receivable from pennymac mortgage investment trust | 4,096 | -19,355 | 12,359 | 3,897 |
| Sale of real estate acquired in settlement of loans | 25,695 | 23,396 | 16,251 | 37,325 |
| Increase in other assets | 15,605 | 10,610 | 62,829 | -9,541 |
| (decrease) increase in accounts payable and accrued expenses | -182,123 | 145,844 | 68,172 | 48,838 |
| Decrease in operating lease liabilities | -3,935 | -4,471 | -4,283 | -9,563 |
| Decrease in payable to pennymac mortgage investment trust | -20,814 | 39,543 | -2,451 | -32,648 |
| Increase in income taxes payable | 22,471 | 32,625 | 53,943 | -33,548 |
| Net cash (used in) provided by operating activities | -1,341,973 | -1,889,253 | -697,373 | 934,642 |
| Increase in short-term investment | 24,183 | 347,809 | -400,034 | 41,709 |
| Repayment of principal-only stripped mortgage-backed securities | -58,069 | -73,875 | -34,991 | -84,267 |
| Net settlement of derivative financial instruments used for hedging of mortgage servicing rights | 171,613 | -10,967 | -154,352 | 10,913 |
| Sale of mortgage servicing rights to non-affiliates | - | 442,584 | 165,162 | - |
| Adjustment to sales of mortgage servicing rights to non-affiliates | 6,429 | - | - | - |
| Sale of mortgage servicing rights to pennymac mortgage investment trust | 3,922 | 5,589 | 1,895 | - |
| Acquisition of capitalized software | 15,925 | 14,800 | 8,201 | 16,283 |
| Purchase of furniture, fixtures, equipment and leasehold improvements | 2,250 | 8,170 | 2,075 | 1,676 |
| Increase in margin deposits | -13,884 | 235,752 | -6,884 | 140,719 |
| Net cash (used in) provided by investing activities | -144,525 | -73,516 | 753,042 | -127,033 |
| Sale of assets under agreements to repurchase | 38,971,144 | 42,929,510 | 37,858,243 | 63,703,978 |
| Repurchase of assets sold under agreements to repurchase | 37,588,456 | 41,267,708 | 38,073,426 | 65,044,887 |
| Issuance of mortgage loan participation purchase and sale certificates | -6,985,112 | -6,829,241 | -6,659,423 | -12,277,214 |
| Repayment of mortgage loan participation purchase and sale certificates | 6,990,883 | 6,832,039 | 6,660,771 | 12,072,836 |
| Issuance of notes payable secured by mortgage servicing assets | 100,000 | 50,000 | 425,000 | 100,000 |
| Repayment of notes payable secured by mortgage servicing assets | - | 50,000 | 425,000 | 825,000 |
| Issuance of unsecured senior notes | - | 0 | 650,000 | 1,700,000 |
| Repayment of unsecured senior notes | - | 0 | 0 | 650,000 |
| Payment of debt issuance costs | 4,504 | 2,976 | 13,299 | 43,763 |
| Issuance of common stock by exercise of stock options | 3,710 | 2,431 | 4,441 | 5,965 |
| Payment of withholding taxes relating to stock-based compensation | 6,186 | 0 | 0 | 3,763 |
| Payment of dividends to holders of common stock | 15,595 | 15,931 | 15,806 | 30,813 |
| Repurchase of common stock | 50,011 | 0 | 4,739 | - |
| Net cash provided by (used in) financing activities | 1,404,331 | 1,642,528 | 404,066 | -883,905 |
| Net decrease in cash | -82,167 | -320,241 | 459,735 | -76,296 |
| Restricted cash included in other assets | - | 0 | - | - |
| Cash at beginning of quarter | 301,680 | 621,921 | 238,482 | - |
| Cash at end of quarter | 219,513 | 301,680 | 621,921 | - |
PennyMac Financial Services, Inc. (PFSI)
PennyMac Financial Services, Inc. (PFSI)