PennyMac Financial Services (PFSI) Cost of Revenue (2017 - 2026)

PennyMac Financial Services' (PFSI) quarterly Cost of Revenue came in at $21.1 million in Q1 2026, up 123.64% year-on-year from $9.4 million in Q1 2025, and up 104.74% on a QoQ basis from $10.3 million in Q4 2025.

PennyMac Financial Services (PFSI) Cost of Revenue (2017 - 2026) Analysis & Trends

PennyMac Financial Services (PFSI) has 9 years of Cost of Revenue data on file, last reported at $21.1 million in Q1 2026.

  • On a quarterly basis, Cost of Revenue rose 123.64% year-over-year to $21.1 million in Q1 2026; TTM through Mar 2026 was $57.8 million, a 108.45% increase from a year earlier, with the FY2025 full-year figure at $46.1 million, up 110.02% from the prior year.
  • Cost of Revenue for Q1 2026 stood at $21.1 million, up from $10.3 million in the prior quarter.
  • Over the last five years, Cost of Revenue for PFSI reached as high as $22.4 million in Q1 2022 and fell as low as $3.2 million in Q1 2023.
  • Historically, Cost of Revenue has averaged $9.0 million across 5 years, with a median of $7.6 million in 2022.
  • Across the five-year window, Cost of Revenue soared 236.13% in 2022 and slumped 85.53% in 2023, its largest moves.
  • Year by year, Cost of Revenue stood at $3.8 million in 2022, then grew by 11.44% to $4.2 million in 2023, then surged by 85.77% to $7.8 million in 2024, then surged by 32.69% to $10.3 million in 2025, then soared by 104.74% to $21.1 million in 2026.
  • Per Business Quant data, the three most recent Cost of Revenue figures were $21.1 million in Q1 2026, $10.3 million in Q4 2025, and $14.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Rocket Companies 38.33 Bn 35.64 Bn - -
2 Federal National Mortgage Association Fannie Mae 35.67 Bn 35.67 Bn - -
3 Federal Home Loan Mortgage 18.11 Bn 13.64 Bn - -
4 PennyMac Financial Services 4.41 Bn 3.76 Bn 523.89 Mn 21.09 Mn
5 CNFinance Holdings 3.28 Bn 3.20 Bn - -
6 Walker & Dunlop 1.64 Bn 1.44 Bn - -
7 Velocity Financial 681.36 Mn -6.51 Bn - -
8 UWM Holdings 540.43 Mn 116.43 Mn - -
9 Better Home & Finance Holding 362.34 Mn 298.07 Mn - -
10 Onity 340.51 Mn 215.81 Mn - -

Historic Data

Download Data
DateValue
Mar 31, 2026 21.09 Mn
Mar 31, 2026 21.09 Mn
Dec 31, 2025 10.30 Mn
Dec 31, 2025 10.30 Mn
Sep 30, 2025 14.02 Mn
Sep 30, 2025 14.02 Mn
Jun 30, 2025 12.39 Mn
Jun 30, 2025 12.39 Mn
Mar 31, 2025 9.43 Mn
Mar 31, 2025 9.43 Mn
Dec 31, 2024 7.77 Mn
Dec 31, 2024 7.77 Mn
Sep 30, 2024 5.09 Mn
Sep 30, 2024 5.09 Mn
Jun 30, 2024 5.45 Mn
Jun 30, 2024 5.45 Mn
Mar 31, 2024 3.67 Mn
Mar 31, 2024 3.67 Mn
Dec 31, 2023 4.18 Mn
Dec 31, 2023 4.18 Mn