PennyMac Financial Services (PFSI) Operating Expenses (2017 - 2026)
PennyMac Financial Services (PFSI) reported Operating Expenses of $440.3 million for Q1 2026, up 34.77% year-over-year from $326.7 million in Q1 2025, and up 9.09% quarter-over-quarter from $403.6 million in Q4 2025.
PennyMac Financial Services (PFSI) Operating Expenses (2017 - 2026) Analysis & Trends
PennyMac Financial Services (PFSI) has 10 years of Operating Expenses data on file, last reported at $440.3 million in Q1 2026.
- Operating Expenses for Q1 2026 came in at $440.3 million, up 34.77% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.6 billion (up 27.92% YoY), and the FY2025 annual result was $1.5 billion, up 25.36% from the prior year.
- Operating Expenses advanced to $440.3 million in Q1 2026 per PFSI's latest filing, from $403.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $440.3 million in Q1 2026 and troughed at $261.8 million in Q1 2024.
- A 5-year average of $333.3 million and a median of $326.7 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses tumbled 40.68% in 2022, then surged 52.6% in 2023.
- A 5-year view of Operating Expenses shows it stood at $272.7 million in 2022, then surged by 52.6% to $416.2 million in 2023, then fell by 18.12% to $340.7 million in 2024, then climbed by 18.45% to $403.6 million in 2025, then grew by 9.09% to $440.3 million in 2026.
- Business Quant data shows PFSI's Operating Expenses at $440.3 million in Q1 2026, $403.6 million in Q4 2025, and $396.5 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 34.85 Bn | 32.16 Bn | - | 2.54 Bn |
| 2 | PennyMac Financial Services | 4.14 Bn | 3.65 Bn | 523.89 Mn | 440.29 Mn |
| 3 | Walker & Dunlop | 1.73 Bn | 1.55 Bn | - | 275.38 Mn |
| 4 | UWM Holdings | 743.45 Mn | 1.57 Bn | - | 575.39 Mn |
| 5 | Velocity Financial | 668.42 Mn | 583.96 Mn | - | 54.34 Mn |
| 6 | CNFinance Holdings | 591.78 Mn | 542.97 Mn | - | - |
| 7 | Better Home & Finance Holding | 419.52 Mn | 349.24 Mn | - | 98.41 Mn |
| 8 | Onity | 306.24 Mn | 306.24 Mn | - | 132.20 Mn |
| 9 | loanDepot | 209.70 Mn | -4.79 Mn | - | 341.50 Mn |
| 10 | Greystone Housing Impact Investors | 120.06 Mn | 120.06 Mn | - | 17.75 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 440.29 Mn |
| Dec 31, 2025 | 403.60 Mn |
| Sep 30, 2025 | 396.52 Mn |
| Jun 30, 2025 | 368.29 Mn |
| Mar 31, 2025 | 326.71 Mn |
| Dec 31, 2024 | 340.75 Mn |
| Sep 30, 2024 | 317.91 Mn |
| Jun 30, 2024 | 272.27 Mn |
| Mar 31, 2024 | 261.78 Mn |
| Dec 31, 2023 | 416.17 Mn |
| Sep 30, 2023 | 273.51 Mn |
| Jun 30, 2023 | 263.63 Mn |
| Mar 31, 2023 | 264.72 Mn |
| Dec 31, 2022 | 272.72 Mn |
| Sep 30, 2022 | 290.82 Mn |
| Jun 30, 2022 | 333.99 Mn |
| Mar 31, 2022 | 422.98 Mn |
| Dec 31, 2021 | 459.70 Mn |
| Sep 30, 2021 | 447.06 Mn |
| Jun 30, 2021 | 462.74 Mn |