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
DateValue
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