PennyMac Financial Services (PFSI) Operating Expenses (2017 - 2026)

PennyMac Financial Services' (PFSI) quarterly Operating Expenses came in at $440.3 million in Q1 2026, up 34.77% year-on-year from $326.7 million in Q1 2025, and up 9.09% on a QoQ basis 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.

  • On a quarterly basis, Operating Expenses rose 34.77% year-over-year to $440.3 million in Q1 2026; TTM through Mar 2026 was $1.6 billion, a 27.92% increase from a year earlier, with the FY2025 full-year figure at $1.5 billion, up 25.36% from the prior year.
  • Operating Expenses for Q1 2026 stood at $440.3 million, up from $403.6 million in the prior quarter.
  • Over the last five years, Operating Expenses for PFSI reached as high as $440.3 million in Q1 2026 and fell as low as $261.8 million in Q1 2024.
  • Historically, Operating Expenses has averaged $333.3 million across 5 years, with a median of $326.7 million in 2025.
  • Across the five-year window, Operating Expenses sank 40.68% in 2022 and soared 52.6% in 2023, its largest moves.
  • Year by year, Operating Expenses stood at $272.7 million in 2022, then surged by 52.6% to $416.2 million in 2023, then slipped by 18.12% to $340.7 million in 2024, then rose by 18.45% to $403.6 million in 2025, then gained by 9.09% to $440.3 million in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $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 38.33 Bn 35.64 Bn - 2.54 Bn
2 Federal National Mortgage Association Fannie Mae 35.67 Bn 35.67 Bn - 2.18 Bn
3 Federal Home Loan Mortgage 18.11 Bn 13.64 Bn - 2.02 Bn
4 PennyMac Financial Services 4.41 Bn 3.76 Bn 523.89 Mn 440.29 Mn
5 CNFinance Holdings 3.28 Bn 3.20 Bn - -
6 Walker & Dunlop 1.64 Bn 1.44 Bn - 275.38 Mn
7 Velocity Financial 681.36 Mn -6.51 Bn - 54.34 Mn
8 UWM Holdings 540.43 Mn 116.43 Mn - 575.39 Mn
9 Better Home & Finance Holding 362.34 Mn 298.07 Mn - 98.41 Mn
10 Onity 340.51 Mn 215.81 Mn - 132.20 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