PennyMac Financial Services (PFSI) Operating Expenses (2017 - 2026)
PennyMac Financial Services (PFSI) posted quarterly 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 reported Operating Expenses for 10 consecutive years, with $440.3 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 34.77% year-over-year to $440.3 million; the TTM figure through Mar 2026 stood at $1.6 billion (up 27.92% YoY), while the FY2025 annual figure was $1.5 billion, up 25.36% from the prior year.
- Operating Expenses rose to $440.3 million in Q1 2026 per PFSI's latest filing, from $403.6 million in the prior quarter.
- Across five years, Operating Expenses topped out at $440.3 million in Q1 2026 and bottomed at $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.
- Annual changes were most pronounced in 2022 — Operating Expenses tumbled 40.68% — and 2023, when it surged 52.6%.
- PennyMac Financial Services' Operating Expenses stood at $272.7 million in 2022, then soared by 52.6% to $416.2 million in 2023, then retreated by 18.12% to $340.7 million in 2024, then grew by 18.45% to $403.6 million in 2025, then increased 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 39.83 Bn | 36.73 Bn | - | 2.50 Bn |
| 2 | Federal National Mortgage Association Fannie Mae | 36.55 Bn | 36.55 Bn | - | 2.07 Bn |
| 3 | Federal Home Loan Mortgage | 18.24 Bn | 13.92 Bn | - | 2.10 Bn |
| 4 | PennyMac Financial Services | 3.90 Bn | 3.15 Bn | 480.08 Mn | 465.44 Mn |
| 5 | CNFinance Holdings | 1.54 Bn | 1.46 Bn | - | - |
| 6 | Walker & Dunlop | 1.33 Bn | 1.17 Bn | - | 304.62 Mn |
| 7 | Velocity Financial | 707.21 Mn | -6.75 Bn | - | 59.75 Mn |
| 8 | UWM Holdings | 476.01 Mn | -22.40 Mn | - | 635.05 Mn |
| 9 | Onity | 304.56 Mn | 108.26 Mn | - | 139.00 Mn |
| 10 | loanDepot | 207.67 Mn | -103.47 Mn | - | 343.94 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 465.44 Mn |
| 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 |