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| 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 |