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PFSI (PennyMac Financial Services) Piotroski F-Score : 4 (As of Jul. 15, 2025)


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What is PennyMac Financial Services Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

PennyMac Financial Services has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for PennyMac Financial Services's Piotroski F-Score or its related term are showing as below:

PFSI' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of PennyMac Financial Services was 7. The lowest was 1. And the median was 4.


PennyMac Financial Services Piotroski F-Score Historical Data

The historical data trend for PennyMac Financial Services's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

PennyMac Financial Services Piotroski F-Score Chart

PennyMac Financial Services Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 5.00 5.00 4.00 2.00

PennyMac Financial Services Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 2.00 1.00 2.00 4.00

Competitive Comparison of PennyMac Financial Services's Piotroski F-Score

For the Mortgage Finance subindustry, PennyMac Financial Services's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


PennyMac Financial Services's Piotroski F-Score Distribution in the Banks Industry

For the Banks industry and Financial Services sector, PennyMac Financial Services's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where PennyMac Financial Services's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 98.258 + 69.368 + 104.489 + 76.28 = $348 Mil.
Cash Flow from Operations was -1092.886 + -393.708 + -2148.736 + 1065.957 = $-2,569 Mil.
Revenue was 715.353 + 629.363 + 698.316 + 1069.756 = $3,113 Mil.
Gross Profit was 351.928 + 238.994 + 281.116 + 687.055 = $1,559 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(19801.741 + 21577.565 + 22871.538 + 26086.887 + 23872.876) / 5 = $22842.1214 Mil.
Total Assets at the begining of this year (Mar24) was $19,802 Mil.
Long-Term Debt & Capital Lease Obligation was $11,214 Mil.
Total Current Assets was $13,625 Mil.
Total Current Liabilities was $8,709 Mil.
Net Income was 58.25 + 92.87 + -36.842 + 39.308 = $154 Mil.

Revenue was 570.33 + 557.222 + 532.219 + 500.004 = $2,160 Mil.
Gross Profit was 252.75 + 264.44 + 215.25 + 194.779 = $927 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(20103.185 + 17984.468 + 18949.314 + 18844.563 + 19801.741) / 5 = $19136.6542 Mil.
Total Assets at the begining of last year (Mar23) was $20,103 Mil.
Long-Term Debt & Capital Lease Obligation was $9,260 Mil.
Total Current Assets was $11,386 Mil.
Total Current Liabilities was $6,900 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

PennyMac Financial Services's current Net Income (TTM) was 348. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

PennyMac Financial Services's current Cash Flow from Operations (TTM) was -2,569. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=348.395/19801.741
=0.01759416

ROA (Last Year)=Net Income/Total Assets (Mar23)
=153.586/20103.185
=0.00763988

PennyMac Financial Services's return on assets of this year was 0.01759416. PennyMac Financial Services's return on assets of last year was 0.00763988. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

PennyMac Financial Services's current Net Income (TTM) was 348. PennyMac Financial Services's current Cash Flow from Operations (TTM) was -2,569. ==> -2,569 <= 348 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=11214.229/22842.1214
=0.49094516

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=9260.477/19136.6542
=0.48391307

PennyMac Financial Services's gearing of this year was 0.49094516. PennyMac Financial Services's gearing of last year was 0.48391307. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=13624.602/8708.824
=1.56445945

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=11385.749/6900.121
=1.65007961

PennyMac Financial Services's current ratio of this year was 1.56445945. PennyMac Financial Services's current ratio of last year was 1.65007961. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

PennyMac Financial Services's number of shares in issue this year was 53.624. PennyMac Financial Services's number of shares in issue last year was 53.1. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1559.093/3112.788
=0.50086707

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=927.219/2159.775
=0.42931278

PennyMac Financial Services's gross margin of this year was 0.50086707. PennyMac Financial Services's gross margin of last year was 0.42931278. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=3112.788/19801.741
=0.15719769

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=2159.775/20103.185
=0.10743447

PennyMac Financial Services's asset turnover of this year was 0.15719769. PennyMac Financial Services's asset turnover of last year was 0.10743447. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+0+1+0+0+0+0+1+1
=4

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

PennyMac Financial Services has an F-score of 4 indicating the company's financial situation is typical for a stable company.

PennyMac Financial Services  (NYSE:PFSI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


PennyMac Financial Services Piotroski F-Score Related Terms

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PennyMac Financial Services Business Description

Traded in Other Exchanges
Address
3043 Townsgate Road, Suite 200, Westlake Village, CA, USA, 91361
PennyMac Financial Services Inc is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. residential mortgage loans. The company operates through two segments: production and servicing. The production segment performs loan origination, acquisition and sale activities. The servicing segment performs loan servicing for newly originated loans.
Executives
Daniel Stanley Perotti officer: Chief Financial Officer C/O PENNYMAC, 6101 CONDOR DRIVE, MOORPARK CA 93021
David Spector director, officer: Chairman & CEO C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
Joseph F Mazzella director C/O HIGHFIELDS CAPITAL MANAGEMENT LP, 200 CLARENDON STREET, BOSTON MA 02116
Doug Jones officer: Chief Mtge Bnkg Ofcr C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
Derek Stark officer: Chief Legal Officer 4500 PARK GRANADA, CALABASAS CA 91302
James Follette officer: Chief Mort Fulfillment Off. PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Gregory L Hendry officer: MD, Chief Accounting Officer 3300 LAKE AVENUE, ALTADENA CA 91001
Steven Richard Bailey officer: Chief Servicing Officer C/O PENNYMAC, 6101 CONDOR DRIVE, MOORPARK CA 93021
James K Hunt director THL CREDIT GROUP, 100 FEDERAL STREET, 35TH FLOOR, BOSTON MA 02110
Anne Mccallion director C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
William Herbert Chang officer: Chief Capital Markets Officer PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Patrick Kinsella director C/O PENNYMAC, 6101 CONDOR DRIVE, MOORPARK CA 93021
Donald J. White officer: Chief Risk Officer PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Vandad Fartaj officer: Chief Investment Officer C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
Farhad Nanji director C/O HIGHFIELDS CAPITAL MANAGEMENT LP, 200 CLARENDON STREET, BOSTON MA 02116