GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » PennyMac Mortgage Investment Trust (NYSE:PMT) » Definitions » Sloan Ratio %

PennyMac Mortgage Investment Trust (PennyMac Mortgage Investment Trust) Sloan Ratio %

: -8.53% (As of Dec. 2023)
View and export this data going back to 2009. Start your Free Trial

Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

PennyMac Mortgage Investment Trust's Sloan Ratio for the quarter that ended in Dec. 2023 was -8.53%.

As of Dec. 2023, PennyMac Mortgage Investment Trust has a Sloan Ratio of -8.53%, indicating the company is in the safe zone and there is no funny business with accruals.


PennyMac Mortgage Investment Trust Sloan Ratio % Historical Data

The historical data trend for PennyMac Mortgage Investment Trust's Sloan Ratio % 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 Mortgage Investment Trust Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Sloan Ratio %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 33.27 -5.26 12.95 0.07 -8.53

PennyMac Mortgage Investment Trust Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Sloan Ratio % 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 Premium Member Only Premium Member Only Premium Member Only 0.07 19.79 3.49 -5.30 -8.53

Competitive Comparison

For the REIT - Mortgage subindustry, PennyMac Mortgage Investment Trust's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Mortgage Investment Trust Sloan Ratio % Distribution

For the REITs industry and Real Estate sector, PennyMac Mortgage Investment Trust's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where PennyMac Mortgage Investment Trust's Sloan Ratio % falls into.



PennyMac Mortgage Investment Trust Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

PennyMac Mortgage Investment Trust's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Sloan Ratio=(Net Income (A: Dec. 2023 )-Cash Flow from Operations (A: Dec. 2023 )
-Cash Flow from Investing (A: Dec. 2023 ))/Total Assets (A: Dec. 2023 )
=(199.654-1340.173
--21.726)/13113.887
=-8.53%

PennyMac Mortgage Investment Trust's Sloan Ratio for the quarter that ended in Dec. 2023 is calculated as

Sloan Ratio=(Net Income (TTM)-Cash Flow from Operations (TTM))
-Cash Flow from Investing (TTM))/Total Assets (Q: Dec. 2023 )
=(199.654-1340.173
--21.726)/13113.887
=-8.53%

PennyMac Mortgage Investment Trust's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 60.697 (Mar. 2023 ) + 24.624 (Jun. 2023 ) + 61.422 (Sep. 2023 ) + 52.911 (Dec. 2023 ) = $199.7 Mil.
PennyMac Mortgage Investment Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was -1276.212 (Mar. 2023 ) + 2019.736 (Jun. 2023 ) + 63.638 (Sep. 2023 ) + 533.011 (Dec. 2023 ) = $1,340.2 Mil.
PennyMac Mortgage Investment Trust's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -122.743 (Mar. 2023 ) + -9.913 (Jun. 2023 ) + 193.138 (Sep. 2023 ) + -82.208 (Dec. 2023 ) = $-21.7 Mil.

* 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.


PennyMac Mortgage Investment Trust  (NYSE:PMT) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Dec. 2023, PennyMac Mortgage Investment Trust has a Sloan Ratio of -8.53%, indicating the company is in the safe zone and there is no funny business with accruals.


PennyMac Mortgage Investment Trust Sloan Ratio % Related Terms

Thank you for viewing the detailed overview of PennyMac Mortgage Investment Trust's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.


PennyMac Mortgage Investment Trust (PennyMac Mortgage Investment Trust) Business Description

Traded in Other Exchanges
Address
3043 Townsgate Road, Westlake Village, CA, USA, 91361
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The company's operations include activities such as production and servicing of financial securities based on residential loans and pooling and reselling of high-credit-quality mortgages. The company operates through four segments: correspondent production, credit-sensitive strategies, interest-rate-sensitive strategies, and corporate activities. The correspondent production segment, which generates income via purchasing, pooling, and reselling of loans or mortgage-backed securities accounts for roughly half of the company's income.
Executives
Scott W. Carnahan director 3820 VISTA AZUL, SAN CLEMENTE CA 92672
Catherine A. Lynch director 55 EAST 52ND STREET, NEW YORK NY 10055
Donna M Corley director 8200 JONES BRANCH DRIVE, MCLEAN VA 22102
Doug Jones officer: Chief Correspondent Lending Of C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
William Herbert Chang officer: Chief Investment Officer PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Stacey D. Stewart director 5920 WALHONDING ROAD, BETHESDA MD 20816
Marianne Sullivan director C/O PENNYMAC, 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
David Spector officer: President and COO, other: Trustee C/O PENNYMAC, 6101 CONDOR DRIVE, UPPER LEVEL, MOORPARK CA 93021
James Follette officer: Chief Mortgage Fulfillment Ofr PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Renee Schultz director C/O PENNYMAC, 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361
Derek Stark officer: Chief Legal Officer 4500 PARK GRANADA, CALABASAS CA 91302
Frank P Willey director 1701 VILLAGE CENTER CIRCLE, LAS VEGAS NV 18934
Randall D. Hadley director 23821 FAIRGREENS EAST, LAGUNA NIGUEL CA 92677
Nancy Mcallister, director 30 CAMP WOODBINE ROAD, PORT JEFFERSON NY 11777
Preston Paul Dufauchard, Jr. director 11230 ELVESSA STREET, OAKLAND CA 94605