PFSI FY 2022 Earnings Report — PennyMac Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

PennyMac Financial Services, Inc.PFSI

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.3B	—	$3.6B	—	-34.8%
Op. Income	$689M	—	$1.4B	—	-49.3%
Gross Margin	56.3%	—	59.9%	—	-3.6pp
Net Margin	20.5%	—	28.2%	—	-7.7pp
EPS (Diluted)	$8.50	—	$14.87	—	-42.8%
Free Cash Flow	$6.0B	—	$2.5B	—	137.4%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$47M
General & Administrative	$291M
SG&A Expenses	$338M
Other Expenses	$280M
Operating Expenses	$618M
Cost & Expenses	$1.6B
OPERATING INCOME	$689M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$665M
Income Tax Expense	$190M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$50M
EBIT	$689M
EBITDA	$739M
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$47M
General & Administrative	$291M
SG&A Expenses	$338M
Other Expenses	$280M
Operating Expenses	$618M
Cost & Expenses	$1.6B
OPERATING INCOME	$689M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$23M
INCOME BEFORE TAX	$665M
Income Tax Expense	$190M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$476M
D&A	$50M
EBIT	$689M
EBITDA	$739M
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$476M
Depreciation & Amortization	$50M
Stock-Based Compensation	$43M
Deferred Income Tax	$0
Other Non-Cash Items	$5.2B
Change in Working Capital	$310M
OPERATING CASH FLOW	$6.0B
Capital Expenditure	-$83M
Acquisitions (Net)	$0
Purchases of Investments	-$877M
Sales/Maturities of Investments	$0
Other Investing Activities	$163M
NET CASH FROM INVESTING	-$722M
Net Debt Issuance	$455M
Common Stock Repurchased	-$406M
Common Dividends Paid	-$55M
Other Financing Activities	-$4.3B
NET CASH FROM FINANCING	-$4.3B
FREE CASH FLOW	$6.0B
Net Change in Cash	$988M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$12M
Net Receivables	$8.3B
Inventory	$0
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$10.5B
PP&E (Net)	$94M
Goodwill	$0
Intangible Assets	$6.1B
Long-Term Investments	$929.0K
Tax Assets	$0
Other Non-Current Assets	$144M
TOTAL NON-CURRENT ASSETS	$6.3B
TOTAL ASSETS	$16.8B
Account Payables	$553M
Short-Term Debt	$3.0B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$8.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$31M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$13.4B
Common Stock	$5.0K
Additional Paid-In Capital	$0
Retained Earnings	$3.5B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$16.8B
Total Debt	$11.8B
Net Debt	$10.5B