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Side-by-side financial comparison of PennyMac Mortgage Investment Trust (PMT) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $50.3M, roughly 1.9× READING INTERNATIONAL INC). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -5.1%, a 61.1% gap on every dollar of revenue. On growth, PennyMac Mortgage Investment Trust posted the faster year-over-year revenue change (-13.3% vs -14.2%). Over the past eight quarters, PennyMac Mortgage Investment Trust's revenue compounded faster (12.3% CAGR vs 5.6%).
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
PMT vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.6M | $50.3M |
| Net Profit | $52.4M | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | 38.6% | -1.9% |
| Net Margin | 56.0% | -5.1% |
| Revenue YoY | -13.3% | -14.2% |
| Net Profit YoY | 12.5% | -14.5% |
| EPS (diluted) | $0.49 | $-0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $93.6M | $50.3M | ||
| Q3 25 | $99.2M | $52.2M | ||
| Q2 25 | $70.2M | $60.4M | ||
| Q1 25 | $44.5M | $40.2M | ||
| Q4 24 | $107.9M | $58.6M | ||
| Q3 24 | $80.9M | $60.1M | ||
| Q2 24 | $71.2M | $46.8M | ||
| Q1 24 | $74.2M | $45.1M |
| Q4 25 | $52.4M | $-2.6M | ||
| Q3 25 | $58.3M | $-4.2M | ||
| Q2 25 | $7.5M | $-2.7M | ||
| Q1 25 | $9.7M | $-4.8M | ||
| Q4 24 | $46.5M | $-2.2M | ||
| Q3 24 | $41.4M | $-7.0M | ||
| Q2 24 | $25.4M | $-12.8M | ||
| Q1 24 | $47.6M | $-13.2M |
| Q4 25 | 38.6% | -1.9% | ||
| Q3 25 | 47.4% | -0.6% | ||
| Q2 25 | 24.2% | 4.8% | ||
| Q1 25 | -14.2% | -17.2% | ||
| Q4 24 | 51.1% | 2.6% | ||
| Q3 24 | 32.8% | -0.6% | ||
| Q2 24 | 40.2% | -16.4% | ||
| Q1 24 | 43.6% | -16.7% |
| Q4 25 | 56.0% | -5.1% | ||
| Q3 25 | 58.7% | -8.0% | ||
| Q2 25 | 10.7% | -4.4% | ||
| Q1 25 | 21.8% | -11.8% | ||
| Q4 24 | 43.1% | -3.8% | ||
| Q3 24 | 51.2% | -11.7% | ||
| Q2 24 | 35.7% | -27.4% | ||
| Q1 24 | 64.2% | -29.4% |
| Q4 25 | $0.49 | $-0.11 | ||
| Q3 25 | $0.55 | $-0.18 | ||
| Q2 25 | $-0.04 | $-0.12 | ||
| Q1 25 | $-0.01 | $-0.21 | ||
| Q4 24 | $0.45 | $-0.11 | ||
| Q3 24 | $0.36 | $-0.31 | ||
| Q2 24 | $0.17 | $-0.57 | ||
| Q1 24 | $0.39 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $190.5M | $10.5M |
| Total DebtLower is stronger | $1.1B | $185.1M |
| Stockholders' EquityBook value | $1.9B | $-18.2M |
| Total Assets | $21.3B | $434.9M |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.5M | $10.5M | ||
| Q3 25 | $181.0M | $8.1M | ||
| Q2 25 | $108.6M | $9.1M | ||
| Q1 25 | $204.2M | $5.9M | ||
| Q4 24 | $103.2M | $12.4M | ||
| Q3 24 | $102.8M | $10.1M | ||
| Q2 24 | $336.3M | $9.3M | ||
| Q1 24 | $343.3M | $7.5M |
| Q4 25 | $1.1B | $185.1M | ||
| Q3 25 | $299.0M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $968.4M | — | ||
| Q4 24 | $1.0B | $202.7M | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $5.4B | — | ||
| Q1 24 | $5.1B | — |
| Q4 25 | $1.9B | $-18.2M | ||
| Q3 25 | $1.9B | $-12.1M | ||
| Q2 25 | $1.9B | $-7.7M | ||
| Q1 25 | $1.9B | $-8.1M | ||
| Q4 24 | $1.9B | $-4.4M | ||
| Q3 24 | $1.9B | $1.6M | ||
| Q2 24 | $1.9B | $6.5M | ||
| Q1 24 | $2.0B | $18.0M |
| Q4 25 | $21.3B | $434.9M | ||
| Q3 25 | $18.5B | $435.2M | ||
| Q2 25 | $16.8B | $438.1M | ||
| Q1 25 | $14.9B | $441.0M | ||
| Q4 24 | $14.4B | $471.0M | ||
| Q3 24 | $13.1B | $495.7M | ||
| Q2 24 | $12.1B | $494.9M | ||
| Q1 24 | $12.3B | $494.9M |
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 2.70× | — | ||
| Q2 24 | 2.76× | — | ||
| Q1 24 | 2.60× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-7.2B | $4.3M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 8.2% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | -137.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.2B | $4.3M | ||
| Q3 25 | $-1.3B | $295.0K | ||
| Q2 25 | $-2.0B | $1.6M | ||
| Q1 25 | $-594.3M | $-7.7M | ||
| Q4 24 | $-2.7B | $8.0M | ||
| Q3 24 | $-983.8M | $1.3M | ||
| Q2 24 | $243.8M | $-10.4M | ||
| Q1 24 | $-342.4M | $-2.8M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $-246.0K | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -19.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | -1.8% | ||
| Q2 24 | — | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | -137.76× | — | ||
| Q3 25 | -22.26× | — | ||
| Q2 25 | -267.53× | — | ||
| Q1 25 | -61.39× | — | ||
| Q4 24 | -58.08× | — | ||
| Q3 24 | -23.76× | — | ||
| Q2 24 | 9.59× | — | ||
| Q1 24 | -7.19× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
