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Side-by-side financial comparison of PennyMac Mortgage Investment Trust (PMT) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). 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 $91.6M, roughly 1.0× SHENANDOAH TELECOMMUNICATIONS CO). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs -5.9%, a 61.8% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -13.3%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 12.3%).
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.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
PMT vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.6M | $91.6M |
| Net Profit | $52.4M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 38.6% | -1.0% |
| Net Margin | 56.0% | -5.9% |
| Revenue YoY | -13.3% | 7.2% |
| Net Profit YoY | 12.5% | -95.8% |
| EPS (diluted) | $0.49 | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $99.2M | $89.8M | ||
| Q2 25 | $70.2M | $88.6M | ||
| Q1 25 | $44.5M | $87.9M | ||
| Q4 24 | $107.9M | $85.4M | ||
| Q3 24 | $80.9M | $87.6M | ||
| Q2 24 | $71.2M | $85.8M | ||
| Q1 24 | $74.2M | $69.2M |
| Q4 25 | $52.4M | $-5.4M | ||
| Q3 25 | $58.3M | $-9.4M | ||
| Q2 25 | $7.5M | $-9.0M | ||
| Q1 25 | $9.7M | $-9.1M | ||
| Q4 24 | $46.5M | $-2.7M | ||
| Q3 24 | $41.4M | $-5.3M | ||
| Q2 24 | $25.4M | $-12.9M | ||
| Q1 24 | $47.6M | $214.7M |
| Q4 25 | 38.6% | -1.0% | ||
| Q3 25 | 47.4% | -8.0% | ||
| Q2 25 | 24.2% | -10.3% | ||
| Q1 25 | -14.2% | -6.9% | ||
| Q4 24 | 51.1% | -6.7% | ||
| Q3 24 | 32.8% | -4.8% | ||
| Q2 24 | 40.2% | -18.5% | ||
| Q1 24 | 43.6% | -4.0% |
| Q4 25 | 56.0% | -5.9% | ||
| Q3 25 | 58.7% | -10.5% | ||
| Q2 25 | 10.7% | -10.2% | ||
| Q1 25 | 21.8% | -10.4% | ||
| Q4 24 | 43.1% | -3.2% | ||
| Q3 24 | 51.2% | -6.0% | ||
| Q2 24 | 35.7% | -15.0% | ||
| Q1 24 | 64.2% | 310.0% |
| Q4 25 | $0.49 | $-0.13 | ||
| Q3 25 | $0.55 | $-0.20 | ||
| Q2 25 | $-0.04 | $-0.19 | ||
| Q1 25 | $-0.01 | $-0.19 | ||
| Q4 24 | $0.45 | $-0.34 | ||
| Q3 24 | $0.36 | $-0.13 | ||
| Q2 24 | $0.17 | $-0.24 | ||
| Q1 24 | $0.39 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | $1.1B | $642.4M |
| Stockholders' EquityBook value | $1.9B | $880.8M |
| Total Assets | $21.3B | $1.9B |
| Debt / EquityLower = less leverage | 0.58× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.5M | $27.3M | ||
| Q3 25 | $181.0M | $22.6M | ||
| Q2 25 | $108.6M | $29.1M | ||
| Q1 25 | $204.2M | $87.5M | ||
| Q4 24 | $103.2M | $46.3M | ||
| Q3 24 | $102.8M | $43.1M | ||
| Q2 24 | $336.3M | $43.8M | ||
| Q1 24 | $343.3M | $389.7M |
| Q4 25 | $1.1B | $642.4M | ||
| Q3 25 | $299.0M | $535.4M | ||
| Q2 25 | $1.2B | $513.1M | ||
| Q1 25 | $968.4M | $515.8M | ||
| Q4 24 | $1.0B | $418.0M | ||
| Q3 24 | $5.2B | $345.2M | ||
| Q2 24 | $5.4B | $297.4M | ||
| Q1 24 | $5.1B | $298.7M |
| Q4 25 | $1.9B | $880.8M | ||
| Q3 25 | $1.9B | $892.7M | ||
| Q2 25 | $1.9B | $902.0M | ||
| Q1 25 | $1.9B | $910.5M | ||
| Q4 24 | $1.9B | $918.6M | ||
| Q3 24 | $1.9B | $925.4M | ||
| Q2 24 | $1.9B | $933.1M | ||
| Q1 24 | $2.0B | $871.6M |
| Q4 25 | $21.3B | $1.9B | ||
| Q3 25 | $18.5B | $1.9B | ||
| Q2 25 | $16.8B | $1.8B | ||
| Q1 25 | $14.9B | $1.8B | ||
| Q4 24 | $14.4B | $1.7B | ||
| Q3 24 | $13.1B | $1.7B | ||
| Q2 24 | $12.1B | $1.7B | ||
| Q1 24 | $12.3B | $1.4B |
| Q4 25 | 0.58× | 0.73× | ||
| Q3 25 | 0.16× | 0.60× | ||
| Q2 25 | 0.65× | 0.57× | ||
| Q1 25 | 0.51× | 0.57× | ||
| Q4 24 | 0.52× | 0.46× | ||
| Q3 24 | 2.70× | 0.37× | ||
| Q2 24 | 2.76× | 0.32× | ||
| Q1 24 | 2.60× | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | -137.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.2B | $28.8M | ||
| Q3 25 | $-1.3B | $30.7M | ||
| Q2 25 | $-2.0B | $20.9M | ||
| Q1 25 | $-594.3M | $20.5M | ||
| Q4 24 | $-2.7B | $20.6M | ||
| Q3 24 | $-983.8M | $24.3M | ||
| Q2 24 | $243.8M | $2.5M | ||
| Q1 24 | $-342.4M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | — | $-65.3M | ||
| Q1 25 | — | $-62.7M | ||
| Q4 24 | — | $-72.0M | ||
| Q3 24 | — | $-51.3M | ||
| Q2 24 | — | $-78.3M | ||
| Q1 24 | — | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | — | -73.7% | ||
| Q1 25 | — | -71.3% | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | — | -58.5% | ||
| Q2 24 | — | -91.3% | ||
| Q1 24 | — | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | — | 97.3% | ||
| Q1 25 | — | 94.7% | ||
| Q4 24 | — | 108.4% | ||
| Q3 24 | — | 86.2% | ||
| Q2 24 | — | 94.2% | ||
| Q1 24 | — | 101.2% |
| 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× | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
