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Side-by-side financial comparison of PennyMac Mortgage Investment Trust (PMT) and TSS, Inc. (TSSI). 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 $60.9M, roughly 1.5× TSS, Inc.). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs 20.0%, a 36.0% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs -13.3%). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
PMT vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.6M | $60.9M |
| Net Profit | $52.4M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | 38.6% | 1.5% |
| Net Margin | 56.0% | 20.0% |
| Revenue YoY | -13.3% | 21.8% |
| Net Profit YoY | 12.5% | 535.7% |
| EPS (diluted) | $0.49 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $99.2M | $41.9M | ||
| Q2 25 | $70.2M | $44.0M | ||
| Q1 25 | $44.5M | $99.0M | ||
| Q4 24 | $107.9M | $50.0M | ||
| Q3 24 | $80.9M | $70.1M | ||
| Q2 24 | $71.2M | $12.2M | ||
| Q1 24 | $74.2M | $15.9M |
| Q4 25 | $52.4M | $12.2M | ||
| Q3 25 | $58.3M | $-1.5M | ||
| Q2 25 | $7.5M | $1.5M | ||
| Q1 25 | $9.7M | $3.0M | ||
| Q4 24 | $46.5M | $1.9M | ||
| Q3 24 | $41.4M | $2.6M | ||
| Q2 24 | $25.4M | $1.4M | ||
| Q1 24 | $47.6M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 38.6% | 1.5% | ||
| Q3 25 | 47.4% | -2.2% | ||
| Q2 25 | 24.2% | 5.1% | ||
| Q1 25 | -14.2% | 4.2% | ||
| Q4 24 | 51.1% | 0.0% | ||
| Q3 24 | 32.8% | 5.4% | ||
| Q2 24 | 40.2% | 14.0% | ||
| Q1 24 | 43.6% | 1.6% |
| Q4 25 | 56.0% | 20.0% | ||
| Q3 25 | 58.7% | -3.6% | ||
| Q2 25 | 10.7% | 3.4% | ||
| Q1 25 | 21.8% | 3.0% | ||
| Q4 24 | 43.1% | 3.8% | ||
| Q3 24 | 51.2% | 3.8% | ||
| Q2 24 | 35.7% | 11.5% | ||
| Q1 24 | 64.2% | 0.1% |
| Q4 25 | $0.49 | $0.44 | ||
| Q3 25 | $0.55 | $-0.06 | ||
| Q2 25 | $-0.04 | $0.06 | ||
| Q1 25 | $-0.01 | $0.12 | ||
| Q4 24 | $0.45 | $0.08 | ||
| Q3 24 | $0.36 | $0.10 | ||
| Q2 24 | $0.17 | $0.06 | ||
| Q1 24 | $0.39 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.9B | $76.6M |
| Total Assets | $21.3B | $184.9M |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.5M | $85.5M | ||
| Q3 25 | $181.0M | $70.7M | ||
| Q2 25 | $108.6M | — | ||
| Q1 25 | $204.2M | — | ||
| Q4 24 | $103.2M | $23.2M | ||
| Q3 24 | $102.8M | $46.4M | ||
| Q2 24 | $336.3M | $8.3M | ||
| Q1 24 | $343.3M | $14.4M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $299.0M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $968.4M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $5.4B | — | ||
| Q1 24 | $5.1B | — |
| Q4 25 | $1.9B | $76.6M | ||
| Q3 25 | $1.9B | $63.4M | ||
| Q2 25 | $1.9B | $9.5M | ||
| Q1 25 | $1.9B | $9.4M | ||
| Q4 24 | $1.9B | $7.1M | ||
| Q3 24 | $1.9B | $7.7M | ||
| Q2 24 | $1.9B | $5.2M | ||
| Q1 24 | $2.0B | $3.7M |
| Q4 25 | $21.3B | $184.9M | ||
| Q3 25 | $18.5B | $165.4M | ||
| Q2 25 | $16.8B | $139.5M | ||
| Q1 25 | $14.9B | $113.5M | ||
| Q4 24 | $14.4B | $96.6M | ||
| Q3 24 | $13.1B | $67.3M | ||
| Q2 24 | $12.1B | $28.9M | ||
| Q1 24 | $12.3B | $26.8M |
| 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 | $16.3M |
| Free Cash FlowOCF − Capex | — | $15.8M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | -137.76× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.2B | $16.3M | ||
| Q3 25 | $-1.3B | $-18.4M | ||
| Q2 25 | $-2.0B | $16.3M | ||
| Q1 25 | $-594.3M | $20.6M | ||
| Q4 24 | $-2.7B | $-21.6M | ||
| Q3 24 | $-983.8M | $38.6M | ||
| Q2 24 | $243.8M | $-4.3M | ||
| Q1 24 | $-342.4M | $2.6M |
| Q4 25 | — | $15.8M | ||
| Q3 25 | — | $-24.9M | ||
| Q2 25 | — | $5.4M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $-28.4M | ||
| Q3 24 | — | $38.6M | ||
| Q2 24 | — | $-6.0M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | -59.3% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 5.8% | ||
| Q4 24 | — | -56.7% | ||
| Q3 24 | — | 55.1% | ||
| Q2 24 | — | -49.4% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 24.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | -137.76× | 1.34× | ||
| Q3 25 | -22.26× | — | ||
| Q2 25 | -267.53× | 11.02× | ||
| Q1 25 | -61.39× | 6.93× | ||
| Q4 24 | -58.08× | -11.32× | ||
| Q3 24 | -23.76× | 14.60× | ||
| Q2 24 | 9.59× | -3.09× | ||
| Q1 24 | -7.19× | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
