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PennyMac Mortgage Investment Trust（PMT）与RMR GROUP INC.（RMR）财务数据对比。点击上方公司名可切换其他公司
PennyMac Mortgage Investment Trust的季度营收约是RMR GROUP INC.的1.4倍（$93.6M vs $66.7M），PennyMac Mortgage Investment Trust净利率更高（56.0% vs 18.3%，领先37.7%），RMR GROUP INC.同比增速更快（40.8% vs -13.3%）
PennyMac Mortgage Investment Trust是总部位于美国的房地产投资信托，专注于住宅抵押贷款相关资产，主要投资履约及违约抵押贷款、住宅抵押贷款支持证券和信用风险转移工具，业务覆盖美国住房市场的投资管理与抵押贷款服务板块。
RMR集团是总部位于美国的另类资产管理企业，核心业务聚焦不动产及相关投资，覆盖商业地产、住宅物业、基础设施等赛道，服务全球核心市场的机构投资者、高净值人士及零售客户。
PMT vs RMR — 直观对比
营收规模更大
PMT
是对方的1.4倍
$66.7M
营收增速更快
RMR
高出54.1%
-13.3%
净利率更高
PMT
高出37.7%
18.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $93.6M | $66.7M |
| 净利润 | $52.4M | $12.2M |
| 毛利率 | — | — |
| 营业利润率 | 38.6% | 48.1% |
| 净利率 | 56.0% | 18.3% |
| 营收同比 | -13.3% | 40.8% |
| 净利润同比 | 12.5% | 91.1% |
| 每股收益（稀释后） | $0.49 | $0.71 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PMTRMR
| Q4 25 | $93.6M | $66.7M | ||
| Q3 25 | $99.2M | — | ||
| Q2 25 | $70.2M | — | ||
| Q1 25 | $44.5M | — | ||
| Q4 24 | $107.9M | — | ||
| Q3 24 | $80.9M | — | ||
| Q2 24 | $71.2M | — | ||
| Q1 24 | $74.2M | — |
净利润PMTRMR
| Q4 25 | $52.4M | $12.2M | ||
| Q3 25 | $58.3M | — | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $9.7M | — | ||
| Q4 24 | $46.5M | — | ||
| Q3 24 | $41.4M | — | ||
| Q2 24 | $25.4M | — | ||
| Q1 24 | $47.6M | — |
营业利润率PMTRMR
| Q4 25 | 38.6% | 48.1% | ||
| Q3 25 | 47.4% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | -14.2% | — | ||
| Q4 24 | 51.1% | — | ||
| Q3 24 | 32.8% | — | ||
| Q2 24 | 40.2% | — | ||
| Q1 24 | 43.6% | — |
净利率PMTRMR
| Q4 25 | 56.0% | 18.3% | ||
| Q3 25 | 58.7% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 21.8% | — | ||
| Q4 24 | 43.1% | — | ||
| Q3 24 | 51.2% | — | ||
| Q2 24 | 35.7% | — | ||
| Q1 24 | 64.2% | — |
每股收益（稀释后）PMTRMR
| Q4 25 | $0.49 | $0.71 | ||
| Q3 25 | $0.55 | — | ||
| Q2 25 | $-0.04 | — | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $0.17 | — | ||
| Q1 24 | $0.39 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $190.5M | $49.3M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.9B | $232.7M |
| 总资产 | $21.3B | $687.1M |
| 负债/权益比越低杠杆越低 | 0.58× | — |
8季度趋势，按日历期对齐
现金及短期投资PMTRMR
| Q4 25 | $190.5M | $49.3M | ||
| Q3 25 | $181.0M | — | ||
| Q2 25 | $108.6M | — | ||
| Q1 25 | $204.2M | — | ||
| Q4 24 | $103.2M | — | ||
| Q3 24 | $102.8M | — | ||
| Q2 24 | $336.3M | — | ||
| Q1 24 | $343.3M | — |
总债务PMTRMR
| 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 | — |
股东权益PMTRMR
| Q4 25 | $1.9B | $232.7M | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $2.0B | — |
总资产PMTRMR
| Q4 25 | $21.3B | $687.1M | ||
| Q3 25 | $18.5B | — | ||
| Q2 25 | $16.8B | — | ||
| Q1 25 | $14.9B | — | ||
| Q4 24 | $14.4B | — | ||
| Q3 24 | $13.1B | — | ||
| Q2 24 | $12.1B | — | ||
| Q1 24 | $12.3B | — |
负债/权益比PMTRMR
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-7.2B | $10.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | -137.76× | 0.88× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PMTRMR
| Q4 25 | $-7.2B | $10.7M | ||
| Q3 25 | $-1.3B | — | ||
| Q2 25 | $-2.0B | — | ||
| Q1 25 | $-594.3M | — | ||
| Q4 24 | $-2.7B | — | ||
| Q3 24 | $-983.8M | — | ||
| Q2 24 | $243.8M | — | ||
| Q1 24 | $-342.4M | — |
现金转化率PMTRMR
| Q4 25 | -137.76× | 0.88× | ||
| 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× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
RMR
| Management Service Incentive | $23.6M | 35% |
| Industrial Logistics Properties Trust | $15.1M | 23% |
| Managed Private Real Estate Capital | $11.1M | 17% |
| Office Properties Income Trust | $5.6M | 8% |
| Other Private Entities | $5.3M | 8% |
| RMR Residential | $3.4M | 5% |
| Sonesta International Hotels Corporation | $2.1M | 3% |
| Investment Advisory Management And Administrative Service | $1.2M | 2% |
