What does debt-to-equity mean?

How much debt the company carries for every dollar of shareholder equity.

How do you interpret debt-to-equity?

Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.

How does debt-to-equity compare across companies?

Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.

PennyMac Mortgage Investment Trust PMT Debt-to-equity

Discontinued — last reported Q4 '19

Debt-to-equity at other companies

Truist FinancialTFC

1.1×—

Annaly Capital ManagementNLY

0×0.0×

MFA FinancialMFA

0×0.0×

Chimera Investment Corp.CIM

0.1×+0.1×

EFC

Ellington Financial Inc.EFC

0.3×+0.2×

AGNC Investment Corp.AGNC

0×0.0×

Other financials

Income statement

See full

Revenue$82.1M+84.7%

Net income$24.6M+154%

EPS (diluted)$0.16+1,700%

Balance sheet

See full

Cash & equivalents$214.0M-13.7%

Total equity$1.9B-1.9%

Total assets$22.5B+51.3%

Cash flow

See full

Operating cash flow-$2.5B-326%

Valuation

See full

Market cap$877.26M-20.3%

P/E6.1×-2.8×

P/S2.5×-1.1×

Profitability

See full

Net margin41.4%+1.0pp

Returns & leverage

See full

Return on equity7.6%+1.2pp

Where this comes from

Calculated from PennyMac Mortgage Investment Trust’s reported figures.

total debt/total stockholders equity=2.9×

Based on the most recent quarter.

The official record: PennyMac Mortgage Investment Trust’s 10-K, filed February 26, 2021, on SEC EDGAR. View the filing →

Questions, answered.

What does debt-to-equity mean?: How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?: Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?: Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.