• PennyMac Financial Services average return on tangible equity for 2023 was -6.74, a 86.66% increase from 2022.
• PennyMac Financial Services average return on tangible equity for 2022 was -50.52, a 98.55% decline from 2021.
• PennyMac Financial Services average return on tangible equity for 2021 was -3484.3, a 22107.14% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.