What is Federal Home's earnings per share (EPS)?

Federal Home (FMCC) reported diluted earnings per share of -$0.02 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Federal Home Financials

FMCC

FY2025 annual

Revenue $23.3B -2.7% YoY

Net Income $10.7B -9.5% YoY

EPS (Diluted) -$0.02 YoY not available

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Federal Home (FMCC) reported $23.3B in revenue for fiscal year 2025, down 2.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FMCC FY2025 2026-08-15

Minimal equity cushion lets this business operate at enormous asset scale, producing thin asset returns while funding costs pressure earnings.

FY2025 operating cash flow of $19.4B exceeded net income of $10.7B, but the prior year showed the reverse, with cash flow at $6.6B against $11.9B of profit. That reversal makes cash conversion look driven by changing balance-sheet or timing effects rather than a consistently repeating relationship between reported earnings and cash generation. Interest expense also reached 4.7x revenue in FY2025, helping explain why broadly stable revenue coincided with lower earnings.

Liabilities represented 98.0% of assets in FY2025, leaving equity at only 2.0% of the asset base; the cushion improved from 1.8% in FY2024 but remains structurally thin. The reported 2.4x debt-to-equity ratio therefore captures only part of the balance-sheet financing burden.

The combination of a 46.1% net profit margin and just 0.3% return on assets shows that high reported profitability on revenue does not translate into high productivity across the enormous asset base. Net income also declined from $11.9B to $10.7B while interest expense rose to $108.4B, pointing to financing costs as a central earnings mechanic.

Financial Health Signals

Financial health score not available

Federal Home does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

Federal Home passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.81x

For every $1 of reported earnings, Federal Home generates $1.81 in operating cash flow ($19.4B OCF vs $10.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$23.3B

YoY-2.7%

5Y CAGR+6.9%

10Y CAGR-10.0%

Federal Home generated $23.3B in revenue in fiscal year 2025. This represents a decrease of 2.7% from the prior year.

Net Income

$10.7B

YoY-9.5%

5Y CAGR+7.9%

10Y CAGR+5.3%

Federal Home reported $10.7B in net income in fiscal year 2025. This represents a decrease of 9.5% from the prior year.

EPS (Diluted)

-$0.02

Federal Home earned -$0.02 per diluted share (EPS) in fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$5.3B

YoY-3.7%

5Y CAGR-25.9%

10Y CAGR-0.5%

Federal Home held $5.3B in cash against $169.3B in long-term debt as of fiscal year 2025.

Shares Outstanding

650M

YoY0.0%

Federal Home had 650M shares outstanding in fiscal year 2025. That is unchanged from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

46.1%

YoY-3.5pp

5Y CAGR+2.1pp

10Y CAGR+36.6pp

Federal Home's net profit margin was 46.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.5 percentage points from the prior year.

Return on Equity

15.3%

YoY-4.7pp

5Y CAGR-29.4pp

Federal Home's ROE was 15.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.7 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

FMCC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FMCC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	$23.3B-2.7%	$23.9B+12.6%	$21.2B-0.2%	$21.3B-3.1%	$22.0B+31.8%	$16.7B+18.3%	$14.1B-9.6%	$15.6B-26.1%	$21.1B-67.7%	$65.2B-2.9%	$67.1B-3.4%	$69.5B-4.4%	$72.7B-14.2%	$84.7B-14.5%	$99.1B
SG&A Expenses	N/A	$2.9B+1.5%	$2.8B+1.7%	$2.8B+85.2%	$1.5B-43.1%	$2.7B+4.6%	$2.5B-1.1%	$2.6B+11.8%	$2.3B+8.9%	$2.1B+5.0%	$2.0B+4.0%	$1.9B+2.4%	$1.9B+4.2%	$1.8B+15.6%	$1.6B+3.7%	$1.5B
Interest Expense	N/A	$108.4B+10.5%	$98.1B+13.0%	$86.8B+32.6%	$65.5B+48.9%	$43.9B-11.3%	$49.6B-18.8%	$61.0B+5.2%	$58.0B+8.2%	$53.6B+5.6%	$50.8B-2.6%	$52.1B-5.0%	$54.9B-1.5%	$55.8B-16.1%	$66.5B-16.9%	$80.0B
Income Tax	N/A	$2.6B-9.9%	$2.9B+9.7%	$2.7B+16.9%	$2.3B-26.3%	$3.1B+62.4%	$1.9B+3.7%	$1.8B-18.0%	$2.2B-80.0%	$11.2B+193.1%	$3.8B+32.0%	$2.9B-12.5%	$3.3B+114.2%	-$23.3B-1416.3%	-$1.5B-284.3%	-$400.0M
Net Income	N/A	$10.7B-9.5%	$11.9B+12.5%	$10.5B+13.0%	$9.3B-23.0%	$12.1B+65.3%	$7.3B+1.6%	$7.2B-21.9%	$9.2B+64.2%	$5.6B-28.0%	$7.8B+22.6%	$6.4B-17.1%	$7.7B-84.2%	$48.7B+343.2%	$11.0B+308.5%	-$5.3B
EPS (Diluted)	$0.01	-$0.02	$0.00+100.0%	-$0.05-145.5%	$0.11-26.7%	$0.15	$0.01+105.6%	-$0.18	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$3.63

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$6.0B-2.3%	$6.1B	N/A	$5.7B-3.0%	$5.9B	N/A	$6.3B+8.4%	$5.8B
SG&A Expenses	$676.0M+8.0%	$626.0M	N/A	$716.0M-4.3%	$748.0M	N/A	$749.0M+5.0%	$713.0M
Interest Expense	$28.3B+0.8%	$28.0B	N/A	$27.5B+2.9%	$26.7B	N/A	$25.6B+3.1%	$24.8B
Income Tax	$936.0M+7.2%	$873.0M	N/A	$675.0M+14.8%	$588.0M	N/A	$796.0M+7.4%	$741.0M
Net Income	$3.8B+7.9%	$3.6B	N/A	$2.8B+16.2%	$2.4B	N/A	$3.2B+3.8%	$3.1B
EPS (Diluted)	$0.00-100.0%	$0.01	$0.00	$0.00+100.0%	-$0.01	N/A	$0.01+150.0%	-$0.02

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

FMCC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FMCC quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$3.5T+3.3%	$3.4T+3.2%	$3.3T+2.3%	$3.2T+6.0%	$3.0T+15.2%	$2.6T+19.8%	$2.2T+6.3%	$2.1T+0.6%	$2.0T+1.3%	$2.0T+1.9%	$2.0T+2.1%	$1.9T-1.0%	$2.0T-1.2%	$2.0T-7.3%	$2.1T
Cash & Equivalents	$5.3B-3.7%	$5.5B-8.1%	$6.0B-5.4%	$6.4B-37.3%	$10.2B-57.5%	$23.9B+360.4%	$5.2B-28.7%	$7.3B-25.9%	$9.8B-20.7%	$12.4B+121.1%	$5.6B-48.8%	$10.9B-3.1%	$11.3B+32.5%	$8.5B-70.1%	$28.4B
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$10.8B+340.5%	$2.4B-64.7%	$6.9B+36.2%	$5.1B+40.2%	$3.6B-7.0%	$3.9B-10.7%	$4.4B-56.7%	$10.1B+20.9%	$8.3B
Total Liabilities	$3.4T+3.0%	$3.3T+2.9%	$3.2T+2.0%	$3.2T+5.8%	$3.0T+14.8%	$2.6T+19.5%	$2.2T+6.1%	$2.1T+0.4%	$2.1T+1.6%	$2.0T+1.8%	$2.0T+2.1%	$1.9T-0.5%	$2.0T-1.4%	$2.0T-7.7%	$2.1T
Long-Term Debt	$169.3B+1.2%	$167.3B-94.8%	$3.2T+2.0%	$3.1T+5.3%	$3.0T+15.2%	$2.6T+25.1%	$2.1T+3.8%	$2.0T+1.6%	$2.0T	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$70.4B+18.1%	$59.6B+24.8%	$47.7B+28.9%	$37.0B+32.1%	$28.0B+70.8%	$16.4B+79.9%	$9.1B+103.8%	$4.5B+1534.9%	-$312.0M-106.1%	$5.1B+72.6%	$2.9B+10.9%	$2.7B-79.3%	$12.8B+45.4%	$8.8B+6145.9%	-$146.0M
Retained Earnings	-$12.5B+46.1%	-$23.3B+33.8%	-$35.1B+23.1%	-$45.7B+17.0%	-$55.0B+18.0%	-$67.1B+9.6%	-$74.2B+5.2%	-$78.3B+6.0%	-$83.3B-6.8%	-$77.9B+3.5%	-$80.8B+1.1%	-$81.6B-17.1%	-$69.7B+1.5%	-$70.8B+5.0%	-$74.5B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$3.5T+0.4%	$3.5T+0.2%	$3.5T+0.8%	$3.5T+0.9%	$3.4T+0.8%	$3.4T+0.7%	$3.4T+1.3%	$3.3T
Cash & Equivalents	$4.3B-3.3%	$4.5B-16.1%	$5.3B+15.2%	$4.6B+8.4%	$4.3B	N/A	$5.5B+13.9%	$4.9B
Total Liabilities	$3.4T+0.3%	$3.4T+0.1%	$3.4T+0.8%	$3.4T+0.9%	$3.4T+0.7%	$3.3T+0.6%	$3.3T+1.2%	$3.3T
Long-Term Debt	$163.7B-3.6%	$169.8B+0.3%	$169.3B	N/A	N/A	N/A	$167.3B-94.9%	$3.3T
Total Equity	$77.8B+5.2%	$73.9B+5.0%	$70.4B+4.1%	$67.6B+4.3%	$64.8B+3.9%	$62.4B+4.7%	$59.6B+5.6%	$56.4B
Retained Earnings	-$5.1B+42.7%	-$9.0B+28.4%	-$12.5B+18.1%	-$15.3B+15.3%	-$18.1B+11.7%	-$20.5B+12.0%	-$23.3B+12.2%	-$26.5B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

FMCC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FMCC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	N/A	$19.4B+192.3%	$6.6B-13.0%	$7.6B-36.1%	$11.9B-27.1%	$16.4B+1703.0%	$907.0M-92.6%	$12.2B+1709.6%	$674.0M-84.0%	$4.2B-3.9%	$4.4B+570.6%	-$934.0M-110.5%	$8.9B-52.1%	$18.5B+118.9%	$8.5B-18.0%	$10.3B
Investing Cash Flow	N/A	$4.7B-50.7%	$9.6B-78.3%	$44.3B+288.3%	$11.4B-53.0%	$24.3B+129.1%	-$83.4B-273.1%	$48.2B-59.8%	$119.6B-17.2%	$144.6B-12.1%	$164.5B-8.0%	$178.9B	N/A	$391.3B-20.9%	$494.4B+32.3%	$373.7B
Financing Cash Flow	N/A	-$24.3B-45.3%	-$16.7B+67.9%	-$52.2B-92.6%	-$27.1B+50.1%	-$54.3B-153.7%	$101.1B+262.0%	-$62.4B+49.2%	-$122.9B+23.8%	-$161.2B+3.4%	-$166.8B+9.0%	-$183.3B	N/A	-$407.0B+22.1%	-$522.8B-33.2%	-$392.6B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	N/A	$3.9B+50.0%	$2.6B-49.3%	$5.1B	N/A	N/A	-$900.0M-124.3%	$3.7B
Investing Cash Flow	N/A	$21.4B+355.1%	$4.7B+634.7%	-$881.0M	N/A	N/A	-$13.6B-1651.8%	$875.0M
Financing Cash Flow	N/A	-$26.2B-297.3%	-$6.6B-71.4%	-$3.8B	N/A	N/A	$15.2B+388.3%	-$5.3B

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

FMCC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

FMCC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Net Margin	46.1%-3.5pp	49.6%-0.1pp	49.6%+5.8pp	43.9%-11.3pp	55.2%+11.2pp	44.0%-7.3pp	51.2%-8.1pp	59.3%+32.6pp	26.7%+14.7pp	12.0%+2.5pp	9.5%-1.6pp	11.1%-55.9pp	66.9%+54.0pp	13.0%+18.3pp	-5.3%
Return on Equity	15.3%-4.7pp	19.9%-2.2pp	22.1%-3.1pp	25.2%-18.0pp	43.2%-1.4pp	44.6%-34.4pp	79.1%-127.2pp	206.3%	N/A	154.0%-62.9pp	216.9%-73.2pp	290.1%-89.1pp	379.2%+254.8pp	124.4%	N/A
Return on Assets	0.3%0.0pp	0.4%0.0pp	0.3%0.0pp	0.3%-0.1pp	0.4%+0.1pp	0.3%-0.1pp	0.3%-0.1pp	0.4%+0.2pp	0.3%-0.1pp	0.4%+0.1pp	0.3%-0.1pp	0.4%-2.1pp	2.5%+1.9pp	0.5%+0.8pp	-0.3%
Debt-to-Equity	2.41-0.4x	2.81-64.3x	67.10-17.7x	84.77-21.5x	106.31-51.3x	157.66-69.1x	226.78-218.6x	445.36	N/A	397.69-276.8x	674.47-58.4x	732.89+580.7x	152.18-72.2x	224.43	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	64.1%+6.0pp	58.0%	N/A	48.3%+8.0pp	40.4%	N/A	50.9%-2.3pp	53.2%
Return on Equity	4.9%+0.1pp	4.8%	N/A	4.1%+0.4pp	3.7%	N/A	5.4%-0.1pp	5.5%
Return on Assets	0.1%0.0pp	0.1%	N/A	0.1%0.0pp	0.1%	N/A	0.1%0.0pp	0.1%
Debt-to-Equity	2.11-0.2x	2.30-0.1x	2.41-47.9x	50.30-1.7x	52.02-1.6x	53.63+50.8x	2.81-54.9x	57.66

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

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Where Federal Home Ranks

Frequently Asked Questions

What is Federal Home's annual revenue?

Federal Home (FMCC) reported $23.3B in total revenue for fiscal year 2025. This represents a -2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Federal Home's revenue growing?

Federal Home (FMCC) revenue declined by 2.7% year-over-year, from $23.9B to $23.3B in fiscal year 2025.

Is Federal Home profitable?

Yes, Federal Home (FMCC) reported a net income of $10.7B in fiscal year 2025, with a net profit margin of 46.1%.

How much debt does Federal Home have?

As of fiscal year 2025, Federal Home (FMCC) had $5.3B in cash and equivalents against $169.3B in long-term debt.

What is Federal Home's net profit margin?

Federal Home (FMCC) had a net profit margin of 46.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Federal Home's return on equity (ROE)?

Federal Home (FMCC) has a return on equity of 15.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Federal Home's operating cash flow?

Federal Home (FMCC) generated $19.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Federal Home's total assets?

Federal Home (FMCC) had $3.5T in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Federal Home have outstanding?

Federal Home (FMCC) had 650M shares outstanding as of fiscal year 2025.

What is Federal Home's debt-to-equity ratio?

Federal Home (FMCC) had a debt-to-equity ratio of 2.41 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Federal Home's return on assets (ROA)?

Federal Home (FMCC) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Federal Home's Piotroski F-Score?

Federal Home (FMCC) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Federal Home's earnings high quality?

Federal Home (FMCC) has an earnings quality ratio of 1.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.