FED NAT Mtge Assn E PFD (FNMFM) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Oct 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FNMFM SEC filings page.
FED NAT Mtge Assn E PFD (FNMFM) reported $30.3B in revenue over the twelve months to Sep 30, 2026, up 0.5% from the prior twelve months. 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).
The numbers describe a highly leveraged financial balance sheet where equity is growing, but earnings and cash flow do not move together.
The clearest earnings-quality signal is the reversal from operating cash flow of-$10.5B in FY2024 to$24.0B in FY2025 while net income fell; reported profit therefore did not map consistently to cash generation across years.
At FY2025, liabilities represented
Funding pressure is moving differently from debt volume: interest expense rose
Financial Health Signals
We do not publish a peer-relative financial health score for FED NAT Mtge Assn E PFD, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
FED NAT Mtge Assn E PFD 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, the one computable operating efficiency signal (asset turnover improving) does not pass.
Key Financial Metrics
Earnings & Revenue
FED NAT Mtge Assn E PFD generated $8.4B in revenue in Q3 2026. This represents an increase of 12.6% from the same quarter a year earlier. Against the prior quarter it is up 10.7%.
FED NAT Mtge Assn E PFD reported $4.2B in net income in Q3 2026. This represents an increase of 8.2% from the same quarter a year earlier. Against the prior quarter it is up 4.9%.
FED NAT Mtge Assn E PFD earned $0.18 per diluted share (EPS) in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Not reported for Q3 2026.
Cash & Balance Sheet
FED NAT Mtge Assn E PFD held $36.3B in cash against $4.1T in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
FED NAT Mtge Assn E PFD's net profit margin was 49.9% in Q3 2026, showing the share of revenue converted to profit. This is down 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
FED NAT Mtge Assn E PFD's quarterly ROE was 3.5% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
None of these metrics is reported for Q3 2026.
FNMFM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.4B+12.6% | $7.6B+1.8% | $7.3B+1.0% | $7.1B-12.3% | $7.4B+0.5% | $7.4B-3.7% | $7.2B-5.1% | $8.1B+8.1% |
| SG&A Expenses | $784.0M-4.3% | $811.0M-4.3% | $745.0M-24.9% | $921.0M-2.7% | $819.0M-7.4% | $847.0M-5.8% | $992.0M+11.6% | $947.0M+16.1% |
| Interest Expense | $34.1B+3.9% | $33.3B+3.3% | $33.0B+3.2% | $32.9B+5.3% | $32.8B+6.7% | $32.3B+7.5% | $32.0B+7.5% | $31.3B+9.2% |
| Income Tax | $935.0M-4.2% | $1.0B+20.3% | $944.0M+2.3% | $883.0M-15.8% | $976.0M-3.3% | $837.0M-25.3% | $923.0M-17.1% | $1.0B+3.6% |
| Net Income | $4.2B+8.2% | $4.0B+20.0% | $3.7B+1.6% | $3.5B-14.6% | $3.9B-4.6% | $3.3B-26.0% | $3.7B-15.3% | $4.1B+4.7% |
| EPS (Basic) | $0.18n/m | $0.03n/m | $0.01n/m | $0.00n/m | $0.00n/m | $0.00n/m | $0.00n/m | $0.00n/m |
| EPS (Diluted) | $0.18n/m | $0.03n/m | $0.01n/m | $0.00n/m | $0.00n/m | $0.00n/m | $0.00n/m | $0.00n/m |
| Diluted Shares (Avg) | 5.89B0.0% | 5.89B+0.4% | 5.89B0.0% | N/A | 5.89B+0.4% | 5.87B-0.4% | 5.89B+0.4% | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
FNMFM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3T-0.4% | $4.3T-0.1% | $4.3T-0.9% | $4.3T-0.7% | $4.3T0.0% | $4.3T+0.3% | $4.4T+0.7% | $4.3T+0.6% |
| Cash & Equivalents | $36.3B-7.7% | $40.8B+6.8% | $45.3B+15.0% | $42.6B+9.6% | $39.4B+3.2% | $38.2B-8.8% | $39.4B+214.2% | $38.9B+8.5% |
| Total Liabilities | $4.2T-0.8% | $4.2T-0.5% | $4.2T-1.3% | $4.2T-1.1% | $4.2T-0.3% | $4.2T0.0% | $4.3T+0.3% | $4.3T+0.2% |
| Long-Term Debt | $4.1T-1.1% | $4.2T-0.9% | $4.2T-1.6% | $4.2T-1.4% | $4.2T-0.5% | $4.2T0.0% | $4.2T+0.4% | $4.2T+0.3% |
| Total Equity | $119.6B+13.4% | $116.5B+14.6% | $112.7B+14.6% | $109.0B+15.2% | $105.5B+16.5% | $101.6B+17.5% | $98.3B+19.9% | $94.7B+21.9% |
| Retained Earnings | -$12.4Bn/m | -$16.6Bn/m | -$20.5Bn/m | -$24.3Bn/m | -$27.8Bn/m | -$31.6Bn/m | -$35.0Bn/m | -$38.6Bn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
FNMFM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $876.0M-90.9% | $9.3B+88.5% | $16.5B+370.3% | $6.0Bn/m | $9.6Bn/m | $4.9B+230.1% | $3.5B-50.9% | -$12.4B-708.6% |
| Investing Cash Flow | $45.6B+9.3% | $9.5B-82.7% | $32.9B+33.0% | $65.7B+61.3% | $41.8B+2.0% | $54.7B-34.0% | $24.7Bn/m | $40.8B+70.5% |
| Financing Cash Flow | -$51.0Bn/m | -$23.2Bn/m | -$46.7Bn/m | -$68.5Bn/m | -$50.4Bn/m | -$59.3Bn/m | -$28.7Bn/m | -$27.8Bn/m |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
FNMFM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 49.9%-2.0pp | 52.6%+8.0pp | 51.1%+0.3pp | 49.8%-1.4pp | 51.9%-2.7pp | 44.6%-13.5pp | 50.8%-6.1pp | 51.2%-1.6pp |
| Return on Equity | 3.5%-0.2pp | 3.4%+0.2pp | 3.3%-0.4pp | 3.2%-1.1pp | 3.7%-0.8pp | 3.3%-1.9pp | 3.7%-1.6pp | 4.4%-0.7pp |
| Return on Assets | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp | 0.1%0.0pp |
| Debt-to-Equity | 34.59-5.1x | 35.71-5.6x | 36.85-6.0x | 38.12-6.4x | 39.66-6.8x | 41.32-7.3x | 42.90-8.3x | 44.55-9.6x |
| Liabilities-to-Equity | 35.09-5.0x | 36.19-5.5x | 37.30-6.0x | 38.61-6.3x | 40.10-6.8x | 41.68-7.3x | 43.28-8.4x | 44.95-9.7x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| FED NAT Mtge Assn E PFD FNMFM | FY2025 | $29.2B | $14.4B | 49.3% | N/A | — |
| Freddie MAC FMCC | FY2025 | $23.3B | N/A | N/A | $2.5B | — |
Where FED NAT Mtge Assn E PFD Ranks
Frequently Asked Questions
FED NAT Mtge Assn E PFD (FNMFM) reported $29.2B in total revenue for fiscal year 2025. This represents a -5.3% 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.
FED NAT Mtge Assn E PFD (FNMFM) revenue declined by 5.3% year-over-year, from $30.8B to $29.2B in fiscal year 2025.
Yes, FED NAT Mtge Assn E PFD (FNMFM) reported a net income of $15.4B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $14.4B, with a net profit margin of 49.3%.
As of fiscal year 2025, FED NAT Mtge Assn E PFD (FNMFM) had $42.6B in cash and equivalents against $4.2T in long-term debt.
FED NAT Mtge Assn E PFD (FNMFM) had a net profit margin of 49.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
FED NAT Mtge Assn E PFD (FNMFM) has a return on equity of 13.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
FED NAT Mtge Assn E PFD (FNMFM) generated $24.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
FED NAT Mtge Assn E PFD (FNMFM) had $4.3T in total assets as of fiscal year 2025, including both current and long-term assets.
FED NAT Mtge Assn E PFD (FNMFM) had a debt-to-equity ratio of 38.12 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
FED NAT Mtge Assn E PFD (FNMFM) had a liabilities-to-equity ratio of 38.61 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
FED NAT Mtge Assn E PFD (FNMFM) had a return on assets of 0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
FED NAT Mtge Assn E PFD (FNMFM) 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.