National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) Financials
Newest figures come from the 10-Q for Q1 FY2027, filed Oct 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NRUC SEC filings page.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) reported $548.6M in revenue over the twelve months to Aug 31, 2026. 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 highly leveraged balance sheet drives a business where cash generation requires little physical reinvestment.
FY2026 operating cash flow exceeded net income by118.5% , while free cash flow was$308.8M ; cash conversion was stronger than accounting profit alone suggests. From FY2024 to FY2026, total assets increased9.7% while revenue decreased39.1% , implying the balance sheet remained large even as sales volume contracted.
In FY2026, liabilities were
From FY2025 to FY2026, revenue rose
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes)'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes)'s revenue surged 45.5% year-over-year to $413.8M, reflecting rapid business expansion. This strong growth earns a score of 3/100.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) has elevated debt relative to equity (D/E of 8.61), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 6/100, reflecting increased financial risk.
Not available for National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes), so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) converts 74.6% of revenue into free cash flow ($308.8M). This strong cash generation earns a score of 99/100.
Not available for National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes), so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) generates $1.18 in operating cash flow ($310.5M OCF vs $262.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) generated $182.1M in revenue in Q1 2027. This represents an increase of 285.0% from the same quarter a year earlier. Against the prior quarter it is down 28.2%.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) reported $134.9M in net income in Q1 2027. This represents an increase of 2730.8% from the same quarter a year earlier. Against the prior quarter it is down 37.4%.
Not reported for Q1 2027.
Not reported for Q1 2027.
Cash & Balance Sheet
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) generated $131.0M in free cash flow in Q1 2027, representing cash available after capex. This represents an increase of 59.7% from the same quarter a year earlier. Against the prior quarter it is up 57.1%.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) held $202.5M in cash against $28.5B in long-term debt as of Q1 2027.
Not reported for Q1 2027.
Margins & Returns
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes)'s net profit margin was 74.1% in Q1 2027, showing the share of revenue converted to profit. This is up 64.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.8 percentage points.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes)'s quarterly ROE was 4.0% in Q1 2027: one quarter's net income over shareholder equity, not annualized. This is up 3.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.
Not reported for Q1 2027.
Not reported for Q1 2027.
Capital Allocation
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) invested $255K in capex in Q1 2027, funding long-term assets and infrastructure. This represents a decrease of 20.3% from the same quarter a year earlier. Against the prior quarter it is down 21.5%.
Not reported for Q1 2027.
Not reported for Q1 2027.
NRUC 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 | Q1'2710-Q | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $182.1M+285.0% | $253.6M | $53.8M-52.7% | $59.0M-67.6% | $47.3M | N/A | $113.7M+104.9% | $182.0M+0.8% |
| SG&A Expenses | $21.6M+4.0% | $18.9M+3.7% | $15.9M+5.1% | $18.2M-1.4% | $20.8M+8.8% | $18.2M+20.5% | $15.2M+14.2% | $18.5M+23.5% |
| Interest Expense | $378.5M+0.5% | $374.7M | $370.0M+2.2% | $373.7M+5.4% | $376.5M+5.6% | N/A | $361.9M+4.3% | $354.4M+9.4% |
| Income Tax | $682Kn/m | $186K+132.5% | $162K+145.5% | $6K-95.9% | -$20Kn/m | $80K-84.8% | $66K-88.4% | $146K+75.9% |
| Net Income | $134.9M+2730.8% | $215.4M+194.4% | $22.4M-74.0% | $19.6M-86.4% | $4.8Mn/m | $73.1M-49.8% | $86.0M+173.2% | $144.4M-2.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
NRUC 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 | Q1'2710-Q | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $39.6B+1.9% | $39.7B+3.6% | $39.9B+5.6% | $39.1B+5.4% | $38.8B+6.5% | $38.3B+5.9% | $37.8B+5.3% | $37.1B+4.5% |
| Cash & Equivalents | $202.5M-21.2% | $248.8M+84.7% | $240.7M-1.9% | $304.5M-12.3% | $257.1M-2.8% | $134.7M-51.9% | $245.4M+69.4% | $347.1M+169.5% |
| Total Liabilities | $36.2B+1.1% | $36.4B+3.3% | $36.8B+5.9% | $36.0B+5.5% | $35.8B+6.3% | $35.2B+6.2% | $34.7B+5.2% | $34.2B+4.8% |
| Long-Term Debt | $28.5B+1.9% | $28.3B+4.4% | $28.9B+5.0% | $27.3B+2.3% | $27.9B+6.3% | $27.2B+4.9% | $27.5B+8.2% | $26.7B+8.4% |
| Total Equity | $3.4B+10.9% | $3.3B+6.7% | $3.1B+2.2% | $3.1B+4.4% | $3.0B+9.1% | $3.1B+3.0% | $3.0B+5.7% | $2.9B+2.0% |
| Retained Earnings | $3.4B+10.9% | $3.3B+6.7% | $3.1B+2.2% | $3.1B+4.4% | $3.0B+9.1% | $3.1B+3.1% | $3.0B+5.8% | $2.9B+2.4% |
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.
NRUC 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 | Q1'2710-Q | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $131.2M+59.4% | $83.7Mn/m | $105.6M-29.7% | $38.9M-39.0% | $82.3M+124.2% | -$43.3M-181.0% | $150.3M+24.3% | $63.8M+112.3% |
| Depreciation & Amortization | $3.7M+10.4% | $3.9M+18.5% | $3.4M+5.3% | $3.3M+5.5% | $3.4M+13.4% | $3.3M+27.5% | $3.2M+24.2% | $3.2M+20.9% |
| Capital Expenditures | $255K-20.3% | $325K-68.9% | $485K-62.0% | $633K-42.9% | $320K-74.8% | $1.0M-46.6% | $1.3M-15.9% | $1.1M-30.6% |
| Free Cash Flow | $131.0M+59.7% | $83.4Mn/m | $105.1M-29.4% | $38.3M-38.9% | $82.0M+131.4% | -$44.3M-186.1% | $149.0M+24.8% | $62.7M+120.3% |
| Investing Cash Flow | $87.9Mn/m | $339.9Mn/m | -$909.7Mn/m | -$241.5Mn/m | -$463.5Mn/m | -$548.9Mn/m | -$824.5Mn/m | -$455.7Mn/m |
| Financing Cash Flow | -$265.3M-152.7% | -$415.5M-186.3% | $740.4M+29.3% | $249.9M-47.3% | $503.7M+14.3% | $481.5M+182.6% | $572.6M+92.0% | $474.4M-33.4% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
NRUC 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 | Q1'2710-Q | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 74.1%+64.0pp | 84.9% | 41.6%-34.0pp | 33.2%-46.2pp | 10.1% | N/A | 75.6%+18.9pp | 79.4%-2.9pp |
| Return on Equity | 4.0%+3.9pp | 6.5%+4.2pp | 0.7%-2.1pp | 0.6%-4.3pp | 0.2%+6.0pp | 2.4%-2.5pp | 2.9%+1.8pp | 4.9%-0.2pp |
| Return on Assets | 0.3%+0.3pp | 0.5%+0.4pp | 0.1%-0.2pp | 0.1%-0.3pp | 0.0%+0.5pp | 0.2%-0.2pp | 0.2%+0.1pp | 0.4%0.0pp |
| Debt-to-Equity | 8.46-0.7x | 8.61-0.2x | 9.40+0.3x | 8.95-0.2x | 9.21-0.2x | 8.81+0.2x | 9.15+0.2x | 9.14+0.5x |
| Liabilities-to-Equity | 10.76-1.0x | 11.06-0.4x | 11.96+0.4x | 11.80+0.1x | 11.80-0.3x | 11.43+0.3x | 11.54-0.1x | 11.68+0.3x |
| Asset Turnover | 0.000.0x | 0.01 | 0.000.0x | 0.000.0x | 0.00 | N/A | 0.000.0x | 0.000.0x |
| FCF Margin | 71.9% | 32.9% | 195.2% | 64.9%+30.4pp | 173.4% | N/A | 131.0% | 34.5%+18.7pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Where National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) Ranks
Frequently Asked Questions
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) reported $413.8M in total revenue for fiscal year 2026. This represents a 45.5% 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.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) revenue grew by 45.5% year-over-year, from $284.4M to $413.8M in fiscal year 2026.
Yes, National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) reported a net income of $392.3M over the trailing 12 months to August 31, 2026. In fiscal year 2026 it reported a net income of $262.1M, with a net profit margin of 63.3%.
As of fiscal year 2026, National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had $248.8M in cash and equivalents against $28.3B in long-term debt.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had a net profit margin of 63.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) has a return on equity of 8.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) generated $308.8M in free cash flow during fiscal year 2026. This represents a 52.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) generated $310.5M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had $39.7B in total assets as of fiscal year 2026, including both current and long-term assets.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) invested $1.8M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had a debt-to-equity ratio of 8.61 as of fiscal year 2026. 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.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had a liabilities-to-equity ratio of 11.06 as of fiscal year 2026, 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.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) had a return on assets of 0.7% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) has a Piotroski F-Score of 5 out of 6 computable signals; 3 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.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) has an earnings quality ratio of 1.18x, 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.
National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) (NRUC) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For National Rural Utilities Cooperative Finance Corporation 5.500% Subordinated Notes due 2064 (Subordinated Deferrable Interest Notes) it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.