A Business at a Glance
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FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE
FNMA
$7.2B
Mkt Cap
$6.21
+1.31%
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a 5-year average return on invested capital (ROIC) of 0.4%. This is below average and may indicate limited pricing power.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a market capitalization of $36.6B. It is classified as a large-cap stock.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) does not currently pay a regular dividend.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) operates in the Federal & Federally-Sponsored Credit Agencies industry, within the Financials sector.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) reported annual revenue of $29.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a net profit margin of 49.6%. This is a strong margin indicating high profitability.
About Fannie Mae Fannie Mae is a leading source of financing for residential mortgages in the United States. We provided $409.3 billion in liquidity to the mortgage market in 2025, which enabled the financing of approximately 1.5 million home purchases, refinancings, and rental units. We are a government-sponsored, stockholder-owned corporation, chartered by Congress to provide liquidity and stability to the U.S. housing market and to promote access to mortgage credit. We primarily do this by buying residential mortgage loans that are originated by lenders. We place these loans into trusts and issue guaranteed mortgage-backed securities (“MBS” or “Fannie Mae MBS”) that global investors buy from us. We do not originate mortgage loans or lend money directly to borrowers. We provide a guaranty on the MBS that we issue. If a borrower fails to make a payment on a mortgage loan that is included in a Fannie Mae MBS, we pay the shortfall amount to the MBS investor.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 29.2B | 29.0B | 29.1B | 29.0B | 29.7B | 29.9B |
| Net Income | 68M | 14.4B | 17.0B | 17.4B | 12.9B | 22.2B |
| EPS | $0.00 | $12.40 | $14.66 | $15.03 | $11.16 | $19.15 |
| Free Cash Flow | 0 | 24.0B | -10.5B | 11.9B | 43.8B | 47.2B |
| ROIC | 0.0% | 0.3% | 0.4% | 0.4% | 0.3% | 0.5% |
| Gross Margin | - | 92.8% | 93.5% | 93.7% | 94.6% | 95.3% |
| Debt/Equity | 36.86 | 38.13 | 44.56 | 54.14 | 69.87 | 87.75 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 354M | 18.0B | 21.3B | 22.0B | 16.2B | 27.9B |
| Operating Margin | 1.2% | 62.1% | 73.2% | 75.6% | 54.6% | 93.3% |
| ROE | 0.1% | 14.1% | 19.7% | 25.2% | 24.0% | 61.1% |
| Shares Outstanding | 5,893M | 1,158M | 1,158M | 1,158M | 1,158M | 1,158M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 25.9B | 22.8B | 22.3B | 23.0B | 21.8B | 21.9B | 25.3B | 29.9B | 29.7B | 29.0B | 29.1B | 29.0B | 29.2B |
| Gross Margin | 94.0% | 94.1% | 94.0% | 94.3% | 94.0% | 93.1% | 93.5% | 95.3% | 94.6% | 93.7% | 93.5% | 92.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.8B | 3.0B | 2.7B | 2.7B | 3.1B | 3.0B | 3.1B | 3.1B | 3.2B | 3.4B | 3.6B | 3.6B | 3.3B |
| EBIT | 5.9B | 1.3B | 966M | 2.2B | 20.1B | 17.6B | 14.9B | 27.9B | 16.2B | 22.0B | 21.3B | 18.0B | 354M |
| Op. Margin | 22.8% | 5.9% | 4.3% | 9.7% | 92.1% | 80.4% | 58.7% | 93.3% | 54.6% | 75.6% | 73.2% | 62.1% | 1.2% |
| Net Income | 14.2B | 11.0B | 12.3B | -6.5B | 16.0B | 14.2B | 11.8B | 22.2B | 12.9B | 17.4B | 17.0B | 14.4B | 68M |
| Net Margin | 55.0% | 48.1% | 55.3% | -28.2% | 73.1% | 64.8% | 46.6% | 74.0% | 43.5% | 59.9% | 58.4% | 49.6% | 0.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 0.5% | 0.4% | 0.4% | -0.2% | 0.5% | 0.4% | 0.3% | 0.5% | 0.3% | 0.4% | 0.4% | 0.3% | 0.0% |
| ROE | 214.9% | 284.2% | 243.8% | N/A | 255.8% | 135.8% | 59.2% | 61.1% | 24.0% | 25.2% | 19.7% | 14.1% | 0.1% |
| ROA | 0.4% | 0.3% | 0.4% | -0.2% | 0.5% | 0.4% | 0.3% | 0.5% | 0.3% | 0.4% | 0.4% | 0.3% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -1.3B | -6.7B | -980M | 4.2B | 2.2B | -4.8B | 72.9B | 47.2B | 43.8B | 11.9B | -10.5B | 24.0B | 37.0B |
| Free Cash Flow | -1.3B | -6.7B | -980M | 4.2B | 2.2B | -4.8B | 72.9B | 47.2B | 43.8B | 11.9B | -10.5B | 24.0B | 0 |
| Owner Earnings | -5.6B | -13.0B | -7.8B | -2.4B | -3.7B | -10.8B | 63.7B | 36.4B | 38.1B | 9.3B | -12.1B | 22.6B | 35.6B |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 4.3B | 6.3B | 6.8B | 6.6B | 5.9B | 6.0B | 9.2B | 10.8B | 5.7B | 2.5B | 1.6B | 1.4B | 1.4B |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 4.3B | 6.3B | 6.8B | 6.6B | 5.9B | 6.0B | 9.2B | 10.8B | 5.7B | 2.5B | 1.6B | 1.4B | 1.4B |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 450.1B | 518.6B | 1.0T | 1.1T | 834.4B | 834.3B | 1.1T | 1.2T | 561.4B | 427.2B | 376.1B | 449.0B | 449.0B |
| Balance Sheet | |||||||||||||
| Net Debt | 3.2T | 3.2T | 3.2T | 3.3T | 3.4T | 3.4T | 3.9T | 4.0T | 4.1T | 4.1T | 4.1T | 4.0T | 4.0T |
| Cash & Equiv. | 22.0B | 14.7B | 25.2B | 32.1B | 25.6B | 21.2B | 38.3B | 42.4B | 58.0B | 35.8B | 38.9B | 42.6B | 120.8B |
| Long-Term Debt | 3.1T | 3.1T | 3.2T | 3.3T | 3.4T | 3.4T | 3.9T | 4.2T | 4.2T | 4.2T | 4.2T | 4.2T | 4.2T |
| Debt/Equity | 875.59 | 793.47 | 537.36 | -903.43 | 543.58 | 235.57 | 155.34 | 87.75 | 69.87 | 54.14 | 44.56 | 38.13 | 36.86 |
| Interest Coverage | 0.1 | 0.0 | 0.0 | 0.0 | 0.2 | 0.2 | 0.2 | 0.4 | 0.2 | 0.2 | 0.2 | 0.1 | 0.0 |
| Equity | 3.7B | 4.0B | 6.1B | -3.7B | 6.2B | 14.6B | 25.3B | 47.4B | 60.3B | 77.7B | 94.7B | 109.0B | 112.7B |
| Total Assets | 3.2T | 3.2T | 3.3T | 3.3T | 3.4T | 3.5T | 4.0T | 4.2T | 4.3T | 4.3T | 4.3T | 4.3T | 4.3T |
| Total Liabilities | 3.2T | 3.2T | 3.3T | 3.3T | 3.4T | 3.5T | 4.0T | 4.2T | 4.2T | 4.2T | 4.3T | 4.2T | 4.2T |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -127.6B | -126.9B | -124.3B | -133.8B | -127.3B | -118.8B | -108.1B | -85.9B | -73.0B | -55.6B | -38.6B | -24.3B | -20.5B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 12.27 | 9.46 | 10.63 | -5.60 | 13.78 | 12.23 | 10.19 | 19.15 | 11.16 | 15.03 | 14.66 | 12.40 | 0.00 |
| Owner EPS | -4.84 | -11.20 | -6.74 | -2.10 | -3.20 | -9.29 | 55.04 | 31.47 | 32.89 | 8.07 | -10.46 | 19.51 | 6.04 |
| Book Value | 3.18 | 3.48 | 5.24 | -3.18 | 5.39 | 12.61 | 21.81 | 40.89 | 52.05 | 67.08 | 81.74 | 94.13 | 19.12 |
| Cash Flow/Share | -1.16 | -5.76 | -0.85 | 3.64 | 1.94 | -4.11 | 62.98 | 40.77 | 37.84 | 10.26 | -9.08 | 20.71 | 0.25 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 5.9B |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 400.0 | N/A | 1.9 | 102.7 | N/A | 88.0 | N/A | N/A | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A | 0.7 | 0.6 | N/A | 0.0 | 0.0 | 0.0 | 0.1 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 0.7 | 0.5 | N/A | N/A | 0.2 | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | N/A | 0.3 |
| Price/Sales | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 | N/A | 1.3 |
| FCF Yield | -54.0% | -338.9% | -21.2% | 136.8% | 179.7% | -133.3% | 2774.4% | 4632.5% | 10228.0% | 1068.8% | -364.8% | N/A | N/A |
| Market Cap | 2.5B | 2.0B | 4.6B | 3.1B | 1.3B | 3.6B | 2.6B | 1.0B | 428M | 1.1B | 2.9B | 0 | 36.6B |
| Avg. Price | 3.43 | 2.39 | 1.99 | 2.91 | 1.54 | 2.80 | 2.26 | 1.54 | 0.64 | 0.54 | 1.56 | 0.00 | 6.21 |
| Year-End Price | 2.14 | 1.70 | 4.00 | 2.66 | 1.08 | 3.08 | 2.27 | 0.88 | 0.37 | 0.96 | 2.49 | 0.00 | 6.21 |
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 0.4% with a gross margin of 94.0%. At current prices, the estimated annualized return to fair value is +47.2%.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) generated $24.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a debt-to-equity ratio of 38.13. This indicates higher leverage, which may increase financial risk.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) reported earnings per share (EPS) of $12.40 in its most recent fiscal year.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a return on equity (ROE) of 14.1%. This indicates moderate shareholder returns.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a 5-year average gross margin of 94.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE (FNMA) has a book value per share of $94.13, based on its most recent annual SEC filing.
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