Federal National Mortgage Association (FNMA)

FNMA Financials Overview

Financials in millions USD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	28,039	27,528	30,995	31,725	24,532	36,611
Revenue Growth	-1.27%	-11.19%	-2.30%	29.32%	-32.99%	58.95%
Operating Income Operating Income Growth	20,631	19,614	22,925	23,436	16,916	29,220
Net Income Net Income Growth	-2,595	9	3	3	3	78
Earnings Per Share EPS Growth	-0.45	0.00	0.00	0.00	0.00	0.01
EPS Growth	-	200.00%	0%	0%	-94.91%	292.93%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Single-Family Net Single-Family Net Growth	24,762	24,174	24,375	24,434	24,960	25,698
Multifamily Net Multifamily Net Growth	5,065	4,790	4,694	4,614	4,775	4,250

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	44,368	118,593	139,734	113,571	72,727	63,362
Total Debt Total Debt Growth	4,169,249	4,180,581	4,228,251	4,222,858	4,222,056	4,158,424
Net Cash (Debt) Net Cash Growth	-4,124,881	-4,061,988	-4,088,517	-4,109,287	-4,149,329	-4,095,062
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-703.06	-689.29	-693.79	-697.32	-704.11	-694.90

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	32,604	23,989	-10,520	11,883	43,826	47,211
Free Cash Flow Free Cash Flow Growth	32,604	23,989	-10,520	11,883	43,826	47,211
Free Cash Flow Growth	480.76%	-	-	-72.89%	-7.17%	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Margin	73.58%	71.25%	73.96%	73.87%	68.95%	79.81%
Pretax Margin	68.39%	65.33%	68.62%	69.21%	66.17%	76.34%
Profit Margin	-9.25%	0.03%	0.01%	0.01%	0.01%	0.21%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 29, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	107.26	6841.97	6274.47	2046.85	676.04	60.34
Forward PE	680.73	0.52	0.52	0.61	4.42	82.01
PS Ratio	0.89	2.24	0.61	0.19	0.08	0.13

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Oct 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Oct 29, 2026

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