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Federal Home Loan Mortgage (FMCC) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Federal Home Loan Mortgage (FMCC) Q3 2026 earnings results →

Q3 2026 Revenue up 19% year over year to $6.8B · 48¢ of every $1 of revenue kept as net profit · operating margin 59.0%

Federal Home Loan Mortgage made $6.8B in Q3 2026 (+19% Y/Y). Operating margin 59.0%, net earnings $3.2B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$6.8B
Year over year+19%
Operating margin59.0%
Net earnings$3.2B
Operating cash flow$4.2B

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Federal Home Loan Mortgage Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Federal Home Loan Mortgage Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $6.8B in Q3 2026, up 19% year over year and up 14% from the previous quarter.

Operating profit was $4.0B, a 59.0% margin (down 1.1 points year over year). Of the extra revenue versus Q3 2025, 53% reached operating profit, below the 60% margin then. Total costs grew 22% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+34%). Net earnings were $3.2B, up 17% year over year. The effective tax rate was 19.4%.

Operating cash flow was $4.2B (down 17% year over year), 130% of net earnings. Working capital and other items added $1.0B.

Quarterly history

Federal Home Loan Mortgage revenue by quarterFederal Home Loan Mortgage revenue by quarter$5.9BQ1 2025$5.9BQ2 2025$5.7BQ3 2025$5.8BQ4 2025$6.1BQ1 2026$6.0BQ2 2026$6.8BQ3 2026
Federal Home Loan Mortgage net earnings by quarterFederal Home Loan Mortgage net earnings by quarter$2.8BQ1 2025$2.4BQ2 2025$2.8BQ3 2025$2.8BQ4 2025$3.6BQ1 2026$3.8BQ2 2026$3.2BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$6.8B+19%59.0%$3.2B$4.2B
Q2 202610-QJul 30, 2026$6.0B+1%79.7%$3.8B$2.8B
Q1 202610-QApr 30, 2026$6.1B+5%72.2%$3.6B$3.9B
Q4 202510-KFeb 12, 2026$5.8B-9%59.9%$2.8B$2.6B
Q3 202510-QOct 30, 2025$5.7B-2%60.1%$2.8B$5.1B
Q2 202510-QJul 31, 2025$5.9B-1%50.3%$2.4B$8.1B
Q1 202510-QMay 1, 2025$5.9B+2%59.5%$2.8B$3.6B

Charts

Federal Home Loan Mortgage: revenue growth, year over year and quarter over quarterFederal Home Loan Mortgage: revenue growth, year over year and quarter over quarterY/YQ/Q+2%Q1 2025-1%+1%Q2 2025-2%-3%Q3 2025-9%+0%Q4 2025+5%+6%Q1 2026+1%-2%Q2 2026+19%+14%Q3 2026
Latest (Q3 2026): Y/Y +19%, Q/Q +14%.
Federal Home Loan Mortgage: where the cash came from (+) and went (−), TTM to Q3 2026Federal Home Loan Mortgage: where the cash came from (+) and went (−), TTM to Q3 2026Other financing−$65.4BOther investing$61.9BOperating cash flow$13.4BNet borrowing (+) / repaid (−)−$10.0BCash drawn (+) / kept (−)$63.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Federal Home Loan Mortgage: profit against cash, quarter by quarterFederal Home Loan Mortgage: profit against cash, quarter by quarterNet incomeOperating cash flow$3.2B−$900MQ4 2024$2.8B$3.6BQ1 2025$2.4B$8.1BQ2 2025$2.8B$5.1BQ3 2025$2.8B$2.6BQ4 2025$3.6B$3.9BQ1 2026$3.8B$2.8BQ2 2026$3.2B$4.2BQ3 2026
Latest (Q3 2026): Net income $3.2B, Operating cash flow $4.2B.
Federal Home Loan Mortgage: diluted shares by fiscal yearFederal Home Loan Mortgage: diluted shares by fiscal year3.23BFY20203.23BFY20213.23BFY20223.23BFY20233.23BFY20243.23BFY2025
+0.0% since FY2020: more shares outstanding (issuance, stock pay).
Federal Home Loan Mortgage in its industry: growth against margin (5 companies, SIC 6111)Federal Home Loan Mortgage in its industry: growth against margin (5 companies, SIC 6111)revenue growth, year over year →↑ operating marginmedian +19%median 67%FNMAFederal Home Loan Bank of New YorkFederal Home Loan Bank of PittsburghAGMFMCC (+19%, 59%)
Federal & Federally-Sponsored Credit Agencies; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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Customers and suppliers named in filings

Sells to

Federal Home Loan Mortgage against its Federal & Federally-Sponsored Credit Agencies peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +19% against the peers' median +19%. Operating margin: 59.0% against the peers' median 66.8%.

CompanyQuarterRevenueY/YOp. margin
FMCC Federal Home Loan MortgageQ3 2026$6.8B+19%59.0%
FNMA Federal National Mortgage Association Fannie MaeQ3 2026$7.7B+5%66.8%
Federal Home Loan Bank of New YorkQ3 2026$242M-0.8%72.4%
Federal Home Loan Bank of PittsburghQ3 2026$188M+26%79.7%
AGM Federal Agricultural MortgageQ3 2026$125M+20%63.5%

Source: Federal Home Loan Mortgage 10-Q on SEC EDGAR · CIK 1026214 · Federal & Federally-Sponsored Credit Agencies

13F: who owns FMCC and who is buying

Largest holders of FMCC (13F)Largest holders of FMCC (13F)RNC Capital Management LLC$534KRatan Capital Management LP$454KCrossingbridge Advisors, LLC$419KMcIntyre Freedman & Flynn Investm…$84KAncora Advisors LLC$18KMark Sheptoff Financial Planning,…$9KHantz Financial Services$5KHuntington National Bank$3K
Funds' net buying of FMCC by quarter (13F)Funds' net buying of FMCC by quarter (13F)−$12K2024-09$33K2024-12$678K2025-03$703K2025-06−$58K2025-09−$182K2025-12−$569K2026-03$863K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FMCC

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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