Filing Flows › Federal Home Loan Mortgage (FMCC) › Q3 2025
Federal Home Loan Mortgage (FMCC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
Federal Home Loan Mortgage (FMCC) reported revenue of $5.7B for the third quarter 2025 (Q3 2025), -2% from a year earlier and -3% from the quarter before. Operating margin was 60.1%, net earnings $2.8B (48.3% of revenue).
Federal Home Loan Mortgage, Q3 2025: revenue $5.7B (-2% year over year), operating margin 60.1%, net earnings $2.8B, operating cash flow $5.1B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.7B | -3% | -2% |
| Operating profit | $3.4B | +16% | -10% |
| Net earnings | $2.8B | +16% | -11% |
| Operating cash flow | $5.1B | -38% | +37% |
What changed
Revenue was $5.7B in Q3 2025, down 2% year over year and down 3% from the previous quarter.
Operating profit was $3.4B, a 60.1% margin (down 5.8 points year over year). Total costs grew 15% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $2.8B, down 11% year over year. The effective tax rate was 19.6%.
Operating cash flow was $5.1B (up 37% year over year), 183% of net earnings. Working capital and other items added $2.3B.
Questions
What was Federal Home Loan Mortgage's revenue in the third quarter 2025?
Federal Home Loan Mortgage (FMCC) reported revenue of $5.7B for the third quarter 2025 (Q3 2025), -2% from a year earlier and -3% from the quarter before.
Was Federal Home Loan Mortgage profitable in the third quarter 2025?
Operating profit was $3.4B (60.1% of revenue) and net earnings $2.8B.