Filing Flows › Federal Home Loan Mortgage (FMCC) › Q4 2025
Federal Home Loan Mortgage (FMCC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Federal Home Loan Mortgage (FMCC) reported revenue of $5.8B for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and +0.4% from the quarter before. Operating margin was 59.9%, net earnings $2.8B (48.2% of revenue).
Federal Home Loan Mortgage, Q4 2025: revenue $5.8B (-9% year over year), operating margin 59.9%, net earnings $2.8B, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.8B | +0.4% | -9% |
| Operating profit | $3.5B | +0.2% | -14% |
| Net earnings | $2.8B | +0.1% | -14% |
| Operating cash flow | $2.6B | -49% | — |
What changed
Revenue was $5.8B in Q4 2025, down 9% year over year and roughly flat from the previous quarter.
Operating profit was $3.5B, a 59.9% margin (down 3.6 points year over year). Total costs fell 0% while revenue fell 9%. Net earnings were $2.8B, down 14% year over year. The effective tax rate was 19.6%.
Operating cash flow was $2.6B, 93% of net earnings. Working capital and other items used $0.20B.
Questions
What was Federal Home Loan Mortgage's revenue in the fourth quarter 2025?
Federal Home Loan Mortgage (FMCC) reported revenue of $5.8B for the fourth quarter 2025 (Q4 2025), -9% from a year earlier and +0.4% from the quarter before.
Was Federal Home Loan Mortgage profitable in the fourth quarter 2025?
Operating profit was $3.5B (59.9% of revenue) and net earnings $2.8B.