Filing Flows › Federal National Mortgage Association Fannie Mae (FNMA) › Operating margin
Federal National Mortgage Association Fannie Mae (FNMA) operating margin by quarter
Federal National Mortgage Association Fannie Mae's operating margin was 66.8% in Q3 2026 (third quarter 2026), +0.9 pts from Q2 2026. Over the last 7 quarters it ranged from 57.4% (Q2 2025) to 66.8% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 66.8% | +0.9 pts | +0.6 pts |
| Q2 2026 | 65.9% | +1.9 pts | +8.6 pts |
| Q1 2026 | 64.1% | +3.9 pts | -0.6 pts |
| Q4 2025 | 60.2% | -6.0 pts | — |
| Q3 2025 | 66.2% | +8.8 pts | — |
| Q2 2025 | 57.4% | -7.3 pts | — |
| Q1 2025 | 64.7% | — | — |
Q3 2026 at a glance
Federal National Mortgage Association Fannie Mae, Q3 2026: revenue $7.7B (+5% year over year), operating margin 66.8%, net earnings $4.2B, operating cash flow $876M. The chart follows the revenue to costs, profit and cash.
Questions
What is Federal National Mortgage Association Fannie Mae's operating margin?
Federal National Mortgage Association Fannie Mae's operating margin was 66.8% in Q3 2026 (third quarter 2026), +0.9 pts from Q2 2026.
How has Federal National Mortgage Association Fannie Mae's operating margin changed?
Over the last 7 quarters it ranged from 57.4% (Q2 2025) to 66.8% (Q3 2026).
Q3 2026 results → · How Federal National Mortgage Association Fannie Mae makes money →