Filing Flows › Federal National Mortgage Association Fannie Mae (FNMA) › Q1 2025
Federal National Mortgage Association Fannie Mae (FNMA) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Federal National Mortgage Association Fannie Mae (FNMA) reported revenue of $7.1B for the first quarter 2025 (Q1 2025), -0.1% from a year earlier and -3% from the quarter before. Operating margin was 64.7%, net earnings $3.7B (51.7% of revenue).
Federal National Mortgage Association Fannie Mae, Q1 2025: revenue $7.1B (-0.1% year over year), operating margin 64.7%, net earnings $3.7B, operating cash flow $3.5B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.1B | -3% | -0.1% |
| Operating profit | $4.6B | -11% | -16% |
| Net earnings | $3.7B | -11% | -15% |
| Operating cash flow | $3.5B | — | -51% |
What changed
Revenue was $7.1B in Q1 2025, roughly flat year over year and down 3% from the previous quarter.
Operating profit was $4.6B, a 64.7% margin (down 11.9 points year over year). Total costs grew 50% against flat revenue. The fastest-growing cost line was Other operating costs (+95%). Net earnings were $3.7B, down 15% year over year. The effective tax rate was 20.1%.
Operating cash flow was $3.5B (down 51% year over year), 96% of net earnings.
Questions
What was Federal National Mortgage Association Fannie Mae's revenue in the first quarter 2025?
Federal National Mortgage Association Fannie Mae (FNMA) reported revenue of $7.1B for the first quarter 2025 (Q1 2025), -0.1% from a year earlier and -3% from the quarter before.
Was Federal National Mortgage Association Fannie Mae profitable in the first quarter 2025?
Operating profit was $4.6B (64.7% of revenue) and net earnings $3.7B.
Source: Federal National Mortgage Association Fannie Mae 10-Q on SEC EDGAR.