Filing Flows › Federal National Mortgage Association Fannie Mae (FNMA) › Q2 2026 › vs Q2 2025
Federal National Mortgage Association Fannie Mae (FNMA) Q2 2026 vs Q2 2025 (year over year)
Federal National Mortgage Association Fannie Mae's revenue rose $324M (+4%) from $7.2B in Q2 2025 to $7.6B in Q2 2026. Operating margin 65.9% against 57.4% (+8.6 pts).
Federal National Mortgage Association Fannie Mae, Q2 2026: revenue $7.6B (+4% year over year), operating margin 65.9%, net earnings $4.0B, operating cash flow $9.3B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 65.9% | 57.4% | +8.6 pts |
| Net margin | 52.6% | 45.8% | +6.8 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $7.6B | $7.2B | $324M | +4% |
| Operating profit | $5.0B | $4.2B | $835M | +20% |
| Costs & expenses | $2.6B | $3.1B | −$511M | -17% |
| Pre-tax earnings | $5.0B | $4.2B | $835M | +20% |
| General & admin | $811M | $847M | −$36.0M | -4% |
| Other operating costs | $1.8B | $2.2B | −$475M | -21% |
| Net earnings | $4.0B | $3.3B | $665M | +20% |
| Income tax | $1.0B | $837M | $170M | +20% |
| Working capital & other | $5.3B | $1.6B | $3.7B | +231% |
| Operating cash flow | $9.3B | $4.9B | $4.3B | +89% |
Questions
How much did Federal National Mortgage Association Fannie Mae's revenue grow year over year in Q2 2026?
Federal National Mortgage Association Fannie Mae's revenue rose $324M (+4%) from $7.2B in Q2 2025 to $7.6B in Q2 2026. Operating margin 65.9% against 57.4% (+8.6 pts).