Filing Flows › Federal National Mortgage Association Fannie Mae (FNMA) › Q2 2026
Federal National Mortgage Association Fannie Mae (FNMA) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Federal National Mortgage Association Fannie Mae (FNMA) reported revenue of $7.6B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +4% from the quarter before. Operating margin was 65.9%, net earnings $4.0B (52.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.6B | +4% | +4% |
| Operating profit | $5.0B | +7% | +20% |
| Net earnings | $4.0B | +7% | +20% |
| Operating cash flow | $9.3B | -44% | +89% |
What changed
Revenue was $7.6B in Q2 2026, up 4% year over year and up 4% from the previous quarter.
Operating profit was $5.0B, a 65.9% margin (up 8.6 points year over year). Of the extra revenue versus Q2 2025, 258% reached operating profit, above the 57% margin then. Total costs fell 17% while revenue rose 4%. Net earnings were $4.0B, up 20% year over year. The effective tax rate was 20.2%.
Operating cash flow was $9.3B (up 89% year over year), 232% of net earnings. Working capital and other items added $5.3B.
Questions
What was Federal National Mortgage Association Fannie Mae's revenue in the second quarter 2026?
Federal National Mortgage Association Fannie Mae (FNMA) reported revenue of $7.6B for the second quarter 2026 (Q2 2026), +4% from a year earlier and +4% from the quarter before.
Was Federal National Mortgage Association Fannie Mae profitable in the second quarter 2026?
Operating profit was $5.0B (65.9% of revenue) and net earnings $4.0B.
Source: Federal National Mortgage Association Fannie Mae 10-Q on SEC EDGAR.