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How Federal National Mortgage Association Fannie Mae (FNMA) makes money
Federal National Mortgage Association Fannie Mae (FNMA) made $7.7B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Of every dollar of revenue, 67¢ was left as operating profit, 55¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $7.7B | 100.0% |
| Operating profit | $5.1B | 66.8% |
| Income tax | $935M | 12.2% |
| Net earnings | $4.2B | 54.6% |
| Operating cash flow | $876M | 11.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $7.7B | +5% |
| Q2 2026 | $7.6B | +4% |
| Q1 2026 | $7.3B | +3% |
| Q4 2025 | $7.3B | +0.5% |
| Q3 2025 | $7.3B | -0.5% |
| Q2 2025 | $7.2B | -1% |
| Q1 2025 | $7.1B | -0.1% |
From Federal National Mortgage Association Fannie Mae's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Federal National Mortgage Association Fannie Mae make money?
Federal National Mortgage Association Fannie Mae (FNMA) made $7.7B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Of every dollar of revenue, 67¢ was left as operating profit, 55¢ was left as net earnings.
What is Federal National Mortgage Association Fannie Mae's profit margin?
Net earnings were $4.2B, 54.6% of revenue, in the third quarter 2026; the operating margin was 66.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.