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Federal National Mortgage Association Fannie Mae vs Federal Home Loan Mortgage: FNMA and FMCC compared
Federal National Mortgage Association Fannie Mae is the larger company: $7.7B of revenue in its latest quarter (Q3 2026) against $6.8B for Federal Home Loan Mortgage (Q3 2026). Federal Home Loan Mortgage is growing faster (+19% against +5% a year earlier). Federal National Mortgage Association Fannie Mae is more profitable, with an operating margin of 66.8% against 59.0%.
Where the money goes: FNMA and FMCC
Federal National Mortgage Association Fannie Mae (FNMA) · Q3 2026
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.
Federal Home Loan Mortgage (FMCC) · Q3 2026
Federal Home Loan Mortgage, Q3 2026: revenue $6.8B (+19% year over year), operating margin 59.0%, net earnings $3.2B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
| Federal National Mortgage Association Fannie Mae (FNMA) | Federal Home Loan Mortgage (FMCC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $7.7B | $6.8B |
| Revenue growth, Y/Y | +5% | +19% |
| Operating margin | 66.8% | 59.0% |
| Net earnings | $4.2B | $3.2B |
| Net margin | 54.6% | 47.5% |
| Operating cash flow | $876M | $4.2B |
| Market value | $25.1B | $12.6B |
| P/E | 19.4× | 1.2× |
| Analysts’ mean target | $4.12 | $4.50 |
Questions
Which is bigger, Federal National Mortgage Association Fannie Mae or Federal Home Loan Mortgage?
Federal National Mortgage Association Fannie Mae is the larger company: $7.7B of revenue in its latest quarter (Q3 2026) against $6.8B for Federal Home Loan Mortgage (Q3 2026).
Is Federal National Mortgage Association Fannie Mae or Federal Home Loan Mortgage growing faster?
Federal Home Loan Mortgage is growing faster (+19% against +5% a year earlier).
Which is more profitable, Federal National Mortgage Association Fannie Mae or Federal Home Loan Mortgage?
Federal National Mortgage Association Fannie Mae is more profitable, with an operating margin of 66.8% against 59.0%.
More: Federal National Mortgage Association Fannie Mae earnings · how Federal National Mortgage Association Fannie Mae makes money · Federal Home Loan Mortgage earnings · how Federal Home Loan Mortgage makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.