FMCC vs FNMA
Federal Home Loan Mortgage Corp. and Federal National Mortgage Association Fannie MAE, side by side — 9 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | FMCC | FNMA |
|---|---|---|
| Revenue | $23.3B | $29.0B |
| Net income | $10.7B | $14.4B |
| Gross margin | · | · |
| Net margin | 46.1% | 49.6% |
| Return on equity | 16.5% | 14.1% |
| Diluted EPS | $0.02 | $0.00 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | · | · |
| Equity | $70.4B | $109.0B |
| Net debt / equity | 2.87× | 37.73× |
| Current ratio | · | · |
| Revenue CAGR 5y | 6.9% | 2.7% |
| Profit CAGR 5y | 7.9% | 4.0% |
FNMA bills 1.2× the revenue of FMCC, and keeps more of each dollar of revenue as profit (49.6% against 46.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
9 years side by side
| Fiscal year | FMCC | FNMA |
|---|---|---|
| FY2025 | $23.3B | $29.0B |
| FY2024 | $23.9B | $29.1B |
| FY2023 | $21.2B | $29.0B |
| FY2022 | $21.3B | $29.7B |
| FY2021 | $22.0B | $29.9B |
| FY2020 | $16.7B | $25.3B |
| FY2019 | $14.1B | $21.9B |
| FY2018 | $15.6B | $21.8B |
| FY2017 | $21.1B | $23.0B |
Bottom line
| Fiscal year | FMCC | FNMA |
|---|---|---|
| FY2025 | $10.7B | $14.4B |
| FY2024 | $11.9B | $17.0B |
| FY2023 | $10.5B | $17.4B |
| FY2022 | $9.3B | $12.9B |
| FY2021 | $12.1B | $22.2B |
| FY2020 | $7.3B | $11.8B |
| FY2019 | $7.2B | $14.2B |
| FY2018 | $9.2B | $16.0B |
| FY2017 | $5.6B | $2.5B |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$5,693,000,000 | FNMA |
| FY2024 | −$5,157,000,000 | FNMA |
| FY2023 | −$7,819,000,000 | FNMA |
| FY2022 | −$8,471,000,000 | FNMA |
| FY2021 | −$7,997,000,000 | FNMA |
| FY2020 | −$8,669,000,000 | FNMA |
| FY2019 | −$7,781,000,000 | FNMA |
| FY2018 | −$6,258,000,000 | FNMA |
| FY2017 | −$1,903,000,000 | FNMA |
FNMA has reported the higher revenue in every one of these 9 fiscal years. The gap has widened since the earliest year compared.
9 of 12 comparable fiscal years — a year missing data on either side is not counted.
8 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −3.5 pp | FNMA |
| FY2024 | −8.8 pp | FNMA |
| FY2023 | −10.3 pp | FNMA |
| FY2022 | +0.4 pp | FMCC |
| FY2021 | −18.9 pp | FNMA |
| FY2020 | −2.6 pp | FNMA |
| FY2019 | −13.5 pp | FNMA |
| FY2018 | −13.8 pp | FNMA |
The higher net margin has changed hands between FMCC and FNMA over this period.
8 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
FNMA's net margin has been more volatile than FMCC's over the 8 comparable fiscal years — 10.9 percentage points of standard deviation against 5.1.
8 of 12 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between FMCC and FNMA over these 8 fiscal years — FMCC led in 1 and FNMA in 7.
8 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
FNMA's return on equity has been more volatile than FMCC's over the 7 comparable fiscal years — 39.7 percentage points of standard deviation against 29.2.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between FMCC and FNMA over these 7 fiscal years — FMCC led in 3 and FNMA in 4.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.