Federal National Mortgage Association Fannie Mae (FNMA) Net Margin (2009 - 2026)
Federal National Mortgage Association Fannie Mae (FNMA) posted quarterly Net Margin of 2.02% for Q2 2026, up 211.0% year-over-year from 0.65% in Q2 2025, and up 70.66% quarter-over-quarter from 1.18% in Q1 2026.
Federal National Mortgage Association Fannie Mae (FNMA) Net Margin (2009 - 2026) Analysis & Trends
Federal National Mortgage Association Fannie Mae (FNMA) has reported Net Margin for 18 consecutive years, with 2.02% the latest figure, recorded in Q2 2026.
- In Q2 2026, Net Margin rose 211.0% year-over-year to 2.02%; the TTM figure through Jun 2026 stood at 0.82% (up 83.0% YoY), while the FY2025 annual figure was 0.04%, up 3.0% from the prior year.
- Net Margin advanced to 2.02% in Q2 2026 per FNMA's latest filing, from 1.18% in the prior quarter.
- Across five years, Net Margin topped out at 2.87% in Q4 2023 and bottomed at 0.15% in Q4 2022.
- Historically, Net Margin has averaged 0.43% across 5 years, with a median of 0.1% in 2025.
- Annual changes were most pronounced in 2023 — Net Margin surged 302 bps — and 2024, when it plunged 260 bps.
- Federal National Mortgage Association Fannie Mae's Net Margin stood at 0.15% in 2022, then surged by 1963 bps to 2.87% in 2023, then slumped by 91 bps to 0.27% in 2024, then tumbled by 49 bps to 0.14% in 2025, then surged by 1375 bps to 2.02% in 2026.
- Business Quant data shows FNMA's Net Margin at 2.02% in Q2 2026, 1.18% in Q1 2026, and 0.14% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 39.89 Bn | 36.79 Bn | - | 8.23% |
| 2 | Federal National Mortgage Association Fannie Mae | 36.43 Bn | 36.43 Bn | - | 2.02% |
| 3 | Federal Home Loan Mortgage | 18.24 Bn | 13.92 Bn | - | -0.15% |
| 4 | PennyMac Financial Services | 3.95 Bn | 3.20 Bn | 480.08 Mn | 4.37% |
| 5 | CNFinance Holdings | 1.54 Bn | 1.47 Bn | - | - |
| 6 | Walker & Dunlop | 1.34 Bn | 1.18 Bn | - | 0.93% |
| 7 | Velocity Financial | 711.47 Mn | -6.74 Bn | - | -27.18% |
| 8 | UWM Holdings | 482.66 Mn | -15.75 Mn | - | -50.89% |
| 9 | Onity | 303.97 Mn | 107.67 Mn | - | -4.56% |
| 10 | loanDepot | 201.58 Mn | -109.56 Mn | - | -1.96% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 2.02% |
| Mar 31, 2026 | 1.18% |
| Sep 30, 2025 | 0.14% |
| Jun 30, 2025 | -0.09% |
| Mar 31, 2025 | 0.10% |
| Dec 31, 2024 | 0.27% |
| Sep 30, 2024 | -0.04% |
| Jun 30, 2024 | 0.09% |
| Mar 31, 2024 | -0.07% |
| Dec 31, 2023 | 2.87% |
| Sep 30, 2023 | 0.22% |
| Jun 30, 2023 | -0.01% |
| Dec 31, 2022 | -0.15% |
| Sep 30, 2022 | 0.04% |
| Jun 30, 2022 | 0.05% |
| Mar 31, 2022 | 0.21% |
| Dec 31, 2021 | 0.06% |
| Sep 30, 2021 | 0.19% |
| Jun 30, 2021 | 0.37% |
| Mar 31, 2021 | -1.06% |