FNMA Federal National Mortgage Association margins

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Relative Growth: Rel. Growth: 12
Relative Strength: Rel. Strength: 9
Relative Valuation: Rel. Valuation: 32
Relative Profitability: Rel. Profitability: 69
Gross margin
100%
Operating margin
70.6%
EBITDA margin
62.7%
Net margin
50.1%

Currently, Federal National Mortgage Association has a gross margin of 100%, an operating margin of 70.6%, an EBITDA margin of 62.7%, and a net margin of 50.1%. The largest positive change was in operating margin, up 3.9 percentage points. The largest negative change was in EBITDA margin, down 1.3 percentage points.

FNMA margin history

Gross, operating, EBITDA and net margin trends

Federal National Mortgage Association's margins averaged 100% gross, 67.76% operating, 67.35% EBITDA, and 53.68% net during the last 3 years. At present, operating margin is above its three-year average, while EBITDA and net margins are below their three-year averages.

FNMA margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 3.9 percentage points, but EBITDA margin contracted by 1.3 percentage points and net margin by 1 percentage point.

Gross margin expansion
0pp
Operating margin expansion
3.9pp
EBITDA margin expansion
-1.3pp
Net margin expansion
-1pp

FNMA Gross margin

Federal National Mortgage Association's gross margin averaged 100% in the last 3 years. Compared with its three-year average, Federal National Mortgage Association's current gross margin is 100% and is in line with its three-year average. Over the last 3 years, Federal National Mortgage Association's gross margin peaked at 100% in Jun 2026 and reached a low of 100% in Dec 2023.

FNMA Operating margin

Over the last 3 years, Federal National Mortgage Association had an average operating margin of 67.76%. Against its three-year average, Federal National Mortgage Association's operating margin is currently 70.6%, 2.8 percentage points above its three-year average. Looking back over the last 3 years, Federal National Mortgage Association's operating margin reached 70.6% at its highest point in Jun 2026 and 66.7% at its lowest in Jun 2025.

FNMA EBITDA margin

Over the last 3 years, the average EBITDA margin for Federal National Mortgage Association was 67.35%. The latest EBITDA margin for Federal National Mortgage Association is 62.7%, 4.7 percentage points below its three-year average. Federal National Mortgage Association's EBITDA margin ranged from a low of 60.1% in Mar 2026 to a high of 73% in Dec 2023.

FNMA Net margin

The average net margin for Federal National Mortgage Association was 53.68% in the last 3 years. Currently, the current net margin for Federal National Mortgage Association is 50.1%, 3.6 percentage points below its three-year average. The net margin for Federal National Mortgage Association moved between 48% in Mar 2026 and 58.1% in Sep 2024.

FNMA margin group comparison

Margins compared with peer-group, industry and sector averages

Federal National Mortgage Association's gross margin of 100% is higher than the Financial Services sector, the industry and its peers average. In comparison with the Financial Services sector average of 83.7%, Federal National Mortgage Association's gross margin is 19% higher.

FNMA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Federal National Mortgage Association's gross margin?

As of Jun 30, 2026, FNMA has a gross margin of 100%.

What is Federal National Mortgage Association's operating margin?

For the period ending Jun 30, 2026, FNMA recorded an operating margin of 70.6%.

What is Federal National Mortgage Association's EBITDA margin?

The current EBITDA margin for FNMA is 62.7% as of Jun 30, 2026.

What is Federal National Mortgage Association's net margin?

The current net margin for FNMA is 50.1% as of Jun 30, 2026.

What are the average margins of FNMA?

The three-year average margins for FNMA were 100.0% gross, 67.8% operating, 67.4% EBITDA, and 53.7% net.

What are the highest historical margins of FNMA?

Over the last 5 years, Federal National Mortgage Association's highest margins were 100% gross in Jun 2026, 76.4% operating in Dec 2021, 76.4% EBITDA in Dec 2021, and 60.6% net in Dec 2021.

What are the lowest historical margins of FNMA?

Federal National Mortgage Association's lowest recorded margins during the past 5 years were 100% gross in Dec 2021, 65.1% operating in Jun 2023, 60.1% EBITDA in Mar 2026, and 48% net in Mar 2026.