FNMA Federal National Mortgage Association margins

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Relative Growth: Rel. Growth: 20
Relative Strength: Rel. Strength: 15
Relative Valuation: Rel. Valuation: 51
Relative Profitability: Rel. Profitability: 68
Gross margin
100%
Operating margin
71.9%
EBITDA margin
60.8%
Net margin
48.9%

Currently, Federal National Mortgage Association has a gross margin of 100%, an operating margin of 71.9%, an EBITDA margin of 60.8%, and a net margin of 48.9%. The largest positive change was in operating margin, up 4.9 percentage points. The largest negative change was in EBITDA margin, down 2.5 percentage points.

FNMA margin history

Gross, operating, EBITDA and net margin trends

Federal National Mortgage Association's margins averaged 100% gross, 68.12% operating, 66.57% EBITDA, and 53.09% 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 4.9 percentage points, but EBITDA margin contracted by 2.5 percentage points and net margin by 1.6 percentage points.

Gross margin expansion
0pp
Operating margin expansion
4.9pp
EBITDA margin expansion
-2.5pp
Net margin expansion
-1.6pp

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 Sep 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 68.12%. Against its three-year average, Federal National Mortgage Association's operating margin is currently 71.9%, 3.8 percentage points above its three-year average. Looking back over the last 3 years, Federal National Mortgage Association's operating margin reached 71.9% at its highest point in Sep 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 66.57%. The latest EBITDA margin for Federal National Mortgage Association is 60.8%, 5.8 percentage points below its three-year average. Federal National Mortgage Association's EBITDA margin ranged from a low of 59.2% in Mar 2026 to a high of 73% in Dec 2023.

FNMA Net margin

The average net margin for Federal National Mortgage Association was 53.09% in the last 3 years. Currently, the current net margin for Federal National Mortgage Association is 48.9%, 4.2 percentage points below its three-year average. The net margin for Federal National Mortgage Association moved between 47.3% 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 83.5%, Federal National Mortgage Association's gross margin is 20% higher.

FNMA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Federal National Mortgage Association's gross margin?

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

What is Federal National Mortgage Association's operating margin?

For the period ending Sep 30, 2026, FNMA recorded an operating margin of 71.9%.

What is Federal National Mortgage Association's EBITDA margin?

The current EBITDA margin for FNMA is 60.8% as of Sep 30, 2026.

What is Federal National Mortgage Association's net margin?

The current net margin for FNMA is 48.9% as of Sep 30, 2026.

What are the average margins of FNMA?

The three-year average margins for FNMA were 100.0% gross, 68.1% operating, 66.6% EBITDA, and 53.1% 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 Sep 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, 59.2% EBITDA in Mar 2026, and 47.3% net in Mar 2026.