# Federal Home Loan Mortgage Corporation (FMCC)

> Source: Nexqual · https://nexqual.com/FMCC · data as of 2026-10-22 19:59 UTC · cite as "Nexqual, Federal Home Loan Mortgage Corporation (FMCC), nexqual.com/FMCC" · informational, not investment advice.

**Price:** USD 3.93 (+14.91% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 3.42 · day 3.31–4.34 · 52w 2.7–11.8 · market cap $2.55B · OQB

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $23.4B, net income $11.8B (50.3% margin) (SEC filings).
- Valuation: P/E 0.2x (avg 1.4x at the last 3 fiscal year-ends).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (5 analysts), mean target USD 9.38 (range 3.5–24).
- Total return with dividends: 1Y -65.2% vs S&P 500 +14.9%; 5Y +373.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0, revenue estimate $5.83B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $22.0B | $21.3B | $21.2B | $23.9B | $23.3B | $23.4B |
| Net income | $12.1B | $9.33B | $10.5B | $11.9B | $10.7B | $11.8B |
| EPS (diluted) | $0.15 | $0.11 | -$0.05 | $0.00 | -$0.02 | — |
| Net margin | 55.2% | 43.9% | 49.6% | 49.6% | 46.1% | 50.3% |
| Revenue growth | +31.8% | -3.1% | -0.2% | +12.6% | -2.7% | — |
| Cash + short-term investments | $10.2B | $6.36B | $6.02B | $5.53B | $5.33B | — |
| Total debt | $2.98T | $3.14T | $3.20T | $182B | $207B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 0.2x · P/S 0.1x · P/B 0.0x · Earnings yield 460.91%
P/E at fiscal year-ends: Dec 2025 3.1x, Dec 2024 0.9x, Dec 2023 0.3x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 5 analysts; mean target USD 9.38 (low 3.5, high 24).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-28 | Keefe, Bruyette & Woods | Target lowered | Underperform | $6.5 → $3.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -65.2% | +373.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -65.3% | +36.4% |
| Volatility (annualized) | 84.9% | 75.6% |
| Max drawdown | -74.3% (Oct 2025→Oct 2026) | -74.6% (Sep 2025→Oct 2026) |

## Peers (Mortgage Finance)
PFSI (PennyMac Financial Services, In) USD 63.36 +6.43% · UWMC (UWM Holdings Corporation) USD 1.15 +3.60% · WD (Walker & Dunlop, Inc) USD 34.68 +5.44% · VEL (Velocity Financial, Inc.) USD 15.21 +2.42% · BETR (Better Home & Finance Holding C) USD 16.58 +6.42% · RKT (Rocket Companies, Inc.) USD 11.74 +5.67%

## More
Full page: https://nexqual.com/FMCC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in FMCC's own 10-K filed 2026-02-12 (https://www.sec.gov/Archives/edgar/data/1026214/000102621426000021/fmcc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | FinTech | "We rely on U.S. FinTech and the mortgage securitization platform for the operation of many of our single-family securitization activities." |

Other companies that name FMCC in their own reports (relationship from FMCC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| related | Central Plains Bancshares, Inc. (CPBI) | 10-K 2026-06-18 | "Additionally, the Association had loans totaling $861,000 and $940,000 as of March 31, 2026 and March 31, 2025, respectively, to related parties that were originated by the Association, sold to Federa…" |
| supplier | OHIO VALLEY BANC CORP (OVBC) | 10-K 2026-03-13 | "The Bank continues to sell a portion of its new fixed-rate real estate loan originations to the Federal Home Loan Mortgage Corporation to enhance customer service and loan pricing." |
| supplier | FS Bancorp, Inc. (FSBW) | 10-K 2026-03-13 | "Of the loans sold to investors, $209.1 million were sold to the Federal National Mortgage Association ("FNMA"), the Government National Mortgage Association ("GNMA"), the FHLB, and the Federal Home Lo…" |
| customer | Eagle Bancorp Montana, Inc. (EBMT) | 10-K 2026-03-09 | "We rely on Federal National Mortgage Association ("FNMA"), Federal Home Loan Mortgage Corporation ("FHLMC") and other purchasers to purchase loans in order to reduce our credit risk and provide fundin…" |
| customer | CENTRAL PACIFIC FINANCIAL CORP (CPF) | 10-K 2026-02-27 | "We rely on Federal National Mortgage Association ("Fannie Mae"), Federal Home Loan Mortgage Corporation ("Freddie Mac"), and other purchasers to purchase first mortgage loans in order to reduce our cr…" |
| partner | Marcus & Millichap, Inc. (MMI) | 10-K 2026-02-26 | "MMCC partners with an assortment of capital providers including national and regional banks, credit unions, private equity funds, insurance companies, government agencies, including the Federal Nation…" |
| supplier | OLD SECOND BANCORP INC (OSBC) | 10-K 2026-02-26 | "Sales to investors included $56.5 million, or 67.6% of total loans sold, to FNMA, and $16.6 million, or 19.9% of total loans sold, to FHLMC for the year ended December 31, 2025." |
| partner | Dime Commercial Bancshares, Inc. /NY/ (DCBG) | 10-K 2026-02-20 | "Additionally, in connection with a loan securitization completed in 2017, the Bank executed a reimbursement agreement with FHLMC that obligates the Company to reimburse FHLMC for any contractual princ…" |
| partner | Cushman & Wakefield Ltd. (CWK) | 10-K 2026-02-19 | "On November 27, 2023, Greystone Servicing Company LLC ("GSC"), a wholly-owned subsidiary of the Greystone JV, entered into an indemnity agreement with Federal Home Loan Mortgage Corporation ("Freddie …" |

## Company outlook (8-K filed 2026-07-30)

- "The provision for credit losses was $0.8 billion for the second quarter of 2025, primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on the company's internal house price index and lower forecasted house price growth rates."
- "(5) Assumes monthly payments that reflect amortization of principal."
- "Media Contact: Frederick Solomon (703) 903-3861 Investor Contact: Mahesh Lal (571) 382-4732 * * * * This press release contains forward-looking statements using terms such as will, expect, forecast, and others that do not refer solely to past periods."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.00 | $0.00 | — | $5.83B | 3 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.00 | — | $5.92B | 3 |
| Current fiscal year (ends 2026-12-31) | $0.01 | $0.00 | — | $23.33B | 3 |
| Next fiscal year (ends 2027-12-31) | $0.00 | $0.00 | — | $24.13B | 3 |