Federal Home Loan Mortgage Corp FMCC

FinancialsBanking ServicesUnited States of America

Last close 4.42 USD on Nov 1, 2026, −56.4% year to date

Quant rating

Quant rating C Rank 480 of 799 in Financials

Growth B 135 of 799
Valuation B 248 of 799
Quality C 479 of 799
Revisions C 548 of 799
Momentum C 545 of 799

Wall Street consensus Hold (2.60)Average target 9.38 USD +112.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.9B
Enterprise value: 3.50T
52-week range: 2.70 – 11.80
3-year range: 0.61 – 14.15
Dividend yield: –
Beta (5 years): 1.77
Shares outstanding: 650M
Next earnings: Feb 12, 2027

About the company

Federal Home Loan Mortgage Corporation is a government-sponsored enterprise. The Company is engaged in purchasing single-family and multifamily residential mortgage loans originated by lenders. The Company’s Single-Family segment provides liquidity and support to the single-family mortgage market through a variety of activities that include the purchase, securitization, and guarantee of single-family loans originated by lenders. Its Single-Family business consists of activities related to providing market liquidity by purchasing and securitizing mortgage loans and issuing guaranteed mortgage-related securities, transferring credit risk, performing loss-mitigation activities, and investing in mortgage-related and other investments. Its Multifamily segment includes the purchase, securitization, and guarantee of multifamily loans, its investments in multifamily loans and mortgage-related securities, and the management of multifamily mortgage credit risk and market risk.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	129,611	119,953	106,070	86,717	65,898	–
Revenue growth	8.1%	13.1%	22.3%	31.6%	0.6%	14.6%
EPS (basic, normalized)	−0.02	0.00	−0.26	0.53	0.75	–
EPS growth	–	–	–	−30.1%	–	–
Gross margin	101.2%	101.3%	101.5%	–	–	101.4%
Net margin	−0.1%	0.0%	−0.2%	0.4%	0.7%	0.2%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	3,067
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	3,350,939
Net debt (mil)	3,502,082
Total equity (mil)	77,769
Net debt / equity	45.03x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	129,611	+8.1%	27.0x	−25.19	−198.1%	−0.2x	3.32	–	1.3x
2026	22,566	−82.6%	155.3x	–	–	–	4.17	+25.8%	1.1x
2027	23,439	+3.9%	149.5x	–	–	–	3.91	−6.4%	1.1x
2028	25,102	+7.1%	139.6x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	22,566	−1.6%	−0.9%	−0.2%	4.17	0.0%	0.0%	+11.3%
2027	23,439	−1.9%	−1.2%	+1.6%	3.91	0.0%	0.0%	+2.3%
2028	25,102	−3.5%	−2.1%	−7.8%	–	–	–	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	4,759	4,928	4,999	5,051	5,102	5,299	5,739	5,547	5,619	6,010
Sales mean (mil)	4,877	4,773	5,036	5,159	5,156	5,316	5,321	5,639	5,421	5,612
Surprise	−2.4%	+3.2%	−0.7%	−2.1%	−1.0%	−0.3%	+7.8%	−1.6%	+3.7%	+7.1%
EPS reported	0.01	0.00	−0.02	0.01	−0.01	−0.01	0.86	0.86	1.10	1.19
EPS mean	0.00	0.00	0.00	0.00	0.97	0.46	0.88	0.89	0.90	0.89
Surprise	–	–	–	–	−101.0%	−102.2%	−1.9%	−3.4%	+22.2%	+34.2%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
FMCC Federal Home Loan Mortgage Corp	2.9B	–	−0.1%	–	1.1x	1.1x	–	–
AXP American Express Company	214.0B	–	13.8%	–	18.0x	15.8x	6.1x	5.4x
RKT Rocket Companies Inc	36.2B	–	−1.0%	–	22.0x	17.0x	1.7x	1.6x
SOFI SoFi Technologies, Inc.	21.7B	18.7%	14.3%	0.99x	27.7x	19.0x	1.9x	1.7x
FNMA Federal National Mortgage Association	5.6B	–	0.0%	–	2.2x	1.8x	−1.8x	−22.9x
PFSI PennyMac Financial Services, Inc.	3.3B	–	16.7%	–	13.1x	7.2x	0.7x	0.6x
Mean		18.7%	7.3%	0.99x	14.0x	10.3x	1.7x	−2.7x
Median		18.7%	6.9%	0.99x	15.6x	11.5x	1.7x	1.6x

Technical analysis

1M+10.5%
3M−21.6%
1Y−58.5%
3Y+587.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Federal Home Loan Mortgage Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	129,611	119,953	106,070	86,717	65,898	65,527
Total interest expense	–	–	–	–	–	–
Net interest income	129,611	119,953	106,070	86,717	65,898	65,527
Loan loss provision	–	–	–	–	–	–
Net interest income after loan loss provision	–	–	–	–	–	–
Non-interest income	–	–	–	–	–	–
Non-interest expense	–	–	–	–	–	–
Net income before taxes	13,361	14,778	13,199	11,604	15,199	9,229
Provision for taxes	2,630	2,920	2,661	2,277	3,090	1,903
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	10,731	11,858	10,538	9,327	12,109	7,326
Extraordinary items	–	–	–	–	–	–
Net income	10,731	11,858	10,538	9,327	12,109	7,326
Basic weighted average shares (mil)	3,234	3,234	650	650	650	3,234
Diluted weighted average shares (mil)	3,234	3,234	650	650	650	3,234
Basic EPS excluding extraordinary items	−0.02	0.00	−0.26	0.53	0.75	0.01
Basic EPS, normalized	−0.02	0.00	−0.26	0.53	0.75	−0.16

Balance sheet in millions of USD, fiscal years

Balance sheet, Federal Home Loan Mortgage Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	–	–	–	–	–	–
Other earning assets	–	–	–	–	–	–
Net loans	–	–	–	–	–	–
Property, plant & equipment	–	–	–	–	–	–
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	3,448,411	3,343,778	3,235,029	3,160,511	2,972,327	2,548,716
Other long-term assets	6,274	6,183	5,054	6,484	7,909	23,936
Other assets	26,566	21,333	25,927	27,156	11,931	12,654
Total assets	3,497,598	3,386,692	3,280,976	3,208,333	3,025,586	2,627,415
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	10,597	9,822	8,812	7,309	6,268	6,210
Total deposits	–	–	–	–	–	–
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	–	–	–	–	–	–
Current portion of long-term debt	45,515	48,235	41,244	40,827	48,625	43,422
Long-term debt	3,321,789	3,242,039	3,161,126	3,097,293	2,931,560	2,544,169
Minority interest	–	–	–	–	–	–
Other liabilities	49,313	27,021	22,072	25,886	11,100	17,201
Total liabilities	3,427,214	3,327,117	3,233,254	3,171,315	2,997,553	2,611,002
Shareholders' equity
Preferred stock	−67,600	−56,390	−44,661	−35,230	−25,311	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	–	–	–	–	0	0
Retained earnings (accumulated deficit)	−12,539	−23,270	−35,128	−45,666	−54,993	−67,102
Treasury stock	−3,885	−3,885	−3,885	−3,885	−3,885	−3,885
Other equity	154,408	143,120	131,396	121,799	112,222	87,400
Total equity	70,384	59,575	47,722	37,018	28,033	16,413
Total liabilities & shareholders' equity	3,497,598	3,386,692	3,280,976	3,208,333	3,025,586	2,627,415

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Federal Home Loan Mortgage Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	10,731	11,858	10,538	9,327	12,109	7,326
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	230	255	1,762	528	473	−590
Non-cash items	2,197	−1,231	−1,898	−2,186	−6,521	−2,291
Changes in working capital	6,215	−4,255	−2,787	4,256	10,292	−3,538
Cash from operations	19,373	6,627	7,615	11,925	16,353	907
Investing activities
Capital expenditures	–	–	–	–	–	–
Other investing cash flows	4,744	9,624	44,253	11,398	24,250	−83,355
Cash from investing	4,744	9,624	44,253	11,398	24,250	−83,355
Financing activities
Financing cash flow items	−5.0	−9.0	−145	87.0	−4.0	−46.0
Cash dividends paid	–	–	–	–	0	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−24,319	−16,727	−52,064	−27,200	−54,338	101,194
Cash from financing	−24,324	−16,736	−52,209	−27,113	−54,342	101,148
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−207	−485	−341	−3,790	−13,739	18,700
Free cash flow	19,373	6,627	7,615	11,925	16,353	907

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.