FMCC FEDERAL HOME LOAN MORTGAGE CORP

Overview and Growth

In fiscal 2025, FEDERAL HOME LOAN MORTGAGE CORP recorded $23.27B of revenue, net income of $10.73B, and an operating cash inflow of $19.37B. Revenue of $23.27B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 2.7% from $23.91B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. On a per-share basis, diluted EPS was -$0.02, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 3.23B, linking total earnings with the per-share result received by shareholders. The diluted share count was 0.0% higher than fiscal 2024, when diluted shares averaged 3.23B, adding context to the EPS comparison. At period end, total assets were $3.50T, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.01x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The bottom-line result was net income of $10.73B, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 46.1% margin after operating costs and the remaining recognized items. Pretax income was $13.36B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 57.4%, relating income before taxes directly to revenue. The company recognized $2.63B of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 19.7%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 15.2%, indicating the profitability achieved on book capital. Return on period-end assets was 0.3%, connecting net income with the company’s total asset base. Current net income of $10.73B was below fiscal 2024 net income of $11.86B, showing the direction of the bottom-line change.

Liquidity and Capital Structure

The company held $3.50T of assets against $3.43T of liabilities and $70.38B of equity, revealing how the asset base was financed. Cash and equivalents totaled $5.33B, identifying the most liquid reported component available within the broader current-asset balance. Total debt was $207.01B, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 2.94x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 5.9%, comparing borrowing with the total asset balance. Book equity represented 2.0% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 98.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 0.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 3.3% from $3.39T in fiscal 2024, leaving current total assets higher year over year. Book equity was 18.1% higher than fiscal 2024 equity of $59.58B, showing how shareholder capital changed year over year. Compared with $5.53B in fiscal 2024, the current cash balance moved 3.7% and finished lower.

Cash Flow and Earnings Quality

The company reported $19.37B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.81x, comparing cash generated by operations with the bottom-line earnings result. The operating cash outcome moved from $6.63B in fiscal 2024 to $19.37B, ending above the prior-year level.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.