Federal Home Loan Bank Of Des Moines's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Federal Home Loan Bank Of Des Moines (FHLBDM) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Federal Home Loan Bank Of Des Moines vs Its Competitors
- TTM: Trailing 12-month revenue of 1,347M vs 29,832M combined for tracked competitors (4.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+5.7% annualized vs trailing 12 months), vs accelerating (+2.8%) for its tracked peer group.
- Growth: Federal Home Loan Bank Of Des Moines generated 16.7% revenue growth year over year in Q2 2026, vs -6.3% for its tracked competitors combined.
- Profitability: Its 70.5% net margin compares with 63.6% for the peer group.
- Peer revenue share: Federal Home Loan Bank Of Des Moines accounted for 4.4% of combined revenue among its tracked peer group, up from 3.6% a year earlier.
- Peer differentiation: Revenue per employee of $3.77M compares with $5.43M for the peer group (0.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FHLBDM Sales vs. its Competitors, Q2 2026
Federal Home Loan Bank Of Des Moines reported revenue growth of 16.72 % year on year in Q2 2026, above its competitors' combined revenue change of -6.27 %.
With a net margin of 70.51 %, Federal Home Loan Bank Of Des Moines achieved higher profitability than its competitors (63.63 %).
Federal Home Loan Bank Of Des Moines generated 4.44 % of the combined sales of its peer group, up from 3.59 % a year earlier.
Federal Home Loan Bank Of Des Moines vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Federal Home Loan Bank Of Des Moines and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Federal Home Loan Bank Of Des Moines | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Federal Home Loan Bank Of Des Moines's competitor groups requires a Commercial License.
For context: the Miscellaneous Financial Services industry grew revenue 293.3% year over year, combined, vs 16.7% for Federal Home Loan Bank Of Des Moines. Federal Home Loan Bank Of Des Moines's share of combined industry revenue moved from 0.36% to 0.11%, a loss of 0.25 percentage points.
Federal Home Loan Bank Of Des Moines's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | Yes | Yes | Yes | Yes |
| Competitors combined (13) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FHLBDM Stock Performance relative to its Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Financial Institutions Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Federal Home Loan Bank Of Des Moines's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Federal Home Loan Bank Of Des Moines's Comment on Competition and Industry Peers
Advances
One of our primary businesses is to make advances to our members and eligible
housing associates. Demand for our advances is affected by, among other things,
the cost of other available sources of funding for our borrowers. We compete
with other suppliers of secured and unsecured wholesale funding including, but
not limited to, investment banks, commercial banks, other GSEs, and U.S. Government
agencies. We may also compete with other FHLBanks to the extent that member
institutions have affiliated institutions located outside of our district. Furthermore,
our members typically have access to brokered deposits and resale agreements,
each of which represent competitive alternatives to our advances. Many of our
competitors are not subject to the same body of regulation that we are, which
enables those competitors to offer products and terms that we may not be able
to offer. Efforts to effectively compete with other suppliers of wholesale funding
by changing the pricing of our advances may result in a decrease in the profitability
of our advance business.
Mortgage Loans
The purchase of mortgage loans through the MPF program is subject to competition
on the basis of prices paid for mortgage loans, customer service, and ancillary
services, such as automated underwriting and loan servicing options. We compete
primarily with other GSEs, such as Fannie Mae, Freddie Mac, and other financial
institutions and private investors for acquisition of conventional fixed rate
mortgage loans.
Consolidated Obligations
Our primary source of funding is through the issuance of consolidated obligations.
We compete with the U.S. Government, Fannie Mae, Freddie Mac, and other GSEs
as well as corporate, sovereign, and supranational entities for funds raised
through the issuance of debt in the national and global debt markets. In the
absence of increased demand, increased supply of competing debt products may
result in higher debt costs or lesser amounts of debt issued at the same cost.
Although our debt issuances have kept pace with the funding needs of our members,
there can be no assurance that this will continue.
Publicly Traded Peers of Federal Home Loan Bank Of Des Moines
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Federal Home Loan Bank Of Des Moines | - | 1,347.00 |
| Federal National Mortgage Association Fannie Mae | 24,573.81 | 30,982.00 |
| Federal Home Loan Mortgage Corporation | 12,289.20 | 23,534.00 |
| Federal Agricultural Mortgage Corporation | 1,595.08 | 410.77 |
| Financial Institutions Inc | 783.48 | 243.46 |
| Federal Home Loan Bank Of Topeka | - | 535.96 |
| SUBTOTAL | 39,241.58 | 62,160.53 |
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Sources: Federal Home Loan Bank Of Des Moines's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Federal Home Loan Bank Of Des Moines versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Federal Home Loan Bank Of Des Moines's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Financial Institutions Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Federal Home Loan Bank Of Des Moines's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Federal Home Loan Bank Of Des Moines's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | - | 3,773,109 | 2,714,286 |
| Federal National Mortgage Association Fannie Mae | 24,574 | 77,261,845 | 35,967,581 |
| Federal Home Loan Mortgage Corporation | 12,289 | 3,199,728 | 1,760,163 |
| Federal Agricultural Mortgage Corporation | 1,595 | 1,937,585 | 1,080,193 |
| Financial Institutions Inc | 783 | 385,837 | 130,945 |
| Federal Home Loan Bank Of Topeka | - | 2,037,871 | 1,372,323 |
| PEERS TOTAL | 39,242 | 5,434,632 | 2,853,970 |
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Federal Home Loan Bank Of Des Moines's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Financial Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (80 companies). See the full Miscellaneous Financial Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 53.42 % (avg) | - |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 555.09 % | 2.15 % (avg) | +552.9 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 4.86 % (avg) | -4.9 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Federal Home Loan Bank Of Des Moines's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 14.20 % | -16.63 % | -6.70 % | -9.01 % | -2.11 % | -15.88 % | -1.24 % | -1.96 % |
| Operating Margin | 51.07 % | 82.34 % | 78.32 % | 71.81 % | 64.53 % | 63.46 % | 79.75 % | 78.38 % |
| Return on Invested Capital | 0.16 % | 0.34 % | 0.33 % | 0.30 % | 0.30 % | 0.29 % | 0.58 % | 0.51 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Federal Home Loan Bank Of Des Moines's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 4.86 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Federal Home Loan Bank Of Des Moines's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Federal Home Loan Bank Of Des Moines's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Federal Home Loan Bank Of Des Moines's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Federal Home Loan Bank Of Des Moines falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Federal Home Loan Bank Of Des Moines's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 15.8 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+5.7% annualized vs trailing 12 months).
Weaknesses
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (58.30 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Federal Home Loan Bank Of Des Moines's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | 5.48 | 96.44 | 10.82 |
| Federal National Mortgage Association Fannie Mae | 1.52 | 353.24 | 1.24 |
| Federal Home Loan Mortgage Corporation | 0.04 | 111.77 | 13.68 |
| Federal Agricultural Mortgage Corporation | - | 0.59 | 6.84 |
| Financial Institutions Inc | 0.01 | 1.33 | 0.37 |
| Federal Home Loan Bank Of Topeka | 1.91 | 54.96 | 10.55 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Federal Home Loan Bank Of Des Moines's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | Q2 2026 | +16.7 % | +29.4 % |
| Federal National Mortgage Association Fannie Mae | Q1 2026 | +3.0 % | +1.6 % |
| Federal Home Loan Mortgage Corporation | Q2 2026 | -10.6 % | +60.8 % |
| Federal Agricultural Mortgage Corporation | Q2 2026 | +24.3 % | +22.1 % |
| Financial Institutions Inc | Q2 2026 | +7.0 % | +20.8 % |
| Federal Home Loan Bank Of Topeka | Q2 2026 | -13.2 % | -18.7 % |
| PEERS TOTAL | -1.6 % | +20.6 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Federal Home Loan Bank Of Des Moines's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | Q2 2026 | - | - |
| Federal National Mortgage Association Fannie Mae | Q1 2026 | - | - |
| Federal Home Loan Mortgage Corporation | Q2 2026 | - | - |
| Federal Agricultural Mortgage Corporation | Q2 2026 | -9.0 % | - |
| Financial Institutions Inc | Q2 2026 | +21.3 % | -46.9 % |
| Federal Home Loan Bank Of Topeka | Q2 2026 | +9.4 % | -77.6 % |
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Federal Home Loan Bank Of Des Moines's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Federal Home Loan Bank Of Des Moines | 0.49% | 0.49% | 8.89% |
| Federal National Mortgage Association Fannie Mae | 0.33% | 0.33% | 13.45% |
| Federal Home Loan Mortgage Corporation | 0.37% | 0.37% | 17.88% |
| Federal Agricultural Mortgage Corporation | 0.63% | 0.63% | 13.13% |
| Financial Institutions Inc | 1.31% | 3.75% | 13.09% |
| Federal Home Loan Bank Of Topeka | 0.45% | 0.45% | 8.37% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Federal Home Loan Bank Of Des Moines's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Federal Home Loan Bank Of Des Moines | - | - |
| Federal National Mortgage Association Fannie Mae | 148.01 | 0.79 |
| Federal Home Loan Mortgage Corporation | - | 0.52 |
| Federal Agricultural Mortgage Corporation | 7.31 | 3.88 |
| Financial Institutions Inc | 9.61 | 3.22 |
| Federal Home Loan Bank Of Topeka | - | - |
| PEERS AVERAGE | 1.19 | 0.63 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.