Federal National Mortgage Association Fannie Mae's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Federal National Mortgage Association Fannie Mae (FNMA) 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 National Mortgage Association Fannie Mae vs Its Competitors
- TTM: Trailing 12-month revenue of 30,982M vs 30,935M combined for tracked competitors (50.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-4.4% annualized vs trailing 12 months), vs decelerating (-4.1%) for its tracked peer group.
- Growth: Federal National Mortgage Association Fannie Mae generated 3.0% revenue growth year over year in Q1 2026, vs -5.2% for its tracked competitors combined.
- Profitability: Its 50.3% net margin compares with 64.2% for the peer group.
- Scale: Federal National Mortgage Association Fannie Mae ranks #6 of 117 companies by market capitalization in the Miscellaneous Financial Services industry, holding 4.0% of industry market cap.
- Peer revenue share: Federal National Mortgage Association Fannie Mae accounted for 50.0% of combined revenue among its tracked peer group, up from 47.9% a year earlier.
- Peer differentiation: Revenue per employee of $77.26M compares with $2.94M for the peer group (26.3x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FNMA Sales vs. its Competitors, Q1 2026
Federal National Mortgage Association Fannie Mae reported revenue growth of 3.02 % year on year in Q1 2026, above its competitors' combined revenue change of -5.22 %.
With a net margin of 50.26 %, Federal National Mortgage Association Fannie Mae reported lower profitability than its competitors (64.19 %).
Federal National Mortgage Association Fannie Mae generated 49.95 % of the combined sales of its peer group, up from 47.87 % a year earlier.
Federal National Mortgage Association Fannie Mae vs. its Competitors, Q1 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 National Mortgage Association Fannie Mae and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Federal National Mortgage Association Fannie Mae | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Federal National Mortgage Association Fannie Mae's competitor groups requires a Commercial License.
For context: the Miscellaneous Financial Services industry grew revenue 293.3% year over year, combined, vs 3.0% for Federal National Mortgage Association Fannie Mae. Federal National Mortgage Association Fannie Mae's share of combined industry revenue moved from 8.53% to 2.23%, a loss of 6.30 percentage points.
Federal National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae | Yes | Yes | No | No |
| Competitors combined (12) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 50.00 % (4 of 8) | 50.00 % (4 of 8) | 71.40 % (5 of 7) |
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.
FNMA Stock Performance relative to its Competitors
FNMA Stock Performance relative to High-Confidence Competitors
FNMA Stock Performance relative to Similar-Size Competitors
FNMA Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Federal Home Loan Mortgage Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Federal National Mortgage Association Fannie Mae's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Federal National Mortgage Association Fannie Mae's Comment on Competition and Industry Peers
Publicly Traded Peers of Federal National Mortgage Association Fannie Mae
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Federal National Mortgage Association Fannie Mae | 25,870.27 | 30,982.00 |
| Federal Home Loan Mortgage Corporation | 12,936.00 | 23,534.00 |
| Federal Agricultural Mortgage Corporation | 1,595.08 | 410.77 |
| Federal Home Loan Bank Of Topeka | - | 535.96 |
| Federal Home Loan Bank Of San Francisco | - | 623.00 |
| Federal Home Loan Bank Of Pittsburgh | - | 588.73 |
| SUBTOTAL | 40,401.35 | 61,917.06 |
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Sources: Federal National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Federal National Mortgage Association Fannie Mae's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Federal Home Loan Banks | Named by the company | 85% |
| Federal Agricultural Mortgage Corporation | Named by the company | 85% |
| Federal Housing Administration | Named by the company | 85% |
| Department of Veterans Affairs | Named by the company | 85% |
| Ginnie Mae | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Federal National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae | 25,870 | 77,261,845 | 35,967,581 |
| Federal Home Loan Mortgage Corporation | 12,936 | 3,199,728 | 1,760,163 |
| Federal Agricultural Mortgage Corporation | 1,595 | 1,937,585 | 1,080,193 |
| Federal Home Loan Bank Of Topeka | - | 2,037,871 | 1,372,323 |
| Federal Home Loan Bank Of San Francisco | - | 2,324,627 | 1,388,060 |
| Federal Home Loan Bank Of Pittsburgh | - | 2,402,963 | 1,543,861 |
| PEERS TOTAL | 14,531 | 2,941,994 | 1,749,814 |
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Federal National Mortgage Association Fannie Mae's Position in Industry Market Structure
Market-capitalization share and concentration across all 103 companies in Federal National Mortgage Association Fannie Mae's industry classification, broader than the peer set above. Market cap in millions of $.Federal National Mortgage Association Fannie Mae ranks #6 of 103 companies by market capitalization in its industry, holding 4.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,330, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | American Express Company | 207,998 | 32.18 % |
| 2 | Nu Holdings Ltd | 59,992 | 9.28 % |
| 3 | Coinbase Global Inc | 50,520 | 7.82 % |
| 4 | Eason Technology Limited | 36,989 | 5.72 % |
| 5 | Strategy Inc | 1,234 | 5.2% |
| 6 | Federal National Mortgage Association Fannie Mae | 25,870 | 4.00 % |
| 7 | Synchrony Financial | 1,234 | 5.2% |
| 8 | Circle Internet Group Inc | 1,234 | 5.2% |
| 9 | Sofi Technologies Inc | 1,234 | 5.2% |
| 10 | Bitmine Immersion Technologies Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Federal National Mortgage Association Fannie Mae's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Federal National Mortgage Association Fannie Mae's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | American Express Company | 207,998 | -10.28 % |
| 2 | Nu Holdings Ltd | 59,992 | -20.94 % |
| 3 | Coinbase Global Inc | 50,520 | -35.70 % |
| 4 | Eason Technology Limited | 36,989 | -91.79 % |
| 5 | Strategy Inc | 1,234 | 12.3% |
| 6 | Federal National Mortgage Association Fannie Mae | 25,870 | -62.66 % |
| 7 | Synchrony Financial | 1,234 | 12.3% |
| 8 | Circle Internet Group Inc | 1,234 | 12.3% |
| 9 | Sofi Technologies Inc | 1,234 | 12.3% |
| 10 | Bitmine Immersion Technologies Inc | 1,234 | 12.3% |
| 11 | Iren Limited | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Federal National Mortgage Association Fannie Mae's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Federal National Mortgage Association Fannie Mae'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 | 99.72 % | 53.42 % (avg) | +46.3 pp |
| Operating Margin | 89.88 % | industry median | +90.3 pp |
| EBITDA Margin | 272.50 % | 2.15 % (avg) | +270.4 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 National Mortgage Association Fannie Mae's Valuation vs Competitive Position
Valuation multiples vs the Miscellaneous Financial Services industry average (80 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Miscellaneous Financial Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 18.8x | - |
| EV / EBITDA | -47.8x | 15.3x | -63.1x |
| P/B | 0.4x | 3.1x | -2.7x |
| Return on Equity | 13.45 % | industry aggregate | 9.54 % |
| Return on Invested Capital | 0.63 % | 0.51 % (avg) | 0.12 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Federal National Mortgage Association Fannie Mae's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 7.90 % | -5.88 % | -10.31 % | 58.68 % | -33.18 % | 30.78 % | -2.91 % | -0.88 % |
| Operating Margin | 70.75 % | 66.08 % | 67.71 % | 79.81 % | 82.63 % | 84.74 % | 85.32 % | 88.37 % |
| Return on Invested Capital | 0.57 % | 0.49 % | 0.41 % | 0.70 % | 0.46 % | 0.62 % | 0.60 % | 0.61 % |
| 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 National Mortgage Association Fannie Mae's Strategic Group Map
Every company in Federal National Mortgage Association Fannie Mae's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Federal National Mortgage Association Fannie Mae is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Federal National Mortgage Association Fannie Mae's BCG Growth-Share Matrix
Relative market share (vs Federal National Mortgage Association Fannie Mae's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Federal National Mortgage Association Fannie Mae falls in the Dog quadrant: relative market share of 0.12x vs its largest competitor, in an industry growing revenue 3.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Federal National Mortgage Association Fannie Mae'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 |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,330 (see Industry Market Structure & Concentration above) |
| 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 National Mortgage Association Fannie Mae's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Federal National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae falls in the Low attractiveness / Medium strength cell: Harvest.
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 National Mortgage Association Fannie Mae'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
- Operating margin 90.3 points above the industry median.
- Return on equity 9.5 points above the industry aggregate.
Weaknesses
- Latest-quarter revenue run-rate is decelerating (-4.4% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.12x).
Opportunities
- A meaningful share of tracked competitors (72.70 %) show financial-distress signals, a possible opening to gain share.
Threats
- Losing revenue share to the broader industry (-6.3 points over the past year).
- Tracked peer group's revenue run-rate is broadly decelerating (-4.1% annualized).
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 National Mortgage Association Fannie Mae'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 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 |
| Federal Home Loan Bank Of Topeka | 1.91 | 54.96 | 10.55 |
| Federal Home Loan Bank Of San Francisco | 4.92 | 34.22 | 4.95 |
| Federal Home Loan Bank Of Pittsburgh | 9.07 | 97.26 | 9.85 |
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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 National Mortgage Association Fannie Mae'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 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 % |
| Federal Home Loan Bank Of Topeka | Q2 2026 | -13.2 % | -18.7 % |
| Federal Home Loan Bank Of San Francisco | Q2 2026 | -3.8 % | -1.1 % |
| Federal Home Loan Bank Of Pittsburgh | Q2 2026 | -8.2 % | -8.5 % |
| 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 National Mortgage Association Fannie Mae'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 National Mortgage Association Fannie Mae | Q1 2026 | - | - |
| Federal Home Loan Mortgage Corporation | Q2 2026 | - | - |
| Federal Agricultural Mortgage Corporation | Q2 2026 | -9.0 % | - |
| Federal Home Loan Bank Of Topeka | Q2 2026 | +9.4 % | -77.6 % |
| Federal Home Loan Bank Of San Francisco | Q2 2026 | +100.0 % | - |
| Federal Home Loan Bank Of Pittsburgh | Q2 2026 | +54.3 % | - |
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Federal National Mortgage Association Fannie Mae's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| 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% |
| Federal Home Loan Bank Of Topeka | 0.45% | 0.45% | 8.37% |
| Federal Home Loan Bank Of San Francisco | 0.52% | 0.52% | 5.11% |
| Federal Home Loan Bank Of Pittsburgh | 0.43% | 0.43% | 7.33% |
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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 National Mortgage Association Fannie Mae's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Federal National Mortgage Association Fannie Mae | 155.82 | 0.84 |
| Federal Home Loan Mortgage Corporation | - | 0.55 |
| Federal Agricultural Mortgage Corporation | 7.31 | 3.88 |
| Federal Home Loan Bank Of Topeka | - | - |
| Federal Home Loan Bank Of San Francisco | - | - |
| Federal Home Loan Bank Of Pittsburgh | - | - |
| PEERS AVERAGE | 1.23 | 0.65 |
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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.