Fannie Mae reported solid profitability in Q4 2025, with net income of $3.5 billion, driven by stable revenues and effective long-term risk management. The company achieved a record net worth of $109.0 billion, reflecting its strong financial footing and strategic focus on mission fulfillment.
Net worth grew to a record $109.0 billion at the end of 2025, up $14.4 billion from the prior year.
positiveAnnual administrative expenses were reduced by $141 million from 2024, with a $40 million reduction in administrative expenses.
positiveNet revenues were stable on a quarterly and annual basis at $7.3 billion and $29.0 billion, respectively.
neutralAchieved 14 straight years of annual profitability, reflecting effective long-term risk management.
positiveNet income for full-year 2025 decreased by $2.6 billion to $14.4 billion, primarily driven by a $1.8 billion shift from a benefit for credit losses in 2024 to a provision for credit losses in 2025.
negativeFair value gains (losses), net decreased significantly by $1.7 billion in 2025 compared to 2024.
negativeNet income in Q4 2025 decreased by $332 million (9%) to $3.5 billion compared to $3.9 billion in Q3 2025, driven by changes in fair value, lower investment gains, and higher administrative expenses.
negativeSingle-family serious delinquency rate increased to 0.58% as of Dec. 31, 2025, from 0.54% as of Sep. 30, 2025.
attentionMultifamily serious delinquency rate increased to 0.74% as of Dec. 31, 2025, from 0.68% as of Sep. 30, 2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Single-Family | N/A | — | — | — |
Multifamily | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Fannie Mae’s financial footing is stronger than ever, hitting a record level $109 billion net worth.
For the first time in four years we reduced annual administrative expenses, positioning the company for long-term success.
Fannie Mae’s 14 straight years of annual profitability reflect the strength of our business, the dedication of our employees, and the partnership of the institutions we serve.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.