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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash to Debt 0.01
FNMA's Cash to Debt is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.01 )
FNMA' s 10-Year Cash to Debt Range
Min: 0   Max: No Debt
Current: 0.01

Interest Coverage 0.41
FNMA's Interest Coverage is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.41 )
FNMA' s 10-Year Interest Coverage Range
Min: 0.11   Max: 0.41
Current: 0.41

0.11
0.41
F-Score: 4
Z-Score: 0.09
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 111.02
FNMA's Operating margin (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 111.02 )
FNMA' s 10-Year Operating margin (%) Range
Min: -1730.02   Max: 381.3
Current: 111.02

-1730.02
381.3
Net-margin (%) 85.34
FNMA's Net-margin (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 85.34 )
FNMA' s 10-Year Net-margin (%) Range
Min: -1705.43   Max: 502.24
Current: 85.34

-1705.43
502.24
ROE (%) 249.74
FNMA's ROE (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 249.74 )
FNMA' s 10-Year ROE (%) Range
Min: -409.15   Max: 1346.15
Current: 249.74

-409.15
1346.15
ROA (%) 0.74
FNMA's ROA (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.74 )
FNMA' s 10-Year ROA (%) Range
Min: -8.08   Max: 2.59
Current: 0.74

-8.08
2.59
ROC (Joel Greenblatt) (%) 277.03
FNMA's ROC (Joel Greenblatt) (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 277.03 )
FNMA' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -27.93   Max: 348.86
Current: 277.03

-27.93
348.86
Revenue Growth (%) 23.40
FNMA's Revenue Growth (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 23.40 )
FNMA' s 10-Year Revenue Growth (%) Range
Min: -60.1   Max: 64.9
Current: 23.4

-60.1
64.9
EPS Growth (%) -59.70
FNMA's EPS Growth (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: -59.70 )
FNMA' s 10-Year EPS Growth (%) Range
Min: -59.7   Max: 22.6
Current: -59.7

-59.7
22.6
» FNMA's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

FNMA Guru Trades in Q4 2013

Fairholme Fund Sold Out
» More
Q4 2013

FNMA Guru Trades in Q4 2013

Bruce Berkowitz 25,990,900 sh (New)
Fairholme Fund 20,485,300 sh (New)
» More
Q1 2014

FNMA Guru Trades in Q1 2014

Fairholme Fund 20,485,300 sh (unchged)
Bruce Berkowitz 19,162,900 sh (-26.27%)
» More
Q2 2014

FNMA Guru Trades in Q2 2014

Bruce Berkowitz 20,645,300 sh (+7.74%)
Fairholme Fund 13,657,300 sh (-33.33%)
» More
» Details

Insider Trades

Latest Guru Trades with FNMA

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Bruce Berkowitz 2014-03-31 Reduce -26.27%0.21%$2.83 - $5.82 $ 3.15-10%19162900
Bruce Berkowitz 2013-12-31 New Buy0.81%$1.48 - $3.3 $ 3.1531%25990900
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Preferred stocks of Fannie Mae

SymbolPriceYieldDescription
FNMAT13.500.00
FNMAI8.750.00
FNMFM16.500.005.10 % Pfd Shs Series -E-
FNMAL17.000.004.75% NonCumulative Preferred Stock, Series M
FNMAP16.550.00Variable Rate NonCumulative Preferred Stock, Series F
FNMAG16.450.005.375% NonCumulative Preferred Stock, Series I
FNMAM16.500.005.81% NonCumulative Preferred Stock, Series H
FNMFN17.350.00
FNMAH8.020.00
FNMAJ8.840.00
FNMAS10.350.00
FNMAO16.240.00Variable Rate NonCumulative Preferred Stock, Series G
FDDXD20.040.00

Guru Investment Theses on Fannie Mae

Bruce Berkowitz Comments on Fannie Mae and Freddie Mac - Feb 10, 2014

Two of our best performers during the period were Fannie Mae (FNMA) and Freddie Mac. Both are absolutely essential for uniquely- a merican, affordable mortgages. If you disagree, try getting a 30-year, sub-5% mortgage outside of the United States. In 2008, both companies agreed to U.S. conservatorship and extraordinarily harsh terms and conditions during a time of global crisis. The plan worked. Fannie and Freddie saved the day, repaid nearly every penny of cash received from the u . s . Treasury, and can look forward to resuming a prosperous future based just on the aging of assets held. However, many believe Fannie and Freddie will be victims of a government-sponsored expropriation that brings our country closer to a future conceived by George Orwell in his novel, 1984 . We disagree



From Bruce Berkowitz (Trades, Portfolio)'s fourth quarter shareholder letter.

Check out Bruce Berkowitz latest stock trades

Top Ranked Articles about Fannie Mae

Bruce Berkowitz Comments on Fannie Mae and Freddie Mac
Fannie Mae (FNMA) and Freddie Mac (FMCC) preferred stocks and common shares constitute approximately 15% of the Fund’s portfolio. We believe that the two companies may be the most important financial institutions in the United States – perhaps the world – and directly support housing affordability and accessibility, including the uniquely American 30-year fixed-rate mortgage. They are a major reason why our country did not enter a second Great Depression, and are proving to be the most successful taxpayer investments of the Great Recession. Read more...
Carl Icahn Buys Fannie Mae, Freddie Mac from Bruce Berkowitz
In the pattern of Bruce Berkowitz (Trades, Portfolio), Bill Ackman (Trades, Portfolio) and Richard Perry (Trades, Portfolio), corporate activist Carl Icahn (Trades, Portfolio) has purchased shares of Fannie Mae (FNMA) and Freddie Mac (FMCC), according to court documents released today. Three of Icahn’s funds in March purchased the shares Read more...
Bruce Berkowitz Leads Returns for First Quarter with Bet on Fannie Mae, Freddie Mac
Bruce Berkowitz (Trades, Portfolio) still has almost 42% of his Fairholme Fund (Trades, Portfolio) (FAIRX) in American International Group Inc. (AIG), a holdover from his massive bet on U.S. financials post-economic crisis. As of year-end, he also holds massive stakes in his new venture, national home mortgage entities Fannie Mae (FNMA) (20 million common shares and 66 million preferred shares) and Freddie Mac (FMCC) (52 million preferred shares). The average gain of the new positions is the highest of all investors tracked by GuruFocus over the past six months, beating out those of Robert Karr (Trades, Read more...
Bruce Berkowitz Comments on Fannie Mae and Freddie Mac
Two of our best performers during the period were Fannie Mae (FNMA) and Freddie Mac. Both are absolutely essential for uniquely- a merican, affordable mortgages. If you disagree, try getting a 30-year, sub-5% mortgage outside of the United States. In 2008, both companies agreed to U.S. conservatorship and extraordinarily harsh terms and conditions during a time of global crisis. The plan worked. Fannie and Freddie saved the day, repaid nearly every penny of cash received from the u . s . Treasury, and can look forward to resuming a prosperous future based just on the aging of assets held. However, many believe Fannie and Freddie will be victims of a government-sponsored expropriation that brings our country closer to a future conceived by George Orwell in his novel, 1984 . We disagree Read more...
Bruce Berkowitz Fannie Mae Drama Continues, with Small Victory
Bruce Berkowitz has provided much of the drama in the investing world for the past five years, as he sunk stomach-churning amounts of money into one dubious-looking asset after another. Yet the investor always seems to greet monumental risk with perfect aplomb. Probably because he is so well informed and his theses are so airtight that there does not seem to be any risk involved for him at all, and once he takes a position, he merely watches events unfold according to plan. Most recently, he revealed an investment in another Berkowitz-esque asset – the companies at the epicenter of the 2008 financial crisis, housing mortgage institutions Fannie Mae and Freddie Mac. This project also involves and largely hinges on him suing the U.S. government. So far so good. Read more...

Ratios

vs
industry
vs
history
P/S 0.60
FNMA's P/S is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.60 )
FNMA' s 10-Year P/S Range
Min: 0.05   Max: 31.19
Current: 0.6

0.05
31.19
PFCF 1.60
FNMA's PFCF is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 1.60 )
FNMA' s 10-Year PFCF Range
Min: 0.01   Max: 2.35
Current: 1.6

0.01
2.35
EV-to-EBIT 105.54
FNMA's EV-to-EBIT is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 105.54 )
FNMA' s 10-Year EV-to-EBIT Range
Min: 87.5   Max: 9471.5
Current: 105.54

87.5
9471.5

Valuation & Return

vs
industry
vs
history
Price/Median PS Value 0.79
FNMA's Price/Median PS Value is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.79 )
FNMA' s 10-Year Price/Median PS Value Range
Min: 0.09   Max: 32.11
Current: 0.79

0.09
32.11
Price/Graham Number 0.06
FNMA's Price/Graham Number is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.06 )
FNMA' s 10-Year Price/Graham Number Range
Min: 0.01   Max: 2.19
Current: 0.06

0.01
2.19
Earnings Yield (Greenblatt) 0.90
FNMA's Earnings Yield (Greenblatt) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 0.90 )
FNMA' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 1.1
Current: 0.9

0.1
1.1
Forward Rate of Return (Yacktman) 277.41
FNMA's Forward Rate of Return (Yacktman) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. FNMA: 277.41 )
FNMA' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 26.2   Max: 14462.7
Current: 277.41

26.2
14462.7

Business Description

Industry: »
Compare: » details
Fannie Mae is a government-sponsored enterprise that was chartered by Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold. The company has three business segments for management reporting purposes: Single-Family Credit Guaranty, Multifamily, and Capital Markets. Its Single-Family business works with its lender customers to provide funds to the mortgage market by securitizing single-family mortgage loans into Fannie Mae MBS. Its Single-Family business also works with its Capital Markets group to facilitate the purchase of single-family mortgage loans for its mortgage portfolio. Its Single-Family business has primary responsibility for pricing and managing the credit risk on its single-family guaranty book of business, which consists of single-family mortgage loans underlying Fannie Mae MBS and single-family loans held in its mortgage portfolio. Its multifamily business works with its lender customers to provide funds to the mortgage market by securitizing multifamily mortgage loans into Fannie Mae MBS. Through its multifamily business, it provide liquidity and support to the U.S. multifamily housing market principally by securitizing or purchasing loans that finance multifamily rental housing properties. It also provides some limited debt financing for other construction and rehabilitation activity related to projects that complement this business. Its multifamily business also works with its Capital Markets group to facilitate the purchase and securitization of multifamily mortgage loans and securities for Fannie Mae's portfolio, as well as to facilitate portfolio securitization and resecuritization activities. Its Capital Markets group manages its investment activity in mortgage-related assets and other interest-earning non-mortgage investments. It funds its investments primarily through proceeds it receive from the issuance of debt securities in the domestic and international capital markets. Its Capital Markets group has primary responsibility for managing the interest rate risk associated with its investments in mortgage assets.
» More Articles for FNMA

Headlines

Articles On GuruFocus.com
Bruce Berkowitz’s Fairholme Buys 7 New Stocks Sep 08 2014 
Fannie, Freddie Western Ruling Immaterial Sep 05 2014 
Hedge Fund Manager Bill Ackman with a Very Profitable Year Aug 28 2014 
Bruce Berkowitz Comments on Fannie Mae and Freddie Mac Aug 04 2014 
Fairholme Fund Second Quarter 2014 Shareholder Letter Aug 04 2014 
Fairholme Fund Second Quarter 2014 Shareholder Letter Aug 04 2014 
Carl Icahn Buys Fannie Mae, Freddie Mac from Bruce Berkowitz Jun 04 2014 
Bill Ackman Freddie Mac and Fannie Mae Ira Sohn Presentation May 06 2014 
Bill Ackman Interview: Forgiving Icahn, Valeant Merger, Fannie Mae and Freddie Mac May 05 2014 
Leon Cooperman Slashes Stake in PennyMac Financial Services Apr 02 2014 


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