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Also traded in: Argentina, Germany

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 : 2/10

vs
industry
vs
history
Cash-to-Debt 0.01
OTCPK:FNMA's Cash-to-Debt is ranked lower than
99% of the 1374 Companies
in the Global Specialty Finance industry.

( Industry Median: 1.22 vs. OTCPK:FNMA: 0.01 )
Ranked among companies with meaningful Cash-to-Debt only.
OTCPK:FNMA' s Cash-to-Debt Range Over the Past 10 Years
Min: 0  Med: 0.01 Max: 0.06
Current: 0.01
0
0.06
Debt-to-Equity 447.45
OTCPK:FNMA's Debt-to-Equity is ranked lower than
100% of the 1222 Companies
in the Global Specialty Finance industry.

( Industry Median: 0.72 vs. OTCPK:FNMA: 447.45 )
Ranked among companies with meaningful Debt-to-Equity only.
OTCPK:FNMA' s Debt-to-Equity Range Over the Past 10 Years
Min: -2176.81  Med: 29.79 Max: 15162.89
Current: 447.45
-2176.81
15162.89
Debt-to-EBITDA 130.14
OTCPK:FNMA's Debt-to-EBITDA is ranked lower than
100% of the 1236 Companies
in the Global Specialty Finance industry.

( Industry Median: 1.99 vs. OTCPK:FNMA: 130.14 )
Ranked among companies with meaningful Debt-to-EBITDA only.
OTCPK:FNMA' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0  Med: 0 Max: 130.14
Current: 130.14
0
130.14
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 : 2/10

vs
industry
vs
history
Net Margin % 20.31
OTCPK:FNMA's Net Margin % is ranked lower than
59% of the 1390 Companies
in the Global Specialty Finance industry.

( Industry Median: 23.34 vs. OTCPK:FNMA: 20.31 )
Ranked among companies with meaningful Net Margin % only.
OTCPK:FNMA' s Net Margin % Range Over the Past 10 Years
Min: -1583.48  Med: 51.97 Max: 511.96
Current: 20.31
-1583.48
511.96
ROE % -107.36
OTCPK:FNMA's ROE % is ranked lower than
100% of the 1390 Companies
in the Global Specialty Finance industry.

( Industry Median: 8.73 vs. OTCPK:FNMA: -107.36 )
Ranked among companies with meaningful ROE % only.
OTCPK:FNMA' s ROE % Range Over the Past 10 Years
Min: -543.48  Med: -16.87 Max: 109.18
Current: -107.36
-543.48
109.18
ROA % 0.16
OTCPK:FNMA's ROA % is ranked lower than
88% of the 1396 Companies
in the Global Specialty Finance industry.

( Industry Median: 0.90 vs. OTCPK:FNMA: 0.16 )
Ranked among companies with meaningful ROA % only.
OTCPK:FNMA' s ROA % Range Over the Past 10 Years
Min: -8.08  Med: 0.21 Max: 2.59
Current: 0.16
-8.08
2.59
3-Year Revenue Growth Rate 2.00
OTCPK:FNMA's 3-Year Revenue Growth Rate is ranked lower than
62% of the 1293 Companies
in the Global Specialty Finance industry.

( Industry Median: 4.30 vs. OTCPK:FNMA: 2.00 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
OTCPK:FNMA' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 11.15 Max: 61.3
Current: 2
0
61.3
3-Year EPS without NRI Growth Rate -80.60
OTCPK:FNMA's 3-Year EPS without NRI Growth Rate is ranked lower than
99% of the 1163 Companies
in the Global Specialty Finance industry.

( Industry Median: 4.80 vs. OTCPK:FNMA: -80.60 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
OTCPK:FNMA' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 11.95 Max: 65.5
Current: -80.6
0
65.5
GuruFocus has detected 1 Warning Sign with Fannie Mae OTCPK:FNMA.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» OTCPK:FNMA's 30-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

FNMA Guru Trades in

Q2 2016

FNMA Guru Trades in Q2 2016

Ruane Cunniff 1,651,820 sh (unchged)
Fairholme Fund Sold Out
» More
Q3 2016

FNMA Guru Trades in Q3 2016

Ruane Cunniff 1,651,820 sh (unchged)
» More
Q4 2016

FNMA Guru Trades in Q4 2016

Ruane Cunniff Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with OTCPK:FNMA

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

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Preferred stocks of Fannie Mae

SymbolPriceYieldDescription
FNMAT.PFD5.380.008.25% Non-Cum Pfd Shs Ser T
FNMAI.PFD4.750.00Non Cum Pfd Shs Series Q
FNMFM.PFD8.510.005.10 % Pfd Shs Series -E-
FNMAL.PFD8.750.004.75% NonCumulative Preferred Stock, Series M
FNMAP.PFD8.750.00Variable Rate NonCumulative Preferred Stock, Series F
FNMAG.PFD8.900.005.375% NonCumulative Preferred Stock, Series I
FNMAM.PFD9.100.005.81% NonCumulative Preferred Stock, Series H
FNMFN.PFD9.000.00Var Rate Non-Cum Pfd Shs Series -O-
FNMAH.PFD4.400.00Pfd Shs Ser P
FNMAJ.PFD5.000.00Series R
FNMAS.PFD5.520.00Pfd Shs Ser S
FNMAO.PFD8.800.00Variable Rate NonCumulative Preferred Stock, Series G
FNMAN.PFD8.900.005.125% NonCumulative Preferred Stock, Series L
FDDXD.PFD9.800.005 1/4 % Perp Pfd Shs Series -D-
FNMAK.PFD8.750.005.50% NonCumulative Preferred Stock, Series N
FNMFO.PFD16500.000.005 3/8 % Conv Pfd Shs Series 2004-I

Business Description

Industry: Banks » Specialty Finance    NAICS: 522294    SIC: 6111
Compare:XKLS:1171, NYSE:NSM, NYSE:WD, LSE:PAG, HKSE:00056, TSX:FN, NYSE:TRTX, NYSE:KREF, NYSE:HTGC, OTCPK:FMCC, TSX:HCG, BOM:511196, NYSE:GSBD, OSTO:HOFI, TSE:8508, TSX:EQB, BOM:523756, NYSE:OCN, NYSE:PFSI, TSE:7198 » details
Traded in other countries:FNMA.Argentina, FNM.Germany,
Headquarter Location:USA
Fannie Mae acts as a source of financing for mortgage lenders. It focuses on buying mortgage and mortgage securities for its own portfolio and guaranteeing payment of securities backed by conforming mortgage loans.

Fannie Mae is the nonbank financial services company. Its objective is to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing for all Americans. The company operates in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities, from mortgage market institutions, such as commercial banks, savings and loan associations, mortgage banking companies, securities dealers and other investors. It has three business segments namely Single-Family Credit Guaranty, Multifamily and Capital Markets. Most of the revenue is derived from guaranty fees, transaction fees, and credit enhancement fees through the mortgage loans.

Guru Investment Theses on Fannie Mae

Bruce Berkowitz Comments on Fannie Mae and Freddie Mac - Aug 01, 2018

We remain confident in our preferred equity ownership. For evidence, look no further than the latest developments.



Last month, the White House released a paper advocating for a series of government reforms, including ending the conservatorship of Fannie and Freddie, with the goal for these mission critical institutions to remain shareholder-owned. Secretary Mnuchin believes 2019 is the year to resolve remaining issues.



This month, the Fifth Circuit Court of Appeals ruled that the Federal Housing Finance Agency (FHFA), Fannie and Freddie’s conservator, is unconstitutionally structured, as the court concluded that a variety of factors unlawfully sheltered the FHFA from presidential oversight. Although the Net Worth Sweep was not vacated, this is a positive development for shareholders, as it increases the odds of further review by the en banc Fifth Circuit, the Supreme Court, or both. However, by a two-to-one vote, the Fifth Circuit rejected the plaintiffs’ argument that the FHFA exceeded its statutory authority under HERA and that the Net Worth Sweep agreement violated the Administrative Procedure Act. Judge Don Willett, the lone dissenter, provided a powerful and highly persuasive dissent concluding that “the net worth sweep strips the GSEs of their capital reserves, and it isthus antithetical to the FHFA’s statutory command that it ‘preserve and conserve the assets and property’ of the GSEs”. When acting as conservator, HERA does not authorize the FHFA “to bleed the GSEs profits in perpetuity.” We agree and the Eighth Circuit, which has yet to rule on Saxton v.FHFA, was notified of Judge Willett’s sound analysis.



Meanwhile, Fannie (FNMA) and Freddie continue to report strong quarterly profits, highlighting the strength of the core operating franchises. Had the Net Worth Sweep never been implemented, Fannie and Freddie would have retained earnings well over $100 billion, which highlights how quickly capital can be restored. Trading at approximately one-quarter of their intrinsic value, we continue to view the preferred shares as an excellent investment.



From Bruce Berkowitz (Trades, Portfolio)'s second quarter 2018 Fairholme Fund (Trades, Portfolio) shareholder letter.

Check out Bruce Berkowitz latest stock trades

Bruce Berkowitz Comments on Fannie Mae and Freddie Mac - Feb 05, 2018

Fannie (FNMA) and Freddie have helped tens of millions of Americans secure affordable, predictable mortgages to help achieve the dream of financial independence while operating under the conservatorship of the Federal Housing Finance Agency (“FHFA”). Since 2012, Fannie and Freddie have shipped the entirety of their profits—$275 billion and counting—to the U.S. Treasury. You’ve heard this all before. The point is, with hundreds of billions in profits flowing to the federal government, there is no doubt about Fannie and Freddie’s earnings power or their ability to serve the public and survive. That is why reform is coming. In a letter to the Senate this month, FHFA Director Mel Watt re-emphasized that “ongoing conservatorship is not sustainable and needs to end.” He believes Fannie and Freddie should be public utilities with regulated rates of return. We agree. Treasury Secretary Steve Mnuchin tells us 2018 is the year for Fannie and Freddie reform. “We need to fix Fannie and Freddie,” Mnuchin said in September. “[…] we’re going to fix [them] and when we fix [them] we want to make sure we never put the taxpayers at risk.” We also agree Fannie and Freddie must be returned to their private owners. So far, the Funds have realized $140 million of gains from Fannie and Freddie investments over the past four years. I would expect further gains from any Trump Administration-led initiative.

From Bruce Berkowitz (Trades, Portfolio)'s Fairholme Fund (Trades, Portfolio) fourth quarter 2017 shareholder letter.

Check out Bruce Berkowitz latest stock trades

Top Ranked Articles about Fannie Mae

Fannie Mae Names Former Compass Bank Chairman & CEO and Banking and Financial Services Expert Manuel "Manolo" Sánchez Rodríguez to the Board of Directors
3 Companies Warren Buffett Turned Down During the Financial Crisis What the investor didn't do and why
Warren Buffett (Trades, Portfolio)’s charmed deals with financial institutions in turmoil like Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) during the financial crisis are well-documented. But as markets swooned and executives of troubled companies dialed his number in 2008, Buffett also turned down many offers that might not have panned out so well, including with Lehman Brothers, AIG (NYSE:AIG), and Fannie Mae and Freddie Mac. Read more...
Why Warren Buffett Sold Fannie Mae and Freddie Mac Years Before the Financial Crisis Buffett was once Freddie Mac's largest shareholder but was turned off
Though he declined to help bail them out when they neared failure, Warren Buffett (Trades, Portfolio) at one point owned shares of two of the entities at the epicenter of the financial earthquake that shook markets in 2007 and 2008, Fannie Mae (FNMA) and Freddie Mac. His discussion of why he disposed of the holdings also provides insight into his thinking on investments in financials. Read more...
Fannie Mae Announces the Results of its Eighth Reperforming Loan Sale Transaction
Fannie Mae Announces Sale of Non-Performing Loans
Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Areas Affected by Hurricane Florence
Fannie Mae Completes First Credit Insurance Risk Transfer Transaction of 2018 on over $11 Billion of Multifamily Loans
Fannie Mae Releases July 2018 Monthly Summary
Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Areas Affected by Hurricane Lane
Fannie Mae Announces Eighth Sale of Reperforming Loans

Ratios

vs
industry
vs
history
Price-to-Owner-Earnings 0.36
FNMA's Price-to-Owner-Earnings is ranked higher than
99% of the 813 Companies
in the Global Specialty Finance industry.

( Industry Median: 15.15 vs. FNMA: 0.36 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
FNMA' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 0.04  Med: 0.26 Max: 1.31
Current: 0.36
0.04
1.31
PS Ratio 0.33
FNMA's PS Ratio is ranked higher than
98% of the 1373 Companies
in the Global Specialty Finance industry.

( Industry Median: 3.41 vs. FNMA: 0.33 )
Ranked among companies with meaningful PS Ratio only.
FNMA' s PS Ratio Range Over the Past 10 Years
Min: 0.05  Med: 0.53 Max: 12.47
Current: 0.33
0.05
12.47
Price-to-Free-Cash-Flow 0.84
FNMA's Price-to-Free-Cash-Flow is ranked higher than
96% of the 754 Companies
in the Global Specialty Finance industry.

( Industry Median: 12.61 vs. FNMA: 0.84 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
FNMA' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 0.01  Med: 0.4 Max: 8.82
Current: 0.84
0.01
8.82
Price-to-Operating-Cash-Flow 0.84
FNMA's Price-to-Operating-Cash-Flow is ranked higher than
95% of the 803 Companies
in the Global Specialty Finance industry.

( Industry Median: 11.07 vs. FNMA: 0.84 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
FNMA' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 0.01  Med: 0.4 Max: 8.82
Current: 0.84
0.01
8.82
EV-to-Revenue 134.85
FNMA's EV-to-Revenue is ranked lower than
100% of the 1151 Companies
in the Global Specialty Finance industry.

( Industry Median: 4.50 vs. FNMA: 134.85 )
Ranked among companies with meaningful EV-to-Revenue only.
FNMA' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.5  Med: 155.5 Max: 2267.6
Current: 134.85
0.5
2267.6

Buy Back

vs
industry
vs
history

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 0.20
FNMA's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
93% of the 867 Companies
in the Global Specialty Finance industry.

( Industry Median: 0.82 vs. FNMA: 0.20 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
FNMA' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.01  Med: 0.5 Max: 5.29
Current: 0.2
0.01
5.29
Price-to-Median-PS-Value 0.64
FNMA's Price-to-Median-PS-Value is ranked higher than
91% of the 1305 Companies
in the Global Specialty Finance industry.

( Industry Median: 1.11 vs. FNMA: 0.64 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
FNMA' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.14  Med: 9.7 Max: 50.07
Current: 0.64
0.14
50.07

More Statistics

Revenue (TTM) (Mil) $25,645.00
EPS (TTM) $ -0.56
Beta1.89
Volatility38.00%
52-Week Range $1.21 - 3.31
Shares Outstanding (Mil)1,158.09

Piotroski F-Score Details

Piotroski F-Score: ----
Positive ROAN
Positive CFROAN
Higher ROA yoyN
CFROA > ROAN
Lower Leverage yoyN
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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