This ranking evaluates how Fortune 500 companies are deploying AI, and how technology leaders value those investments relative to industry peers.

Fortune AIQ 75

The companies on the Global 500 employ 70.2 million people, and their revenue represents more than one-third of the world’s GDP.

Fortune Global 500

With a combined revenue of $21 trillion and $2.1 trillion in profits, the 2026 Fortune 500 is the definitive list of America's largest companies.

Fortune 500

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

Industries included in the sector are banks, insurance, and real estate companies.

Fortune Sector Leaders: Financials

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500-2023-045-Freddie-Mac

Freddie Mac, shorthand for the Federal Home Loan Mortgage Corp., jumped 11 spots on this year’s Fortune 500. The government-backed enterprise provides liquidity to the housing market through its purchase of home mortgages from small banks and credit unions, among other lenders. From there, Freddie Mac (like Fannie Mae) holds on to these mortgages or packages the loans into mortgage-backed securities that can be sold. 
<ul> 
 	<li>Freddie Mac raked in $86.7 billion in revenue in 2022, a nearly 32% increase from the previous year.</li> 
 	<li>The company had a shaky start to 2023: In the first quarter, it reported revenue of $4.8 billion, down 17% year over year, and net income of $2 billion, which represents a 47% decline from 2021. Overall, its new business activity in the first quarter of 2023 was down 72% year over year, as higher mortgage rates slowed home sales and refinancing.</li> 
 	<li>In 2022, Freddie Mac financed 1.8 million mortgages (with 58% of eligible loans affordable for low- and moderate-income families) and 693,000 rental units (with 96% of eligible units affordable for low- and moderate-income families).</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

This year’s Fortune 500 marks the 68th running of the list.

F500 2022-Freddie Mac

The government-backed mortgage provider had an eventful year as the U.S. housing market entered uncharted territory in 2021. Between a historically low inventory of homes for sale and soaring demand, Freddie Mac—which buys and securitizes mortgages issued by commercial lenders—was still able to help nearly 5 million families buy, refinance, or rent their homes in 2021, helping keep interest rates lower.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 141 Freddie Mac

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;Like its sister government-backed entity, Fannie Mae, Freddie Mac played a major role in ensuring the U.S. housing market continued to function amid an unprecedented pandemic. The company provided approximately $1.2 trillion in liquidity to the mortgage market in 2020, in the process financing nearly 3.8 million single-family home loans—including 2.7 million refinancings that enabled homeowners to capitalize on record-low interest rates. While the pandemic contributed to a nearly 12% drop in Freddie’s revenues last year, profits remained resilient and climbed nearly 2% in 2020.&quot;}" data-sheets-userformat="{&quot;2&quot;:12673,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:2,&quot;11&quot;:4,&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11}">Like its sister government-backed entity, Fannie Mae, Freddie Mac played a major role in ensuring the U.S. housing market continued to function amid an unprecedented pandemic. The company provided approximately $1.2 trillion in liquidity to the mortgage market in 2020, in the process financing nearly 3.8 million single-family home loans—including 2.7 million refinancings that enabled homeowners to capitalize on record-low interest rates. While the pandemic contributed to a nearly 12% drop in Freddie’s revenues last year, profits remained resilient and climbed nearly 2% in 2020.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-47-FreddieMac

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-125-Freddia-Mac

Like Fannie Mae, Freddie Mac is still government controlled. Also like Fannie, it saw a steep decline in profits last year, which were down 22%, even as the lender's top line grew more than 2%. The financials don’t tell the whole story, however. Freddie plays an outsized role in helping millions of Americans own or rent a home, providing nearly $558 billion in liquidity to the mortgage market last year. In 2019, it served nearly 95% of all single-family home lenders in the country—and it's seeing growth with younger families and couples. First-time home buyers represented nearly half of Freddie’s new single-family purchase loans last year.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-041-Freddie-Mac

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Freddie Mac is a government-backed enterprise established to provide the U.S. housing market with liquidity, stability, and affordability. It pools mortgages that it buys from lenders and sells them to investors as mortgage-backed securities. This process increases the funds available for mortgage lending, which in turn supports new home purchases. Freddie Mac provides competition to—and serves a similar purpose as—Fannie Mae.

Q2 2026

Q1 2026

Q4 2025

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Freddie Mac (FMCC): Company Profile, Stock Price, News, Rankings

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Freddie Mac

freddie mac

Good morning and thanks for joining us for a presentation of Freddie Mac's First quarter 2026 financial results. I'm Fred Solomon, Director of Financial Communications. We are joined today by Executive Vice President and Chief Financial Officer Jim Whitlinger. Before we begin, we'd like to point out that during the call, Mr. Whitlinger may make forward-looking statements based on assumptions about the company's key business drivers and other factors. Changes in these factors could cause the company's actual results to materially vary from its expectations. A description of those factors can be found in the company's quarterly report on Form 10-Q filed today. You will find the 10-Q earnings press release and related materials posted on the investor relations section of freddiemac.com. This call is recorded and a replay will soon be available on freddiemac.com. We ask that this call not be rebroadcast or transcribed.

With that, I'll turn the call over to Freddie Mac CFO Jim Whitlinger.

Good morning, and thank you for joining our call to review Freddie Mac's first quarter financial results. To help you follow along, we've published a financial supplement and earnings presentation this quarter, which I'll reference throughout today's remarks. As you can see on slide two of today's presentation, Freddie Mac kicked off 2026 with a strong quarter. We earned $3.6 billion of net income, bringing our net worth to nearly $74 billion. The total mortgage portfolio increased to $3.7 trillion as we provided $116 billion of liquidity to U.S. housing. Freddie Mac's support during the quarter helped 380,000 families buy, refinance, or rent a home. The majority of the houses and apartments we financed in the quarter were affordable to working families earning 120% or less of area median income.

These included 93% of eligible rental units and 52% of single-family homes. Of the home buyers purchasing a primary residence, 52% were first-time homeowners. Digging in just a little deeper on affordability, I'll note that we acquired more than twice as many refinance loans as we did just a year ago. This was in large part due to a comparatively lower interest rates. In fact, the past two quarters, we've helped nearly 100,000 more households refinance than in the same two quarters a year back. This isn't just a statistic; it's one way we're addressing the kitchen table issues Americans care about. Each of those loans potentially represents a lower mortgage payment, the retirement of higher cost debt or improvements to accommodate a growing family in an existing home.

It's an important part of our mission, and we're proud to support the country in this way. Now let's look at the quarterly financial results that make our work possible. I'll begin with our first quarter 2026 results, followed by an overview of our Single-Family and Multifamily segments' performance. I'll finish with an update on our net worth and regulatory capital. Let's start on slide three with our first quarter 2026 financial performance. We delivered net income of $3.6 billion, up 27% year-over-year, reflecting higher net revenues and a credit reserve release in the current period. These results demonstrate the earnings power of Freddie Mac.

We grew net revenues by 5% year-over-year to $6.1 billion, primarily driven by net interest income of $5.6 billion, which was up 10% from the prior-year quarter. This reflects continued growth in our mortgage portfolio, which increased 2% year-over-year and growth in the mortgage-related investments portfolio. Our net interest margin increased 5 basis points year-over-year to 65 basis points, reflecting the positive impact of our scale. We generated non-interest income of $514 million for the quarter, compared with $750 million in the first quarter 2025. This was primarily due to lower guarantee income and lower net investment gains, driven by the strategic shift in the Multifamily business model as well as losses from debt extinguishments during the quarter.

We recorded a $320 million benefit for credit reserves in the quarter, compared with a $280 million provision expense in the prior-year quarter. The benefit resulted from a Single-Family reserve release, reflecting changes in the company's views of forecasted house price growth. By comparison, the first quarter of 2025 provision primarily reflected a reserve build in Single-Family associated with new acquisitions. Our first quarter non-interest expense was $2 billion, down 3% year-over-year, driven by a decrease in salaries and employee benefits and lower credit enhancement expense. We grew our total mortgage portfolio to $3.7 trillion as of March 31st, driven by 1% and 7% increases in our Single-Family and Multifamily portfolios, respectively, year-over-year.

Turning to Single-Family results on slide four of our earnings presentation, the segment reported strong first quarter net income of $3 billion. The 32% year-over-year increase reflected strong net revenues. Segment net revenues increased to $5.2 billion, up 5% year-over-year. This was primarily driven by an 8% increase in net interest income from continued mortgage portfolio growth and growth in the mortgage-related investments portfolio. We recorded a $311 million benefit for credit reserves in the quarter, compared with a $228 million provision expense in the first quarter of 2025. Once again, this benefit is related to changes in the company's views of forecasted house price growth rates.

House prices rose by 0.1% during the first quarter 2026, compared with a 0.3% increase in the first quarter of 2025. Our current forecast assumes house prices will grow by 2.3% over the next 12 months and 2.4% over the subsequent 12 months. This was more than our December 2025 forecast, which projected increases of 0.5% and 1.4% respectively. In contrast, the first quarter 2025 provision was mainly due to a reserve build associated with new acquisitions. The Single-Family allowance for credit losses coverage ratio was 22 basis points at the end of first quarter 2026. This was up 1 basis point year-over-year and down 1 basis point quarter-over-quarter.

Net charge-offs for the quarter totaled $118 million compared with $164 million in the prior-year quarter. Our Single-Family portfolio credit characteristics remain strong with a weighted average current loan-to-value ratio of 53% and a weighted average credit score of 753. The Single-Family serious delinquency rate was 60 basis points as of March 31st, 2026. That was a 1 basis point increase over the prior year and prior quarter. Freddie Mac continued to be the leading player in the Single-Family market with 51% of total GSE market share for the quarter. During the first quarter 2026, we had $103 billion of new business, driven by strength and refinance activity. Refinance loans accounted for 42% of total volume, the highest quarterly refinance share we have seen in the past four years.

Mortgage rates ended the quarter at 6.38%, up from 6.15% at year-end. During the quarter, they fell to 5.98%—the first time below 6% since 2022. As you can see on slide 5, the credit profile of our Single-Family business remains strong as well, with an average estimated loan-to-value ratio of 75%, down 2 percentage points year-over-year. The weighted average credit score was 758 as of March 31st, up 2 points from a year ago. The weighted average DTI ratio trend also improved year-over-year. These indicators reinforce the quality of our new book. During the first quarter 2026, we helped approximately 24,000 families remain in their homes through loan workouts

At the end of the first quarter, 62% of our Single-Family portfolio had some form of credit enhancement. Turning to Multifamily results on slide six, the segment delivered first quarter 2026 net income of $582 million, up 9% year-over-year. The increase was supported by higher net revenues and a slight benefit for credit losses in the quarter versus a provision expense in the prior-year quarter. First quarter net revenues increased 3% year-over-year to $1 billion, benefiting from higher net interest income. Net interest income increased 43%, driven by higher guarantee fee income as our business strategy shifted towards fully guaranteed securitizations. This increase in net interest income was offset by a 22% decline in non-interest income as the revenue mix shifted in line with the business strategy change.

On the credit side, we recorded a $9 million benefit for credit reserve for the quarter compared with a $52 million expense in the first quarter 2025. The Multifamily allowance for credit losses coverage ratio was 42 basis points at the end of first quarter 2026, compared with 46 basis points for the fourth quarter 2025 and 49 basis points for first quarter 2025. Net charge-offs totaled $63 million in the first quarter. Total Multifamily new business activity reached $13 billion in the first quarter of 2026. That was an increase of 25% from the prior year, driven by strong demand for Multifamily financing. Approximately 66% of this activity in the first quarter, based on unpaid principal balance, was mission-driven affordable housing. During the first quarter 2026, we securitized $24 billion of loans.

Nearly all of those loans were fully guaranteed securitizations in line with our business strategy change, marking a more than twofold increase year-over-year. The average guarantee fee rate on our total guarantee exposures increased to 58 basis points for the quarter, up 6 basis points from the prior year. This increase was primarily due to continued growth in our fully guaranteed securitization issuances, for which we charge higher guarantee fee rates. Our Multifamily mortgage portfolio at the end of the first quarter 2026 was $498 billion, an increase of 7% year-over-year. The Multifamily delinquency rate at the end of the first quarter was 43 basis points. This was down compared with 46 basis points at the end of first quarter 2025 and 44 basis points last quarter.

A 94% of the delinquent loans in the Multifamily mortgage portfolio had credit enhancement coverage, reducing our credit exposure. At the end of the first quarter, 91% of the Multifamily mortgage portfolio was covered by credit enhancements. As shown on slide seven of our earnings presentation, we delivered strong net worth growth, ending the quarter at $74 billion, up 18% year-over-year and further strengthening our capital position. This continued capital build enhances our resilience and long-term capacity to support the market. Under our regulatory capital rule, total capital required at quarter end was $161 billion, including $60 billion of stress and stability buffers. We continue to make progress reducing the capital deficit, which has come down $37 billion since the end of 2022.

Excluding buffers, our capital shortfall was $105 billion at the end of the first quarter, largely because the $73 billion of Senior Preferred Stock does not qualify as regulatory capital. Before I close, I'll mention that last week, Freddie Mac became the first GSE to take loans from acquisition to securitization with VantageScore 4.0. The addition of a credit scoring alternative for qualified mortgages is intended to promote robust competition, which can benefit consumers, lenders, and the broader housing market. This is one more way we're responsibly driving efficiencies across the housing finance system. In conclusion, it was a very good start to the year for Freddie Mac. With an additional $3.5 billion added to our net worth and a more streamlined, efficient organization, we continue to strengthen our company for the future. Thank you for joining us today.

Freddie Mac (FMCC) Q1 2026 Earnings Call Transcript

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