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. 

Key Financials (last Fiscal Year)

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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

legacy

Freddie Mac

freddie mac

morning and thank you for joining us for a presentation of Freddie Mac's Fourth Quarter and Full Year twenty twenty four Financial Results. I'm Jeff Markowitz, SVP and Chief External Affairs Officer. We're joined today by our EVP 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 10 K filed today. You'll find the 10 K 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 the call not be rebroadcast or transcribed.

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

Good morning, and thank you for joining our call to review Freddie Mac's fourth quarter and full year financial results. 2024 was a solid year for Freddie Mac. We delivered our strongest earnings since 2021. Our net worth reached nearly $60,000,000,000 and we continued to employ strategies that help families stay in their homes and enhance Freddie Mac safety and soundness. Overall, the strong financial performance and attention to risk management contributes to liquidity and stability in The U.

S. Housing finance system. We also continued to support other market participants. For example, last year alone, Freddie Mac acquired more than 1,000,000 loans from over 1,000 lenders of all sizes across the country. We packaged those loans into mortgage backed securities or MBS that attracted investors from around the world to support U.

S. Housing. We purchased loans for cash and issued MBS totaling more than $411,000,000,000 in 2024, up 18% from 2023. The proceeds enabled Freddie Mac to help nearly 1,600,000 families buy, refinance or rent a home. Moreover, 52% of the primary home purchases we financed went to first time homebuyers and 53% of all home loans we financed were affordable to low and moderate income families as were 92% of all the apartment units we financed.

Now let's take a deeper look at the financial results making this possible. This morning, we reported full year net income of $11,900,000,000 an increase of 13% from the prior year and comprehensive income of $11,900,000,000 an increase of 11% from the prior year. These increases were primarily driven by higher net revenues, which were partially offset by a credit reserve build compared to a benefit for credit losses in the prior period in our single family business. Full year net revenues of $23,900,000,000 were up $2,700,000,000 or 13% year over year. Our twenty twenty four net interest income of $19,700,000,000 was up 6% year over year, primarily driven by continued mortgage portfolio growth, which rose 3% year over year and lower funding costs driven by our increase in net worth, which grew by 25% year over year.

Non interest income was $4,200,000,000 for full year 2024, up 55% year over year, primarily driven by higher revenues from held for sale loan purchase and securitization activities and lower realized losses on sales of available for sale securities and other net investment gains. Provision for credit losses was an expensive $500,000,000 for full year 2024, primarily driven by a credit reserve build in single family attributable to new acquisitions. Our non interest expenses were down 3% year over year to 8,700,000,000 as 2023 non interest expense included an expense accrual of $313,000,000 related to a previously reported adverse litigation judgment. Our total mortgage portfolio grew 3% year over year to $3,600,000,000,000 at the end of 2024, driven by a 2% increase in our single family mortgage portfolio and a 6% increase in our multifamily mortgage portfolio. Turning to our fourth quarter twenty twenty four results, we reported net income of $3,200,000,000 an increase of $3.00 $8,000,000 or 11% from the fourth quarter of twenty twenty three.

The increase in net income was primarily driven by higher revenues, which were partially offset by a credit reserve build in the single family business. Net revenue for the fourth quarter totaled $6,300,000,000 an increase of $956,000,000 or 18% year over year, driven by increases in both net interest income and non interest income. Fourth quarter net interest income of $5,100,000,000 was up 6% from the prior year quarter. The increase in net interest income was primarily driven by continued mortgage portfolio growth and lower funding costs due to increasing net worth. Non interest income for the fourth quarter was $1,300,000,000 an increase of $674,000,000 or 112% from the prior year quarter.

This increase was primarily driven by higher net investment gains. Provision for credit losses was an expense of $92,000,000 for the fourth quarter of twenty twenty four compared to a benefit for credit losses of $467,000,000 for the fourth quarter of twenty twenty three. The credit loss provision expense this quarter was primarily driven by reserve build in both of our business segments, primarily attributable to new acquisitions, while in the prior year quarter, it was driven by credit reserve release in our single family business due to an improvement in house prices. Turning to our individual business segments, single family reported full year net income of $9,400,000,000 an increase of $318,000,000 or 4% from the prior year. This increase in net income primarily was driven by increase in net revenues, which grew 8% year over year or $1,600,000,000 to $19,800,000,000 This increase in net revenues was driven by increases in both net interest income and non interest income.

Net interest income of $18,500,000,000 was up 5% year over year, primarily driven by continued mortgage portfolio growth and lower funding costs due to higher net worth. Non interest income was $1,300,000,000 up from $610,000,000 from 2023. This was primarily driven by impacts from interest rate risk management activities and spread related gains. Provision for credit losses was an expense of $374,000,000 for 2024, primarily driven by a credit reserve build attributable to new acquisitions. The benefit for credit losses of $1,200,000,000 for 2023 was primarily driven by credit reserve release due to improvements in house prices.

House prices increased 4% in 2024 compared to a 6.8% increase in 2023. Our current forecast assumes house prices will grow by 2.7% over the next twelve months and 3.3% over the subsequent twelve months, whereas our December 2023 forecast assumed an increase of 2.8% in the next twelve months followed by 2% growth in the subsequent twelve months. The single family allowance for credit losses coverage ratio at the end of the year was 21 basis points, one basis point higher than a year earlier. Full year new business activity was $346,000,000,000 up $46,000,000,000 or 15% from 2023 as both refinance and purchase activity increased during the year. Home purchase volume of two eighty six billion dollars accounted for 83% of our total new business activity for the year.

Mortgage rates remained higher in 2024 with the average thirty year fixed mortgage rate peaking at 7.2% in May of twenty twenty four. According to our primary mortgage market survey, the average rate for the thirty year fixed at the end of twenty twenty four was 6.85%, up from 6.61% on 12/31/2023. As I noted earlier, first time homebuyers represented 52% of new single family home loan purchases. The average net guarantee fee rate charged on new business was 55 basis points, down one basis point from 2023. The credit characteristics of our new business remains strong with an average estimated loan to value ratio of 77% and a weighted average credit score of 755.

Our single family mortgage portfolio increased 2% year over year to $3,100,000,000,000 at the end of twenty twenty four. Our single family portfolio credit characteristics remain strong with the weighted average current loan to value ratio at 52% and the weighted average current credit score at 755. Our single family serious delinquency rate was 59 basis points as of 12/31/2024, up four basis points from 55 basis points at the end of twenty twenty three. This increase in the serious delinquency rate was primarily due to recent hurricanes. We have historically observed temporary increases in delinquency rates following such events.

During the year, we helped approximately 77,000 families remain in their homes through loan workouts. At the end of the year, sixty two percent of our single family portfolio had some form of credit enhancement. Moving to multifamily, the business reported full year net income of $2,500,000,000 up $1,000,000,000 or 67% from the prior year. This was primarily driven by both higher net revenues and lower provision for credit loss is in 2024. Full year net revenues of $4,100,000,000 increased 38% year over year.

Net interest income of $1,200,000,000 increased 38% or $339,000,000 year over year, primarily driven by continued growth in the mortgage portfolio. Non interest income was $2,900,000,000 up 38% year over year, primarily driven by higher revenues from held for sale loan purchase and securitization activities and lower realized losses on sales of available for sale securities and other net investment gains. The provision for credit losses for 2024 was an expense of $102,000,000 down $198,000,000 from 2023. Provision for credit losses this year was driven by deterioration in overall loan performance and new loan purchases, which was partially offset by a credit reserve release due to enhancement of our credit loss estimation process. A credit reserve build due to increased uncertainty and forecasted economic and multifamily market conditions, as well as deterioration in overall loan performance drove 2023 provision for credit loss expense of $300,000,000 Total new business activity for 2024 was $65,000,000,000 an increase of 35% compared to 2023, primarily driven by increased demand for multifamily financing as a result of lower mortgage interest rates during the second half of the year.

Approximately 65% of this activity in 2024 based on UPB was mission driven, affordable housing exceeding FHFA's minimum requirement of 50%. In 2024, we securitized $55,000,000,000 of loans, $2,000,000,000 higher than the $53,000,000,000 in the prior year. Fully guaranteed securitizations made up 45% of the total issuances, up from 32% in 2023. The average guarantee fee rate on our total guarantee exposures increased to 51 basis points at the end of this year, up five basis points from the prior year, primarily due to continued growth in our fully guaranteed securitization issuances for which we charge higher rates. Our multifamily mortgage portfolio at the end of twenty twenty four was $467,000,000,000 an increase of 6% year over year.

The multifamily delinquency rate at the end of the year was 40 basis points, up from 28 basis points at the end of twenty twenty three. This increase was primarily driven by an increase in delinquent floating rate loans, including small balance loans that are in their floating rate period. 97% of the delinquent loans in the multifamily mortgage portfolio had credit enhancement coverage, reducing our credit exposure. So at year end, 91% of the multifamily mortgage portfolio was covered by credit enhancements. Our net worth increased to $59,600,000,000 at the end of the year, representing a 25% increase from 2023.

Finally, I want to take a moment to express our sympathy to everyone affected by the devastating California wildfires. Those in package should know that Freddie Mac is here to help. We encourage them to contact their mortgage servicers to learn about the immediate relief options now available. These include Freddie Mac's forbearance program, which offers mortgage relief for up to twelve months without incurring late fees or penalties. We also provide dedicated resources to renters in apartment buildings to help them plan and prepare for natural disasters, as well as respond and recover after they strike.

Providing this critical support to owners and renters not only benefits communities, investors in our company, it's the right thing to do. In conclusion, 2024 was another strong year for Freddie Mac as we made home possible for nearly 1,600,000 families, provided billions in liquidity to the markets and built our financial strength. We are already hard at work to ensure we continue making strides in these areas in 2025 and beyond. Thank you for joining us today.

Freddie Mac (FMCC) Q4 2024 Earnings Call Transcript

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