How Federal Agricultural Mortgage makes money

Period

FY2025

How does Federal Agricultural Mortgage make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Federal Agricultural Mortgage Corporation · FY2025 · year ended 2025-12-31

Revenue$408MGross profit$408M · 100%Cost of revenue$0 · 0%Operating income$364M · 89%Operating expenses$45M · 11%SG&A$45M · 11%Pre-tax income$256M · 63%Other expense$108M · 26%Net income$207M · 51%Income tax$48M · 12%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.