Fannie Mae-No Politics (FNMA)

[kthomp19]

If you make 4.3B in a quarter and the shares only go for around $1.50 per share. The outstanding shares are 1.16 B shares. The math to me is the made $ 3.70 per share in the quarter.

Fannie Mae's own 10-Q says that "Net income (loss) attributable to common stockholders" was negative $4M and "Weighted-average common shares outstanding" is 5.867B. That comes out to an EPS that rounds to zero.

Source: Fannie Mae 2024 Q1 10-Q form, page 60

I know we are in a conservatorship.

And that's exactly the problem. The common share price won't reflect any economic or voting rights until those rights are restored. That requires both a removal of the senior pref overhang (via conversion or writedown) and an exit from conservatorship.