NRUCNYSEMiscellaneous Business Credit InstitutionFiscal year ends May 31
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/
Financials through Q1 FY2027, quarter ended Aug 31, 2026Last filing: 10-Q on Oct 13, 2026
$19.98−0.36 (-1.77%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Net margin
63.3%−22.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +45.5% | -12.3% | -15.2% | +27.7% | |
| Net income | +87.6% | -19.4% | -20.2% | – | |
| Free cash flow | +52.2% | -2.2% | +6.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 33.3% | 81.1% | 8.2% | |
| Return on assets | 1.3% | 2.8% | 0.7% | |
| Capex to revenue | – | 1.0% | 0.4% |
Where the cash went
Fiscal 2022 to 2026, five years combined
National Rural Utilities Cooperative Finance generated $1.43B from operations and spent $38.06M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.43B
Used
$38.06M
Capital expenditure$38.06M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin63.3%
×Asset turnover0.01×
×Equity multiplier12.24×
=Return on equity, FY20268.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 63.3% | 0.01× | 12.24× | 8.2% |
| FY2025 | 49.1% | 0.01× | 12.27× | 4.6% |
| FY2024 | 81.4% | 0.02× | 12.64× | 19.9% |
| FY2023 | 81.6% | 0.02× | 13.96× | 21.4% |
| FY2022 | 90.5% | 0.03× | 17.45× | 45.6% |
| FY2021 | 86.2% | 0.03× | 28.88× | 81.1% |
| FY2018 | 85.3% | 0.02× | 20.40× | 35.8% |
| FY2017 | 76.0% | 0.02× | 26.58× | 33.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 5 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$262.11M
- Cash generatingOperating cash flow above zero$310.53M
- Return on assets improvedROA up on the prior year0.4% → 0.7%
- Earnings backed by cashOperating cash flow above net income$310.53M vs $262.11M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.01 → 0.01