NLY
Annaly Capital Management, Inc.
REIT - Mortgage
Market Cap$16.08B
5Y Perf.-9.2%
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Stock Comparison
NLY vs IVR
Revenue, margins, valuation, and 5-year total return — side by side.
IVR
Invesco Mortgage Capital Inc.
REIT - Mortgage
Market Cap$577M
5Y Perf.-69.5%
NLY vs IVR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | NLY | IVR |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $16.08B | $577M |
| Revenue (TTM) | $6.70B | $335M |
| Net Income (TTM) | $2.03B | $101M |
| Gross Margin | 99.2% | 50.5% |
| Operating Margin | 102.6% | 47.1% |
| Forward P/E | 7.5x | 3.7x |
| Total Debt | $111.86B | $5.62B |
| Cash & Equiv. | $2.04B | $56M |
NLY vs IVR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
NLY
IVR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Annaly Capital Mana… (NLY) | 100 | 90.8 | -9.2% |
| Invesco Mortgage Ca… (IVR) | 100 | 30.5 | -69.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NLY vs IVR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: NLY leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Invesco Mortgage Capital Inc. is the stronger pick specifically for valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
NLY
Annaly Capital Management, Inc.
The Real Estate Income Play
NLY carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.64, yield 13.1%
- Rev growth 5.4%, EPS growth 80.2%, 3Y rev CAGR 17.3%
- 39.3% 10Y total return vs IVR's -29.9%
Best for: income & stability and growth exposure
IVR
Invesco Mortgage Capital Inc.
The Real Estate Income Play
IVR is the clearest fit if your priority is defensive.
- Beta 0.78, yield 20.1%, current ratio 0.04x
- Lower P/E (3.7x vs 7.5x)
Best for: defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | NLY | 5.4% FFO/revenue growth vs IVR's -24.6% |
| Value | IVR | Lower P/E (3.7x vs 7.5x) |
| Quality / Margins | NLY | 30.3% margin vs IVR's 30.2% |
| Stability / Safety | NLY | Beta 0.64 vs IVR's 0.78, lower leverage |
| Dividends | NLY | 13.1% yield, 1-year raise streak, vs IVR's 20.1% |
| Momentum (1Y) | NLY | +30.7% vs IVR's +30.3% |
| Efficiency (ROA) | NLY | 1.7% ROA vs IVR's 1.7%, ROIC 6.4% vs 4.0% |
NLY vs IVR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2021
Segment breakdown not available.
NLY vs IVR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLNLYLAGGINGIVR
IVRInvesco Mortgage Capi…
1leads
NLYAnnaly Capital Manage…
3leads
6 Total Categories
CATEGORYLEADERvs IVRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
NLY4/6
Valuation MetricsMultiples, price ratios, and targets
IVR4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
NLY6/6
Risk & VolatilityBeta, volatility, and downside exposure
NLY2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
NLY leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NLY is the larger business by revenue, generating $6.7B annually — 20.0x IVR's $335M. Profitability is closely matched — net margins range from 30.3% (NLY) to 30.2% (IVR). On growth, NLY holds the edge at -8.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| RevenueTrailing 12 months | $6.7B | $335M |
| EBITDAEarnings before interest/tax | $6.9B | $158M |
| Net IncomeAfter-tax profit | $2.0B | $101M |
| Free Cash FlowCash after capex | -$222M | $157M |
| Gross MarginGross profit ÷ Revenue | +99.2% | +50.5% |
| Operating MarginEBIT ÷ Revenue | +102.6% | +47.1% |
| Net MarginNet income ÷ Revenue | +30.3% | +30.2% |
| FCF MarginFCF ÷ Revenue | -3.3% | +46.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -8.4% | -58.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +79.5% | +9.7% |
NLY leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
IVR leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 5.2x trailing earnings, IVR trades at a 32% valuation discount to NLY's 7.7x P/E. On an enterprise value basis, NLY's 18.3x EV/EBITDA is more attractive than IVR's 19.1x.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| Market CapShares × price | $16.1B | $577M |
| Enterprise ValueMkt cap + debt − cash | $125.9B | $6.1B |
| Trailing P/EPrice ÷ TTM EPS | 7.66x | 5.25x |
| Forward P/EPrice ÷ next-FY EPS est. | 7.45x | 3.67x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 18.32x | 19.12x |
| Price / SalesMarket cap ÷ Revenue | 2.40x | 1.70x |
| Price / BookPrice ÷ Book value/share | 0.89x | 0.67x |
| Price / FCFMarket cap ÷ FCF | — | 3.67x |
IVR leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
Evenly matched — NLY and IVR each lead in 4 of 8 comparable metrics.
Profitability & Efficiency
NLY delivers a 14.1% return on equity — every $100 of shareholder capital generates $14 in annual profit, vs $13 for IVR. NLY carries lower financial leverage with a 6.92x debt-to-equity ratio, signaling a more conservative balance sheet compared to IVR's 7.05x.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| ROE (TTM)Return on equity | +14.1% | +13.3% |
| ROA (TTM)Return on assets | +1.7% | +1.7% |
| ROICReturn on invested capital | +6.4% | +4.0% |
| ROCEReturn on capital employed | +19.7% | +40.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 6.92x | 7.05x |
| Net DebtTotal debt minus cash | $109.8B | $5.6B |
| Cash & Equiv.Liquid assets | $2.0B | $56M |
| Total DebtShort + long-term debt | $111.9B | $5.6B |
| Interest CoverageEBIT ÷ Interest expense | 1.42x | 1.46x |
Evenly matched — NLY and IVR each lead in 4 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
NLY leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NLY five years ago would be worth $10,220 today (with dividends reinvested), compared to $5,225 for IVR. Over the past 12 months, NLY leads with a +30.7% total return vs IVR's +30.3%. The 3-year compound annual growth rate (CAGR) favors NLY at 16.9% vs IVR's 9.8% — a key indicator of consistent wealth creation.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| YTD ReturnYear-to-date | +0.8% | +0.4% |
| 1-Year ReturnPast 12 months | +30.7% | +30.3% |
| 3-Year ReturnCumulative with dividends | +59.6% | +32.3% |
| 5-Year ReturnCumulative with dividends | +2.2% | -47.7% |
| 10-Year ReturnCumulative with dividends | +39.3% | -29.9% |
| CAGR (3Y)Annualised 3-year return | +16.9% | +9.8% |
NLY leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
NLY leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
NLY is the less volatile stock with a 0.64 beta — it tends to amplify market swings less than IVR's 0.78 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NLY currently trades 91.3% from its 52-week high vs IVR's 84.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.64x | 0.78x |
| 52-Week HighHighest price in past year | $24.52 | $9.50 |
| 52-Week LowLowest price in past year | $18.43 | $7.10 |
| % of 52W HighCurrent price vs 52-week peak | +91.3% | +84.5% |
| RSI (14)Momentum oscillator 0–100 | 49.6 | 44.4 |
| Avg Volume (50D)Average daily shares traded | 7.1M | 2.2M |
NLY leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — NLY and IVR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates NLY as "Buy" and IVR as "Hold". Consensus price targets imply 12.1% upside for IVR (target: $9) vs 9.5% for NLY (target: $25). For income investors, IVR offers the higher dividend yield at 20.08% vs NLY's 13.12%.
| Metric | NLYAnnaly Capital Ma… | IVRInvesco Mortgage … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $24.50 | $9.00 |
| # AnalystsCovering analysts | 28 | 20 |
| Dividend YieldAnnual dividend ÷ price | +13.1% | +20.1% |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $2.94 | $1.61 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | +1.5% |
Evenly matched — NLY and IVR each lead in 1 of 2 comparable metrics.
Key Takeaway
NLY leads in 3 of 6 categories (Income & Cash Flow, Total Returns). IVR leads in 1 (Valuation Metrics). 2 tied.
Best OverallAnnaly Capital Management, … (NLY)Leads 3 of 6 categories
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NLY vs IVR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is NLY or IVR a better buy right now?
For growth investors, Annaly Capital Management, Inc.
(NLY) is the stronger pick with 5. 4% revenue growth year-over-year, versus -24. 6% for Invesco Mortgage Capital Inc. (IVR). Invesco Mortgage Capital Inc. (IVR) offers the better valuation at 5. 2x trailing P/E (3. 7x forward), making it the more compelling value choice. Analysts rate Annaly Capital Management, Inc. (NLY) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NLY or IVR?
On trailing P/E, Invesco Mortgage Capital Inc.
(IVR) is the cheapest at 5. 2x versus Annaly Capital Management, Inc. at 7. 7x. On forward P/E, Invesco Mortgage Capital Inc. is actually cheaper at 3. 7x.
03Which is the better long-term investment — NLY or IVR?
Over the past 5 years, Annaly Capital Management, Inc.
(NLY) delivered a total return of +2. 2%, compared to -47. 7% for Invesco Mortgage Capital Inc. (IVR). Over 10 years, the gap is even starker: NLY returned +39. 3% versus IVR's -29. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NLY or IVR?
By beta (market sensitivity over 5 years), Annaly Capital Management, Inc.
(NLY) is the lower-risk stock at 0. 64β versus Invesco Mortgage Capital Inc. 's 0. 78β — meaning IVR is approximately 22% more volatile than NLY relative to the S&P 500. On balance sheet safety, Annaly Capital Management, Inc. (NLY) carries a lower debt/equity ratio of 7% versus 7% for Invesco Mortgage Capital Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — NLY or IVR?
By revenue growth (latest reported year), Annaly Capital Management, Inc.
(NLY) is pulling ahead at 5. 4% versus -24. 6% for Invesco Mortgage Capital Inc. (IVR). On earnings-per-share growth, the picture is similar: Invesco Mortgage Capital Inc. grew EPS 135. 4% year-over-year, compared to 80. 2% for Annaly Capital Management, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — NLY or IVR?
Annaly Capital Management, Inc.
(NLY) is the more profitable company, earning 30. 3% net margin versus 29. 8% for Invesco Mortgage Capital Inc. — meaning it keeps 30. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NLY leads at 102. 6% versus 94. 5% for IVR. At the gross margin level — before operating expenses — NLY leads at 99. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is NLY or IVR more undervalued right now?
On forward earnings alone, Invesco Mortgage Capital Inc.
(IVR) trades at 3. 7x forward P/E versus 7. 5x for Annaly Capital Management, Inc. — 3. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for IVR: 12. 1% to $9. 00.
08Which pays a better dividend — NLY or IVR?
All stocks in this comparison pay dividends.
Invesco Mortgage Capital Inc. (IVR) offers the highest yield at 20. 1%, versus 13. 1% for Annaly Capital Management, Inc. (NLY).
09Is NLY or IVR better for a retirement portfolio?
For long-horizon retirement investors, Annaly Capital Management, Inc.
(NLY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 64), 13. 1% yield). Both have compounded well over 10 years (NLY: +39. 3%, IVR: -29. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between NLY and IVR?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(NLY: -8.4% · IVR: -58.6%)Net Margin>
%
(NLY: 30.3% · IVR: 30.2%)P/E Ratio<
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