8-K Announcements
6Apr 21, 2026·SEC
Apr 21, 2026·SEC
Apr 21, 2026·SEC
Annaly Capital Management, Inc. (NLY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Annaly Capital Management, Inc. (NLY) stock price & volume — 10-year historical chart
Annaly Capital Management, Inc. (NLY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Annaly Capital Management, Inc. (NLY) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $0.33vs $0.74-55.4% | $1.6Bvs $595M+173.9% |
| Q1 2026 | Jan 28, 2026 | $0.74vs $0.72+2.8% | $1.1Bvs $697M+52.2% |
| Q4 2025 | Oct 22, 2025 | $0.73vs $0.72+1.4% | $2.2Bvs $555M+288.8% |
| Q3 2025 | Jul 23, 2025 | $0.73vs $0.72+1.4% | $1.8Bvs $494M+262.5% |
Annaly Capital Management, Inc. (NLY) competitors in Diversified mortgage and specialty finance REITs — business model, growth, and fundamentals comparison
Annaly Capital Management, Inc. (NLY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Annaly Capital Management, Inc. (NLY) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.35B | 2.08B | 1.81B | 1.48B | 751.4M | 4.15B | 5.61B | 6.36B | 6.7B |
| Revenue Growth % | 17.99% | -11.55% | -12.75% | -18.19% | -49.38% | 452.3% | 35.13% | 13.33% | 5.35% |
| Property Operating Expenses | 53.1M | 36.2M | 47.4M | 45.4M | 49.27M | 41.01M | 49.61M | 60.71M | 5.38M |
| Net Operating Income (NOI) | 2.3B▲ 0% | 2.04B▼ 11.1% | 1.77B▼ 13.5% | 1.44B▼ 18.6% | 702.13M▼ 51.2% | 4.11B▲ 485.2% | 5.56B▲ 35.3% | 6.29B▲ 13.2% | 6.69B▲ 6.3% |
| NOI Margin % | 97.74% | 98.26% | 97.39% | 96.94% | 93.44% | 99.01% | 99.12% | 99.04% | 99.92% |
| Operating Expenses | 721.94M | 1.89B | 1.16B | 1.46B | -2.23B | 986.97M | 3.31B | 675.3M | -178.38M |
| G&A Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | 1.6B | 172.67M | 634.65M | 3.62M | 2.95B | 3.14B | 2.27B | 5.65B | 6.87B |
| EBITDA Margin % | 68.16% | 8.3% | 34.98% | 0.24% | 393.05% | 75.72% | 40.46% | 88.9% | 102.62% |
| Depreciation & Amortization | 26.55M | 18.1M | 23.7M | 22.7M | 24.64M | 20.51M | 24.81M | 30.36M | 2.69M |
| D&A / Revenue % | 1.13% | 0.87% | 1.31% | 1.53% | 3.28% | 0.49% | 0.44% | 0.48% | 0.04% |
| Operating Income | 1.58B▲ 0% | 154.57M▼ 90.2% | 610.95M▲ 295.2% | -19.08M▼ 103.1% | 2.93B▲ 15447.5% | 3.12B▲ 6.6% | 2.24B▼ 28.1% | 5.62B▲ 150.4% | 6.87B▲ 22.2% |
| Operating Margin % | 67.03% | 7.43% | 33.67% | -1.29% | 389.77% | 75.23% | 40.01% | 88.42% | 102.58% |
| Interest Expense | 1.01B | 1.9B | 2.78B | 899.11M | 249.24M | 1.31B | 3.84B | 4.59B | 4.82B |
| Interest Coverage | 2.56x | 1.03x | 0.22x | -0.02x | 10.63x | 2.35x | 0.58x | 1.22x | 1.42x |
| Non-Operating Income | -1.01B | -1.8B | 0 | 0 | 278.56M | 40.26M | 0 | 0 | 0 |
| Pretax Income | 1.58B▲ 0% | 51.77M▼ 96.7% | -2.17B▼ 4299.0% | -918.2M▲ 57.8% | 2.4B▲ 361.5% | 1.77B▼ 26.2% | -1.6B▼ 190.2% | 1.03B▲ 164.2% | 2.04B▲ 99.1% |
| Pretax Margin % | 67.03% | 2.49% | -119.81% | -61.85% | 319.53% | 42.7% | -28.51% | 16.16% | 30.54% |
| Income Tax | 6.98M | -2.38M | -10.84M | -28.42M | 4.67M | 45.57M | 39.43M | 15.26M | -6.87M |
| Effective Tax Rate % | 0.44% | -4.59% | 0.5% | 3.1% | 0.19% | 2.57% | -2.47% | 1.49% | -0.34% |
| Net Income | 1.57B▲ 0% | 54.41M▼ 96.5% | -2.16B▼ 4075.3% | -891.16M▲ 58.8% | 2.39B▲ 368.2% | 1.73B▼ 27.8% | -1.64B▼ 195.2% | 1B▲ 161.0% | 2.03B▲ 102.3% |
| Net Margin % | 66.76% | 2.62% | -119.2% | -60.03% | 318.06% | 41.57% | -29.3% | 15.76% | 30.28% |
| Net Income Growth % | 9.47% | -96.53% | -4075.27% | 58.8% | 368.18% | -27.81% | -195.24% | 160.97% | 102.34% |
| Funds From Operations (FFO) | 1.6B▲ 0% | 72.51M▼ 95.5% | -2.14B▼ 3050.2% | -868.46M▲ 59.4% | 2.41B▲ 378.0% | 1.75B▼ 27.7% | -1.62B▼ 192.7% | 1.03B▲ 163.8% | 2.03B▲ 96.7% |
| FFO Margin % | 67.89% | 3.49% | -117.89% | -58.5% | 321.34% | 42.07% | -28.86% | 16.24% | 30.32% |
| FFO Growth % | 8.69% | -95.46% | -3050.25% | 59.4% | 378.02% | -27.69% | -192.7% | 163.78% | 96.65% |
| FFO per Share | 5.99 | 0.24 | -5.96 | -2.46 | 6.76 | 4.24 | -3.27 | 1.97 | 3.17 |
| FFO Payout Ratio % | 84.78% | 2125.13% | -78.96% | 0% | 56.31% | 87.02% | -93.78% | 144.7% | 92.72% |
| EPS (Diluted) | 5.48▲ 0% | -0.25▼ 104.5% | -6.41▼ 2487.8% | -2.92▲ 54.4% | 6.39▲ 318.8% | 3.92▼ 38.7% | -3.61▼ 192.1% | 1.62▲ 144.9% | 2.92▲ 80.2% |
| EPS Growth % | -1.44% | -104.52% | -2487.81% | 54.45% | 318.84% | -38.65% | -192.09% | 144.88% | 80.25% |
| EPS (Basic) | 5.48 | -0.25 | -6.41 | -2.92 | 6.40 | 3.93 | -3.61 | 1.62 | 2.92 |
| Diluted Shares Outstanding | 266.59M | 302.4M | 358.73M | 353.66M | 357.14M | 411.62M | 494.54M | 522.75M | 641.04M |
Annaly Capital Management, Inc. (NLY) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 101.76B | 105.79B | 130.3B | 88.46B | 76.76B | 81.85B | 93.23B | 103.56B | 135.61B |
| Asset Growth % | 15.76% | 3.96% | 23.17% | -32.11% | -13.22% | 6.63% | 13.9% | 11.08% | 30.95% |
| Real Estate & Other Assets | 95.21B | -96.02B | -119.71B | -241.4M | 66.98B | -6.21B | -4.57B | -2.52B | -128.49B |
| PP&E (Net) | 580.86M | -105.79B | 15.79M | 13.17M | 0 | 0 | 0 | 0 | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 324.76M | 426.14M | 2.31B | 0 | 1.58B | 0 | 0 | 0 | 2.96B |
| Cash & Equivalents | 706.59M | 1.74B | 1.85B | 1.24B | 119.58M | 152.55M | 275.85M | 285.15M | 2.04B |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | 0 | 0 | -1.53B | 1.22B | -1.36B | -8.42B | -5.62B | -1.03M |
| Intangible Assets | 604.08M | 557.81M | 378.08M | 0 | 638.12M | 1.08B | 353.02M | 458.3M | 0 |
| Total Liabilities | 86.89B | 91.67B | 114.5B | 74.43B | 63.57B | 70.48B | 81.88B | 90.86B | 119.45B |
| Total Debt | 7.12B | 8.04B | 10.56B | 71.88B | 7.11B | 8.8B | 13.2B | 21.45B | 111.86B |
| Net Debt | 6.41B | 6.31B | 8.71B | 70.64B | 6.99B | 8.64B | 12.93B | 21.16B | 109.82B |
| Long-Term Debt | 84.82B | 89.14B | 10.56B | 7B | 6.2B | 8.55B | 12.7B | 20.7B | 29.99B |
| Short-Term Borrowings | 0 | 0 | 0 | 64.87B | 903.25M | 250M | 500M | 750M | 81.87B |
| Capital Lease Obligations | 0 | 0 | 0 | 13.27M | 9.85M | 7.2M | 3.4M | 25.49M | 32.87M |
| Total Current Liabilities | 460.84M | 1.15B | 939.72M | 0 | 54.77B | 61.66B | 68.7B | 0 | 84.8B |
| Accounts Payable | 253.07M | 583.04M | 463.39M | 0 | 91.18M | 325.28M | 287.94M | 268.32M | 2.06B |
| Deferred Revenue | -94.49B | -100.21B | -102.3B | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | -84.82B | -89.14B | -10.56B | -7.01B | 1.13B | 278.44M | 481.3M | 301.86M | 4.66B |
| Total Equity | 14.87B▲ 0% | 14.12B▼ 5.1% | 15.8B▲ 11.9% | 14.02B▼ 11.2% | 13.2B▼ 5.9% | 11.37B▼ 13.8% | 11.35B▼ 0.2% | 12.7B▲ 11.9% | 16.16B▲ 27.3% |
| Equity Growth % | 18.25% | -5.07% | 11.89% | -11.23% | -5.89% | -13.84% | -0.21% | 11.92% | 27.27% |
| Shareholders Equity | 14.87B | 14.11B | 15.79B | 14.01B | 13.17B | 11.27B | 11.26B | 12.61B | 16.09B |
| Minority Interest | 6.1M | 5.69M | 4.33M | 13.48M | 25.5M | 98.98M | 89.3M | 87.71M | 69.14M |
| Common Stock | 11.6M | 13.14M | 14.3M | 13.98M | 3.65M | 4.68M | 5M | 5.78M | 7.07M |
| Additional Paid-in Capital | 17.22B | 18.79B | 19.97B | 19.75B | 20.32B | 22.98B | 23.67B | 25.26B | 27.93B |
| Retained Earnings | -2.96B | -4.49B | -8.31B | -10.67B | -9.65B | -9.54B | -12.62B | -13.17B | -13.16B |
| Preferred Stock | 1.72B | 1.78B | 1.98B | 1.54B | 1.54B | 1.54B | 1.54B | 1.54B | 1.8B |
| Return on Assets (ROA) | 1.66% | 0.05% | -1.83% | -0.81% | 2.89% | 2.18% | -1.88% | 1.02% | 1.7% |
| Return on Equity (ROE) | 11.44% | 0.38% | -14.46% | -5.98% | 17.56% | 14.05% | -14.47% | 8.33% | 14.05% |
| Debt / Assets | 7% | 7.6% | 8.11% | 81.26% | 9.26% | 10.75% | 14.16% | 20.71% | 82.49% |
| Debt / Equity | 0.48x | 0.57x | 0.67x | 5.13x | 0.54x | 0.77x | 1.16x | 1.69x | 6.92x |
| Net Debt / EBITDA | 4.00x | 36.52x | 13.73x | 19528.62x | 2.37x | 2.75x | 5.70x | 3.75x | 15.98x |
| Book Value per Share | 55.78 | 46.69 | 44.03 | 39.65 | 36.95 | 27.62 | 22.94 | 24.29 | 25.21 |
Annaly Capital Management, Inc. (NLY) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 6.93B | 2.62B | -1.2B | 535.56M | 3.08B | 5.37B | 2.37B | 3.31B | 692.91M |
| Operating CF Growth % | 1.11% | -62.18% | -145.75% | 144.65% | 474.51% | 74.61% | -55.94% | 39.86% | -79.07% |
| Operating CF / Revenue % | 294.86% | 126.08% | -66.11% | 36.08% | 409.48% | 129.46% | 42.21% | 52.09% | 10.35% |
| Net Income | 1.57B | 54.15M | -2.16B | -891.16M | 2.4B | 1.73B | -1.64B | 1.01B | 2.03B |
| Depreciation & Amortization | 26.55M | 72.36M | 31.56M | 22.7M | 24.64M | 20.51M | 24.81M | 30.36M | 280.68M |
| Stock-Based Compensation | 1.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 5.17B | 2.31B | 1.12B | 1.31B | 689.82M | 3.85B | 4.68B | 2.12B | -1.73B |
| Working Capital Changes | 27.49M | 188.9M | -188.59M | 92.01M | -33.9M | -223.07M | -694.48M | 148.43M | 112.4M |
| Cash from Investing | -14.67B | -908.42M | -20.64B | 40.35B | 4.9B | -14.53B | -8.42B | -14.98B | -27.36B |
| Acquisitions (Net) | 5.45M | -258.33M | 0 | 6.26M | 1.12B | 0 | 0 | 0 | 0 |
| Purchase of Investments | -102.35M | -45.44B | -64.09B | -91.48B | -22.34B | -45.47B | -41.04B | -32.21B | -40.75B |
| Sale of Investments | 226.59M | 33.41B | 25.71B | 131.24B | 30.42B | 34.6B | 37.41B | 27.94B | 17.17B |
| Other Investing | -14.78B | 11.38B | 17.75B | 589.21M | -3.76B | -2.64B | -4.4B | -9.85B | -3.79B |
| Cash from Financing | 12.2B | -684.44M | 21.96B | -41.49B | -7.88B | 9.39B | 5.88B | 11.75B | 27.22B |
| Dividends Paid | -1.35B | -1.54B | -1.69B | -1.48B | -1.36B | -1.52B | -1.52B | -1.49B | -1.88B |
| Common Dividends | -1.35B | -1.54B | -1.69B | 0 | -1.36B | -1.52B | -1.52B | -1.49B | -1.88B |
| Debt Issuance (Net) | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Share Repurchases | -185.31M | -412.5M | -223.57M | -669.42M | 0 | 0 | 0 | -6.16M | -14.18M |
| Other Financing | -3.16M | 1.32B | 20.88B | 39.92M | -10.08B | 4.16B | 2.91B | 3.72B | 2.85B |
| Net Change in Cash | -833.16M▲ 0% | 1.03B▲ 223.5% | 114.98M▼ 88.8% | -607.03M▼ 627.9% | 98.39M▲ 116.2% | 234.62M▲ 138.5% | -164.57M▼ 170.1% | 75.88M▲ 146.1% | 549.81M▲ 624.6% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 1.54B | 706.59M | 1.74B | 1.85B | 1.24B | 1.34B | 1.58B | 1.41B | 1.49B |
| Cash at End | 706.59M | 1.74B | 1.85B | 1.24B | 1.34B | 1.58B | 1.41B | 1.49B | 2.04B |
| Free Cash Flow | 6.92B▲ 0% | 2.62B▼ 62.1% | -1.2B▼ 145.8% | 535.56M▲ 144.6% | 2.54B▲ 374.0% | 4.36B▲ 71.7% | 1.97B▼ 54.8% | 2.45B▲ 24.2% | -222.16M▼ 109.1% |
| FCF Growth % | 3.58% | -62.12% | -145.76% | 144.65% | 374.03% | 71.67% | -54.79% | 24.22% | -109.08% |
| FCF / Revenue % | 294.37% | 126.06% | -66.11% | 36.08% | 337.86% | 105.02% | 35.14% | 38.51% | -3.32% |
Annaly Capital Management, Inc. (NLY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 6.06 | 5.99 | 0.24 | -5.96 | -2.46 | 6.76 | 4.24 | -3.27 | 1.97 | 3.17 |
| FFO Payout Ratio | 83.14% | 84.78% | 2125.13% | -78.96% | 0% | 56.31% | 87.02% | -93.78% | 144.7% | 92.72% |
| NOI Margin | 96.51% | 97.74% | 98.26% | 97.39% | 96.94% | 93.44% | 99.01% | 99.12% | 99.04% | 99.92% |
| Net Debt / EBITDA | 4.18x | 4.00x | 36.52x | 13.73x | 19528.62x | 2.37x | 2.75x | 5.70x | 3.75x | 15.98x |
| Debt / Assets | 8.95% | 7% | 7.6% | 8.11% | 81.26% | 9.26% | 10.75% | 14.16% | 20.71% | 82.49% |
| Interest Coverage | 3.18x | 2.56x | 1.03x | 0.22x | -0.02x | 10.63x | 2.35x | 0.58x | 1.22x | 1.42x |
| Book Value / Share | 51.85 | 55.78 | 46.69 | 44.03 | 39.65 | 36.95 | 27.62 | 22.94 | 24.29 | 25.21 |
| Revenue Growth | 43.7% | 17.99% | -11.55% | -12.75% | -18.19% | -49.38% | 452.3% | 35.13% | 13.33% | 5.35% |
Annaly Capital Management, Inc. (NLY) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 21, 2026·SEC
Apr 21, 2026·SEC
Apr 21, 2026·SEC
Annaly Capital Management, Inc. (NLY) stock FAQ — growth, dividends, profitability & financials explained
Annaly Capital Management, Inc. (NLY) reported $6.70B in revenue for fiscal year 2025. This represents a 117363% increase from $5.7M in 1997.
Annaly Capital Management, Inc. (NLY) grew revenue by 5.4% over the past year. This is steady growth.
Yes, Annaly Capital Management, Inc. (NLY) is profitable, generating $2.03B in net income for fiscal year 2025 (30.3% net margin).
Yes, Annaly Capital Management, Inc. (NLY) pays a dividend with a yield of 13.12%. This makes it attractive for income-focused investors.
Annaly Capital Management, Inc. (NLY) has a return on equity (ROE) of 14.1%. This is reasonable for most industries.
Annaly Capital Management, Inc. (NLY) generated Funds From Operations (FFO) of $2.05B in the trailing twelve months. FFO is the primary profitability metric for REITs.
Annaly Capital Management, Inc. (NLY) offers a 13.12% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Annaly Capital Management, Inc. (NLY) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates