Last 47 quarters of trend data · Real Estate · REIT - Mortgage
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.93 | 16.02 | 3.99 | 4.21 | 147.49 | 33.85 | 5.87 | 104.53 | — | 5.79 | — | — | 18.84 | — | — | — | 2.68 | 1.29 | 7.32 | 6.18 | — |
| — | -52.7% | -31.9% | -96.0% | — | +484.5% | — | — | — | — | — | — | +602.9% | — | — | — | — | -26.1% | +108.4% | +142.5% | — | |
| P/S Ratio | 2.53 | 2.35 | 2.17 | 1.93 | 1.63 | 2.01 | 1.34 | 2.08 | 1.45 | 1.63 | 1.67 | 1.35 | 1.88 | 2.10 | 1.24 | 1.90 | 2.85 | 6.38 | 5.26 | — | 6.89 |
| — | +17.0% | +62.4% | -7.1% | +12.6% | +22.9% | -19.8% | +54.2% | -22.8% | -22.2% | +34.4% | -29.2% | -34.2% | -67.1% | -76.4% | — | -58.6% | +31.8% | +10.2% | — | — | |
| P/B Ratio | 0.92 | 0.94 | 0.96 | 0.84 | 0.87 | 0.91 | 0.82 | 0.83 | 0.85 | 0.86 | 0.85 | 0.87 | 0.83 | 0.79 | 0.87 | 0.67 | 0.81 | 0.90 | 0.86 | 0.89 | 0.92 |
| — | +2.7% | +16.9% | +1.5% | +2.3% | +6.4% | -3.6% | -5.0% | +1.9% | +9.2% | -1.7% | +29.3% | +2.5% | -12.4% | +0.7% | -24.1% | -11.6% | +4.8% | +2.2% | +26.0% | +35.6% | |
| P/FCF | — | — | 8.24 | — | 20.59 | — | 0.99 | — | 6.70 | 2.09 | 6.36 | 1.38 | 2.58 | — | 41.83 | 0.81 | 5.30 | 1.61 | 3.59 | 9.48 | 6.18 |
| — | — | +735.3% | — | +207.2% | — | -84.5% | — | +159.9% | — | -84.8% | +69.8% | -51.3% | — | +1065.1% | -91.4% | -14.3% | -43.2% | +5.3% | — | — | |
| EV / EBITDA | 18.45 | 20.86 | 13.42 | 14.20 | 22.04 | 20.14 | 15.25 | 18.51 | 5.90 | 3.98 | 32.75 | 10.15 | 4.51 | — | — | 28.88 | 3.91 | 2.19 | 9.10 | 7.05 | — |
| — | +3.6% | -12.0% | -23.3% | +273.7% | +406.1% | -53.4% | +82.3% | +30.7% | — | — | -64.8% | +15.4% | — | — | +309.3% | — | +21.2% | -57.4% | +80.1% | — | |
| EV / EBIT | 18.46 | 20.87 | 13.43 | 14.26 | 22.21 | 20.29 | 15.25 | 18.61 | 5.95 | 4.00 | 32.78 | 10.30 | 4.54 | — | — | 30.69 | 4.02 | 2.19 | 9.43 | 7.27 | — |
| — | +2.9% | -12.0% | -23.4% | +273.5% | +407.6% | -53.5% | +80.6% | +31.0% | — | — | -66.4% | +12.9% | — | — | +322.1% | — | +6.4% | -56.1% | +105.3% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.9% | 98.9% | 99.9% | 99.0% | 99.0% | 98.8% | 99.9% | 98.9% | 98.9% | 99.1% | 99.9% | 99.2% | 98.9% | 99.1% | 99.9% | 99.0% | 98.4% | 97.6% | 99.6% | 100.7% | 95.9% |
| — | +0.1% | -0.0% | +0.2% | +0.1% | -0.3% | +0.0% | -0.3% | -0.1% | -0.0% | -0.0% | +0.1% | +0.6% | +1.5% | +0.3% | -1.7% | +2.6% | +0.4% | +1.3% | +2.0% | -6.3% | |
| Operating Margin | 102.6% | 95.8% | 130.5% | 128.3% | 67.4% | 83.1% | 83.8% | 103.5% | 68.5% | 103.6% | 45.1% | 28.4% | 85.7% | -2.6% | -10.6% | 12.9% | 137.0% | 526.7% | 93.1% | -62.7% | -50.7% |
| — | +15.3% | +55.8% | +24.0% | -1.5% | -19.9% | +85.8% | +264.4% | -20.1% | +4015.2% | +526.9% | +119.9% | -37.4% | -100.5% | -111.4% | +120.6% | +370.3% | +57.8% | -39.9% | -158.7% | +69.8% | |
| Net Margin | 30.3% | 17.3% | 56.7% | 51.1% | 3.2% | 8.3% | 24.7% | 5.3% | -0.6% | 30.7% | -27.8% | -32.6% | 12.7% | -75.7% | -44.7% | -28.4% | 109.8% | 501.0% | 76.8% | -56.2% | -65.1% |
| — | +107.6% | +129.4% | +859.2% | +653.8% | -72.8% | +188.8% | +116.3% | -104.5% | +140.5% | +37.7% | -14.7% | -88.4% | -115.1% | -158.2% | +49.4% | +268.7% | +78.0% | -45.7% | -153.2% | +61.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.1% | 1.7% | 6.5% | 5.8% | 0.4% | 1.0% | 3.8% | 0.6% | -0.1% | 4.1% | -3.7% | -5.0% | 1.4% | -7.3% | -8.0% | -2.5% | 7.7% | 16.4% | 3.1% | 3.8% | -2.1% |
| — | +80.6% | +70.3% | +947.4% | +616.2% | -76.2% | +204.2% | +111.2% | -105.9% | +155.9% | +53.9% | -99.5% | -81.7% | -144.3% | -357.8% | -165.8% | +459.9% | +31.5% | -50.3% | -47.7% | -133.0% | |
| ROA | 1.7% | 0.2% | 0.8% | 0.7% | 0.1% | 0.1% | 0.5% | 0.1% | -0.0% | 0.5% | -0.4% | -0.6% | 0.2% | -1.0% | -1.1% | -0.3% | 1.2% | 2.6% | 0.5% | 0.7% | -0.4% |
| — | +73.1% | +64.9% | +927.2% | +615.7% | -76.2% | +206.5% | +110.8% | -105.4% | +150.1% | +58.4% | -81.5% | -83.6% | -137.9% | -296.1% | -153.0% | +428.2% | +31.3% | -45.2% | -41.3% | -139.2% | |
| ROIC | 4.5% | 0.9% | 1.4% | 1.4% | 0.9% | 0.9% | 1.2% | 1.5% | 3.1% | 2.1% | 0.9% | 1.7% | 4.1% | -0.0% | -0.3% | 0.5% | 4.2% | 8.0% | 2.0% | 2.5% | -1.0% |
| — | -0.1% | +15.5% | -11.0% | -71.9% | -55.7% | +36.0% | -10.6% | -25.3% | +4651.1% | +376.2% | +243.0% | -1.5% | -100.6% | -116.5% | -80.1% | +508.9% | +160.3% | +44.3% | -33.0% | -131.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.92 | 7.16 | 6.92 | 7.14 | 7.11 | 6.77 | 7.06 | 6.87 | 1.56 | 1.34 | 6.84 | 1.06 | 0.91 | 0.82 | 6.01 | 0.83 | 0.74 | 0.81 | 0.54 | 0.39 | 0.33 |
| — | +5.7% | -1.9% | +3.9% | +355.4% | +403.9% | +3.2% | +550.6% | +72.1% | +64.5% | +13.7% | +27.2% | +22.7% | +0.7% | +1015.5% | +114.6% | +122.1% | +175.2% | -89.5% | -25.8% | -46.0% | |
| Debt / EBITDA | 16.28 | 74.85 | 47.91 | 50.97 | 78.78 | 71.19 | 54.78 | 66.29 | 15.47 | 9.83 | 118.38 | 22.66 | 9.49 | — | — | 69.99 | 7.54 | 4.37 | 14.09 | 9.11 | — |
| — | +5.1% | -12.5% | -23.1% | +409.2% | +624.3% | -53.7% | +192.6% | +63.0% | — | — | -67.6% | +25.9% | — | — | +668.5% | — | +119.8% | -81.1% | +27.0% | — | |
| Current Ratio | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.05 | 0.02 | 0.04 | 0.06 | — | 1.43 | 0.66 | 0.76 | — | 0.25 | 0.23 | 0.22 | 0.03 | 0.41 | 0.81 |
| — | +91.9% | -28.6% | -21.7% | -66.2% | -70.6% | — | -98.6% | -93.2% | -92.5% | — | +468.5% | +191.5% | +247.4% | — | -38.3% | -71.8% | -36.6% | — | +61.7% | +77.4% | |
| Quick Ratio | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.05 | 0.02 | 0.04 | 0.06 | — | 1.43 | 0.66 | 0.88 | — | 0.40 | 0.24 | 0.54 | 0.03 | 0.89 | 1.36 |
| — | +91.9% | -28.6% | -21.7% | -66.2% | -70.6% | — | -98.6% | -93.2% | -93.5% | — | +253.8% | +174.9% | +62.3% | — | -54.8% | -82.2% | -51.1% | — | +171.4% | +158.4% | |
| Interest Coverage | 1.42 | 1.23 | 1.76 | 1.66 | 1.05 | 1.13 | 1.42 | 1.06 | 1.00 | 1.42 | 0.63 | 0.47 | 1.18 | -0.04 | -0.34 | 0.31 | 6.20 | 28.37 | 7.88 | 11.21 | -3.75 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NLY stock.
Annaly Capital Management, Inc.'s current P/E is 7.9x. The average P/E over the last 4 quarters is 42.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Annaly Capital Management, Inc.'s current operating margin is 102.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Annaly Capital Management, Inc.'s business trajectory between earnings reports.