Last 47 quarters of trend data · Real Estate · REIT - Mortgage
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Annaly Capital Management, Inc.'s quarterly P/E stands at 4.0x, down 31.9% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 177.9% YoY to 13.4x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.67 | 3.99 | 4.21 | 147.49 | 33.85 | 5.87 | 104.53 | — | 5.79 | — | — | 18.84 | — |
| — | -31.9% | -96.0% | — | +484.5% | — | — | — | — | — | — | +602.9% | — | |
| P/S Ratio | 2.40 | 2.17 | 1.93 | 1.63 | 2.01 | 1.34 | 2.08 | 1.45 | 1.63 | 1.67 | 1.35 | 1.88 | 2.10 |
| — | +62.4% | -7.1% | +12.6% | +22.9% | -19.8% | +54.2% | -22.8% | -22.2% | +34.4% | -29.2% | -34.2% | -67.1% | |
| P/B Ratio | 0.89 | 0.96 | 0.84 | 0.87 | 0.91 | 0.82 | 0.83 | 0.85 | 0.86 | 0.85 | 0.87 | 0.83 | 0.79 |
| — | +16.9% | +1.5% | +2.3% | +6.4% | -3.6% | -5.0% | +1.9% | +9.2% | -1.7% | +29.3% | +2.5% | -12.4% | |
| P/FCF | — | 8.24 | — | 20.59 | — | 0.99 | — | 6.70 | 2.09 | 6.36 | 1.38 | 2.58 | — |
| — | +735.3% | — | +207.2% | — | -84.5% | — | +159.9% | — | -84.8% | +69.8% | -51.3% | — | |
| EV / EBITDA | 18.32 | 13.42 | 4.97 | 7.84 | 7.25 | 4.83 | 5.74 | 5.90 | 3.98 | 32.75 | 10.15 | 4.51 | — |
| — | +177.9% | -13.4% | +32.9% | +82.2% | -85.3% | -43.5% | +30.7% | — | — | -64.8% | +15.4% | — | |
| EV / EBIT | 18.33 | 13.43 | 4.99 | 7.90 | 7.30 | 4.83 | 5.77 | 5.95 | 4.00 | 32.78 | 10.30 | 4.54 | — |
| — | +177.9% | -13.6% | +32.8% | +82.8% | -85.3% | -44.0% | +31.0% | — | — | -66.4% | +12.9% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Annaly Capital Management, Inc.'s operating margin was 130.5% in Q4 2025, up 2.2 pp QoQ and up 46.7 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 102.3% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.9% | 99.9% | 99.0% | 99.0% | 98.8% | 99.9% | 98.9% | 98.9% | 99.1% | 99.9% | 99.2% | 98.9% | 99.1% |
| — | -0.0% | +0.2% | +0.1% | -0.3% | +0.0% | -0.3% | -0.1% | -0.0% | -0.0% | +0.1% | +0.6% | +1.5% | |
| Operating Margin | 102.6% | 130.5% | 128.3% | 67.4% | 83.1% | 83.8% | 103.5% | 68.5% | 103.6% | 45.1% | 28.4% | 85.7% | -2.6% |
| — | +55.8% | +24.0% | -1.5% | -19.9% | +85.8% | +264.4% | -20.1% | +4015.2% | +526.9% | +119.9% | -37.4% | -100.5% | |
| Net Margin | 30.3% | 56.7% | 51.1% | 3.2% | 8.3% | 24.7% | 5.3% | -0.6% | 30.7% | -27.8% | -32.6% | 12.7% | -75.7% |
| — | +129.4% | +859.2% | +653.8% | -72.8% | +188.8% | +116.3% | -104.5% | +140.5% | +37.7% | -14.7% | -88.4% | -115.1% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.1% | 6.5% | 5.8% | 0.4% | 1.0% | 3.8% | 0.6% | -0.1% | 4.1% | -3.7% | -5.0% | 1.4% | -7.3% |
| — | +70.3% | +947.4% | +616.2% | -76.2% | +204.2% | +111.2% | -105.9% | +155.9% | +53.9% | -99.5% | -81.7% | -144.3% | |
| ROA | 1.7% | 0.8% | 0.7% | 0.1% | 0.1% | 0.5% | 0.1% | -0.0% | 0.5% | -0.4% | -0.6% | 0.2% | -1.0% |
| — | +64.9% | +927.2% | +615.7% | -76.2% | +206.5% | +110.8% | -105.4% | +150.1% | +58.4% | -81.5% | -83.6% | -137.9% | |
| ROIC | 6.4% | 2.1% | 3.7% | 2.3% | 2.6% | 3.7% | 3.2% | 3.1% | 2.1% | 0.9% | 1.7% | 4.1% | -0.0% |
| — | -44.7% | +16.6% | -23.4% | +26.7% | +313.8% | +87.4% | -25.3% | +4651.1% | +376.2% | +243.0% | -1.5% | -100.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Annaly Capital Management, Inc.'s Debt/EBITDA ratio is 47.9x, up from 14.0x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.92 | 6.92 | 1.96 | 1.98 | 1.87 | 1.69 | 1.58 | 1.56 | 1.34 | 6.84 | 1.06 | 0.91 | 0.82 |
| — | +309.8% | +24.6% | +26.9% | +39.0% | -75.3% | +49.4% | +72.1% | +64.5% | +13.7% | +27.2% | +22.7% | +0.7% | |
| Debt / EBITDA | 16.28 | 47.91 | 14.03 | 21.96 | 19.64 | 13.11 | 15.22 | 15.47 | 9.83 | 118.38 | 22.66 | 9.49 | — |
| — | +265.4% | -7.8% | +41.9% | +99.8% | -88.9% | -32.8% | +63.0% | — | — | -67.6% | +25.9% | — | |
| Current Ratio | 0.03 | 0.03 | 0.04 | — | — | — | — | — | — | — | — | — | 0.76 |
| — | — | — | — | — | — | — | — | — | — | — | — | +247.4% | |
| Quick Ratio | 0.03 | 0.03 | 0.04 | — | — | — | — | — | — | — | — | — | 0.88 |
| — | — | — | — | — | — | — | — | — | — | — | — | +62.3% | |
| Interest Coverage | 1.42 | 1.76 | 1.66 | 1.05 | 1.13 | 1.42 | 1.06 | 1.00 | 1.42 | 0.63 | 0.47 | 1.18 | -0.04 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Annaly Capital Management, Inc.'s current P/E is 7.7x. The average P/E over the last 4 quarters is 47.4x. 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.