Annaly Capital Management, Inc. (NLY) P/E Ratio History
Historical price-to-earnings valuation from 1998 to 2025
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NLY Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Annaly Capital Management, Inc. (NLY) trades at a price-to-earnings ratio of 7.7x, with a stock price of $22.38 and trailing twelve-month earnings per share of $2.92.
The current P/E is 19% below its 5-year average of 9.5x. Over the past five years, NLY's P/E has ranged from a low of 2.1x to a high of 59.9x, placing the current valuation at the 65th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.1x, NLY trades at a 68% discount to its sector peers. The sector includes 170 companies with P/E ratios ranging from 1.1x to 165.1x.
Relative to the broader market, NLY trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NLY DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NLY P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $10B | 11.5 | - | +1760%Best | |
| $975M | 5.7 | - | +105% | |
| $5B | 9.3 | - | -38% | |
| $577M | 5.2 | - | +135% | |
| $3B | 5.4 | - | +66% | |
| $2B | 5.2 | - | +747% | |
| $1B | 12.3 | 0.41 | -28% | |
| $1B | 5.0Lowest | 0.10Best | +150% | |
| $1B | 11.0 | 0.44 | -13% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
NLY Historical P/E Data (1998–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $22.36 | $2.78 | 8.0x | -56% |
| FY2025 Q3 | $20.21 | $2.16 | 9.3x | -49% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $18.82 | $1.01 | 18.6x | +3% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $20.31 | $0.88 | 23.0x | +26% |
| FY2024 Q4 | $18.30 | $1.58 | 11.5x | -36% | |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $21.08 | $5.00 | 4.2x | -77% |
| FY2022 Q3 | Fri Sep 30 2022 00:00:00 GM | $17.16 | $8.03 | 2.1x | -88% |
| FY2022 Q2 | $23.64 | $10.09 | 2.3x | -87% | |
| FY2022 Q1 | $28.16 | $6.97 | 4.0x | -78% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $31.28 | $6.44 | 4.9x | -73% |
| FY2021 Q3 | $33.68 | $7.78 | 4.3x | -76% | |
| FY2021 Q2 | Wed Jun 30 2021 00:00:00 GM | $35.52 | $9.21 | 3.9x | -79% |
Average P/E for displayed period: 18.2x
Full NLY Stock Analysis
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Start ComparisonNLY — Frequently Asked Questions
Quick answers to the most common questions about buying NLY stock.
Is NLY stock overvalued or undervalued?
NLY trades at 7.7x P/E, near its 5-year average of 9.5x. The 65th percentile ranking places valuation within normal historical bounds.
How does NLY's valuation compare to peers?
Annaly Capital Management, Inc. P/E of 7.7x compares to sector median of 24.1x. The discount suggests lower growth expectations or higher risk.
What is NLY's PEG ratio?
NLY PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1998-2025.