Annaly Capital Management Inc

NLY Real Estate Reit Mortgage

Annaly Capital Management Inc’s revenue for fiscal 2025 (year ended December 2025) was $7.1 billion, up 22.1% from fiscal 2024. In the quarter to June 2026, revenue grew 76.4%, EPS grew 3,433.3% and free cash flow grew 1,001.5%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

18.23 0.20 −1.09%
Market cap
$13.9B
P/E
4.6×
Fwd P/E
7.0×
Dividend yield
15.9%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
6 6 3 1 4 7 5 4 7 6
P/E ratio
8.33 8.77 61.38 0.00 0.00 4.86 4.27 0.00 11.51 8.01
P/S ratio
4.18 4.43 5.21 15.31 58.85 3.94 2.72 3.96 1.65 2.02
P/FCF ratio
6.18 7.62 4.53 0.00 0.00 0.00 0.00 12.22 4.64 0.00
P/Operating CF
13.07 13.78 (29.61) 11.30 13.78 12.96 43.75 25.16 3.40 22.19
P/B ratio
0.86 0.95 0.96 0.98 0.96 0.96 0.90 0.97 0.86 1.00
Price to Tangible BV
0.92 0.95 0.97 0.99 0.97 0.96 0.90 0.97 0.86 1.00
EV/Sales
5.08 5.24 5.63 19.59 80.56 24.59 4.62 9.08 1.82 2.07
EV/EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EV/Operating CF
7.52 9.01 4.90 (14.41) 30.99 22.67 2.79 9.23 3.18 21.11
EV/FCF
7.52 9.01 4.90 (0.33) (0.32) (1.44) (0.33) 28.04 5.12 (112.60)
Quick Ratio
0.02 0.01 0.03 0.02 0.02 14.72 0.03 0.02 0.02 0.02
Current Ratio
0.04 0.05 0.09 0.07 0.07 63.85 0.08 0.12 0.13 0.10
Net Debt/EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt/Assets
4.16% 2.92% 3.16% 4.32% 6.39% 78.06% 0.00% 0.00% 2.39% 0.00%
Debt/Equity
0.29 0.20 0.24 0.36 0.40 4.54 0.00 0.00 0.19 0.00
Asset Turnover
0.03 0.03 0.02 0.01 0.00 0.03 0.04 0.03 0.06 0.06
Operating CF/Net income
1.17 1.12 (35.00) 0.52 (0.51) 1.35 3.33 (1.33) 3.91 0.37
Capex/Depreciation
0.00 0.00 0.00 0.02 0.11 0.09 (9.72) (1.77) (5.42) (3.59)
ROE
12.08% 11.91% (0.59%) (17.58%) (7.86%) 18.91% 15.03% (18.17%) 8.08% 14.65%
ROA
1.66% 1.54% (0.07%) (1.95%) (0.94%) 2.76% 2.04% (2.04%) 0.86% 1.56%
ROIC
6.09% 5.75% 0.21% (6.94%) (3.11%) 2.09% 11.31% (10.06%) 4.69% 9.07%
Return on Tangible Assets
(2.14%) (1.98%) 0.10% 2.43% 1.71% 39.83% (2.86%) 3.08% (1.46%) (2.45%)
Average Days of Receivables
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Research and Development Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
10.70% 7.98% 14.47% 30.79% 109.40% 6.56% 5.02% 6.75% 2.96% 2.82%
Intangible Assets out of Total Assets
0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Share Based Compensation of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Graham Net Nets
(7.47) (6.66) (7.09) (7.92) (5.84) (5.17) (7.47) (7.79) (8.65) (7.79)
Graham Number
71.48 76.86 24.24 0.00 0.00 68.80 51.96 0.00 27.66 37.54
Earnings Yield
12.00% 11.40% 1.63% (16.88%) (8.17%) 20.59% 23.41% (18.74%) 8.69% 12.48%
Free Cash Flow Yield
16.17% 13.12% 22.07% (390.92%) (421.85%) (433.24%) (520.52%) 8.18% 21.54% (0.91%)
Revenue per Share
9.65 10.54 7.54 2.46 0.57 7.95 7.89 4.87 11.10 11.05
Operating CF per Share
6.52 6.13 8.67 (3.34) 1.49 8.62 13.06 4.79 6.35 1.08
Capex per Share
0.00 0.00 0.00 0.07 0.42 0.20 (2.43) (0.80) (1.53) (1.38)
Free Cash Flow per Share
6.52 6.13 8.67 (3.27) 1.92 8.82 10.63 3.98 4.82 (0.29)
Cash per Share
6.35 2.65 7.89 5.16 3.52 3.76 3.83 2.86 2.85 3.24
Shareholders Equity per Share
51.87 55.81 46.69 44.03 39.65 36.98 27.64 22.94 24.34 25.27
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
51.87 55.81 46.69 44.03 39.65 36.98 27.64 22.94 24.34 25.27
Free Cash Flow
1,580.86 1,632.24 2,622.02 (1,174.60) 677.57 3,147.82 4,372.15 1,970.40 2,513.81 (188.05)
Working Capital
(63,244.82) (73,918.91) (74,288.89) (94,728.48) (60,404.85) 5,730.60 (56,396.79) (58,040.71) (57,960.11) (76,285.10)
Capital Expenditures
(174.00) (11.00) 0.00 24.96 149.60 70.98 (1,000.26) (396.81) (796.85) (880.96)
Net Current Asset Value
(73,010.75) (82,857.98) (84,271.82) (107,010.08) (69,821.79) (57,746.97) (65,882.35) (74,183.99) (82,554.02) (111,429.20)
EV/EBIT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capex to Sales
0.00 0.00 0.00 (0.03) (0.74) (0.02) 0.31 0.16 0.14 0.12
Price to Operating Income
6.83 7.89 229.43 0.00 0.00 4.65 4.98 0.00 9.30 6.99
Other line items
Depreciation/Fixed assets
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash ROIC
8.90% 8.80% 13.21% (5.05%) 3.24% 4.23% 33.77% 15.45% 15.09% (1.03%)
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
5.54 8.64 0.00 0.00 0.00 0.00 2.17 1.74 2.58 4.07
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Days of Payables
102.28 17.74 0.00 0.00 0.00 0.00 322.67 308.62 24.50 155.83
Days of Inventory on Hand
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Payables
118.70 116.66 — — — — 603.42 2,203.62 1,778.84 1,183.83
Average Assets
81,547.97 94,832.53 103,773.75 118,041.30 109,375.10 82,609.58 79,307.39 87,538.97 98,391.82 119,583.10
Average Common Equity
11,184.14 12,263.30 12,745.41 13,076.98 13,149.78 12,071.99 10,745.80 9,820.69 10,484.45 12,758.91

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