Saturday 17 October 2026 Export NLY’s income statement to Excel — free account

Annaly Capital Management Inc

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%

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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 6.99

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	—	—	4	—	1	1	—	—	1	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 13,890.00

Revenue 8,358.52

Net Income 2,979.30

Free Cash Flow (127.55)

Net Debt (2,945.13)

Current Ratio 0.13

Debt/Equity 0.00

P/E ratio 4.56

Fwd P/E 7.02

P/S ratio 1.61

P/B ratio 0.89

Past 5Y EPS Growth —

This Y EPS Growth 5.99%

Next Y EPS Growth 0.78%

Next Y revenue growth (69.54%)

Next 5Y EPS Growth 1.27%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 42.47%

10-year low 10-year high

P/S against its own 10 years 0.21%

10-year low 10-year high

P/B against its own 10 years 16.81%

10-year low 10-year high

EV/Sales against its own 10 years 0.17%

10-year low 10-year high

Dividends

Payout Ratio 0.73

Annual Dividend Rate 2.90

Annual Dividend Yield 15.91%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.94	0.70 0.75 0.75
2025	2.80	0.70 0.70 0.70 0.70
2024	2.60	0.65 0.65 0.65 0.65
2023	2.60	0.65 0.65 0.65 0.65
2022	3.52	0.88 0.88 0.88 0.88
2021	3.52	0.88 0.88 0.88 0.88
2020	3.64	1.00 0.88 0.88 0.88
2019	4.20	1.20 1.00 1.00 1.00
2018	4.80	1.20 1.20 0.89 0.31 1.20
2017	4.80	1.20 1.20 1.20 1.20
2016	4.80	1.20 1.20 0.14 1.06 1.20

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,412	1,488	2,072	2,945
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	7,698	8,305	8,021	11,177

	2023	2024	2025	Q'26
Payables	3,249	308	2,059	332
ST’ Debt	—	—	—	—
Other	—	—	—	—
	65,739	66,266	84,306	87,648

Compound Annual Growth %

	10y	5y	3y
Sales	20.06%	103.38%	29.63%
Cash Flow	0.00%	5.59%	(49.48%)
Earnings	16.83%	0.00%	5.00%
Book Value	3.10%	2.88%	12.43%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,614	2,217	—	—	—
’25	1,284	1,257	2,142	2,386	7,068
’24	1,604	1,172	1,336	1,679	5,791
’23	11	1,172	530	693	2,406
’22	2,171	1,093	160	(180)	3,244
’21	1,875	(175)	609	528	2,836
’20	(3,086)	1,109	1,185	995	203

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,401)	1,619	—	—	—
’25	(156)	181	24	644	693
’24	1,698	477	(1,673)	2,808	3,311
’23	(1,019)	1,137	1,871	379	2,367
’22	2,029	688	2,454	202	5,372
’21	1,065	506	644	862	3,077
’20	(2,023)	683	1,000	868	528

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,902)	1,563	—	—	—
’25	(542)	142	418	(206)	(188)
’24	1,182	478	(1,608)	1,945	2,514
’23	(1,055)	923	1,871	(18)	1,970
’22	2,029	1,837	2,454	(799)	4,372
’21	1,069	560	644	879	3,148
’20	(2,023)	1,193	1,000	1,017	678

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.33	1.06	—	—	—
’25	0.15	0.03	1.20	1.40	2.92
’24	0.85	(0.09)	0.05	0.78	1.62
’23	(1.79)	0.27	(1.21)	(0.88)	(3.61)
’22	5.44	2.20	(0.70)	(1.96)	3.92
’21	4.92	(0.92)	1.36	1.08	6.40
’20	(10.28)	2.32	2.80	2.40	(2.92)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	33.00	39.80	38.28	32.28	14.04	30.68	15.11	14.52	17.67	16.60	Analyst estimates 2026–2028 Powerpack
	High	45.16	50.92	47.68	42.04	42.00	38.56	32.72	24.43	21.11	23.38
People
People	Employees	189	152	170	175	180	171	161	187	191	212
	Revenue/emp, $m	12.38	18.48	13.41	5.04	1.13	16.59	20.15	12.87	30.32	33.34
Income, $m
Income, $m	Revenue	2,339	2,808	2,280	883	203	2,836	3,244	2,406	5,791	7,068
	Gross margin, %	71.88	64.10	16.74	(215.49)	(342.67)	91.21	59.63	(59.69)	20.70	31.75
	EBT	1,431	1,576	52	(2,174)	(918)	2,401	1,772	(1,599)	1,027	2,045
	EBT margin, %	61.18	56.12	2.27	(246.28)	(452.06)	84.65	54.62	(66.45)	17.74	28.93
	Net income	1,433	1,569	54	(2,163)	(890)	2,396	1,726	(1,638)	1,012	2,052
	Depreciation	851	165	765	1,133	1,401	802	103	224	147	245
Per share, $
Per share, $	Revenue	9.65	10.54	7.54	2.46	0.57	7.95	7.89	4.87	11.10	11.05
	Earnings	5.56	5.48	—	(6.40)	(2.92)	6.40	3.93	(3.61)	1.62	2.92
	Cash flow	6.52	6.13	8.67	(3.34)	1.49	8.62	13.06	4.79	6.35	1.08
	Capex	0.00	0.00	0.00	0.07	0.42	0.20	(2.43)	(0.80)	(1.53)	(1.38)
	Free cash flow	6.52	6.13	8.67	(3.27)	1.92	8.82	10.63	3.98	4.82	(0.29)
	Book value	51.87	55.81	46.69	44.03	39.65	36.98	27.64	22.94	24.34	25.27
	Shares, m	242	266	302	359	354	357	411	495	522	640
Valuation, ×
Valuation, ×	P/E	8.33	8.77	61.38	0.00	0.00	4.86	4.27	0.00	11.51	8.01
	P/S	4.18	4.43	5.21	15.31	58.85	3.94	2.72	3.96	1.65	2.02
	P/B	0.86	0.95	0.96	0.98	0.96	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/FCF	7.52	9.01	4.90	(0.33)	(0.32)	(1.44)	(0.33)	28.04	5.12	(112.60)
Cash, $m
Cash, $m	Operating cash flow	1,581	1,632	2,622	(1,200)	528	3,077	5,372	2,367	3,311	693
	Capex	(174)	(11)	0	25	150	71	(1,000)	(397)	(797)	(881)
	Free cash flow	1,581	1,632	2,622	(1,175)	678	3,148	4,372	1,970	2,514	(188)
Balance, $m
Balance, $m	Working capital	(63,245)	(73,919)	(74,289)	(94,728)	(60,405)	5,731	(56,397)	(58,041)	(57,960)	(76,285)
	Total debt	3,656	2,972	3,347	5,623	5,653	59,925	7,744	13,733	2,471	—
	Net debt	2,116	2,265	961	3,772	4,409	58,583	(1,577)	(1,412)	983	(2,072)
	Shareholders’ equity	12,576	14,872	14,118	15,796	14,022	13,195	11,369	11,345	12,697	16,160
Returns, %
Returns, %	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
	ROE	12.08	11.91	(0.59)	(17.58)	(7.86)	18.91	15.03	(18.17)	8.08	14.65

Negative figures in brackets.

value withheld pending a data check

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NLY Annaly Capital Management Inc	$13.9B	4.6×	7.0×	+76.43% (above 0%: growing)	+3,433.33% (above 0%: growing)	+1,001.47% (above 0%: growing)	40.28%	0.00%
AGNC AGNC Investment Corp.	$10.5B	4.5×	9.4×	+22.17% (above 0%: growing)	n/m	+21.11% (above 0%: growing)	30.08%	64.50%	Compare
RITM Rithm Capital Corp.	$4.9B	12.3×	7.5×	−22.48% (below 0%: shrinking)	−77.48% (below 0%: shrinking)	+117.58% (above 0%: growing)	100.00%	79.13%	Compare
STWD STARWOOD PROPERTY TRUST, INC.	$4.7B	21.1×	17.8×	+15.62% (above 0%: growing)	−97.37% (below 0%: shrinking)	+72.68% (above 0%: growing)	27.80%	(2.16%)	Compare
DX Dynex Capital, Inc.	$2.8B	4.1×	28.2×	+170.93% (above 0%: growing)	n/m	+163.96% (above 0%: growing)	100.00%	94.64%	Compare
ARR ARMOUR Residential REIT, Inc.	$1.9B	3.5×	8.3×	+45.88% (above 0%: growing)	n/m	+741.92% (above 0%: growing)	100.00%	93.50%	Compare
BXMT Blackstone Mortgage Trust, Inc.	$1.8B	117×	22.4×	−3.29% (below 0%: shrinking)	n/m	+3.93% (above 0%: growing)	78.86%	71.19%	Compare
EFC Ellington Financial Inc.	$1.5B	7.1×	6.4×	+47.95% (above 0%: growing)	−4.44% (below 0%: shrinking)	+108.89% (above 0%: growing)	95.69%	125.46%	Compare
LADR Ladder Capital Corp	$1.1B	21.7×	19.0×	+4.91% (above 0%: growing)	−14.29% (below 0%: shrinking)	−9.50% (below 0%: shrinking)	100.00%	60.88%	Compare
Median of peers	$2.3B	9.7×	13.6×	+18.90%	−45.89%	+90.79%	97.85%	75.16%

All 37 Reit Mortgage stocks →

Annaly Capital Management Inc (NLY) key facts

Strength: Annaly Capital Management Inc’s revenue for fiscal 2025 (year ended December 2025) was $7.1 billion, up 22.1% from fiscal 2024.
Annaly Capital Management Inc (NLY) is a Reit Mortgage company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, NLY traded at $18.23, a market capitalization of $13.9 billion.
Annaly Capital Management Inc pays an annual dividend of $2.90 per share, a yield of 15.9%, with a payout ratio of 72.7%.
Return on equity was 14.7% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.