Ladder Capital Corp (LADR) vs Annaly Capital Management Inc (NLY)

Ladder Capital Corp and Annaly Capital Management Inc are both Reit Mortgage companies. Annaly Capital Management Inc is the larger, with a market value of $14.9B against $1.2B — 12.9× the size. Ladder Capital Corp trades at the lower P/E: 11.4× against 13.2×. Annaly Capital Management Inc grew revenue faster over the last twelve months: 5.50% against −12.4%. Ladder Capital Corp has the higher net margin (109.5% vs 14.2%) and the lower return on invested capital (0.42% vs 5.25%). Both pay a dividend; Annaly Capital Management Inc yields more (15.4% vs 10.1%). Across the 21 metrics below, Ladder Capital Corp leads on 11 and Annaly Capital Management Inc on 10.

Valuation

Metric LADR NLY Reit Mortgage median
P/E 11.39 13.20 14.55
P/S 12.52 2.15 1.72
P/B 0.77 1.02 0.52
Price to free cash flow 4.65 4.76 4.35
EV/EBITDA 56.93 n/m 28.27
EV/Sales 59.91 2.18 15.73
Earnings yield 8.78% 7.58% 0.23%
Free cash flow yield 21.53% 21.01% 13.86%

Profitability

Metric LADR NLY Reit Mortgage median
Gross margin 100.00% 20.33% 100.00%
Operating margin 43.19% 0.00% 31.94%
Net margin 109.47% 14.18% (1.81%)
Free cash flow margin 270.85% 44.27% 27.05%
Return on equity 6.70% 6.98% (0.49%)
Return on assets 1.84% 0.70% (0.06%)
Return on invested capital 0.42% 5.25% 0.79%

Growth

Metric LADR NLY Reit Mortgage median
Revenue growth (TTM) (12.44%) 5.50% 1.39%
EPS growth (last fiscal year) (40.70%) 80.25% 45.25%
Revenue growth, 5-year CAGR 49.36% 103.38% 14.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LADR NLY Reit Mortgage median
Debt to equity 2.98 0.00 2.91
Current ratio 49.89 0.12 0.82
Net debt to EBITDA 36.15 0.00 18.31

Dividend

Metric LADR NLY Reit Mortgage median
Dividend yield 10.09% 15.37% 17.37%
Payout ratio 1.15 2.03 1.87

Size

Metric LADR NLY Reit Mortgage median
Market cap 1.15b 14.85b 409.49m

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