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NLY stock logo

NLY

Annaly Capital Management, Inc.

$18.93
0.7
 (3.84%)
Exchange:  NYSE
Market Cap:  14.914B
Shares Outstanding:  639.513M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Real EstateView sector performance
Industry:  REIT – MortgageView industry performance
   
CEO:  David L. Finkelstein
Full Time Employees:  212
Address: 
1211 Avenue of the Americas
New York City
NY
10036
US
Website:  https://www.annaly.com
Annaly Capital Management, Inc. (NLY) operates as a multifaceted financial firm, specializing in managing capital across various sectors. Its core business encompasses mortgage-related investments and lending to middle-market corporations. NLY strategically deploys capital across a diverse range of assets, including government-sponsored (Agency) and privately-issued (non-Agency) mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights, credit risk transfer instruments, corporate debt, and other commercial real estate investments. Operating as a Real Estate Investment Trust (REIT), Annaly benefits from a particular tax structure. This designation exempts it from federal corporate income tax, provided it distributes the majority of its taxable earnings to its investors. Established in 1996, the firm’s corporate headquarters are located in New York City.

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Revenue Segmentation

Revenue by type

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NLY full analysis

18/06/2025

Welcome to MARKETSNAP’s SWOT analysis for Annaly Capital Management, or NLY as it’s known on the ticker. If you’re not familiar with this player in the financial space, let me give you the quick rundown. Annaly Capital Management is a real estate investment trust, or REIT, specializing in mortgage-backed securities. They operate in the broader real estate and financial services sector, focusing on generating income through investments in residential and commercial mortgage assets. With a solid market cap and a…

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
NLNLY logoNLYAnnaly Capital Management, Inc.14.9B12.76.14.6%
AGAGNC logoAGNCAGNC Investment Corp.11.3B1245.82.9%
STSTWD logoSTWDStarwood Property Trust, Inc.4.8B18.28.82.2%
RWRWTN logoRWTNRedwood Trust, Inc. 9.125% Seni2.9B—26.15.9%
DXDX logoDXDynex Capital, Inc.2.8B48.47.52.7%
BXBXMT logoBXMTBlackstone Mortgage Trust, Inc.1.9B—10.42.6%

EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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View full analyst estimates

Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/10/21 — Q3 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue5,607,8936,355,2756,695,524
Gross Profit5,558,2816,294,5636,690,144
EBITDA2,268,7485,649,6226,902,561
Operating Income2,243,9425,619,2666,868,525
Net Income-1,643,1711,001,9062,027,262

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets93,227,236103,556,384135,609,837.999
Total Liabilities81,882,14590,859,432119,449,927
Total Stockholders Equity11,255,79312,609,24116,090,772
Total Debt13,204,17321,445,494111,859,476
Cash and Cash Equivalents275,850285,1472,037,838

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow2,367,2033,310,659692,911
Capital Expenditure-396,806-863,1170
Free Cash Flow1,970,3972,447,542692,911
Net Income-1,638,4571,011,7682,027,262
Net Change in Cash-164,56675,879549,811

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)2,774,231.739Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)2,903,479.260Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)2,838,855.500Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)2,612,440.368Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)3,227,800.829Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)2,920,120.598Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)1,774,060.146Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)2,260,194.910Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)2,017,127.528Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)0Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)0Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)0Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)3.080Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)3.530Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)2.770Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)3Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
6.355B  ?P/S
 (TTM)
: 
1.84
?Net Income
 (TTM)
: 
1.002B  ?P/E
 (TTM)
: 
12.66
?Enterprise Value
 (TTM)
: 
139.413B  ?EV/FCF
 (TTM)
: 
-6268.56
?Dividend Yield
 (TTM)
: 
15.91%  ?Payout Ratio
 (TTM)
: 
142.05%
?ROE
 (TTM)
: 
6.97%  ?ROIC
 (TTM)
: 
4.64%
?Net Debt
 (TTM)
: 
88.146B  ?Debt/Equity
 (TTM)
: 
8.04
?P/B
 (TTM)
: 
0.88  ?Current Ratio
 (TTM)
: 
0.03

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
6.05Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

Strengths (preview)

  • Robust Revenue Performance: Based on the income statement data, NLY has demonstrated consistent revenue generation, which supports its operational stability. This is a critical strength in the real estate investment trust (REIT) sector, where steady income streams are essential for sustaining dividend payouts.
  • High Dividend Yield: The key metrics indicate a strong dividend yield (dividendYieldTTM), appealing to income-focused investors. This positions NLY favorably against competitors in the mortgage REIT industry, where yield is a primary attraction for shareholders.
  • Solid Liquidity Position: The balance sheet data shows a healthy level of cash and cash equivalents alongside a reasonable current ratio (currentRatioTTM), suggesting NLY is well-equipped to manage short-term obligations and maintain financial flexibility.

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates NLY intrinsic value between $51.87 – $60.36 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate NLY Intrinsic Value

Common questions about NLY valuation

Is Annaly Capital Management, Inc. (NLY) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for Annaly Capital Management, Inc. (NLY) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is NLY a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NLY trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is NLY’s P/E ratio?

You can see NLY’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for NLY?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is NLY a good long-term investment?

Whether NLY fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for Annaly Capital Management, Inc.

  • Annaly Capital Management, Inc. intrinsic value calculatorEstimate what the business is worth
  • Annaly Capital Management, Inc. 5-year outlookWhat has to go right, and what could go wrong
NLY

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

3.84
MarketSnap

Trading Metrics:

Open: 18.66   Previous Close: 18.23
Day Low: 18.56   Day High: 19.06
Year Low: 17.7   Year High: 24.52
Price Avg 50: 20.11   Price Avg 200: 21.89
Volume: 12.381M   Average Volume: 9.417M

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See in Nexus

Relevant news

Annaly Capital: Great Dividend, But Wait For A Discount Valuation
23-10-2026 18:20
Annaly Capital: Great Dividend, But Wait For A Discount Valuation
NLY Q3 Earnings Call Highlights Dividend Stability and Market Risks
23-10-2026 10:01
NLY Q3 Earnings Call Highlights Dividend Stability and Market Risks
Annaly Capital: 3 Key Takeaways for Long-Term Investors
21-10-2026 13:42
Annaly Capital: 3 Key Takeaways for Long-Term Investors
What Annaly Capital Management (NLY) Said on Its Q3 Earnings Call
21-10-2026 13:05
What Annaly Capital Management (NLY) Said on Its Q3 Earnings Call
Annaly Q3 Earnings on the Deck: What's in Store for the Stock?
19-10-2026 10:05
Annaly Q3 Earnings on the Deck: What's in Store for the Stock?
Annaly Capital Management (NLY) Stock Dips While Market Gains: Key Facts
01-10-2026 19:15
Annaly Capital Management (NLY) Stock Dips While Market Gains: Key Facts

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