Annaly Capital Management Inc (NLY)
Annaly Capital Management, Inc., a diversified capital manager, engages in the residential mortgage finance business. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage-backed securities; residential mortgage loans; and agency or private label credit risk transfer securities. It has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders. Annaly Capital Management, Inc. was incorporated in 1996 and is based in New York, New York.
- Symbol
- NLY
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- REIT - Mortgage
- Market cap
- $16.09B
- 52 week range
- 20 - 24.52
Valuation
- Share price
- $21.44 (close of 2026-09-22)
- P/E (TTM)
- 5.19x
- Price to book
- 0.95x
- Price to free cash flow
- 18.15x
- Enterprise value
- $51.23B
- Book value per share
- $22.62
Price performance
| Period | Change |
|---|
| 1 day | +0.61% |
| 5 days | +0.14% |
| 1 month | -7.43% |
| 3 months | -3.25% |
| 6 months | +3.13% |
| Year to date | -4.11% |
| 1 year | +2.73% |
| 3 years | +7.85% |
| 5 years | -39.50% |
| 10 years | -50.51% |
| All time | -57.54% |
Profitability and growth
- Return on equity
- 12.55%
- Return on assets
- 1.49%
- Net income growth
- 102.34%
- Free cash flow growth
- -79.07%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 5.51%
- Net debt to EBITDA
- 4.33x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- EBITDA
- $6.84B
- Net income
- $2.03B
- Earnings per share
- $2.92
- Interest expense
- $4.82B
- Shares outstanding
- 639.51M
Income statement by year
| Period end | Net income | EPS |
|---|
| 2025-12-31 | $2.03B | $2.92 |
| 2024-12-31 | $1.00B | $1.62 |
| 2023-12-31 | $-1.64B | $-3.61 |
| 2022-12-31 | $1.73B | $3.93 |
| 2021-12-31 | $2.39B | $6.40 |
| 2020-12-31 | $-891.16M | $-2.92 |
| 2019-12-31 | $-2.16B | $-6.40 |
| 2018-12-31 | $54.41M | $-0.24 |
| 2017-12-31 | $1.57B | $5.48 |
| 2016-12-31 | $1.43B | $5.56 |
Margins and returns by year
| Period end | Return on equity |
|---|
| 2025-12-31 | 12.55% |
| 2024-12-31 | 7.89% |
| 2023-12-31 | -14.48% |
| 2022-12-31 | 15.18% |
| 2021-12-31 | 18.11% |
| 2020-12-31 | -6.36% |
| 2019-12-31 | -13.69% |
| 2018-12-31 | 0.39% |
| 2017-12-31 | 10.55% |
| 2016-12-31 | 11.40% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $2.04B | - |
| 2024-12-31 | $1.49B | - |
| 2023-12-31 | $1.41B | - |
| 2022-12-31 | $1.58B | - |
| 2021-12-31 | $1.34B | - |
| 2020-12-31 | $1.24B | $429.65M |
| 2019-12-31 | $1.85B | $490.63M |
| 2018-12-31 | $1.74B | - |
| 2017-12-31 | $706.59M | $312.50M |
| 2016-12-31 | $1.54B | $314.87M |
Free cash flow by year
| Period end | Free cash flow |
|---|
| 2025-12-31 | $692.91M |
| 2024-12-31 | $3.31B |
| 2023-12-31 | $2.37B |
| 2022-12-31 | $5.37B |
| 2021-12-31 | $3.08B |
| 2020-12-31 | $527.97M |
| 2019-12-31 | $-1.20B |
| 2018-12-31 | $2.62B |
| 2017-12-31 | $1.63B |
| 2016-12-31 | $1.58B |
Dividend history
- Most recent payment
- 2026-06-30
- Paid in the last twelve months
- $2.85
| Payment date | Dividend per share |
|---|
| 2026-06-30 | $0.75 |
| 2026-03-31 | $0.70 |
| 2025-12-31 | $0.70 |
| 2025-09-30 | $0.70 |
| 2025-06-30 | $0.70 |
| 2025-03-31 | $0.70 |
| 2024-12-31 | $0.65 |
| 2024-09-30 | $0.65 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-28
- Consensus EPS estimate
- $0.78
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-21 | Jun/2026 | $0.75 |
| 2026-04-21 | - | - |
| 2026-01-28 | - | - |
| 2025-10-22 | - | - |
| 2025-07-23 | - | - |
| 2025-04-30 | - | - |
| 2025-01-29 | - | - |
| 2024-10-23 | - | - |
Filings and sources
- Company website
- annaly.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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