(NLY) Annaly Capital Management - Overview

Sector: Real Estate | Industry: REIT - Mortgage | Exchange: NYSE (USA) | Market Cap: 14.921m USD | Total Return: 15.9% in 12m

Stock Mortgage-Backed Securities, Whole Loans, Servicing Rights, REIT
Total Rating 37
Risk 34
Buy Signal -0.34
REIT - Mortgage +11.4
Mortgage REITs +9.9
Market Cap: 14,921m
Avg Trading Vol: 177M USD
ATR: 2.56%
Peers RS (IBD): 81.3
Risk 5d forecast
Volatility22.9%
Rel. Tail Risk1.90%
Reward TTM
Sharpe Ratio0.66
Alpha5.47
Character TTM
Beta0.682
Beta Downside0.691
Drawdowns 3y
Max DD26.70%
CAGR/Max DD0.67
EPS (Earnings per Share) EPS (Earnings per Share) of NLY over the last years for every Quarter: "2021-03": 1.16, "2021-06": 1.2, "2021-09": 1.12, "2021-12": 1.12, "2022-03": 1.12, "2022-06": 1.2, "2022-09": 1.06, "2022-12": 0.89, "2023-03": 0.81, "2023-06": 0.72, "2023-09": 0.66, "2023-12": 0.68, "2024-03": 0.64, "2024-06": 0.68, "2024-09": 0.66, "2024-12": 0.72, "2025-03": 0.72, "2025-06": 0.73, "2025-09": 0.73, "2025-12": 0.74, "2026-03": 0,
EPS CAGR: -53.50%
EPS Trend: -66.6%
Last SUE: -4.00
Qual. Beats: 0
Revenue Revenue of NLY over the last years for every Quarter: 2021-03: 1986.42, 2021-06: 454.191, 2021-09: -924.403, 2021-12: 540.878, 2022-03: 403.612, 2022-06: 789.176, 2022-09: 968.829, 2022-12: 1988.349, 2023-03: 1114.746, 2023-06: 1316.783, 2023-09: 1725.311, 2023-12: 1451.054, 2024-03: 1510.223, 2024-06: 1645.523, 2024-09: 1248.097, 2024-12: 1951.432, 2025-03: 1487.88, 2025-06: 1789.085, 2025-09: 1630.116, 2025-12: 1788.323, 2026-03: null,
Rev. CAGR: 48.73%
Rev. Trend: 67.2%
Last SUE: 2.56
Qual. Beats: 1
Description: NLY Annaly Capital Management February 27, 2026

Annaly Capital Management (NLY) is a diversified REIT that focuses on the residential mortgage-finance market, investing across agency mortgage-backed securities, non-agency whole loans, mortgage servicing rights, and credit-risk-transfer securities while benefiting from REIT tax treatment that exempts it from federal income tax on distributed earnings.

As of the most recent quarter (Q4 2025), Annaly reported a dividend yield of 7.2% and a net asset value (NAV) of $13.5 billion, reflecting a 4.1% increase YoY driven by higher yields on its agency MBS holdings. The portfolio’s weighted-average coupon sits at 3.85%, positioning the firm to capture spread gains as the Federal Reserve’s policy rate stabilizes around 5.25%.

Key sector drivers include the Fed’s interest-rate outlook, which directly impacts net interest margins, and the housing market’s resilience, which supports demand for agency securities. Additionally, tightening credit-risk-transfer pricing continues to enhance earnings potential for mortgage REITs like Annaly.

For a deeper quantitative view, you might find it useful to explore ValueRay’s analytics platform.

Headlines to Watch Out For
  • Interest rate fluctuations impact net interest margin
  • Mortgage-backed securities valuations affect asset base
  • Residential housing market health influences loan performance
  • Regulatory changes for REITs alter tax efficiency
Piotroski VR‑10 (Strict, 0-10) 2.0
Net Income: 2.03b TTM > 0 and > 6% of Revenue
FCF/TA: -0.00 > 0.02 and ΔFCF/TA -2.53 > 1.0
NWC/Revenue: -1.22k% < 20% (prev 13.45%; Δ -1.24k% < -1%)
CFO/TA 0.01 > 3% & CFO 692.9m > Net Income 2.03b
Net Debt (109.82b) to EBITDA (6.90b): 15.93 < 3
Current Ratio: 0.03 > 1.5 & < 3
Outstanding Shares: last quarter (695.0m) vs 12m ago 21.80% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 5.60% > 50% (prev 6.14%; Δ -0.54% > 0%)
Interest Coverage Ratio: 1.42 > 6 (EBITDA TTM 6.90b / Interest Expense TTM 4.82b)
Altman Z'' -4.01
A: -0.60 (Total Current Assets 2.96b - Total Current Liabilities 84.80b) / Total Assets 135.61b
B: -0.10 (Retained Earnings -13.16b / Total Assets 135.61b)
C: 0.06 (EBIT TTM 6.87b / Avg Total Assets 119.58b)
D: -0.11 (Book Value of Equity -13.64b / Total Liabilities 119.45b)
Altman-Z'' Score: -4.01 = D
Beneish M -3.58
DSRI: 0.27 (Receivables 926.7m/3.27b, Revenue 6.70b/6.36b)
GMI: 1.00 (GM 99.20% / 99.25%)
AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98)
SGI: 1.05 (Revenue 6.70b / 6.36b)
TATA: 0.01 (NI 2.03b - CFO 692.9m) / TA 135.61b)
Beneish M-Score: -3.58 (Cap -4..+1) = AAA
What is the price of NLY shares? As of March 31, 2026, the stock is trading at USD 21.26 with a total of 8,150,383 shares traded.
Over the past week, the price has changed by +0.14%, over one month by -8.52%, over three months by -4.79% and over the past year by +15.88%.
Is NLY a buy, sell or hold? Annaly Capital Management has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy NLY.
  • StrongBuy: 5
  • Buy: 4
  • Hold: 5
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the NLY price?
ISSUER TARGET UP/DOWN
Wallstreet Target Price 24.5 15%
Analysts Target Price 24.5 15%
NLY Fundamental Data Overview March 31, 2026
P/E Trailing = 7.113
P/E Forward = 6.9252
P/S = 6.2648
P/B = 1.0443
P/EG = 32.0303
Revenue TTM = 6.70b USD
EBIT TTM = 6.87b USD
EBITDA TTM = 6.90b USD
Long Term Debt = 31.93b USD (from longTermDebt, last quarter)
Short Term Debt = 81.87b USD (from shortTermDebt, last quarter)
Debt = 111.86b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 109.82b USD (from netDebt column, last quarter)
Enterprise Value = 124.74b USD (14.92b + Debt 111.86b - CCE 2.04b)
Interest Coverage Ratio = 1.42 (Ebit TTM 6.87b / Interest Expense TTM 4.82b)
EV/FCF = -561.5x (Enterprise Value 124.74b / FCF TTM -222.2m)
FCF Yield = -0.18% (FCF TTM -222.2m / Enterprise Value 124.74b)
FCF Margin = -3.32% (FCF TTM -222.2m / Revenue TTM 6.70b)
Net Margin = 30.28% (Net Income TTM 2.03b / Revenue TTM 6.70b)
 Gross Margin = unknown ((Revenue TTM 6.70b - Cost of Revenue TTM 53.5m) / Revenue TTM)
 Tobins Q-Ratio = 0.92 (Enterprise Value 124.74b / Total Assets 135.61b)
Interest Expense / Debt = 1.18% (Interest Expense 1.32b / Debt 111.86b)
Taxrate = 21.0% (US default 21%)
NOPAT = 5.43b (EBIT 6.87b * (1 - 21.00%))
Current Ratio = 0.03 (Total Current Assets 2.96b / Total Current Liabilities 84.80b)
Debt / Equity = 6.95 (Debt 111.86b / totalStockholderEquity, last quarter 16.09b)
Debt / EBITDA = 15.93 (Net Debt 109.82b / EBITDA 6.90b)
 Debt / FCF = -494.3 (out of range, set to none) (Net Debt 109.82b / FCF TTM -222.2m)
 Total Stockholder Equity = 14.34b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.70% (Net Income 2.03b / Total Assets 135.61b)
RoE = 14.13% (Net Income TTM 2.03b / Total Stockholder Equity 14.34b)
RoCE = 14.84% (EBIT 6.87b / Capital Employed (Equity 14.34b + L.T.Debt 31.93b))
RoIC = 13.30% (NOPAT 5.43b / Invested Capital 40.81b)
WACC = 1.81% (E(14.92b)/V(126.78b) * Re(8.38%) + D(111.86b)/V(126.78b) * Rd(1.18%) * (1-Tc(0.21)))
Discount Rate = 8.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 17.92%
 [DCF] Fair Price = unknown (Cash Flow -222.2m)
 EPS Correlation: -66.56 | EPS CAGR: -53.50% | SUE: -4.0 | # QB: 0
Revenue Correlation: 67.16 | Revenue CAGR: 48.73% | SUE: 2.56 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.74 | Chg7d=+0.001 | Chg30d=-0.008 | Revisions Net=+1 | Analysts=9
EPS current Year (2026-12-31): EPS=2.96 | Chg7d=+0.001 | Chg30d=-0.035 | Revisions Net=+0 | Growth EPS=+1.4% | Growth Revenue=+68.4%
EPS next Year (2027-12-31): EPS=2.96 | Chg7d=+0.001 | Chg30d=+0.001 | Revisions Net=+1 | Growth EPS=+0.1% | Growth Revenue=+35.2%
[Analyst] Revisions Ratio: +1.00 (1 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -5.7% (Discount Rate 8.4% - Earnings Yield 14.1%)
[Growth] Growth Spread = +97.8% (Analyst 92.1% - Implied -5.7%)
Additional Sources for NLY Stock Fund Manager Positions: Dataroma · Stockcircle