Overview Dividends

(NLY) Annaly Capital Management - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US0357108390

Mortgage-Backed Securities, Whole Loans, Servicing Rights, Forward Contracts, Credit Risk Securities

EPS (Earnings per Share)

EPS (Earnings per Share) of NLY over the last years for every Quarter: "2020-09": 1.28, "2020-12": 1.2, "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,
EPS CAGR: -6.95%
EPS Trend: -36.8%
Last SUE: 0.39σ
Qual. Beats: 0

Revenue

Revenue of NLY over the last years for every Quarter: 2020-09: 1167.23, 2020-12: 1006.19, 2021-03: 1986.42, 2021-06: -230.98, 2021-09: 565.239, 2021-12: 455.881, 2022-03: 2094.11, 2022-06: 919.817, 2022-09: -239.043, 2022-12: -824.526, 2023-03: -803.184, 2023-06: 218.379, 2023-09: -516.783, 2023-12: -350.599, 2024-03: 479.434, 2024-06: 41.885, 2024-09: 133.125, 2024-12: 539.105, 2025-03: 244.538, 2025-06: 1789.085, 2025-09: 2157.431,
Revenue CAGR: 345.52%
Revenue Trend: 77.4%
Last SUE: 1.44σ
Qual. Beats: 2
Risk via 10d forecast
Volatility 20.3%
Value at Risk 5%th 34.5%
Relative Tail Risk 3.35%
Reward TTM
Sharpe Ratio 1.14
Alpha 18.74
Character TTM
Hurst Exponent 0.520
Beta 0.701
Beta Downside 0.858
Drawdowns 3y
Max DD 32.46%
Mean DD 7.74%
Median DD 6.01%

Description: NLY Annaly Capital Management October 31, 2025

Annaly Capital Management (NYSE: NLY) is a diversified REIT that focuses on mortgage-finance investments. Its portfolio spans agency mortgage-backed securities (MBS) backed by residential mortgages, non-agency whole-loan and securitized assets, mortgage servicing rights, agency CMBS, forward contracts, and credit-risk-transfer securities. By electing REIT status, the firm avoids federal income tax on earnings it distributes to shareholders.

Key metrics as of the latest filing show a dividend yield near 7-8 % and a weighted-average coupon of roughly 3.5 % on its agency MBS holdings, making the fund highly sensitive to Federal Reserve rate moves and prepayment dynamics. The company’s total assets under management exceed $100 billion, and its net interest margin (NIM) has trended lower in a rising-rate environment, underscoring the importance of spread management and hedging effectiveness as primary performance drivers.

For a deeper dive into NLY’s valuation metrics and scenario analysis, you might explore the ValueRay platform.

NLY Stock Overview

Market Cap in USD 14,972m
Sub-Industry Mortgage REITs
IPO / Inception 1997-10-08
Return 12m vs S&P 500 13.6%
Analyst Rating 4.0 of 5

NLY Dividends

Metric Value
Dividend Yield 12.25%
Yield on Cost 5y 16.21%
Yield CAGR 5y 30.01%
Payout Consistency 87.9%
Payout Ratio 94.8%

NLY Growth Ratios

Metric Value
CAGR 3y 16.29%
CAGR/Max DD Calmar Ratio 0.50
CAGR/Mean DD Pain Ratio 2.10
Current Volume 10337.6k
Average Volume 7035k

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (1.50b TTM) > 0 and > 6% of Revenue (6% = 283.8m TTM)
FCFTA 0.02 (>2.0%) and ΔFCFTA 1.37pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue -1595 % (prev -165.6%; Δ -1429 pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.02 (>3.0%) and CFO 2.86b > Net Income 1.50b (YES >=105%, WARN >=100%)
Net Debt (29.14b) to EBITDA (6.17b) ratio: 4.72 <= 3.0 (WARN <= 3.5)
Current Ratio 0.04 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (622.8m) change vs 12m ago 20.50% (target <= -2.0% for YES)
Gross Margin 98.93% (prev 89.09%; Δ 9.84pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 4.16% (prev 0.30%; Δ 3.86pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 1.33 (EBITDA TTM 6.17b / Interest Expense TTM 4.65b) >= 6 (WARN >= 3)

Altman Z'' -4.05

(A) -0.60 = (Total Current Assets 3.06b - Total Current Liabilities 78.49b) / Total Assets 125.86b
(B) -0.11 = Retained Earnings (Balance) -13.63b / Total Assets 125.86b
(C) 0.05 = EBIT TTM 6.17b / Avg Total Assets 113.69b
(D) -0.13 = Book Value of Equity -14.24b / Total Liabilities 110.86b
Total Rating: -4.05 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 73.41

1. Piotroski 3.0pt
2. FCF Yield 4.43%
3. FCF Margin 41.29%
4. Debt/Equity 1.98
5. Debt/Ebitda 4.72
6. ROIC - WACC (= 10.90)%
7. RoE 11.10%
8. Rev. Trend 77.41%
9. EPS Trend -36.85%

What is the price of NLY shares?

As of November 26, 2025, the stock is trading at USD 22.44 with a total of 10,337,579 shares traded.
Over the past week, the price has changed by +4.08%, over one month by +6.05%, over three months by +10.29% and over the past year by +29.85%.

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.
  • Strong Buy: 5
  • Buy: 4
  • Hold: 5
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the NLY price?

Issuer Target Up/Down from current
Wallstreet Target Price 22.1 -1.5%
Analysts Target Price 22.1 -1.5%
ValueRay Target Price 27.1 20.6%

NLY Fundamental Data Overview November 26, 2025

Market Cap USD = 14.97b (14.97b USD * 1.0 USD.USD)
P/E Trailing = 9.6991
P/E Forward = 7.4794
P/S = 8.5917
P/B = 1.1458
P/EG = -3.61
Beta = 1.319
Revenue TTM = 4.73b USD
EBIT TTM = 6.17b USD
EBITDA TTM = 6.17b USD
Long Term Debt = 28.43b USD (from longTermDebt, last quarter)
Short Term Debt = 1.02b USD (from shortTermDebt, last quarter)
Debt = 29.46b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 29.14b USD (from netDebt column, last quarter)
Enterprise Value = 44.11b USD (14.97b + Debt 29.46b - CCE 320.3m)
Interest Coverage Ratio = 1.33 (Ebit TTM 6.17b / Interest Expense TTM 4.65b)
FCF Yield = 4.43% (FCF TTM 1.95b / Enterprise Value 44.11b)
FCF Margin = 41.29% (FCF TTM 1.95b / Revenue TTM 4.73b)
Net Margin = 31.62% (Net Income TTM 1.50b / Revenue TTM 4.73b)
Gross Margin = 98.93% ((Revenue TTM 4.73b - Cost of Revenue TTM 50.6m) / Revenue TTM)
Gross Margin QoQ = 99.27% (prev 99.49%)
Tobins Q-Ratio = 0.35 (Enterprise Value 44.11b / Total Assets 125.86b)
Interest Expense / Debt = 4.27% (Interest Expense 1.26b / Debt 29.46b)
Taxrate = -0.94% (negative due to tax credits) (-7.82m / 835.2m)
NOPAT = 6.23b (EBIT 6.17b * (1 - -0.94%)) [negative tax rate / tax credits]
Current Ratio = 0.04 (Total Current Assets 3.06b / Total Current Liabilities 78.49b)
Debt / Equity = 1.98 (Debt 29.46b / totalStockholderEquity, last quarter 14.91b)
Debt / EBITDA = 4.72 (Net Debt 29.14b / EBITDA 6.17b)
Debt / FCF = 14.92 (Net Debt 29.14b / FCF TTM 1.95b)
Total Stockholder Equity = 13.47b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.19% (Net Income 1.50b / Total Assets 125.86b)
RoE = 11.10% (Net Income TTM 1.50b / Total Stockholder Equity 13.47b)
RoCE = 14.72% (EBIT 6.17b / Capital Employed (Equity 13.47b + L.T.Debt 28.43b))
RoIC = 16.66% (NOPAT 6.23b / Invested Capital 37.38b)
WACC = 5.75% (E(14.97b)/V(44.43b) * Re(8.60%) + D(29.46b)/V(44.43b) * Rd(4.27%) * (1-Tc(-0.01)))
Discount Rate = 8.60% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.62%
[DCF Debug] Terminal Value 68.61% ; FCFE base≈1.24b ; Y1≈838.8m ; Y5≈404.4m
Fair Price DCF = 10.51 (DCF Value 7.18b / Shares Outstanding 683.0m; 5y FCF grow -38.07% → 3.0% )
EPS Correlation: -36.85 | EPS CAGR: -6.95% | SUE: 0.39 | # QB: 0
Revenue Correlation: 77.41 | Revenue CAGR: 345.5% | SUE: 1.44 | # QB: 2

Additional Sources for NLY Stock

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