NLY

Annaly Capital Management, Inc.

Fundamental data last updated:September 7, 2026

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company profile

SECTOR

Real Estate

industry

REIT - Mortgage

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

Annaly Capital Management, Inc., a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments. 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. The company was founded in 1996 and is based in New York, New York.

 


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VALUATION

P/E

7.17

Market Cap ($M USD)

$15.89B

Forward P/E

7.35

PEG

-3.07

PRICE TO SALES

2.32

PRICE TO BOOK

0.96

EV / EBITDA

18.15

5-Year Average P/E

Free Cash Flow Yield

-9.95%

DCF Value

$660.07

Graham Number

$39.14

Price to FCF

-10.05

EV to FCF

-82.79

Earnings Yield

13.94%

FCF Yield

-9.95%

DIVIDEND

Yield

12.91%

Annual Payout

$2.80

Payout Ratio

91.72%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$3.02

Next Year EPS Growth Estimate

$2.95

Next Year Revenue Growth Estimate

$2.54B

Return on Equity (ROE)

14.41%

FREE CASH FLOW

Operating Margin

105.21%

Debt-to-Equity

6.95

Piotroski F-Score

4

Altman Z-Score

-0.55

Return on Invested Capital (ROIC)

13.45%

Current Ratio

0.03

Quick Ratio

0.03

Net Debt to EBITDA

15.95

Interest Coverage

1.44

Gross Profit margin

99.22%

FCF PER SHARE

$-2.19

REVENUE PER SHARE

$9.46

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Gainseekers Quantitative Analysis

Summary

NLY’s valuation presents a striking disconnect from its intrinsic worth. With a DCF value towering over its snapshot price, the market seems to be undervaluing this REIT. The Forward P/E ratio suggests a modest growth expectation, yet the Earnings Yield of 13.38% indicates a potentially lucrative return. However, the Altman Z-score of -0.55 raises red flags about financial distress, hinting at underlying vulnerabilities. This juxtaposition of value and risk makes NLY a complex play for discerning investors.

AI Exposure / Tech Reliance

Operating within the mortgage REIT sector, Annaly Capital Management is not directly exposed to AI or tech shifts. However, its reliance on data analytics for risk management and investment decisions could benefit from advancements in AI. The company's ability to adapt to tech-driven efficiencies will be crucial in maintaining its competitive edge.

The Bull Case

For the value-driven investor, NLY offers compelling reasons to buy. The robust ROIC of 13.45% showcases efficient capital allocation, while the operating margin of 105.21% underscores exceptional pricing power. Despite a negative FCF yield, the Piotroski F-Score of 4 suggests moderate financial health. These metrics paint a picture of a company with strong operational execution, making it attractive for those seeking high returns.

The Bear Case

Yet, the bear case cannot be ignored. NLY's debt-to-equity ratio of 6.95 is alarmingly high, indicating a heavy reliance on leverage. The negative FCF yield and EV to FCF ratio of -83.21 highlight severe cash flow issues. Trading near its 52-week high, the stock appears technically overextended. These factors suggest significant structural risks that could undermine its financial stability.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$24.50

Institutional Ownership %

1-Year Beta

1.27

Insider Buying % (6 Mo)

Distance to 52-Week High

13.05%

Distance to 52-Week Low

14.34%

EARNINGS SURPRISE %

-55.41%

50-DAY SMA

$21.96

200-DAY SMA

$22.06

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.