Annaly Capital Management, Inc. (NLY) Stock Analysis
Real Estate · REIT - Mortgage · NYSE
Annaly Capital Management, Inc. (NLY) posted $1.14B in revenue for fiscal 2025 (up 358.2% year over year), at a 164.6% net margin, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Annaly Capital Management, Inc.
Annaly Capital Management, Inc. has grown revenue from $0 to $1.14B over the last 10 fiscal years. The most recent year was up 358.2%.
Net margin sits at 164.6%, down 177.4 points year over year.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Annaly Capital Management, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Annaly Capital Management, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $1.47B | $-111.38M | $247.80M | $1.14B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $1.43B | $1.57B | $54.41M | $-2.16B | $-891.16M | $2.39B | $1.61B | $-1.78B | $847.36M | $1.87B |
| Net margin | — | — | — | — | — | — | 109.9% | 1602.4% | 342.0% | 164.6% |
Source: Annaly Capital Management, Inc. SEC filings (10-K). 19 years of history available in the interactive view.
Annaly Capital Management, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 93.7% over 4 years (364.9M → 707M) — existing holders' stakes are being diluted.
Explore 19 years of Annaly Capital Management, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Annaly Capital Management, Inc. financial history by metric
Compare Annaly Capital Management, Inc. with peers
About Annaly Capital Management, Inc.
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.
Annaly Capital Management, Inc. — frequently asked questions
What is Annaly Capital Management, Inc.'s revenue?
Annaly Capital Management, Inc. (NLY) reported revenue of $1.14B for fiscal year 2025, up 358.2% from the prior year, according to its SEC filings.
Is Annaly Capital Management, Inc. profitable?
Yes. NLY earned net income of $1.87B in fiscal 2025, a net margin of 164.6%.
What is NLY's P/E ratio?
Annaly Capital Management, Inc. trades at a price-to-earnings ratio of about 6.9 based on the latest data in our nightly-refreshed cache.
How much debt does Annaly Capital Management, Inc. have?
As of fiscal year 2025, NLY carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Annaly Capital Management, Inc.'s market cap?
Annaly Capital Management, Inc. (NLY) has a market capitalization of about $15.75B, based on the latest data in our nightly-refreshed cache.
When does Annaly Capital Management, Inc.'s fiscal year end?
NLY's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Annaly Capital Management, Inc.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.