NLY - NYSE
Annaly Capital Management, Inc.
$21.17
-0.61%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.
At a Glance
Live SnapshotAnnaly Capital Management, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
Annaly Capital Management, Inc. Income Statement
NLY • NYSE
| Annaly Capital Management, Inc. Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||||
6.7B | 6.4B | 5.6B | 4.1B | 751.4M | -548.4M | -2B | 2.1B | 2.4B | 2B | 1.4B | 943.8M | 2.4B | 2.9B | 3B | 2.2B | 2.3B | 3.2B | 2.4B | 1.3B | |
GROSS PROFIT | ||||||||||||||||||||
(5.4M) | (60.7M) | (49.6M) | (41M) | (49.3M) | (0.0) | (0.0) | (18.1M) | (26.6M) | (34.8M) | (20M) | (4.6M) | (2.6M) | (4.1M) | (0.0) | (1.6M) | (2.3M) | (0.0) | (0.0) | (0.0) | |
6.7B | 6.3B | 5.6B | 4.1B | 702.1M | -548.4M | -2B | 2.1B | 2.3B | 2B | 1.4B | 939.2M | 2.4B | 2.9B | 0.0 | 2.2B | 2.3B | 0.0 | 0.0 | 0.0 | |
OPERATING INCOME | ||||||||||||||||||||
-178.4M | (675.3M) | (3.3B) | (987M) | -2.2B | -548.4M | -2B | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (222.2M) | (271.8M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
6.9B | 5.6B | 2.2B | 3.1B | 2.9B | 0.0 | 0.0 | 154.6M | 1.6B | 1.5B | 958.4M | -300.5M | 4.4B | 2.6B | 2.3B | 1.7B | 2.6B | 2.3B | 2.4B | 156.5M | |
PRE-TAX INCOME | ||||||||||||||||||||
(4.8B) | (4.6B) | (3.8B) | (1.3B) | (249.2M) | (899.1M) | (2.8B) | (1.9B) | (1B) | (657.8M) | (471.6M) | (512.7M) | (624.7M) | (667.2M) | (480.3M) | (1.2B) | (1.3B) | (1.9B) | (1.9B) | (1.1B) | |
1.1B | 247.8M | -111.4M | 1.5B | 1.7B | 1.3B | 1B | 1.4B | 1.5B | 1.6B | 1.7B | 2.1B | 2.3B | 2.6B | 3.1B | 2.3B | 1.6B | 1.2B | 429M | 166.9M | |
-178.4M | (675.3M) | (3.3B) | (987M) | -2.2B | -770.6M | -2.3B | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-4.8B | -4.6B | -3.8B | -1.3B | -527.8M | -918.2M | -2.2B | -102.8M | 0.0 | -48.9M | -494.6M | -536.4M | -659.4M | -829.5M | -1.9B | -425.3M | -579.3M | -2B | -1.9B | -54.8M | |
2B | 1B | -1.6B | 1.8B | 2.4B | -918.2M | -2.2B | 51.8M | 1.6B | 1.4B | 463.8M | -837M | 3.7B | 1.8B | 402.4M | 1.3B | 2B | 372.2M | 423.3M | 101.4M | |
NET INCOME | ||||||||||||||||||||
-6.9M | (15.3M) | (39.4M) | (45.6M) | (4.7M) | -28.4M | -10.8M | -2.4M | (7M) | -1.6M | -2M | (5.3M) | (8.2M) | (35.9M) | (59.1M) | (35.4M) | (34.4M) | (26M) | (8.9M) | (7.5M) | |
2B | 1B | -1.6B | 1.7B | 2.4B | -891.2M | -2.2B | 54.4M | 1.6B | 1.4B | 466.6M | -842.1M | 3.7B | 1.7B | 344.5M | 1.3B | 2B | 346.2M | 414.4M | 93.8M |
SEC Filings
NLY - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
DEF 14A DEF 14A 2026 N/A | April 30, 2026 | June 10, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | April 29, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 21, 2026 | April 21, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 21, 2026 | April 21, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 21, 2026 | April 21, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 12, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | January 28, 2026 | January 28, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 28, 2026 | January 28, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 28, 2026 | January 28, 2026 | 2026 | |
8-K 8-K 2025 N/A | December 29, 2025 | December 29, 2025 | 2025 |
Related Guides
Continue your NLY research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.