Annaly Capital Management, Inc.
Real EstateNYSE:NLY · New York Stock Exchange
-$0.01 today
Vol 4.82M · Avg 8.72M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$6.8B of revenue converted into $2.2B of net income for the selected period. Gross margin is 99.2% and net margin is 32.1%, showing how much revenue survives after costs and taxes. EPS is $2.96, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7B +5.4% | $6.4B +13.3% | $5.6B +35.1% | $4.1B +452.3% | $751.4M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $5.4M -91.1% | $60.7M +22.4% | $49.6M +21.0% | $41.0M -16.8% | $49.3M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $6.7B +6.3% | $6.3B +13.2% | $5.6B +35.3% | $4.1B +485.2% | $702.1M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 99.9% +0.9pp | 99.0% -0.1pp | 99.1% +0.1pp | 99.0% +5.6pp | 93.4% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $0 | $0 | $0 | $0 | $0 | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | -$178.4M -126.4% | $675.3M -79.6% | $3.3B +235.8% | $987.0M +144.3% | -$2.2B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $2.7M -91.1% | $30.4M +22.4% | $24.8M +21.0% | $20.5M -16.8% | $24.6M | $374.2M | $1.2B | $631.8M |
| EBITDA | $6.9B +21.6% | $5.6B +149.0% | $2.3B -26.9% | $3.1B +16.0% | $2.7B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 102.6% +13.7pp | 88.9% +48.4pp | 40.5% -34.3pp | 74.8% -281.2pp | 356.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $6.9B +22.2% | $5.6B +150.4% | $2.2B -28.1% | $3.1B +6.6% | $2.9B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 102.6% +14.2pp | 88.4% +48.4pp | 40.0% -35.2pp | 75.2% -314.5pp | 389.8% | 16.6% | 24.1% | 22.0% |
| Interest Income | $6.0B +23.1% | $4.8B +29.7% | $3.7B +34.3% | $2.8B +40.1% | $2.0B | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $4.8B +5.0% | $4.6B +19.5% | $3.8B +193.4% | $1.3B +425.5% | $249.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$4.8B -5.0% | -$4.6B -19.5% | -$3.8B -184.7% | -$1.3B -155.8% | -$527.8M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $2.0B +99.1% | $1.0B +164.2% | -$1.6B -190.2% | $1.8B -26.2% | $2.4B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 30.5% +14.4pp | 16.2% +44.7pp | -28.5% -71.2pp | 42.7% -276.8pp | 319.5% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | -$6.9M -145.0% | $15.3M -61.3% | $39.4M -13.5% | $45.6M +874.8% | $4.7M | $1.3B | -$1.6B | $745.2M |
| Net Income | $2.0B +102.3% | $1.0B +161.0% | -$1.6B -195.2% | $1.7B -27.8% | $2.4B | $4.9B | $4.8B | $4.7B |
| Net Margin | 30.3% +14.5pp | 15.8% +45.1pp | -29.3% -70.9pp | 41.6% -276.5pp | 318.1% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 +80.2% | $2 +144.9% | -$4 -191.9% | $4 -38.6% | $6 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 +80.2% | $2 +144.9% | -$4 -192.1% | $4 -38.7% | $6 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $639.5M +22.6% | $521.7M +5.5% | $494.5M +20.2% | $411.3M +15.3% | $356.9M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $641.0M +22.6% | $522.7M +5.7% | $494.5M +20.1% | $411.6M +15.3% | $357.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
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SEC Filings
Recent regulatory filings
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How much revenue does NLY generate?
Annaly Capital Management, Inc. (NLY) reported $6.70B of revenue in fiscal 2025.
Is NLY profitable?
Annaly Capital Management, Inc. (NLY) reported $2.03B of net income, with a net margin of 30.3%.
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