Annaly Capital Management, Inc. (NLY) is a publicly traded company in the Real Estate — REIT - Mortgage industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Annaly Capital Management, Inc. (NLY) operates as a multifaceted financial firm, specializing in managing capital across various sectors. Its core business encompasses mortgage-related investments and lending to middle-market corporations.
Is Annaly Capital Management, Inc. stock overvalued or undervalued in 2026?
Annaly Capital Management, Inc. (NLY) trades at 12.8× earnings (P/E). At its 10-year average P/FFO (6.5×) $21 (+13 %); at the decade median (3.2×) $10 (-43 %).
Kaplio overview: Annaly Capital Management, Inc.
Market cap $14B · 52 weeks $18 – $24 (22 % below the high) · P/E 12.8× · 2027 expected P/E 5.9× · Dividend 15.9 % · Next earnings January 27, 2027 · expected EPS $0.78 · Closing price, Oct 29 · accounts published Oct 20.
- Valuation: P/FFO 5.7× (expensive).
- Business: FFO/dividend 1.1× (fair).
- Balance sheet: Net debt/EBITDA 16.0× (fragile).
- Earnings: 8 of 8 (no verdict).
What would it be worth at its usual multiples?
At its 10-year average P/FFO (6.5×) $21 (+13 %); at the decade median (3.2×) $10 (-43 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in REITs: 0 of 5 pass
- Debt / Assets 82.5 %, fails.
- Net debt / EBITDA 16.0×, fails.
- FFO Payout (proxy) 271.6 %, fails.
- P/FFO 5.7×, fails.
- Dividend coverage (FFO/div) 1.1×, borderline.
- FFO / Share $3.22, info.
Against its peers (reference peers) — Annaly Capital Management, Inc.: P/B 0.9×; Div. yield 15.9 %; EV/EBITDA 27.2×; $13.9B. AGNC Investment Corp. (P/B 0.9×; Div. yield 16.2 %; EV/EBITDA 64.2×; $10.6B), Dynex Capital, Inc. (P/B 0.9×; Div. yield 18.7 %; EV/EBITDA 43.8×; $2.7B), Starwood Property Trust, Inc. (P/B 0.7×; Div. yield 15.5 %; EV/EBITDA 15.8×; $4.7B).
Expensive or cheap against its last ten fiscal years?
Precio / FFO (aprox.) at each close: today 5.7× · median 3.2× · minimum 1.4× · maximum 22.6× · cheap below 1.8× · expensive above 7.8×. It has been cheaper than today 80% of the time over its last ten fiscal years.
Dividend
fragile · Yield 15.9 % ($2.94 per share in 2025) · Years raising it 1 · 5-year growth -7 % a year · Free cash flow coverage FFO payout 272 % · With $1,000 invested today you'd collect $158.60 a year ($13.22 a month).
Profitability
| Return on Equity | 6.97% |
| Return on Invested Capital | 4.64% |
| Return on Assets | 0.78% |
| Gross Margin | 81.22% |
| Operating Margin | 86.16% |
| Net Margin | 14.55% |
Financial Health
| Debt / Equity | 8.04 |
| Current Ratio | 0.03 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -0.57 |
Price Performance
| 1 month | -2.22% |
| 3 months | -18.71% |
| Year-to-date | -17.40% |
| 1 year | -10.95% |
| 3 years | +18.32% |
| 5 years | -45.42% |
| 10 years | -54.86% |
Dividend History
Paid in the last 12 months: $2.9000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-30 | $0.7500 |
| 2026-06-30 | $0.7500 |
| 2026-03-31 | $0.7000 |
| 2025-12-31 | $0.7000 |
| 2025-09-30 | $0.7000 |
| 2025-06-30 | $0.7000 |
| 2025-03-31 | $0.7000 |
| 2024-12-31 | $0.6500 |
| 2024-09-30 | $0.6500 |
| 2024-06-28 | $0.6500 |
Amounts adjusted for stock splits.
Related companies: AGNC · DX · 0H6E.L · STWD · RWTN
Explore sector: Real Estate · REIT - Mortgage
More sections of NLY: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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