Stocks · Real Estate · REIT - Mortgage
Annaly Capital Management, Inc. NLY
$18.50 -1.07% Close, Oct 2, 2026 · NYSE · Market cap $13.94B
Strong growth
Next earnings report: Oct 20, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $4.00, up 296.1% year over year.
- Operating margin widened to 111.8% from 82.9% a year earlier.
- The diluted share count rose 17.9% in a year.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 30%
- EPS growth (TTM, YoY)Top 8%
- FCF growth (TTM, YoY)Bottom 9%
- Revenue growth, 3-year CAGRTop 15%
- Revenue growth accelerationTop 15%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 33%
- Gross marginTop 1%
- Operating marginTop 1%
- Cash conversion (OCF / net income)Bottom 15%
- Accruals (lower is better)Bottom 9%
- Net debt / EBITDA (lower is better)Bottom 18%
- Interest coverTop 40%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 4%
- Free-cash-flow yieldBottom 19%
- EBITDA / enterprise valueBottom 46%
- Sales / enterprise valueBottom 10%
- P/E vs own 5-year history (lower is better)Bottom 35%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 31%
- 6-month returnBottom 28%
- 1-year return vs S&P 500Bottom 44%
- Distance from 52-week highBottom 40%
- Trend checklist (0–4)Bottom 22%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 49%
- Consecutive EPS beatsTop 5%
- Share of analysts rating BuyTop 35%
- Upside to consensus price targetTop 40%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 42%
- Maximum drawdown, 3 yearsTop 16%
- Beta vs S&P 500 (lower is better)Bottom 40%
- Net debt / EBITDA (lower is better)Bottom 18%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 8.0% | 12.5% | ↑ |
| EPS growth (YoY) | 234.7% | 296.1% | ↑ |
| Gross margin | 99.2% | 99.3% | ↑ |
| Operating margin | 82.9% | 111.8% | ↑ |
| FCF margin | 7.8% | -4.3% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 12.5% | 8.0% | ↑ | Top 30% |
| EPS growth (TTM, YoY) | 296.1% | 234.7% | ↑ | Top 8% |
| Gross margin | 99.3% | 99.2% | ↑ | Top 1% |
| Operating margin | 111.8% | 82.9% | ↑ | Top 1% |
| Net margin | 40.5% | 11.3% | ↑ | — |
| Free-cash-flow margin | -4.3% | 7.8% | ↓ | — |
| Return on invested capital | 5.7% | — | Top 33% | |
| Revenue growth, 3-year CAGR | 17.3% | — | Top 15% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 0.30×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- 1.4%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 0.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -10.5 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 14.96×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 15.05%
- Net buyback yield (TTM)
- -18.58%
- Shareholder yield
- -3.53%
- Share count change, 1 year
- +17.9%
- Share count change, 3-year CAGR
- +14.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 29, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 7
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +2.8%
- Average 2-day reaction, last 8
- -0.1%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $23.50
- Target vs current price
- +27.0%
- Analysts with a rating
- 28
- Share rating Buy or Strong Buy
- 57%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 21, 2026 | +5.2% | -0.2% | -0.6% | +3.0% | — |
| Apr 21, 2026 | +2.0% | -0.2% | +0.8% | -4.9% | +3.4% |
| Jan 28, 2026 | +2.8% | -0.5% | -6.3% | -5.5% | -7.9% |
| Oct 22, 2025 | +1.4% | +1.2% | +0.0% | +2.4% | +15.9% |
| Jul 23, 2025 | +1.4% | +0.2% | +2.1% | +1.7% | +2.0% |
| Apr 30, 2025 | +1.4% | -0.1% | -3.1% | -2.8% | +6.3% |
| Jan 29, 2025 | +7.5% | -0.7% | +3.0% | +9.9% | -4.9% |
| Oct 23, 2024 | -1.5% | -0.5% | -2.3% | +0.6% | -0.8% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 21, 2026 | $0.79 | $0.75 | +5.2% | $892.9M |
| Apr 21, 2026 | $0.76 | $0.75 | +2.0% | $341.6M |
| Jan 28, 2026 | $0.74 | $0.72 | +2.8% | $1.06B |
| Oct 22, 2025 | $0.73 | $0.72 | +1.4% | $2.16B |
| Jul 23, 2025 | $0.73 | $0.72 | +1.4% | $1.79B |
| Apr 30, 2025 | $0.72 | $0.71 | +1.4% | $244.5M |
| Jan 29, 2025 | $0.72 | $0.67 | +7.5% | $539.1M |
| Oct 23, 2024 | $0.66 | $0.67 | -1.5% | $133.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 4.6× | 5.1× | 50th | Top 4% |
| P/E (forward) | 6.0× | — | — | — |
| EV / EBITDA | 16.7× | — | — | Bottom 46% |
| EV / Sales | 18.67× | — | — | Bottom 10% |
| Free-cash-flow yield | -2.26% | — | — | Bottom 19% |
| Earnings yield | 21.62% | — | — | Top 4% |
P/E over the past five years
Range 2.2× – 21.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -10.3%
- Earnings per share growth (TTM)
- +296.1%
- Change in P/E multiple
- -71.7%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -3.0%
- 200-day average slope (20 days)
- -0.6%
- Distance from 50-day average
- -16.7%
- Distance from 200-day average
- -17.5%
- RSI (14)
- 13.2
- Relative volume
- 1.43×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 22.4%
- Volatility vs own 5-year history
- 54th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.65
- Correlation with S&P 500
- 0.46
- Current drawdown from 1-year high
- -24.2%
- Maximum drawdown, 3 years
- -24.2%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jun 9, 2021 | Oct 27, 2023 | -61.4% | 601 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $13.94B
- P/E (TTM)
- 4.6
- EPS, diluted (TTM)
- $4.00
- Revenue (TTM)
- $7.28B
- Dividend yield
- 15.68%
- 52-week range
- $18.37 – $24.52
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $751.4M | $4.15B | $5.61B | $6.36B | $6.70B |
| Gross profit | $702.1M | $4.11B | $5.56B | $6.29B | $6.69B |
| Operating income | $2.93B | $3.12B | $2.24B | $5.62B | $6.87B |
| Net income | $2.39B | $1.73B | -$1.64B | $1.00B | $2.03B |
| EPS (diluted) | $6.39 | $3.92 | -$3.61 | $1.62 | $2.92 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25B | $1.95B | $1.49B | $1.79B | $1.63B | $1.79B | $1.63B | $2.23B |
| Net income | $66.4M | $482.1M | $124.2M | $57.1M | $832.4M | $1.01B | $282.7M | $822.7M |
| EPS (diluted) | $0.05 | $0.78 | $0.15 | $0.03 | $1.20 | $1.40 | $0.33 | $1.07 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $3.08B | $5.37B | $2.37B | $3.31B | $692.9M |
| Capital expenditure | -$538.1M | -$1.01B | -$396.8M | -$863.1M | -$915.1M |
| Free cash flow | $2.54B | $4.36B | $1.97B | $2.45B | -$222.2M |
| Dividends paid | -$1.36B | -$1.52B | -$1.52B | -$1.49B | -$1.88B |
| Net share buybacks | $552.2M | $2.64B | $673.7M | $1.55B | $2.90B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $2.91B
- Total assets
- $143.74B
- Total liabilities
- $126.76B
- Total debt
- $124.94B
- Net debt
- $122.03B
- Shareholders’ equity
- $16.93B
As of Jun 30, 2026 (filed Jul 29, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 30, 2026 | $0.75 | Oct 30, 2026 |
| Jun 30, 2026 | $0.75 | Jul 31, 2026 |
| Mar 31, 2026 | $0.70 | Apr 30, 2026 |
| Dec 31, 2025 | $0.70 | Jan 30, 2026 |
| Sep 30, 2025 | $0.70 | Oct 31, 2025 |
| Jun 30, 2025 | $0.70 | Jul 31, 2025 |
| Mar 31, 2025 | $0.70 | Apr 30, 2025 |
| Dec 31, 2024 | $0.65 | Jan 31, 2025 |
Short interest
- Shares sold short
- 18,383,272
- Days to cover
- 2.25
- Change vs previous report
- -11.0%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Sep 26, 2022
- 1-for-4