Annual Income Statements for Annaly Capital Management
This table shows Annaly Capital Management's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Annaly Capital Management
This table shows Annaly Capital Management's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-302 |
-918 |
-876 |
131 |
-599 |
-441 |
426 |
-47 |
25 |
443 |
87 |
Consolidated Net Income / (Loss) |
|
-274 |
-887 |
-839 |
161 |
-569 |
-391 |
465 |
-8.83 |
82 |
473 |
130 |
Net Income / (Loss) Continuing Operations |
|
-274 |
-887 |
-839 |
161 |
-569 |
-391 |
465 |
-8.83 |
82 |
473 |
130 |
Total Pre-Tax Income |
|
-278 |
-887 |
-828 |
175 |
-557 |
-390 |
464 |
3.10 |
76 |
483 |
139 |
Total Revenue |
|
342 |
-185 |
96 |
218 |
-517 |
418 |
96 |
48 |
120 |
419 |
187 |
Net Interest Income / (Expense) |
|
278 |
135 |
19 |
-32 |
-45 |
-54 |
-6.45 |
54 |
13 |
187 |
220 |
Total Interest Income |
|
678 |
799 |
818 |
921 |
1,001 |
990 |
1,094 |
1,177 |
1,229 |
1,339 |
1,317 |
Investment Securities Interest Income |
|
678 |
799 |
818 |
921 |
1,001 |
990 |
1,094 |
1,177 |
1,229 |
1,339 |
1,317 |
Total Interest Expense |
|
400 |
664 |
799 |
953 |
1,047 |
1,044 |
1,101 |
1,124 |
1,216 |
1,152 |
1,097 |
Long-Term Debt Interest Expense |
|
400 |
664 |
799 |
953 |
1,047 |
1,044 |
1,101 |
1,124 |
1,216 |
1,152 |
1,097 |
Total Non-Interest Income |
|
64 |
-320 |
76 |
250 |
-471 |
471 |
103 |
-5.57 |
107 |
232 |
-33 |
Service Charges on Deposit Accounts |
|
-7.78 |
- |
- |
75 |
88 |
- |
-12 |
108 |
110 |
-255 |
126 |
Other Service Charges |
|
74 |
143 |
84 |
9.11 |
26 |
245 |
115 |
25 |
27 |
318 |
7.40 |
Net Realized & Unrealized Capital Gains on Investments |
|
-2.94 |
- |
- |
166 |
-586 |
- |
- |
-138 |
-30 |
- |
-167 |
Total Non-Interest Expense |
|
38 |
43 |
41 |
43 |
40 |
39 |
39 |
45 |
44 |
44 |
48 |
Salaries and Employee Benefits |
|
28 |
30 |
29 |
31 |
30 |
30 |
29 |
33 |
34 |
34 |
37 |
Other Operating Expenses |
|
10 |
13 |
11 |
12 |
9.85 |
9.40 |
9.85 |
12 |
9.47 |
10 |
11 |
Income Tax Expense |
|
-4.31 |
-0.09 |
11 |
14 |
12 |
1.73 |
-0.94 |
12 |
-6.14 |
10 |
8.27 |
Preferred Stock Dividends Declared |
|
27 |
30 |
32 |
36 |
37 |
37 |
37 |
37 |
42 |
39 |
37 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
1.29 |
1.55 |
4.93 |
-5.85 |
-6.88 |
13 |
2.28 |
0.65 |
16 |
-8.98 |
6.08 |
Basic Earnings per Share |
|
($0.70) |
($2.23) |
($1.79) |
$0.27 |
($1.21) |
($0.89) |
$0.85 |
($0.09) |
$0.05 |
$0.81 |
$0.15 |
Weighted Average Basic Shares Outstanding |
|
429.86M |
411.35M |
489.69M |
494.17M |
494.33M |
494.54M |
500.61M |
500.95M |
515.73M |
521.74M |
587.15M |
Diluted Earnings per Share |
|
($0.70) |
($2.23) |
($1.79) |
$0.27 |
($1.21) |
($0.89) |
$0.85 |
($0.09) |
$0.05 |
$0.81 |
$0.15 |
Weighted Average Diluted Shares Outstanding |
|
429.86M |
411.62M |
489.69M |
494.36M |
494.33M |
494.54M |
501.18M |
500.95M |
516.83M |
522.75M |
588.42M |
Weighted Average Basic & Diluted Shares Outstanding |
|
467.87M |
493.62M |
493.88M |
493.91M |
500.09M |
500.08M |
500.44M |
501.02M |
560.55M |
578.36M |
605.09M |
Cash Dividends to Common per Share |
|
$0.88 |
$1.07 |
$0.65 |
$0.65 |
$0.65 |
$0.73 |
$0.65 |
$0.65 |
$0.65 |
- |
$0.70 |
Annual Cash Flow Statements for Annaly Capital Management
This table details how cash moves in and out of Annaly Capital Management's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
28 |
-230 |
-833 |
1,029 |
115 |
-607 |
98 |
235 |
-165 |
76 |
Net Cash From Operating Activities |
|
-3,643 |
1,581 |
1,632 |
2,622 |
-1,200 |
528 |
3,077 |
5,372 |
2,367 |
3,311 |
Net Cash From Continuing Operating Activities |
|
-3,643 |
1,581 |
1,632 |
2,622 |
-1,200 |
528 |
3,077 |
5,372 |
2,367 |
3,311 |
Net Income / (Loss) Continuing Operations |
|
466 |
1,433 |
1,569 |
54 |
-2,163 |
-890 |
2,396 |
1,726 |
-1,638 |
1,012 |
Consolidated Net Income / (Loss) |
|
466 |
1,433 |
1,569 |
54 |
-2,163 |
-890 |
2,396 |
1,726 |
-1,638 |
1,012 |
Provision For Loan Losses |
|
- |
0.00 |
0.00 |
3.50 |
17 |
148 |
-145 |
-21 |
-0.22 |
0.00 |
Depreciation Expense |
|
13 |
42 |
28 |
72 |
32 |
41 |
25 |
21 |
25 |
30 |
Amortization Expense |
|
813 |
809 |
869 |
689 |
1,101 |
1,360 |
777 |
82 |
200 |
117 |
Non-Cash Adjustments to Reconcile Net Income |
|
-4,942 |
-670 |
-861 |
1,594 |
2.57 |
-223 |
57 |
3,787 |
4,476 |
2,003 |
Changes in Operating Assets and Liabilities, net |
|
7.33 |
-33 |
27 |
208 |
-189 |
92 |
-34 |
-223 |
-694 |
148 |
Net Cash From Investing Activities |
|
12,145 |
-2,062 |
-14,666 |
-908 |
-20,642 |
40,352 |
4,899 |
-14,527 |
-8,416 |
-14,985 |
Net Cash From Continuing Investing Activities |
|
12,145 |
-2,062 |
-14,666 |
-908 |
-20,642 |
40,352 |
4,899 |
-14,527 |
-8,416 |
-14,985 |
Purchase of Investment Securities |
|
-23,538 |
-89,166 |
-110,103 |
-133,256 |
-165,321 |
-93,742 |
-47,335 |
-77,126 |
-175,552 |
-655,632 |
Sale and/or Maturity of Investments |
|
35,683 |
87,099 |
95,424 |
132,322 |
144,676 |
134,080 |
51,115 |
62,599 |
167,136 |
640,622 |
Other Investing Activities, net |
|
0.00 |
4.62 |
8.00 |
26 |
3.16 |
7.59 |
0.29 |
0.00 |
0.00 |
25 |
Net Cash From Financing Activities |
|
-8,474 |
252 |
12,201 |
-684 |
21,956 |
-41,487 |
-7,878 |
9,389 |
5,884 |
11,750 |
Net Cash From Continuing Financing Activities |
|
-8,474 |
252 |
12,201 |
-684 |
21,956 |
-41,487 |
-7,878 |
9,389 |
5,884 |
11,750 |
Issuance of Debt |
|
2,575 |
1,382 |
0.00 |
920 |
3,444 |
2,424 |
5,565 |
7,382 |
6,488 |
14,465 |
Issuance of Common Equity |
|
0.00 |
2.36 |
2,347 |
1,532 |
1,829 |
1.18 |
552 |
2,636 |
674 |
1,558 |
Repayment of Debt |
|
-945 |
-367 |
-1,038 |
-1,385 |
-2,058 |
-1,300 |
-2,535 |
-1,243 |
-947 |
-6,450 |
Payment of Dividends |
|
-1,208 |
-1,221 |
-1,353 |
-1,541 |
-1,689 |
-1,476 |
-1,360 |
-1,519 |
-1,518 |
-1,494 |
Other Financing Activities, Net |
|
-8,783 |
558 |
12,430 |
201 |
20,884 |
-40,467 |
-10,100 |
2,134 |
1,187 |
3,670 |
Cash Interest Received |
|
2,966 |
2,968 |
3,447 |
3,894 |
4,811 |
3,682 |
2,701 |
2,459 |
3,279 |
3,783 |
Cash Income Taxes Paid |
|
1.93 |
0.93 |
-1.50 |
-0.30 |
2.28 |
1.52 |
-3.80 |
-0.49 |
1.10 |
-1.69 |
Quarterly Cash Flow Statements for Annaly Capital Management
This table details how cash moves in and out of Annaly Capital Management's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
612 |
111 |
217 |
-557 |
4.25 |
171 |
253 |
-78 |
-27 |
-72 |
346 |
Net Cash From Operating Activities |
|
2,454 |
202 |
-1,019 |
1,137 |
1,871 |
379 |
1,698 |
477 |
-1,673 |
2,808 |
-156 |
Net Cash From Continuing Operating Activities |
|
2,454 |
202 |
-1,019 |
1,137 |
1,871 |
379 |
1,698 |
477 |
-1,673 |
2,808 |
-156 |
Net Income / (Loss) Continuing Operations |
|
-274 |
-887 |
-839 |
161 |
-569 |
-391 |
465 |
-8.83 |
82 |
473 |
130 |
Consolidated Net Income / (Loss) |
|
-274 |
-887 |
-839 |
161 |
-569 |
-391 |
465 |
-8.83 |
82 |
473 |
130 |
Depreciation Expense |
|
4.73 |
4.63 |
5.05 |
6.98 |
7.32 |
5.46 |
6.88 |
9.25 |
7.05 |
7.18 |
9.22 |
Amortization Expense |
|
25 |
43 |
69 |
42 |
31 |
56 |
30 |
15 |
57 |
14 |
69 |
Non-Cash Adjustments to Reconcile Net Income |
|
1,890 |
2,186 |
210 |
1,002 |
2,543 |
721 |
775 |
488 |
-1,599 |
2,340 |
-553 |
Changes in Operating Assets and Liabilities, net |
|
810 |
-1,152 |
-463 |
-76 |
-142 |
-13 |
421 |
-27 |
-220 |
-26 |
189 |
Net Cash From Investing Activities |
|
-6,944 |
-5,534 |
-1,081 |
-3,166 |
-5,372 |
1,203 |
-167 |
-4,139 |
-4,429 |
-6,250 |
1,663 |
Net Cash From Continuing Investing Activities |
|
-6,944 |
-5,534 |
-1,081 |
-3,166 |
-5,372 |
1,203 |
-167 |
-4,139 |
-4,429 |
-6,250 |
1,663 |
Purchase of Investment Securities |
|
-28,495 |
-21,787 |
-25,754 |
-27,373 |
-27,479 |
-94,946 |
-161,028 |
-158,135 |
-156,337 |
-180,132 |
-180,838 |
Sale and/or Maturity of Investments |
|
21,551 |
16,254 |
24,673 |
24,207 |
22,106 |
96,150 |
160,862 |
153,985 |
151,900 |
173,875 |
182,498 |
Other Investing Activities, net |
|
- |
- |
- |
- |
- |
- |
- |
- |
8.08 |
6.14 |
3.40 |
Net Cash From Financing Activities |
|
5,103 |
5,443 |
2,317 |
1,472 |
3,505 |
-1,411 |
-1,278 |
3,584 |
6,075 |
3,369 |
-1,161 |
Net Cash From Continuing Financing Activities |
|
5,103 |
5,443 |
2,317 |
1,472 |
3,505 |
-1,411 |
-1,278 |
3,584 |
6,075 |
3,369 |
-1,161 |
Issuance of Debt |
|
1,350 |
867 |
1,244 |
1,644 |
1,411 |
2,189 |
3,498 |
3,939 |
3,784 |
3,244 |
4,686 |
Issuance of Common Equity |
|
1,671 |
8.92 |
563 |
-0.12 |
18 |
94 |
-0.05 |
11 |
1,149 |
398 |
496 |
Repayment of Debt |
|
-550 |
1,623 |
-161 |
-239 |
-277 |
-270 |
-1,273 |
429 |
-634 |
-4,971 |
-824 |
Payment of Dividends |
|
-381 |
-442 |
-444 |
-357 |
-358 |
-359 |
-362 |
-363 |
-367 |
-402 |
-413 |
Other Financing Activities, Net |
|
3,012 |
3,385 |
1,116 |
424 |
2,711 |
-3,064 |
-3,141 |
-433 |
2,143 |
5,100 |
-5,106 |
Cash Interest Received |
|
607 |
708 |
746 |
1,422 |
233 |
878 |
1,675 |
1,236 |
-123 |
995 |
1,025 |
Cash Income Taxes Paid |
|
-0.51 |
1.68 |
-0.14 |
-0.52 |
1.94 |
-0.19 |
-0.24 |
-0.42 |
-0.47 |
-0.56 |
-0.24 |
Annual Balance Sheets for Annaly Capital Management
This table presents Annaly Capital Management's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
75,191 |
92,691 |
101,760 |
105,788 |
15,079 |
88,455 |
76,764 |
81,851 |
93,227 |
103,556 |
Cash and Due from Banks |
|
1,769 |
1,586 |
707 |
1,736 |
1,918 |
1,244 |
1,342 |
1,577 |
1,412 |
1,488 |
Trading Account Securities |
|
67,844 |
154,896 |
92,879 |
93,543 |
118 |
75,839 |
63,829 |
66,707 |
72,486 |
72,183 |
Loans and Leases, Net of Allowance |
|
279 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
231 |
280 |
324 |
357 |
- |
268 |
235 |
- |
1,223 |
1,069 |
Intangible Assets |
|
39 |
34 |
95 |
101 |
93 |
127 |
24 |
17 |
12 |
9.42 |
Other Assets |
|
4,958 |
12,295 |
4,757 |
10,050 |
12,950 |
10,977 |
11,334 |
13,550 |
18,094 |
28,807 |
Total Liabilities & Shareholders' Equity |
|
75,191 |
87,905 |
101,760 |
105,788 |
130,295 |
88,455 |
76,764 |
81,851 |
93,227 |
103,556 |
Total Liabilities |
|
63,285 |
79,008 |
86,888 |
91,670 |
114,499 |
74,433 |
63,569 |
70,481 |
81,882 |
90,859 |
Short-Term Debt |
|
56,231 |
192,615 |
77,696 |
82,006 |
102,545 |
65,859 |
55,651 |
- |
302 |
60 |
Accrued Interest Payable |
|
152 |
167 |
253 |
571 |
476 |
191 |
91 |
325 |
288 |
268 |
Other Short-Term Payables |
|
- |
306 |
- |
394 |
358 |
308 |
321 |
- |
325 |
376 |
Long-Term Debt |
|
4,734 |
7,656 |
7,119 |
8,041 |
10,564 |
7,036 |
7,108 |
8,795 |
13,204 |
21,445 |
Other Long-Term Liabilities |
|
2,016 |
1,794 |
1,820 |
658 |
557 |
1,040 |
397 |
61,361 |
67,763 |
68,710 |
Total Equity & Noncontrolling Interests |
|
11,906 |
13,777 |
14,872 |
14,118 |
15,796 |
14,022 |
13,195 |
11,369 |
11,345 |
12,697 |
Total Preferred & Common Equity |
|
11,896 |
12,568 |
14,865 |
14,112 |
15,792 |
14,008 |
13,170 |
11,270 |
11,256 |
12,609 |
Preferred Stock |
|
913 |
1,201 |
1,720 |
1,778 |
1,982 |
1,537 |
1,537 |
1,537 |
1,537 |
1,537 |
Total Common Equity |
|
10,983 |
11,368 |
13,145 |
12,334 |
13,810 |
12,472 |
11,633 |
9,734 |
9,719 |
11,073 |
Common Stock |
|
14,685 |
15,590 |
17,233 |
18,807 |
19,981 |
19,765 |
20,328 |
22,986 |
23,677 |
25,264 |
Retained Earnings |
|
-3,325 |
-3,136 |
-2,962 |
-4,494 |
-8,309 |
-10,667 |
-9,654 |
-9,543 |
-12,623 |
-13,173 |
Accumulated Other Comprehensive Income / (Loss) |
|
-378 |
-1,086 |
-1,126 |
-1,980 |
2,138 |
3,374 |
958 |
-3,709 |
-1,335 |
-1,018 |
Noncontrolling Interest |
|
9.95 |
7.79 |
6.10 |
5.69 |
4.33 |
13 |
25 |
99 |
89 |
88 |
Quarterly Balance Sheets for Annaly Capital Management
This table presents Annaly Capital Management's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
85,407 |
86,832 |
89,330 |
89,648 |
91,484 |
93,669 |
101,516 |
105,115 |
Cash and Due from Banks |
|
1,466 |
1,794 |
1,237 |
1,241 |
1,665 |
1,587 |
1,560 |
1,834 |
Trading Account Securities |
|
70,943 |
70,317 |
72,447 |
71,458 |
67,646 |
67,553 |
72,526 |
70,431 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
263 |
774 |
945 |
- |
867 |
917 |
1,061 |
837 |
Intangible Assets |
|
17 |
16 |
15 |
13 |
11 |
11 |
10 |
8.74 |
Other Assets |
|
12,718 |
13,931 |
14,687 |
16,936 |
21,294 |
23,600 |
26,359 |
32,005 |
Total Liabilities & Shareholders' Equity |
|
85,407 |
86,832 |
89,330 |
89,648 |
91,484 |
93,669 |
101,516 |
105,115 |
Total Liabilities |
|
74,455 |
74,923 |
77,443 |
78,971 |
79,987 |
82,406 |
88,976 |
92,031 |
Short-Term Debt |
|
54,925 |
61,467 |
61,794 |
64,694 |
103 |
101 |
103 |
181 |
Accrued Interest Payable |
|
30 |
118 |
141 |
198 |
350 |
369 |
276 |
286 |
Other Short-Term Payables |
|
412 |
321 |
321 |
- |
325 |
326 |
363 |
422 |
Long-Term Debt |
|
8,840 |
9,729 |
10,782 |
11,272 |
15,452 |
17,577 |
19,776 |
24,450 |
Other Long-Term Liabilities |
|
10,248 |
3,288 |
4,406 |
2,807 |
63,756 |
64,033 |
68,458 |
66,692 |
Total Equity & Noncontrolling Interests |
|
10,952 |
11,909 |
11,887 |
10,677 |
11,496 |
11,263 |
12,540 |
13,085 |
Total Preferred & Common Equity |
|
10,866 |
11,792 |
11,776 |
10,564 |
11,410 |
11,181 |
12,443 |
12,995 |
Preferred Stock |
|
1,537 |
1,537 |
1,537 |
1,537 |
1,537 |
1,537 |
1,537 |
1,537 |
Total Common Equity |
|
9,330 |
10,256 |
10,240 |
9,028 |
9,873 |
9,645 |
10,907 |
11,458 |
Common Stock |
|
22,972 |
23,548 |
23,555 |
23,578 |
23,679 |
23,700 |
24,857 |
25,755 |
Retained Earnings |
|
-8,211 |
-10,742 |
-10,933 |
-11,855 |
-12,524 |
-12,898 |
-13,238 |
-13,510 |
Accumulated Other Comprehensive Income / (Loss) |
|
-5,431 |
-2,551 |
-2,383 |
-2,695 |
-1,282 |
-1,157 |
-712 |
-787 |
Noncontrolling Interest |
|
85 |
117 |
111 |
113 |
87 |
82 |
97 |
90 |
Annual Metrics And Ratios for Annaly Capital Management
This table displays calculated financial ratios and metrics derived from Annaly Capital Management's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
256.27% |
141.59% |
2.86% |
16.42% |
-202.45% |
169.61% |
28.06% |
-5.57% |
-87.28% |
217.84% |
EBITDA Growth |
|
1,790.97% |
75.12% |
8.35% |
-3.24% |
-147.96% |
311.72% |
-0.94% |
-32.23% |
-83.02% |
138.10% |
EBIT Growth |
|
174.26% |
199.72% |
10.12% |
3.48% |
-239.83% |
145.10% |
56.01% |
-4.76% |
-96.56% |
874.69% |
NOPAT Growth |
|
206.53% |
198.79% |
9.51% |
8.71% |
-193.59% |
145.10% |
122.44% |
-7.03% |
-97.52% |
1,266.04% |
Net Income Growth |
|
152.55% |
207.63% |
9.51% |
-96.55% |
-4,094.78% |
58.87% |
369.31% |
-27.95% |
-194.90% |
161.75% |
EPS Growth |
|
143.75% |
230.95% |
-1.44% |
-104.38% |
-2,566.67% |
58.87% |
369.31% |
-38.65% |
-192.09% |
144.88% |
Operating Cash Flow Growth |
|
-159.45% |
143.39% |
3.25% |
60.64% |
-145.75% |
144.01% |
482.77% |
74.61% |
-55.94% |
39.86% |
Free Cash Flow Firm Growth |
|
256.56% |
-1,166.39% |
182.95% |
-102.39% |
3,306.04% |
-181.58% |
117.33% |
355.91% |
-108.12% |
-90.22% |
Invested Capital Growth |
|
-14.76% |
193.61% |
-53.41% |
4.49% |
-86.86% |
534.96% |
-12.61% |
-73.45% |
23.24% |
37.63% |
Revenue Q/Q Growth |
|
206.43% |
573.86% |
-44.33% |
-47.28% |
52.44% |
460.87% |
-59.51% |
-25.50% |
155.49% |
0.22% |
EBITDA Q/Q Growth |
|
9,042.82% |
120.56% |
-30.60% |
-44.33% |
66.03% |
257.37% |
-52.48% |
-31.88% |
180.38% |
-6.30% |
EBIT Q/Q Growth |
|
155.39% |
9,618.14% |
-45.23% |
-54.09% |
49.95% |
258.61% |
-62.17% |
-27.55% |
109.48% |
-0.69% |
NOPAT Q/Q Growth |
|
174.91% |
464.16% |
-41.25% |
-44.18% |
59.54% |
279.12% |
-61.09% |
-50.89% |
102.52% |
242.31% |
Net Income Q/Q Growth |
|
169.40% |
464.16% |
-41.25% |
-98.23% |
61.56% |
-59.27% |
-16.11% |
-43.05% |
23.22% |
586.13% |
EPS Q/Q Growth |
|
142.86% |
1,163.64% |
-48.88% |
-102.34% |
59.60% |
-59.27% |
-16.11% |
-42.35% |
21.18% |
2,414.29% |
Operating Cash Flow Q/Q Growth |
|
-57.49% |
89.85% |
10.49% |
-33.21% |
57.11% |
-38.32% |
-0.20% |
-10.94% |
8.08% |
275.91% |
Free Cash Flow Firm Q/Q Growth |
|
14.79% |
-1,190.32% |
2,247.61% |
68.51% |
408.57% |
-281.61% |
-25.98% |
1,935.58% |
65.28% |
-116.27% |
Invested Capital Q/Q Growth |
|
1.45% |
158.07% |
9.58% |
1.30% |
-89.28% |
-0.50% |
1.95% |
-73.01% |
-71.32% |
5.50% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
192.29% |
139.38% |
146.81% |
122.03% |
0.00% |
173.75% |
134.41% |
96.46% |
128.73% |
96.43% |
EBIT Margin |
|
70.46% |
87.41% |
93.57% |
83.18% |
0.00% |
73.55% |
89.61% |
90.38% |
24.44% |
74.94% |
Profit (Net Income) Margin |
|
68.72% |
87.50% |
93.16% |
2.76% |
0.00% |
-63.63% |
133.82% |
102.10% |
-761.64% |
147.98% |
Tax Burden Percent |
|
100.42% |
100.11% |
99.56% |
104.59% |
99.50% |
96.90% |
99.81% |
97.43% |
102.47% |
98.51% |
Interest Burden Percent |
|
97.13% |
100.00% |
100.00% |
3.17% |
95.33% |
-89.28% |
149.63% |
115.95% |
-3,041.82% |
200.44% |
Effective Tax Rate |
|
-0.42% |
-0.11% |
0.44% |
-4.59% |
0.00% |
0.00% |
0.19% |
2.57% |
0.00% |
1.49% |
Return on Invested Capital (ROIC) |
|
0.61% |
1.00% |
1.00% |
1.67% |
0.00% |
1.43% |
1.97% |
3.10% |
0.16% |
1.71% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.58% |
1.00% |
1.00% |
-0.22% |
0.00% |
-3.12% |
3.14% |
3.76% |
-14.86% |
4.61% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.09% |
10.16% |
9.95% |
-1.30% |
0.00% |
-7.40% |
15.64% |
10.96% |
-14.59% |
6.71% |
Return on Equity (ROE) |
|
3.69% |
11.16% |
10.95% |
0.37% |
-14.46% |
-5.97% |
17.61% |
14.06% |
-14.43% |
8.42% |
Cash Return on Invested Capital (CROIC) |
|
16.54% |
-97.38% |
73.87% |
-2.72% |
150.83% |
-144.14% |
15.43% |
119.18% |
-20.66% |
-29.96% |
Operating Return on Assets (OROA) |
|
0.59% |
1.71% |
1.62% |
1.57% |
0.00% |
1.99% |
1.94% |
1.93% |
0.06% |
0.52% |
Return on Assets (ROA) |
|
0.57% |
1.71% |
1.61% |
0.05% |
0.00% |
-1.72% |
2.90% |
2.18% |
-1.87% |
1.03% |
Return on Common Equity (ROCE) |
|
3.42% |
9.71% |
9.37% |
0.33% |
-12.64% |
-5.26% |
15.60% |
12.23% |
-12.36% |
7.28% |
Return on Equity Simple (ROE_SIMPLE) |
|
3.92% |
11.40% |
10.55% |
0.38% |
-13.70% |
-6.35% |
18.20% |
15.32% |
-14.56% |
8.02% |
Net Operating Profit after Tax (NOPAT) |
|
480 |
1,433 |
1,569 |
1,706 |
-1,596 |
720 |
1,601 |
1,489 |
37 |
505 |
NOPAT Margin |
|
70.75% |
87.50% |
93.16% |
86.99% |
0.00% |
51.49% |
89.44% |
88.05% |
17.18% |
73.82% |
Net Nonoperating Expense Percent (NNEP) |
|
0.02% |
0.00% |
0.00% |
1.89% |
1.29% |
4.55% |
-1.17% |
-0.66% |
15.03% |
-2.90% |
SG&A Expenses to Revenue |
|
22.17% |
9.26% |
9.76% |
9.17% |
0.00% |
9.42% |
6.62% |
6.67% |
55.59% |
19.07% |
Operating Expenses to Revenue |
|
29.54% |
12.59% |
6.43% |
16.82% |
0.00% |
15.89% |
10.39% |
9.62% |
75.56% |
25.06% |
Earnings before Interest and Taxes (EBIT) |
|
478 |
1,431 |
1,576 |
1,631 |
-2,280 |
1,028 |
1,605 |
1,528 |
53 |
512 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
1,303 |
2,282 |
2,473 |
2,393 |
-1,147 |
2,429 |
2,407 |
1,631 |
277 |
659 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.29 |
0.36 |
0.46 |
0.52 |
0.54 |
0.60 |
0.68 |
0.78 |
0.87 |
0.93 |
Price to Tangible Book Value (P/TBV) |
|
0.29 |
0.36 |
0.47 |
0.52 |
0.55 |
0.61 |
0.69 |
0.78 |
0.87 |
0.93 |
Price to Revenue (P/Rev) |
|
4.68 |
2.48 |
3.62 |
3.27 |
0.00 |
5.36 |
4.45 |
4.46 |
39.37 |
15.00 |
Price to Earnings (P/E) |
|
8.04 |
3.01 |
4.18 |
0.00 |
0.00 |
0.00 |
3.49 |
4.68 |
0.00 |
12.11 |
Dividend Yield |
|
35.87% |
30.09% |
22.81% |
24.59% |
20.07% |
16.99% |
16.03% |
21.81% |
15.35% |
14.21% |
Earnings Yield |
|
12.44% |
33.26% |
23.93% |
0.00% |
0.00% |
0.00% |
28.66% |
21.39% |
0.00% |
8.26% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.87 |
0.95 |
0.92 |
0.93 |
8.81 |
0.93 |
0.93 |
0.81 |
0.89 |
0.93 |
Enterprise Value to Revenue (EV/Rev) |
|
93.38 |
124.56 |
54.58 |
49.22 |
0.00 |
57.71 |
39.62 |
9.70 |
103.14 |
46.65 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
48.56 |
89.37 |
37.18 |
40.34 |
0.00 |
33.21 |
29.48 |
10.06 |
80.12 |
48.38 |
Enterprise Value to EBIT (EV/EBIT) |
|
132.54 |
142.51 |
58.33 |
59.18 |
0.00 |
78.46 |
44.21 |
10.73 |
422.09 |
62.26 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
131.98 |
142.35 |
58.59 |
56.58 |
0.00 |
112.08 |
44.30 |
11.02 |
600.49 |
63.20 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
129.02 |
56.32 |
36.81 |
0.00 |
152.84 |
23.06 |
3.05 |
9.37 |
9.64 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
4.83 |
0.00 |
0.79 |
0.00 |
1.36 |
0.00 |
5.65 |
0.29 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
5.12 |
14.54 |
5.70 |
6.38 |
7.16 |
5.20 |
4.76 |
0.77 |
1.19 |
1.69 |
Long-Term Debt to Equity |
|
0.40 |
0.56 |
0.48 |
0.57 |
0.67 |
0.50 |
0.54 |
0.77 |
1.16 |
1.69 |
Financial Leverage |
|
5.27 |
10.17 |
9.95 |
6.03 |
2.94 |
2.37 |
4.98 |
2.91 |
0.98 |
1.46 |
Leverage Ratio |
|
6.46 |
6.54 |
6.79 |
7.16 |
4.04 |
3.47 |
6.07 |
6.46 |
7.71 |
8.19 |
Compound Leverage Factor |
|
6.28 |
6.54 |
6.79 |
0.23 |
3.85 |
-3.10 |
9.08 |
7.49 |
-234.46 |
16.41 |
Debt to Total Capital |
|
83.66% |
93.56% |
85.08% |
86.45% |
87.75% |
83.87% |
82.63% |
43.62% |
54.35% |
62.88% |
Short-Term Debt to Total Capital |
|
77.17% |
89.99% |
77.94% |
78.73% |
79.55% |
75.77% |
73.27% |
0.00% |
1.22% |
0.17% |
Long-Term Debt to Total Capital |
|
6.50% |
3.58% |
7.14% |
7.72% |
8.19% |
8.10% |
9.36% |
43.62% |
53.13% |
62.70% |
Preferred Equity to Total Capital |
|
1.25% |
0.56% |
1.73% |
1.71% |
1.54% |
1.77% |
2.02% |
7.62% |
6.18% |
4.49% |
Noncontrolling Interests to Total Capital |
|
0.01% |
0.00% |
0.01% |
0.01% |
0.00% |
0.02% |
0.03% |
0.49% |
0.36% |
0.26% |
Common Equity to Total Capital |
|
15.07% |
5.31% |
13.19% |
11.84% |
10.71% |
14.35% |
15.32% |
48.27% |
39.11% |
32.37% |
Debt to EBITDA |
|
46.78 |
87.75 |
34.30 |
37.64 |
-98.57 |
30.00 |
26.08 |
5.39 |
48.77 |
32.62 |
Net Debt to EBITDA |
|
45.42 |
87.06 |
34.01 |
36.91 |
-96.90 |
29.49 |
25.52 |
4.43 |
43.67 |
30.36 |
Long-Term Debt to EBITDA |
|
3.63 |
3.35 |
2.88 |
3.36 |
-9.21 |
2.90 |
2.95 |
5.39 |
47.68 |
32.53 |
Debt to NOPAT |
|
127.14 |
139.78 |
54.06 |
52.79 |
-70.86 |
101.25 |
39.19 |
5.91 |
365.52 |
42.60 |
Net Debt to NOPAT |
|
123.45 |
138.67 |
53.61 |
51.77 |
-69.65 |
99.52 |
38.35 |
4.85 |
327.31 |
39.66 |
Long-Term Debt to NOPAT |
|
9.87 |
5.34 |
4.54 |
4.71 |
-6.62 |
9.77 |
4.44 |
5.91 |
357.34 |
42.49 |
Noncontrolling Interest Sharing Ratio |
|
7.30% |
12.97% |
14.44% |
12.11% |
12.60% |
11.86% |
11.43% |
13.02% |
14.36% |
13.52% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
13,096 |
-139,651 |
115,836 |
-2,772 |
88,880 |
-72,508 |
12,564 |
57,279 |
-4,650 |
-8,846 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
27.77 |
-212.32 |
114.88 |
-1.46 |
31.92 |
-80.64 |
50.41 |
43.73 |
-1.21 |
-1.93 |
Operating Cash Flow to Interest Expense |
|
-7.73 |
2.40 |
1.62 |
1.38 |
-0.43 |
0.59 |
12.34 |
4.10 |
0.62 |
0.72 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-7.73 |
2.40 |
1.62 |
1.38 |
-0.43 |
0.59 |
12.34 |
4.10 |
0.62 |
0.72 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.01 |
0.02 |
0.02 |
0.02 |
0.00 |
0.03 |
0.02 |
0.02 |
0.00 |
0.01 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
72,871 |
213,954 |
99,687 |
104,165 |
13,688 |
86,917 |
75,954 |
20,164 |
24,852 |
34,202 |
Invested Capital Turnover |
|
0.01 |
0.01 |
0.01 |
0.02 |
0.00 |
0.03 |
0.02 |
0.04 |
0.01 |
0.02 |
Increase / (Decrease) in Invested Capital |
|
-12,616 |
141,084 |
-114,267 |
4,478 |
-90,476 |
73,228 |
-10,962 |
-55,790 |
4,687 |
9,350 |
Enterprise Value (EV) |
|
63,289 |
203,957 |
91,935 |
96,507 |
120,660 |
80,692 |
70,941 |
16,404 |
22,189 |
31,899 |
Market Capitalization |
|
3,171 |
4,063 |
6,100 |
6,412 |
7,484 |
7,491 |
7,962 |
7,550 |
8,468 |
10,258 |
Book Value per Share |
|
$11.59 |
$11.16 |
$11.34 |
$9.39 |
$9.66 |
$8.92 |
$8.02 |
$20.80 |
$19.43 |
$19.75 |
Tangible Book Value per Share |
|
$11.47 |
$11.05 |
$11.25 |
$9.31 |
$9.59 |
$8.83 |
$8.01 |
$20.77 |
$19.41 |
$19.74 |
Total Capital |
|
72,871 |
214,048 |
99,687 |
104,165 |
128,904 |
86,917 |
75,954 |
20,164 |
24,852 |
34,202 |
Total Debt |
|
60,965 |
200,271 |
84,815 |
90,047 |
113,108 |
72,895 |
62,759 |
8,795 |
13,506 |
21,505 |
Total Long-Term Debt |
|
4,734 |
7,656 |
7,119 |
8,041 |
10,564 |
7,036 |
7,108 |
8,795 |
13,204 |
21,445 |
Net Debt |
|
59,195 |
198,685 |
84,109 |
88,311 |
111,190 |
71,651 |
61,417 |
7,218 |
12,094 |
20,017 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
14 |
0.00 |
0.00 |
1,652 |
567 |
1,610 |
-795 |
-238 |
1,675 |
-507 |
Net Nonoperating Obligations (NNO) |
|
60,965 |
200,178 |
84,815 |
90,047 |
-2,108 |
72,895 |
62,759 |
8,795 |
13,506 |
21,505 |
Total Depreciation and Amortization (D&A) |
|
826 |
851 |
897 |
762 |
1,133 |
1,401 |
802 |
103 |
224 |
147 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.68 |
$5.56 |
$5.48 |
($0.24) |
($6.40) |
($2.92) |
$6.40 |
$3.93 |
($3.61) |
$1.62 |
Adjusted Weighted Average Basic Shares Outstanding |
|
236.77M |
242.45M |
266.48M |
302.40M |
358.73M |
353.66M |
356.86M |
411.35M |
494.54M |
521.74M |
Adjusted Diluted Earnings per Share |
|
$1.68 |
$5.56 |
$5.48 |
($0.24) |
($6.40) |
($2.92) |
$6.40 |
$3.92 |
($3.61) |
$1.62 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
236.82M |
242.53M |
266.59M |
302.40M |
358.73M |
353.66M |
357.14M |
411.62M |
494.54M |
522.75M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
($6.40) |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
231.21M |
254.74M |
289.91M |
350.02M |
357.58M |
349.63M |
365.09M |
493.62M |
500.08M |
578.36M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
334 |
971 |
1,454 |
1,142 |
-1,596 |
720 |
1,601 |
1,489 |
37 |
505 |
Normalized NOPAT Margin |
|
49.32% |
59.30% |
86.31% |
58.22% |
0.00% |
51.49% |
89.44% |
88.05% |
17.18% |
73.82% |
Pre Tax Income Margin |
|
68.43% |
87.41% |
93.57% |
2.64% |
0.00% |
-65.67% |
134.09% |
104.79% |
-743.31% |
150.21% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
1.01 |
2.18 |
1.56 |
0.86 |
-0.82 |
1.14 |
6.44 |
1.17 |
0.01 |
0.11 |
NOPAT to Interest Expense |
|
1.02 |
2.18 |
1.56 |
0.90 |
-0.57 |
0.80 |
6.43 |
1.14 |
0.01 |
0.11 |
EBIT Less CapEx to Interest Expense |
|
1.01 |
2.18 |
1.56 |
0.86 |
-0.82 |
1.14 |
6.44 |
1.17 |
0.01 |
0.11 |
NOPAT Less CapEx to Interest Expense |
|
1.02 |
2.18 |
1.56 |
0.90 |
-0.57 |
0.80 |
6.43 |
1.14 |
0.01 |
0.11 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
259.29% |
85.21% |
86.24% |
2,845.69% |
-78.08% |
-165.85% |
56.74% |
88.00% |
-92.63% |
147.63% |
Augmented Payout Ratio |
|
283.83% |
92.38% |
86.24% |
2,845.69% |
-88.42% |
-189.38% |
56.74% |
88.00% |
-92.63% |
147.63% |
Quarterly Metrics And Ratios for Annaly Capital Management
This table displays calculated financial ratios and metrics derived from Annaly Capital Management's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-5.97% |
-147.04% |
-84.33% |
-76.33% |
-251.21% |
325.60% |
0.59% |
-78.02% |
123.25% |
0.36% |
93.57% |
EBITDA Growth |
|
-41.67% |
-131.07% |
-76.70% |
-75.63% |
-255.36% |
343.44% |
-26.56% |
-87.79% |
127.15% |
-10.06% |
127.52% |
EBIT Growth |
|
-6.71% |
-164.65% |
-90.27% |
-80.21% |
-283.22% |
266.02% |
5.12% |
-98.23% |
113.69% |
-0.94% |
139.55% |
NOPAT Growth |
|
-35.20% |
-278.07% |
-93.09% |
-81.33% |
-282.25% |
56.08% |
50.48% |
-105.48% |
121.13% |
273.51% |
124.80% |
Net Income Growth |
|
-152.53% |
-311.92% |
-141.47% |
-81.33% |
-107.71% |
55.88% |
155.42% |
-105.48% |
114.47% |
220.92% |
-71.99% |
EPS Growth |
|
-151.47% |
-304.59% |
-132.78% |
-87.73% |
-72.86% |
60.09% |
147.49% |
-133.33% |
104.13% |
191.01% |
-82.35% |
Operating Cash Flow Growth |
|
280.91% |
-76.60% |
-150.22% |
65.28% |
-23.76% |
87.78% |
266.63% |
-58.03% |
-189.40% |
641.96% |
-109.20% |
Free Cash Flow Firm Growth |
|
-100.03% |
387.75% |
-228.37% |
-258.50% |
-308,612.67% |
-108.99% |
676.54% |
506.75% |
540.95% |
-78.99% |
-118.77% |
Invested Capital Growth |
|
0.29% |
-73.45% |
13.32% |
19.55% |
15.96% |
23.24% |
-67.45% |
-65.74% |
-62.58% |
37.63% |
39.42% |
Revenue Q/Q Growth |
|
-62.96% |
-154.17% |
151.77% |
127.82% |
-336.65% |
180.82% |
168.01% |
-50.23% |
150.34% |
248.93% |
-55.48% |
EBITDA Q/Q Growth |
|
-63.88% |
-154.27% |
171.54% |
73.76% |
-330.27% |
185.04% |
179.93% |
-71.12% |
412.13% |
181.72% |
-45.40% |
EBIT Q/Q Growth |
|
-65.73% |
-175.09% |
124.12% |
218.86% |
-417.27% |
168.04% |
132.02% |
-94.64% |
2,360.17% |
392.31% |
-63.07% |
NOPAT Q/Q Growth |
|
-75.23% |
-390.35% |
106.20% |
318.45% |
-341.76% |
30.03% |
121.26% |
-115.24% |
1,032.31% |
474.46% |
-72.46% |
Net Income Q/Q Growth |
|
-131.74% |
-223.68% |
5.35% |
119.20% |
-453.06% |
31.25% |
218.90% |
-101.90% |
1,032.31% |
474.46% |
-72.46% |
EPS Q/Q Growth |
|
-131.82% |
-218.57% |
19.73% |
115.08% |
-548.15% |
26.45% |
195.51% |
-110.59% |
155.56% |
1,520.00% |
-81.48% |
Operating Cash Flow Q/Q Growth |
|
256.84% |
-91.79% |
-605.49% |
211.55% |
64.61% |
-79.77% |
348.56% |
-71.90% |
-450.63% |
267.89% |
-105.56% |
Free Cash Flow Firm Q/Q Growth |
|
-100.05% |
1,382,994.52% |
-117.64% |
-40.23% |
9.76% |
59.73% |
1,231.33% |
-1.07% |
-2.17% |
-116.35% |
-18.66% |
Invested Capital Q/Q Growth |
|
5.75% |
-73.01% |
312.14% |
1.63% |
2.58% |
-71.32% |
8.85% |
6.98% |
12.02% |
5.50% |
10.27% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
97.55% |
0.00% |
135.05% |
103.01% |
0.00% |
105.47% |
98.61% |
57.22% |
117.06% |
94.51% |
115.90% |
EBIT Margin |
|
88.90% |
0.00% |
57.41% |
80.35% |
0.00% |
90.69% |
60.00% |
6.46% |
63.44% |
89.51% |
74.25% |
Profit (Net Income) Margin |
|
-80.16% |
0.00% |
-875.61% |
73.81% |
0.00% |
-93.67% |
482.46% |
-18.41% |
68.55% |
112.85% |
69.82% |
Tax Burden Percent |
|
98.45% |
99.99% |
101.33% |
91.86% |
102.23% |
100.44% |
100.20% |
-285.12% |
108.05% |
97.85% |
94.03% |
Interest Burden Percent |
|
-91.59% |
388.74% |
-1,505.22% |
100.00% |
100.00% |
-102.83% |
802.52% |
100.00% |
100.00% |
128.85% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
8.14% |
0.00% |
0.00% |
-0.20% |
385.12% |
-8.05% |
2.15% |
5.97% |
Return on Invested Capital (ROIC) |
|
1.90% |
0.00% |
0.60% |
0.45% |
0.00% |
-0.62% |
0.24% |
-0.01% |
0.79% |
2.61% |
1.67% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
1.12% |
0.00% |
-0.72% |
0.45% |
0.00% |
-1.69% |
1.17% |
-0.01% |
0.79% |
2.61% |
1.67% |
Return on Net Nonoperating Assets (RNNOA) |
|
5.65% |
0.00% |
-4.07% |
2.58% |
0.00% |
-1.66% |
4.35% |
-0.06% |
3.24% |
3.81% |
2.73% |
Return on Equity (ROE) |
|
7.56% |
0.00% |
-3.47% |
3.03% |
-19.73% |
-2.28% |
4.59% |
-0.07% |
4.03% |
6.42% |
4.40% |
Cash Return on Invested Capital (CROIC) |
|
3.77% |
119.18% |
-11.58% |
-19.45% |
-16.60% |
-20.66% |
101.84% |
97.33% |
91.33% |
-29.96% |
-30.84% |
Operating Return on Assets (OROA) |
|
2.49% |
0.00% |
0.83% |
0.46% |
0.00% |
0.22% |
0.15% |
0.00% |
0.45% |
0.62% |
0.58% |
Return on Assets (ROA) |
|
-2.25% |
0.00% |
-12.63% |
0.43% |
0.00% |
-0.23% |
1.17% |
-0.01% |
0.49% |
0.78% |
0.55% |
Return on Common Equity (ROCE) |
|
6.58% |
0.00% |
-2.99% |
2.60% |
-16.75% |
-1.95% |
3.95% |
-0.06% |
3.46% |
5.55% |
3.82% |
Return on Equity Simple (ROE_SIMPLE) |
|
27.90% |
0.00% |
-9.64% |
-15.62% |
-20.20% |
0.00% |
-2.93% |
-4.51% |
1.19% |
0.00% |
5.21% |
Net Operating Profit after Tax (NOPAT) |
|
214 |
-621 |
39 |
161 |
-390 |
-273 |
58 |
-8.83 |
82 |
473 |
130 |
NOPAT Margin |
|
62.56% |
0.00% |
40.18% |
73.81% |
0.00% |
-65.28% |
60.12% |
-18.41% |
68.55% |
112.85% |
69.82% |
Net Nonoperating Expense Percent (NNEP) |
|
0.78% |
0.74% |
1.32% |
0.00% |
0.26% |
1.06% |
-0.94% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
8.12% |
0.00% |
30.66% |
14.03% |
0.00% |
7.06% |
29.79% |
69.34% |
28.68% |
8.10% |
19.98% |
Operating Expenses to Revenue |
|
11.10% |
0.00% |
42.59% |
19.65% |
0.00% |
9.31% |
40.00% |
93.54% |
36.56% |
10.49% |
25.75% |
Earnings before Interest and Taxes (EBIT) |
|
304 |
-228 |
55 |
175 |
-557 |
379 |
58 |
3.10 |
76 |
375 |
139 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
333 |
-181 |
129 |
225 |
-518 |
440 |
95 |
27 |
141 |
396 |
216 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.59 |
0.78 |
0.78 |
0.84 |
0.90 |
0.87 |
0.96 |
0.99 |
0.92 |
0.93 |
1.03 |
Price to Tangible Book Value (P/TBV) |
|
0.59 |
0.78 |
0.78 |
0.85 |
0.90 |
0.87 |
0.97 |
0.99 |
0.92 |
0.93 |
1.03 |
Price to Revenue (P/Rev) |
|
2.41 |
4.46 |
6.80 |
18.36 |
0.00 |
39.37 |
44.15 |
210.60 |
14.74 |
15.00 |
15.18 |
Price to Earnings (P/E) |
|
1.87 |
4.68 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
12.11 |
23.10 |
Dividend Yield |
|
26.10% |
21.81% |
20.32% |
17.48% |
17.15% |
15.35% |
13.66% |
13.64% |
12.95% |
14.21% |
13.05% |
Earnings Yield |
|
53.35% |
21.39% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
8.26% |
4.33% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.93 |
0.81 |
0.95 |
0.97 |
0.98 |
0.89 |
0.93 |
0.94 |
0.93 |
0.93 |
0.96 |
Enterprise Value to Revenue (EV/Rev) |
|
30.58 |
9.70 |
67.26 |
173.37 |
0.00 |
103.14 |
116.07 |
601.59 |
43.99 |
46.65 |
46.74 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
28.98 |
10.06 |
65.61 |
161.06 |
0.00 |
80.12 |
103.22 |
604.66 |
42.64 |
48.38 |
46.34 |
Enterprise Value to EBIT (EV/EBIT) |
|
32.90 |
10.73 |
77.69 |
266.61 |
0.00 |
422.09 |
452.00 |
0.00 |
58.16 |
62.26 |
60.99 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
22.89 |
11.02 |
110.92 |
0.00 |
0.00 |
600.49 |
643.17 |
0.00 |
203.49 |
63.20 |
53.44 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
11.50 |
3.05 |
34.01 |
29.44 |
38.59 |
9.37 |
4.92 |
6.16 |
34.07 |
9.64 |
24.83 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
24.66 |
0.29 |
0.00 |
0.00 |
0.00 |
0.00 |
0.45 |
0.49 |
0.55 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
5.82 |
0.77 |
5.98 |
6.11 |
7.11 |
1.19 |
1.35 |
1.57 |
1.59 |
1.69 |
1.88 |
Long-Term Debt to Equity |
|
0.81 |
0.77 |
0.82 |
0.91 |
1.06 |
1.16 |
1.34 |
1.56 |
1.58 |
1.69 |
1.87 |
Financial Leverage |
|
5.05 |
2.91 |
5.69 |
5.75 |
6.46 |
0.98 |
3.71 |
3.90 |
4.13 |
1.46 |
1.63 |
Leverage Ratio |
|
6.57 |
6.46 |
6.97 |
7.09 |
8.09 |
7.71 |
7.62 |
7.90 |
8.23 |
8.19 |
8.00 |
Compound Leverage Factor |
|
-6.02 |
25.10 |
-104.92 |
7.09 |
8.09 |
-7.93 |
61.14 |
7.90 |
8.23 |
10.55 |
8.00 |
Debt to Total Capital |
|
85.34% |
43.62% |
85.67% |
85.93% |
87.68% |
54.35% |
57.50% |
61.08% |
61.32% |
62.88% |
65.31% |
Short-Term Debt to Total Capital |
|
73.51% |
0.00% |
73.96% |
73.16% |
74.67% |
1.22% |
0.38% |
0.35% |
0.32% |
0.17% |
0.48% |
Long-Term Debt to Total Capital |
|
11.83% |
43.62% |
11.71% |
12.76% |
13.01% |
53.13% |
57.12% |
60.73% |
61.00% |
62.70% |
64.83% |
Preferred Equity to Total Capital |
|
2.06% |
7.62% |
1.85% |
1.82% |
1.77% |
6.18% |
5.68% |
5.31% |
4.74% |
4.49% |
4.07% |
Noncontrolling Interests to Total Capital |
|
0.11% |
0.49% |
0.14% |
0.13% |
0.13% |
0.36% |
0.32% |
0.28% |
0.30% |
0.26% |
0.24% |
Common Equity to Total Capital |
|
12.49% |
48.27% |
12.34% |
12.12% |
10.42% |
39.11% |
36.50% |
33.33% |
33.64% |
32.37% |
30.38% |
Debt to EBITDA |
|
26.63 |
5.39 |
59.09 |
143.19 |
-220.50 |
48.77 |
64.13 |
392.29 |
28.25 |
32.62 |
31.55 |
Net Debt to EBITDA |
|
26.02 |
4.43 |
57.60 |
140.75 |
-216.90 |
43.67 |
57.27 |
357.07 |
26.03 |
30.36 |
29.21 |
Long-Term Debt to EBITDA |
|
3.69 |
5.39 |
8.07 |
21.27 |
-32.72 |
47.68 |
63.71 |
390.06 |
28.10 |
32.53 |
31.32 |
Debt to NOPAT |
|
21.03 |
5.91 |
99.90 |
-57.03 |
-51.77 |
365.52 |
399.63 |
-52.74 |
134.81 |
42.60 |
36.39 |
Net Debt to NOPAT |
|
20.55 |
4.85 |
97.39 |
-56.06 |
-50.92 |
327.31 |
356.85 |
-48.00 |
124.23 |
39.66 |
33.68 |
Long-Term Debt to NOPAT |
|
2.92 |
5.91 |
13.65 |
-8.47 |
-7.68 |
357.34 |
396.98 |
-52.44 |
134.11 |
42.49 |
36.12 |
Noncontrolling Interest Sharing Ratio |
|
12.88% |
0.00% |
13.86% |
14.13% |
15.12% |
14.36% |
14.00% |
14.11% |
14.14% |
13.52% |
13.22% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-3.99 |
55,169 |
-9,733 |
-13,648 |
-12,316 |
-4,960 |
56,111 |
55,513 |
54,307 |
-8,877 |
-10,534 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-0.01 |
83.11 |
-12.18 |
-14.31 |
-11.77 |
-4.75 |
50.97 |
49.40 |
44.66 |
-7.71 |
-9.60 |
Operating Cash Flow to Interest Expense |
|
6.13 |
0.30 |
-1.28 |
1.19 |
1.79 |
0.36 |
1.54 |
0.42 |
-1.38 |
2.44 |
-0.14 |
Operating Cash Flow Less CapEx to Interest Expense |
|
6.13 |
0.30 |
-1.28 |
1.19 |
1.79 |
0.36 |
1.54 |
0.42 |
-1.38 |
2.44 |
-0.14 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.02 |
0.01 |
0.01 |
0.00 |
0.00 |
0.00 |
0.00 |
0.01 |
0.01 |
0.01 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
74,717 |
20,164 |
83,105 |
84,463 |
86,643 |
24,852 |
27,052 |
28,940 |
32,419 |
34,202 |
37,716 |
Invested Capital Turnover |
|
0.03 |
0.04 |
0.02 |
0.01 |
0.00 |
0.01 |
0.00 |
0.00 |
0.01 |
0.02 |
0.02 |
Increase / (Decrease) in Invested Capital |
|
218 |
-55,790 |
9,771 |
13,809 |
11,926 |
4,687 |
-56,053 |
-55,522 |
-54,224 |
9,350 |
10,664 |
Enterprise Value (EV) |
|
69,397 |
16,404 |
79,048 |
81,632 |
84,522 |
22,189 |
25,035 |
27,247 |
30,007 |
31,899 |
36,171 |
Market Capitalization |
|
5,476 |
7,550 |
7,993 |
8,646 |
8,148 |
8,468 |
9,522 |
9,538 |
10,055 |
10,258 |
11,746 |
Book Value per Share |
|
$5.74 |
$20.80 |
$20.78 |
$20.73 |
$18.28 |
$19.43 |
$19.72 |
$19.27 |
$21.77 |
$19.75 |
$19.81 |
Tangible Book Value per Share |
|
$5.73 |
$20.77 |
$20.74 |
$20.70 |
$18.25 |
$19.41 |
$19.70 |
$19.25 |
$21.75 |
$19.74 |
$19.80 |
Total Capital |
|
74,717 |
20,164 |
83,105 |
84,463 |
86,643 |
24,852 |
27,052 |
28,940 |
32,419 |
34,202 |
37,716 |
Total Debt |
|
63,766 |
8,795 |
71,196 |
72,575 |
75,966 |
13,506 |
15,555 |
17,678 |
19,879 |
21,505 |
24,632 |
Total Long-Term Debt |
|
8,840 |
8,795 |
9,729 |
10,782 |
11,272 |
13,204 |
15,452 |
17,577 |
19,776 |
21,445 |
24,450 |
Net Debt |
|
62,299 |
7,218 |
69,402 |
71,338 |
74,725 |
12,094 |
13,890 |
16,090 |
18,319 |
20,017 |
22,798 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
488 |
266 |
878 |
0.00 |
179 |
119 |
-407 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
63,766 |
8,795 |
71,196 |
72,575 |
75,966 |
13,506 |
15,555 |
17,678 |
19,879 |
21,505 |
24,632 |
Total Depreciation and Amortization (D&A) |
|
30 |
47 |
74 |
49 |
39 |
62 |
37 |
24 |
64 |
21 |
78 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.70) |
($2.23) |
($1.79) |
$0.27 |
($1.21) |
($0.89) |
$0.85 |
($0.09) |
$0.05 |
$0.81 |
$0.15 |
Adjusted Weighted Average Basic Shares Outstanding |
|
429.86M |
411.35M |
489.69M |
494.17M |
494.33M |
494.54M |
500.61M |
500.95M |
515.73M |
521.74M |
587.15M |
Adjusted Diluted Earnings per Share |
|
($0.70) |
($2.23) |
($1.79) |
$0.27 |
($1.21) |
($0.89) |
$0.85 |
($0.09) |
$0.05 |
$0.81 |
$0.15 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
429.86M |
411.62M |
489.69M |
494.36M |
494.33M |
494.54M |
501.18M |
500.95M |
516.83M |
522.75M |
588.42M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
($2.23) |
$0.00 |
$0.00 |
$0.00 |
($0.89) |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
467.87M |
493.62M |
493.88M |
493.91M |
500.09M |
500.08M |
500.44M |
501.02M |
560.55M |
578.36M |
605.09M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
214 |
-621 |
39 |
161 |
-390 |
-273 |
40 |
2.17 |
53 |
473 |
130 |
Normalized NOPAT Margin |
|
62.56% |
0.00% |
40.18% |
73.81% |
0.00% |
-65.28% |
42.00% |
4.52% |
44.41% |
112.85% |
69.82% |
Pre Tax Income Margin |
|
-81.43% |
0.00% |
-864.10% |
80.35% |
0.00% |
-93.26% |
481.48% |
6.46% |
63.44% |
115.34% |
74.25% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.76 |
-0.34 |
0.07 |
0.18 |
-0.53 |
0.36 |
0.05 |
0.00 |
0.06 |
0.33 |
0.13 |
NOPAT to Interest Expense |
|
0.53 |
-0.94 |
0.05 |
0.17 |
-0.37 |
-0.26 |
0.05 |
-0.01 |
0.07 |
0.41 |
0.12 |
EBIT Less CapEx to Interest Expense |
|
0.76 |
-0.34 |
0.07 |
0.18 |
-0.53 |
0.36 |
0.05 |
0.00 |
0.06 |
0.33 |
0.13 |
NOPAT Less CapEx to Interest Expense |
|
0.53 |
-0.94 |
0.05 |
0.17 |
-0.37 |
-0.26 |
0.05 |
-0.01 |
0.07 |
0.41 |
0.12 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
46.95% |
88.00% |
-142.09% |
-88.30% |
-75.01% |
-92.63% |
-429.96% |
-286.04% |
984.01% |
147.63% |
228.20% |
Augmented Payout Ratio |
|
46.95% |
88.00% |
-142.09% |
-88.30% |
-75.01% |
-92.63% |
-429.96% |
-286.04% |
984.01% |
147.63% |
228.20% |
Key Financial Trends
Annaly Capital Management (NYSE: NLY) has demonstrated significant volatility in its financial performance over the past several quarters, reflecting the challenging macroeconomic environment and sector-specific risks faced by mortgage REITs.
Positive Trends:
- The company's total assets have grown steadily from about $85 billion in Q3 2022 to over $105 billion in Q1 2025, indicating expansion in its investment base.
- Trading account securities, a core asset, increased from approximately $70.9 billion in Q3 2022 to $70.4 billion in Q1 2025, showing sustained investment volume.
- Net interest income turned positive in recent quarters, rising from a large negative value in 2023 to $219.97 million in Q1 2025, suggesting better management or favorable interest rate spreads.
- Q1 2025 showed a net income attributable to common shareholders of $87.1 million, a significant recovery from negative earnings in much of 2023.
- The company continued to generate operating cash flow intermittently, with positive operating cash flow of $1.7 billion in Q1 2024 and still active investing and financing activities.
- Issuance of common equity was robust in recent quarters, reflecting investor willingness to buy shares: e.g., $495 million in Q1 2025 and $397 million in Q4 2024.
- Despite volatility, Annaly maintained reasonable non-interest expense levels, generally around $40-50 million per quarter, indicating controlled operating costs.
Neutral Factors:
- Preferred stock equity remained steady around $1.54 billion throughout the periods, indicating no significant changes in preferred financing.
- Dividends paid remain relatively consistent on a per-share basis, though payout ratio changes with earnings volatility; Q1 2025 cash dividends per common share were $0.70, up slightly from $0.65-$0.65 range during 2024.
- Short-term debt showed some fluctuations but remained under $200 million as of Q1 2025, emphasizing a stable short-term liability position.
Negative Trends & Risks:
- Annaly’s earnings have been highly volatile with several quarters of significant net losses, including a severe loss of $839 million in Q1 2023 and large losses continuing through late 2023.
- Net realized and unrealized capital losses on investments heavily impacted total non-interest income, with a recurring negative pattern especially notable in the years 2023 and early 2024.
- Long-term debt increased from $8.8 billion in Q3 2022 to over $24.4 billion in Q1 2025, potentially increasing financial leverage and associated risk.
- Accumulated other comprehensive income has remained negative and worsened to nearly -$787 million by Q1 2025, reflecting unrealized losses likely from interest rate or market valuation changes.
- Operating cash flows remain inconsistent with several quarters showing significant negative net cash from operating activities (e.g., -$156 million in Q1 2025), raising concerns about cash generation sustainability.
- High volatility in earnings per share from positive $0.85 in early 2024 down to deeply negative -$1.79 in Q1 2023 and fluctuated thereafter highlights substantial investor uncertainty.
In summary, Annaly appears to be recovering from significant losses experienced in 2023, with improving net interest income and positive Q1 2025 earnings indicating some stabilization. However, it continues to face risks related to capital losses on investments and leverage expansion. Retail investors should weigh the recent recovery against historical volatility and be cautious of macroeconomic factors affecting the mortgage REIT sector.
10/14/25 10:19 AM ETAI Generated. May Contain Errors.