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 shown fluctuating financial performance over the last several quarters through Q1 2025. Here are the key trends observed from the company's income statements, cash flow statements, and balance sheets:
- Net income attributable to common shareholders rebounded to $87.1 million in Q1 2025, following a sharp decline to losses in 2023 and weak quarters in 2024.
- Total interest income increased steadily from approximately $798.9 million in Q4 2022 to $1.32 billion in Q1 2025, reflecting growth in investment securities interest income.
- The company maintained consistent dividend payments to common shareholders, averaging around $0.65 to $0.70 per share across recent quarters, indicating ongoing shareholder returns.
- Total assets grew from about $85.4 billion in Q3 2022 to over $105.1 billion in Q1 2025, showing strengthening on the asset side, particularly in trading account securities which reached over $70 billion.
- The balance sheet shows an increase in total equity and common equity over the period, with total equity rising from about $10.8 billion in Q3 2022 to approximately $13.1 billion in Q1 2025.
- Net interest income has been volatile, dropping to negative in some quarters (e.g., -$53.5 million in Q4 2023) but recovering to $220 million in Q1 2025, indicating sensitivity to interest rate and portfolio changes.
- Non-interest income including service charges showed large swings, with positive and negative values across quarters, driven by realized and unrealized capital gains/losses on investments.
- The company’s liabilities fluctuated somewhat but increased overall, from about $74.5 billion in Q3 2022 to $92 billion in Q1 2025, partly due to long-term debt increases and other liabilities.
- Cash and cash equivalents remained relatively stable around $1.8 billion to $1.6 billion over recent quarters, indicating liquidity maintenance.
- The company suffered significant net losses in 2023, including a large loss of $839 million in Q1 2023 and $391 million in Q4 2023, primarily due to substantial unrealized capital losses and net operating results.
- Net realized and unrealized capital losses were sizeable in some quarters (e.g., -$585 million in Q3 2023; -$302 million in Q3 2024; -$167 million in Q1 2025), reflecting market volatility impacting investment portfolio valuations.
- Total pre-tax income was negative in several quarters throughout 2023 and early 2024, highlighting periods of operational challenges and volatility in core income sources.
- Total non-interest expenses have increased slightly over time, staying in the $38 million to $48 million range, which impacts profitability margins.
Summary: Annaly Capital Management has experienced a volatile earnings cycle over the past two years, with substantial losses in 2023 influenced by investment impairments and market conditions. However, early 2025 shows signs of recovery with improved net income and increasing revenue from interest. The company continues to maintain a strong asset base and capital structure, supporting liquidity and dividend payments. Investors should watch for continued stabilization of net interest income and control over capital losses to sustain the earnings rebound.
08/03/25 06:52 AMAI Generated. May Contain Errors.