NLY
Annaly Capital Management, Inc.
NLY's fundamentals are mixed, but it looks expensive: trading at 11x earnings, more than twice its usual 4.3x. Analysts expect earnings to hold roughly steady.
NLY Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| N/A | |
| N/A |
NLY's profitability is currently stable. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for real estate companies like NLY.
NLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 2.9x | $4.54 | -74% |
| Fair | 4.3x | $6.70 | -62% |
| Forward | 5.6x | $17.57 | — |
| Expensive | 9.6x | $15.12 | -14% |
| Current | 11x | $17.57 | — |
Historical ranges are pointers, not guarantees.
NLY's PE is in its expensive range at 11x. On analysts' estimates for next year's earnings, today's price would be 5.6x.
NLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Growth | |
| -- | |
| Limited | |
| Moderate |
Analysts expect NLY's revenue to grow, with its earnings and profitability holding steady.
NLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.13 | +99% |
| Q3 2026 | $1.57 | -28% |
| Q2 2026 | $4.13 | +297% |
| Q1 2024 | -$0.97 | +$1.46 |
| Q4 2023 | -$3.61 | -175% |
| Q3 2023 | -$4.87 | -161% |
| Q2 2023 | -$4.36 | -143% |
| Q1 2023 | -$2.43 | -135% |
| Q4 2022 | $4.80 | -25% |
NLY's earnings per share have fallen from their peak: $1.57 over the past year, against $12.28 in early 2021.
NLY Quarterly Revenue
NLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.9B | +11752% |
| Q2 2026 | $1.6B | +796% |
| Q1 2026 | -$1.4B | -$1.2B |
| Q4 2025 | $644.3M | -77% |
| Q3 2025 | $24.1M | +$1.7B |
| Q2 2025 | $180.7M | -62% |
| Q1 2025 | -$156.3M | -109% |
| Q4 2024 | $2.8B | +642% |
NLY's free cash flow was $3.7B over the past year, up 30% from the year before. Free cash flow isn't a meaningful measure for real estate companies like NLY.
NLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.3% | +24.1M shares |
| 1 year | +16% | +107M shares |
| 3 years | +55% | +270M shares |
| 5 years | +117% | +412M shares |
| Available history | +113% | +406M shares |
NLY has 764M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q4 2020 | $34.3M |
| Q3 2020 | $31.4M |
| Q4 2019 | $68.3M |
NLY Net Leverage
NLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 26.5 | Oversold |
| Stochastic | 8.6 | Oversold |
NLY's weekly RSI is 27 (oversold) and its Stochastic is 9 (oversold).
NLY PE vs Real Estate Sector
| Metric | NLY | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 24x | 53% below |
| PE % | 91 | 23 | 68 pts above |
NLY is trading at 11x earnings, a 53% discount to the Real Estate sector's median of 24x.
NLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.6 | 5.4% below |
| 20 week MA | $21.0 | 16% below |
| 50 week MA | $21.9 | 20% below |
| 100 week MA | $21.1 | 17% below |
| 200 week MA | $20.3 | 14% below |
NLY is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
NLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.0 | $33.8 | -13% |
| 2021 | $33.8 | $32.8 | -3% |
| 2022 | $32.8 | $22.5 | -31% |
| 2023 | $22.5 | $19.4 | -14% |
| 2024 | $19.4 | $18.9 | -2.2% |
| 2025 | $18.9 | $23.1 | +22% |
| 2026 YTD | $23.1 | $17.6 | -24% |
NLY has finished lower in five of the last six years. It's down 24% so far in 2026.