Annaly Capital Management, Inc. NLY
Annaly Capital Management, Inc. (NLY) operates as a multifaceted financial firm, specializing in managing capital across various sectors. Its core business encompasses mortgage-related investments and lending to middle-market corporations. NLY strategically deploys capital across a diverse range of assets, including government-sponsored (Agency) and privately-issued (non-Agency) mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights, credit risk transfer instruments, corporate debt, and other commercial real estate investments. Operating as a Real Estate Investment Trust (REIT), Annaly benefits from a particular tax structure. This designation exempts it from federal corporate income tax, provided it distributes the majority of its taxable earnings to its investors. Established in 1996, the firm's corporate headquarters are located in New York City.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-12 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / EAD / leverage are from the Q1 2026 earnings release (filed 2026-04-21) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model NLY yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $6.70B | $2.03B | $2.69M | $6.87B | $692.91M |
| 2024 | $6.36B | $1.00B | $30.36M | $5.65B | $3.31B |
| 2023 | $5.61B | $-1.64B | $24.81M | $2.27B | $2.37B |
| 2022 | $4.15B | $1.73B | $20.51M | $3.10B | $5.37B |
| 2021 | $751.40M | $2.39B | $24.64M | $2.67B | $3.08B |
| 2020 | $1.48B | $-891.16M | $22.70M | $3.62M | $527.97M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-31 | 2026-06-10 | $0.75 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-30 | 2026-03-12 | $0.70 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-30 | 2025-12-10 | $0.70 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-31 | 2025-09-10 | $0.70 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-31 | 2025-06-04 | $0.70 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-30 | 2025-03-13 | $0.70 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-31 | 2024-12-05 | $0.65 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-31 | 2024-09-10 | $0.65 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-31 | 2024-06-05 | $0.65 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-04-30 | 2024-03-14 | $0.65 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-31 | 2023-12-07 | $0.65 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-31 | 2023-09-07 | $0.65 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-31 | 2023-06-07 | $0.65 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-28 | 2023-03-14 | $0.65 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-31 | 2022-12-08 | $0.88 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-31 | 2022-09-08 | $0.88 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-29 | 2022-06-08 | $0.22 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-29 | 2022-03-17 | $0.22 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-31 | 2021-12-09 | $0.22 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-29 | 2021-09-09 | $0.22 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-30 | 2021-06-09 | $0.22 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-30 | 2021-03-17 | $0.22 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-29 | 2020-12-10 | $0.22 | Quarterly |
| 2020-09-29 | 2020-09-30 | 2020-10-30 | 2020-09-10 | $0.22 | Quarterly |
Coverage (payout of operating cash flow): 277.54%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — NLY
Annaly Capital's Dividend Yields 13%. Here's What Has to Hold for the Payout to Last.
Why Annaly Capital Management (NLY) Outpaced the Stock Market Today
Annaly Capital Management (NLY) Reports Next Week: Wall Street Expects Earnings Growth
These 2 Finance Stocks Could Beat Earnings: Why They Should Be on Your Radar
Harvesting High Yields Even If The Economy Crashes
Don’t Let Your Kids’ Braces Chew Up Your Retirement
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.