# Annaly Capital Management. Inc. (NLY) — Stock CV

Annaly Capital Management. Inc. is a $13.8B real estate company. Revenue grew 128.2% over the last year, and it keeps 186¢ of every dollar of sales as profit. It trades at 4.7× earnings — around the middle of its own history.

> Annaly Capital Management Inc is an American mortgage real estate investment trust. Its business objective is to generate net income for distribution to its stockholders and optimize its returns through prudent management of its diversified investment strategies.

## Identity

- **Ticker**: NLY
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: NEW YORK, NY
- **Employees**: 212
- **Website**: https://www.annaly.com
- **Market cap**: $13.8B
- **Last price**: $18.34
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $1.58B
- **Net income**: $2.95B
- **Free cash flow**: $886M
- **P/E**: 4.7
- **Revenue growth (YoY)**: 128.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 0 |
| Profitability | 82 |
| Health | 25 |
| Quality | 10 |
| Moat | 0 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +128.2% YoY
- [x] Profitable — $2.95B TTM
- [ ] Profit growing — -9.0% YoY
- [x] Generates cash — $886M TTM
- [ ] Debt under control — current ratio 0.04
- [x] Established company — $13.8B market cap
- [ ] Not printing shares — +81.3% shares over ~5y
- [x] Proven track record — 7/10 profitable years
- [ ] Financially stable — health score 25/100
- [x] Pays a dividend — yield 15.21%
- [x] Valuation not extreme — P/E 4.7

## Experience (career milestones)

- **FY2021** — Best year on record: $2.39B net income
- **FY2020** — Positive free cash flow every year since: 6-year streak
- **FY2017** — Revenue crossed $1B: $1.48B for the year
- **FY2016** — First recorded profitable year: $1.43B net income
- **2016** — The company acquired Hatteras Financial for $1.5 billion in cash and stock
- **2013** — The company acquired CreXus Investment for $996 million
- **2004** — The company acquired Fixed Income Discount Advisory, an investment adviser, for $40.5 million in stock
- **1997** — Annaly Capital Management was founded in 1997 by Michael A.J

## Strengths

- Strongly profitable — 186.4% net margin
- Revenue growing 128.2% year over year
- Strong cash conversion — FCF is 56.0% of revenue

## Watch-outs

- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.73B | $2.39B | $3.08B |
| FY2022 | $1.47B | $1.73B | $5.37B |
| FY2023 | -$111M | -$1.64B | $2.37B |
| FY2024 | $248M | $1.00B | $3.31B |
| FY2025 | $1.14B | $2.03B | $693M |

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Source: https://stockcv.com/NLY — derived from company filings; may be delayed or incomplete. Information, not investment advice.