Annaly Capital Management, Inc. (NLY) Financial Statements

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Annaly Capital Management financial statements at a glance

Annaly Capital Management reported revenue of $2.24 billion for fiscal year 2025 (ended December 31, 2025), up 87.3% from fiscal year 2024. Net income was $1.87 billion, a net margin of 83.3%.

At the end of fiscal year 2025 it had total assets of $135.61 billion, total liabilities of $119.45 billion and shareholders' equity of $16.09 billion, with cash of $354.78 million and total debt of $31.93 billion.

Its operations brought in $692.91 million of cash; capital spending was $915.07 million, leaving free cash flow of -$222.16 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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Annaly Capital Management, Inc.

NLYUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
2.24B
Prev Year: 1.20B
YoY: +87.3%
Net Interest Income
1.14B
Prev Year: 247.80M
YoY: +358.2%
Interest Income
5.96B
Prev Year: 4.84B
YoY: +23.1%
Interest Expense
4.82B
Prev Year: 4.59B
YoY: +5.0%
Non Interest Income
-
Prev Year: 950.59M
Fees And Commissions
-
Prev Year: 435.94M
Gain on Sale of Securities
538.51M
Prev Year: 419.72M
YoY: +28.3%
Fees and Commission Income
-
Prev Year: 485.41M
Non Interest Expense
-
Prev Year: 171.36M
Provision for Credit Losses
-
Selling General and Administrative
199.63M
Prev Year: 171.36M
YoY: +16.5%
General and Administrative Expense
199.63M
Prev Year: 171.36M
YoY: +16.5%
Salaries and Wages
151.55M
Prev Year: 130.40M
YoY: +16.2%
Other General and Administrative
48.08M
Prev Year: 40.95M
YoY: +17.4%
Pre-tax Income
2.04B
Prev Year: 1.03B
YoY: +99.1%
Provision for Income Taxes
-6.87M
Prev Year: 15.26M
YoY: -145.0%
Special Income Charges
-
Net Income Common Stockholders
1.87B
Prev Year: 847.36M
YoY: +120.6%
Other Non-operating Income (expense)
-
Net Income
2.03B
Prev Year: 1.00B
YoY: +102.3%
Net Income Including Non-Controlling Interests
2.05B
Prev Year: 1.01B
YoY: +102.8%
Net Income from Continuing Operations
2.05B
Prev Year: 1.01B
YoY: +102.8%
Noncontrolling Interests
-24.43M
Prev Year: -9.86M
YoY: -147.7%
Preferred Stock Dividends
157.93M
Prev Year: 154.55M
YoY: +2.2%
Diluted NI Available to Com Stockholders
1.87B
Prev Year: 847.36M
YoY: +120.6%
Net Income from Continuing and Discontinued Operation
2.03B
Prev Year: 1.00B
YoY: +102.3%
Interest Income After Provision for Loan Loss
-
Prev Year: 247.80M
Normalized Income
2.03B
Prev Year: 1.00B
YoY: +102.3%
Reconciled Depreciation
34.04M
Prev Year: 30.36M
YoY: +12.1%
Net Income from Continuing Operation Net Minority Interest
2.03B
Prev Year: 1.00B
YoY: +102.3%
Total Money Market Investments
-
Prev Year: 137.62M
Tax Rate for Calcs
0.21
Prev Year: 0
Operating Revenue
2.24B
Values in USD

Annaly Capital Management key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$2.2B$1.2B-$1.4B$2.0B$2.7B
Net income$1.9B$847.4M-$1.8B$1.6B$2.3B
Total assets$135.6B$103.6B$93.2B$81.9B$76.8B
Total liabilities$119.4B$90.9B$81.9B$70.5B$63.6B
Shareholders' equity$16.1B$12.6B$11.3B$11.3B$13.2B
Cash$354.8M$285.1M$275.9M$152.6M$119.6M
Total debt$31.9B$21.4B$13.2B$8.8B$7.1B
Operating cash flow$692.9M$3.3B$2.4B$5.4B$3.1B
Capital spending$915.1M$863.1M$396.8M$1.0B$538.1M
Free cash flow-$222.2M$2.4B$2.0B$4.4B$2.5B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Annaly Capital Management's revenue in fiscal year 2025?

$2.24 billion, up 87.3% from $1.20 billion in fiscal year 2024.

How much profit does Annaly Capital Management make?

Annaly Capital Management reported net income of $1.87 billion for fiscal year 2025 (83.3% of revenue).

How much cash and debt does Annaly Capital Management have?

At the end of fiscal year 2025: cash of $354.78 million and total debt of $31.93 billion.

What is Annaly Capital Management's free cash flow?

-$222.16 million in fiscal year 2025 (operating cash flow of $692.91 million minus capital spending of $915.07 million).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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