Annaly Capital Management, Inc. (NLY) - Net Assets

Latest as of March 2026: $16.33 Billion USD

Based on the latest financial reports, Annaly Capital Management, Inc. (NLY) has net assets worth $16.33 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($138.54 Billion) and total liabilities ($122.21 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Annaly Capital Management, Inc. liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	$16.33 Billion
% of Total Assets	11.78%
Annual Growth Rate	18.63%
5-Year Change	22.47%
10-Year Change	28.5%
Growth Volatility	75.88

Annaly Capital Management, Inc. - Net Assets Trend (1997–2025)

This chart illustrates how Annaly Capital Management, Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore Annaly Capital Management, Inc. asset portfolio for the complete picture of this company's asset base.

Annual Net Assets for Annaly Capital Management, Inc. (1997–2025)

The table below shows the annual net assets of Annaly Capital Management, Inc. from 1997 to 2025. For live valuation and market cap data, see Annaly Capital Management, Inc. market cap and net worth.

Year	Net Assets	Change
2025-12-31	$16.16 Billion	+27.27%
2024-12-31	$12.70 Billion	+11.92%
2023-12-31	$11.35 Billion	-0.21%
2022-12-31	$11.37 Billion	-13.84%
2021-12-31	$13.20 Billion	-5.89%
2020-12-31	$14.02 Billion	-11.23%
2019-12-31	$15.80 Billion	+11.89%
2018-12-31	$14.12 Billion	-5.07%
2017-12-31	$14.87 Billion	+18.25%
2016-12-31	$12.58 Billion	+5.63%
2015-12-31	$11.91 Billion	-10.71%
2014-12-31	$13.33 Billion	+7.49%
2013-12-31	$12.41 Billion	-22.10%
2012-12-31	$15.92 Billion	+1.04%
2011-12-31	$15.76 Billion	+59.76%
2010-12-31	$9.86 Billion	+3.25%
2009-12-31	$9.55 Billion	+33.01%
2008-12-31	$7.18 Billion	+35.08%
2007-12-31	$5.32 Billion	+99.94%
2006-12-31	$2.66 Billion	+76.85%
2005-12-31	$1.50 Billion	-11.55%
2004-12-31	$1.70 Billion	+47.97%
2003-12-31	$1.15 Billion	+6.40%
2002-12-31	$1.08 Billion	+61.84%
2001-12-31	$667.36 Million	+392.00%
2000-12-31	$135.64 Million	+31.34%
1999-12-31	$103.27 Million	-17.97%
1998-12-31	$125.90 Million	-6.81%
1997-12-31	$135.10 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Annaly Capital Management, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 6578762.5% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	$7.07 Million	0.04%
Other Comprehensive Income	$-488.57 Million	-3.04%
Other Components	$29.73 Billion	184.76%
Total Equity	$16.09 Billion	100.00%

Annaly Capital Management, Inc. Competitors by Market Cap

The table below lists competitors of Annaly Capital Management, Inc. ranked by their market capitalization.

Company	Market Cap
Kimco Realty Corporation NYSE:KIM	$15.83 Billion
SPIC Dongfang New Energy Corp SHE:000958	$15.86 Billion
LG Chemicals KO:051910	$15.88 Billion
Bank of Beijing Co Ltd SHG:601169	$15.90 Billion
Neste Oil Oyj HE:NESTE	$15.79 Billion
Wartsila Oyj Abp HE:WRT1V	$15.79 Billion
Invitation Homes Inc NYSE:INVH	$15.79 Billion
China Energy Engineering Corp Ltd SHG:601868	$15.76 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Annaly Capital Management, Inc.'s equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 12,609,241,000 to 16,090,772,000, a change of 3,481,531,000 (27.6%).
Net income of 2,027,262,000 contributed positively to equity growth.
Dividend payments of 1,882,237,000 reduced retained earnings.
Share repurchases of 14,177,000 reduced equity.
New share issuances of 2,910,571,000 increased equity.
Other comprehensive income increased equity by 529,116,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	$2.03 Billion	+12.6%
Dividends Paid	$1.88 Billion	-11.7%
Share Repurchases	$14.18 Million	-0.09%
Share Issuances	$2.91 Billion	+18.09%
Other Comprehensive Income	$529.12 Million	+3.29%
Other Changes	$-89.00 Million	-0.55%
Total Change	$-	27.61%

Book Value vs Market Value Analysis

This analysis compares Annaly Capital Management, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.86x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has increased from 0.51x to 0.86x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1997-12-31	$42.50	$21.56	x
1998-12-31	$38.68	$21.56	x
1999-12-31	$30.70	$21.56	x
2000-12-31	$37.74	$21.56	x
2001-12-31	$63.77	$21.56	x
2002-12-31	$52.51	$21.56	x
2003-12-31	$49.41	$21.56	x
2004-12-31	$57.42	$21.56	x
2005-12-31	$49.12	$21.56	x
2006-12-31	$63.30	$21.56	x
2007-12-31	$69.44	$21.56	x
2008-12-31	$56.67	$21.56	x
2009-12-31	$69.09	$21.56	x
2010-12-31	$63.10	$21.56	x
2011-12-31	$72.09	$21.56	x
2012-12-31	$63.33	$21.56	x
2013-12-31	$49.84	$21.56	x
2014-12-31	$56.29	$21.56	x
2015-12-31	$50.27	$21.56	x
2016-12-31	$51.85	$21.56	x
2017-12-31	$55.78	$21.56	x
2018-12-31	$46.69	$21.56	x
2019-12-31	$44.03	$21.56	x
2020-12-31	$39.65	$21.56	x
2021-12-31	$36.95	$21.56	x
2022-12-31	$27.62	$21.56	x
2023-12-31	$22.76	$21.56	x
2024-12-31	$24.12	$21.56	x
2025-12-31	$25.10	$21.56	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Annaly Capital Management, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 12.60%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 30.28%
• Asset Turnover: 0.05x
• Equity Multiplier: 8.43x
Recent ROE (12.60%) is above the historical average (8.32%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1997	3.63%	85.96%	0.00x	8.64x	$-8.61 Million
1998	12.31%	88.57%	0.01x	12.13x	$2.91 Million
1999	17.56%	88.83%	0.01x	14.44x	$7.81 Million
2000	12.23%	87.88%	0.01x	15.00x	$3.02 Million
2001	13.83%	92.66%	0.01x	11.56x	$25.54 Million
2002	20.32%	94.02%	0.02x	10.79x	$111.50 Million
2003	15.67%	91.73%	0.02x	11.30x	$65.18 Million
2004	14.62%	45.19%	0.03x	11.50x	$78.55 Million
2005	-0.61%	-1.25%	0.05x	10.68x	$-159.65 Million
2006	3.53%	7.48%	0.04x	11.57x	$-171.63 Million
2007	7.79%	17.14%	0.04x	10.14x	$-117.26 Million
2008	4.82%	10.93%	0.05x	8.02x	$-372.15 Million
2009	20.53%	83.68%	0.03x	7.26x	$1.01 Billion
2010	12.85%	57.12%	0.03x	8.42x	$280.79 Million
2011	2.19%	11.32%	0.03x	6.96x	$-1.23 Billion
2012	10.90%	59.27%	0.02x	8.38x	$143.46 Million
2013	30.07%	157.03%	0.03x	6.60x	$2.49 Billion
2014	-6.32%	-89.23%	0.01x	6.63x	$-2.18 Billion
2015	3.92%	33.65%	0.02x	6.32x	$-724.04 Million
2016	11.40%	71.95%	0.02x	6.99x	$176.16 Million
2017	10.55%	66.76%	0.02x	6.84x	$82.45 Million
2018	0.39%	2.62%	0.02x	7.49x	$-1.36 Billion
2019	-13.69%	-119.20%	0.01x	8.25x	$-3.74 Billion
2020	-6.36%	-60.03%	0.02x	6.31x	$-2.29 Billion
2021	18.11%	318.06%	0.01x	5.82x	$1.07 Billion
2022	15.18%	41.57%	0.05x	7.20x	$588.38 Million
2023	-14.60%	0.00%	-0.02x	8.28x	$-2.77 Billion
2024	7.95%	15.76%	0.06x	8.21x	$-259.02 Million
2025	12.60%	30.28%	0.05x	8.43x	$418.18 Million

Industry Comparison

This section compares Annaly Capital Management, Inc.'s net assets metrics with peer companies in the REIT - Mortgage industry.

Industry Context

Industry: REIT - Mortgage
Average net assets among peers: $1,703,314,175
Average return on equity (ROE) among peers: 3.69%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Annaly Capital Management, Inc. (NLY)	$16.33 Billion	3.63%	7.49x	$15.80 Billion
Arbor Realty Trust (ABR)	$864.56 Million	8.49%	3.19x	$1.13 Billion
Acres Commercial Realty Corp (ACR)	$228.83 Million	2.77%	6.85x	$138.06 Million
Ares Commercial Real Estate (ACRE)	$473.01 Million	4.62%	3.08x	$266.31 Million
New York Mortgage Trust, Inc. (ADAM)	$2.31 Billion	-12.50%	1.02x	$793.47 Million
AFC Gamma Inc (AFCG)	$273.08 Million	7.69%	0.70x	$61.88 Million
AGNC Investment Corp. (AGNC)	$10.89 Billion	11.72%	8.22x	$11.77 Billion
Angel Oak Mortgage Inc (AOMR)	$94.86 Million	5.42%	3.84x	$209.28 Million
Apollo Commercial Real Estate Finance Inc (ARI)	$2.21 Billion	2.63%	3.21x	$1.46 Billion
ARMOUR Residential REIT Inc (ARR)	$108.71 Million	6.01%	10.12x	$2.04 Billion
Brightspire Capital Inc (BRSP)	$-421.21 Million	0.00%	0.00x	$742.58 Million

About Annaly Capital Management, Inc.

NYSE:NLY USA REIT - Mortgage

Market Cap

$15.80 Billion

Market Cap Rank

#1558 Global

#603 in USA

Share Price

$21.56

Change (1 day)

+1.32%

52-Week Range

$18.69 - $24.40

All Time High

$24.40