NLY Annaly Capital Management margins

Relative Growth: Rel. Growth: 8

Relative Strength: Rel. Strength: 27

Relative Valuation: Rel. Valuation: 41

Relative Profitability: Rel. Profitability: 69

Gross margin

100%

Operating margin

84.2%

EBITDA margin

85.6%

Net margin

81.9%

Current Annaly Capital Management reports a gross margin of 100%, an operating margin of 84.2%, an EBITDA margin of 85.6%, and a net margin of 81.9%. Net margin contracted by 5.5 percentage points, while other available margins were unchanged.

NLY margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Annaly Capital Management's margins averaged 100% gross, 82.5% operating, 83.43% EBITDA, and 79.52% net. For Annaly Capital Management, operating, EBITDA, and net margins are above their three-year averages.

NLY margin expansion

Year-over-year margin changes in percentage points

Operating margin contracted by 4.6 percentage points, EBITDA margin by 4.5 percentage points, and net margin by 5.5 percentage points. Gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-4.6pp

EBITDA margin expansion

-4.5pp

Net margin expansion

-5.5pp

NLY Gross margin

Across the last 3 years, Annaly Capital Management's gross margin averaged 100%. The current gross margin stands at 100%, in line with its three-year average. Gross margin was highest at 100% in Sep 2026 and lowest at 100% in Sep 2024.

NLY Operating margin

Annaly Capital Management recorded an average operating margin of 82.5% across the last 3 years. Annaly Capital Management currently reports an operating margin of 84.2%, 1.7 percentage points above its three-year average. Annaly Capital Management's operating margin ranged from a low of 48.1% in Sep 2024 to a high of 93.3% in Jun 2026.

NLY EBITDA margin

Annaly Capital Management recorded an average EBITDA margin of 83.43% across the last 3 years. Annaly Capital Management currently reports an EBITDA margin of 85.6%, 2.2 percentage points above its three-year average. Over the last 3 years, Annaly Capital Management's EBITDA margin peaked at 93.6% in Jun 2026 and reached a low of 47.2% in Sep 2024.

NLY Net margin

Annaly Capital Management recorded an average net margin of 79.52% across the last 3 years. Annaly Capital Management currently reports a net margin of 81.9%, 2.4 percentage points above its three-year average. The net margin for Annaly Capital Management moved between 36.2% in Sep 2024 and 92.8% in Jun 2026.

NLY margin group comparison

Margins compared with peer-group, industry and sector averages

Annaly Capital Management's gross margin of 100% is higher than the Real Estate sector, the industry and its peers average. In comparison with the Real Estate sector average of 62.7%, Annaly Capital Management's gross margin is 59% higher.

NLY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Annaly Capital Management's gross margin?

The current gross margin for NLY is 100% as of Sep 30, 2026.

What is Annaly Capital Management's operating margin?

As of Sep 30, 2026, NLY has an operating margin of 84.2%.

What is Annaly Capital Management's EBITDA margin?

The current EBITDA margin for NLY is 85.6% as of Sep 30, 2026.

What is Annaly Capital Management's net margin?

As of Sep 30, 2026, NLY has a net margin of 81.9%.

What are the average margins of NLY?

Across the last 3 years, NLY averaged 100.0% gross, 82.5% operating, 83.4% EBITDA, and 79.5% net.

What are the highest historical margins of NLY?

Over the last 5 years, Annaly Capital Management's highest margins were 100% gross in Sep 2026, 95.9% operating in Jun 2022, 96.2% EBITDA in Jun 2022, and 94.6% net in Jun 2022.

What are the lowest historical margins of NLY?

Over the last 5 years, Annaly Capital Management's lowest margins were 100% gross in Dec 2021, 48.1% operating in Sep 2024, 47.2% EBITDA in Sep 2024, and 36.2% net in Sep 2024.