NLY (Annaly Capital Management) EBIT: $8,146 Mil (TTM As of Jun. 2026)

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NLY Annaly Capital Management Inc NLY
47 GF Score
Price $21.31
GF Value $17.69
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Annaly Capital Management EBIT?

Annaly Capital Management NLY +1.24% 47 EBIT is $8,146 Mil as of Jun. 2026. GuruFocus rates NLY with a GF Score™ of 47/100 and a GF Value™ of $17.69 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Annaly Capital Management's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2026 was $2,159 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2026 was $8,146 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Annaly Capital Management's annualized ROC % for the quarter that ended in Jun. 2026 was 3.79%. Annaly Capital Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 33,075.57%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Annaly Capital Management's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 14.65%.


Annaly Capital Management  (NYSE:NLY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Annaly Capital Management's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=8634.708 * ( 1 - 0.827% )/( (222725.016 + 228607.331)/ 2 )
=8563.29896484/225666.1735
=3.79 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=138537.591 - 0 - ( 1912.444 - max(0, 87824.858 - 3637.433+1912.444))
=222725.016

Invested Capital(Q: Jun. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=143741.176 - 0 - ( 2912.086 - max(0, 88836.286 - 3970.131+2912.086))
=228607.331

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Annaly Capital Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=8634.708/( ( (26.237 + max(-2381.56, 0)) + (25.975 + max(-1315.281, 0)) )/ 2 )
=8634.708/( ( 26.237 + 25.975 )/ 2 )
=8634.708/26.106
=33,075.57 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + 0 + ) - (0 + 0 + 2381.56)
=-2381.56

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + 0 + ) - (0 + 0 + 1315.281)
=-1315.281

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Annaly Capital Management's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Jun. 2026 )
=8146.224/55596.411
=14.65 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Annaly Capital Management EBIT Related Terms


Annaly Capital Management EBIT Historical Data

* Premium members only.

The historical data trend for Annaly Capital Management's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Annaly Capital Management EBIT Chart

Annaly Capital Management Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,650.20 3,081.73 2,243.94 5,619.27 6,868.53

Annaly Capital Management Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,206.50 2,091.99 2,334.33 1,561.24 2,158.68

NLY vs AGNC, STWD, RITM: EBIT Comparison

For the REIT - Mortgage subindustry, Annaly Capital Management's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Annaly Capital Management EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Annaly Capital Management's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Annaly Capital Management's EV-to-EBIT falls into.


NLY
47GF Score
Annaly Capital Management Inc NLY
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Annaly Capital Management EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $8,146 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $8,146 Mil mean?
Annaly Capital Management (NLY) has a EBIT of $8,146 Mil as of Jun. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Annaly Capital Management.
Is Annaly Capital Management's EBIT too high?
Annaly Capital Management's current EBIT is $8,146 Mil. Overall, Annaly Capital Management has a GF Score™ of 47/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Annaly Capital Management's EBIT compare to AGNC and STWD?
Annaly Capital Management's EBIT of $8,146 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a REITs company?
A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Annaly Capital Management. Annaly Capital Management's current EBIT is $8,146 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Annaly Capital Management stock overvalued right now?
Based on GuruFocus' analysis, Annaly Capital Management (NLY) is currently considered Modestly Overvalued. The stock's GF Value™ is $17.69, compared to a current price of $21.31 — trading 20.5% above its estimated fair value. The current EBIT is $8,146 Mil. Annaly Capital Management's overall GF Score™ is 47/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Annaly Capital Management (NLY), the current EBIT is $8,146 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Annaly Capital Management (NLY) Overvalued in 2026?

Based on GuruFocus' analysis, Annaly Capital Management stock appears to be overvalued. The current stock price of $21.31 is trading 20.5% above its estimated GF Value™ of $17.69. GuruFocus considers Annaly Capital Management to be Modestly Overvalued.

Key valuation signals for NLY:

  • EBIT: $8,146 Mil
  • GF Value™: $17.69 vs. price of $21.31 (20.5% above fair value)
  • GF Score™: 47/100 with 8 warning signs

No single metric tells the full story. See the NLY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Annaly Capital Management Business Description

Industry Real EstateREITs
Address 1211 Avenue of the Americas, New York, NY, USA, 10036
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. The company's reportable operating segments are: the Agency segment, which invests in Agency mortgage-backed securities collateralized by residential mortgages; the Residential Credit segment, which invests in non-Agency residential whole loans and securitized products within the residential and commercial markets; the Mortgage Servicing Rights segment; and Corporate & Other. Maximum revenue for the company is generated from its Agency segment.
47GF Score

Get the complete analysis for NLY

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$21.31
Price
$17.69
GF Value