In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Annaly Capital Management's net current asset value per share for the quarter that ended in Mar. 2026 was €0.00.
The historical rank and industry rank for Annaly Capital Management's Net Current Asset Value or its related term are showing as below:
FRA:AAYA's Price-to-Net-Current-Asset-Value is not ranked *
in the REITs industry.
Industry Median: 7.96 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Annaly Capital Management (FRA:AAYA) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Annaly Capital Management Net Current Asset Value Related Terms
Annaly Capital Management Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Annaly Capital Management's Net Current Asset Value 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 Net Current Asset Value Chart
FRA:AAYA vs AGNC, STWD, RITM: Net Current Asset Value Comparison
For the REIT - Mortgage subindustry, Annaly Capital Management's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs REITs Industry
For the REITs industry and Real Estate sector, Annaly Capital Management's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Annaly Capital Management's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of €0.00 mean?
Annaly Capital Management (FRA:AAYA) has a Net Current Asset Value of €0.00 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Annaly Capital Management and its competitors. According to the industry distribution chart, Annaly Capital Management ranks #999999 out of 110 companies in the REITs industry.
Is Annaly Capital Management's Net Current Asset Value too high?
Annaly Capital Management's current Net Current Asset Value is €0.00. Based on the distribution chart, Annaly Capital Management ranks #999999 out of 110 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Annaly Capital Management has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Annaly Capital Management's Net Current Asset Value compare to AGNC and STWD?
According to the REITs industry distribution chart, Annaly Capital Management ranks #999999 out of 110 companies for Net Current Asset Value. This places Annaly Capital Management in the lower half of its industry. The industry median Net Current Asset Value is 7.96. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a REITs company?
The median Net Current Asset Value among REITs companies is 7.96, based on 110 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value 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 Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Annaly Capital Management and its competitors. For the REITs industry, the median Net Current Asset Value is 7.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Annaly Capital Management's current Net Current Asset Value is €0.00. 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?
Annaly Capital Management (FRA:AAYA) has a current Net Current Asset Value of €0.00. The current Net Current Asset Value is €0.00. Annaly Capital Management's overall GF Score™ is 24/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Annaly Capital Management (FRA:AAYA), the current Net Current Asset Value is €0.00 as of Mar. 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.
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.
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