Annaly Capital Management (FRA:AAYA) Scaled Net Operating Assets: 0.38 (As of Mar. 2026)


FRA:AAYA Annaly Capital Management Inc FRA:AAYA
24 GF Score
Price €19.58
! 8 Warning Signs
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What is Annaly Capital Management Scaled Net Operating Assets?

Annaly Capital Management FRA:AAYA -0.71% 24 Scaled Net Operating Assets is 0.38 as of Mar. 2026. GuruFocus rates FRA:AAYA with a GF Score™ of 24/100. The stock has 8 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Annaly Capital Management's operating assets for the quarter that ended in Mar. 2026 was €119,518 Mil. Annaly Capital Management's operating liabilities for the quarter that ended in Mar. 2026 was €76,019 Mil. Annaly Capital Management's Total Assets for the quarter that ended in Dec. 2025 was €115,811 Mil. Therefore, Annaly Capital Management's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.38.

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Annaly Capital Management Inc FRA:AAYA
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Annaly Capital Management Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Annaly Capital Management's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(115507.821-74745.086)/98896.347
=0.41

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=115810.802 - 302.981
=115507.821

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=102010.238 - 26347.102 - 918.05
=74745.086

Annaly Capital Management's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(119517.847-76019.094)/115810.802
=0.38

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=119835.016 - 317.169
=119517.847

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=105713.19 - 28720.971 - 973.125
=76019.094

* 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 Scaled Net Operating Assets of 0.38 mean?
Annaly Capital Management (FRA:AAYA) has a Scaled Net Operating Assets of 0.38 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Annaly Capital Management and its competitors.
Is Annaly Capital Management's Scaled Net Operating Assets too high?
Annaly Capital Management's current Scaled Net Operating Assets is 0.38. 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 Scaled Net Operating Assets compare to AGNC and STWD?
Annaly Capital Management's Scaled Net Operating Assets of 0.38 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 Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Annaly Capital Management and its competitors. Annaly Capital Management's current Scaled Net Operating Assets is 0.38. 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 Scaled Net Operating Assets of 0.38. The current Scaled Net Operating Assets is 0.38. Annaly Capital Management's overall GF Score™ is 24/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Annaly Capital Management (FRA:AAYA), the current Scaled Net Operating Assets is 0.38 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 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.
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