NLYANNALY CAPITAL MANAGEMENT INC
Real Estate Investment Trusts
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $14.3B
- Employees
- 212
- Net debt / EBITDA
- —
- −$982M net debt
- AI in 10-K
- 2.8
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 3 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$15M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes34% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo71% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.8 per 10K words · 67th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$14.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$7M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $2.4B | $1.7B | −$1.6B | $1.0B | $2.1B | 103% |
| Operating cash flow | $3.1B | $5.4B | $2.4B | $3.3B | $693M | 79% |
| Buybacks | $0 | $0 | — | — | — | |
| Dividends | $321M | $412M | $325M | $376M | $495M | 32% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $7M · 9
- Net
- −$7M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $19M | $29M | 128 | 122 |
| FY2024 | $18M | $21M | 91 | 103 |
| FY2023 | $15M | $17M | 85 | 97 |
| FY2022 | $14M | $11M | 81 | 83 |
| FY2021 | $9M | $10M | 103 | 117 |