Annaly Capital Management (NLY-PI) Operating Expenses (2009 - 2026)
Annaly Capital Management (NLY-PI) reported Operating Expenses of $63.7 million for Q1 2026, up 8.35% on a YoY basis from $58.8 million in Q1 2025, and up 0.96% quarter-over-quarter from $63.1 million in Q4 2025.
Annaly Capital Management (NLY-PI) Operating Expenses (2009 - 2026) Analysis & Trends
Annaly Capital Management has reported Operating Expenses for 17 years, with the latest figure at $63.7 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 8.35% year-over-year to $63.7 million; the trailing twelve-month figure through Mar 2026 stood at $252.6 million (up 13.42% YoY), and the FY2025 full-year result was $247.7 million, up 16.67% from the prior year.
- Operating Expenses for Q1 2026 stood at $63.7 million, up from $63.1 million in the prior quarter.
- The five-year high for Operating Expenses was $63.7 million in Q1 2026, with the low at $48.1 million in Q3 2022.
- Historically, Operating Expenses has averaged $55.4 million across 5 years, with a median of $55.2 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses slumped 33.59% — and 2025, when it climbed 21.5%.
- Annaly Capital Management's Operating Expenses stood at $56.3 million in 2022, then declined by 14.2% to $48.3 million in 2023, then climbed by 11.79% to $54.0 million in 2024, then increased by 16.93% to $63.1 million in 2025, then advanced by 0.96% to $63.7 million in 2026.
- The last three Operating Expenses figures came in at $63.7 million (Q1 2026), $63.1 million (Q4 2025), and $62.3 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 15.34 Bn | 13.08 Bn | - | 63.74 Mn |
| 2 | AGNC Investment | 11.42 Bn | 10.75 Bn | - | 34.00 Mn |
| 3 | Starwood Property Trust | 6.25 Bn | 6.25 Bn | - | 480.31 Mn |
| 4 | Rithm Capital | 5.08 Bn | 4.78 Bn | - | 1.24 Bn |
| 5 | Blackstone Mortgage Trust | 3.10 Bn | 2.56 Bn | - | 110.77 Mn |
| 6 | Dynex Capital | 2.58 Bn | 1.80 Bn | - | 21.25 Mn |
| 7 | Armour Residential REIT | 2.05 Bn | 1.32 Bn | - | 15.35 Mn |
| 8 | Ellington Financial | 1.67 Bn | 1.39 Bn | - | 80.37 Mn |
| 9 | Two Harbors Investment | 1.29 Bn | 746.67 Mn | - | 49.45 Mn |
| 10 | Annaly Capital Management | - | - | - | 63.74 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 63.74 Mn |
| Dec 31, 2025 | 63.14 Mn |
| Sep 30, 2025 | 62.29 Mn |
| Jun 30, 2025 | 63.45 Mn |
| Mar 31, 2025 | 58.83 Mn |
| Dec 31, 2024 | 53.99 Mn |
| Sep 30, 2024 | 53.39 Mn |
| Jun 30, 2024 | 56.51 Mn |
| Mar 31, 2024 | 48.42 Mn |
| Dec 31, 2023 | 48.30 Mn |
| Sep 30, 2023 | 49.75 Mn |
| Jun 30, 2023 | 55.20 Mn |
| Mar 31, 2023 | 52.27 Mn |
| Dec 31, 2022 | 56.30 Mn |
| Sep 30, 2022 | 48.10 Mn |
| Jun 30, 2022 | 49.83 Mn |
| Mar 31, 2022 | 58.53 Mn |
| Dec 31, 2021 | 54.34 Mn |
| Sep 30, 2021 | 59.91 Mn |
| Jun 30, 2021 | 75.04 Mn |