Annaly Capital Management (NLY) Operating Expenses (2009 - 2026)
Annaly Capital Management's (NLY) quarterly Operating Expenses came in at $71.7 million in Q2 2026, up 13.06% on a YoY basis from $63.5 million in Q2 2025, and up 12.54% quarter-over-quarter from $63.7 million in Q1 2026.
Analysis
Annaly Capital Management (NLY) Operating Expenses (2009 - 2026) Analysis & Trends
Annaly Capital Management (NLY) has reported Operating Expenses for 17 consecutive years, with $71.7 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 13.06% year-over-year to $71.7 million; the trailing twelve-month figure through Jun 2026 stood at $260.9 million (up 13.6% YoY), and the FY2025 full-year result was $247.7 million, up 16.67% from the prior year.
- Operating Expenses advanced to $71.7 million in Q2 2026 per NLY's latest filing, from $63.7 million in the prior quarter.
- Across five years, Operating Expenses topped out at $71.7 million in Q2 2026 and bottomed at $48.1 million in Q3 2022.
- Historically, Operating Expenses has averaged $56.3 million across 5 years, with a median of $55.7 million in 2022.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses tumbled 33.59% in 2022, then grew 21.5% in 2025.
- Over 5 years, Operating Expenses stood at $56.3 million in 2022, then retreated by 14.2% to $48.3 million in 2023, then increased by 11.79% to $54.0 million in 2024, then gained by 16.93% to $63.1 million in 2025, then advanced by 13.63% to $71.7 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $71.7 million, $63.7 million, and $63.1 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 16.87 Bn | 13.96 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.43 Bn | 11.10 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.84 Bn | 3.67 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.57 Bn | 5.57 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.88 Bn | 2.27 Bn | - | 16.21 Mn |
| 6 | Two Harbors Investment | 2.65 Bn | 2.01 Bn | - | 51.40 Mn |
| 7 | Blackstone Mortgage Trust | 2.35 Bn | 1.91 Bn | - | 111.00 Mn |
| 8 | Armour Residential REIT | 2.11 Bn | 2.02 Bn | - | 17.16 Mn |
| 9 | Ellington Financial | 1.71 Bn | 1.46 Bn | - | 76.02 Mn |
| 10 | Orchid Island Capital | 1.32 Bn | 637.53 Mn | 61.82 Mn | 6.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 71.74 Mn |
| 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 |