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% YoY from $63.5 million in Q2 2025, and up 12.54% on a QoQ basis from $63.7 million in Q1 2026.
Annaly Capital Management (NLY) Operating Expenses (2009 - 2026) Analysis & Trends
Annaly Capital Management (NLY) has 17 years of Operating Expenses data on file, last reported at $71.7 million in Q2 2026.
- Quarterly Operating Expenses rose 13.06% year-over-year to $71.7 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $260.9 million (up 13.6% YoY) and the FY2025 annual result came in at $247.7 million, up 16.67% from the prior year.
- Operating Expenses improved to $71.7 million in Q2 2026, from $63.7 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $71.7 million in Q2 2026 to a low of $48.1 million in Q3 2022.
- A 5-year average of $56.3 million and a median of $55.7 million in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses slumped 33.59% — and 2025, when it climbed 21.5%.
- Tracing NLY's Operating Expenses over 5 years: 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 rose by 13.63% to $71.7 million in 2026.
- The last three Operating Expenses figures came in at $71.7 million (Q2 2026), $63.7 million (Q1 2026), and $63.1 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Annaly Capital Management | 17.29 Bn | 14.38 Bn | - | 71.74 Mn |
| 2 | AGNC Investment | 12.65 Bn | 11.32 Bn | - | 30.00 Mn |
| 3 | Starwood Property Trust | 5.95 Bn | 3.79 Bn | - | 524.77 Mn |
| 4 | Rithm Capital | 5.71 Bn | 5.71 Bn | - | 1.28 Bn |
| 5 | Dynex Capital | 2.93 Bn | 2.32 Bn | - | 16.21 Mn |
| 6 | Blackstone Mortgage Trust | 2.40 Bn | 1.97 Bn | - | 111.00 Mn |
| 7 | Armour Residential REIT | 2.12 Bn | 2.03 Bn | - | 17.16 Mn |
| 8 | Ellington Financial | 1.73 Bn | 1.49 Bn | - | 76.02 Mn |
| 9 | Orchid Island Capital | 1.34 Bn | 654.61 Mn | 61.82 Mn | 6.76 Mn |
| 10 | Two Harbors Investment | 1.26 Bn | 617.08 Mn | - | 51.40 Mn |
Historic Data
Download 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 |