Annaly Capital Management (NLY) Balance Sheet: Assets & Liabilities

Annaly Capital Management (NLY) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Annaly Capital Management reported total assets of $135.61B and total liabilities of $119.45B. Shareholders' equity was $16.09B, up 27.6% from $12.61B a year earlier. Total debt stood at $111.89B against $2.04B in cash and short-term investments, a net debt position of $109.85B. That puts debt-to-equity at 6.95, compared with 1.70 a year earlier.

Annaly Capital Management Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Annaly Capital Management, Inc. (NLY) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	2.04	0.29	0.28	0.15	0.12	1.24	1.85	1.74	0.71
Short-Term Investments	0.00	2.06	4.21	0.00	0.00	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	2.04	2.35	4.49	0.15	0.12	1.24	1.85	1.74	0.71
Accounts Receivable	0.93	1.07	1.22	0.64	0.23	0.28	0.45	0.43	0.32
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.20	-0.31
Other Current Assets	0.00	0.00	1.14	1.42	0.00	-1.53	0.00	0.00	0.00
Total Current Assets	2.96	3.42	6.85	2.21	0.35	0.00	2.31	0.43	0.32
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	0.00	0.00	0.00	0.00	0.01	0.02	-105.79	0.58
Long-Term Investments	128.49	2.06	4.21	14.75	15.21	0.00	119.24	95.36	5.78
Goodwill	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.10	0.07
Intangible Assets	0.01	0.46	0.35	1.08	0.64	0.00	0.38	0.56	0.60
Other Non-Current Assets	-128.49	68.07	65.71	63.81	60.56	-0.24	-119.71	-96.02	95.21
Total Non-Current Assets	0.01	100.14	86.38	79.64	76.41	0.00	119.71	105.79	101.76
Total Assets	135.61	103.56	93.23	81.85	76.76	88.46	130.30	105.79	101.76
Current Liabilities
Accounts Payable	2.06	0.27	0.29	0.33	0.09	0.00	0.46	0.58	0.25
Short-Term Debt	81.87	0.75	0.50	59.76	55.67	64.87	0.00	0.00	0.00
Current Portion of Long-Term Debt	81.59	65.69	62.20	59.51	48.43	-	-	-	-
Accrued Liabilities	0.88	0.64	0.61	0.74	0.41	-	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	-102.30	-100.21	-94.49
Other Current Liabilities	0.88	0.38	0.33	1.57	0.47	-64.87	-0.46	-0.58	-0.25
Total Current Liabilities	84.80	69.86	68.70	61.66	56.23	0.00	0.94	1.15	0.46
Non-Current Liabilities
Long-Term Debt	30.03	20.70	12.70	8.55	6.20	7.01	10.56	89.14	84.82
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.02	-91.67	-86.89
Other Non-Current Liabilities	4.66	0.30	0.48	0.28	1.13	-7.01	-10.56	-89.14	-84.82
Total Non-Current Liabilities	34.65	21.00	13.19	8.82	7.34	0.00	10.56	91.67	86.89
Total Liabilities	119.45	90.86	81.88	70.48	63.57	74.43	114.50	91.67	86.89
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.00	0.00	0.01	0.01	0.01	0.01
Retained Earnings	-13.16	-13.17	-12.62	-9.54	-9.65	-10.67	-8.31	-4.49	-2.96
Accumulated Other Comprehensive Income	-0.49	-1.02	-1.34	-3.71	0.96	3.37	2.14	-1.98	-1.13
Additional Paid-in Capital	27.93	25.26	23.67	22.98	20.32	19.75	19.97	18.79	17.22
Minority Interest	0.07	0.09	0.09	0.10	0.03	0.01	0.00	0.01	0.01
Shares Outstanding	0.71	0.58	0.50	0.47	-	-	-	-	-
Total Stockholders' Equity	16.09	12.61	11.26	11.27	13.17	14.01	15.79	14.11	14.87
Total Liabilities & Equity	135.61	103.56	93.23	81.85	76.76	88.46	130.30	105.79	101.76

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Annaly Capital Management Balance Sheet

How much debt does Annaly Capital Management have?

Annaly Capital Management had total debt of $111.89B as of Dec 31, 2025, against $2.04B in cash and short-term investments. Its debt-to-equity ratio was 6.95. Total debt was $21.45B a year earlier.

What are Annaly Capital Management's total assets?

Annaly Capital Management reported total assets of $135.61B as of Dec 31, 2025, up 31.0% from $103.56B a year earlier. Total liabilities were $119.45B.

What is Annaly Capital Management's shareholders' equity?

Annaly Capital Management's shareholders' equity was $16.09B as of Dec 31, 2025, or about $22.76 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition