NLY vs RITM: Annaly Capital Management and Rithm Capital compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Annaly Capital Management is the larger company, worth $12.9B, about 2.7 times Rithm Capital.
- On earnings, Annaly Capital Management is the cheaper stock (5.7x vs 7.7x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | NLY | RITM |
|---|---|---|
| Market cap | $12.9B | $4.8B |
| Share price | $18.30 | $8.64 |
| Revenue (last fiscal year) | — | $4.6B |
| Free cash flow (last fiscal year) | — | — |
| Revenue growth, last year | — | +5.1% |
| Revenue growth per year, last 5 fiscal years | — | +5.3% |
| Operating margin | — | — |
| Net margin | — | 9.2% |
| Return on equity | 17.4% | 5.5% |
| P/E (trailing) | 5.67x | 7.73x |
| Price / free cash flow | — | — |
| EV / EBITDA | 16.3x | 49.2x |
| FCF growth the price implies | — | — |
| Dividend yield | 15.7% | 11.9% |
| Debt / equity | 7.49x | 5.24x |
| Fundamental grade | C | D |
| Superinvestors holding it | 2 | 1 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Annaly Capital Management
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | — | — | — |
| 2022 | — | — | — |
| 2023 | — | — | — |
| 2024 | — | — | — |
| 2025 | — | — | — |
Rithm Capital
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.7B | — | — |
| 2022 | $4.9B | — | — |
| 2023 | $3.7B | — | — |
| 2024 | $4.9B | — | — |
| 2025 | $4.6B | — | — |
Where the revenue comes from
Annaly Capital Management
No segment breakdown reported.
Rithm Capital · by segments, 2025
Origination and Servicing$3.1B68%
Asset management$699M15%
Investment Portfolio$445M10%
Residential Transitional Lending$302M7%
Corporate Category$10M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open NLY in InvestinglyQuestions
Which is bigger, Annaly Capital Management or Rithm Capital?
Annaly Capital Management (NLY), at $12.9B against $4.8B.
Is NLY or RITM cheaper?
By trailing P/E, Annaly Capital Management (5.67x) is cheaper than Rithm Capital (7.73x). A lower multiple can also mean the market expects less growth.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.