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Side-by-side financial comparison of ANNALY CAPITAL MANAGEMENT INC (NLY) and SM Energy Co (SM). Click either name above to swap in a different company.
SM Energy Co is the larger business by last-quarter revenue ($704.9M vs $366.6M, roughly 1.9× ANNALY CAPITAL MANAGEMENT INC). On growth, ANNALY CAPITAL MANAGEMENT INC posted the faster year-over-year revenue change (95.7% vs -17.3%). Over the past eight quarters, ANNALY CAPITAL MANAGEMENT INC's revenue compounded faster (14.8% CAGR vs 12.2%).
Annaly Capital Management, Inc. is one of the largest mortgage real estate investment trusts. It is organized in Maryland with its principal office in New York City.
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
NLY vs SM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $366.6M | $704.9M |
| Net Profit | $1.0B | — |
| Gross Margin | — | — |
| Operating Margin | — | 25.9% |
| Net Margin | 276.5% | — |
| Revenue YoY | 95.7% | -17.3% |
| Net Profit YoY | 110.2% | — |
| EPS (diluted) | $1.54 | $0.94 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $366.6M | $704.9M | ||
| Q3 25 | $275.8M | $811.6M | ||
| Q2 25 | $273.2M | $792.9M | ||
| Q1 25 | $220.0M | $844.5M | ||
| Q4 24 | $187.3M | $852.0M | ||
| Q3 24 | — | $643.6M | ||
| Q2 24 | — | $634.6M | ||
| Q1 24 | $-6.5M | $559.9M |
| Q4 25 | $1.0B | — | ||
| Q3 25 | $832.4M | $155.1M | ||
| Q2 25 | $57.1M | $201.7M | ||
| Q1 25 | $124.2M | $182.3M | ||
| Q4 24 | $482.1M | — | ||
| Q3 24 | — | $240.5M | ||
| Q2 24 | — | $210.3M | ||
| Q1 24 | $462.9M | $131.2M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | 22.3% | 37.2% | ||
| Q1 25 | 63.0% | 32.7% | ||
| Q4 24 | — | 33.7% | ||
| Q3 24 | — | 51.4% | ||
| Q2 24 | — | 44.0% | ||
| Q1 24 | — | 31.9% |
| Q4 25 | 276.5% | — | ||
| Q3 25 | 301.9% | 19.1% | ||
| Q2 25 | 20.9% | 25.4% | ||
| Q1 25 | 56.5% | 21.6% | ||
| Q4 24 | 257.4% | — | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | -7175.5% | 23.4% |
| Q4 25 | $1.54 | $0.94 | ||
| Q3 25 | $1.20 | $1.35 | ||
| Q2 25 | $0.03 | $1.76 | ||
| Q1 25 | $0.15 | $1.59 | ||
| Q4 24 | $0.81 | $1.63 | ||
| Q3 24 | — | $2.09 | ||
| Q2 24 | — | $1.82 | ||
| Q1 24 | $0.85 | $1.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $368.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $16.1B | $4.8B |
| Total Assets | $135.6B | $9.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $368.0M | ||
| Q3 25 | — | $162.3M | ||
| Q2 25 | — | $101.9M | ||
| Q1 25 | — | $54.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $487.9M | ||
| Q1 24 | — | $506.3M |
| Q4 25 | $16.1B | $4.8B | ||
| Q3 25 | $14.9B | $4.7B | ||
| Q2 25 | $13.4B | $4.6B | ||
| Q1 25 | $13.0B | $4.4B | ||
| Q4 24 | $12.6B | $4.2B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | $11.4B | $3.7B |
| Q4 25 | $135.6B | $9.3B | ||
| Q3 25 | $125.9B | $9.1B | ||
| Q2 25 | $112.1B | $9.0B | ||
| Q1 25 | $105.1B | $8.8B | ||
| Q4 24 | $103.6B | $8.6B | ||
| Q3 24 | — | $8.0B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | $91.5B | $6.4B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $692.9M | $451.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $692.9M | $451.9M | ||
| Q3 25 | $24.1M | $505.0M | ||
| Q2 25 | $180.7M | $571.1M | ||
| Q1 25 | $-156.3M | $483.0M | ||
| Q4 24 | $3.3B | $578.4M | ||
| Q3 24 | — | $452.3M | ||
| Q2 24 | — | $476.4M | ||
| Q1 24 | $1.7B | $276.0M |
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.03× | 3.26× | ||
| Q2 25 | 3.17× | 2.83× | ||
| Q1 25 | -1.26× | 2.65× | ||
| Q4 24 | 6.87× | — | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | 3.67× | 2.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
