WallStSmart

Annaly Capital Management, Inc. (NLY)vsChicago Atlantic Real Estate Finance Inc (REFI)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Annaly Capital Management, Inc. generates 4257% more annual revenue ($2.38B vs $54.66M). NLY leads profitability with a 85.1% profit margin vs 65.9%. NLY trades at a lower P/E of 7.3x. NLY earns a higher WallStSmart Score of 75/100 (B).

NLY

Strong Buy

75

out of 100

Grade: B

Growth: 9.3Profit: 7.5Value: 7.3Quality: 2.5
Piotroski: 3/9Altman Z: -0.56

REFI

Buy

51

out of 100

Grade: C-

Growth: 4.0Profit: 8.5Value: 6.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NLYUndervalued (+83.2%)

Margin of Safety

+83.2%

Fair Value

$135.72

Current Price

$21.41

$114.31 discount

UndervaluedFair: $135.72Overvalued
REFIFair Value (-4.2%)

Margin of Safety

-4.2%

Fair Value

$11.42

Current Price

$12.05

$0.63 premium

UndervaluedFair: $11.42Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NLY6 strengths · Avg: 10.0/10
P/E RatioValuation
7.3x10/10

Attractively priced relative to earnings

Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Profit MarginProfitability
85.1%10/10

Keeps 85 of every $100 in revenue as profit

Operating MarginProfitability
93.7%10/10

Strong operational efficiency at 93.7%

Revenue GrowthGrowth
113.9%10/10

Revenue surging 113.9% year-over-year

EPS GrowthGrowth
81.1%10/10

Earnings expanding 81.1% YoY

REFI4 strengths · Avg: 10.0/10
P/E RatioValuation
7.3x10/10

Attractively priced relative to earnings

Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Profit MarginProfitability
65.9%10/10

Keeps 66 of every $100 in revenue as profit

Operating MarginProfitability
57.7%10/10

Strong operational efficiency at 57.7%

Areas to Watch

NLY4 concerns · Avg: 2.0/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
32.032/10

Expensive relative to growth rate

Altman Z-ScoreHealth
-0.562/10

Distress zone — elevated risk

Debt/EquityHealth
6.951/10

Elevated debt levels

REFI3 concerns · Avg: 3.0/10
Revenue GrowthGrowth
2.7%4/10

2.7% revenue growth

Market CapQuality
$260.13M3/10

Smaller company, higher risk/reward

EPS GrowthGrowth
-3.3%2/10

Earnings declined 3.3%

Comparative Analysis Report

WallStSmart Research

Bull Case : NLY

The strongest argument for NLY centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 85.1% and operating margin at 93.7%. Revenue growth of 113.9% demonstrates continued momentum.

Bull Case : REFI

The strongest argument for REFI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 65.9% and operating margin at 57.7%.

Bear Case : NLY

The primary concerns for NLY are Piotroski F-Score, PEG Ratio, Altman Z-Score. Debt-to-equity of 6.95 is elevated, increasing financial risk.

Bear Case : REFI

The primary concerns for REFI are Revenue Growth, Market Cap, EPS Growth.

Key Dynamics to Monitor

NLY profiles as a growth stock while REFI is a value play — different risk/reward profiles.

NLY carries more volatility with a beta of 1.30 — expect wider price swings.

NLY is growing revenue faster at 113.9% — sustainability is the question.

NLY generates stronger free cash flow (472M), providing more financial flexibility.

Bottom Line

NLY scores higher overall (75/100 vs 51/100), backed by strong 85.1% margins and 113.9% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Annaly Capital Management, Inc.

REAL ESTATE · REIT - MORTGAGE · USA

Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets. The company is headquartered in New York, New York.

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Chicago Atlantic Real Estate Finance Inc

REAL ESTATE · REIT - MORTGAGE · USA

Chicago Atlantic Real Estate Finance Inc. is a specialized Real Estate Investment Trust (REIT) focused on providing secured financing solutions primarily to the cannabis industry. By capitalizing on the growth of this rapidly expanding sector, the company strategically positions itself to enhance shareholder returns through a diversified portfolio. With a commitment to robust risk management and a seasoned management team equipped with deep industry insights, Chicago Atlantic aims to navigate the complexities of evolving regulatory landscapes while delivering attractive risk-adjusted returns to investors.

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