WallStSmart

Blackstone Mortgage Trust Inc (BXMT)vsAnnaly Capital Management, Inc. (NLY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Annaly Capital Management, Inc. generates 436% more annual revenue ($2.50B vs $466.96M). NLY leads profitability with a 87.4% profit margin vs 22.2%. NLY appears more attractively valued with a PEG of 32.03. NLY earns a higher WallStSmart Score of 77/100 (B+).

BXMT

Buy

56

out of 100

Grade: C

Growth: 6.7Profit: 4.5Value: 5.3Quality: 4.5
Piotroski: 5/9Altman Z: 0.81

NLY

Strong Buy

77

out of 100

Grade: B+

Growth: 9.3Profit: 8.0Value: 5.3Quality: 2.5
Piotroski: 3/9Altman Z: -0.56
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BXMTUndervalued (+74.7%)

Margin of Safety

+74.7%

Fair Value

$79.16

Current Price

$19.13

$60.03 discount

UndervaluedFair: $79.16Overvalued
NLYOvervalued (-13.9%)

Margin of Safety

-13.9%

Fair Value

$20.02

Current Price

$22.61

$2.59 premium

UndervaluedFair: $20.02Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BXMT3 strengths · Avg: 9.7/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Revenue GrowthGrowth
34.9%10/10

Revenue surging 34.9% year-over-year

Profit MarginProfitability
22.2%9/10

Keeps 22 of every $100 in revenue as profit

NLY6 strengths · Avg: 10.0/10
P/E RatioValuation
7.2x10/10

Attractively priced relative to earnings

Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Profit MarginProfitability
87.4%10/10

Keeps 87 of every $100 in revenue as profit

Operating MarginProfitability
81.0%10/10

Strong operational efficiency at 81.0%

Revenue GrowthGrowth
48.8%10/10

Revenue surging 48.8% year-over-year

EPS GrowthGrowth
122.5%10/10

Earnings expanding 122.5% YoY

Areas to Watch

BXMT4 concerns · Avg: 2.8/10
P/E RatioValuation
31.9x4/10

Premium valuation, high expectations priced in

Return on EquityProfitability
2.9%3/10

ROE of 2.9% — below average capital efficiency

PEG RatioValuation
254.802/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.812/10

Distress zone — elevated risk

NLY4 concerns · Avg: 2.3/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
32.032/10

Expensive relative to growth rate

Free Cash FlowQuality
$-1.90B2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
-0.562/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : BXMT

The strongest argument for BXMT centers on Price/Book, Revenue Growth, Profit Margin. Profitability is solid with margins at 22.2% and operating margin at -6.1%. Revenue growth of 34.9% demonstrates continued momentum.

Bull Case : NLY

The strongest argument for NLY centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 87.4% and operating margin at 81.0%. Revenue growth of 48.8% demonstrates continued momentum.

Bear Case : BXMT

The primary concerns for BXMT are P/E Ratio, Return on Equity, PEG Ratio.

Bear Case : NLY

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

Key Dynamics to Monitor

NLY carries more volatility with a beta of 1.27 — expect wider price swings.

NLY is growing revenue faster at 48.8% — sustainability is the question.

BXMT generates stronger free cash flow (159M), providing more financial flexibility.

Monitor REIT - MORTGAGE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

NLY scores higher overall (77/100 vs 56/100), backed by strong 87.4% margins and 48.8% revenue growth. BXMT offers better value entry with a 74.7% margin of safety. 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.

Blackstone Mortgage Trust Inc

REAL ESTATE · REIT - MORTGAGE · USA

Blackstone Mortgage Trust, Inc., a real estate financing company, originates senior secured commercial property loans in North America, Europe and Australia. The company is headquartered in New York, New York.

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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