• Annaly Capital Management Inc average gross margin for 2023 was -103.8%, a 227.47% decline from 2022.
• Annaly Capital Management Inc average gross margin for 2022 was 81.43%, a 10.66% decline from 2021.
• Annaly Capital Management Inc average gross margin for 2021 was 91.15%, a 95.58% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.