DYNEX CAPITAL INC (DX) Fundamental Analysis & Valuation

NYSE:DX • US26817Q8868

Current stock price

13.06 USD
-0.27 (-2.03%)
At close:
13.06 USD
0 (0%)
After Hours:

This DX fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. DX Profitability Analysis

1.1 Basic Checks

  • In the past year DX was profitable.
  • DX had a positive operating cash flow in the past year.
  • DX had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years DX had a positive operating cash flow.
DX Yearly Net Income VS EBIT VS OCF VS FCFDX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M 300M

1.2 Ratios

  • DX has a Return On Assets of 1.78%. This is amongst the best in the industry. DX outperforms 94.12% of its industry peers.
  • DX's Return On Equity of 12.54% is amongst the best of the industry. DX outperforms 98.53% of its industry peers.
  • DX's Return On Invested Capital of 0.30% is on the low side compared to the rest of the industry. DX is outperformed by 69.12% of its industry peers.
Industry RankSector Rank
ROA 1.78%
ROE 12.54%
ROIC 0.3%
ROA(3y)0.95%
ROA(5y)1.82%
ROE(3y)6.64%
ROE(5y)9.35%
ROIC(3y)N/A
ROIC(5y)N/A
DX Yearly ROA, ROE, ROICDX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20 -20

1.3 Margins

  • DX has a better Profit Margin (57.89%) than 98.53% of its industry peers.
  • DX's Profit Margin has declined in the last couple of years.
  • DX has a Operating Margin (11.49%) which is in line with its industry peers.
  • DX's Operating Margin has declined in the last couple of years.
  • The Gross Margin of DX (21.43%) is worse than 66.18% of its industry peers.
  • DX's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 11.49%
PM (TTM) 57.89%
GM 21.43%
OM growth 3Y-84.94%
OM growth 5Y-23.27%
PM growth 3YN/A
PM growth 5Y-18.98%
GM growth 3Y-77.72%
GM growth 5Y-20.2%
DX Yearly Profit, Operating, Gross MarginsDX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2K -2K -4K

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1

2. DX Health Analysis

2.1 Basic Checks

  • DX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • DX has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, DX has more shares outstanding
  • Compared to 1 year ago, DX has about the same debt to assets ratio.
DX Yearly Shares OutstandingDX Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
DX Yearly Total Debt VS Total AssetsDX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • DX has an Altman-Z score of -0.85. This is a bad value and indicates that DX is not financially healthy and even has some risk of bankruptcy.
  • DX has a Altman-Z score of -0.85. This is in the lower half of the industry: DX underperforms 79.41% of its industry peers.
  • The Debt to FCF ratio of DX is 115.15, which is on the high side as it means it would take DX, 115.15 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of DX (115.15) is better than 60.29% of its industry peers.
  • A Debt/Equity ratio of 5.65 is on the high side and indicates that DX has dependencies on debt financing.
  • With a Debt to Equity ratio value of 5.65, DX perfoms like the industry average, outperforming 51.47% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 5.65
Debt/FCF 115.15
Altman-Z -0.85
ROIC/WACC0.07
WACC4.49%
DX Yearly LT Debt VS Equity VS FCFDX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.3 Liquidity

  • A Current Ratio of 0.04 indicates that DX may have some problems paying its short term obligations.
  • DX has a worse Current ratio (0.04) than 83.82% of its industry peers.
  • DX has a Quick Ratio of 0.04. This is a bad value and indicates that DX is not financially healthy enough and could expect problems in meeting its short term obligations.
  • DX has a Quick ratio of 0.04. This is amonst the worse of the industry: DX underperforms 83.82% of its industry peers.
Industry RankSector Rank
Current Ratio 0.04
Quick Ratio 0.04
DX Yearly Current Assets VS Current LiabilitesDX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. DX Growth Analysis

3.1 Past

  • DX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 328.57%, which is quite impressive.
  • Measured over the past years, DX shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -13.04% on average per year.
  • The Revenue has grown by 67.76% in the past year. This is a very strong growth!
  • DX shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 40.77% yearly.
EPS 1Y (TTM)328.57%
EPS 3Y-4.72%
EPS 5Y-13.04%
EPS Q2Q%180%
Revenue 1Y (TTM)67.76%
Revenue growth 3YN/A
Revenue growth 5Y40.77%
Sales Q2Q%531.39%

3.2 Future

  • The Earnings Per Share is expected to grow by 17.23% on average over the next years. This is quite good.
  • DX is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 44.29% yearly.
EPS Next Y52%
EPS Next 2Y21.24%
EPS Next 3Y17.23%
EPS Next 5YN/A
Revenue Next Year134.14%
Revenue Next 2Y44.29%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
DX Yearly Revenue VS EstimatesDX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 100M 200M 300M 400M 500M
DX Yearly EPS VS EstimatesDX Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 1 2

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6

4. DX Valuation Analysis

4.1 Price/Earnings Ratio

  • DX is valuated correctly with a Price/Earnings ratio of 13.60.
  • DX's Price/Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Earnings ratio is at 25.70. DX is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 8.95, the valuation of DX can be described as reasonable.
  • 63.24% of the companies in the same industry are more expensive than DX, based on the Price/Forward Earnings ratio.
  • DX is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.84, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.6
Fwd PE 8.95
DX Price Earnings VS Forward Price EarningsDX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, DX is valued cheaply inside the industry as 80.88% of the companies are valued more expensively.
  • DX's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 26.18
EV/EBITDA 42.67
DX Per share dataDX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as DX's earnings are expected to grow with 17.23% in the coming years.
PEG (NY)0.26
PEG (5Y)N/A
EPS Next 2Y21.24%
EPS Next 3Y17.23%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. DX Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 15.30%, DX is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 11.50, DX pays a better dividend. On top of this DX pays more dividend than 92.65% of the companies listed in the same industry.
  • DX's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 15.3%

5.2 History

  • The dividend of DX decreases each year by -3.30%.
  • DX has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-3.3%
Div Incr Years0
Div Non Decr Years0
DX Yearly Dividends per shareDX Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 79.84% of the earnings are spent on dividend by DX. This is not a sustainable payout ratio.
DP79.84%
EPS Next 2Y21.24%
EPS Next 3Y17.23%
DX Yearly Income VS Free CF VS DividendDX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M 300M
DX Dividend Payout.DX Dividend Payout, showing the Payout Ratio.DX Dividend Payout.PayoutRetained Earnings

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DX Fundamentals: All Metrics, Ratios and Statistics

DYNEX CAPITAL INC

NYSE:DX (3/13/2026, 8:21:50 PM)

After market: 13.06 0 (0%)

13.06

-0.27 (-2.03%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)01-26
Earnings (Next)04-20
Inst Owners38.26%
Inst Owner Change11.31%
Ins Owners0.52%
Ins Owner Change9.54%
Market Cap2.64B
Revenue(TTM)533.52M
Net Income(TTM)308.88M
Analysts82.86
Price Target15.4 (17.92%)
Short Float %3.91%
Short Ratio1.49
Dividend
Industry RankSector Rank
Dividend Yield 15.3%
Yearly Dividend1.9
Dividend Growth(5Y)-3.3%
DP79.84%
Div Incr Years0
Div Non Decr Years0
Ex-Date02-23
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-16.83%
Min EPS beat(2)-22.06%
Max EPS beat(2)-11.6%
EPS beat(4)0
Avg EPS beat(4)-19.58%
Min EPS beat(4)-31.42%
Max EPS beat(4)-11.6%
EPS beat(8)2
Avg EPS beat(8)-60.2%
EPS beat(12)2
Avg EPS beat(12)-159.62%
EPS beat(16)2
Avg EPS beat(16)-127.6%
Revenue beat(2)0
Avg Revenue beat(2)-11.05%
Min Revenue beat(2)-20.48%
Max Revenue beat(2)-1.62%
Revenue beat(4)0
Avg Revenue beat(4)-12.21%
Min Revenue beat(4)-24.66%
Max Revenue beat(4)-1.62%
Revenue beat(8)1
Avg Revenue beat(8)-104.61%
Revenue beat(12)3
Avg Revenue beat(12)-73.44%
Revenue beat(16)5
Avg Revenue beat(16)-41.07%
PT rev (1m)0%
PT rev (3m)5.96%
EPS NQ rev (1m)-5.52%
EPS NQ rev (3m)-12.18%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 13.6
Fwd PE 8.95
P/S 5.93
P/FCF 26.18
P/OCF 26.18
P/B 1.28
P/tB 1.28
EV/EBITDA 42.67
EPS(TTM)0.96
EY7.35%
EPS(NY)1.46
Fwd EY11.17%
FCF(TTM)0.5
FCFY3.82%
OCF(TTM)0.5
OCFY3.82%
SpS2.2
BVpS10.17
TBVpS10.17
PEG (NY)0.26
PEG (5Y)N/A
Graham Number14.82
Profitability
Industry RankSector Rank
ROA 1.78%
ROE 12.54%
ROCE 2.46%
ROIC 0.3%
ROICexc 0.31%
ROICexgc 0.31%
OM 11.49%
PM (TTM) 57.89%
GM 21.43%
FCFM 22.65%
ROA(3y)0.95%
ROA(5y)1.82%
ROE(3y)6.64%
ROE(5y)9.35%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y-23.81%
ROICexc growth 3YN/A
ROICexc growth 5Y-23.73%
OM growth 3Y-84.94%
OM growth 5Y-23.27%
PM growth 3YN/A
PM growth 5Y-18.98%
GM growth 3Y-77.72%
GM growth 5Y-20.2%
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 5.65
Debt/FCF 115.15
Debt/EBITDA 219.42
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 0.17
Cash Conversion 190.55%
Profit Quality 39.12%
Current Ratio 0.04
Quick Ratio 0.04
Altman-Z -0.85
F-Score4
WACC4.49%
ROIC/WACC0.07
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)328.57%
EPS 3Y-4.72%
EPS 5Y-13.04%
EPS Q2Q%180%
EPS Next Y52%
EPS Next 2Y21.24%
EPS Next 3Y17.23%
EPS Next 5YN/A
Revenue 1Y (TTM)67.76%
Revenue growth 3YN/A
Revenue growth 5Y40.77%
Sales Q2Q%531.39%
Revenue Next Year134.14%
Revenue Next 2Y44.29%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y290.83%
EBIT growth 3YN/A
EBIT growth 5Y8.01%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y739.5%
FCF growth 3Y-1.48%
FCF growth 5Y-7.04%
OCF growth 1Y739.5%
OCF growth 3Y-1.48%
OCF growth 5Y-7.04%

DYNEX CAPITAL INC / DX Fundamental Analysis FAQ

What is the ChartMill fundamental rating of DYNEX CAPITAL INC (DX) stock?

ChartMill assigns a fundamental rating of 4 / 10 to DX.


Can you provide the valuation status for DYNEX CAPITAL INC?

ChartMill assigns a valuation rating of 6 / 10 to DYNEX CAPITAL INC (DX). This can be considered as Fairly Valued.


What is the profitability of DX stock?

DYNEX CAPITAL INC (DX) has a profitability rating of 4 / 10.


What are the PE and PB ratios of DYNEX CAPITAL INC (DX) stock?

The Price/Earnings (PE) ratio for DYNEX CAPITAL INC (DX) is 13.6 and the Price/Book (PB) ratio is 1.28.


What is the financial health of DYNEX CAPITAL INC (DX) stock?

The financial health rating of DYNEX CAPITAL INC (DX) is 1 / 10.