DYNEX CAPITAL INC (DX) Stock Fundamental Analysis

NYSE:DX • US26817Q8868

13.97 USD
-0.08 (-0.57%)
At close: Feb 17, 2026
13.9994 USD
+0.03 (+0.21%)
After Hours: 2/17/2026, 8:10:39 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to DX. DX was compared to 70 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. While DX is still in line with the averages on profitability rating, there are concerns on its financial health. DX is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • DX had positive earnings in the past year.
  • In the past year DX had a positive cash flow from operations.
  • Of the past 5 years DX 4 years were profitable.
  • DX had a positive operating cash flow in 4 of the past 5 years.
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

  • Looking at the Return On Assets, with a value of 1.24%, DX belongs to the top of the industry, outperforming 88.57% of the companies in the same industry.
  • DX has a Return On Equity of 8.96%. This is amongst the best in the industry. DX outperforms 92.86% of its industry peers.
  • DX has a worse Return On Invested Capital (0.18%) than 71.43% of its industry peers.
Industry RankSector Rank
ROA 1.24%
ROE 8.96%
ROIC 0.18%
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

  • Looking at the Profit Margin, with a value of 39.43%, DX belongs to the top of the industry, outperforming 94.29% of the companies in the same industry.
  • In the last couple of years the Profit Margin of DX has declined.
  • Looking at the Operating Margin, with a value of 7.21%, DX is in line with its industry, outperforming 42.86% of the companies in the same industry.
  • DX's Operating Margin has declined in the last couple of years.
  • With a Gross Margin value of 17.47%, DX is not doing good in the industry: 78.57% of the companies in the same industry are doing better.
  • In the last couple of years the Gross Margin of DX has declined.
Industry RankSector Rank
OM 7.21%
PM (TTM) 39.43%
GM 17.47%
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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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so DX is destroying value.
  • Compared to 1 year ago, DX has more shares outstanding
  • Compared to 5 years ago, DX has more shares outstanding
  • The debt/assets ratio for DX has remained at the same level compared to a year ago.
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

  • Based on the Altman-Z score of -0.83, we must say that DX is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of -0.83, DX is not doing good in the industry: 78.57% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of DX is 96.76, which is on the high side as it means it would take DX, 96.76 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 96.76, DX is in the better half of the industry, outperforming 65.71% of the companies in the same industry.
  • DX has a Debt/Equity ratio of 6.01. This is a high value indicating a heavy dependency on external financing.
  • DX's Debt to Equity ratio of 6.01 is in line compared to the rest of the industry. DX outperforms 45.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 6.01
Debt/FCF 96.76
Altman-Z -0.83
ROIC/WACC0.03
WACC5.84%
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 0.05 indicates that DX may have some problems paying its short term obligations.
  • The Current ratio of DX (0.05) is worse than 78.57% of its industry peers.
  • DX has a Quick Ratio of 0.05. This is a bad value and indicates that DX is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 0.05, DX is doing worse than 78.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.05
Quick Ratio 0.05
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. Growth

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.
  • DX shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -13.04% yearly.
  • The Revenue has grown by 67.76% in the past year. This is a very strong growth!
  • The Revenue has been growing by 40.77% on average over the past years. This is a very strong growth!
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

  • DX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 17.23% yearly.
  • 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

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • 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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5

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 14.55 indicates a correct valuation of DX.
  • DX's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.16, DX is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 9.57 indicates a reasonable valuation of DX.
  • The rest of the industry has a similar Price/Forward Earnings ratio as DX.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.10, DX is valued rather cheaply.
Industry RankSector Rank
PE 14.55
Fwd PE 9.57
DX Price Earnings VS Forward Price EarningsDX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, DX is valued a bit cheaper than the industry average as 78.57% 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 27.81
EV/EBITDA 85.75
DX Per share dataDX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

  • DX's 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)0.28
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. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 14.47%, DX is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 10.41, DX pays a better dividend. On top of this DX pays more dividend than 90.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, DX pays a better dividend.
Industry RankSector Rank
Dividend Yield 14.47%

5.2 History

  • The dividend of DX decreases each year by -11.72%.
  • DX has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-11.72%
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

  • DX pays out 115.43% of its income as dividend. This is not a sustainable payout ratio.
DP115.43%
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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DYNEX CAPITAL INC

NYSE:DX (2/17/2026, 8:10:39 PM)

After market: 13.9994 +0.03 (+0.21%)

13.97

-0.08 (-0.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)01-26
Earnings (Next)04-20
Inst Owners46.56%
Inst Owner Change3.11%
Ins Owners0.75%
Ins Owner Change-0.84%
Market Cap3.38B
Revenue(TTM)533.52M
Net Income(TTM)175.44M
Analysts82.86
Price Target15.4 (10.24%)
Short Float %3.29%
Short Ratio1.35
Dividend
Industry RankSector Rank
Dividend Yield 14.47%
Yearly Dividend1.67
Dividend Growth(5Y)-11.72%
DP115.43%
Div Incr Years0
Div Non Decr Years0
Ex-Date01-21
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-26.74%
Min EPS beat(2)-31.42%
Max EPS beat(2)-22.06%
EPS beat(4)1
Avg EPS beat(4)-5.99%
Min EPS beat(4)-31.42%
Max EPS beat(4)42.78%
EPS beat(8)2
Avg EPS beat(8)-60.82%
EPS beat(12)2
Avg EPS beat(12)-165.76%
EPS beat(16)2
Avg EPS beat(16)-127.07%
Revenue beat(2)0
Avg Revenue beat(2)-1.86%
Min Revenue beat(2)-2.1%
Max Revenue beat(2)-1.62%
Revenue beat(4)0
Avg Revenue beat(4)-20%
Min Revenue beat(4)-51.61%
Max Revenue beat(4)-1.62%
Revenue beat(8)2
Avg Revenue beat(8)-96.68%
Revenue beat(12)4
Avg Revenue beat(12)-54%
Revenue beat(16)5
Avg Revenue beat(16)-40.03%
PT rev (1m)5.23%
PT rev (3m)5.66%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-11.51%
EPS NY rev (1m)-0.41%
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 14.55
Fwd PE 9.57
P/S 7.6
P/FCF 27.81
P/OCF 27.81
P/B 1.73
P/tB 1.73
EV/EBITDA 85.75
EPS(TTM)0.96
EY6.87%
EPS(NY)1.46
Fwd EY10.45%
FCF(TTM)0.5
FCFY3.6%
OCF(TTM)0.5
OCFY3.6%
SpS1.84
BVpS8.08
TBVpS8.08
PEG (NY)0.28
PEG (5Y)N/A
Graham Number13.21
Profitability
Industry RankSector Rank
ROA 1.24%
ROE 8.96%
ROCE 1.61%
ROIC 0.18%
ROICexc 0.19%
ROICexgc 0.19%
OM 7.21%
PM (TTM) 39.43%
GM 17.47%
FCFM 27.34%
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 6.01
Debt/FCF 96.76
Debt/EBITDA 344.52
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 0.11
Cash Conversion 356.05%
Profit Quality 69.35%
Current Ratio 0.05
Quick Ratio 0.05
Altman-Z -0.83
F-Score4
WACC5.84%
ROIC/WACC0.03
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 1Y178.59%
EBIT growth 3YN/A
EBIT growth 5Y8.01%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y668.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y668.97%
OCF growth 3YN/A
OCF growth 5YN/A

DYNEX CAPITAL INC / DX 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 5 / 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 14.55 and the Price/Book (PB) ratio is 1.73.


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

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