DYNEX CAPITAL INC (DX) Stock Fundamental Analysis
USA - NYSE:DX - US26817Q8868 - REIT
12.98 USD
+0.02 (+0.15%)
12.89 USD
-0.09 (-0.69%)
Taking everything into account, DX scores 4 out of 10 in our fundamental rating. DX was compared to 67 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. There are concerns on the financial health of DX while its profitability can be described as average. DX is not overvalued while it is showing excellent growth. This is an interesting combination.
1. Profitability
1.1 Basic Checks
In the past year DX was profitable.
In the past year DX had a positive cash flow from operations.
Of the past 5 years DX 4 years were profitable.
Each year in the past 5 years DX had a positive operating cash flow.
1.2 Ratios
DX has a Return On Assets of 0.50%. This is in the better half of the industry: DX outperforms 70.15% of its industry peers.
DX's Return On Equity of 3.54% is fine compared to the rest of the industry. DX outperforms 65.67% of its industry peers.
Looking at the Return On Invested Capital, with a value of 0.04%, DX is doing worse than 68.66% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.5% | ||
| ROE | 3.54% | ||
| ROIC | 0.04% |
ROA(3y)1.61%
ROA(5y)2.5%
ROE(3y)7.47%
ROE(5y)11.89%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
Looking at the Profit Margin, with a value of 15.04%, DX belongs to the top of the industry, outperforming 83.58% of the companies in the same industry.
In the last couple of years the Profit Margin of DX has declined.
DX has a Operating Margin of 1.50%. This is in the lower half of the industry: DX underperforms 68.66% of its industry peers.
DX has a Gross Margin of 12.68%. This is in the lower half of the industry: DX underperforms 70.15% of its industry peers.
DX's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 1.5% | ||
| PM (TTM) | 15.04% | ||
| GM | 12.68% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-37.42%
PM growth 5YN/A
GM growth 3Y-75.33%
GM growth 5Y-47.03%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so DX is destroying value.
The number of shares outstanding for DX has been increased compared to 1 year ago.
DX has more shares outstanding than it did 5 years ago.
DX has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of -0.92, we must say that DX is in the distress zone and has some risk of bankruptcy.
DX has a Altman-Z score of -0.92. This is amonst the worse of the industry: DX underperforms 80.60% of its industry peers.
DX has a debt to FCF ratio of 168.78. This is a negative value and a sign of low solvency as DX would need 168.78 years to pay back of all of its debts.
The Debt to FCF ratio of DX (168.78) is comparable to the rest of the industry.
A Debt/Equity ratio of 5.36 is on the high side and indicates that DX has dependencies on debt financing.
With a Debt to Equity ratio value of 5.36, DX perfoms like the industry average, outperforming 46.27% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.36 | ||
| Debt/FCF | 168.78 | ||
| Altman-Z | -0.92 |
ROIC/WACC0.01
WACC5.7%
2.3 Liquidity
DX has a Current 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.
DX has a worse Current ratio (0.05) than 85.07% 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.
With a Quick ratio value of 0.05, DX is not doing good in the industry: 85.07% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 |
3. Growth
3.1 Past
DX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 145.74%, 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 -18.72% yearly.
Looking at the last year, DX shows a very strong growth in Revenue. The Revenue has grown by 35.01%.
Measured over the past years, DX shows a quite strong growth in Revenue. The Revenue has been growing by 13.32% on average per year.
EPS 1Y (TTM)145.74%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%283.33%
Revenue 1Y (TTM)35.01%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%1697.05%
3.2 Future
DX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 73.39% yearly.
The Revenue is expected to grow by 149.36% on average over the next years. This is a very strong growth
EPS Next Y370.99%
EPS Next 2Y141.97%
EPS Next 3Y73.39%
EPS Next 5YN/A
Revenue Next Year748.76%
Revenue Next 2Y288.89%
Revenue Next 3Y149.36%
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.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 30.19 indicates a quite expensive valuation of DX.
The rest of the industry has a similar Price/Earnings ratio as DX.
When comparing the Price/Earnings ratio of DX to the average of the S&P500 Index (27.02), we can say DX is valued inline with the index average.
The Price/Forward Earnings ratio is 8.02, which indicates a very decent valuation of DX.
Based on the Price/Forward Earnings ratio, DX is valued a bit cheaper than 64.18% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.57, DX is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.19 | ||
| Fwd PE | 8.02 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, DX is valued a bit cheaper than the industry average as 73.13% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, DX is valued a bit more expensive than 62.69% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.82 | ||
| EV/EBITDA | 165.94 |
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 73.39% in the coming years.
PEG (NY)0.08
PEG (5Y)N/A
EPS Next 2Y141.97%
EPS Next 3Y73.39%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 16.11%, DX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 11.68, DX pays a better dividend. On top of this DX pays more dividend than 94.03% 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 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 16.11% |
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
5.3 Sustainability
288.22% of the earnings are spent on dividend by DX. This is not a sustainable payout ratio.
DP288.22%
EPS Next 2Y141.97%
EPS Next 3Y73.39%
12.98
+0.02 (+0.15%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners44.88%
Inst Owner Change0%
Ins Owners0.87%
Ins Owner Change4.48%
Market Cap1.63B
Analysts84
Price Target14.2 (9.4%)
Short Float %6.83%
Short Ratio1.85
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 16.11% |
Yearly Dividend1.67
Dividend Growth(5Y)-11.72%
DP288.22%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-22.33%
Min EPS beat(2)-31.42%
Max EPS beat(2)-13.24%
EPS beat(4)1
Avg EPS beat(4)-62.16%
Min EPS beat(4)-246.74%
Max EPS beat(4)42.78%
EPS beat(8)2
Avg EPS beat(8)-77.17%
EPS beat(12)2
Avg EPS beat(12)-166.27%
EPS beat(16)3
Avg EPS beat(16)-125.15%
Revenue beat(2)0
Avg Revenue beat(2)-13.38%
Min Revenue beat(2)-24.66%
Max Revenue beat(2)-2.1%
Revenue beat(4)0
Avg Revenue beat(4)-40.51%
Min Revenue beat(4)-83.68%
Max Revenue beat(4)-2.1%
Revenue beat(8)3
Avg Revenue beat(8)-83.91%
Revenue beat(12)5
Avg Revenue beat(12)-50.42%
Revenue beat(16)6
Avg Revenue beat(16)-38.31%
PT rev (1m)0.6%
PT rev (3m)3.73%
EPS NQ rev (1m)5.32%
EPS NQ rev (3m)6.77%
EPS NY rev (1m)-6.22%
EPS NY rev (3m)0.61%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)23.83%
Revenue NY rev (1m)8.2%
Revenue NY rev (3m)18.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.19 | ||
| Fwd PE | 8.02 | ||
| P/S | 4.3 | ||
| P/FCF | 31.82 | ||
| P/OCF | 31.82 | ||
| P/B | 1.01 | ||
| P/tB | 1.01 | ||
| EV/EBITDA | 165.94 |
EPS(TTM)0.43
EY3.31%
EPS(NY)1.62
Fwd EY12.47%
FCF(TTM)0.41
FCFY3.14%
OCF(TTM)0.41
OCFY3.14%
SpS3.02
BVpS12.84
TBVpS12.84
PEG (NY)0.08
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.5% | ||
| ROE | 3.54% | ||
| ROCE | 0.34% | ||
| ROIC | 0.04% | ||
| ROICexc | 0.05% | ||
| ROICexgc | 0.05% | ||
| OM | 1.5% | ||
| PM (TTM) | 15.04% | ||
| GM | 12.68% | ||
| FCFM | 13.5% |
ROA(3y)1.61%
ROA(5y)2.5%
ROE(3y)7.47%
ROE(5y)11.89%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-37.42%
PM growth 5YN/A
GM growth 3Y-75.33%
GM growth 5Y-47.03%
F-Score5
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.36 | ||
| Debt/FCF | 168.78 | ||
| Debt/EBITDA | 1130.7 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 0.02 | ||
| Cash Conversion | 669.93% | ||
| Profit Quality | 89.78% | ||
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 | ||
| Altman-Z | -0.92 |
F-Score5
WACC5.7%
ROIC/WACC0.01
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)145.74%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%283.33%
EPS Next Y370.99%
EPS Next 2Y141.97%
EPS Next 3Y73.39%
EPS Next 5YN/A
Revenue 1Y (TTM)35.01%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%1697.05%
Revenue Next Year748.76%
Revenue Next 2Y288.89%
Revenue Next 3Y149.36%
Revenue Next 5YN/A
EBIT growth 1Y112.92%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-43.71%
FCF growth 3Y-53.91%
FCF growth 5Y-39.34%
OCF growth 1Y-43.71%
OCF growth 3Y-53.91%
OCF growth 5Y-39.34%