DYNEX CAPITAL INC (DX)
US26817Q8868 - REIT
DX gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 64 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. DX has a bad profitability rating. Also its financial health evaluation is rather negative. While showing a medium growth rate, DX is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
DX had negative earnings in the past year.
DX had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: DX reported negative net income in multiple years.
In the past 5 years DX always reported a positive cash flow from operatings.
1.2 Ratios
DX has a better Return On Assets (1.08%) than 64.06% of its industry peers.
The Return On Equity of DX (7.10%) is better than 67.19% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.08% | ||
| ROE | 7.1% | ||
| ROIC | N/A |
ROA(3y)2.01%
ROA(5y)1.63%
ROE(3y)8.41%
ROE(5y)4.42%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
The Profit Margin of DX (34.60%) is better than 95.31% of its industry peers.
DX does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 34.6% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
DX does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, DX has more shares outstanding
Compared to 5 years ago, DX has more shares outstanding
DX has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of -0.98, we must say that DX is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of DX (-0.98) is worse than 92.19% of its industry peers.
The Debt to FCF ratio of DX is 127.98, which is on the high side as it means it would take DX, 127.98 years of fcf income to pay off all of its debts.
DX has a Debt to FCF ratio of 127.98. This is comparable to the rest of the industry: DX outperforms 40.63% of its industry peers.
DX has a Debt/Equity ratio of 5.52. This is a high value indicating a heavy dependency on external financing.
DX has a worse Debt to Equity ratio (5.52) than 68.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.52 | ||
| Debt/FCF | 127.98 | ||
| Altman-Z | -0.98 |
ROIC/WACCN/A
WACC5.28%
2.3 Liquidity
DX has a Current Ratio of 0.06. 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 Current ratio, with a value of 0.06, DX is doing worse than 76.56% of the companies in the same industry.
DX has a Quick Ratio of 0.06. 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 0.06. This is in the lower half of the industry: DX underperforms 76.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.06 | ||
| Quick Ratio | 0.06 |
3. Growth
3.1 Past
DX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -487.50%.
DX shows a strong growth in Revenue. In the last year, the Revenue has grown by 466.46%.
Measured over the past years, DX shows a small growth in Revenue. The Revenue has been growing by 3.79% on average per year.
EPS 1Y (TTM)-487.5%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%55.56%
Revenue 1Y (TTM)466.46%
Revenue growth 3Y11.17%
Revenue growth 5Y3.79%
Sales Q2Q%144.03%
3.2 Future
Based on estimates for the next years, DX will show a very strong growth in Earnings Per Share. The EPS will grow by 43.13% on average per year.
Based on estimates for the next years, DX will show a very strong growth in Revenue. The Revenue will grow by 124.24% on average per year.
EPS Next Y13.81%
EPS Next 2Y46.69%
EPS Next 3Y43.13%
EPS Next 5YN/A
Revenue Next Year-19.13%
Revenue Next 2Y115.68%
Revenue Next 3Y124.24%
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for DX. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 84.67, the valuation of DX can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DX indicates a rather expensive valuation: DX more expensive than 96.88% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.59, DX is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 84.67 |
4.2 Price Multiples
DX's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 22.06 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates DX does not grow enough to justify the current Price/Earnings ratio.
A more expensive valuation may be justified as DX's earnings are expected to grow with 43.13% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y46.69%
EPS Next 3Y43.13%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 12.70%, DX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 12.46, DX has a dividend in line with its industry peers.
DX's Dividend Yield is rather good when compared to the S&P500 average which is at 2.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.7% |
5.2 History
The dividend of DX decreases each year by -8.86%.
DX has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of DX decreased in the last 3 years.
Dividend Growth(5Y)-8.86%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
DX pays out 139.68% of its income as dividend. This is not a sustainable payout ratio.
DP139.68%
EPS Next 2Y46.69%
EPS Next 3Y43.13%
DYNEX CAPITAL INC
NYSE:DX (7/26/2024, 7:26:04 PM)
After market: 12.21 0 (0%)12.21
+0.13 (+1.08%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap912.21M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.7% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 84.67 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.08% | ||
| ROE | 7.1% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 34.6% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.52 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.06 | ||
| Quick Ratio | 0.06 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-487.5%
EPS 3YN/A
EPS 5Y
EPS Q2Q%
EPS Next Y13.81%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)466.46%
Revenue growth 3Y11.17%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y