DYNEX CAPITAL INC (DX) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:DX - US26817Q8868 - REIT
14.03 USD
+0.15 (+1.08%)
14.04 USD
+0.01 (+0.07%)
Taking everything into account, DX scores 5 out of 10 in our fundamental rating. DX was compared to 69 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!
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.
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.
1.2 Ratios
DX has a Return On Assets of 1.24%. This is amongst the best in the industry. DX outperforms 85.51% of its industry peers.
DX has a better Return On Equity (8.96%) than 92.75% of its industry peers.
DX has a worse Return On Invested Capital (0.18%) than 72.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.24% | ||
| ROE | 8.96% | ||
| ROIC | 0.18% |
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
The Profit Margin of DX (39.43%) is better than 94.20% of its industry peers.
DX's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 7.21%, DX is doing worse than 60.87% of the companies in the same industry.
DX has a worse Gross Margin (17.47%) than 79.71% of its industry peers.
DX's Gross Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 7.21% | ||
| PM (TTM) | 39.43% | ||
| GM | 17.47% |
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
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.
The number of shares outstanding for DX has been increased compared to 5 years ago.
The debt/assets ratio for DX has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of -0.90, we must say that DX is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of DX (-0.90) is worse than 79.71% of its industry peers.
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.
DX has a Debt to FCF ratio of 96.76. This is in the better half of the industry: DX outperforms 63.77% of its industry peers.
A Debt/Equity ratio of 6.01 is on the high side and indicates that DX has dependencies on debt financing.
DX has a Debt to Equity ratio of 6.01. This is comparable to the rest of the industry: DX outperforms 43.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 6.01 | ||
| Debt/FCF | 96.76 | ||
| Altman-Z | -0.9 |
ROIC/WACC0.03
WACC5.68%
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 78.26% 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 78.26% of the companies in the same industry.
| 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 202.63%, which is quite impressive.
The earnings per share for DX have been decreasing by -18.72% on average. This is quite bad
The Revenue has grown by 47.97% in the past year. This is a very strong growth!
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)202.63%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%350%
Revenue 1Y (TTM)47.97%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%3324.05%
3.2 Future
The Earnings Per Share is expected to grow by 70.62% on average over the next years. This is a very strong growth
Based on estimates for the next years, DX will show a very strong growth in Revenue. The Revenue will grow by 159.76% on average per year.
EPS Next Y348.92%
EPS Next 2Y146.89%
EPS Next 3Y70.62%
EPS Next 5YN/A
Revenue Next Year741.85%
Revenue Next 2Y343.97%
Revenue Next 3Y159.76%
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
With a Price/Earnings ratio of 17.99, DX is valued on the expensive side.
The rest of the industry has a similar Price/Earnings ratio as DX.
DX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.49.
DX is valuated reasonably with a Price/Forward Earnings ratio of 8.16.
Based on the Price/Forward Earnings ratio, DX is valued a bit cheaper than 65.22% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of DX to the average of the S&P500 Index (23.69), we can say DX is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.99 | ||
| Fwd PE | 8.16 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, DX is valued cheaply inside the industry as 86.96% of the companies are valued more expensively.
The rest of the industry has a similar Price/Free Cash Flow ratio as DX.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.93 | ||
| EV/EBITDA | 46.45 |
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.
DX's earnings are expected to grow with 70.62% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.05
PEG (5Y)N/A
EPS Next 2Y146.89%
EPS Next 3Y70.62%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 14.70%, DX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 12.09, DX pays a better dividend. On top of this DX pays more dividend than 84.06% 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 2.31.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.7% |
5.2 History
The dividend of DX decreases each year by -11.72%.
DX has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-11.72%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DX pays out 115.43% of its income as dividend. This is not a sustainable payout ratio.
DP115.43%
EPS Next 2Y146.89%
EPS Next 3Y70.62%
14.03
+0.15 (+1.08%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners45.47%
Inst Owner Change-13.59%
Ins Owners0.75%
Ins Owner Change-0.84%
Market Cap2.06B
Revenue(TTM)444.98M
Net Income(TTM)175.44M
Analysts82.86
Price Target14.54 (3.64%)
Short Float %5.84%
Short Ratio1.71
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.7% |
Yearly Dividend1.67
Dividend Growth(5Y)-11.72%
DP115.43%
Div Incr Years0
Div Non Decr Years0
Ex-Date
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)-94.47%
Revenue beat(12)4
Avg Revenue beat(12)-52.53%
Revenue beat(16)5
Avg Revenue beat(16)-38.93%
PT rev (1m)-0.29%
PT rev (3m)3.01%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.22%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)50.58%
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.99 | ||
| Fwd PE | 8.16 | ||
| P/S | 4.63 | ||
| P/FCF | 16.93 | ||
| P/OCF | 16.93 | ||
| P/B | 1.05 | ||
| P/tB | 1.05 | ||
| EV/EBITDA | 46.45 |
EPS(TTM)0.78
EY5.56%
EPS(NY)1.72
Fwd EY12.26%
FCF(TTM)0.83
FCFY5.91%
OCF(TTM)0.83
OCFY5.91%
SpS3.03
BVpS13.33
TBVpS13.33
PEG (NY)0.05
PEG (5Y)N/A
Graham Number15.3
Profitability
| Industry Rank | Sector 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)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
ROICexgc growth 3YN/A
ROICexgc 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-Score4
Asset Turnover0.03
Health
| Industry Rank | Sector 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 | -0.9 |
F-Score4
WACC5.68%
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)202.63%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%350%
EPS Next Y348.92%
EPS Next 2Y146.89%
EPS Next 3Y70.62%
EPS Next 5YN/A
Revenue 1Y (TTM)47.97%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%3324.05%
Revenue Next Year741.85%
Revenue Next 2Y343.97%
Revenue Next 3Y159.76%
Revenue Next 5YN/A
EBIT growth 1Y178.59%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y60.71%
FCF growth 3Y-53.91%
FCF growth 5Y-39.34%
OCF growth 1Y60.71%
OCF growth 3Y-53.91%
OCF growth 5Y-39.34%
DYNEX CAPITAL INC / DX FAQ
What is the ChartMill fundamental rating of DYNEX CAPITAL INC (DX) stock?
ChartMill assigns a fundamental rating of 5 / 10 to DX.
What is the valuation status of DYNEX CAPITAL INC (DX) stock?
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.
How financially healthy is DYNEX CAPITAL INC?
The financial health rating of DYNEX CAPITAL INC (DX) is 2 / 10.
Can you provide the dividend sustainability for DX stock?
The dividend rating of DYNEX CAPITAL INC (DX) is 5 / 10 and the dividend payout ratio is 115.43%.