DYNEX CAPITAL INC (DX) Fundamental Analysis & Valuation

NYSE:DX • US26817Q8868

Current stock price

12.39 USD
-0.58 (-4.47%)
At close:
12.54 USD
+0.15 (+1.21%)
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

  • 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.
  • In the past 5 years DX always reported a positive cash flow from operatings.
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

  • With an excellent Return On Assets value of 1.78%, DX belongs to the best of the industry, outperforming 94.12% of the companies in the same industry.
  • DX has a Return On Equity of 12.54%. This is amongst the best in the industry. DX outperforms 98.53% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 0.30%, DX is doing worse than 76.47% of the companies in the same industry.
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 Profit Margin of 57.89%. This is amongst the best in the industry. DX outperforms 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 comparable to the rest of the industry.
  • DX's Operating Margin has declined in the last couple of years.
  • The Gross Margin of DX (21.43%) is worse than 73.53% 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.
  • Compared to 1 year ago, DX has more shares outstanding
  • The number of shares outstanding for DX has been increased compared to 5 years ago.
  • DX has about the same debt/assets ratio as last year.
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 -0.87, we must say that DX is in the distress zone and has some risk of bankruptcy.
  • DX has a Altman-Z score of -0.87. This is in the lower half of the industry: DX underperforms 79.41% of its industry peers.
  • DX has a debt to FCF ratio of 115.15. This is a negative value and a sign of low solvency as DX would need 115.15 years to pay back of all of its debts.
  • The Debt to FCF ratio of DX (115.15) is comparable to the rest of the industry.
  • DX has a Debt/Equity ratio of 5.65. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of DX (5.65) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 5.65
Debt/FCF 115.15
Altman-Z -0.87
ROIC/WACC0.07
WACC4.47%
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

  • DX has a Current 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 Current ratio of 0.04. This is amonst the worse of the industry: DX underperforms 83.82% of its industry peers.
  • A Quick Ratio of 0.04 indicates that DX may have some problems paying 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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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.
  • The earnings per share for DX have been decreasing by -13.04% on average. This is quite bad
  • Looking at the last year, DX shows a very strong growth in Revenue. The Revenue has grown by 67.76%.
  • 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

  • The Earnings Per Share is expected to grow by 17.23% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 44.29% on average over the next years. This is a very strong growth
EPS Next Y56.91%
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.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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

  • A Price/Earnings ratio of 12.91 indicates a correct valuation of DX.
  • Compared to the rest of the industry, the Price/Earnings ratio of DX indicates a somewhat cheap valuation: DX is cheaper than 60.29% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of DX to the average of the S&P500 Index (25.23), we can say DX is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 8.23, the valuation of DX can be described as very reasonable.
  • 67.65% of the companies in the same industry are more expensive than DX, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.28, DX is valued rather cheaply.
Industry RankSector Rank
PE 12.91
Fwd PE 8.23
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

  • 91.18% of the companies in the same industry are more expensive than DX, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of DX is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 20.71
EV/EBITDA 33.07
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.
  • DX's earnings are expected to grow with 17.23% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.23
PEG (5Y)N/A
EPS Next 2Y21.24%
EPS Next 3Y17.23%

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5

5. DX Dividend Analysis

5.1 Amount

  • DX has a Yearly Dividend Yield of 15.30%, which is a nice return.
  • DX's Dividend Yield is rather good when compared to the industry average which is at 11.19. DX pays more dividend than 94.12% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, DX pays a better dividend.
Industry RankSector Rank
Dividend Yield 15.3%

5.2 History

  • The dividend of DX decreases each year by -3.30%.
  • DX has paid a dividend for at least 10 years, which is 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

  • DX pays out 79.84% of its income as dividend. 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 (3/20/2026, 8:04:00 PM)

After market: 12.54 +0.15 (+1.21%)

12.39

-0.58 (-4.47%)

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 Cap2.50B
Revenue(TTM)533.52M
Net Income(TTM)308.88M
Analysts82.86
Price Target15.4 (24.29%)
Short Float %5.14%
Short Ratio1.56
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)3.24%
EPS NY rev (3m)-12.43%
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 12.91
Fwd PE 8.23
P/S 4.69
P/FCF 20.71
P/OCF 20.71
P/B 1.02
P/tB 1.02
EV/EBITDA 33.07
EPS(TTM)0.96
EY7.75%
EPS(NY)1.51
Fwd EY12.16%
FCF(TTM)0.6
FCFY4.83%
OCF(TTM)0.6
OCFY4.83%
SpS2.64
BVpS12.19
TBVpS12.19
PEG (NY)0.23
PEG (5Y)N/A
Graham Number16.23
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 -0.87
F-Score4
WACC4.47%
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 Y56.91%
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 12.91 and the Price/Book (PB) ratio is 1.02.


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

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