DYNEX CAPITAL INC (DX)
US26817Q8868 - REIT
We assign a fundamental rating of 3 out of 10 to DX. DX was compared to 64 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. DX may be in some trouble as it scores bad on both profitability and health. DX has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
DX had negative earnings in the past year.
In the past year DX had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: DX reported negative net income in multiple years.
DX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of DX (0.08%) is worse than 65.63% of its industry peers.
DX's Return On Equity of 0.51% is on the low side compared to the rest of the industry. DX is outperformed by 64.06% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.08% | ||
| ROE | 0.51% | ||
| 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
With a Profit Margin value of 1.92%, DX is not doing good in the industry: 64.06% of the companies in the same industry are doing better.
The Operating Margin and Gross Margin are not available for DX so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 1.92% | ||
| 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.
The number of shares outstanding for DX has been increased compared to 1 year ago.
Compared to 5 years ago, DX has more shares outstanding
Compared to 1 year ago, DX has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of -0.93, we must say that DX is in the distress zone and has some risk of bankruptcy.
DX's Altman-Z score of -0.93 is on the low side compared to the rest of the industry. DX is outperformed by 81.25% of its industry peers.
DX has a debt to FCF ratio of 193.62. This is a negative value and a sign of low solvency as DX would need 193.62 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 193.62, DX is doing worse than 64.06% of the companies in the same industry.
A Debt/Equity ratio of 5.28 is on the high side and indicates that DX has dependencies on debt financing.
DX has a Debt to Equity ratio of 5.28. This is in the lower half of the industry: DX underperforms 68.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.28 | ||
| Debt/FCF | 193.62 | ||
| Altman-Z | -0.93 |
ROIC/WACCN/A
WACC4.99%
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.
With a Current ratio value of 0.06, DX is not doing good in the industry: 76.56% of the companies in the same industry are doing better.
A Quick Ratio of 0.06 indicates that DX may have some problems paying its short term obligations.
The Quick ratio of DX (0.06) is worse than 76.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.06 | ||
| Quick Ratio | 0.06 |
3. Growth
3.1 Past
The earnings per share for DX have decreased strongly by -487.50% in the last year.
The Revenue has grown by 466.46% in the past year. This is a very strong growth!
The Revenue has been growing slightly by 3.79% on average over the past years.
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%143.92%
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 49.30% 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 154.64% on average per year.
EPS Next Y65.31%
EPS Next 2Y73.84%
EPS Next 3Y49.3%
EPS Next 5YN/A
Revenue Next Year270.47%
Revenue Next 2Y227.65%
Revenue Next 3Y154.64%
Revenue Next 5YN/A
3.3 Evolution
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
The Price/Earnings Ratio is negative for DX. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 13.13, the valuation of DX can be described as correct.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DX is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of DX to the average of the S&P500 Index (21.99), we can say DX is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 13.13 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as DX.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 33.45 | ||
| EV/EBITDA | N/A |
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 49.30% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y73.84%
EPS Next 3Y49.3%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 12.43%, DX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 12.14, DX pays a bit more dividend than its industry peers.
DX's Dividend Yield is rather good when compared to the S&P500 average which is at 2.26.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.43% |
5.2 History
The dividend of DX decreases each year by -8.86%.
DX has been paying a dividend for at least 10 years, so it has a reliable track record.
DX has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-8.86%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
1840.71% of the earnings are spent on dividend by DX. This is not a sustainable payout ratio.
DP1840.71%
EPS Next 2Y73.84%
EPS Next 3Y49.3%
DYNEX CAPITAL INC
NYSE:DX (9/13/2024, 8:10:21 PM)
After market: 12.75 0 (0%)12.75
+0.2 (+1.59%)
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 Cap952.55M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.43% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
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Revenue beat(2)
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Revenue beat(8)
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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 | 13.13 | ||
| 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 | 0.08% | ||
| ROE | 0.51% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 1.92% | ||
| 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 Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.28 | ||
| 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 Y65.31%
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