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Dynex Capital, Inc.

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Key Metrics

Previous Close: $13.33
52-Week Range: $11.83 – $14.93
Market Cap: $3.29B
P/E (TTM): 4.23
EPS (TTM): 3.13
Dividend Yield: 15.30%

Advanced Metrics

Price/Book: 1.03
PEG Ratio: 0.71
Return on Equity: 18.23%
Return on Assets: 2.31%
Gross Margin: 100.00%
Operating Margin: 91.77%
Profit Margin: 86.84%
Current Ratio: 0.06
Debt/Equity: 7.13
Total Debt: $22.65B
Free Cash Flow: —
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $25.44B

DX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$177.00M	$26.75M	$150.40M	$372.11M
Selling, General & Admin	$32.35M	$30.73M	$34.59M	$51.51M
Pretax Income	$143.16M	-$6.13M	$113.90M	$319.07M
Net Income	$143.16M	-$6.13M	$113.90M	$319.07M
Diluted EPS	3.17	-0.25	1.49	2.47
Diluted Shares	42.74M	54.81M	71.26M	125.07M

DX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$332.04M	$119.64M	$377.10M	$531.04M
Receivables	$25.61M	$30.04M	$43.29M	$85.36M
Total Assets	$3.61B	$6.37B	$8.18B	$17.34B
Total Liabilities	$2.70B	$5.50B	$7.00B	$14.88B
Retained Earnings	-$383.22M	-$483.61M	-$493.73M	-$441.94M
Shareholders' Equity	$901.33M	$870.74M	$1.18B	$2.46B

DX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$126.35M	$62.20M	$14.39M	$120.82M
Free Cash Flow	$126.35M	$62.20M	$14.39M	$120.82M
Depreciation & Amortisation	$2.35M	$2.31M	$1.87M	$2.10M
Stock-Based Compensation	$4.42M	$4.83M	$7.24M	$12.56M
Investing Cash Flow	-$65.44M	-$2.96B	-$1.03B	-$8.07B
Financing Cash Flow	-$32.34M	$2.69B	$1.40B	$8.26B
Dividends Paid	-$72.37M	-$93.04M	-$117.84M	-$246.60M
Share Repurchases	$0.00	$0.00	—	—
Net Change in Cash	$28.57M	-$212.01M	$383.68M	$308.85M

DX Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	-$1.31M	$162.39M	$202.00M	-$59.11M	$197.01M
Selling, General & Admin	$11.91M	$11.46M	$16.37M	$20.48M	$15.21M
Pretax Income	-$13.61M	$150.39M	$185.36M	-$80.36M	$180.79M
Net Income	-$13.61M	$150.39M	$185.36M	-$80.36M	$180.79M
Diluted EPS	-0.14	1.08	1.16	-0.41	0.80
Diluted Shares	113.18M	136.93M	157.21M	200.08M	223.60M

DX Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$387.52M	$490.99M	$531.04M	$773.14M	$607.56M
Receivables	$55.66M	$81.19M	$85.36M	$100.89M	$157.72M
Total Assets	$11.31B	$14.16B	$17.34B	$24.34B	$26.42B
Total Liabilities	$9.70B	$12.20B	$14.88B	$21.62B	$23.24B
Retained Earnings	-$618.21M	-$541.97M	-$441.94M	-$629.57M	-$567.20M
Shareholders' Equity	$1.61B	$1.96B	$2.46B	$2.72B	$3.18B

DX Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$31.88M	$68.28M	$14.30M	$69.85M	$84.15M
Free Cash Flow	$31.88M	$68.28M	$14.30M	$69.85M	$84.15M
Depreciation & Amortisation	$516.00K	$544.00K	$542.00K	$545.00K	$602.00K
Stock-Based Compensation	$3.49M	$2.80M	$4.25M	$7.67M	$2.83M
Investing Cash Flow	-$1.51B	-$3.29B	-$2.37B	-$7.19B	-$2.07B
Financing Cash Flow	$1.59B	$3.34B	$2.47B	$7.48B	$1.88B
Dividends Paid	-$56.55M	-$69.58M	-$78.84M	-$102.55M	-$113.37M
Net Change in Cash	$117.83M	$117.97M	$106.58M	$359.25M	-$112.06M

Market Snapshot

About

Dynex Capital, Inc. is a real estate investment trust (REIT) that invests in mortgage-backed securities (MBS) issued or guaranteed by U.S. government agencies or government-sponsored enterprises. The company's portfolio consists primarily of agency residential and commercial MBS, providing exposure to the U.S. housing finance market without direct credit risk. Dynex generates income from the interest rate spread between its investment portfolio and its financing costs. As a REIT, the company is required to distribute substantially all of its taxable income to shareholders as dividends.