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DXDynex Capital, Inc.
$10.68$1.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
DX logo

Dynex Capital, Inc.

DX
NYSE · Mortgage REITs
$10.68
At close - Nov 6, 4:00 PM EST - USD
Market Cap$1.62B
P/E-54.1x
52W High$14.93
Volume5.34M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Leveraged mREIT Growth Masks Earnings Volatility

Dynex Capital's revenue tripled to $332.5M in 2026Q3 (122.1% YoY), yet FFO collapsed to -$335.1M from +$181.4M the prior quarter, suggesting top-line expansion driven by mark-to-market gains rather than recurring net interest spread.

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

DX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

2/12 Beats

EPS beat 2 of last 12 quarters

02

Valuation risk

-498% Peers

P/E is 498% below peer median

03

Market leadership

RS 33 · Lag

Laggard (Underperforming 67% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Jan 19

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
DX-10.87%
S&P 500 (^GSPC)+7.63%
1-Year Return
DX-4.72%
S&P 500 (^GSPC)+9.69%
3-Year Return
DX+47.64%
S&P 500 (^GSPC)+68.07%
5-Year Return
DX+8.04%
S&P 500 (^GSPC)+56.28%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-54.1x
Forward P/E
7.3x
EV/EBITDA100th %ile
20.0x
FCF YieldCash Flow
15.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-54.1x
6.0x
0th· Low
EV/EBITDA
20.0x
2.7x
100th· High
Price/FCF
6.5x
11.0x
40th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$17.67+65.4%
Base (Fair)$23.62+121.2%
Bull$29.93+180.2%
$17.67 Bear$23.62 Base$29.93 Bull
Current Market Price: $10.68
Trades at a 54.8% discount to Base DCF ($23.62)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$534M+67.8% YoY
Net income FY25
$319M+180.1% YoY
Free cash flow FY25
$121M+739.5% YoY
Operating margin FY25
138.4%+3.9 pts YoY
ROIC (FY25)4.8%
Avg ROIC 5Y17.4%
ROE (TTM)-1.7%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate2/12 (17%)
Revenue Beat Rate6/12 (50%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 19, 2026
$0.38-1.6%
vs $0.39
$102M-10.5%
vs $113M
Q3 2026
Jul 20, 2026
$0.36-1.3%
vs $0.36
$94M-9.5%
vs $104M
Q2 2026
Apr 20, 2026
$0.31-1.0%
vs $0.31
$79M-11.1%
vs $89M
Q1 2026
Jan 26, 2026
$0.22-42.0%
vs $0.38
$43M-30.0%
vs $62M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Business Wire·Oct 26, 2026
Dynex Capital, Inc. Named One of TIME's America's Growth Leaders for 2027

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX, “Dynex” or the “Company”) is proud to announce its inclusion in the America's Growth Leaders 2027 list, a distinguished ranking honoring companies demonstrating exceptional growth performance, financial stability, and stock performance. This recognition is presented by TIME and Statista, global leaders in data analysis and industry benchmarking, and it can now be viewed on time.com. Being named to the America's Growth Leaders 2027.

Seeking Alpha·Oct 25, 2026
REITs Rebound As Earnings Deliver

U.S. markets remained unsettled as cracks emerged in the AI investment boom, while another oil-price surge complicated the inflation outlook ahead of Wednesday's Fed decision. Treasury yields fell for a third straight week as AI-related risk-off flows strengthened, with markets now assigning just 10% odds of an October hike despite still-elevated energy prices. REITs rallied for a third-straight week as earnings opened on an encouraging note: 15 REITs raised full-year FFO guidance, reinforcing the view that fundamentals remain healthier than recent price action.

Business Wire·Oct 22, 2026
Did You Lose Money on Dynex Capital, Inc. Stock? The Law Offices of Howard G.

BENSALEM, Pa.--(BUSINESS WIRE)--Investors who suffered losses on Dynex Capital, Inc. ("Dynex" or the "Company") stock may have claims to recover those losses. The Law Offices of Howard G. Smith today reported that it is conducting a securities fraud investigation on behalf of Dynex Capital, Inc. (NYSE: DX) investors into whether the Company may have violated the federal securities laws. The investigation comes after a October 19, 2026 disclosure concerning Dynex Capital, Inc.Investors with losse.

Fool - Investing News·Oct 19, 2026
Dynex: 3 Key Takeaways for Long-Term Investors

Stable funding and low refinancing activity let Dynex earn attractive spreads without waiting for rate cuts.

Filtered for Dynex Capital, Inc.More Headlines
04

Compare before deciding

Benchmark DX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Dynex Capital, Inc. (DX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
DX logoDXDynex Capital, Inc.Current
$10.68$1.62B-54.0867.76%-4.65%-1.74%18.46%
AGNC logoAGNCAGNC Investment Corp.
$8.78$10.08B178.82-60.79%1.68%0.48%17.81%
NLY logoNLYAnnaly Capital Management, Inc.
$18.75$14.07B12.645.35%14.55%6.94%15.66%
MFA logoMFAMFA Financial, Inc.
$6.21$634M-50.45213.02%-2%-0.66%28.82%
ARR logoARRARMOUR Residential REIT, Inc.
$12.60$1.47B-34.98444.08%-5.85%-2.19%22.85%
IVR logoIVRInvesco Mortgage Capital Inc.
$5.41$562.35M-19.383.17%—-3.25%29.8%

Compare DX vs Peers

Dynex Capital, Inc. (DX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AGNC

Most directly comparable listed peer for DX.

Scale Benchmark

vs JPM

Larger-name benchmark to compare DX against a more recognizable public peer.

Peer Set

Compare Top 5

vs AGNC, NLY, MFA, ARR

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

DX SEC Filings & Documents

Dynex Capital, Inc. (DX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 19, 2026·SEC

Material company update

Sep 29, 2026·SEC

Material company update

Jul 28, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 27, 2026·SEC

FY 2026

Jul 27, 2026·SEC

FY 2026

Apr 27, 2026·SEC

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DX Frequently Asked Questions

Dynex Capital, Inc. (DX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Dynex Capital, Inc.'s revenue?

Dynex Capital, Inc. (DX) reported $1.07B in revenue over the trailing twelve months. Revenue was $533.5M in fiscal year 2025. That is 469% more than the $93.8M of fiscal year 1996.

How fast is Dynex Capital, Inc. growing?

Dynex Capital, Inc. (DX) grew revenue by 140.4% over the trailing twelve months, compared with the twelve months before.

Is DX profitable?

No. Dynex Capital, Inc. (DX) reported a net loss of $49.7M over the trailing twelve months.

Dividend & Returns
Does DX pay dividends?

Yes. Dynex Capital, Inc. (DX) pays a dividend that yields 18.46% at the current price, a high yield.

What is DX's return on equity?

Dynex Capital, Inc. (DX) had a return on equity (ROE) of -1.7% over the trailing twelve months. A negative ROE means the company lost money over the period.

Industry Metrics
What is Dynex Capital, Inc.'s FFO?

Dynex Capital, Inc. (DX) generated Funds From Operations (FFO) of $-41.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is DX a good dividend stock?

Dynex Capital, Inc. (DX) offers a 18.46% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in DX back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →