SequelSEC

DYNEX CAPITAL INC DX

Real Estate Investment Trusts · CIK 0000826675 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
Unavailable
Fiscal year ended 2025-12-31
Operating income
Unavailable
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$1.50BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$7.43Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income4.7×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.6×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

4.7× earnings today, against a median of 6.7× across 8 years on record. Below its own history.

Float measuredPublic floatFloat / net income
2025-06-30$1.50B4.7×
2024-06-30$884.66M7.8×
2022-06-30$679.58M4.7×
2021-06-30$626.91M6.1×
2020-06-30$315.65M1.8×
2018-06-30$356.95M50.8×
2017-06-30$334.76M9.9×
2016-06-30$310.22M7.2×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

DYNEX CAPITAL INC (DX) reported net income of $319.07M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from DYNEX CAPITAL INC’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Investment Trusts.

Income

DYNEX CAPITAL INC income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
RevenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net income$319.07M$113.90M-$6.13M$143.16M$102.26M$177.53M-$152.67M$7.02M$33.89M$43.10M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 125.07Mshares 71.26Mshares 54.81Mshares 42.74Mshares 32.76Mshares 23.11Mshares 23.62MUnavailableUnavailableUnavailable
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expenseUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Diluted EPS$2.47$1.49$-0.25$3.17$2.78$6.93$-7.01UnavailableUnavailableUnavailable
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

DYNEX CAPITAL INC balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Cash & equivalents$531.04M$377.10M$119.64M$332.04M$366.02M$295.60M$62.58M$34.60M$40.87M$74.12M
Total assets$17.34B$8.18B$6.37B$3.61B$3.64B$3.09B$5.37B$3.89B$3.31B$3.40B
Current assetsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total liabilities$14.88B$7.00B$5.50B$2.70B$2.87B$2.46B$4.79B$3.36B$2.75B$2.93B
Current liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total equity incl. NCI$2.46B$1.18B$870.74M$901.33M$771.28M$633.45M$582.99M$527.15M$557.06M$467.18M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$6.44M
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

DYNEX CAPITAL INC cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Operating cash flow$120.82M$14.39M$62.20M$126.35M$146.97M$173.95M$175.35M$180.56M$204.45M$210.51M
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flow-$8.07B-$1.03B-$2.96B-$65.44M-$555.38M$2.35B-$1.61B-$869.34M$87.43M$67.97M
Financing cash flow$8.26B$1.40B$2.69B-$32.34M$519.98M-$2.35B$1.47B$690.28M-$303.57M-$264.72M
Net change in cashUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$40.18M
Stock-based compensation$12.56M$7.24M$4.83M$4.42M$2.52M$1.82M$1.20M$1.23M$1.95M$2.71M
Common dividends paid$246.60M$117.84M$93.04M$72.37M$58.90M$52.44M$68.04M$52.79M$47.53M$51.90M
Common share repurchasesUnavailableUnavailableUnavailable$0$0$372.00K$25.03M$0$0$310.00K
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

DYNEX CAPITAL INC derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Current ratioUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Revenue YoY growthUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open DX in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-10-27View SEC filing
10-Q · Filed 2026-07-27View SEC filing
10-Q · Filed 2026-04-27View SEC filing
10-K · Filed 2026-02-25View SEC filing
10-Q · Filed 2025-10-27View SEC filing
10-Q · Filed 2025-07-28View SEC filing

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Reconciliation checks needing review

1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

cash flow reconciliationreview2016-12-31

Operating, investing and financing flows differ from the reported change in cash by 26421000, beyond tolerance 2647180.00.