Dynex Capital, Inc. (DX) Stock Analysis
Real Estate · REIT - Mortgage · NYSE
Dynex Capital, Inc. (DX) posted $372.11M in revenue for fiscal 2025 (up 147.4% year over year), at a 85.7% net margin, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Dynex Capital, Inc.
Dynex Capital, Inc. has grown revenue from $0 to $372.11M over the last 10 fiscal years. The most recent year was up 147.4%.
Net margin sits at 85.7%, up 10 points year over year.
The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Dynex Capital, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Dynex Capital, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $177.00M | $26.75M | $150.40M | $372.11M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $43.10M | $33.89M | $7.02M | $-152.67M | $177.53M | $102.26M | $143.16M | $-6.13M | $113.90M | $319.07M |
| Net margin | — | — | — | — | — | — | 80.9% | -22.9% | 75.7% | 85.7% |
Source: Dynex Capital, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
Dynex Capital, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $426.8M but operating cash flow only $197.4M — earnings aren't fully backed by cash, an accruals flag worth investigating.
Explore 17 years of Dynex Capital, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeDynex Capital, Inc. financial history by metric
Compare Dynex Capital, Inc. with peers
About Dynex Capital, Inc.
Dynex Capital, Inc., a mortgage real estate investment trust, invests in residential and commercial mortgage-backed securities (MBS) in the United States. Agency MBS have a guaranty of principal payment by an agency of the U.S. government or a U.S. government-sponsored entity, such as Fannie Mae and Freddie Mac. Non-Agency MBS do not have a guaranty of principal or interest payments. The company has qualified as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal income taxes if it distributes at least 90% of its taxable income to its shareholders. The company was incorporated in 1987 and is headquartered in Glen Allen, Virginia.
Dynex Capital, Inc. — frequently asked questions
What is Dynex Capital, Inc.'s revenue?
Dynex Capital, Inc. (DX) reported revenue of $372.11M for fiscal year 2025, up 147.4% from the prior year, according to its SEC filings.
Is Dynex Capital, Inc. profitable?
Yes. DX earned net income of $319.07M in fiscal 2025, a net margin of 85.7%.
What is DX's P/E ratio?
Dynex Capital, Inc. trades at a price-to-earnings ratio of about 6.1 based on the latest data in our nightly-refreshed cache.
How much debt does Dynex Capital, Inc. have?
As of fiscal year 2025, DX carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Dynex Capital, Inc.'s market cap?
Dynex Capital, Inc. (DX) has a market capitalization of about $2.77B, based on the latest data in our nightly-refreshed cache.
When does Dynex Capital, Inc.'s fiscal year end?
DX's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Dynex Capital, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.