NYSE : DX

Dynex Capital, Inc. — Financial statements

Real Estate · REIT - Mortgage · United States

Last price 10.89 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.83B

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest and Dividend Income1.07B533.52M319.53M207.52M86.69M60.05M
Total Interest Expense-305.38M572.86M160.88M215.45M-4.13M-34.66M
Net Interest Income1.38B-39.34M158.66M-7.93M90.82M94.71M
Gain (Loss) on Sale of Investments-1.79B465.50M-182.37M45.52M-637.74M-26.10M
Other Revenue432.19M-54.04M174.11M-10.84M723.92M59.07M
Revenue Before Loan Losses16.95M372.11M150.40M26.75M177.00M127.69M
Revenue16.95M372.11M150.40M26.75M177.00M127.69M
Salaries & Employee Benefits41.53M35.13M20.50M16.93M16.81M12.76M
Cost of Services Provided21.58M16.38M14.09M13.80M15.54M11.33M
Other Operating Expenses3.59M1.54M1.91M2.15M1.49M1.34M
Total Operating Expenses66.70M53.05M36.50M32.88M33.84M25.43M
Operating Income-49.75M319.07M113.90M-6.13M143.16M102.26M
Pretax Income-49.75M319.07M113.90M-6.13M143.16M102.26M
Net Income-49.75M319.07M113.90M-6.13M143.16M102.26M
Preferred Dividends & Other Adjustments10.84M10.19M7.69M7.69M7.69M11.32M
Net Income to Common-60.58M308.88M106.20M-13.82M135.47M90.94M
Shares Outstanding (Basic)207.78M124.13M70.77M54.81M42.49M32.60M
Shares Outstanding (Diluted)207.78M125.07M71.26M54.81M42.74M32.76M
EPS (Basic)-0.292.491.50-0.253.192.79
EPS (Diluted)-0.292.471.49-0.253.172.78
Dividend Per Share2.042.001.581.561.561.56
Operating Margin-293.46%85.74%75.73%-22.92%80.88%80.09%
Profit Margin-357.38%83.01%70.62%-51.68%76.53%71.22%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents993.01M531.04M377.10M119.64M332.04M366.02M
Long-Term Investments673.27M1.71B618.46M158.20M301.75M170.52M
Trading Asset Securities10.50M133.00K54.36M7.10M7.97M
Loans & Lease Receivables510.00K618.00K1.13M1.79M2.62M4.27M
Other Receivables175.35M85.36M43.29M30.04M25.61M16.95M
Restricted Cash834.74M399.34M244.44M118.22M117.84M55.28M
Other Long-Term Assets25.25B14.60B6.90B5.89B2.82B3.02B
Total Assets27.93B17.34B8.18B6.37B3.61B3.64B
Accrued Expenses137.15M95.20M44.67M53.19M16.45M1.36M
Short-Term Debt89.34M4.83M22.81M22.59M
Current Portion of Long-Term Debt24.19B13.90B6.56B5.38B2.64B2.85B
Other Current Liabilities50.58M45.54M16.50M56.32M9.54M10.85M
Other Long-Term Liabilities405.81M830.23M352.54M8.40M10.92M6.33M
Total Liabilities24.87B14.88B7.00B5.50B2.70B2.87B
Common Stock2.58M1.75M845.00K570.00K536.00K367.00K
Additional Paid-In Capital4.03B2.92B1.74B1.40B1.36B1.11B
Retained Earnings-1.03B-441.94M-493.73M-483.61M-383.22M-451.45M
Comprehensive Income & Other-164.60M-127.06M-172.49M-158.50M-181.35M6.73M
Total Common Equity2.83B2.35B1.08B762.89M793.49M663.44M
Shareholders' Equity3.05B2.46B1.18B870.74M901.33M771.28M
Total Liabilities & Equity27.93B17.34B8.18B6.37B3.61B3.64B
Total Debt24.28B13.91B6.59B5.38B2.67B2.85B
Net Cash (Debt)-23.29B-13.37B-6.21B-5.21B-2.33B-2.48B
Net Cash Per Share-112.08-106.88-87.13-95.00-54.46-75.57
Filing Date Shares Outstanding259.63M201.98M90.47M58.54M53.84M36.67M
Total Common Shares Outstanding258.43M174.81M84.49M57.04M53.64M36.67M
Working Capital-22.46B-13.02B-5.98B-5.17B-2.21B-2.41B
Book Value Per Share10.9413.4712.7513.3814.7918.09
Tangible Book Value2.83B2.35B1.08B762.89M793.49M663.44M
Tangible Book Value Per Share10.9413.4712.7513.3814.7918.09

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-49.75M319.07M113.90M-6.13M143.16M102.26M
Depreciation & Amortization2.13M2.10M1.87M2.31M2.35M2.31M
Loss (Gain) From Sale of Investments315.46M-231.79M-96.85M40.02M-35.85M44.86M
Stock-Based Compensation12.56M12.56M7.24M4.83M4.42M2.52M
Change in Accounts Payable26.64M50.52M-8.52M36.74M15.09M-45.00K
Change in Other Net Operating Assets675.00K3.46M234.00K-2.11M-1.74M-5.14M
Operating Cash Flow249.73M120.82M14.39M62.20M126.35M146.97M
Investment in Securities-14.26B-7.93B-1.34B-2.91B-519.27M-637.88M
Net Decrease (Increase) in Loans Originated / Sold - Investing418.00K549.00K762.00K889.00K1.65M2.10M
Other Investing Activities1.39B-145.07M316.93M-50.40M452.18M80.40M
Investing Cash Flow-12.86B-8.07B-1.03B-2.96B-65.44M-555.38M
Short-Term Debt Issued143.89B66.44B23.50B16.25B12.64B
Total Debt Issued249.30B143.89B66.44B23.50B16.25B12.64B
Short-Term Debt Repaid-136.55B-65.26B-20.77B-16.45B-12.22B
Long-Term Debt Repaid-118.00K
Total Debt Repaid-236.86B-136.55B-65.26B-20.77B-16.45B-12.22B
Net Debt Issued (Repaid)12.44B7.34B1.18B2.74B-205.51M412.63M
Issuance of Preferred Stock115.75M
Preferred Share Repurchases-69.71M
Issuance of Common Stock1.49B1.17B332.32M42.63M246.88M237.13M
Repurchase of Common Stock-4.62M-1.63M-949.00K-445.00K-1.35M-853.00K
Total Dividends Paid-423.06M-246.60M-117.84M-93.04M-72.37M-58.90M
Other Financing Activities-255.00K-157.00K-231.00K-329.00K
Financing Cash Flow13.62B8.26B1.40B2.69B-32.34M519.98M
Net Cash Flow1.00B308.85M383.68M-212.01M28.57M111.57M
Cash Interest Paid724.96M368.64M322.18M178.71M28.53M5.71M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization2.75B2.06B1.00B709.20M589.57M612.69M
PE Ratio6.669.454.356.74
PS Ratio162.045.536.6726.513.334.80
PB Ratio0.970.830.850.810.650.79
P/OCF Ratio11.0017.0269.7011.404.674.17
Debt / Equity Ratio7.965.655.566.182.963.69
Net Debt / Equity Ratio7.635.435.245.982.583.21
Quick Ratio0.050.040.060.040.140.14
Current Ratio0.080.070.100.060.180.16
Asset Turnover0.000.030.020.010.050.04
Return on Equity (ROE)-1.99%17.50%11.08%-0.69%17.12%14.56%
Return on Assets (ROA)-0.24%2.50%1.57%-0.12%3.95%3.04%
Earnings Yield-2.76%15.51%11.35%-0.86%24.28%16.69%
Dividend Yield19.28%17.00%13.31%12.55%14.19%9.34%
Payout Ratio77.29%103.47%50.55%57.59%
Buyback Yield / Dilution-95.91%-75.51%-30.01%-28.23%-30.47%-41.79%
Total Shareholder Return-76.61%-58.51%-16.71%-15.68%-16.28%-32.45%