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DYNEX CAPITAL INC DX

NYSE · reit · Real Estate Investment Trusts · website · IPO 1988-02-10 · LEI

DYNEX CAPITAL INC statistics & valuation

P / E8.9×
P / B1.2×
Graham number +146.7%$27.98

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($27.98); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
9.20% 6.10% 1.30% -26.20% 28.00% 13.30% 15.90% -0.70% 9.60% 13.00% 2016201720182019202020212022202320242025
Shares outstanding
49.2M 55.8M 20.9M 23.6M 23.7M 36.7M 53.6M 57.0M 84.5M 174.8M 2016201720182019202020212022202320242025
Net debt ($)
-$67.7M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.30% 1.00% 0.20% -2.80% 5.70% 2.80% 4.00% -0.10% 1.40% 1.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.01× 2016201720182019202020212022202320242025
EPS ($)
-$7.01 $6.93 $2.78 $3.17 -$0.25 $1.49 $2.47 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

DYNEX CAPITAL INC trades at about 4.6× earnings — below its 10-year norm (10-year range 2.6×–27×, median 8.9×).

2.6× 27×

Shaded band = 10-year range (2.6×–27×); dot = today's 4.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets1.8%1.4%-0.1%4.0%2.8%5.7%-2.8%0.2%1.0%1.3%
Return on equity13.0%9.6%-0.7%15.9%13.3%28.0%-26.2%1.3%6.1%9.2%
Debt / equity—————————0.01×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.