Dynex Capital, Inc. (DX) is a publicly traded company in the Real Estate — REIT - Mortgage industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Dynex Capital, Inc. operates as a mortgage real estate investment trust (mREIT), primarily engaging in the leveraged acquisition of various mortgage-backed securities (MBS) within the United States. Its investment portfolio includes both agency and non-agency MBS. Agency MBS are distinguished by a principal payment guarantee from a U.S. government entity or a government-sponsored enterprise (GSE), such as Fannie Mae or Freddie Mac.
Is Dynex Capital, Inc. stock overvalued or undervalued in 2026?
Dynex Capital, Inc. (DX) trades at 51.6× earnings (P/E). No valuation verdict: we are reviewing its P/E because two ways of calculating it do not match.
Kaplio overview: Dynex Capital, Inc.
Market cap $3B · 52 weeks $11 – $15 (20 % below the high) · P/E 51.6× · 2027 expected P/E 6.7× · Dividend 18.8 % · Next earnings February 1, 2027 · expected EPS $0.39 · Closing price, Oct 28 · accounts published Oct 19.
- Valuation: P/FFO 11.1× (no verdict).
- Business: FFO/dividend 0.5× (weak).
- Balance sheet: Net debt/EBITDA 17.5× (fragile).
- Earnings: 1 of 8 (no verdict).
What would it be worth at its usual multiples?
No valuation verdict: we are reviewing its P/E because two ways of calculating it do not match.
What matters in REITs: 0 of 4 pass
- Dividend coverage (FFO/div) 0.5×, fails.
- Debt / Assets 80.2 %, fails.
- Net debt / EBITDA 17.5×, fails.
- P/FFO 11.1×, fails.
- FFO / Share $0.97, info.
Against its peers (reference peers) — Dynex Capital, Inc.: P/B 0.9×; Div. yield 18.8 %; EV/EBITDA 43.8×; $2.7B. Agree Realty Corporation (P/B 1.2×; Div. yield 4.8 %; EV/EBITDA 18.3×; $8.2B), Starwood Property Trust, Inc. (P/B 0.7×; Div. yield 15.9 %; EV/EBITDA 15.8×; $4.5B), AGNC Investment Corp. (P/B 0.9×; Div. yield 16.2 %; EV/EBITDA 64.2×; $10.5B).
Expensive or cheap against its last ten fiscal years?
Precio / FFO (aprox.) at each close: today 11.1× · median 3.0× · minimum 1.6× · maximum 62.2× · cheap below 2.1× · expensive above 11.7×. It has been cheaper than today 80% of the time over its last ten fiscal years.
Dividend
fragile · Yield 18.8 % ($1.99 per share in 2025) · Years raising it 1 · 5-year growth -3 % a year · Free cash flow coverage FFO payout 204 % · With $1,000 invested today you'd collect $188.40 a year ($15.70 a month).
Profitability
| Return on Equity | -1.74% |
| Return on Invested Capital | 2.65% |
| Return on Assets | -0.18% |
| Gross Margin | 58.88% |
| Operating Margin | 67.53% |
| Net Margin | -4.65% |
Financial Health
| Debt / Equity | 7.93 |
| Current Ratio | 0.04 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.28 |
Price Performance
| 1 month | -4.92% |
| 3 months | -14.79% |
| Year-to-date | -22.70% |
| 1 year | -18.75% |
| 3 years | +12.23% |
| 5 years | -38.11% |
| 10 years | -47.45% |
Dividend History
Paid in the last 12 months: $2.0400 per share in 12 payments.
| Date | Amount |
|---|---|
| 2026-10-22 | $0.1700 |
| 2026-09-21 | $0.1700 |
| 2026-08-21 | $0.1700 |
| 2026-07-23 | $0.1700 |
| 2026-06-22 | $0.1700 |
| 2026-05-21 | $0.1700 |
| 2026-04-23 | $0.1700 |
| 2026-03-23 | $0.1700 |
| 2026-02-23 | $0.1700 |
| 2026-01-21 | $0.1700 |
Amounts adjusted for stock splits.
Related companies: ADC · NLY · AGNC · 0H6E.L · STWD · RWTN
Explore sector: Real Estate · REIT - Mortgage
More sections of DX: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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