DX
Dynex Capital, Inc.
DX's fundamentals are mixed, but it looks expensive: trading at 16x earnings, about three times its usual 4.7x. Analysts expect earnings growth, though they disagree widely on how much.
DX Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Stable | |
| N/A | |
| N/A |
DX's profitability is currently stable. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for real estate companies like DX.
DX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 2.9x | $1.86 | -81% |
| Fair | 4.7x | $3.00 | -70% |
| Forward | 6.2x | $9.96 | — |
| Expensive | 10x | $6.54 | -34% |
| Current | 16x | $9.96 | — |
Historical ranges are pointers, not guarantees.
DX's PE is in its expensive range at 16x. If earnings grow as analysts expect, today's price would be 6.2x next year's earnings, in its fair range.
DX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for DX, with profitability holding steady. However, they disagree widely on these estimates.
DX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.61 | +152% |
| Q3 2026 | $0.64 | -57% |
| Q2 2026 | $3.06 | +283% |
| Q1 2026 | $2.12 | +168% |
| Q4 2025 | $2.47 | +66% |
| Q3 2025 | $1.50 | +16% |
| Q2 2025 | $0.80 | +789% |
| Q1 2025 | $0.79 | -34% |
| Q4 2024 | $1.49 | +$1.74 |
DX's earnings per share have fallen from their peak: $0.64 over the past year, against $15.76 in early 2021.
DX Quarterly Revenue
DX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $81.4M | +19% |
| Q2 2026 | $84.1M | +164% |
| Q1 2026 | $69.8M | +998% |
| Q4 2025 | $14.3M | -5.5% |
| Q3 2025 | $68.3M | +$70.5M |
| Q2 2025 | $31.9M | +71% |
| Q1 2025 | $6.4M | +$23.5M |
| Q4 2024 | $15.1M | -8.6% |
DX's free cash flow was $250M over the past year, up 105% from the year before. Free cash flow isn't a meaningful measure for real estate companies like DX.
DX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +28.2M shares |
| 1 year | +123% | +139M shares |
| 3 years | +368% | +198M shares |
| 5 years | +990% | +229M shares |
| Available history | +966% | +228M shares |
DX has 252M diluted shares, up 123% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
| Q3 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | $166,000 |
| Q1 2020 | $206,000 |
| Q4 2019 | — |
DX Net Leverage
DX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 20.1 | Oversold |
| Stochastic | 7.7 | Oversold |
DX's weekly RSI is 20 (oversold) and its Stochastic is 8 (oversold).
DX PE vs Real Estate Sector
| Metric | DX | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 24x | 35% below |
| PE % | 88 | 23 | 65 pts above |
DX is trading at 16x earnings, a 35% discount to the Real Estate sector's median of 24x.
DX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.8 | 7.7% below |
| 20 week MA | $12.0 | 17% below |
| 50 week MA | $12.9 | 23% below |
| 100 week MA | $12.9 | 23% below |
| 200 week MA | $12.6 | 21% below |
DX is in a downtrend: it's below all five of its weekly moving averages, and 21% below its 200-week average.
DX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.1 | $17.7 | +3.7% |
| 2021 | $17.7 | $16.7 | -5.9% |
| 2022 | $16.7 | $13.1 | -22% |
| 2023 | $13.1 | $12.5 | -4.1% |
| 2024 | $12.5 | $12.6 | +0.4% |
| 2025 | $12.6 | $13.9 | +10% |
| 2026 YTD | $13.9 | $9.96 | -28% |
DX has finished lower in three of the last six years. It's down 28% so far in 2026.