Income StatementBalance SheetCash FlowSegments
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Dynex Capital Cash Flow Statement

Operating, investing, and financing cash movements

Dynex Capital generated $184.3M in operating cash flow over the trailing twelve months. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$184.3MNet Cash From Investing (TTM)-$14.4BNet Cash From Financing (TTM)$14.9BDepreciation And Amortization Cf (TTM)$2.1MNet Change In Cash (TTM)$701.6M
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$2.8B
P/E Ratio11.59

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accrued investment income$780.0K$3.8M$6.6M$12.6M$12.0M$29.5M
Other working capital changes-$11.1M$7.5M——-$4.4M$9.0M
Depreciation and amortization$509.0K$496.0K$516.0K$544.0K$542.0K$545.0K
Net gains (losses) on investments-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M
Net cash from operating activities$15.1M$6.4M$31.9M$68.3M$14.3M$69.8M
Net income$51.1M-$3.1M-$13.6M$150.4M$185.4M-$80.4M
Amortization$9.5M$8.0M$6.4M$6.0M$5.6M$6.0M
Collateral (posted) received, net-$7.9M$4.8M$24.5M——-$8.4M
Increase (Decrease) in Accrued Interest Receivable, Net$780.0K$3.8M$6.6M$12.6M$12.0M$29.5M
Depreciation and amortization$509.0K$496.0K$516.0K$544.0K$542.0K$545.0K
Gain (loss) on mark-to-market of Escrowed Shares$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Stock-based compensation$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Unrealized Gain (Loss) on Derivatives$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Change in Interest Payable-$3.9M$2.2M$14.0M$49.7M—$36.2M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Change in Cash Excluding Exchange Rate Effect$215.9M-$33.5M$117.8M$118.0M$106.6M$359.3M
Net Change in Cash Excluding FX Effect$215.9M-$33.5M$117.8M$118.0M$106.6M$359.3M
Net increase (decrease) in cash$215.9M-$33.5M$117.8M$118.0M$106.6M$359.3M
Net Change in Cash Excluding Exchange Rate Effect$215.9M-$33.5M$117.8M$118.0M$106.6M$359.3M
Unrealized Gain (Loss) on Investments-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$20.5B$22.8B$34.4B$40.2B$46.6B$51.4B
Repayments of debt$20.4B$22.1B$33.0B$37.0B$44.4B$44.2B
Dividends paid$34.8M$41.6M$56.6M$69.6M$78.8M$102.5M
Payments Of Stock Issuance Costs$57.8K$0.0———$120.0K
Proceeds from issuance of commercial paper and other short-term borrowings$20.5B$22.8B——$46.6B$51.4B
Repayments of Short-Term Debt$20.4B$22.1B——$44.4B$44.2B
Proceeds from Issuance of Commercial Paper and Short-Term Borrowings$20.5B$22.8B——$46.6B$51.4B
Net cash from financing activities$168.9M$868.5M$1.6B$3.3B$2.5B$7.5B
Proceeds from issuance of common stock$64.4M$239.7M$282.1M$254.1M$393.3M$441.7M
Proceeds from Commercial Paper and Secured Lines of Credit$20.5B$22.8B——$46.6B$51.4B
Taxes paid for net share settlement$1.0K$1.2M$0.0$441.0K$7.0K$2.4M
Payments of Stock Issuance Costs$57.8K$0.0———$120.0K

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payments for Derivative Instruments (Investing)-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Proceeds from Derivative Instrument Investing Activities-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Payments for (Proceeds from) Derivative Instruments, Investing-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Payments for (Proceeds from) Derivative Instrument, Investing Activities-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$18.0M$60.0M$20.4M$23.6M$15.9M$18.0M
Fixed maturities, trading$134.5M$120.9M$186.4M$232.8M$292.7M$453.3M
Proceeds from sale of trading securities$3.4M$0.0$0.0$0.0$0.0$633.3M
Purchases of trading securities$437.8M$957.1M$1.7B$3.5B$2.8B$8.5B
Net cash from investing activities$0.0-$908.4M-$1.5B-$3.3B-$2.4B-$7.2B
Proceeds from maturities/sales of investments$18.0M$60.0M$20.4M$23.6M$15.9M$18.0M
Purchases of investments$437.8M$957.1M$1.7B$3.5B$2.8B$8.5B
Investing Cash Flows from Derivatives-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Proceeds from Principal Repayments on Loans and Leases$97.0K$67.0K$57.0K$92.0K$333.0K$17.0K
Payments for (Proceeds from) Derivative Instruments, Investing-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Payments for (Proceeds from) Derivative Instruments, Investing-$325.0M$137.0M$64.1M$32.6M—-$169.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$85.5M$75.7M$74.6M$69.4M$148.9M$141.9M
Common stock issued for acquisition of NEX$168.5M$325.4M——$546.0M$347.1M