Income StatementBalance SheetCash FlowSegments
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Dynex Capital Income Statement

Revenue, expenses, and profitability over time

Dynex Capital generated $695.9M in trailing twelve-month revenue, up 1.0% year-over-year. Net income was $241.8M with a 34.75% net margin. Diluted EPS is $1.89, which grew 1.3% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$695.9MNet Income (TTM)$241.8MEps Diluted (TTM)$1.89
Latest FilingQ1 2026
Report Date2026-04-27
Market Cap$2.8B
P/E Ratio11.59

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Issuance of Common Stock (Employee Equity Plans)$1.1M$2.0M$3.4M$2.7M$4.2M$7.7M
Share-Based Payment Tax Withholding Decrease—$1.2M$0.0$441.0K$7.0K$2.4M
Tax Withholding for Share-Based Payments$1.0K$1.2M$0.0$441.0K$7.0K$2.4M
Common Stock Dividends Per Share$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Reclassifications Net of Tax$49.2M-$5.0M-$16.3M$147.6M$182.6M-$83.0M
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Unrealized Gain (Loss) on Securities-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Net Change in Cash and Restricted Cash$215.9M-$33.5M$117.8M$118.0M$106.6M$359.3M
Number of Operating Segments0.251.00———1.00
Other comprehensive income (loss), after-tax-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Interest Paid, Net$85.5M$75.7M$74.6M$69.4M$148.9M$141.9M
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation—$1.2M$0.0$441.0K$7.0K$2.4M
Equity issuance costs$31.0K$19.0K$42.0K$152.0K$18.0K$139.0K
Stock options excluded as their inclusion would be anti-dilutive (in shares)—$547.8K$687.6K——$1.3M
Dividends declared (in dollars per share)$0.4$0.5$0.5$0.5$0.5$0.5
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$12.6M$14.4M-$12.2M$162.5M$189.6M-$83.2M
Debt and Equity Securities, Realized Gain (Loss)—$0.0$0.0$0.0$0.0$8.7M
Realized gain$0.0$0.0$0.0$0.0$0.0$8.7M
Net realized gain on sale of marketable equity securities—$0.0———$8.7M
Debt Securities, Trading, Realized Loss$0.0$0.0$0.0$0.0$0.0$0.0
Dividends, Common Stock, Cash$35.6M$43.9M$59.3M$71.3M$82.6M$104.6M
Collateral received-$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
Increase Decrease In Interest Payable Net-$3.9M$2.2M$14.0M$49.7M—$36.2M
Increase (Decrease) in Other Operating Assets and Liabilities, Net-$11.1M$7.5M——-$4.4M$9.0M
Interest Income (Expense), Operating$6.9M$17.1M$23.1M$30.6M$43.5M$79.3M
Interest Income Operating$88.5M$95.1M$111.7M$149.7M$177.0M$257.4M
Interest Paid, Excluding Capitalized Interest, Operating Activity$85.5M$75.7M$74.6M$69.4M$148.9M$141.9M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$168.9M$868.5M$1.6B$3.3B$2.5B$7.5B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation$0.0-$908.4M-$1.5B-$3.3B-$2.4B-$7.2B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$15.1M$6.4M$31.9M$68.3M$14.3M$69.8M
Noncash Or Part Noncash Acquisition Investments Acquired1$168.5M$325.4M——$546.0M$347.1M
Number of operating segments$0.3$1.0———$1.0
Other comprehensive income (loss)-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Net unrealized gains (losses) on securities still held-$36.6M$19.4M$4.1M$15.0M$7.0M-$148.0K
Other Depreciation and Amortization$509.0K$496.0K$516.0K$544.0K$542.0K$545.0K
Other General and Administrative Expense$3.3M$3.8M$3.9M$4.1M$4.5M$5.2M
Other income, net-$446.0K-$354.0K-$380.0K-$534.0K-$271.0K-$775.0K
Payments for (Proceeds from) Derivative Instrument, Investing Activities-$325.0M$137.0M$64.1M$32.6M—-$169.0M
Payments of Dividends$34.8M$41.6M$56.6M$69.6M$78.8M$102.5M
Payments Of Stock Issuance Costs$57.8K$0.0———$120.0K
Payment, Tax Withholding, Share-Based Payment Arrangement$1.0K$1.2M$0.0$441.0K$7.0K$2.4M
Payments To Acquire Trading Securities Heldforinvestment$437.8M$957.1M$1.7B$3.5B$2.8B$8.5B
Proceeds from Issuance of Common Stock$64.4M$239.7M$282.1M$254.1M$393.3M$441.7M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$18.0M$60.0M$20.4M$23.6M$15.9M$18.0M
Principal payments received on trading securities$134.5M$120.9M$186.4M$232.8M$292.7M$453.3M
Repayments and sales of loans$97.0K$67.0K$57.0K$92.0K$333.0K$17.0K
Proceeds From Sale Of Trading Securities Heldforinvestment$3.4M$0.0$0.0$0.0$0.0$633.3M
Proceeds from Short-Term Debt$20.5B$22.8B——$46.6B$51.4B
Repayments of Short-Term Debt$20.4B$22.1B——$44.4B$44.2B
Stock-based compensation$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment$64.4M$239.7M$282.1M$254.1M$393.3M$441.7M
Other Comprehensive Income (Loss)$12.6M$14.4M-$12.2M$162.5M$189.6M-$83.2M
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Cash Dividends Paid$34.8M$41.6M$56.6M$69.6M$78.8M$102.5M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Operating Expense, Net-$446.0K-$354.0K-$380.0K-$534.0K-$271.0K-$775.0K
Stock-Based Compensation Expense$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Share-Based Compensation Expense$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Compensation and benefits$5.5M$7.9M$8.0M$7.3M$11.9M$15.3M
Adjustment for Amortization$9.5M$8.0M$6.4M$6.0M$5.6M$6.0M
Stock-based compensation expense$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Other operating income (expense), net-$446.0K-$354.0K-$380.0K-$534.0K-$271.0K-$775.0K
Other operating expenses$9.2M$12.1M$12.3M$12.0M$16.6M$21.3M
Share-Based Compensation$1.1M$2.0M$3.0M$3.0M$4.2M$7.7M
Total operating expenses$9.2M$12.1M$12.3M$12.0M$16.6M$21.3M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Operating Income-$446.0K-$354.0K-$380.0K-$534.0K-$271.0K-$775.0K
Other operating income (expense), net-$446.0K-$354.0K-$380.0K-$534.0K-$271.0K-$775.0K

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share (Declared)$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Basic earnings per share$0.65$-0.06$-0.14$1.09$1.38$-0.41
Diluted earnings per share$0.65$-0.06$-0.14$1.08$1.36$-0.41
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Antidilutive Securities Excluded from EPS—547.8K687.6K——1.3M
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Dividends per share declared$0.43$0.47$0.51$0.51$0.51$0.51
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common Stock Dividends Per Share Declared$0.4$0.5$0.5$0.5$0.5$0.5
Common stock dividends per share declared$0.4$0.5$0.5$0.5$0.5$0.5
Weighted-average shares, basic3.5M90.5M113.2M136M10.8M200.1M
Weighted-average shares, diluted3.5M90.5M113.2M136.9M10.9M200.1M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Derivative instruments gain (loss), net$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Unrealized Gain (Loss) on Investments-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M
Unrealized Gain (Loss) on Equity Investments-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M
Unrealized Gain (Loss) on Investments-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M
Cash Paid for Interest$85.5M$75.7M$74.6M$69.4M$148.9M$141.9M
Non-Designated Derivatives Gain (Loss), Net$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Non-Designated Derivative Gain (Loss)$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Net Gain (Loss) on Derivative Instruments$276.7M-$118.1M-$58.1M-$10.7M—$104.7M
Interest expense$81.6M$77.9M$88.6M$119.1M$133.6M$178.1M
Net investment gains (losses)$53.4M-$8.1M-$24.4M$131.8M$158.5M-$138.4M
Interest expense, short-term borrowings$20.5B$22.8B——$46.6B$51.4B
Unrealized Gain (Loss) on Equity Securities-$223.2M$110.0M$33.7M$142.5M$84.7M-$251.8M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income applicable to common shareholders$49.2M-$5.0M-$16.3M$147.6M$182.6M-$83.0M
Common Dividends Declared (Per Share)$0.4$0.5$0.5$0.5$0.5$0.5
Cash Dividends, Common Stock$35.6M$43.9M$59.3M$71.3M$82.6M$104.6M
Net earnings to common$49.2M-$5.0M-$16.3M$147.6M$182.6M-$83.0M
Net Income Available to Common Shareholders$49.2M-$5.0M-$16.3M$147.6M$182.6M-$83.0M
Net income$51.1M-$3.1M-$13.6M$150.4M$185.4M-$80.4M
Preferred stock dividends$1.9M$1.9M$2.7M$2.8M—$2.7M
Net income attributable to common stock$49.2M-$5.0M-$16.3M$147.6M$182.6M-$83.0M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net interest income$6.9M$17.1M$23.1M$30.6M$43.5M$79.3M
Total interest income$88.5M$95.1M$111.7M$149.7M$177.0M$257.4M
Total revenue$88.5M$95.1M$111.7M$149.7M$177.0M$257.4M