Skip to content
Dynex Capital logo

Dynex Capital

DX

Dynex Capital, Inc. is an internally managed real estate investment trust (REIT) that invests in mortgage-backed securities (MBS) to generate long-term risk-adjusted returns and dividends.

Market cap
$2.99B+83.9%
Revenue$886.9M+134%
Net income$436.2M+567%
EPS (diluted)$2.83+241%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 19, 2026 (in 3 months)
Revenue estimate$113.7M
EPS estimate$0.40

Financials

Q2 2026

Income statement

See full
Revenue$302.8M+171%
Net income$180.8M+1,429%
EPS (diluted)$0.80+671%

Balance sheet

See full
Cash & equivalents$607.6M+56.8%
Total assets$26.4B+134%

Cash flow

See full
Operating cash flow$84.1M+164%

Valuation & ratios

Valuation

See full
Market cap$2.99B+83.9%
P/E6.9×-17.4×
P/S3.4×-0.8×

Profitability

See full
Net margin49.2%+31.9pp

Competitors

Profile

Dynex Capital, Inc. is an internally managed real estate investment trust (REIT) that invests in mortgage-backed securities (MBS) to generate long-term risk-adjusted returns and dividends. The company primarily focuses on Agency securities guaranteed by U.S. government-sponsored enterprises, backed by residential and commercial mortgage loans. Its core value proposition lies in its disciplined capital allocation and active risk management of interest rate, prepayment, and liquidity factors across market cycles.

Competitive position

Dynex is a specialized mortgage REIT that differentiates itself through an internal management structure and a 'top-down' macroeconomic risk management framework.

GeographiesUnited States
Customer segmentsPublic Markets, Institutional
Business modelInvestment Management, Leveraged Yield
SuppliersU.S. Government-sponsored enterprises (GSEs), Financial institutions providing repurchase agreement financing, U.S. Treasury market liquidity
CustomersCommon shareholders, Preferred shareholders, Institutional investors
Listed1988
Employees22.0
CEOByron L. Boston
FilingsSEC EDGAR

Questions, answered.

What is Dynex Capital's market cap?
Dynex Capital (DX) has a market capitalization of $3.0B and trades on NYSE.
What is Dynex Capital's revenue and profitability?
Dynex Capital generated $886.9M in trailing twelve-month revenue with net income of $436.2M, representing a net margin of 49.2%. These figures are based on the Q2 2026 filing.
Who are Dynex Capital's competitors?
Dynex Capital's key competitors include AGNC Investment Corp., Annaly Capital Management, Inc., Invesco Mortgage Capital Inc., and others. These companies compete in similar markets and product categories.
Who does Dynex Capital partner with?
Dynex Capital's notable partners include New York Stock Exchange, Federal Reserve.
Where is Dynex Capital headquartered?
Dynex Capital is headquartered in United States of America and employs approximately 22 people. It has been publicly traded since 1988.