Dynex Capital Inc
Dynex Capital, Inc., a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) in the United States. It invests in agency MBS consisting of residential MBS and commercial MBS (CMBS); and agency and non-agency CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S. government or a U.S. government-sponsored entity, such as F… Read more
Dynex Capital Inc (DX) - Net Assets
Latest net assets as of September 2025: $1.96 Billion USD
Based on the latest financial reports, Dynex Capital Inc (DX) has net assets worth $1.96 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($14.16 Billion) and total liabilities ($12.20 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.96 Billion |
| % of Total Assets | 13.83% |
| Annual Growth Rate | 6.96% |
| 5-Year Change | 87.06% |
| 10-Year Change | 140.83% |
| Growth Volatility | 86.83 |
Dynex Capital Inc - Net Assets Trend (1990–2024)
This chart illustrates how Dynex Capital Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Dynex Capital Inc (1990–2024)
The table below shows the annual net assets of Dynex Capital Inc from 1990 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.18 Billion | +36.08% |
| 2023-12-31 | $870.74 Million | -3.39% |
| 2022-12-31 | $901.33 Million | -75.58% |
| 2021-12-31 | $3.69 Billion | +482.74% |
| 2020-12-31 | $633.45 Million | +8.66% |
| 2019-12-31 | $582.99 Million | +10.59% |
| 2018-12-31 | $527.15 Million | -5.37% |
| 2017-12-31 | $557.06 Million | +19.24% |
| 2016-12-31 | $467.18 Million | -5.05% |
| 2015-12-31 | $492.02 Million | -18.98% |
| 2014-12-31 | $607.30 Million | +3.66% |
| 2013-12-31 | $585.88 Million | -5.00% |
| 2012-12-31 | $616.71 Million | +66.07% |
| 2011-12-31 | $371.35 Million | +27.02% |
| 2010-12-31 | $292.36 Million | +73.25% |
| 2009-12-31 | $168.75 Million | +20.19% |
| 2008-12-31 | $140.41 Million | -1.08% |
| 2007-12-31 | $141.94 Million | +3.95% |
| 2006-12-31 | $136.54 Million | -8.57% |
| 2005-12-31 | $149.33 Million | +0.38% |
| 2004-12-31 | $148.77 Million | -0.72% |
| 2003-12-31 | $149.85 Million | -32.93% |
| 2002-12-31 | $223.42 Million | -7.72% |
| 2001-12-31 | $242.11 Million | +54.08% |
| 2000-12-31 | $157.13 Million | -51.66% |
| 1999-12-31 | $325.07 Million | -28.22% |
| 1998-12-31 | $452.90 Million | -19.25% |
| 1997-12-31 | $560.90 Million | +11.40% |
| 1996-12-31 | $503.50 Million | +41.91% |
| 1995-12-31 | $354.80 Million | +79.65% |
| 1994-12-31 | $197.50 Million | -21.94% |
| 1993-12-31 | $253.00 Million | +42.62% |
| 1992-12-31 | $177.40 Million | +46.13% |
| 1991-12-31 | $121.40 Million | +0.83% |
| 1990-12-31 | $120.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Dynex Capital Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 48573400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $845.00K | 0.07% |
| Other Comprehensive Income | $-172.49 Million | -14.56% |
| Other Components | $1.85 Billion | 156.15% |
| Total Equity | $1.18 Billion | 100.00% |
Dynex Capital Inc Competitors by Market Cap
The table below lists competitors of Dynex Capital Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Changzhou Fusion New Material Co. Ltd. A
SHG:688503
|
$1.93 Billion |
|
Disc Medicine Inc.
NASDAQ:IRON
|
$1.93 Billion |
|
JB Chemicals & Pharmaceuticals Limited
NSE:JBCHEPHARM
|
$1.93 Billion |
|
Photronics Inc
NASDAQ:PLAB
|
$1.93 Billion |
|
Aecc Aero Engine Control Co Ltd
SHE:000738
|
$1.93 Billion |
|
BTS Group Holdings Public Company Limited
PINK:BTGWF
|
$1.93 Billion |
|
North Industries Group Red Arrow Co Ltd
SHE:000519
|
$1.93 Billion |
|
Patanjali Foods Limited
NSE:PATANJALI
|
$1.93 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Dynex Capital Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 870,735,000 to 1,184,936,000, a change of 314,201,000 (36.1%).
- Net income of 113,898,000 contributed positively to equity growth.
- Dividend payments of 117,844,000 reduced retained earnings.
- Share repurchases of 332,317,000 reduced equity.
- New share issuances of 332,317,000 increased equity.
- Other comprehensive income decreased equity by 13,986,999.
- Other factors increased equity by 332,133,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $113.90 Million | +9.61% |
| Dividends Paid | $117.84 Million | -9.95% |
| Share Repurchases | $332.32 Million | -28.05% |
| Share Issuances | $332.32 Million | +28.05% |
| Other Comprehensive Income | $-13.99 Million | -1.18% |
| Other Changes | $332.13 Million | +28.03% |
| Total Change | $- | 36.08% |
Book Value vs Market Value Analysis
This analysis compares Dynex Capital Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.80x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.25x to 0.80x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $53.39 | $13.22 | x |
| 1991-12-31 | $53.79 | $13.22 | x |
| 1992-12-31 | $64.49 | $13.22 | x |
| 1993-12-31 | $78.52 | $13.22 | x |
| 1994-12-31 | $59.76 | $13.22 | x |
| 1995-12-31 | $105.78 | $13.22 | x |
| 1996-12-31 | $283.98 | $13.22 | x |
| 1997-12-31 | $155.76 | $13.22 | x |
| 1998-12-31 | $118.04 | $13.22 | x |
| 1999-12-31 | $84.96 | $13.22 | x |
| 2000-12-31 | $41.17 | $13.22 | x |
| 2001-12-31 | $63.46 | $13.22 | x |
| 2002-12-31 | $47.74 | $13.22 | x |
| 2003-12-31 | $41.34 | $13.22 | x |
| 2004-12-31 | $39.60 | $13.22 | x |
| 2005-12-31 | $36.84 | $13.22 | x |
| 2006-12-31 | $33.15 | $13.22 | x |
| 2007-12-31 | $35.08 | $13.22 | x |
| 2008-12-31 | $34.61 | $13.22 | x |
| 2009-12-31 | $27.46 | $13.22 | x |
| 2010-12-31 | $41.93 | $13.22 | x |
| 2011-12-31 | $28.88 | $13.22 | x |
| 2012-12-31 | $34.81 | $13.22 | x |
| 2013-12-31 | $32.16 | $13.22 | x |
| 2014-12-31 | $33.31 | $13.22 | x |
| 2015-12-31 | $27.93 | $13.22 | x |
| 2016-12-31 | $28.54 | $13.22 | x |
| 2017-12-31 | $33.15 | $13.22 | x |
| 2018-12-31 | $27.41 | $13.22 | x |
| 2019-12-31 | $24.68 | $13.22 | x |
| 2020-12-31 | $27.42 | $13.22 | x |
| 2021-12-31 | $23.54 | $13.22 | x |
| 2022-12-31 | $21.09 | $13.22 | x |
| 2023-12-31 | $15.89 | $13.22 | x |
| 2024-12-31 | $16.63 | $13.22 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Dynex Capital Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.61%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 75.73%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 6.91x
- Recent ROE (9.61%) is above the historical average (5.13%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 10.63% | 60.66% | 0.01x | 11.73x | $760.00K |
| 1991 | 17.79% | 62.97% | 0.02x | 15.08x | $9.46 Million |
| 1992 | 21.53% | 63.56% | 0.03x | 12.76x | $20.46 Million |
| 1993 | 21.38% | 75.35% | 0.02x | 14.73x | $28.80 Million |
| 1994 | 25.27% | 67.80% | 0.02x | 18.23x | $30.15 Million |
| 1995 | 10.40% | 66.97% | 0.02x | 9.84x | $1.42 Million |
| 1996 | 14.50% | 77.83% | 0.02x | 7.92x | $22.65 Million |
| 1997 | 13.19% | 70.81% | 0.02x | 9.59x | $17.91 Million |
| 1998 | 4.31% | 24.87% | 0.02x | 11.44x | $-25.78 Million |
| 1999 | -23.11% | -102.20% | 0.02x | 12.89x | $-107.64 Million |
| 2000 | -58.46% | -291.75% | 0.01x | 20.11x | $-107.58 Million |
| 2001 | -1.27% | -7.72% | 0.02x | 10.61x | $-27.30 Million |
| 2002 | -6.64% | -64.79% | 0.01x | 10.02x | $-37.19 Million |
| 2003 | -14.09% | -51.53% | 0.02x | 12.45x | $-36.09 Million |
| 2004 | -2.27% | -8.94% | 0.03x | 9.42x | $-18.25 Million |
| 2005 | 6.42% | 40.75% | 0.03x | 5.40x | $-5.35 Million |
| 2006 | 3.60% | 42.61% | 0.02x | 3.42x | $-8.74 Million |
| 2007 | 6.27% | 76.62% | 0.03x | 2.64x | $-5.29 Million |
| 2008 | 10.77% | 69.54% | 0.04x | 4.32x | $1.08 Million |
| 2009 | 10.42% | 70.49% | 0.03x | 5.68x | $705.70K |
| 2010 | 10.08% | 78.98% | 0.02x | 5.64x | $236.30K |
| 2011 | 10.72% | 53.95% | 0.03x | 6.95x | $2.68 Million |
| 2012 | 12.01% | 86.14% | 0.02x | 6.94x | $12.37 Million |
| 2013 | 11.62% | 83.64% | 0.02x | 7.20x | $9.48 Million |
| 2014 | 4.58% | 38.96% | 0.02x | 6.07x | $-32.92 Million |
| 2015 | 3.36% | 49.34% | 0.01x | 7.46x | $-32.66 Million |
| 2016 | 9.23% | 75.85% | 0.02x | 7.27x | $-3.62 Million |
| 2017 | 6.08% | 68.01% | 0.02x | 5.93x | $-21.81 Million |
| 2018 | 1.33% | 29.64% | 0.01x | 7.37x | $-45.69 Million |
| 2019 | -26.19% | 0.00% | -0.03x | 9.21x | $-210.97 Million |
| 2020 | 28.03% | 88.91% | 0.06x | 4.87x | $114.18 Million |
| 2021 | 13.26% | 80.09% | 0.03x | 4.79x | $25.13 Million |
| 2022 | 15.88% | 80.88% | 0.05x | 4.00x | $53.03 Million |
| 2023 | -0.70% | 0.00% | -0.01x | 7.32x | $-93.20 Million |
| 2024 | 9.61% | 75.73% | 0.02x | 6.91x | $-4.60 Million |
Industry Comparison
This section compares Dynex Capital Inc's net assets metrics with peer companies in the REIT - Mortgage industry.
Industry Context
- Industry: REIT - Mortgage
- Average net assets among peers: $1,096,262,362
- Average return on equity (ROE) among peers: 8.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Dynex Capital Inc (DX) | $1.96 Billion | 10.63% | 6.23x | $1.93 Billion |
| Arbor Realty Trust (ABR) | $361.58 Million | 13.94% | 5.10x | $1.46 Billion |
| Acres Commercial Realty Corp (ACR) | $228.83 Million | 2.77% | 6.85x | $126.82 Million |
| Ares Commercial Real Estate (ACRE) | $456.49 Million | 7.51% | 2.02x | $265.18 Million |
| AFC Gamma Inc (AFCG) | $91.65 Million | 11.30% | 0.03x | $40.49 Million |
| AGNC Investment Corp (AGNCL) | $546.82 Million | 21.69% | 7.46x | $27.70 Billion |
| AGNC Investment Corp. 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock (AGNCZ) | $6.21 Billion | 12.40% | 8.33x | $245.43K |
| Great Ajax Corp (AJX) | $282.72 Million | 9.85% | 2.39x | $347.80K |
| Angel Oak Mortgage Inc (AOMR) | $44.05 Million | -14.07% | 8.78x | $127.29 Million |
| Apollo Commercial Real Estate Finance Inc (ARI) | $2.63 Billion | 8.75% | 1.62x | $1.36 Billion |
| ARMOUR Residential REIT Inc (ARR) | $108.71 Million | 6.01% | 10.12x | $2.04 Billion |