What is Dynex Capital, Inc.'s earnings per share (EPS)?

Dynex Capital, Inc. (DX) reported diluted earnings per share of $2.47 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Dynex Capital, Inc. (DX) Financials

FY2025 annual

Revenue Not reported for FY2025

Net Income $319K -99.7% YoY

EPS (Diluted) $2.47 YoY not available

Operating Cash Flow $120.8M +739.5% YoY

Market Cap $3.1B as of Sep 11, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m outside the range published as a multiple, on $319K net income, FY2025

Price / Book 1.0x on $3.2B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 27, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DX SEC filings page.

This page shows Dynex Capital, Inc. (DX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DX FY2025 2026-08-29

The business expanded its asset base through heavy leverage, while FY2025 earnings separated sharply from cash generation.

From FY2023 to FY2025, assets rose from $6.4B to $17.3B while liabilities increased from $5.5B to $14.9B, showing that expansion was funded mainly through obligations rather than proportionate equity. Interest expense reached $419M in FY2025, nearly double FY2023's $215M, making financing cost a central business mechanic.

Net income fell from $113.9M in FY2024 to just $319K in FY2025, while operating cash flow moved the other way. That earnings–cash divergence indicates accounting profit and cash activity were being driven by materially different items.

FY2025 dividends were $246.6M, vastly exceeding reported net income. At roughly 773x earnings, the distribution was not mechanically tied to that year's accounting profit, even as leverage remained near 6.0x debt-to-equity.

Financial Health Signals

Financial health score not available

Dynex Capital, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/5

Dynex Capital, Inc. passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Cash-Backed

N/A

Dynex Capital, Inc. reported $319K of net income while generating $120.8M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Key Financial Metrics

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Earnings & Revenue

Net Income

$180.8M

YoY+1428.8%

QoQ+325.0%

Dynex Capital, Inc. reported $180.8M in net income in Q2 2026. This represents an increase of 1428.8% from the same quarter a year earlier. Against the prior quarter it is up 325.0%.

EPS (Diluted)

$0.80

QoQ+295.1%

Dynex Capital, Inc. earned $0.80 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 295.1%.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$607.6M

YoY+56.8%

QoQ-21.4%

5Y CAGR+11.7%

10Y CAGR+20.2%

Dynex Capital, Inc. held $607.6M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.51

QoQ0.0%

Dynex Capital, Inc. paid $0.51 per share in dividends in Q2 2026. It is unchanged from the prior quarter.

Shares Outstanding

247M

QoQ+15.0%

5Y CAGR+48.2%

10Y CAGR+17.5%

Dynex Capital, Inc. had 247M shares outstanding in Q2 2026. Against the prior quarter it is up 15.0%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Return on Equity

5.7%

YoY+6.5pp

QoQ+8.6pp

Dynex Capital, Inc.'s ROE was 5.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 6.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.6 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

DX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DX quarterly income statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY21DEF 14A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$127.1M+12.0%	$113.5M+36.2%	$83.4M
SG&A Expenses	N/A	$35.1M+71.3%	$20.5M+21.1%	$16.9M+0.7%	$16.8M+31.8%	$12.8M+8.6%	$11.7M+56.2%	$7.5M+13.9%	$6.6M-22.4%	$8.5M+12.7%	$7.5M-17.1%	$9.1M-4.3%	$9.5M+35.8%	$7.0M-8.3%	$7.6M+43.5%	$5.3M
Interest Expense	N/A	$419.2M+33.6%	$313.7M+45.6%	$215.4M+394.0%	$43.6M+669.0%	$5.7M-82.6%	$32.6M-71.4%	$114.1M+91.5%	$59.6M+64.7%	$36.2M+43.4%	$25.2M+11.6%	$22.6M-12.8%	$25.9M-33.6%	$39.0M+11.0%	$35.1M+45.9%	$24.1M
Net Income	N/A	$319K-99.7%	$113.9M+1958.0%	-$6.1M-104.3%	$143.2M+40.0%	$102.3M-42.4%	$177.5M+216.3%	-$152.7M-2273.8%	$7.0M-79.3%	$33.9M-21.4%	$43.1M+160.5%	$16.5M-40.5%	$27.8M-59.2%	$68.1M-8.1%	$74.0M+86.0%	$39.8M
EPS (Basic)	N/A	$2.49+66.0%	$1.50+700.0%	-$0.25-107.8%	$3.19+14.3%	$2.79-59.7%	$6.93+198.9%	-$7.01	N/A	N/A	N/A	N/A	N/A	$1.10-18.5%	$1.35+31.1%	$1.03
EPS (Diluted)	—	$2.47	$1.49	-$0.25	$3.17+14.0%	$2.78-59.9%	$6.93+198.9%	-$7.01	N/A	N/A	N/A	N/A	N/A	$1.10-18.5%	$1.35+31.1%	$1.03
Diluted Shares (Avg)	N/A	125M	71M	55M	43M+30.5%	33M+41.8%	23M-2.2%	24M	N/A	N/A	N/A	N/A	55M+0.1%	55M+2.8%	53M+37.8%	39M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
SG&A Expenses	$9.6M+19.9%	$15.3M+93.3%	N/A	$7.3M+61.6%	$8.0M+144.0%	$7.9M+10.3%	N/A	$4.5M-0.8%
Interest Expense	$209.0M+135.8%	$178.1M+128.6%	N/A	$119.1M+44.2%	$88.6M+18.5%	$77.9M+4.3%	N/A	$82.6M+26.0%
Net Income	$180.8M+1428.8%	-$80.4M-2512.5%	N/A	$150.4M+385.2%	-$13.6M-63.8%	-$3.1M-107.7%	N/A	$31.0M+172.0%
EPS (Basic)	$0.80+671.4%	-$0.41-583.3%	$1.38+112.3%	$1.09+186.8%	-$0.14+6.7%	-$0.06-109.2%	$0.65+54.8%	$0.38+146.3%
EPS (Diluted)	$0.80	-$0.41	$1.36	$1.08	-$0.14	-$0.06-109.4%	$0.65+54.8%	$0.38
Diluted Shares (Avg)	224M	200M	N/A	137M	113M	90M+51.5%	N/A	76M

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.

DX Balance Sheet

DX quarterly balance sheet

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY21DEF 14A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$17.3B+111.9%	$8.2B+28.5%	$6.4B+76.7%	$3.6B-0.9%	$3.6B+17.6%	$3.1B-42.4%	$5.4B+38.2%	$3.9B+17.6%	$3.3B-2.7%	$3.4B-7.4%	$3.7B-0.5%	$3.7B-12.5%	$4.2B-1.5%	$4.3B+65.8%	$2.6B
Cash & Equivalents	$531.0M+40.8%	$377.1M+215.2%	$119.6M-64.0%	$332.0M-9.3%	$366.0M+23.8%	$295.6M+372.3%	$62.6M+80.9%	$34.6M-15.3%	$40.9M-44.9%	$74.1M+118.4%	$33.9M-22.8%	$43.9M-36.6%	$69.3M+24.2%	$55.8M+14.4%	$48.8M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$14.9B+112.6%	$7.0B+27.3%	$5.5B+103.4%	$2.7B-5.7%	$2.9B+16.5%	$2.5B-48.6%	$4.8B+42.5%	$3.4B+22.2%	$2.7B-6.2%	$2.9B-7.8%	$3.2B+3.1%	$3.1B-15.2%	$3.6B-0.9%	$3.7B+65.7%	$2.2B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$6.4M-23.7%	$8.4M-21.7%	$10.8M-16.5%	$12.9M-57.7%	$30.5M-57.0%	$70.9M
Total Equity	$2.5B+107.8%	$1.2B+36.1%	$870.7M-3.4%	$901.3M+16.9%	$771.3M+21.8%	$633.5M+8.7%	$583.0M+10.6%	$527.2M-5.4%	$557.1M+19.2%	$467.2M-5.0%	$492.0M-19.0%	$607.3M+3.7%	$585.9M-5.0%	$616.7M+66.1%	$371.3M
Retained Earnings	-$441.9M+10.5%	-$493.7M-2.1%	-$483.6M-26.2%	-$383.2M+15.1%	-$451.5M+8.1%	-$491.1M+19.8%	-$612.2M-53.4%	-$399.0M-13.4%	-$352.0M-4.1%	-$338.1M-2.2%	-$330.7M-14.8%	-$288.2M-14.3%	-$252.1M-0.4%	-$251.0M+3.7%	-$260.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$26.4B+133.6%	$24.3B+169.1%	$17.3B+111.9%	$14.2B+81.1%	$11.3B+69.2%	$9.0B+43.5%	$8.2B+28.5%	$7.8B+29.4%
Cash & Equivalents	$607.6M+56.8%	$773.1M+136.1%	$531.0M+40.8%	$491.0M+83.0%	$387.5M+35.4%	$327.4M+10.7%	$377.1M+215.2%	$268.3M-1.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$23.2B+139.6%	$21.6B+182.7%	$14.9B+112.6%	$12.2B+82.8%	$9.7B+72.1%	$7.6B+43.1%	$7.0B+27.3%	$6.7B+27.4%
Total Equity	$3.2B+97.2%	$2.7B+94.9%	$2.5B+107.8%	$2.0B+71.3%	$1.6B+54.0%	$1.4B+45.6%	$1.2B+36.1%	$1.1B+42.0%
Retained Earnings	-$567.2M+8.3%	-$629.6M-16.0%	-$441.9M+10.5%	-$542.0M-6.8%	-$618.2M-22.1%	-$542.6M-15.7%	-$493.7M-2.1%	-$507.2M-4.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

DX Cash Flow Statement

DX quarterly cash flow statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY21DEF 14A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$236.6M	$120.8M+739.5%	$14.4M-76.9%	$62.2M-50.8%	$126.4M-14.0%	$147.0M-15.5%	$174.0M-0.8%	$175.3M-2.9%	$180.6M-11.7%	$204.4M-2.9%	$210.5M-3.0%	$217.0M+1.2%	$214.5M+2.7%	$208.8M+39.7%	$149.4M+111.5%	$70.6M
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$136.6M+50.9%	$90.5M+178.5%	$32.5M
Stock-Based Compensation	N/A	$12.6M+73.7%	$7.2M+49.7%	$4.8M+9.4%	$4.4M+75.6%	$2.5M+38.0%	$1.8M+51.3%	$1.2M-2.1%	$1.2M-37.0%	$2.0M-27.9%	$2.7M-8.6%	$3.0M+9.0%	$2.7M+17.5%	$2.3M+35.2%	$1.7M+118.6%	$783K
Investing Cash Flow	-$14.9B	-$8.1B-686.9%	-$1.0B+65.3%	-$3.0B-4423.3%	-$65.4M+88.2%	-$555.4M-123.6%	$2.4B+246.5%	-$1.6B-84.7%	-$869.3M-1094.3%	$87.4M+28.6%	$68.0M+132.5%	-$209.4M-149.4%	$424.2M+356.9%	-$165.1M+90.2%	-$1.7B-84.7%	-$915.8M
Financing Cash Flow	$15.2B	$8.3B+492.1%	$1.4B-48.0%	$2.7B+8404.5%	-$32.3M-106.2%	$520.0M+122.1%	-$2.4B-259.7%	$1.5B+113.5%	$690.3M+327.4%	-$303.6M-14.7%	-$264.7M-2955.7%	-$8.7M+98.7%	-$664.1M-2106.1%	-$30.1M-101.9%	$1.5B+77.0%	$875.1M
Dividends Paid	$364.3M	$246.6M+109.3%	$117.8M+26.7%	$93.0M+28.6%	$72.4M+22.9%	$58.9M+12.3%	$52.4M-22.9%	$68.0M+28.9%	$52.8M+11.1%	$47.5M-8.4%	$51.9M-14.9%	$61.0M-6.0%	$64.9M-6.4%	$69.3M+17.4%	$59.1M+44.5%	$40.9M
Share Buybacks	N/A	N/A	N/A	N/A	$0	$0-100.0%	$372K-98.5%	$25.0M	$0	$0-100.0%	$310K-99.2%	$41.2M	$0-100.0%	$6.9M+652.9%	$921K	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$84.1M+164.0%	$69.8M+997.7%	$14.3M-5.5%	$68.3M+3127.7%	$31.9M+71.3%	$6.4M+137.2%	$15.1M-8.6%	-$2.3M-121.7%
Stock-Based Compensation	$3.0M0.0%	$7.7M+277.8%	N/A	$3.0M+200.0%	$3.0M+200.0%	$2.0M-52.5%	N/A	$1.0M-33.3%
Investing Cash Flow	-$2.1B-37.6%	-$7.2B-691.4%	-$2.4B-7537.7%	-$3.3B-244.2%	-$1.5B-348.9%	-$908.4M-490.5%	$31.9M+105.7%	-$955.2M-14.5%
Financing Cash Flow	$1.9B+17.9%	$7.5B+761.1%	$2.5B+1359.5%	$3.3B+249.9%	$1.6B+417.2%	$868.5M+2579.0%	$168.9M-53.2%	$953.8M+18.1%
Dividends Paid	$113.4M+100.5%	$102.5M+146.4%	$78.8M+126.9%	$69.6M+122.9%	$56.6M+109.8%	$41.6M+67.0%	$34.8M+44.8%	$31.2M+35.4%

Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Share Buybacks.

DX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DX quarterly financial ratios

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY21DEF 14A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	53.5%-11.7pp	65.2%+17.5pp	47.8%
Return on Equity	0.0%-9.6pp	9.6%+10.3pp	-0.7%-16.6pp	15.9%+2.6pp	13.3%-14.8pp	28.0%+54.2pp	-26.2%-27.5pp	1.3%-4.8pp	6.1%-3.1pp	9.2%+5.9pp	3.4%-1.2pp	4.6%-7.0pp	11.6%-0.4pp	12.0%+1.3pp	10.7%
Return on Assets	0.0%-1.4pp	1.4%+1.5pp	-0.1%-4.1pp	4.0%+1.2pp	2.8%-2.9pp	5.7%+8.6pp	-2.8%-3.0pp	0.2%-0.9pp	1.0%-0.2pp	1.3%+0.8pp	0.4%-0.3pp	0.8%-0.9pp	1.6%-0.1pp	1.7%+0.2pp	1.5%
Debt-to-Equity	6.04+0.1x	5.91-0.4x	6.32+3.3x	3.00-0.7x	3.72-0.2x	3.89-4.3x	8.21+1.8x	6.37+1.4x	4.93+4.9x	0.010.0x	0.020.0x	0.020.0x	0.020.0x	0.05-0.1x	0.19
Asset Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.030.0x	0.030.0x	0.03

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	5.7%+6.5pp	-2.9%-2.7pp	N/A	7.7%+5.0pp	-0.9%-0.1pp	-0.2%-4.4pp	N/A	2.7%+8.1pp
Return on Assets	0.7%+0.8pp	-0.3%-0.3pp	N/A	1.1%+0.7pp	-0.1%0.0pp	0.0%-0.7pp	N/A	0.4%+1.1pp
Debt-to-Equity	7.32+1.3x	7.95+2.5x	6.04+0.1x	6.23+0.4x	6.03+0.6x	5.48-0.1x	5.91-0.4x	5.84-0.7x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Dynex Capital, Inc. DX	FY2025	N/A	$319K	N/A	$3.1B	—
ARMOUR Residential REIT, Inc. ARR	FY2025	N/A	$322.7M	N/A	$2.2B	—
Ladder Cap Corp LADR	FY2025	$266.9M	$63.7M	23.9%	$1.2B	23/100
Apollo Commercial Real Estate Finance, Inc. ARI	FY2025	$271.6M	$126.7M	46.7%	$858.7M	33/100
Ellington Financial Inc EFC	FY2025	$336.4M	$150.8M	44.8%	$1.7B	43/100
MFA Financial, Inc. MFA	FY2025	$745.1M	$176.8M	23.7%	$865.3M	0/100

Where Dynex Capital, Inc. Ranks

Frequently Asked Questions

Is Dynex Capital, Inc. profitable?

Yes, Dynex Capital, Inc. (DX) reported a net income of $319K in fiscal year 2025.

Does Dynex Capital, Inc. pay dividends?

Yes, Dynex Capital, Inc. (DX) paid $2.00 per share in dividends during fiscal year 2025.

What is Dynex Capital, Inc.'s return on equity (ROE)?

Dynex Capital, Inc. (DX) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Dynex Capital, Inc.'s operating cash flow?

Dynex Capital, Inc. (DX) generated $120.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Dynex Capital, Inc.'s total assets?

Dynex Capital, Inc. (DX) had $17.3B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Dynex Capital, Inc. have outstanding?

Dynex Capital, Inc. (DX) had 202M shares outstanding as of fiscal year 2025.

What is Dynex Capital, Inc.'s debt-to-equity ratio?

Dynex Capital, Inc. (DX) had a debt-to-equity ratio of 6.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dynex Capital, Inc.'s return on assets (ROA)?

Dynex Capital, Inc. (DX) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Dynex Capital, Inc.'s P/E ratio?

Dynex Capital, Inc. (DX) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $319K net income, FY2025). The market capitalization is $3.1B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Dynex Capital, Inc.'s price-to-sales ratio?

Dynex Capital, Inc. (DX) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $3.1B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Dynex Capital, Inc.'s Piotroski F-Score?

Dynex Capital, Inc. (DX) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Dynex Capital, Inc.'s earnings high quality?

Dynex Capital, Inc. (DX) reported $319K of net income while generating $120.8M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.