DYNEX CAPITAL INC (DX) Stock Fundamental Analysis
NYSE:DX - New York Stock Exchange, Inc. - US26817Q8868 - REIT - Currency: USD
We assign a fundamental rating of 3 out of 10 to DX. DX was compared to 64 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. Both the profitability and financial health of DX have multiple concerns. DX is valued quite expensively, but it does show have an excellent growth rating.
1. Profitability
1.1 Basic Checks
In the past year DX has reported negative net income.
DX had a positive operating cash flow in the past year.
Of the past 5 years DX 4 years were profitable.
DX had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
With a decent Return On Assets value of 1.02%, DX is doing good in the industry, outperforming 64.06% of the companies in the same industry.
DX has a Return On Equity of 6.95%. This is in the better half of the industry: DX outperforms 64.06% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.02% | ||
| ROE | 6.95% | ||
| ROIC | N/A |
ROA(3y)1.61%
ROA(5y)2.5%
ROE(3y)7.47%
ROE(5y)11.89%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
The Profit Margin of DX (26.41%) is better than 89.06% of its industry peers.
DX's Profit Margin has declined in the last couple of years.
The Operating Margin and Gross Margin are not available for DX so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 26.41% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-37.42%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
DX does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, DX has more shares outstanding
Compared to 5 years ago, DX has more shares outstanding
DX has a better debt/assets ratio than last year.
2.2 Solvency
DX has an Altman-Z score of -0.93. This is a bad value and indicates that DX is not financially healthy and even has some risk of bankruptcy.
DX has a Altman-Z score of -0.93. This is amonst the worse of the industry: DX underperforms 90.63% of its industry peers.
DX has a debt to FCF ratio of 406.54. This is a negative value and a sign of low solvency as DX would need 406.54 years to pay back of all of its debts.
DX has a Debt to FCF ratio of 406.54. This is in the lower half of the industry: DX underperforms 64.06% of its industry peers.
A Debt/Equity ratio of 5.63 is on the high side and indicates that DX has dependencies on debt financing.
DX has a Debt to Equity ratio of 5.63. This is in the lower half of the industry: DX underperforms 68.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.63 | ||
| Debt/FCF | 406.54 | ||
| Altman-Z | -0.93 |
ROIC/WACCN/A
WACC5.45%
2.3 Liquidity
DX has a Current Ratio of 0.05. This is a bad value and indicates that DX is not financially healthy enough and could expect problems in meeting its short term obligations.
DX has a Current ratio of 0.05. This is amonst the worse of the industry: DX underperforms 84.38% of its industry peers.
A Quick Ratio of 0.05 indicates that DX may have some problems paying its short term obligations.
DX has a Quick ratio of 0.05. This is amonst the worse of the industry: DX underperforms 84.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 |
3. Growth
3.1 Past
DX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 55.79%, which is quite impressive.
Measured over the past years, DX shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -18.72% on average per year.
The Revenue has grown by 139.84% in the past year. This is a very strong growth!
The Revenue has been growing by 13.32% on average over the past years. This is quite good.
EPS 1Y (TTM)55.79%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%141.67%
Revenue 1Y (TTM)139.84%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%402.46%
3.2 Future
Based on estimates for the next years, DX will show a very strong growth in Earnings Per Share. The EPS will grow by 118.71% on average per year.
DX is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 152.45% yearly.
EPS Next Y321.33%
EPS Next 2Y118.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year486.64%
Revenue Next 2Y152.45%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for DX. In the last year negative earnings were reported.
DX is valuated correctly with a Price/Forward Earnings ratio of 15.13.
DX's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.70, DX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 15.13 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of DX indicates a slightly more expensive valuation: DX is more expensive than 64.06% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 75.09 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
DX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as DX's earnings are expected to grow with 118.71% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y118.71%
EPS Next 3YN/A
5. Dividend
5.1 Amount
DX has a Yearly Dividend Yield of 12.98%, which is a nice return.
DX's Dividend Yield is comparable with the industry average which is at 12.91.
Compared to an average S&P500 Dividend Yield of 2.27, DX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.98% |
5.2 History
The dividend of DX decreases each year by -8.86%.
DX has paid a dividend for at least 10 years, which is a reliable track record.
DX has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-8.86%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
134.84% of the earnings are spent on dividend by DX. This is not a sustainable payout ratio.
DP134.84%
EPS Next 2Y118.71%
EPS Next 3YN/A
14.06
+0.19 (+1.37%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners50.1%
Inst Owner Change-96.83%
Ins Owners1.05%
Ins Owner Change-1.23%
Market Cap1.19B
Analysts84
Price Target13.86 (-1.42%)
Short Float %8.3%
Short Ratio3.24
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.98% |
Yearly Dividend1.68
Dividend Growth(5Y)-8.86%
DP134.84%
Div Incr Years0
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-103.71%
Min EPS beat(2)-246.74%
Max EPS beat(2)39.32%
EPS beat(4)1
Avg EPS beat(4)-115.65%
Min EPS beat(4)-246.74%
Max EPS beat(4)39.32%
EPS beat(8)1
Avg EPS beat(8)-245.64%
EPS beat(12)1
Avg EPS beat(12)-167.43%
EPS beat(16)3
Avg EPS beat(16)-125.58%
Revenue beat(2)1
Avg Revenue beat(2)28.99%
Min Revenue beat(2)-83.68%
Max Revenue beat(2)141.66%
Revenue beat(4)2
Avg Revenue beat(4)-168.94%
Min Revenue beat(4)-794.38%
Max Revenue beat(4)141.66%
Revenue beat(8)4
Avg Revenue beat(8)-68.8%
Revenue beat(12)5
Avg Revenue beat(12)-45.24%
Revenue beat(16)7
Avg Revenue beat(16)-33.47%
PT rev (1m)-2.1%
PT rev (3m)-1.81%
EPS NQ rev (1m)1460%
EPS NQ rev (3m)1460%
EPS NY rev (1m)11.15%
EPS NY rev (3m)64.09%
Revenue NQ rev (1m)58.49%
Revenue NQ rev (3m)61.86%
Revenue NY rev (1m)-26.01%
Revenue NY rev (3m)-12.86%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 15.13 | ||
| P/S | 3.95 | ||
| P/FCF | 75.09 | ||
| P/OCF | 75.09 | ||
| P/B | 1.04 | ||
| P/tB | 1.04 | ||
| EV/EBITDA | N/A |
EPS(TTM)-0.42
EYN/A
EPS(NY)0.93
Fwd EY6.61%
FCF(TTM)0.19
FCFY1.33%
OCF(TTM)0.19
OCFY1.33%
SpS3.56
BVpS13.52
TBVpS13.52
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.02% | ||
| ROE | 6.95% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 26.41% | ||
| GM | N/A | ||
| FCFM | 5.26% |
ROA(3y)1.61%
ROA(5y)2.5%
ROE(3y)7.47%
ROE(5y)11.89%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-37.42%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.63 | ||
| Debt/FCF | 406.54 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 19.92% | ||
| Current Ratio | 0.05 | ||
| Quick Ratio | 0.05 | ||
| Altman-Z | -0.93 |
F-Score7
WACC5.45%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)55.79%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%141.67%
EPS Next Y321.33%
EPS Next 2Y118.71%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)139.84%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%402.46%
Revenue Next Year486.64%
Revenue Next 2Y152.45%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y61.58%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-79.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-79.1%
OCF growth 3YN/A
OCF growth 5YN/A