DYNEX CAPITAL INC (DX) Stock Fundamental Analysis
NYSE:DX - New York Stock Exchange, Inc. - US26817Q8868 - REIT - Currency: USD
DX gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 65 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. There are concerns on the financial health of DX while its profitability can be described as average. DX is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!
1. Profitability
1.1 Basic Checks
In the past year DX was profitable.
In the past year DX had a positive cash flow from operations.
DX had positive earnings in 4 of the past 5 years.
DX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DX has a Return On Assets of 1.30%. This is amongst the best in the industry. DX outperforms 83.08% of its industry peers.
The Return On Equity of DX (8.96%) is better than 92.31% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.3% | ||
| ROE | 8.96% | ||
| 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
DX has a better Profit Margin (33.39%) than 92.31% of its industry peers.
DX's Profit Margin has declined in the last couple of years.
The Gross Margin of DX (1.37%) is worse than 95.38% of its industry peers.
In the last couple of years the Gross Margin of DX has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 33.39% | ||
| GM | 1.37% |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-37.42%
PM growth 5YN/A
GM growth 3Y-75.33%
GM growth 5Y-47.03%
2. Health
2.1 Basic Checks
DX does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for DX has been increased compared to 1 year ago.
Compared to 5 years ago, DX has more shares outstanding
The debt/assets ratio for DX has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of -0.92, we must say that DX is in the distress zone and has some risk of bankruptcy.
DX's Altman-Z score of -0.92 is on the low side compared to the rest of the industry. DX is outperformed by 84.62% of its industry peers.
The Debt to FCF ratio of DX is 456.03, which is on the high side as it means it would take DX, 456.03 years of fcf income to pay off all of its debts.
DX has a Debt to FCF ratio of 456.03. This is in the lower half of the industry: DX underperforms 64.62% of its industry peers.
DX has a Debt/Equity ratio of 5.54. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 5.54, DX is doing worse than 64.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.54 | ||
| Debt/FCF | 456.03 | ||
| Altman-Z | -0.92 |
ROIC/WACCN/A
WACC5.83%
2.3 Liquidity
A Current Ratio of 0.06 indicates that DX may have some problems paying its short term obligations.
DX has a worse Current ratio (0.06) than 80.00% of its industry peers.
DX has a Quick Ratio of 0.06. 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 Quick ratio of 0.06. This is amonst the worse of the industry: DX underperforms 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.06 | ||
| Quick Ratio | 0.06 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 107.34% over the past year.
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!
DX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.32% yearly.
EPS 1Y (TTM)107.34%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%166.67%
Revenue 1Y (TTM)139.84%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%636.65%
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 76.07% on average per year.
The Revenue is expected to grow by 206.03% on average over the next years. This is a very strong growth
EPS Next Y377.12%
EPS Next 2Y134.67%
EPS Next 3Y76.07%
EPS Next 5YN/A
Revenue Next Year726.93%
Revenue Next 2Y206.03%
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
A Price/Earnings ratio of 148.25 indicates a quite expensive valuation of DX.
Compared to the rest of the industry, the Price/Earnings ratio of DX indicates a slightly more expensive valuation: DX is more expensive than 67.69% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of DX to the average of the S&P500 Index (28.33), we can say DX is valued expensively.
A Price/Forward Earnings ratio of 8.05 indicates a reasonable valuation of DX.
Based on the Price/Forward Earnings ratio, DX is valued a bit cheaper than 67.69% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of DX to the average of the S&P500 Index (21.37), we can say DX is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 148.25 | ||
| Fwd PE | 8.05 |
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 60.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 79.28 | ||
| 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.
DX's earnings are expected to grow with 76.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.39
PEG (5Y)N/A
EPS Next 2Y134.67%
EPS Next 3Y76.07%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 17.80%, DX is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 14.90, DX pays a better dividend. On top of this DX pays more dividend than 83.08% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.51, DX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 17.8% |
5.2 History
The dividend of DX decreases each year by -11.72%.
DX has been paying a dividend for at least 10 years, so it has a reliable track record.
DX has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-11.72%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
DX pays out 110.96% of its income as dividend. This is not a sustainable payout ratio.
DP110.96%
EPS Next 2Y134.67%
EPS Next 3Y76.07%
11.86
+0.05 (+0.42%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)
Earnings (Next)
Inst Owners50.1%
Inst Owner Change0.19%
Ins Owners1.05%
Ins Owner Change5.6%
Market Cap1.14B
Analysts84
Price Target14.45 (21.84%)
Short Float %8.59%
Short Ratio2.67
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 17.8% |
Yearly Dividend1.67
Dividend Growth(5Y)-11.72%
DP110.96%
Div Incr Years0
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-101.98%
Min EPS beat(2)-246.74%
Max EPS beat(2)42.78%
EPS beat(4)2
Avg EPS beat(4)-100.83%
Min EPS beat(4)-246.74%
Max EPS beat(4)42.78%
EPS beat(8)2
Avg EPS beat(8)-229.65%
EPS beat(12)2
Avg EPS beat(12)-163.61%
EPS beat(16)4
Avg EPS beat(16)-122.23%
Revenue beat(2)0
Avg Revenue beat(2)-67.64%
Min Revenue beat(2)-83.68%
Max Revenue beat(2)-51.61%
Revenue beat(4)1
Avg Revenue beat(4)-197%
Min Revenue beat(4)-794.38%
Max Revenue beat(4)141.66%
Revenue beat(8)3
Avg Revenue beat(8)-101.85%
Revenue beat(12)5
Avg Revenue beat(12)-49.21%
Revenue beat(16)6
Avg Revenue beat(16)-37.05%
PT rev (1m)0%
PT rev (3m)2.1%
EPS NQ rev (1m)36.41%
EPS NQ rev (3m)454.18%
EPS NY rev (1m)25.21%
EPS NY rev (3m)39.16%
Revenue NQ rev (1m)61.18%
Revenue NQ rev (3m)55.36%
Revenue NY rev (1m)40.96%
Revenue NY rev (3m)1.76%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 148.25 | ||
| Fwd PE | 8.05 | ||
| P/S | 3.59 | ||
| P/FCF | 79.28 | ||
| P/OCF | 79.28 | ||
| P/B | 0.96 | ||
| P/tB | 0.96 | ||
| EV/EBITDA | N/A |
EPS(TTM)0.08
EY0.67%
EPS(NY)1.47
Fwd EY12.42%
FCF(TTM)0.15
FCFY1.26%
OCF(TTM)0.15
OCFY1.26%
SpS3.31
BVpS12.32
TBVpS12.32
PEG (NY)0.39
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.3% | ||
| ROE | 8.96% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 33.39% | ||
| GM | 1.37% | ||
| FCFM | 4.53% |
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 3Y-75.33%
GM growth 5Y-47.03%
F-Score7
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.54 | ||
| Debt/FCF | 456.03 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 13.55% | ||
| Current Ratio | 0.06 | ||
| Quick Ratio | 0.06 | ||
| Altman-Z | -0.92 |
F-Score7
WACC5.83%
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)107.34%
EPS 3Y-18.72%
EPS 5YN/A
EPS Q2Q%166.67%
EPS Next Y377.12%
EPS Next 2Y134.67%
EPS Next 3Y76.07%
EPS Next 5YN/A
Revenue 1Y (TTM)139.84%
Revenue growth 3Y68.26%
Revenue growth 5Y13.32%
Sales Q2Q%636.65%
Revenue Next Year726.93%
Revenue Next 2Y206.03%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y72.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-76.86%
FCF growth 3Y-53.91%
FCF growth 5Y-39.34%
OCF growth 1Y-76.86%
OCF growth 3Y-53.91%
OCF growth 5Y-39.34%