DX financial statements
The full income statement, balance sheet, and cash-flow statement for Dynex Capital Inc. (DX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Total operating expenses | 53.0M+45.3% | 36.5M+11.0% | 32.9M-2.8% | 33.8M+33.1% | 25.4M+14.9% | |
| Interest expense | — | — | 215M+394.0% | 43.6M+669.0% | 5.67M-82.6% | |
| Interest & investment income | 534M+67.0% | 320M+54.0% | 208M+139.4% | 86.7M+44.4% | 60.1M-37.8% | |
| Net interest income | 114M+1845.8% | 5.88M+174.1% | -7.93M-118.4% | 43.1M-20.8% | 54.4M-14.8% | |
| 319M+180.1% | 114M+1958.0% | -6.13M-104.3% | 143M+40.0% | 102M-42.4% | ||
| Net income to common | 309M+190.8% | 106M+868.3% | -13.8M-110.2% | 135M+49.0% | 90.9M-43.2% | |
| $2.47+65.8% | $1.49+696.0% | -$0.25-107.9% | $3.17+14.0% | $2.78-59.9% | ||
| EPS (basic) | $2.49+66.0% | $1.50+700.0% | -$0.25-107.8% | $3.19+14.3% | $2.79-59.7% | |
| Weighted-avg shares (basic) | 124M+75.4% | 70.8M+29.1% | 54.8M+29.0% | 42.5M+30.4% | 32.6M+41.1% | |
| Weighted-avg shares (diluted) | 125M+75.5% | 71.3M+30.0% | 54.8M+28.2% | 42.7M+30.5% | 32.8M+41.8% | |
| Dividends per share | $2.00+25.0% | $1.60+0.7% | $1.59+1.9% | $1.56+0.0% | $1.56-6.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 531M+40.8% | 377M+215.2% | 120M-64.0% | 332M-9.3% | 366M+23.8% | |
| Total assets | 17.3B+111.9% | 8.18B+28.5% | 6.37B+76.7% | 3.61B-0.9% | 3.64B+17.6% | |
| Total liabilities | 14.9B+112.6% | 7.00B+27.3% | 5.50B+103.4% | 2.70B-5.7% | 2.87B+16.5% | |
| 2.46B+107.8% | 1.18B+36.1% | 871M-3.4% | 901M+16.9% | 771M+21.8% | ||
| Additional paid-in capital | 2.92B+67.7% | 1.74B+24.1% | 1.40B+3.5% | 1.36B+22.5% | 1.11B+27.4% | |
| Retained earnings | -442M+10.5% | -494M-2.1% | -484M-26.2% | -383M+15.1% | -451M+8.1% | |
| Accumulated other comprehensive income | -127M+26.3% | -172M-8.8% | -159M+12.6% | -181M-2795.0% | 6.73M-91.6% | |
| Total equity incl. non-controlling | 2.46B+107.8% | 1.18B+36.1% | 871M-3.4% | 901M+16.9% | 771M+21.8% | |
| Total liabilities & equity | 17.3B+111.9% | 8.18B+28.5% | 6.37B+76.7% | 3.61B-0.9% | 3.64B+17.6% | |
| Common shares issued | 175M+106.9% | 84.5M+48.1% | 57.0M+6.3% | 53.6M+46.3% | 36.7M+54.7% | |
| Common shares outstanding | 175M+106.9% | 84.5M+48.1% | 57.0M+6.3% | 53.6M+46.3% | 36.7M+54.7% | |
| Shares outstanding (cover) | 202M+123.3% | 90.5M+54.5% | 58.5M+8.7% | 53.8M+46.8% | 36.7M+36.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 121M+739.5% | 14.4M-76.9% | 62.2M-50.8% | 126M-14.0% | 147M-15.5% | ||
| Share-based compensation | 12.6M+73.7% | 7.24M+49.7% | 4.83M+9.4% | 4.42M+75.6% | 2.52M+38.0% | |
| -8.07B-686.9% | -1.03B+65.3% | -2.96B-4423.3% | -65.4M+88.2% | -555M-123.6% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Purchases of investments | — | — | — | — | 1.54B-36.7% | |
| Sales/maturities of investments | 120M+59.8% | 75.0M-13.0% | 86.3M-61.8% | 226M-42.8% | 394M-16.9% | |
| Other investing activities | — | — | — | — | 0.00 | |
| 8.26B+492.1% | 1.40B-48.0% | 2.69B+8404.5% | -32.3M-106.2% | 520M+122.1% | ||
| Long-term debt issued | 0.00-100.0% | 66.4B+182.7% | 23.5B+44.6% | 16.2B+28.6% | 12.6B-59.3% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 1.17B+251.9% | 332M+679.6% | 42.6M-82.7% | 247M+4.1% | 237M+2297.4% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Dividends paid | 247M+109.3% | 118M+26.7% | 93.0M+28.6% | 72.4M+22.9% | 58.9M+12.3% | |
| Interest paid | 369M+14.4% | 322M+80.3% | 179M+526.4% | 28.5M+399.7% | 5.71M-87.6% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.83B+147.3% | 1.14B+61.4% | 709M+20.3% | 590M-3.8% | 613M+28.1% | |
| P/E | 8.9×-11.7% | 10.0×-81.8% | 55.2×+966.2% | 5.2×-13.6% | 6.0×+122.5% | |
| P/B | 1.1×+19.0% | 1.0×+9.5% | 0.9×+15.3% | 0.8×-3.8% | 0.8×+5.2% | |
| Earnings yield | 11.3%+13.3% | 10.0%+449.2% | 1.8%-90.6% | 19.3%+15.8% | 16.7%-55.0% | |
| Dividend yield | 14.3%+12.9% | 12.6%-0.4% | 12.7%+3.5% | 12.3%+31.4% | 9.3%+0.1% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: DX’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all DX filings on SEC EDGAR → Not investment advice.