DX - NYSE

Dynex Capital, Inc.

Dynex Capital, Inc.

DXยทNYSE

$13.04

+2.0%
Real EstateREIT - Mortgage

Dynex Capital, Inc., a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and 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 Fannie Mae and Freddie Mac. Non-Agency MBS have no such guaranty of payment. The company has qualified as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 1987 and is headquartered in Glen Allen, Virginia.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$1.98B
EPS2.4900
P/E Ratio5.24
Earnings Date07/20/2026
Dynex Capital, Inc.

Dynex Capital, Inc. Fair Value Envelope

DX ยท NYSE

Our analysis suggests that DX has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $13.045, this represents a potential HIDDEN relative to our calculated worth for Dynex Capital, Inc..

HIDDEN
Intrinsic Value
Current Price: $13.045

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$1,098.5B
+ Cash & Equivalents$930.4M
Firm Value$1,099.5B
- Debt$13.9B
Equity Value$1,085.5B
/ Shares Outstanding146,821,745B
DCF Value$7.4K
UNDERVALUED BY 56578%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$241.6M
$483.3M
$966.6M
$1.9B
$3.9B
$7.7B
$15.5B
$30.9B
$61.9B
$123.7B
Maintenance CapEx
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
-$0
Owner Earnings
$241.6M
$483.3M
$966.6M
$1.9B
$3.9B
$7.7B
$15.5B
$30.9B
$61.9B
$123.7B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$223.7M
$414.3M
$767.3M
$1.4B
$2.6B
$4.9B
$9.0B
$16.7B
$30.9B
$57.3B
Terminal Value represents 88.7% of Enterprise Value

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