Dynex Capital (DX) Financial Statements & Analysis

Dynex Capital (DX) Income Statement

Dynex Capital reported revenue of $372.11M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 147.4% from $150.40M a year earlier. Net income was $308.88M, up 190.8% year over year, a net margin of 83.0%. Gross margin was 143.4% and operating margin 85.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $197.01M.

Dynex Capital Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Dynex Capital, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	372.11	150.40	26.75	177.00	66.76	232.26	164.41	83.22	86.02
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	533.52	318.03	132.60	-2.37	66.76	232.26	164.41	83.22	86.02
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	16.38	14.09	30.73	32.35	24.09	21.08	15.99	15.11	15.82
Operating Expenses	-204.71	-109.53	-76.72	-189.15	-41.18	22.12	317.08	76.19	52.00
Operating Income	319.07	113.90	209.32	186.77	107.93	210.15	-152.67	7.02	34.01
Other Income/Expense
Interest Income	533.52	319.53	207.52	86.70	60.05	96.47	170.17	110.05	94.50
Interest Expense	419.17	313.66	215.45	43.61	5.67	32.62	114.11	59.57	36.18
Other Income/Expense	-419.17	-313.66	-2.15	-1.49	-5.67	-32.62	0.00	0.00	-0.12
Income
Income Before Tax	319.07	113.90	-6.13	143.16	102.26	177.53	-152.67	7.02	33.89
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	308.88	106.20	-6.13	143.16	102.26	177.53	-152.67	7.02	33.89
Net Income - Continuous Operations	319.07	113.90	-6.13	143.16	102.26	177.53	-152.67	7.02	33.89
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	28.07	49.54	211.63	189.13	110.24	212.13	-36.87	67.83	71.36
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	2.10	1.87	2.32	2.35	2.31	1.99	1.68	1.23	1.29
Earnings Per Share
Basic EPS	2.00	2.00	-	3.00	3.00	7.00	-7.00	-	1.00
Diluted EPS	2.00	1.00	-	3.00	3.00	7.00	-7.00	-	1.00
Basic Shares Outstanding	124.13	70.77	54.81	42.49	32.76	23.11	23.62	19.23	16.81
Diluted Shares Outstanding	125.07	71.26	54.81	42.74	32.76	23.11	23.62	19.23	16.81

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Dynex Capital Financial Statements

What was Dynex Capital's revenue in fiscal 2025?

Dynex Capital reported revenue of $372.11M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 147.4% from $150.40M a year earlier.

Is Dynex Capital profitable?

Yes. Dynex Capital earned net income of $308.88M in fiscal 2025, a net margin of 83.0%. In fiscal 2024 it earned $106.20M.

What is Dynex Capital's operating margin?

Dynex Capital's operating income was $319.07M on revenue of $372.11M in fiscal 2025, an operating margin of 85.7%, compared with 75.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition