Dynex CapitalDX +0.70%67 PB Ratio is 1.03 as of Jun. 24, 2026, which is 11% above its 10-year median of 0.93. GuruFocus rates DX with a GF Score™ of 67/100 and a GF Value™ of $19.66 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 929 REITs companies, Dynex Capital ranks worse than 67.92% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-24), Dynex Capital's share price is $13.01. Dynex Capital's Book Value per Share for the quarter that ended in Mar. 2026 was $12.62. Hence, Dynex Capital's PB Ratio of today is 1.03.
Warning Sign:
Dynex Capital Inc stock PB Ratio (=1.02) is close to 10-year high of 1.13.
The historical rank and industry rank for Dynex Capital's PB Ratio or its related term are showing as below:
DX'
s PB Ratio Range Over the Past 10 Years
Min: 0.56 Med: 0.93 Max: 1.13
Current: 1.03
During the past 13 years, Dynex Capital's highest PB Ratio was 1.13. The lowest was 0.56. And the median was 0.93.
DX's PB Ratio is ranked worse than 67.92% of 929
companies
in the REITs industry
Industry Median: 0.87
vs DX: 1.03
During the past 12 months, Dynex Capital's average Book Value Per Share Growth Rate was 0.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -3.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -8.10% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -6.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Dynex Capital was 53.80% per year. The lowest was -59.20% per year. And the median was -4.70% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Dynex Capital PB Ratio Related Terms
Dynex Capital PB Ratio Historical Data
* Premium members only.
The historical data trend for Dynex Capital's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Mortgage subindustry, Dynex Capital's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Dynex Capital PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Dynex Capital's PB Ratio distribution charts can be found below:
* The bar in red indicates where Dynex Capital's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Dynex Capital's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Dynex Capital (DX) has a PB Ratio of 1.03 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Dynex Capital and its competitors. This is 11% above median its historical median of 0.93. Over the past decade, Dynex Capital's PB Ratio has ranged from 0.56 to 1.13. According to the industry distribution chart, Dynex Capital ranks #631 out of 929 companies in the REITs industry, placing it in the top 67.9%.
Is Dynex Capital's PB Ratio too high?
Dynex Capital's current PB Ratio of 1.03 is 11% above median its 10-year median of 0.93. Over the past 10 years, this metric has ranged from a low of 0.56 to a high of 1.13. The REITs industry median PB Ratio is 0.87. Dynex Capital's value of 1.03 is 18.4% above this industry median. Based on the distribution chart, Dynex Capital ranks #631 out of 929 companies in the REITs industry, which is below the industry midpoint. Overall, Dynex Capital has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dynex Capital's PB Ratio compare to BXMT and ARR?
According to the REITs industry distribution chart, Dynex Capital ranks #631 out of 929 companies for PB Ratio. This places Dynex Capital in the lower half of its industry. The industry median PB Ratio is 0.87. Dynex Capital's value of 1.03 is 18.4% above this benchmark. Historically, Dynex Capital's own PB Ratio has ranged from 0.56 to 1.13 over the past decade. While the company's 10-year median is 0.93 vs. the industry median of 0.87, Dynex Capital has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 929 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Dynex Capital's current PB Ratio of 1.03 is 18.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Dynex Capital and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dynex Capital's current PB Ratio is 1.03, which is 11% above median its own 10-year median of 0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dynex Capital stock overvalued right now?
Based on GuruFocus' analysis, Dynex Capital (DX) is currently considered Significantly Undervalued. The stock's GF Value™ is $19.66, compared to a current price of $13.01 — trading 33.8% below its estimated fair value. The current PB Ratio is 1.03, which is 11% above median its 10-year median of 0.93 and 18.4% above the REITs industry median of 0.87. Dynex Capital's overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Dynex Capital (DX), the current PB Ratio is 1.03 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Dynex Capital (DX) Overvalued in 2026?
Based on GuruFocus' analysis, Dynex Capital stock appears to be undervalued.
The current stock price of $13.01 is trading 33.8% below its estimated GF Value™ of $19.66.
GuruFocus considers Dynex Capital to be Significantly Undervalued.
Key valuation signals for DX:
PB Ratio: 1.03 (11% above median its 10-year median of 0.93)
GF Value™: $19.66 vs. price of $13.01 (33.8% below fair value)
Industry Position: 18.4% above the REITs median (#631 of 929)
No single metric tells the full story. See the DX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dynex Capital Inc is a real estate investment trust (REIT) focused on delivering dividends supported by long term returns from investments in mortgage assets backed by U.S. housing and commercial real estate. The Company is internally managed and mainly invests in residential and commercial mortgage-backed securities (RMBS and CMBS), which are Agency securities guaranteed by U.S. government-sponsored enterprises (GSEs). It manages interest rate, prepayment, spread, liquidity, and counterparty risks and operates through one reportable segment investing in MBS funded with repurchase agreements and equity.
67GF Score
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