Dynex CapitalDX +0.38%67 Return-on-Tangible-Equity is -12.40% as of Mar. 2026. GuruFocus rates DX with a GF Score™ of 67/100 and a GF Value™ of $19.85 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 938 REITs companies, Dynex Capital ranks better than 79.42% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Dynex Capital's annualized net income for the quarter that ended in Mar. 2026 was $-321.4 Mil. Dynex Capital's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $2,591.7 Mil. Therefore, Dynex Capital's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -12.40%.
The historical rank and industry rank for Dynex Capital's Return-on-Tangible-Equity or its related term are showing as below:
DX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -27.5 Med: 10.04 Max: 29.19
Current: 11.91
During the past 13 years, Dynex Capital's highest Return-on-Tangible-Equity was 29.19%. The lowest was -27.50%. And the median was 10.04%.
DX's Return-on-Tangible-Equity is ranked better than 79.42% of 938
companies
in the REITs industry
Industry Median: 6.265
vs DX: 11.91
Dynex Capital (NYSE:DX) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Dynex Capital Return-on-Tangible-Equity Related Terms
Dynex Capital Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Dynex Capital's Return-on-Tangible-Equity 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.
DX vs BXMT, ARR, EFC: Return-on-Tangible-Equity Comparison
For the REIT - Mortgage subindustry, Dynex Capital's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs REITs Industry
For the REITs industry and Real Estate sector, Dynex Capital's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Dynex Capital's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -12.40% mean?
Dynex Capital (DX) has a Return-on-Tangible-Equity of -12.40% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Dynex Capital and its competitors. According to the industry distribution chart, Dynex Capital ranks #193 out of 938 companies in the REITs industry, placing it in the top 20.6%.
Is Dynex Capital's Return-on-Tangible-Equity too high?
Dynex Capital's current Return-on-Tangible-Equity is -12.40%. Based on the distribution chart, Dynex Capital ranks #193 out of 938 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. 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 Return-on-Tangible-Equity compare to BXMT and ARR?
According to the REITs industry distribution chart, Dynex Capital ranks #193 out of 938 companies for Return-on-Tangible-Equity. This places Dynex Capital in the top 21% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.27. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a REITs company?
The median Return-on-Tangible-Equity among REITs companies is 6.27, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Dynex Capital and its competitors. For the REITs industry, the median Return-on-Tangible-Equity is 6.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dynex Capital's current Return-on-Tangible-Equity is -12.40%. 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 $19.85, compared to a current price of $13.14 — trading 33.8% below its estimated fair value. The current Return-on-Tangible-Equity is -12.40%. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Dynex Capital (DX), the current Return-on-Tangible-Equity is -12.40% as of Mar. 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 $13.14 is trading 33.8% below its estimated GF Value™ of $19.85.
GuruFocus considers Dynex Capital to be Significantly Undervalued.
Key valuation signals for DX:
Return-on-Tangible-Equity: -12.40%
GF Value™: $19.85 vs. price of $13.14 (33.8% below fair value)
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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