| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 149.68 | 33.9% | 79.3% |
| Total Income | 149.68 | 33.9% | 79.3% |
| Expenditure | -0.71 | 100.6% | 101.3% |
| PBT | — | ||
| Net Profit | 150.39 | 1205.0% | 385.1% |
| OPM | — | ||
| NPM | 100.00% | 112.18pp | 62.86pp |
| EPS | 1.09 | 878.6% | 186.8% |
Dynex Capital Announces Third Quarter 2025 Results
04 May 2026 · 4 May, 9:00 am
Summary
Dynex Capital, Inc. reported its third quarter 2025 financial results, featuring a total economic return of $1.23 per common share. The company's book value per common share stood at $12.67 as of September 30, 2025. During the quarter, Dynex Capital raised $254 million in equity capital and invested in Agency RMBS and CMBS. Management anticipates continued improvement in the Company's financing rate during the fourth quarter of 2025 due to the Federal Open Market Committee's lowering of the targeted Federal Funds rate by 25 basis points in September of 2025.
Key Highlights
- 1
Dynex Capital reported a total economic return of $1.23 per common share, representing 10.3% of beginning book value for the third quarter of 2025.
- 2
The company's book value per common share was $12.67 as of September 30, 2025.
- 3
Comprehensive income was reported as $1.20 per common share, and net income was $1.09 per common share for the third quarter.
- 4
Dynex Capital raised equity capital of $254 million, net of issuance costs, through at-the-market common stock issuances.
- 5
The company purchased $2.4 billion in Agency RMBS and $464 million in Agency CMBS during the quarter.
- 6
Dynex Capital maintained liquidity of over $1 billion as of September 30, 2025.
- 7
Leverage, including to-be-announced securities at cost, was 7.5 times shareholders' equity as of September 30, 2025.
Management Comments
Smriti Laxman Popenoe
"In the third quarter, we continued to execute on our strategy of raising and deploying capital. The results this quarter reflect our opportunistic positioning, expert risk management and the opportunity in a leveraged Agency mortgage-backed securities portfolio. We continue to invest in highly liquid, transparent, and readily valued securities while maintaining a focus on effective risk management and a disciplined investment process."
Informational and educational content only. Not investment advice.