Start with its own history
At 10.60×, DX is 43.3% above its 7-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · DXREIT - MortgageUpdated Nov 2, 2026
Dynex Capital, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
10.60×
43.3% abovethe 7-observation annual average
Share price10.595
÷Earnings per share1
Price and EPS in quote currency. Calculation details
Investors are paying 10.60 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 7.39×
3-year average7.03×2 positive annual observations
5-year average6.01×4 positive annual observations
10-year average7.39×7 positive annual observations
Peer median · TTM11.91×4 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 5.63× | -33.3% |
| Dec 31, 2024 | 8.43× | N/M |
| Dec 31, 2023 | N/M | N/M |
| Dec 31, 2022 | 3.99× | -33.7% |
| Dec 31, 2021 | 6.01× | +134.0% |
| Dec 31, 2020 | 2.57× | N/M |
| Dec 31, 2019 | N/M | N/M |
| Dec 31, 2018 | N/M | N/M |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 15.24× | +54.2% |
| Dec 31, 2016 | 9.88× | -78.2% |
| Dec 31, 2015 | 45.36× | +86.9% |
| Dec 31, 2014 | 24.26× | +233.6% |
| Dec 31, 2013 | 7.27× | +4.0% |
| Dec 31, 2012 | 6.99× | -21.1% |
| Dec 31, 2011 | 8.86× | +21.8% |
| Dec 31, 2010 | 7.28× | -13.3% |
| Dec 31, 2009 | 8.39× | +16.8% |
| Dec 31, 2008 | 7.19× | -67.6% |
| Dec 31, 2007 | 22.18× | -78.1% |
| Dec 31, 2006 | 101.29× | +413.8% |
| Dec 31, 2005 | 19.71× | N/M |
| Dec 31, 2004 | N/M | N/M |
| Dec 31, 2003 | N/M | N/M |
| Dec 31, 2002 | N/M | N/M |
| Dec 31, 2001 | N/M | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How DX compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 DX This stockDynex Capital, Inc. | 10.60× |
 ABRArbor Realty Trust | N/M |
 ARRARMOUR Residential REIT, Inc. | N/M |
 FBRTFranklin BSP Realty Trust, Inc. | N/M |
 ADCAgree Realty Corporation | 34.87× |
 PMTPennyMac Mortgage Investment Trust | 16.80× |
 RCReady Capital Corporation | N/M |
 MFAMFA Financial, Inc. | 5.12× |
 EFCEllington Financial Inc. | 7.03× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does DX’s P/E tell you?
Compare like with like
The median of the 4 positive peer ratios above is 11.91×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take DX into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("DX", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 10.595 ÷ EPS 1 = 10.60×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
DX P/E ratio: common questions
The essentials behind the numbers.
Dynex Capital, Inc.'s current P/E is 10.60× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.