Loading...
•
Dec 31, 2025
Dynex Capital Q4 2025 Earnings Report
Dynex Capital reported solid fourth-quarter results driven by book value growth and increased capital deployment.
Key Takeaways
Dynex Capital delivered strong Q4 results with $183 million in net income, supported by asset appreciation and strategic capital raises. Book value increased significantly, and net interest income improved quarter over quarter.
Net income reached $183 million for the quarter.
Book value per share increased to $13.45.
Economic net interest income rose to $51.1 million.
Dynex raised $393 million in equity during the quarter.
Forward Guidance
Dynex enters 2026 in a strong position, emphasizing resilience, capital efficiency, and strategic leadership expansion.
Positive Outlook
- Raised $393M in equity capital during Q4 2025.
- Book value increased due to asset appreciation.
- Capitalized on lower financing costs following Fed rate cuts.
- Expanded executive leadership to support growth.
- Maintains over $1.4B in liquidity entering 2026.
Challenges Ahead
- Economic net interest spread remained below 1%.
- REIT taxable income impacted by hedge gain amortization.
- Heavy reliance on repurchase agreements with 4.10% financing cost.
- Drop in net periodic swap interest compared to prior quarter.
- Challenging rate environment may continue to pressure spreads.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...