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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and Ellington Financial Inc. (EFC). Click either name above to swap in a different company.
Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $43.5M, roughly 1.8× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 8.7%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 1.8%).
Dynex Capital Inc. is a publicly traded real estate investment trust headquartered in the United States. It specializes in investing in and managing a diversified portfolio of mortgage-backed securities, residential and commercial mortgage loans, and other mortgage-related assets. It delivers consistent returns to shareholders via regular dividends and long-term capital growth.
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
DX vs EFC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $78.2M |
| Net Profit | — | $22.6M |
| Gross Margin | — | — |
| Operating Margin | — | 7.4% |
| Net Margin | — | 28.9% |
| Revenue YoY | 531.3% | 8.7% |
| Net Profit YoY | — | -26.2% |
| EPS (diluted) | $1.59 | $0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.5M | $78.2M | ||
| Q3 25 | $30.6M | $82.8M | ||
| Q2 25 | $23.1M | $92.5M | ||
| Q1 25 | $17.1M | $82.9M | ||
| Q4 24 | — | $72.0M | ||
| Q3 24 | — | $67.0M | ||
| Q2 24 | — | $91.2M | ||
| Q1 24 | $-3.2M | $75.5M |
| Q4 25 | — | $22.6M | ||
| Q3 25 | $150.4M | $29.5M | ||
| Q2 25 | $-13.6M | $42.9M | ||
| Q1 25 | $-3.1M | $31.6M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | $16.2M | ||
| Q2 24 | — | $52.3M | ||
| Q1 24 | $40.1M | $26.9M |
| Q4 25 | — | 7.4% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 28.0% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 52.8% | ||
| Q1 24 | — | 42.2% |
| Q4 25 | — | 28.9% | ||
| Q3 25 | 491.3% | 35.7% | ||
| Q2 25 | -58.8% | 46.4% | ||
| Q1 25 | -18.0% | 38.2% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 24.1% | ||
| Q2 24 | — | 57.4% | ||
| Q1 24 | -1256.8% | 35.6% |
| Q4 25 | $1.59 | $0.10 | ||
| Q3 25 | $1.08 | $0.29 | ||
| Q2 25 | $-0.14 | $0.45 | ||
| Q1 25 | $-0.06 | $0.35 | ||
| Q4 24 | — | $0.23 | ||
| Q3 24 | — | $0.19 | ||
| Q2 24 | — | $0.62 | ||
| Q1 24 | $0.64 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $531.0M | $201.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $1.8B |
| Total Assets | $17.3B | $19.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.0M | $201.9M | ||
| Q3 25 | $491.0M | $184.8M | ||
| Q2 25 | $387.5M | $211.0M | ||
| Q1 25 | $327.4M | $203.3M | ||
| Q4 24 | — | $192.4M | ||
| Q3 24 | — | $217.7M | ||
| Q2 24 | — | $198.5M | ||
| Q1 24 | $295.7M | $187.5M |
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $1.6B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $958.5M | $1.5B |
| Q4 25 | $17.3B | $19.4B | ||
| Q3 25 | $14.2B | $17.8B | ||
| Q2 25 | $11.3B | $17.1B | ||
| Q1 25 | $9.0B | $16.6B | ||
| Q4 24 | — | $16.3B | ||
| Q3 24 | — | $16.0B | ||
| Q2 24 | — | $15.1B | ||
| Q1 24 | $6.3B | $15.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $120.8M | $-925.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | -40.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.8M | $-925.5M | ||
| Q3 25 | $68.3M | $-290.4M | ||
| Q2 25 | $31.9M | $-210.5M | ||
| Q1 25 | $6.4M | $-126.4M | ||
| Q4 24 | — | $-430.5M | ||
| Q3 24 | — | $-141.7M | ||
| Q2 24 | — | $-88.6M | ||
| Q1 24 | $-17.1M | $-59.5M |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | -40.92× | ||
| Q3 25 | 0.45× | -9.84× | ||
| Q2 25 | — | -4.90× | ||
| Q1 25 | — | -3.99× | ||
| Q4 24 | — | -14.04× | ||
| Q3 24 | — | -8.76× | ||
| Q2 24 | — | -1.69× | ||
| Q1 24 | -0.43× | -2.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
