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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.

IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $43.5M, roughly 1.1× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs -47.3%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs -20.2%).

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.

Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.

DX vs IRWD — Head-to-Head

Bigger by revenue
IRWD
IRWD
1.1× larger
IRWD
$47.7M
$43.5M
DX
Growing faster (revenue YoY)
DX
DX
+578.6% gap
DX
531.3%
-47.3%
IRWD
Faster 2-yr revenue CAGR
DX
DX
Annualised
DX
75.8%
-20.2%
IRWD

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
DX
DX
IRWD
IRWD
Revenue
$43.5M
$47.7M
Net Profit
$-2.3M
Gross Margin
Operating Margin
14.3%
Net Margin
-4.8%
Revenue YoY
531.3%
-47.3%
Net Profit YoY
-200.9%
EPS (diluted)
$1.59
$0.01

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.

Revenue
DX
DX
IRWD
IRWD
Q4 25
$43.5M
$47.7M
Q3 25
$30.6M
$122.1M
Q2 25
$23.1M
$85.2M
Q1 25
$17.1M
$41.1M
Q4 24
$90.5M
Q3 24
$91.6M
Q2 24
$94.4M
Q1 24
$-3.2M
$74.9M
Net Profit
DX
DX
IRWD
IRWD
Q4 25
$-2.3M
Q3 25
$150.4M
$40.1M
Q2 25
$-13.6M
$23.6M
Q1 25
$-3.1M
$-37.4M
Q4 24
$2.3M
Q3 24
$3.6M
Q2 24
$-860.0K
Q1 24
$40.1M
$-4.2M
Operating Margin
DX
DX
IRWD
IRWD
Q4 25
14.3%
Q3 25
61.8%
Q2 25
53.2%
Q1 25
-70.7%
Q4 24
34.8%
Q3 24
28.0%
Q2 24
26.5%
Q1 24
14.7%
Net Margin
DX
DX
IRWD
IRWD
Q4 25
-4.8%
Q3 25
491.3%
32.8%
Q2 25
-58.8%
27.7%
Q1 25
-18.0%
-90.9%
Q4 24
2.5%
Q3 24
4.0%
Q2 24
-0.9%
Q1 24
-1256.8%
-5.6%
EPS (diluted)
DX
DX
IRWD
IRWD
Q4 25
$1.59
$0.01
Q3 25
$1.08
$0.23
Q2 25
$-0.14
$0.14
Q1 25
$-0.06
$-0.23
Q4 24
$0.03
Q3 24
$0.02
Q2 24
$-0.01
Q1 24
$0.64
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DX
DX
IRWD
IRWD
Cash + ST InvestmentsLiquidity on hand
$531.0M
$215.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$2.5B
$-261.8M
Total Assets
$17.3B
$396.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DX
DX
IRWD
IRWD
Q4 25
$531.0M
$215.5M
Q3 25
$491.0M
$140.4M
Q2 25
$387.5M
$92.9M
Q1 25
$327.4M
$108.5M
Q4 24
$88.6M
Q3 24
$88.2M
Q2 24
$105.5M
Q1 24
$295.7M
$121.5M
Total Debt
DX
DX
IRWD
IRWD
Q4 25
Q3 25
$199.5M
Q2 25
$199.3M
Q1 25
$199.2M
Q4 24
$199.0M
Q3 24
$198.8M
Q2 24
$198.6M
Q1 24
$398.3M
Stockholders' Equity
DX
DX
IRWD
IRWD
Q4 25
$2.5B
$-261.8M
Q3 25
$2.0B
$-264.2M
Q2 25
$1.6B
$-308.2M
Q1 25
$1.4B
$-334.1M
Q4 24
$-301.3M
Q3 24
$-311.3M
Q2 24
$-321.7M
Q1 24
$958.5M
$-330.5M
Total Assets
DX
DX
IRWD
IRWD
Q4 25
$17.3B
$396.9M
Q3 25
$14.2B
$396.1M
Q2 25
$11.3B
$342.9M
Q1 25
$9.0B
$327.2M
Q4 24
$350.9M
Q3 24
$389.5M
Q2 24
$395.6M
Q1 24
$6.3B
$438.8M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DX
DX
IRWD
IRWD
Operating Cash FlowLast quarter
$120.8M
$74.6M
Free Cash FlowOCF − Capex
$74.6M
FCF MarginFCF / Revenue
156.3%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$127.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DX
DX
IRWD
IRWD
Q4 25
$120.8M
$74.6M
Q3 25
$68.3M
$47.6M
Q2 25
$31.9M
$-15.1M
Q1 25
$6.4M
$20.0M
Q4 24
$15.2M
Q3 24
$9.9M
Q2 24
$33.5M
Q1 24
$-17.1M
$45.0M
Free Cash Flow
DX
DX
IRWD
IRWD
Q4 25
$74.6M
Q3 25
$47.6M
Q2 25
$-15.1M
Q1 25
$19.9M
Q4 24
Q3 24
$9.9M
Q2 24
$33.4M
Q1 24
$44.9M
FCF Margin
DX
DX
IRWD
IRWD
Q4 25
156.3%
Q3 25
39.0%
Q2 25
-17.7%
Q1 25
48.4%
Q4 24
Q3 24
10.8%
Q2 24
35.4%
Q1 24
60.0%
Capex Intensity
DX
DX
IRWD
IRWD
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.0%
Q1 25
0.1%
Q4 24
0.0%
Q3 24
0.0%
Q2 24
0.1%
Q1 24
0.1%
Cash Conversion
DX
DX
IRWD
IRWD
Q4 25
Q3 25
0.45×
1.19×
Q2 25
-0.64×
Q1 25
Q4 24
6.74×
Q3 24
2.71×
Q2 24
Q1 24
-0.43×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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