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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.

PUMA BIOTECHNOLOGY, INC. is the larger business by last-quarter revenue ($75.5M vs $43.5M, roughly 1.7× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 27.7%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 31.3%).

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.

Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.

DX vs PBYI — Head-to-Head

Bigger by revenue
PBYI
PBYI
1.7× larger
PBYI
$75.5M
$43.5M
DX
Growing faster (revenue YoY)
DX
DX
+503.6% gap
DX
531.3%
27.7%
PBYI
Faster 2-yr revenue CAGR
DX
DX
Annualised
DX
75.8%
31.3%
PBYI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
DX
DX
PBYI
PBYI
Revenue
$43.5M
$75.5M
Net Profit
Gross Margin
69.3%
Operating Margin
22.7%
Net Margin
Revenue YoY
531.3%
27.7%
Net Profit YoY
EPS (diluted)
$1.59
$0.26

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
PBYI
PBYI
Q4 25
$43.5M
$75.5M
Q3 25
$30.6M
$54.5M
Q2 25
$23.1M
$52.4M
Q1 25
$17.1M
$46.0M
Q4 24
$59.1M
Q3 24
$80.5M
Q2 24
$47.1M
Q1 24
$-3.2M
$43.8M
Net Profit
DX
DX
PBYI
PBYI
Q4 25
Q3 25
$150.4M
$8.8M
Q2 25
$-13.6M
$5.9M
Q1 25
$-3.1M
$3.0M
Q4 24
Q3 24
$20.3M
Q2 24
$-4.5M
Q1 24
$40.1M
$-4.8M
Gross Margin
DX
DX
PBYI
PBYI
Q4 25
69.3%
Q3 25
77.7%
Q2 25
76.5%
Q1 25
77.1%
Q4 24
76.4%
Q3 24
63.9%
Q2 24
77.4%
Q1 24
75.5%
Operating Margin
DX
DX
PBYI
PBYI
Q4 25
22.7%
Q3 25
17.6%
Q2 25
12.7%
Q1 25
8.7%
Q4 24
22.6%
Q3 24
27.4%
Q2 24
-4.6%
Q1 24
-5.3%
Net Margin
DX
DX
PBYI
PBYI
Q4 25
Q3 25
491.3%
16.2%
Q2 25
-58.8%
11.2%
Q1 25
-18.0%
6.5%
Q4 24
Q3 24
25.2%
Q2 24
-9.6%
Q1 24
-1256.8%
-11.0%
EPS (diluted)
DX
DX
PBYI
PBYI
Q4 25
$1.59
$0.26
Q3 25
$1.08
$0.17
Q2 25
$-0.14
$0.12
Q1 25
$-0.06
$0.06
Q4 24
$0.40
Q3 24
$0.41
Q2 24
$-0.09
Q1 24
$0.64
$-0.10

Balance Sheet & Financial Strength

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

Metric
DX
DX
PBYI
PBYI
Cash + ST InvestmentsLiquidity on hand
$531.0M
$97.5M
Total DebtLower is stronger
$22.7M
Stockholders' EquityBook value
$2.5B
$130.3M
Total Assets
$17.3B
$216.3M
Debt / EquityLower = less leverage
0.17×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DX
DX
PBYI
PBYI
Q4 25
$531.0M
$97.5M
Q3 25
$491.0M
$94.4M
Q2 25
$387.5M
$96.0M
Q1 25
$327.4M
$93.2M
Q4 24
$101.0M
Q3 24
$96.7M
Q2 24
$96.8M
Q1 24
$295.7M
$107.2M
Total Debt
DX
DX
PBYI
PBYI
Q4 25
$22.7M
Q3 25
$34.0M
Q2 25
$45.3M
Q1 25
$56.7M
Q4 24
$68.0M
Q3 24
$79.3M
Q2 24
$90.7M
Q1 24
$102.0M
Stockholders' Equity
DX
DX
PBYI
PBYI
Q4 25
$2.5B
$130.3M
Q3 25
$2.0B
$115.3M
Q2 25
$1.6B
$104.7M
Q1 25
$1.4B
$97.1M
Q4 24
$92.1M
Q3 24
$71.1M
Q2 24
$48.5M
Q1 24
$958.5M
$51.0M
Total Assets
DX
DX
PBYI
PBYI
Q4 25
$17.3B
$216.3M
Q3 25
$14.2B
$202.9M
Q2 25
$11.3B
$194.9M
Q1 25
$9.0B
$196.2M
Q4 24
$213.3M
Q3 24
$220.7M
Q2 24
$205.0M
Q1 24
$6.3B
$214.1M
Debt / Equity
DX
DX
PBYI
PBYI
Q4 25
0.17×
Q3 25
0.30×
Q2 25
0.43×
Q1 25
0.58×
Q4 24
0.74×
Q3 24
1.12×
Q2 24
1.87×
Q1 24
2.00×

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
PBYI
PBYI
Operating Cash FlowLast quarter
$120.8M
$14.4M
Free Cash FlowOCF − Capex
$14.4M
FCF MarginFCF / Revenue
19.1%
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$41.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DX
DX
PBYI
PBYI
Q4 25
$120.8M
$14.4M
Q3 25
$68.3M
$9.7M
Q2 25
$31.9M
$14.1M
Q1 25
$6.4M
$3.6M
Q4 24
$15.6M
Q3 24
$11.0M
Q2 24
$1.0M
Q1 24
$-17.1M
$11.2M
Free Cash Flow
DX
DX
PBYI
PBYI
Q4 25
$14.4M
Q3 25
$9.7M
Q2 25
$14.1M
Q1 25
$3.6M
Q4 24
$15.6M
Q3 24
$11.0M
Q2 24
$1.0M
Q1 24
FCF Margin
DX
DX
PBYI
PBYI
Q4 25
19.1%
Q3 25
17.7%
Q2 25
26.8%
Q1 25
7.7%
Q4 24
26.4%
Q3 24
13.7%
Q2 24
2.1%
Q1 24
Capex Intensity
DX
DX
PBYI
PBYI
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
0.0%
Q1 24
0.0%
Cash Conversion
DX
DX
PBYI
PBYI
Q4 25
Q3 25
0.45×
1.10×
Q2 25
2.41×
Q1 25
1.21×
Q4 24
Q3 24
0.54×
Q2 24
Q1 24
-0.43×

Financial Flow Comparison

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

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