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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and PubMatic, Inc. (PUBM). Click either name above to swap in a different company.
PubMatic, Inc. is the larger business by last-quarter revenue ($62.6M vs $43.5M, roughly 1.4× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs -2.0%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs -3.6%).
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.
PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.
DX vs PUBM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $62.6M |
| Net Profit | — | $-12.5M |
| Gross Margin | — | 58.3% |
| Operating Margin | — | 17.3% |
| Net Margin | — | -20.0% |
| Revenue YoY | 531.3% | -2.0% |
| Net Profit YoY | — | -31.9% |
| EPS (diluted) | $1.59 | $-0.27 |
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.
| Q1 26 | — | $62.6M | ||
| Q4 25 | $43.5M | $80.0M | ||
| Q3 25 | $30.6M | $68.0M | ||
| Q2 25 | $23.1M | $71.1M | ||
| Q1 25 | $17.1M | $63.8M | ||
| Q4 24 | — | $85.5M | ||
| Q3 24 | — | $71.8M | ||
| Q2 24 | — | $67.3M |
| Q1 26 | — | $-12.5M | ||
| Q4 25 | — | — | ||
| Q3 25 | $150.4M | $-6.5M | ||
| Q2 25 | $-13.6M | $-5.2M | ||
| Q1 25 | $-3.1M | $-9.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-912.0K | ||
| Q2 24 | — | $2.0M |
| Q1 26 | — | 58.3% | ||
| Q4 25 | — | 68.2% | ||
| Q3 25 | — | 62.6% | ||
| Q2 25 | — | 62.6% | ||
| Q1 25 | — | 59.9% | ||
| Q4 24 | — | 70.8% | ||
| Q3 24 | — | 64.5% | ||
| Q2 24 | — | 62.6% |
| Q1 26 | — | 17.3% | ||
| Q4 25 | — | 10.6% | ||
| Q3 25 | — | -12.4% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | — | -18.6% | ||
| Q4 24 | — | 17.3% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | -5.9% |
| Q1 26 | — | -20.0% | ||
| Q4 25 | — | — | ||
| Q3 25 | 491.3% | -9.5% | ||
| Q2 25 | -58.8% | -7.3% | ||
| Q1 25 | -18.0% | -14.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -1.3% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | $-0.27 | ||
| Q4 25 | $1.59 | $0.14 | ||
| Q3 25 | $1.08 | $-0.14 | ||
| Q2 25 | $-0.14 | $-0.11 | ||
| Q1 25 | $-0.06 | $-0.20 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $-0.02 | ||
| Q2 24 | — | $0.04 |
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 | $144.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $251.0M |
| Total Assets | $17.3B | $659.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $144.9M | ||
| Q4 25 | $531.0M | $145.5M | ||
| Q3 25 | $491.0M | $136.5M | ||
| Q2 25 | $387.5M | $90.5M | ||
| Q1 25 | $327.4M | $101.8M | ||
| Q4 24 | — | $100.5M | ||
| Q3 24 | — | $78.9M | ||
| Q2 24 | — | $73.5M |
| Q1 26 | — | $251.0M | ||
| Q4 25 | $2.5B | $262.6M | ||
| Q3 25 | $2.0B | $245.1M | ||
| Q2 25 | $1.6B | $243.3M | ||
| Q1 25 | $1.4B | $275.6M | ||
| Q4 24 | — | $277.3M | ||
| Q3 24 | — | $263.2M | ||
| Q2 24 | — | $282.7M |
| Q1 26 | — | $659.4M | ||
| Q4 25 | $17.3B | $680.2M | ||
| Q3 25 | $14.2B | $676.2M | ||
| Q2 25 | $11.3B | $675.2M | ||
| Q1 25 | $9.0B | $668.6M | ||
| Q4 24 | — | $739.5M | ||
| Q3 24 | — | $689.1M | ||
| Q2 24 | — | $673.1M |
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 | $17.3M |
| Free Cash FlowOCF − Capex | — | $10.7M |
| FCF MarginFCF / Revenue | — | 17.1% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.3M | ||
| Q4 25 | $120.8M | $18.2M | ||
| Q3 25 | $68.3M | $32.4M | ||
| Q2 25 | $31.9M | $14.9M | ||
| Q1 25 | $6.4M | $15.6M | ||
| Q4 24 | — | $18.0M | ||
| Q3 24 | — | $19.1M | ||
| Q2 24 | — | $11.9M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | — | $11.3M | ||
| Q3 25 | — | $27.7M | ||
| Q2 25 | — | $13.6M | ||
| Q1 25 | — | $14.2M | ||
| Q4 24 | — | $13.7M | ||
| Q3 24 | — | $7.4M | ||
| Q2 24 | — | $11.2M |
| Q1 26 | — | 17.1% | ||
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 40.8% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 22.2% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 16.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.6% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | — | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
