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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and SPRUCE POWER HOLDING CORP (SPRU). Click either name above to swap in a different company.
DYNEX CAPITAL INC is the larger business by last-quarter revenue ($43.5M vs $24.0M, roughly 1.8× SPRUCE POWER HOLDING CORP). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 20.4%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 14.6%).
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.
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
DX vs SPRU — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $24.0M |
| Net Profit | — | $-6.9M |
| Gross Margin | — | — |
| Operating Margin | — | 9.4% |
| Net Margin | — | -28.6% |
| Revenue YoY | 531.3% | 20.4% |
| Net Profit YoY | — | -15.8% |
| EPS (diluted) | $1.59 | $-0.38 |
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 | $24.0M | ||
| Q3 25 | $30.6M | $30.7M | ||
| Q2 25 | $23.1M | $33.2M | ||
| Q1 25 | $17.1M | $23.8M | ||
| Q4 24 | — | $20.0M | ||
| Q3 24 | — | $21.4M | ||
| Q2 24 | — | $22.5M | ||
| Q1 24 | $-3.2M | $18.3M |
| Q4 25 | — | $-6.9M | ||
| Q3 25 | $150.4M | $-860.0K | ||
| Q2 25 | $-13.6M | $-3.0M | ||
| Q1 25 | $-3.1M | $-15.3M | ||
| Q4 24 | — | $-5.9M | ||
| Q3 24 | — | $-53.5M | ||
| Q2 24 | — | $-8.6M | ||
| Q1 24 | $40.1M | $-2.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 54.8% | ||
| Q2 24 | — | 54.9% | ||
| Q1 24 | — | 51.5% |
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 27.6% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | — | -7.1% | ||
| Q4 24 | — | -31.4% | ||
| Q3 24 | — | -173.8% | ||
| Q2 24 | — | -14.9% | ||
| Q1 24 | — | -19.7% |
| Q4 25 | — | -28.6% | ||
| Q3 25 | 491.3% | -2.8% | ||
| Q2 25 | -58.8% | -8.9% | ||
| Q1 25 | -18.0% | -64.4% | ||
| Q4 24 | — | -29.7% | ||
| Q3 24 | — | -250.4% | ||
| Q2 24 | — | -38.2% | ||
| Q1 24 | -1256.8% | -13.4% |
| Q4 25 | $1.59 | $-0.38 | ||
| Q3 25 | $1.08 | $-0.05 | ||
| Q2 25 | $-0.14 | $-0.17 | ||
| Q1 25 | $-0.06 | $-0.84 | ||
| Q4 24 | — | $-0.36 | ||
| Q3 24 | — | $-2.88 | ||
| Q2 24 | — | $-0.45 | ||
| Q1 24 | $0.64 | $-0.13 |
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 | $54.8M |
| Total DebtLower is stronger | — | $695.5M |
| Stockholders' EquityBook value | $2.5B | $121.3M |
| Total Assets | $17.3B | $837.3M |
| Debt / EquityLower = less leverage | — | 5.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.0M | $54.8M | ||
| Q3 25 | $491.0M | $53.6M | ||
| Q2 25 | $387.5M | $53.5M | ||
| Q1 25 | $327.4M | $61.9M | ||
| Q4 24 | — | $72.8M | ||
| Q3 24 | — | $113.7M | ||
| Q2 24 | — | $116.6M | ||
| Q1 24 | $295.7M | $120.6M |
| Q4 25 | — | $695.5M | ||
| Q3 25 | — | $705.6M | ||
| Q2 25 | — | $717.1M | ||
| Q1 25 | — | $723.8M | ||
| Q4 24 | — | $730.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.5B | $121.3M | ||
| Q3 25 | $2.0B | $124.9M | ||
| Q2 25 | $1.6B | $125.0M | ||
| Q1 25 | $1.4B | $130.8M | ||
| Q4 24 | — | $143.7M | ||
| Q3 24 | — | $151.6M | ||
| Q2 24 | — | $204.6M | ||
| Q1 24 | $958.5M | $213.0M |
| Q4 25 | $17.3B | $837.3M | ||
| Q3 25 | $14.2B | $857.1M | ||
| Q2 25 | $11.3B | $862.6M | ||
| Q1 25 | $9.0B | $878.0M | ||
| Q4 24 | — | $898.5M | ||
| Q3 24 | — | $806.8M | ||
| Q2 24 | — | $858.4M | ||
| Q1 24 | $6.3B | $867.9M |
| Q4 25 | — | 5.74× | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 5.74× | ||
| Q1 25 | — | 5.53× | ||
| Q4 24 | — | 5.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-3.3M |
| Free Cash FlowOCF − Capex | — | $-3.3M |
| FCF MarginFCF / Revenue | — | -13.7% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-3.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.8M | $-3.3M | ||
| Q3 25 | $68.3M | $11.2M | ||
| Q2 25 | $31.9M | $-2.3M | ||
| Q1 25 | $6.4M | $-9.1M | ||
| Q4 24 | — | $-13.5M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-5.1M | ||
| Q1 24 | $-17.1M | $-22.2M |
| Q4 25 | — | $-3.3M | ||
| Q3 25 | — | $11.2M | ||
| Q2 25 | — | $-2.4M | ||
| Q1 25 | — | $-9.2M | ||
| Q4 24 | — | $-13.6M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-5.2M | ||
| Q1 24 | — | $-22.3M |
| Q4 25 | — | -13.7% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | -7.3% | ||
| Q1 25 | — | -38.7% | ||
| Q4 24 | — | -68.3% | ||
| Q3 24 | — | -5.1% | ||
| Q2 24 | — | -23.1% | ||
| Q1 24 | — | -121.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | — | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.43× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
