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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and TELOS CORP (TLS). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M 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 77.4%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 25.7%).
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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
DX vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $46.8M |
| Net Profit | — | $-16.3M |
| Gross Margin | — | 35.0% |
| Operating Margin | — | -39.6% |
| Net Margin | — | -34.9% |
| Revenue YoY | 531.3% | 77.4% |
| Net Profit YoY | — | -74.8% |
| EPS (diluted) | $1.59 | $-0.22 |
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 | $46.8M | ||
| Q3 25 | $30.6M | $51.4M | ||
| Q2 25 | $23.1M | $36.0M | ||
| Q1 25 | $17.1M | $30.6M | ||
| Q4 24 | — | $26.4M | ||
| Q3 24 | — | $23.8M | ||
| Q2 24 | — | $28.5M | ||
| Q1 24 | $-3.2M | $29.6M |
| Q4 25 | — | $-16.3M | ||
| Q3 25 | $150.4M | $-2.1M | ||
| Q2 25 | $-13.6M | $-9.5M | ||
| Q1 25 | $-3.1M | $-8.6M | ||
| Q4 24 | — | $-9.3M | ||
| Q3 24 | — | $-28.1M | ||
| Q2 24 | — | $-7.8M | ||
| Q1 24 | $40.1M | $-7.4M |
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 37.0% |
| Q4 25 | — | -39.6% | ||
| Q3 25 | — | -4.8% | ||
| Q2 25 | — | -27.5% | ||
| Q1 25 | — | -29.5% | ||
| Q4 24 | — | -37.6% | ||
| Q3 24 | — | -121.4% | ||
| Q2 24 | — | -30.3% | ||
| Q1 24 | — | -28.5% |
| Q4 25 | — | -34.9% | ||
| Q3 25 | 491.3% | -4.1% | ||
| Q2 25 | -58.8% | -26.5% | ||
| Q1 25 | -18.0% | -28.1% | ||
| Q4 24 | — | -35.4% | ||
| Q3 24 | — | -118.0% | ||
| Q2 24 | — | -27.2% | ||
| Q1 24 | -1256.8% | -24.9% |
| Q4 25 | $1.59 | $-0.22 | ||
| Q3 25 | $1.08 | $-0.03 | ||
| Q2 25 | $-0.14 | $-0.13 | ||
| Q1 25 | $-0.06 | $-0.12 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | — | $-0.39 | ||
| Q2 24 | — | $-0.11 | ||
| 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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $531.0M | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $96.0M |
| Total Assets | $17.3B | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.0M | $53.2M | ||
| Q3 25 | $491.0M | $59.0M | ||
| Q2 25 | $387.5M | $57.0M | ||
| Q1 25 | $327.4M | $57.8M | ||
| Q4 24 | — | $54.6M | ||
| Q3 24 | — | $69.8M | ||
| Q2 24 | — | $80.1M | ||
| Q1 24 | $295.7M | $93.9M |
| Q4 25 | $2.5B | $96.0M | ||
| Q3 25 | $2.0B | $119.7M | ||
| Q2 25 | $1.6B | $118.4M | ||
| Q1 25 | $1.4B | $126.1M | ||
| Q4 24 | — | $127.1M | ||
| Q3 24 | — | $129.5M | ||
| Q2 24 | — | $149.1M | ||
| Q1 24 | $958.5M | $154.4M |
| Q4 25 | $17.3B | $139.9M | ||
| Q3 25 | $14.2B | $164.3M | ||
| Q2 25 | $11.3B | $165.0M | ||
| Q1 25 | $9.0B | $158.1M | ||
| Q4 24 | — | $158.2M | ||
| Q3 24 | — | $166.3M | ||
| Q2 24 | — | $182.4M | ||
| Q1 24 | $6.3B | $195.4M |
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 | $8.0M |
| Free Cash FlowOCF − Capex | — | $8.0M |
| FCF MarginFCF / Revenue | — | 17.0% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.8M | $8.0M | ||
| Q3 25 | $68.3M | $9.1M | ||
| Q2 25 | $31.9M | $7.0M | ||
| Q1 25 | $6.4M | $6.1M | ||
| Q4 24 | — | $-10.5M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | $-17.1M | $-350.0K |
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | — | $-12.4M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | — | $-8.2M | ||
| Q1 24 | — | $-447.0K |
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | — | -47.0% | ||
| Q3 24 | — | -30.0% | ||
| Q2 24 | — | -28.9% | ||
| Q1 24 | — | -1.5% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.3% |
| 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.
Revenue Breakdown by Segment
DX
Segment breakdown not available.
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
