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Side-by-side financial comparison of DYNEX CAPITAL INC (DX) and Whitestone REIT (WSR). Click either name above to swap in a different company.
Whitestone REIT is the larger business by last-quarter revenue ($43.9M vs $43.5M, roughly 1.0× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 7.5%). Over the past eight quarters, DYNEX CAPITAL INC's revenue compounded faster (75.8% CAGR vs 8.7%).
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.
Whitestone REIT is a publicly traded real estate investment trust that acquires, owns, manages and redevelops open-air community shopping centers, primarily located in high-growth metropolitan areas across the southwestern and southeastern United States. Its property portfolio is largely anchored by daily necessity, service-focused retail tenants that cater to regular local consumer demand.
DX vs WSR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.5M | $43.9M |
| Net Profit | — | $22.8M |
| Gross Margin | — | — |
| Operating Margin | — | 53.0% |
| Net Margin | — | 52.0% |
| Revenue YoY | 531.3% | 7.5% |
| Net Profit YoY | — | 31.7% |
| EPS (diluted) | $1.59 | $0.43 |
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 | $43.9M | ||
| Q3 25 | $30.6M | $41.0M | ||
| Q2 25 | $23.1M | $37.9M | ||
| Q1 25 | $17.1M | $38.0M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $38.6M | ||
| Q2 24 | — | $37.6M | ||
| Q1 24 | $-3.2M | $37.2M |
| Q4 25 | — | $22.8M | ||
| Q3 25 | $150.4M | $18.3M | ||
| Q2 25 | $-13.6M | $5.1M | ||
| Q1 25 | $-3.1M | $3.7M | ||
| Q4 24 | — | $17.3M | ||
| Q3 24 | — | $7.6M | ||
| Q2 24 | — | $2.6M | ||
| Q1 24 | $40.1M | $9.3M |
| Q4 25 | — | 53.0% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 13.8% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 43.3% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | — | 7.2% | ||
| Q1 24 | — | 25.9% |
| Q4 25 | — | 52.0% | ||
| Q3 25 | 491.3% | 44.7% | ||
| Q2 25 | -58.8% | 13.3% | ||
| Q1 25 | -18.0% | 9.7% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | — | 19.7% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | -1256.8% | 25.1% |
| Q4 25 | $1.59 | $0.43 | ||
| Q3 25 | $1.08 | $0.35 | ||
| Q2 25 | $-0.14 | $0.10 | ||
| Q1 25 | $-0.06 | $0.07 | ||
| Q4 24 | — | $0.34 | ||
| Q3 24 | — | $0.15 | ||
| Q2 24 | — | $0.05 | ||
| Q1 24 | $0.64 | $0.18 |
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 | $4.9M |
| Total DebtLower is stronger | — | $649.4M |
| Stockholders' EquityBook value | $2.5B | $458.1M |
| Total Assets | $17.3B | $1.2B |
| Debt / EquityLower = less leverage | — | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.0M | $4.9M | ||
| Q3 25 | $491.0M | $6.8M | ||
| Q2 25 | $387.5M | $5.3M | ||
| Q1 25 | $327.4M | $5.6M | ||
| Q4 24 | — | $5.2M | ||
| Q3 24 | — | $2.5M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | $295.7M | $6.2M |
| Q4 25 | — | $649.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $632.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.5B | $458.1M | ||
| Q3 25 | $2.0B | $439.5M | ||
| Q2 25 | $1.6B | $427.5M | ||
| Q1 25 | $1.4B | $431.0M | ||
| Q4 24 | — | $438.2M | ||
| Q3 24 | — | $419.5M | ||
| Q2 24 | — | $418.3M | ||
| Q1 24 | $958.5M | $421.6M |
| Q4 25 | $17.3B | $1.2B | ||
| Q3 25 | $14.2B | $1.1B | ||
| Q2 25 | $11.3B | $1.2B | ||
| Q1 25 | $9.0B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $6.3B | $1.1B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.44× | ||
| 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 | $50.8M |
| Free Cash FlowOCF − Capex | — | $50.5M |
| FCF MarginFCF / Revenue | — | 114.9% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | 2.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.8M | $50.8M | ||
| Q3 25 | $68.3M | $18.0M | ||
| Q2 25 | $31.9M | $13.8M | ||
| Q1 25 | $6.4M | $3.1M | ||
| Q4 24 | — | $58.2M | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | — | $12.3M | ||
| Q1 24 | $-17.1M | $11.5M |
| Q4 25 | — | $50.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $58.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 114.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 142.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 2.22× | ||
| Q3 25 | 0.45× | 0.98× | ||
| Q2 25 | — | 2.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 3.36× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 4.73× | ||
| Q1 24 | -0.43× | 1.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
