AGNC Investment Corp. (AGNC) vs Dynex Capital, Inc. (DX)

AGNC Investment Corp. and Dynex Capital, Inc. are both Reit Mortgage companies. AGNC Investment Corp. is the larger, with a market value of $11.2B against $2.8B — 4.0× the size. Dynex Capital, Inc. trades at the lower P/E: 47.2× against 441×. Dynex Capital, Inc. grew revenue faster over the last twelve months: 140.4% against 22.4%. AGNC Investment Corp. has the higher net margin (−1.81% vs −5.66%) and the lower return on invested capital (0.06% vs 2.47%). Both pay a dividend; Dynex Capital, Inc. yields more (19.0% vs 16.3%). Across the 23 metrics below, Dynex Capital, Inc. leads on 16 and AGNC Investment Corp. on 7.

Valuation

Metric AGNC DX Reit Mortgage median
P/E 441.00 47.21 14.55
P/S 2.52 2.53 1.72
P/B 1.10 0.96 0.52
Price to free cash flow 9.31 10.84 4.35
EV/EBITDA 483.00 24.61 28.27
EV/Sales 25.16 23.45 15.73
Earnings yield 0.23% 2.12% 0.23%
Free cash flow yield 10.74% 9.22% 13.86%

Profitability

Metric AGNC DX Reit Mortgage median
Gross margin 29.31% 100.00% 100.00%
Operating margin 2.45% 93.76% 31.94%
Net margin (1.81%) (5.66%) (1.81%)
Free cash flow margin 27.05% 23.35% 27.05%
Return on equity (0.80%) (2.59%) (0.49%)
Return on assets (0.06%) (0.29%) (0.06%)
Return on invested capital 0.06% 2.47% 0.79%

Growth

Metric AGNC DX Reit Mortgage median
Revenue growth (TTM) 22.39% 140.39% 1.39%
EPS growth (last fiscal year) 58.06% 65.77% 45.25%
Revenue growth, 5-year CAGR 18.32% 40.78% 14.60%
Net income growth, 5-year CAGR 0.00% 14.06% 0.00%

Health

Metric AGNC DX Reit Mortgage median
Debt to equity 8.42 7.93 2.91
Current ratio 0.27 1.15 0.82
Net debt to EBITDA 45.27 25.53 18.31

Dividend

Metric AGNC DX Reit Mortgage median
Dividend yield 16.33% 18.98% 17.37%
Payout ratio 144.00 9.37 1.87

Size

Metric AGNC DX Reit Mortgage median
Market cap 11.23b 2.79b 409.49m

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