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STOCK COMPARISON

Dynex Capital vs Annaly Capital Management: Fair Value & Quality

Both stocks run through our valuation models. Here is how Dynex Capital (DX) and Annaly Capital Management (NLY) compare, as of Aug 10, 2026.

As of Aug 10, 2026, Fair Value Calculator sees Annaly Capital Management as the less overvalued of the two: Dynex Capital trades at $12.95 versus a fair value of $6.52 (-50%), while Annaly Capital Management trades at $23.04 versus $19.41 (-16%).
Dynex Capital
DX · USD · Financials
-50%
upside to fair value
overvalued
Price$12.95
Fair Value$6.52
Quality39/100
Annaly Capital Management
NLY · USD · Financials
-16%
upside to fair value
overvalued
Price$23.04
Fair Value$19.41
Quality24/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Dynex CapitalAnnaly Capital Management
Valuation
6.2×P/E (TTM)7.2×
9.24×P/S (TTM)6.51×
1.14×P/B1.01×
2.6×EV/EBITDA6.7×
0.71×PEG32.03×
15.6%Dividend yield12.6%
$2.04Dividend per share$2.80
Profitability
80%Net margin87%
136%Operating margin81%
12%Return on equity15%
1%Return on assets2%
Growth
235%Revenue growth (YoY)49%
—Avg. growth/yr (3Y)17.3%
18.1%Avg. growth/yr (5Y)35.2%
Balance & size
0.00×Debt / equity1.98×
$3BMarket cap$16B
mixedGrowth qualitymixed

Dynex Capital leads: 7 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Dynex Capitalof which business quality 38 · market factors 60 Annaly Capital Managementof which business quality 22 · market factors 62
ProfitabilityMargins and returns on capital today
37
38
Quality GrowthAre margins and returns improving?
68
59
CashflowEarnings quality: real cash, not paper profit
68
12
Fin. StrengthBalance sheet, leverage, solvency risk
18
5
InvestmentDisciplined investing over empire-building
33
27
Low VolatilityCalm price path (market factor)
80
66
MomentumPrice trend over the last 3–12 months (market factor)
45
51
52W MomentumDistance to the 52-week high (market factor)
62
76
Net IssuanceBuybacks instead of dilution
0
0

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Dynex Capital

DCF Models$11.39
Multiples$16.02
Asset-Based$7.67
Growth DCF$10.61
Economic Profit$12.84

9 of 14 models see the stock below the current price.

Annaly Capital Management

Dividend Discount$45.20
Multiples$42.08
Asset-Based$14.71
Economic Profit$24.39

2 of 8 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Dynex Capital
Bear $4.86Fair Value $6.52Bull $9.72
$12.95 = current price (white tick)
Annaly Capital Management
Bear $14.56Fair Value $19.41Bull $24.27
$23.04 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Dynex Capital · Financials

Quality score39 · bottom 25%
Fair value upside-50% · bottom 25%

Annaly Capital Management · Financials

Quality score24 · bottom 25%
Fair value upside-16% · below median

Bottom line

As of Aug 10, 2026, Fair Value Calculator sees Annaly Capital Management as the less overvalued of the two: Dynex Capital trades at $12.95 versus a fair value of $6.52 (-50%), while Annaly Capital Management trades at $23.04 versus $19.41 (-16%).

Dynex Capital has the higher quality score (39/100).

See the full analysis →
Dynex Capital · Annaly Capital Management

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.