DX EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
DX's ev/ebitda is higher than 95% of the last 10 years.
EV/EBITDA History
DX EV/EBITDA by year
Yearly range of DX’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 0.5 to 39.9, averaging 13.2.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 20.2 | 27.3 | 32.5 | 32.2 |
| 2025 | 1.8 | 11.2 | 23.3 | 20.6 |
| 2024 | 1.2 | 2.0 | 16.9 | 16.9 |
| 2023 | 5.0 | 22.5 | 37.7 | 30.2 |
| 2022 | 12.7 | 23.8 | 29.0 | 24.7 |
| 2021 | 0.5 | 10.5 | 28.7 | 28.7 |
| 2020 | 0.6 | 14.4 | 17.8 | 0.6 |
| 2019 | 4.9 | 5.1 | 5.2 | 5.1 |
| 2018 | 1.6 | 4.2 | 10.0 | 4.7 |
| 2017 | 2.8 | 3.1 | 3.4 | 2.9 |
| 2016 | 36.8 | 38.1 | 39.9 | 37.8 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is DX EV/EBITDA High or Low Right Now?
Dynex Capital, Inc.'s EV/EBITDA is currently 32.2, which is near historic high relative to its 10-year historical range. The 10-year median EV/EBITDA for DX is approximately 9.4. See all DX valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.