Dynamic range is a measure of the camera's ability to capture a wide brightness range without losing detail in the brightest or darkest areas. It's measured in EV (exposure values, or 'stops'), and the higher the value the better.
We test dynamic range in laboratory conditions using DxO Analyzer hardware and software.
JPEG dynamic range analysis: Both Fuji models do comparatively poorly in this test, but it's something we've come to expect because Fuji's JPEG images tend to be tuned for strong mid-tone contrast.
Raw (converted to TIFF) dynamic range analysis: The X-E2S doesn't fare much better when shooting raw files, though. Even the tiny Olympus starts to creep ahead at ISO 800 and beyond. The X-E2S saving grace, though, is its expanded dynamic range mode (not tested) which is common to all Fuji cameras.