I think you mean 26.4.
Typically the ADC puts out either 12bit or 14bit data into the raw file. This is not converted to 16 bit until it reaches the raw processor. These numbers (12 or 14) are just the number of bits used to express the analogue values coming from the sensor.
The Tonal Range and Color Sensitivity values produced by DXOMark represent the
effective number of grey levels(Tonal Range) or Color values (Color Sensitivity) a camera can produce given the noise present in the signal (mainly shot noise). These values are just numbers but are expressed by the number of bits required to specify this number (log2 of the number).
See here.
In other words, even though you have say 14 bit data, you can't use every one of the possible values it can represent due to noise rendering two adjacent levels in-distinguishable.
Dave