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Ambac Financial Group (AMBC) Financials

Ambac Financial Group logo
$6.93 -1.36 (-16.36%)
Closing price 03:59 PM Eastern
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$6.94 +0.01 (+0.16%)
As of 05:02 PM Eastern
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Annual Income Statements for Ambac Financial Group

Annual Income Statements for Ambac Financial Group

This table shows Ambac Financial Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -17 522 3.63 -556
Consolidated Net Income / (Loss)		 -16 -35 -23 -615
Net Income / (Loss) Continuing Operations		 -17 -50 -23 -119
Total Pre-Tax Income 		2.00 -36 -24 -60
Total Revenue		 95 19 125 462
Net Interest Income / (Expense)		 -187 0.00 0.00 -9.38
Total Interest Income		 0.00 0.00 0.00 0.00
Investment Securities Interest Income		 0.00 0.00 0.00 0.00
Total Interest Expense		 187 0.00 0.00 9.38
Long-Term Debt Interest Expense		 187 0.00 0.00 9.38
Total Non-Interest Income		 282 19 125 471
Other Service Charges		 27 31 60 119
Net Realized & Unrealized Capital Gains on Investments		 201 -8.33 13 17
Premiums Earned		 47 14 52 99
Other Non-Interest Income		 7.00 - - 236
Total Non-Interest Expense		 94 71 149 582
Salaries and Employee Benefits		 15 - 29 41
Property & Liability Insurance Claims		 -88 9.07 37 73
Current and Future Benefits		 - - - 296
Other Operating Expenses		 111 56 67 129
Depreciation Expense		 - - 1.08 2.35
Amortization Expense		 56 5.46 15 41
Income Tax Expense		 18 -0.46 -0.99 -0.92
Net Income / (Loss) Discontinued Operations		 - - 28 -497
Net Income / (Loss) Attributable to Noncontrolling Interest		 -1.00 0.87 1.32 0.36
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 - - - 497
Basic Earnings per Share		 ($0.61) $11.48 $0.18 ($10.84)
Weighted Average Basic Shares Outstanding		 46.54M 45.72M 45.64M 46.97M
Diluted Earnings per Share		 ($0.61) $11.48 $0.18 ($10.84)
Weighted Average Diluted Shares Outstanding		 46.54M 45.72M 45.64M 46.97M
Weighted Average Basic & Diluted Shares Outstanding		 46.34M 45.29M 45.20M 46.24M

Quarterly Income Statements for Ambac Financial Group

This table shows Ambac Financial Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 9/30/2024
Net Income / (Loss) Attributable to Common Shareholders		 340 175 -33 -13 66 -16 -28
Consolidated Net Income / (Loss)		 340 -382 -33 -13 66 -43 -29
Net Income / (Loss) Continuing Operations		 340 -397 -37 -18 62 -30 -19
Total Pre-Tax Income 		342 -387 -29 -11 68 -52 -27
Total Revenue		 26 -113 29 35 45 16 96
Net Interest Income / (Expense)		 -49 138 -16 -16 -16 48 4.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 24
Investment Securities Interest Income		 - - - - - - 24
Total Interest Expense		 49 -138 16 16 16 -48 20
Long-Term Debt Interest Expense		 49 -138 16 16 16 -48 20
Total Non-Interest Income		 75 -251 45 51 61 -32 92
Trust Fees by Commissions		 -4.00 -4.64 -8.00 -6.00 -8.00 - -9.00
Other Service Charges		 7.00 9.27 14 10 15 21 23
Net Realized & Unrealized Capital Gains on Investments		 61 -229 25 32 36 -80 45
Premiums Earned		 11 -26 14 15 18 4.91 33
Total Non-Interest Expense		 -315 288 62 51 -18 54 112
Property & Liability Insurance Claims		 -353 350 18 7.00 -76 88 38
Other Operating Expenses		 31 -34 36 36 49 -54 55
Amortization Expense		 7.00 -29 8.00 8.00 9.00 -10 19
Income Tax Expense		 2.00 -3.46 4.00 2.00 1.00 -7.99 3.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.87 -1.00 0.00 0.00 2.32 2.00
Basic Earnings per Share		 $7.50 $3.83 ($0.73) ($0.29) $1.44 ($0.24) ($0.63)
Weighted Average Basic Shares Outstanding		 45.31M 45.72M 45.56M 45.76M 45.64M 45.64M 47.69M
Diluted Earnings per Share		 $7.41 $3.92 ($0.73) ($0.29) $1.41 ($0.21) ($0.63)
Weighted Average Diluted Shares Outstanding		 45.85M 45.72M 45.56M 45.76M 46.81M 45.64M 47.69M
Weighted Average Basic & Diluted Shares Outstanding		 44.97M 45.29M 45.32M 45.30M 45.19M 45.20M 47.44M

Annual Cash Flow Statements for Ambac Financial Group

This table details how cash moves in and out of Ambac Financial Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 263 -33 634 -255
Net Cash From Operating Activities		 -131 0.00 209 0.00
Net Cash From Continuing Operating Activities		 144 0.00 37 0.00
Net Income / (Loss) Continuing Operations		 -33 0.00 33 0.00
Net Cash From Investing Activities		 776 -18 435 -244
Net Cash From Continuing Investing Activities		 776 -18 -27 -244
Acquisitions		 - -18 - -244
Net Cash From Financing Activities		 -657 -14 -11 -12
Net Cash From Continuing Financing Activities		 -656 -14 -423 -12
Issuance of Common Equity		 - 0.00 0.00 0.00
Repurchase of Common Equity		 0.00 -14 -4.51 -12

Quarterly Cash Flow Statements for Ambac Financial Group

This table details how cash moves in and out of Ambac Financial Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024
Net Change in Cash & Equivalents		 -249 42 254 -296 283 393 6.00
Net Cash From Operating Activities		 48 -59 0.00 - 112 97 0.00
Net Cash From Continuing Operating Activities		 26 -64 0.00 - 1.00 36 0.00
Net Income / (Loss) Continuing Operations		 -8.00 - 0.00 - 40 -6.87 0.00
Net Cash From Investing Activities		 -5.00 -453 254 -296 563 -86 6.00
Net Cash From Continuing Investing Activities		 -171 -287 254 -296 575 -560 6.00
Acquisitions		 - -18 0.00 - - - 0.00
Other Investing Activities, net		 2.00 - 254 - - - 6.00
Net Cash From Financing Activities		 -45 465 0.00 - -392 381 0.00
Net Cash From Continuing Financing Activities		 -105 394 0.00 - -393 -30 0.00

Annual Balance Sheets for Ambac Financial Group

This table presents Ambac Financial Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 12,303 7,973 8,428 8,058
Restricted Cash		 5.00 58 31 65
Trading Account Securities		 5,915 1,481 136 157
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00
Unearned Premiums Asset		 413 508 321 512
Deferred Acquisition Cost		 0.00 3.00 11 8.57
Goodwill		 46 61 70 418
Intangible Assets		 362 326 61 345
Other Assets		 6,077 3,528 7,811 6,571
Total Liabilities & Shareholders' Equity		 12,303 7,973 8,428 8,058
Total Liabilities		 11,187 6,647 6,997 6,863
Short-Term Debt		 - - 0.00 150
Accrued Interest Payable		 576 427 0.00 2.56
Long-Term Debt		 6,286 3,427 0.00 0.00
Claims and Claim Expense		 1,570 805 197 349
Unearned Premiums Liability		 395 372 155 182
Other Long-Term Liabilities		 261 293 6,653 6,184
Redeemable Noncontrolling Interest		 18 20 17 141
Total Equity & Noncontrolling Interests		 1,098 1,305 1,415 1,055
Total Preferred & Common Equity		 1,038 1,252 1,362 857
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 1,038 1,253 1,362 857
Common Stock		 257 274 292 331
Retained Earnings		 726 1,245 1,246 742
Treasury Stock		 -3.00 -13 -17 -28
Accumulated Other Comprehensive Income / (Loss)		 58 -253 -160 -188
Noncontrolling Interest		 60 53 53 198

Quarterly Balance Sheets for Ambac Financial Group

This table presents Ambac Financial Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 9/30/2024
Total Assets		 9,412 8,219 8,132 11,823 13,518
Cash and Due from Banks		 29 - - 348 187
Restricted Cash		 6.00 314 319 269 63
Trading Account Securities		 8,207 1,954 1,979 9,618 10,132
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00
Unearned Premiums Asset		 361 402 469 483 584
Deferred Acquisition Cost		 - 4.00 4.00 8.00 13
Goodwill		 46 61 61 70 434
Intangible Assets		 318 321 317 312 598
Other Assets		 4,355 2,467 2,381 2,004 2,432
Total Liabilities & Shareholders' Equity		 9,412 8,219 8,132 7,847 9,256
Total Liabilities		 8,324 6,892 6,809 10,499 11,654
Short-Term Debt		 - - - - 148
Accrued Interest Payable		 576 438 450 462 515
Long-Term Debt		 2,201 497 501 3,204 3,514
Claims and Claim Expense		 1,009 851 863 850 1,261
Unearned Premiums Liability		 359 389 394 407 458
Other Long-Term Liabilities		 317 -59 23 1,324 1,795
Redeemable Noncontrolling Interest		 36 20 20 22 204
Total Equity & Noncontrolling Interests		 1,071 1,307 1,303 1,318 1,670
Total Preferred & Common Equity		 1,009 1,254 1,250 1,265 1,465
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,008 1,254 1,251 1,264 1,465
Common Stock		 270 278 283 286 328
Retained Earnings		 1,068 1,206 1,191 1,257 1,235
Treasury Stock		 -15 -13 -14 -17 -17
Accumulated Other Comprehensive Income / (Loss)		 -315 -217 -209 -262 -81
Noncontrolling Interest		 62 53 53 53 205

Annual Metrics And Ratios for Ambac Financial Group

This table displays calculated financial ratios and metrics derived from Ambac Financial Group's official financial filings.

Metric 2021 2022 2023 2024
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - -
Revenue Growth		 156.76% -79.83% 550.88% 270.15%
EBITDA Growth		 115.31% -202.63% 58.94% -303.81%
EBIT Growth		 100.30% -5,263.90% 53.13% -396.60%
NOPAT Growth		 94.81% -56.21% 32.17% -147.08%
Net Income Growth		 96.34% -120.28% 34.08% -2,547.25%
EPS Growth		 93.56% 1,981.97% -98.43% -6,122.22%
Operating Cash Flow Growth		 25.14% 100.00% 0.00% -100.00%
Free Cash Flow Firm Growth		 109.29% 231.73% 25.93% -98.66%
Invested Capital Growth		 -9.83% -35.79% -69.88% -6.02%
Revenue Q/Q Growth		 0.00% -81.02% -60.27% 0.00%
EBITDA Q/Q Growth		 0.00% -115.45% -107.77% 0.00%
EBIT Q/Q Growth		 0.00% -117.21% -112.81% 0.00%
NOPAT Q/Q Growth		 0.00% -107.51% -108.65% 0.00%
Net Income Q/Q Growth		 0.00% -111.15% -111.91% 0.00%
EPS Q/Q Growth		 0.00% 0.00% -95.65% 0.00%
Operating Cash Flow Q/Q Growth		 9.03% -100.00% -84.91% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 416.81% 0.00%
Invested Capital Q/Q Growth		 0.00% 44.51% -68.38% 0.00%
Profitability Metrics		 - - - -
EBITDA Margin		 47.37% -240.96% -15.20% -16.58%
EBIT Margin		 1.05% -269.43% -19.40% -26.03%
Profit (Net Income) Margin		 -16.84% -183.89% -18.62% -133.19%
Tax Burden Percent		 -800.00% 98.71% 95.92% 1,027.67%
Interest Burden Percent		 200.00% 69.15% 100.08% 49.79%
Effective Tax Rate		 900.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -0.21% -0.41% -0.55% -3.02%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.21% -0.62% -0.91% -767.17%
Return on Net Nonoperating Assets (RNNOA)		 -1.21% -2.48% -1.14% -43.80%
Return on Equity (ROE)		 -1.41% -2.89% -1.69% -46.82%
Cash Return on Invested Capital (CROIC)		 10.13% 43.18% 106.86% 3.19%
Operating Return on Assets (OROA)		 0.01% -0.51% -0.30% -1.46%
Return on Assets (ROA)		 -0.13% -0.35% -0.28% -7.46%
Return on Common Equity (ROCE)		 -1.32% -2.71% -1.60% -39.54%
Return on Equity Simple (ROE_SIMPLE)		 -1.54% -2.82% -1.71% -71.77%
Net Operating Profit after Tax (NOPAT)		 -16 -25 -17 -42
NOPAT Margin		 -16.84% -130.41% -13.59% -9.07%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.21% 0.37% 764.16%
SG&A Expenses to Revenue		 15.79% 0.00% 23.62% 8.85%
Operating Expenses to Revenue		 98.95% 369.43% 119.40% 126.03%
Earnings before Interest and Taxes (EBIT)		 1.00 -52 -24 -120
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 45 -46 -19 -77
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.72 0.63 0.55 0.70
Price to Tangible Book Value (P/TBV)		 1.18 0.91 0.61 6.39
Price to Revenue (P/Rev)		 7.82 40.92 5.97 1.30
Price to Earnings (P/E)		 0.00 1.50 205.07 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 66.57% 0.49% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.96 0.89 0.55 0.76
Enterprise Value to Revenue (EV/Rev)		 74.76 220.51 6.28 2.22
Enterprise Value to EBITDA (EV/EBITDA)		 157.83 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 7,102.18 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 3.74 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 8.98 1.61 0.24 23.12
Leverage & Solvency		 - - - -
Debt to Equity		 5.63 2.59 0.00 0.13
Long-Term Debt to Equity		 5.63 2.59 0.00 0.00
Financial Leverage		 5.90 3.98 1.24 0.06
Leverage Ratio		 11.28 8.31 5.95 6.28
Compound Leverage Factor		 22.56 5.74 5.95 3.12
Debt to Total Capital		 84.92% 72.12% 0.00% 11.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 11.15%
Long-Term Debt to Total Capital		 84.92% 72.12% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.05% 1.54% 4.89% 25.17%
Common Equity to Total Capital		 14.02% 26.36% 95.11% 63.69%
Debt to EBITDA		 139.69 -74.20 0.00 -1.96
Net Debt to EBITDA		 139.58 -72.95 0.00 -1.11
Long-Term Debt to EBITDA		 139.69 -74.20 0.00 0.00
Debt to NOPAT		 -392.88 -137.11 0.00 -3.58
Net Debt to NOPAT		 -392.56 -134.79 0.00 -2.03
Long-Term Debt to NOPAT		 -392.88 -137.11 0.00 0.00
Noncontrolling Interest Sharing Ratio		 6.45% 6.16% 5.16% 15.55%
Liquidity Ratios		 - - - -
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 791 2,624 3,304 44
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 4.23 0.00 0.00 4.72
Operating Cash Flow to Interest Expense		 -0.70 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -0.70 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.01 0.00 0.02 0.06
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 7,402 4,753 1,432 1,346
Invested Capital Turnover		 0.01 0.00 0.04 0.33
Increase / (Decrease) in Invested Capital		 -807 -2,649 -3,321 -86
Enterprise Value (EV)		 7,102 4,226 784 1,024
Market Capitalization		 743 784 745 600
Book Value per Share		 $22.42 $27.86 $30.13 $18.06
Tangible Book Value per Share		 $13.61 $19.25 $27.23 $1.98
Total Capital		 7,402 4,752 1,432 1,346
Total Debt		 6,286 3,427 0.00 150
Total Long-Term Debt		 6,286 3,427 0.00 0.00
Net Debt		 6,281 3,369 -31 85
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 10 6.28 573
Net Nonoperating Obligations (NNO)		 6,286 3,428 0.00 150
Total Depreciation and Amortization (D&A)		 44 5.46 5.24 44
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 ($0.61) $11.48 $0.18 ($10.84)
Adjusted Weighted Average Basic Shares Outstanding		 46.54M 45.72M 45.64M 46.97M
Adjusted Diluted Earnings per Share		 ($0.61) $11.31 $0.18 ($10.84)
Adjusted Weighted Average Diluted Shares Outstanding		 46.54M 46.41M 46.54M 46.97M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 46.34M 45.29M 45.20M 46.24M
Normalized Net Operating Profit after Tax (NOPAT)		 1.40 -25 -17 -42
Normalized NOPAT Margin		 1.47% -130.41% -13.59% -9.07%
Pre Tax Income Margin		 2.11% -186.30% -19.42% -12.96%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.01 0.00 0.00 -12.81
NOPAT to Interest Expense		 -0.09 0.00 0.00 -4.47
EBIT Less CapEx to Interest Expense		 0.01 0.00 0.00 -12.81
NOPAT Less CapEx to Interest Expense		 -0.09 0.00 0.00 -4.47
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -40.34% -19.41% -1.90%

Quarterly Metrics And Ratios for Ambac Financial Group

This table displays calculated financial ratios and metrics derived from Ambac Financial Group's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 9/30/2024
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% -263.98% -57.97% -5.41% 73.08% 113.96% 231.03%
EBITDA Growth		 814.71% -946.79% -292.31% -144.44% -76.85% 89.52% 112.00%
EBIT Growth		 1,211.54% -717.63% -1,750.00% -366.67% -81.52% 90.46% 51.52%
NOPAT Growth		 1,689.47% -2,048.37% -776.67% -254.00% -80.29% 86.50% 6.90%
Net Income Growth		 1,207.69% -1,133.05% -1,750.00% -360.00% -80.59% 88.69% 12.12%
EPS Growth		 0.00% 0.00% -1,925.00% -363.64% -80.97% -105.36% 13.70%
Operating Cash Flow Growth		 190.57% -1,280.00% -100.00% 0.00% 133.33% 265.10% 0.00%
Free Cash Flow Firm Growth		 -174.18% 0.00% 142.99% 140.05% 60.28% 38.11% -367.56%
Invested Capital Growth		 164,550.00% -35.79% -43.62% -40.24% 37.67% -69.88% 202.96%
Revenue Q/Q Growth		 -29.73% -533.98% -85.85% 20.69% 28.57% -65.01% 509.64%
EBITDA Q/Q Growth		 1,627.78% -238.00% -111.42% 68.00% 1,000.00% -162.45% 106.67%
EBIT Q/Q Growth		 5,583.33% -217.49% -118.86% 51.52% 493.75% -160.64% 58.12%
NOPAT Q/Q Growth		 6,700.00% -179.62% -111.60% 62.07% 970.13% -154.56% 48.30%
Net Income Q/Q Growth		 6,700.00% -212.42% -118.86% 60.61% 607.69% -165.50% 32.92%
EPS Q/Q Growth		 6,636.36% -47.10% -119.47% 60.27% 586.21% -114.89% -200.00%
Operating Cash Flow Q/Q Growth		 2,300.00% -222.92% -100.00% 0.00% 0.00% -13.03% -100.00%
Free Cash Flow Firm Q/Q Growth		 3.15% 180.59% -50.75% -12.25% -196.04% 380.27% -213.28%
Invested Capital Q/Q Growth		 7.77% 44.51% -61.62% 0.00% 148.25% -68.38% 285.98%
Profitability Metrics		 - - - - - - -
EBITDA Margin		 1,196.15% 0.00% -86.21% -22.86% 160.00% -285.53% 3.13%
EBIT Margin		 1,311.54% 0.00% -113.79% -45.71% 140.00% -242.60% -16.67%
Profit (Net Income) Margin		 1,307.69% 0.00% -113.79% -37.14% 146.67% -274.54% -30.21%
Tax Burden Percent		 99.42% 98.85% 113.79% 118.18% 97.06% 82.79% 107.41%
Interest Burden Percent		 100.29% 96.52% 87.88% 68.75% 107.94% 136.70% 168.75%
Effective Tax Rate		 0.58% 0.00% 0.00% 0.00% 1.47% 0.00% 0.00%
Return on Invested Capital (ROIC)		 80.36% 0.00% -8.22% -2.66% 0.00% -9.36% -1.03%
ROIC Less NNEP Spread (ROIC-NNEP)		 80.36% 0.00% -9.14% -3.06% 0.00% -9.75% -1.51%
Return on Net Nonoperating Assets (RNNOA)		 158.26% 0.00% -10.96% -3.71% 0.00% -12.13% -1.96%
Return on Equity (ROE)		 238.62% 0.00% -19.17% -6.37% -29.61% -21.49% -2.99%
Cash Return on Invested Capital (CROIC)		 0.00% 43.18% 75.03% 69.61% -38.12% 106.86% -101.16%
Operating Return on Assets (OROA)		 28.15% 0.00% -3.42% -1.48% 0.00% -3.69% -0.29%
Return on Assets (ROA)		 28.07% 0.00% -3.42% -1.20% 0.00% -4.18% -0.53%
Return on Common Equity (ROCE)		 217.28% 0.00% -18.06% -5.87% -27.49% -20.38% -2.54%
Return on Equity Simple (ROE_SIMPLE)		 31.32% 0.00% 38.84% 37.52% -28.64% 0.00% -1.31%
Net Operating Profit after Tax (NOPAT)		 340 -271 -20 -7.70 67 -37 -19
NOPAT Margin		 1,307.69% 0.00% -70.00% -22.00% 148.89% -232.14% -19.69%
Net Nonoperating Expense Percent (NNEP)		 0.00% 2.30% 0.92% 0.40% 0.04% 0.39% 0.49%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 -1,211.54% 0.00% 213.79% 145.71% -40.00% 342.60% 116.67%
Earnings before Interest and Taxes (EBIT)		 341 -401 -33 -16 63 -38 -16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 311 -429 -25 -8.00 72 -45 3.00
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.57 0.63 0.56 0.52 0.43 0.55 0.36
Price to Tangible Book Value (P/TBV)		 0.89 0.91 0.80 0.74 0.62 0.61 1.23
Price to Revenue (P/Rev)		 5.68 40.92 2.36 2.19 0.00 5.97 2.77
Price to Earnings (P/E)		 1.81 1.50 1.44 1.38 2.80 205.07 61.61
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 55.12% 66.57% 69.47% 72.67% 35.71% 0.49% 1.62%
Enterprise Value to Invested Capital (EV/IC)		 0.86 0.89 0.52 0.49 0.71 0.55 0.79
Enterprise Value to Revenue (EV/Rev)		 28.09 220.51 3.22 3.05 0.00 6.28 22.70
Enterprise Value to EBITDA (EV/EBITDA)		 9.49 0.00 1.80 1.78 0.00 0.00 235.20
Enterprise Value to EBIT (EV/EBIT)		 9.46 0.00 1.96 1.93 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 8.52 0.00 1.97 1.92 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 44.33 0.00 0.72 0.68 2.31 3.74 21.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 1.61 0.50 0.53 0.00 0.24 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 1.99 2.59 0.37 0.38 2.39 0.00 1.95
Long-Term Debt to Equity		 1.99 2.59 0.37 0.38 2.39 0.00 1.88
Financial Leverage		 1.97 3.98 1.20 1.21 2.19 1.24 1.30
Leverage Ratio		 8.50 8.31 8.58 8.25 8.68 5.95 6.79
Compound Leverage Factor		 8.53 8.02 7.54 5.67 9.37 8.13 11.46
Debt to Total Capital		 66.54% 72.12% 27.25% 27.47% 70.51% 0.00% 66.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.67%
Long-Term Debt to Total Capital		 66.54% 72.12% 27.25% 27.47% 70.51% 0.00% 63.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 2.96% 1.54% 4.00% 4.00% 1.65% 4.89% 7.39%
Common Equity to Total Capital		 30.47% 26.36% 68.77% 68.61% 27.82% 95.11% 26.46%
Debt to EBITDA		 7.36 -74.20 0.93 0.99 -9.66 0.00 197.87
Net Debt to EBITDA		 7.24 -72.95 0.34 0.36 -7.80 0.00 184.36
Long-Term Debt to EBITDA		 7.36 -74.20 0.93 0.99 -9.66 0.00 189.87
Debt to NOPAT		 6.61 -137.11 1.02 1.07 -12.76 0.00 -235.43
Net Debt to NOPAT		 6.50 -134.79 0.38 0.39 -10.30 0.00 -219.35
Long-Term Debt to NOPAT		 6.61 -137.11 1.02 1.07 -12.76 0.00 -225.91
Noncontrolling Interest Sharing Ratio		 8.94% 0.00% 5.81% 7.74% 7.15% 5.16% 15.05%
Liquidity Ratios		 - - - - - - -
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2,951 2,378 1,391 1,220 -1,172 3,285 -3,721
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -60.22 0.00 86.92 76.27 -73.25 0.00 -186.05
Operating Cash Flow to Interest Expense		 0.98 0.00 0.00 0.00 7.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.98 0.00 0.00 0.00 7.00 0.00 0.00
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.02 0.00 0.03 0.03 0.00 0.02 0.02
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 3,289 4,753 1,824 1,824 4,528 1,432 5,526
Invested Capital Turnover		 0.06 0.00 0.12 0.12 0.00 0.04 0.05
Increase / (Decrease) in Invested Capital		 3,291 -2,649 -1,411 -1,228 1,239 -3,321 3,702
Enterprise Value (EV)		 2,837 4,226 957 900 3,208 784 4,353
Market Capitalization		 573 784 701 645 546 745 532
Book Value per Share		 $22.42 $27.86 $27.70 $27.61 $27.90 $30.13 $30.88
Tangible Book Value per Share		 $14.32 $19.25 $19.26 $19.27 $19.47 $27.23 $9.13
Total Capital		 3,308 4,752 1,824 1,824 4,544 1,432 5,536
Total Debt		 2,201 3,427 497 501 3,204 0.00 3,662
Total Long-Term Debt		 2,201 3,427 497 501 3,204 0.00 3,514
Net Debt		 2,166 3,369 183 182 2,587 -31 3,412
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 112 13 5.30 1.00 6.68 10
Net Nonoperating Obligations (NNO)		 2,182 3,428 497 501 3,188 0.00 3,652
Total Depreciation and Amortization (D&A)		 -30 -29 8.00 8.00 9.00 -6.76 19
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $3.83 $0.00 ($0.29) $1.44 ($0.24) ($0.63)
Adjusted Weighted Average Basic Shares Outstanding		 45.31M 45.72M 45.56M 45.76M 45.64M 45.64M 47.69M
Adjusted Diluted Earnings per Share		 $0.00 $3.92 $0.00 ($0.29) $1.41 ($0.21) ($0.63)
Adjusted Weighted Average Diluted Shares Outstanding		 45.85M 45.72M 45.56M 45.76M 46.81M 45.64M 47.69M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 44.97M 45.29M 45.32M 45.30M 45.19M 45.20M 47.44M
Normalized Net Operating Profit after Tax (NOPAT)		 340 -271 -20 -7.70 67 -37 -19
Normalized NOPAT Margin		 1,307.69% 0.00% -70.00% -22.00% 148.89% -232.14% -19.69%
Pre Tax Income Margin		 1,315.38% 0.00% -100.00% -31.43% 151.11% -331.63% -28.13%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 6.96 0.00 -2.06 -1.00 3.94 0.00 -0.80
NOPAT to Interest Expense		 6.94 0.00 -1.27 -0.48 4.19 0.00 -0.95
EBIT Less CapEx to Interest Expense		 6.96 0.00 -2.06 -1.00 3.94 0.00 -0.80
NOPAT Less CapEx to Interest Expense		 6.94 0.00 -1.27 -0.48 4.19 0.00 -0.95
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -40.34% 0.00% 0.00% 0.00% -19.41% 0.00%

Key Financial Trends

Ambac Financial Group (NYSE: AMBC) has exhibited volatile financial performance over the past several quarters, with noticeable swings in income, expenses, and cash flow that retail investors should consider.

Positive Aspects:

  • In Q1 2024, Ambac reported $45 million in net realized and unrealized capital gains on investments, which substantially bolstered its non-interest income.
  • Total non-interest income was strong in Q1 2024 at $92 million, driven by premiums earned ($33 million) and other service charges ($23 million), supporting total revenue of $96 million.
  • Net interest income remained positive in Q1 2024 at $4 million, after deducting $20 million interest expense on long-term debt, indicating manageable financing costs relative to income.
  • The company's cash and cash equivalents increased by $6 million in Q1 2024, indicating some liquidity improvement.
  • Total assets increased from approximately $11.8 billion in Q3 2023 to $13.5 billion by Q1 2024, showing balance sheet growth.
  • Net income attributable to common shareholders returned to losses of $28 million in Q1 2024 after deeper losses in previous quarters, suggesting some moderation in profitability pressures.

Neutral Factors:

  • Amortization expense remains high at $19 million in Q1 2024, consistent with prior quarters, which continues to pressure net income.
  • The company's equity base stayed relatively stable, with total equity and noncontrolling interests around $1.67 billion as of Q1 2024.
  • Long-term debt increased modestly from $3.2 billion in Q3 2023 to $3.51 billion in Q1 2024, indicating ongoing leverage usage.

Negative Aspects:

  • Ambac continues to report net losses, with a consolidated net loss of $29 million in Q1 2024 and $43 million in Q4 2023, demonstrating ongoing profitability challenges.
  • Total non-interest expense exceeded non-interest income by a wide margin in Q1 2024, with $112 million in expenses compared to $92 million income, contributing to a pre-tax loss of $27 million.
  • Property and liability insurance claims are substantial, rising to $38 million in Q1 2024 and reaching $87 million in Q4 2023, adding to expense volatility and earnings pressure.
  • The company recorded negative premiums earned and large unrealized capital losses in Q4 2022 and Q4 2023, respectively, heavily impacting revenue and causing significant quarterly fluctuations.
  • Net cash from operating activities was nil in Q1 2024, a decline from positive operating cash flow in prior quarters, raising concerns about cash-generating operations.
  • Accumulated other comprehensive loss widened to $81 million negative in Q1 2024, reflecting potential risks from market fluctuations and other comprehensive income volatility.

Overall, Ambac Financial Group's recent performance portrays a company still recovering from past investment losses and claim expenses. While there are clear signs of revenue generation and asset growth, persistent net losses, high operating expenses, and volatile investment income remain challenges. Retail investors should monitor future quarters for sustainable profitability improvements and stable cash flow trends before considering significant investment.

08/08/25 04:29 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Ambac Financial Group's Financials

When does Ambac Financial Group's financial year end?

According to the most recent income statement we have on file, Ambac Financial Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ambac Financial Group's net income changed over the last 3 years?

Ambac Financial Group's net income appears to be on an upward trend, with a most recent value of -$615.01 million in 2024, rising from -$16 million in 2021. The previous period was -$23.23 million in 2023. See where experts think Ambac Financial Group is headed by visiting Ambac Financial Group's forecast page.

How has Ambac Financial Group's revenue changed over the last 3 years?

Over the last 3 years, Ambac Financial Group's total revenue changed from $95 million in 2021 to $461.75 million in 2024, a change of 386.1%.

How much debt does Ambac Financial Group have?

Ambac Financial Group's total liabilities were at $6.86 billion at the end of 2024, a 1.9% decrease from 2023, and a 38.7% decrease since 2021.

How has Ambac Financial Group's book value per share changed over the last 3 years?

Over the last 3 years, Ambac Financial Group's book value per share changed from 22.42 in 2021 to 18.06 in 2024, a change of -19.4%.


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This page (NYSE:AMBC) was last updated on 8/8/2025 by MarketBeat.com Staff
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