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Angel Oak Mortgage REIT (AOMR) Financials

Angel Oak Mortgage REIT logo
$9.04 +0.02 (+0.17%)
As of 12:07 PM Eastern
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Annual Income Statements for Angel Oak Mortgage REIT

Annual Income Statements for Angel Oak Mortgage REIT

This table shows Angel Oak Mortgage REIT's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 0.72 21 -188 34 29 44
Consolidated Net Income / (Loss)		 0.74 21 -188 34 29 44
Net Income / (Loss) Continuing Operations		 0.74 21 -188 34 29 44
Total Pre-Tax Income 		0.74 23 -191 35 32 45
Total Operating Income		 -30 -24 -33 -20 -19 -16
Total Gross Profit		 -22 -11 0.00 0.00 0.00 0.00
Total Revenue		 -21 -4.93 0.00 0.00 0.00 0.00
Total Cost of Revenue		 1.68 6.06 0.00 0.00 0.00 0.00
Total Operating Expenses		 7.97 13 33 20 19 16
Other Operating Expenses / (Income)		 7.97 13 33 20 19 16
Total Other Income / (Expense), net		 31 47 -158 55 51 61
Interest Expense		 7.50 11 63 67 74 103
Interest & Investment Income		 41 61 116 96 110 144
Other Income / (Expense), net		 -2.14 -2.39 -210 26 15 20
Income Tax Expense		 0.00 1.60 -3.46 1.25 3.26 0.53
Basic Earnings per Share		 $0.05 $1.02 ($7.65) $1.36 $1.18 $1.85
Weighted Average Basic Shares Outstanding		 15.72M 20.60M 24.55M 24.72M 24.18M 23.68M
Diluted Earnings per Share		 $0.05 $1.01 ($7.65) $1.35 $1.17 $1.80
Weighted Average Diluted Shares Outstanding		 15.72M 20.85M 24.55M 24.94M 24.40M 24.31M
Weighted Average Basic & Diluted Shares Outstanding		 - 25.09M 24.93M 24.97M 23.50M 24.91M
Cash Dividends to Common per Share		 - - - $1.28 $1.28 $1.28

Quarterly Income Statements for Angel Oak Mortgage REIT

This table shows Angel Oak Mortgage REIT's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 8.27 29 13 -0.27 31 -15 21 0.77 11 11 -7.38
Consolidated Net Income / (Loss)		 8.27 29 13 -0.27 31 -15 21 0.77 11 11 -7.38
Net Income / (Loss) Continuing Operations		 8.27 29 13 -0.27 31 -15 21 0.77 11 11 -7.38
Total Pre-Tax Income 		8.27 29 13 -0.13 34 -15 21 0.77 12 12 -7.38
Total Operating Income		 -4.39 -4.33 -4.68 -5.48 -3.82 -5.46 -3.00 -5.10 -3.19 -5.16 -5.18
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 4.39 4.33 4.68 5.48 3.82 5.46 3.00 5.10 3.19 5.16 5.18
Other Operating Expenses / (Income)		 4.39 4.33 4.68 5.48 3.82 5.46 3.00 5.10 3.19 5.16 5.18
Total Other Income / (Expense), net		 13 33 18 5.35 38 -9.59 24 5.87 15 17 -2.20
Interest Expense		 16 16 17 16 18 22 23 25 26 28 29
Interest & Investment Income		 24 25 25 26 27 32 33 35 37 39 41
Other Income / (Expense), net		 5.26 25 9.26 -4.11 29 -19 13 -4.08 4.72 5.80 -14
Income Tax Expense		 0.00 0.47 0.29 0.14 2.83 - 0.00 0.00 0.31 0.22 0.00
Basic Earnings per Share		 $0.33 $1.16 $0.52 ($0.01) $1.31 ($0.64) $0.88 $0.03 $0.49 $0.45 ($0.30)
Weighted Average Basic Shares Outstanding		 24.77M 24.72M 24.78M 24.81M 23.76M 24.18M 23.40M 23.52M 23.04M 23.68M 24.76M
Diluted Earnings per Share		 $0.33 $1.15 $0.51 ($0.01) $1.29 ($0.62) $0.87 $0.03 $0.46 $0.44 ($0.30)
Weighted Average Diluted Shares Outstanding		 24.96M 24.94M 24.97M 24.81M 24.08M 24.40M 23.64M 23.79M 24.56M 24.31M 24.76M
Weighted Average Basic & Diluted Shares Outstanding		 24.97M 24.97M 24.97M 23.32M 23.51M 23.50M 23.50M 23.77M 24.91M 24.91M 24.91M
Cash Dividends to Common per Share		 $0.32 - $0.32 - - - $0.32 - - - $0.32

Annual Cash Flow Statements for Angel Oak Mortgage REIT

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 37 6.34 -12 4.64 -1.60 2.39
Net Cash From Operating Activities		 34 -1,568 -331 306 -221 -407
Net Cash From Continuing Operating Activities		 34 -1,568 -331 306 -223 -406
Net Income / (Loss) Continuing Operations		 0.74 21 -188 34 29 44
Consolidated Net Income / (Loss)		 0.74 21 -188 34 29 44
Amortization Expense		 0.30 1.09 10 2.54 3.55 0.73
Non-Cash Adjustments To Reconcile Net Income		 -472 -1,588 -354 272 -255 -442
Changes in Operating Assets and Liabilities, net		 505 -2.36 201 -2.28 0.00 -8.76
Net Cash From Investing Activities		 -52 -460 664 -194 121 14
Net Cash From Continuing Investing Activities		 -52 -460 664 -194 121 14
Acquisitions		 - - 0.00 -16 -4.05 -4.10
Purchase of Investments		 -1,456 -2,086 -770 -3,374 -1,499 -998
Sale and/or Maturity of Investments		 0.00 505 1,412 2,183 1,621 988
Other Investing Activities, net		 1,404 1,121 22 1,014 2.77 28
Net Cash From Financing Activities		 55 2,035 -346 -108 99 396
Net Cash From Continuing Financing Activities		 55 2,035 -346 -108 99 396
Repayment of Debt		 -57 708 -194 -450 -333 -161
Repurchase of Preferred Equity		 -46 431 -557 141 -143 3.49
Repurchase of Common Equity		 0.00 -4.66 -6.86 0.00 -20 0.00
Payment of Dividends		 -77 -12 -42 -32 -31 -31
Issuance of Debt		 0.00 680 675 233 624 572
Issuance of Common Equity		 0.00 177 - 0.00 1.88 12
Cash Interest Paid		 7.83 10 62 65 66 95
Cash Income Taxes Paid		 - - - - 1.72 3.28

Quarterly Cash Flow Statements for Angel Oak Mortgage REIT

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -26 1.53 -2.28 3.88 -1.37 -1.84 0.58 0.90 9.06 -8.15 -1.64
Net Cash From Operating Activities		 62 -47 40 -24 -212 -25 -202 21 -173 -53 -144
Net Cash From Continuing Operating Activities		 62 -47 40 -24 -212 -25 -201 21 -173 -52 -144
Net Income / (Loss) Continuing Operations		 8.27 29 13 -0.27 31 -15 21 0.77 11 11 -7.38
Consolidated Net Income / (Loss)		 8.27 29 13 -0.27 31 -15 21 0.77 11 11 -7.38
Amortization Expense		 0.33 0.50 0.45 0.39 0.85 1.01 0.95 1.13 1.18 -2.53 0.26
Non-Cash Adjustments To Reconcile Net Income		 53 -78 28 -22 -249 -11 -224 22 -178 -62 -135
Changes in Operating Assets and Liabilities, net		 0.54 1.08 -0.68 -2.49 4.66 0.43 0.72 -3.37 -8.03 1.92 -2.14
Net Cash From Investing Activities		 139 -15 -4.82 -6.24 97 35 -76 70 27 -7.22 0.40
Net Cash From Continuing Investing Activities		 139 -15 -4.82 -6.24 97 35 -76 70 27 -7.22 0.40
Purchase of Investments		 -546 -666 -546 -514 -231 -208 -278 -311 -253 -157 -198
Sale and/or Maturity of Investments		 683 650 542 507 328 244 202 381 252 154 199
Other Investing Activities, net		 4.95 2.23 0.45 0.80 0.90 0.62 0.26 0.20 28 - 0.01
Net Cash From Financing Activities		 -226 64 -38 34 114 -12 278 -90 156 52 142
Net Cash From Continuing Financing Activities		 -226 64 -38 34 114 -11 278 -90 156 52 142
Repayment of Debt		 -66 66 -30 -240 189 -252 188 -315 167 -201 -112
Repurchase of Preferred Equity		 -153 5.56 -0.16 7.56 -98 -52 98 -80 -14 - 2.96
Payment of Dividends		 -7.99 -7.99 -7.99 -8.00 -7.53 -7.52 -7.52 -7.61 -7.84 -7.97 -7.97
Issuance of Debt		 0.00 -0.00 - - 48 301 0.00 - - 261 259
Cash Interest Paid		 16 16 15 15 16 20 18 20 23 35 29

Annual Balance Sheets for Angel Oak Mortgage REIT

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 510 2,578 2,946 2,308 2,270 2,750
Total Current Assets		 502 2,535 2,883 2,265 2,221 2,693
Cash & Equivalents		 44 41 29 42 41 42
Short-Term Investments		 309 746 1,055 622 300 280
Note & Lease Receivable		 149 1,748 1,798 1,601 1,880 2,371
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 7.86 43 63 43 49 57
Noncurrent Note & Lease Receivables		 5.06 26 17 7.50 8.14 10
Other Noncurrent Operating Assets		 2.81 17 46 36 41 47
Total Liabilities & Shareholders' Equity		 510 2,578 2,946 2,308 2,270 2,750
Total Liabilities		 261 2,087 2,710 2,052 2,031 2,482
Total Current Liabilities		 0.22 1.73 2.55 0.82 0.93 3.42
Accrued Expenses		 0.12 0.44 0.00 0.00 0.00 0.00
Other Current Nonoperating Liabilities		 0.10 1.28 2.55 0.82 0.93 3.42
Total Noncurrent Liabilities		 261 2,085 2,702 2,048 2,026 2,475
Long-Term Debt		 82 1,470 1,643 1,460 1,771 2,223
Other Noncurrent Operating Liabilities		 179 615 1,059 588 255 252
Total Equity & Noncontrolling Interests		 248 491 236 256 239 268
Total Preferred & Common Equity		 248 491 236 256 239 268
Total Common Equity		 248 491 236 256 239 268
Common Stock		 247 477 476 477 461 475
Retained Earnings		 2.60 12 -218 -216 -219 -206
Accumulated Other Comprehensive Income / (Loss)		 -1.04 3.00 -21 -4.98 -3.48 -1.31

Quarterly Balance Sheets for Angel Oak Mortgage REIT

This table presents Angel Oak Mortgage REIT'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 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,296 2,252 2,114 2,304 2,677 2,554 2,638 2,810
Total Current Assets		 2,262 2,204 2,068 2,257 2,624 2,144 2,340 2,750
Cash & Equivalents		 42 39 44 42 39 41 52 42
Short-Term Investments		 736 595 417 333 473 - - 213
Note & Lease Receivable		 1,484 1,570 1,607 1,882 2,112 2,103 2,288 2,495
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 34 48 46 47 53 411 298 60
Noncurrent Note & Lease Receivables		 4.69 11 6.17 6.63 9.82 - - 11
Other Noncurrent Operating Assets		 29 37 40 40 43 411 298 49
Total Liabilities & Shareholders' Equity		 2,296 2,252 2,114 2,304 2,677 2,554 2,638 2,810
Total Liabilities		 2,064 1,989 1,858 2,039 2,425 2,308 2,374 2,553
Total Current Liabilities		 0.67 0.80 0.46 1.31 1.87 5.46 4.71 1.89
Accrued Expenses		 0.00 0.00 0.00 0.00 0.00 3.21 2.54 0.00
Other Current Nonoperating Liabilities		 0.67 0.80 0.46 1.31 1.87 2.26 2.17 1.89
Total Noncurrent Liabilities		 2,059 1,986 1,856 2,035 2,418 2,303 2,369 2,547
Long-Term Debt		 1,359 1,431 1,473 1,734 1,917 1,975 2,158 2,361
Other Noncurrent Operating Liabilities		 700 556 383 300 502 327 211 186
Total Equity & Noncontrolling Interests		 232 263 256 265 251 246 264 257
Total Preferred & Common Equity		 232 263 256 265 251 246 264 257
Total Common Equity		 232 263 256 265 251 246 264 257
Common Stock		 477 478 479 461 462 464 474 475
Retained Earnings		 -237 -211 -220 -196 -206 -213 -209 -221
Accumulated Other Comprehensive Income / (Loss)		 -8.17 -3.27 -3.15 -0.44 -4.17 -4.66 -1.00 3.08

Annual Metrics And Ratios for Angel Oak Mortgage REIT

This table displays calculated financial ratios and metrics derived from Angel Oak Mortgage REIT's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 50,664,060.00 24,925,357.00 24,965,274.00 - 24,914,035.00
DEI Adjusted Shares Outstanding		 0.00 50,664,060.00 24,925,357.00 24,965,274.00 - 24,914,035.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.42 -7.54 1.35 - 1.77
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 76.31% 100.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% 21.72% -823.46% 103.68% -125.82% 406.60%
EBIT Growth		 0.00% 19.09% -824.71% 102.49% -181.10% 170.31%
NOPAT Growth		 0.00% 26.79% -4.72% 17.75% 9.01% 7.00%
Net Income Growth		 0.00% 2,768.61% -989.66% 117.95% -14.72% 53.13%
EPS Growth		 0.00% 1,920.00% -857.43% 117.65% -13.33% 53.85%
Operating Cash Flow Growth		 0.00% -4,656.79% 78.88% 192.53% -172.27% -83.75%
Free Cash Flow Firm Growth		 0.00% 0.00% 128.62% -178.02% -131.66% 18.27%
Invested Capital Growth		 0.00% 5,447.32% -31.68% 31.53% 58.09% 30.03%
Revenue Q/Q Growth		 0.00% 0.00% -100.00% 100.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -1.67% 130.88% -104.99% 123.43%
EBIT Q/Q Growth		 0.00% 0.00% -1.78% 119.56% -112.04% 115.63%
NOPAT Q/Q Growth		 0.00% 0.00% -197.98% 64.08% -0.30% 1.32%
Net Income Q/Q Growth		 0.00% 0.00% -6.74% 1,015.15% -60.29% 149.39%
EPS Q/Q Growth		 0.00% 0.00% -5.23% 1,000.00% -60.20% 143.24%
Operating Cash Flow Q/Q Growth		 0.00% -62.07% 75.08% -54.06% 9.14% -7.23%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -206.50% 23.83% 31.83%
Invested Capital Q/Q Growth		 0.00% 0.00% -28.72% 29.21% 2.54% -8.30%
Profitability Metrics		 - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 92.96% 98.19% 96.44% 89.81% 98.81%
Interest Burden Percent		 -2.26% -86.15% 78.46% 576.99% -651.42% 1,289.58%
Effective Tax Rate		 0.00% 7.04% 0.00% 3.56% 10.19% 1.19%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.30% 5.71% -51.61% 13.69% 11.61% 17.38%
Cash Return on Invested Capital (CROIC)		 0.00% -103.77% 35.29% -29.30% -46.29% -26.95%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.30% 5.71% -51.60% 13.69% 11.61% 17.38%
Return on Equity Simple (ROE_SIMPLE)		 0.30% 4.30% -79.43% 13.16% 12.03% 0.00%
Net Operating Profit after Tax (NOPAT)		 -30 -22 -23 -19 -17 -16
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 11.53% -20.98% 26.31% -7.74% -4.14% -3.61%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -1.12% -0.87% -0.65%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -33 -26 -244 6.06 -4.91 3.46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -32 -25 -233 8.60 -2.22 4.18
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.55 0.59 0.40 0.89 0.88 0.77
Price to Tangible Book Value (P/TBV)		 0.55 0.59 0.40 0.89 0.88 0.77
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 189.74 13.80 0.00 6.78 7.35 4.70
Dividend Yield		 0.00% 4.18% 44.38% 13.97% 14.24% 15.41%
Earnings Yield		 0.53% 7.24% 0.00% 14.74% 13.61% 21.28%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.83 0.81 0.97 0.98 0.97
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 119.21 0.00 504.15
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 169.14 0.00 610.23
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 3.34 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 1.87 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.33 2.99 6.95 5.70 7.41 8.31
Long-Term Debt to Equity		 0.33 2.99 6.95 5.70 7.41 8.31
Financial Leverage		 -1.09 0.56 1.72 2.77 4.51 6.60
Leverage Ratio		 2.05 4.17 7.59 10.67 9.25 9.91
Compound Leverage Factor		 -0.05 -3.60 5.95 61.55 -60.24 127.80
Debt to Total Capital		 24.80% 74.95% 87.42% 85.07% 88.11% 89.26%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 24.80% 74.95% 87.42% 85.07% 88.11% 89.26%
Preferred Equity to Total Capital		 0.03% 0.01% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 75.17% 25.05% 12.58% 14.93% 11.89% 10.74%
Debt to EBITDA		 -2.54 -58.16 -7.04 169.80 -797.66 531.59
Net Debt to EBITDA		 8.38 -27.02 -2.39 92.61 -644.06 454.68
Long-Term Debt to EBITDA		 -2.54 -58.16 -7.04 169.80 -797.66 531.59
Debt to NOPAT		 -2.69 -65.96 -70.42 -76.05 -101.39 -136.86
Net Debt to NOPAT		 8.88 -30.64 -23.94 -41.48 -81.86 -117.06
Long-Term Debt to NOPAT		 -2.69 -65.96 -70.42 -76.05 -101.39 -136.86
Altman Z-Score		 1.25 1.23 0.82 1.12 1.09 1.12
Noncontrolling Interest Sharing Ratio		 0.04% 0.03% 0.01% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 2,270.55 1,469.64 1,130.16 2,761.85 556.52 786.60
Quick Ratio		 2,270.55 1,469.64 1,130.16 2,761.85 556.52 786.60
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -1,220 349 -272 -631 -519
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -106.28 5.54 -4.06 -8.58 -5.06
Operating Cash Flow to Interest Expense		 4.59 -136.63 -5.25 4.57 -3.01 -3.97
Operating Cash Flow Less CapEx to Interest Expense		 4.59 -136.63 -5.25 4.57 -3.01 -3.97
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -22 1,175 803 1,056 1,670 2,176
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 1,197 -372 253 614 502
Enterprise Value (EV)		 -133 974 653 1,025 1,641 2,108
Market Capitalization		 137 291 94 229 211 207
Book Value per Share		 $15.79 $19.39 $9.49 $10.26 $10.16 $10.74
Tangible Book Value per Share		 $15.79 $19.39 $9.49 $10.26 $10.16 $10.74
Total Capital		 330 1,961 1,880 1,716 2,010 2,491
Total Debt		 82 1,470 1,643 1,460 1,771 2,223
Total Long-Term Debt		 82 1,470 1,643 1,460 1,771 2,223
Net Debt		 -270 683 559 796 1,430 1,901
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 149 1,746 1,796 1,600 1,876 2,367
Debt-free Net Working Capital (DFNWC)		 502 2,533 2,880 2,264 2,217 2,689
Net Working Capital (NWC)		 502 2,533 2,880 2,264 2,217 2,689
Net Nonoperating Expense (NNE)		 -31 -43 164 -53 -46 -60
Net Nonoperating Obligations (NNO)		 -270 684 567 800 1,431 1,908
Total Depreciation and Amortization (D&A)		 0.30 1.09 10 2.54 2.69 0.73
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $1.02 ($7.65) $1.36 $1.18 $1.85
Adjusted Weighted Average Basic Shares Outstanding		 0.00 20.60M 24.55M 24.72M 24.18M 23.68M
Adjusted Diluted Earnings per Share		 $0.00 $1.01 ($7.65) $1.35 $1.17 $1.80
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 20.85M 24.55M 24.94M 24.40M 24.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 25.09M 24.93M 24.97M 23.50M 24.91M
Normalized Net Operating Profit after Tax (NOPAT)		 -21 -22 -23 -19 -17 -16
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -4.35 -2.30 -3.87 0.09 -0.07 0.03
NOPAT to Interest Expense		 -4.06 -1.94 -0.37 -0.29 -0.24 -0.16
EBIT Less CapEx to Interest Expense		 -4.35 -2.30 -3.87 0.09 -0.07 0.03
NOPAT Less CapEx to Interest Expense		 -4.06 -1.94 -0.37 -0.29 -0.24 -0.16
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 10,423.23% 57.72% -22.21% 94.70% 107.95% 70.27%
Augmented Payout Ratio		 10,423.23% 79.79% -25.86% 94.70% 177.35% 70.27%

Quarterly Metrics And Ratios for Angel Oak Mortgage REIT

This table displays calculated financial ratios and metrics derived from Angel Oak Mortgage REIT's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 24,955,566.00 24,965,274.00 24,965,274.00 24,965,274.00 23,322,816.00 - 23,500,175.00 23,500,175.00 23,765,202.00 24,914,035.00 24,914,647.00
DEI Adjusted Shares Outstanding		 24,955,566.00 24,965,274.00 24,965,274.00 24,965,274.00 23,322,816.00 - 23,500,175.00 23,500,175.00 23,765,202.00 24,914,035.00 24,914,647.00
DEI Earnings Per Adjusted Shares Outstanding		 0.33 1.15 0.52 -0.01 1.34 - 0.87 0.03 0.48 0.45 -0.30
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 101.27% 241.07% 199.47% -3.81% 2,069.71% -212.13% 126.57% 12.54% -89.51% 91.85% -268.74%
EBIT Growth		 100.91% 228.47% 173.09% -2.51% 2,798.73% -219.66% 127.94% 4.39% -93.86% 102.60% -286.60%
NOPAT Growth		 -208.82% 89.99% 18.48% 1.56% 20.24% 10.17% 34.49% -32.85% 11.43% -32.21% -20.81%
Net Income Growth		 109.93% 425.03% 2,329.06% 92.60% 277.18% -152.64% 59.48% 380.95% -63.43% 175.16% -135.94%
EPS Growth		 109.71% 428.57% 2,450.00% 93.33% 290.91% -153.91% 70.59% 400.00% -64.34% 170.97% -134.48%
Operating Cash Flow Growth		 830.58% -115.12% -85.46% -257.00% -444.13% 47.08% -601.59% 185.28% 18.38% -109.26% 28.77%
Free Cash Flow Firm Growth		 156.25% -178.04% -145.75% -168.05% -367.21% -139.81% -80.58% -120.31% 8.21% 18.28% -17.50%
Invested Capital Growth		 -27.44% 31.53% 45.08% 48.18% 99.21% 58.09% 56.61% 71.90% 45.72% 30.03% 42.47%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 113.45% 1,688.93% -76.42% -282.96% 381.09% -192.45% 149.42% -170.62% 133.71% -169.22% -923.75%
EBIT Q/Q Growth		 109.22% 2,312.98% -78.00% -309.38% 360.75% -199.61% 141.91% -187.83% 116.76% -57.91% -3,112.21%
NOPAT Q/Q Growth		 -12.66% 3.06% -7.52% 16.18% 8.71% -9.18% 21.59% -69.99% 39.14% -62.99% 28.35%
Net Income Q/Q Growth		 324.32% 245.69% -54.98% -102.12% 11,530.04% -148.25% 236.37% -96.26% 1,387.61% -0.82% -165.21%
EPS Q/Q Growth		 320.00% 248.48% -55.65% -101.96% 13,000.00% -148.06% 240.32% -96.55% 1,433.33% -4.35% -168.18%
Operating Cash Flow Q/Q Growth		 300.28% -176.70% 184.96% -160.19% -777.37% 88.20% -704.16% 110.23% -939.68% 69.71% -173.74%
Free Cash Flow Firm Q/Q Growth		 -50.24% -184.46% -29.95% -24.60% -95.40% 24.20% 2.73% -52.01% 18.59% 32.11% -39.86%
Invested Capital Q/Q Growth		 -4.64% 29.21% 0.53% 19.62% 28.20% 2.54% -0.63% 31.30% 8.68% -8.30% 8.88%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 98.40% 97.82% 208.40% 91.68% 100.00% 100.00% 100.00% 97.38% 98.06% 100.00%
Interest Burden Percent		 958.63% 139.57% 287.23% 1.37% 136.06% 60.42% 196.58% -8.36% 762.33% 1,783.62% 37.86%
Effective Tax Rate		 0.00% 1.60% 2.18% 0.00% 8.32% 0.00% 0.00% 0.00% 2.62% 1.94% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -1.48% 13.69% 18.14% 20.26% 29.14% 11.61% 14.14% 14.91% 6.67% 17.38% 6.34%
Cash Return on Invested Capital (CROIC)		 26.31% -29.30% -38.84% -40.57% -67.74% -46.29% -45.33% -53.82% -38.03% -26.95% -35.92%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -1.48% 13.69% 18.14% 20.26% 29.14% 11.61% 14.14% 14.91% 6.67% 17.38% 6.34%
Return on Equity Simple (ROE_SIMPLE)		 -1.59% 0.00% 17.49% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.39 -4.26 -4.58 -3.84 -3.50 -3.82 -3.00 -5.10 -3.10 -5.06 -3.62
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -1.75% -4.81% -2.71% -0.44% -3.56% 1.01% -2.13% -0.40% -0.84% -0.98% 0.21%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.25% -0.27% -0.22% -0.18% -0.19% -0.14% -0.23% -0.13% -0.20% -0.14%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 0.86 21 4.58 -9.59 25 -25 10 -9.17 1.54 0.65 -19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.19 21 5.03 -9.20 26 -24 11 -8.05 2.71 -1.88 -19
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.82 0.89 0.91 1.13 0.80 0.88 0.77 0.90 0.84 0.77 0.80
Price to Tangible Book Value (P/TBV)		 0.82 0.89 0.91 1.13 0.80 0.88 0.77 0.90 0.84 0.77 0.80
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 6.78 5.17 5.83 2.95 7.35 5.35 5.91 12.61 4.70 12.71
Dividend Yield		 16.78% 13.97% 16.76% 11.08% 14.00% 14.24% 15.44% 13.59% 13.66% 15.41% 15.57%
Earnings Yield		 0.00% 14.74% 19.33% 17.15% 33.95% 13.61% 18.68% 16.92% 7.93% 21.28% 7.87%
Enterprise Value to Invested Capital (EV/IC)		 0.94 0.97 0.97 1.02 0.97 0.98 0.96 0.99 0.98 0.97 0.98
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 119.21 55.38 70.93 36.56 0.00 319.83 406.87 0.00 504.15 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 169.14 61.18 78.03 38.52 0.00 1,687.21 1,574.89 0.00 610.23 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.16 3.34 14.78 42.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 3.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 5.86 5.70 5.43 5.76 6.54 7.41 7.62 8.02 8.17 8.31 9.19
Long-Term Debt to Equity		 5.86 5.70 5.43 5.76 6.54 7.41 7.62 8.02 8.17 8.31 9.19
Financial Leverage		 2.91 2.77 2.53 3.35 3.92 4.51 4.29 5.88 6.56 6.60 6.93
Leverage Ratio		 11.28 10.67 9.56 9.27 9.26 9.25 9.57 9.30 9.34 9.91 10.79
Compound Leverage Factor		 108.09 14.89 27.45 0.13 12.59 5.59 18.82 -0.78 71.18 176.76 4.09
Debt to Total Capital		 85.43% 85.07% 84.46% 85.21% 86.74% 88.11% 88.40% 88.91% 89.09% 89.26% 90.19%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 85.43% 85.07% 84.46% 85.21% 86.74% 88.11% 88.40% 88.91% 89.09% 89.26% 90.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 14.57% 14.93% 15.54% 14.79% 13.26% 11.89% 11.60% 11.09% 10.91% 10.74% 9.81%
Debt to EBITDA		 -48.81 169.80 76.58 80.32 40.32 -797.66 383.23 372.74 -120.89 531.59 -89.31
Net Debt to EBITDA		 -20.87 92.61 42.62 55.21 31.60 -644.06 280.87 365.10 -118.00 454.68 -79.68
Long-Term Debt to EBITDA		 -48.81 169.80 76.58 80.32 40.32 -797.66 383.23 372.74 -120.89 531.59 -89.31
Debt to NOPAT		 -25.43 -76.05 -77.93 -79.45 -99.60 -101.39 -116.69 -122.23 -131.10 -136.86 -131.01
Net Debt to NOPAT		 -10.87 -41.48 -43.38 -54.61 -78.06 -81.86 -85.52 -119.72 -127.97 -117.06 -116.88
Long-Term Debt to NOPAT		 -25.43 -76.05 -77.93 -79.45 -99.60 -101.39 -116.69 -122.23 -131.10 -136.86 -131.01
Altman Z-Score		 1.07 1.14 1.12 1.11 1.15 1.06 1.13 0.93 1.01 1.12 1.09
Noncontrolling Interest Sharing Ratio		 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3,370.86 2,761.85 2,755.02 4,494.58 1,720.23 556.52 1,406.74 392.44 496.44 786.60 1,454.87
Quick Ratio		 3,370.86 2,761.85 2,755.02 4,494.58 1,720.23 556.52 1,406.74 392.44 496.44 786.60 1,454.87
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 305 -257 -335 -417 -814 -617 -604 -918 -748 -508 -710
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 18.48 -15.78 -20.11 -25.35 -44.21 -28.05 -26.52 -36.51 -28.23 -18.03 -24.83
Operating Cash Flow to Interest Expense		 3.74 -2.90 2.42 -1.47 -11.53 -1.14 -8.86 0.82 -6.55 -1.87 -5.03
Operating Cash Flow Less CapEx to Interest Expense		 3.74 -2.90 2.42 -1.47 -11.53 -1.14 -8.86 0.82 -6.55 -1.87 -5.03
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 817 1,056 1,062 1,270 1,628 1,670 1,663 2,183 2,373 2,176 2,369
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -309 253 330 413 811 614 601 913 744 502 706
Enterprise Value (EV)		 771 1,025 1,035 1,301 1,573 1,641 1,599 2,156 2,329 2,108 2,311
Market Capitalization		 190 229 238 288 213 211 195 221 223 207 205
Book Value per Share		 $9.29 $10.26 $10.55 $10.25 $11.37 $10.16 $10.70 $10.48 $11.12 $10.74 $10.31
Tangible Book Value per Share		 $9.29 $10.26 $10.55 $10.25 $11.37 $10.16 $10.70 $10.48 $11.12 $10.74 $10.31
Total Capital		 1,591 1,716 1,694 1,729 2,000 2,010 2,168 2,222 2,422 2,491 2,618
Total Debt		 1,359 1,460 1,431 1,473 1,734 1,771 1,917 1,975 2,158 2,223 2,361
Total Long-Term Debt		 1,359 1,460 1,431 1,473 1,734 1,771 1,917 1,975 2,158 2,223 2,361
Net Debt		 581 796 796 1,013 1,359 1,430 1,405 1,935 2,106 1,901 2,107
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,483 1,600 1,569 1,606 1,881 1,876 2,110 2,098 2,283 2,367 2,493
Debt-free Net Working Capital (DFNWC)		 2,261 2,264 2,203 2,067 2,256 2,217 2,622 2,138 2,335 2,689 2,748
Net Working Capital (NWC)		 2,261 2,264 2,203 2,067 2,256 2,217 2,622 2,138 2,335 2,689 2,748
Net Nonoperating Expense (NNE)		 -13 -33 -17 -3.56 -35 11 -24 -5.87 -15 -16 3.76
Net Nonoperating Obligations (NNO)		 586 800 798 1,014 1,363 1,431 1,411 1,937 2,109 1,908 2,112
Total Depreciation and Amortization (D&A)		 0.33 0.50 0.45 0.39 0.85 1.01 0.95 1.13 1.18 -2.53 0.26
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.33 $1.16 $0.52 ($0.01) $1.31 ($0.64) $0.88 $0.03 $0.49 $0.45 ($0.30)
Adjusted Weighted Average Basic Shares Outstanding		 24.77M 24.72M 24.78M 24.81M 23.76M 24.18M 23.40M 23.52M 23.04M 23.68M 24.76M
Adjusted Diluted Earnings per Share		 $0.33 $1.15 $0.51 ($0.01) $1.29 ($0.62) $0.87 $0.03 $0.46 $0.44 ($0.30)
Adjusted Weighted Average Diluted Shares Outstanding		 24.96M 24.94M 24.97M 24.81M 24.08M 24.40M 23.64M 23.79M 24.56M 24.31M 24.76M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 24.97M 24.97M 24.97M 23.32M 23.51M 23.50M 23.50M 23.77M 24.91M 24.91M 24.91M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.07 -4.26 -4.58 -3.84 -3.50 -3.82 -2.10 -3.57 -3.10 -5.06 -3.62
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.05 1.28 0.28 -0.58 1.36 -1.13 0.46 -0.36 0.06 0.02 -0.68
NOPAT to Interest Expense		 -0.27 -0.26 -0.28 -0.23 -0.19 -0.17 -0.13 -0.20 -0.12 -0.18 -0.13
EBIT Less CapEx to Interest Expense		 0.05 1.28 0.28 -0.58 1.36 -1.13 0.46 -0.36 0.06 0.02 -0.68
NOPAT Less CapEx to Interest Expense		 -0.27 -0.26 -0.28 -0.23 -0.19 -0.17 -0.13 -0.20 -0.12 -0.18 -0.13
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -866.50% 94.70% 69.35% 64.60% 43.51% 107.95% 83.96% 80.58% 172.70% 70.27% 194.80%
Augmented Payout Ratio		 -866.53% 94.70% 69.35% 64.60% 71.06% 177.35% 83.96% 80.58% 172.70% 70.27% 194.80%

Financials Breakdown Chart

Key Financial Trends

Angel Oak Mortgage REIT (NYSE: AOMR) posted a difficult start to 2026, with Q1 showing a return to a net loss and very heavy operating cash burn. The company remained profitable in the fourth quarter of 2025, but the latest quarter was a clear step down in earnings, cash generation, and balance sheet flexibility compared with the recent past.

What stands out most: AOMR’s business still generates strong interest and investment income, but that has not been enough to offset interest expense, other costs, and volatility in its investment-related items. Cash flow remains dependent on financing activity, and leverage is still high.

  • Interest and investment income remained strong at $40.7 million in Q1 2026, up from $39.0 million in Q4 2025 and $36.7 million in Q3 2025.
  • The company kept net cash from investing activities slightly positive in Q1 2026 at $0.4 million, suggesting investment runoff and sales were roughly balanced.
  • Cash and equivalents rose to $42.0 million at the end of Q1 2026, up from $40.5 million at the end of Q2 2025.
  • Short-term investments were still sizable at $212.6 million, providing liquidity support.
  • Q4 2025 showed the business can still produce profits, with net income of $11.3 million and EPS of $0.45.
  • AOMR’s revenue line remains reported as $0, which is common for some REIT-style financial presentations where earnings are driven by investment income and valuation/other items rather than traditional operating revenue.
  • The company’s balance sheet expanded slightly in Q1 2026, with total assets at $2.81 billion versus $2.55 billion in Q2 2025.
  • Debt issuance and repayment remain active, showing ongoing balance sheet management rather than a static capital structure.
  • Q1 2026 ended with a net loss of $7.4 million, compared with a profit of $11.3 million in Q4 2025 and $11.4 million in Q3 2025.
  • Operating cash flow was deeply negative in Q1 2026 at $(143.7) million, far worse than the negative $(52.5) million in Q4 2025.
  • The company reported a large negative adjustment in non-cash items of $(135.1) million, pointing to significant volatility in earnings quality.
  • Financing activity was still essential, with $258.7 million of debt issued and $112.0 million repaid in Q1 2026.
  • Long-term debt remained very high at $2.36 billion, while equity was only $256.9 million, leaving leverage elevated.
  • Interest burden is meaningful: AOMR paid $28.9 million in cash interest in Q1 2026, compared with $19.9 million in Q4 2025.
  • The latest quarter produced a net cash outflow of $1.6 million, even after financing support.

Longer-term trend: Over the last several quarters, AOMR has shown a pattern of strong but volatile investment income, offset by heavy interest expense, sizable non-cash adjustments, and frequent use of financing to manage the portfolio and debt load. Results improved meaningfully in late 2025, but Q1 2026 suggests that recovery is not yet stable.

Bottom line: Angel Oak Mortgage REIT still has liquidity and earns attractive interest income, but the first quarter of 2026 was weak on profitability and cash flow. For retail investors, the key watch items are whether net income can stabilize again, whether operating cash flow improves, and how effectively management continues to manage leverage and refinancing risk.

07/07/26 12:09 PM ETAI Generated. May Contain Errors.

Angel Oak Mortgage REIT Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Angel Oak Mortgage REIT's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Angel Oak Mortgage REIT's net income appears to be on a downward trend, with a most recent value of $44.02 million in 2025, rising from $736 thousand in 2020. The previous period was $28.75 million in 2024. See where experts think Angel Oak Mortgage REIT is headed by visiting Angel Oak Mortgage REIT's forecast page.

Angel Oak Mortgage REIT's total operating income in 2025 was -$16.44 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $16.44 million

Over the last 5 years, Angel Oak Mortgage REIT's total revenue changed from -$20.79 million in 2020 to $0.00 in 2025, a change of -100.0%.

Angel Oak Mortgage REIT's total liabilities were at $2.48 billion at the end of 2025, a 22.2% increase from 2024, and a 849.8% increase since 2020.

In the past 5 years, Angel Oak Mortgage REIT's cash and equivalents has ranged from $29.27 million in 2022 to $43.57 million in 2020, and is currently $41.62 million as of their latest financial filing in 2025.

Over the last 5 years, Angel Oak Mortgage REIT's book value per share changed from 15.79 in 2020 to 10.74 in 2025, a change of -32.0%.


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Financial statements for NYSE:AOMR last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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