Live Earnings Conference Call: Orchid Island Capital will host a live Q3 2025 earnings call on October 24, 2025 at 10:00AM ET. Get details.

Orchid Island Capital (ORC) Financials

$7.46 -0.01 (-0.17%)

Closing price 10/23/2025 03:59 PM Eastern

Extended Trading

$7.49 +0.03 (+0.44%)

As of 07:46 AM Eastern

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Annual Income Statements for Orchid Island Capital

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	25	1.07	1.98	2.01	-44	24	2.13	-65	-258	-39	38
Consolidated Net Income / (Loss)	25	1.07	1.98	2.01	-44	24	2.13	-65	-258	-39	38
Net Income / (Loss) Continuing Operations	25	-68	1.98	-144	-44	24	2.13	-65	-258	-39	38
Total Pre-Tax Income	25	-68	1.98	-144	-44	24	2.13	-65	-258	-39	38
Total Revenue	29	-32	65	-65	78	-3.40	13	-50	-241	-21	54
Net Interest Income / (Expense)	29	-7.27	72	-42	84	59	91	128	83	-24	5.30
Total Interest Income	32	0.00	87	0.00	155	142	116	135	145	178	242
Total Interest Expense	3.03	7.27	16	42	70	84	25	7.09	62	202	236
Federal Funds Purchased and Securities Sold Interest Expense	3.03	7.27	16	42	70	84	25	7.09	62	202	236
Total Non-Interest Income	0.23	-24	-6.32	-23	-5.98	-62	-78	-178	-324	3.65	49
Net Realized & Unrealized Capital Gains on Investments	0.23	-24	-6.32	-23	-5.98	-62	-78	-178	-324	3.65	49
Total Non-Interest Expense	4.49	36	63	79	123	-28	11	15	17	19	17
Salaries and Employee Benefits	0.50	0.65	0.81	0.64	0.41	0.12	0.04	1.13	0.96	1.42	0.72
Other Operating Expenses	3.99	7.25	8.27	11	12	10	11	14	16	17	16
Basic Earnings per Share	$2.48	$0.05	$0.08	$0.05	($0.85)	$0.43	$0.16	($2.67)	($6.90)	($0.89)	$0.57
Weighted Average Basic Shares Outstanding	9.89M	20.27M	24.10M	41.06M	52.20M	56.33M	13.44M	24.23M	37.46M	44.65M	65.45M
Weighted Average Diluted Shares Outstanding	9.89M	20.27M	24.10M	41.06M	52.20M	56.33M	67.21M	121.14M	39.08M	51.30M	93.29M
Weighted Average Basic & Diluted Shares Outstanding	9.90M	20.27M	24.10M	41.06M	52.20M	56.33M	67.21M	121.14M	39.08M	51.30M	93.29M
Cash Dividends to Common per Share	$2.16	$1.92	$1.68	$1.68	$1.07	$0.96	$0.79	$3.90	$2.48	$1.80	$1.44

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Consolidated Net Income / (Loss)	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Net Income / (Loss) Continuing Operations	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Total Pre-Tax Income	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Total Revenue	39	8.53	-78	-75	125	24	-0.60	22	36	21	-29
Net Interest Income / (Expense)	2.39	-4.21	-8.76	-8.60	-2.79	-2.49	-0.70	0.34	8.14	20	23
Total Interest Income	32	38	40	50	50	49	53	68	72	81	92
Total Interest Expense	30	42	49	59	52	51	54	67	64	61	69
Federal Funds Purchased and Securities Sold Interest Expense	30	42	49	59	52	51	54	67	64	61	69
Total Non-Interest Income	37	13	-70	-67	127	26	0.10	21	28	1.64	-52
Net Realized & Unrealized Capital Gains on Investments	37	13	-70	-67	127	26	0.10	21	28	1.64	-52
Total Non-Interest Expense	4.19	5.00	-89	4.64	97	3.74	4.38	4.27	30	4.23	5.00
Salaries and Employee Benefits	0.19	0.47	0.32	0.32	0.31	-0.09	0.29	0.27	0.25	-0.21	0.23
Other Operating Expenses	3.99	4.53	4.50	4.32	3.76	3.83	4.09	4.00	4.10	4.43	4.77
Basic Earnings per Share	$0.93	$0.09	$0.25	($1.68)	$0.61	$0.38	($0.09)	$0.24	$0.04	$0.18	($0.29)
Weighted Average Basic Shares Outstanding	37.46M	38.49M	40.21M	47.77M	44.65M	51.60M	57.76M	72.38M	65.45M	95.17M	114.45M
Weighted Average Diluted Shares Outstanding	39.08M	39.13M	43.90M	52.33M	51.30M	52.97M	71.34M	78.41M	93.29M	106.67M	126.73M
Weighted Average Basic & Diluted Shares Outstanding	39.08M	39.13M	43.90M	52.33M	51.30M	52.97M	71.34M	78.41M	93.29M	106.67M	126.73M

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	85	-31	24	152	-120	152	21	151	-213	-37	135
Net Cash From Operating Activities	12	31	47	85	94	48	55	96	289	8.00	67
Net Cash From Continuing Operating Activities	12	31	47	85	94	48	55	96	289	8.00	67
Net Income / (Loss) Continuing Operations	25	1.07	1.98	2.01	-44	24	2.13	-65	-258	-39	38
Consolidated Net Income / (Loss)	25	1.07	1.98	2.01	-44	24	2.13	-65	-258	-39	38
Amortization Expense	-	-	-	-	-	-	-	0.00	0.00	-1.88	-4.88
Non-Cash Adjustments to Reconcile Net Income	-9.58	31	45	77	137	18	58	169	532	53	39
Changes in Operating Assets and Liabilities, net	-3.30	-1.74	0.40	5.83	0.99	5.56	-5.11	-8.22	16	-4.29	-4.42
Net Cash From Investing Activities	-1,193	-645	-912	-803	380	-355	-199	-3,017	2,441	-441	-1,415
Net Cash From Continuing Investing Activities	-1,193	-645	-912	-803	380	-355	-9,648	-2,979	2,441	30	-1,457
Purchase of Investment Securities	-2,197	-2,693	-3,173	-6,504	-3,894	-4,271	-4,859	-6,422	-1,005	-1,603	-2,815
Sale and/or Maturity of Investments	1,008	2,048	2,262	5,702	4,274	3,916	-4,788	3,443	3,445	1,633	1,359
Net Cash From Financing Activities	1,267	583	889	870	-594	459	165	3,071	-2,943	396	1,483
Net Cash From Continuing Financing Activities	1,267	583	889	870	-594	459	165	3,071	-2,943	396	1,483
Issuance of Common Equity	171	83	118	198	0.00	92	71	514	41	159	259
Repurchase of Common Equity	-	-11	0.00	0.00	-26	-3.02	-0.07	-0.30	-25	-9.76	-3.46
Payment of Dividends	-23	-39	-37	-68	-59	-53	-54	-91	-93	-81	-93
Other Financing Activities, Net	1,118	362	995	740	-509	423	147	2,649	-2,866	327	1,320
Cash Interest Paid	2.50	7.04	15	37	70	79	35	7.46	53	203	233

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-44	-51	63	29	-78	3.33	53	77	1.34	65	56
Net Cash From Operating Activities	-1.29	-2.63	16	35	-41	45	19	-15	18	26	18
Net Cash From Continuing Operating Activities	-1.29	-2.63	16	35	-41	45	19	-15	18	26	18
Net Income / (Loss) Continuing Operations	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Consolidated Net Income / (Loss)	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Amortization Expense	-	0.00	-	-0.52	-1.35	-1.22	-1.18	-1.32	-1.16	-0.12	-0.20
Non-Cash Adjustments to Reconcile Net Income	-33	-9.92	11	113	-61	23	23	-26	19	15	52
Changes in Operating Assets and Liabilities, net	-3.24	3.76	-5.26	2.78	-5.58	3.88	2.04	-4.86	-5.47	-6.00	0.54
Net Cash From Investing Activities	-291	-449	-413	-290	711	-39	-681	-878	182	-1,527	-291
Net Cash From Continuing Investing Activities	-291	-449	-413	-290	1,182	108	-681	-900	163	-1,491	75
Purchase of Investment Securities	-382	-467	-533	-427	-176	-435	-879	-1,082	-419	-1,853	-1,081
Sale and/or Maturity of Investments	91	19	120	137	1,357	543	198	182	582	362	1,156
Net Cash From Financing Activities	248	400	460	283	-748	-2.51	715	969	-198	1,566	329
Net Cash From Continuing Financing Activities	248	400	460	283	-748	-2.51	715	969	-198	1,566	329
Issuance of Common Equity	41	32	47	80	-	13	101	110	36	205	139
Repurchase of Common Equity	-20	-3.97	-0.31	-0.01	-5.47	-2.90	-0.02	-0.52	-0.02	-0.07	-7.28
Payment of Dividends	-17	-18	-19	-22	-21	-19	-20	-25	-28	-33	-40
Other Financing Activities, Net	245	391	432	225	-721	5.85	634	885	-205	1,393	237
Cash Interest Paid	25	37	52	54	60	47	49	69	69	59	69

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,658	2,242	3,139	4,023	3,396	3,882	4,058	7,069	3,866	4,265	5,722
Cash and Due from Banks	93	57	73	214	108	194	220	385	206	172	309
Restricted Cash	7.79	13	21	32	18	85	79	-	32	28	26
Trading Account Securities	1,550	2,159	-	-	-	-	3,727	51	3,617	4,049	5,363
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	6.49	13	3,044	3,777	3,269	3,603	32	19	12	15	23
Total Liabilities & Shareholders' Equity	1,658	2,242	3,139	4,023	3,396	3,882	4,058	815	3,866	4,265	5,722
Total Liabilities	1,440	1,989	2,806	3,561	3,060	3,487	3,643	6,301	3,427	3,795	5,053
Short-Term Debt	1,437	1,799	2,794	3,534	3,025	3,448	3,596	-	3,387	3,719	5,027
Accrued Interest Payable	0.63	0.86	1.83	6.52	6.45	11	1.16	-	9.21	7.94	11
Other Short-Term Payables	0.33	0.47	5.18	8.23	4.59	-	5.60	12	5.91	6.22	9.94
Other Long-Term Liabilities	2.12	0.94	5.20	13	23	27	40	36	25	61	5.40
Commitments & Contingencies	-	-	-	-	-	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	218	253	333	462	336	396	415	768	439	470	669
Total Preferred & Common Equity	218	253	333	462	336	396	415	768	439	470	669
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	218	253	333	462	336	396	415	768	439	470	669
Common Stock	218	253	333	462	380	416	433	851	780	850	1,011
Retained Earnings	0.49	0.00	0.00	0.00	-44	-20	-18	-83	-341	-380	-343
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	-	0.00	0.02	0.14

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

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	4,474	3,806	4,266	4,731	4,937	4,215	4,930	5,916	7,304	7,611
Cash and Due from Banks	219	214	143	198	159	190	241	322	396	441
Restricted Cash	64	67	43	51	120	13	16	12	3.70	16
Trading Account Securities	3,977	3,237	4,066	4,463	4,639	3,993	4,653	5,559	6,870	7,119
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	214	288	14	18	20	18	20	23	32	33
Total Liabilities & Shareholders' Equity	4,474	3,806	4,266	4,731	4,937	4,215	4,930	5,916	7,304	7,611
Total Liabilities	3,968	3,405	3,815	4,241	4,470	3,733	4,374	5,260	6,448	6,699
Short-Term Debt	3,759	3,134	3,790	4,216	4,431	3,713	4,348	5,232	6,420	6,662
Accrued Interest Payable	3.94	4.42	15	11	16	13	18	16	13	14
Other Short-Term Payables	9.10	6.71	6.28	7.05	8.40	6.37	7.81	9.40	13	15
Other Long-Term Liabilities	196	260	3.37	6.68	15	1.31	0.94	2.65	2.16	4.02
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	506	400	451	490	467	482	556	656	856	912
Total Preferred & Common Equity	506	400	451	490	467	482	556	656	856	912
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	506	400	451	490	467	482	556	656	856	912
Common Stock	798	777	789	818	874	842	922	1,004	1,181	1,271
Retained Earnings	-292	-376	-338	-327	-408	-361	-366	-348	-326	-359
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	0.02	-0.03	0.01	0.06	0.39	0.33

This table displays calculated financial ratios and metrics derived from Orchid Island Capital's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	220.77%	-208.84%	306.53%	-199.39%	220.73%	-104.34%	473.25%	-493.73%	-383.03%	91.41%	362.89%
EBITDA Growth	232.46%	-376.28%	102.92%	-7,374.13%	69.17%	154.67%	-91.23%	-3,143.23%	-299.09%	84.10%	179.75%
EBIT Growth	232.46%	-376.28%	102.92%	-7,374.13%	69.17%	154.67%	-91.23%	-3,143.23%	-299.09%	84.82%	196.01%
NOPAT Growth	232.46%	-293.39%	104.17%	-5,191.89%	69.17%	178.10%	-91.23%	-2,230.26%	-299.09%	84.82%	237.16%
Net Income Growth	3,612.75%	-95.63%	84.78%	1.41%	-2,311.61%	154.67%	-91.23%	-3,143.23%	-299.09%	84.82%	196.01%
EPS Growth	1,178.26%	-97.98%	60.00%	-37.50%	-1,800.00%	150.59%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	15.32%	163.65%	53.22%	80.69%	10.58%	-48.76%	14.98%	74.16%	200.05%	-97.23%	737.06%
Free Cash Flow Firm Growth	-433.92%	50.09%	-39.96%	-9.64%	162.23%	-175.99%	64.15%	2,043.57%	-201.28%	87.92%	-275.35%
Invested Capital Growth	355.44%	35.34%	39.60%	27.81%	-15.89%	14.37%	4.33%	-80.85%	398.05%	9.51%	35.95%
Revenue Q/Q Growth	-37.15%	-7,581.75%	443.05%	-212.79%	0.00%	0.00%	411.12%	-132.03%	43.70%	80.50%	-61.95%
EBITDA Q/Q Growth	-42.57%	-785.03%	103.39%	-254.86%	0.00%	0.00%	-96.50%	-172.79%	23.52%	-28.65%	-39.49%
EBIT Q/Q Growth	-42.57%	-785.03%	103.39%	-254.86%	0.00%	0.00%	-96.50%	-172.79%	23.52%	-24.82%	-36.43%
NOPAT Q/Q Growth	-42.57%	-785.03%	104.84%	-254.86%	0.00%	0.00%	-96.50%	-172.79%	23.52%	-24.82%	-36.43%
Net Income Q/Q Growth	9.25%	133.27%	-93.45%	116.15%	0.00%	0.00%	-50.06%	-1,642.27%	23.52%	-24.82%	-36.43%
EPS Q/Q Growth	-12.68%	119.23%	-93.39%	107.04%	-97.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	6.34%	443.26%	10.97%	10.99%	-31.12%	106.61%	1.31%	12.56%	-11.21%	-83.16%	674.09%
Free Cash Flow Firm Q/Q Growth	-21.86%	18.50%	-103.56%	37.80%	47.49%	6.52%	-133.23%	234.86%	-237.49%	71.76%	-57.73%
Invested Capital Q/Q Growth	15.82%	1.84%	20.57%	-3.12%	-9.53%	-8.60%	6.34%	-87.46%	8.24%	-14.47%	-3.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	84.53%	0.00%	3.04%	0.00%	-56.73%	0.00%	16.79%	0.00%	0.00%	0.00%	60.25%
EBIT Margin	84.53%	0.00%	3.04%	0.00%	-56.73%	0.00%	16.79%	0.00%	0.00%	0.00%	69.22%
Profit (Net Income) Margin	84.53%	0.00%	3.04%	0.00%	-56.73%	0.00%	16.79%	0.00%	0.00%	0.00%	69.22%
Tax Burden Percent	100.00%	-1.58%	100.00%	-1.39%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.43%	0.00%	0.07%	0.00%	-0.84%	0.00%	0.05%	0.00%	0.00%	0.00%	0.76%
ROIC Less NNEP Spread (ROIC-NNEP)	2.43%	0.00%	0.07%	0.00%	-1.25%	0.00%	0.05%	0.00%	0.00%	0.00%	0.76%
Return on Net Nonoperating Assets (RNNOA)	16.23%	0.00%	0.60%	0.00%	-10.28%	0.00%	0.47%	0.00%	0.00%	0.00%	5.85%
Return on Equity (ROE)	18.66%	0.45%	0.68%	0.50%	-11.12%	6.63%	0.52%	-10.94%	-42.83%	-8.63%	6.62%
Cash Return on Invested Capital (CROIC)	-125.56%	-32.47%	-32.98%	-27.25%	16.41%	-12.74%	-4.19%	133.81%	-140.99%	-9.76%	-29.71%
Operating Return on Assets (OROA)	2.43%	0.00%	0.07%	0.00%	-1.20%	0.00%	0.05%	0.00%	0.00%	0.00%	0.75%
Return on Assets (ROA)	2.43%	0.00%	0.07%	0.00%	-1.20%	0.00%	0.05%	0.00%	0.00%	0.00%	0.75%
Return on Common Equity (ROCE)	18.66%	0.45%	0.68%	0.50%	-11.12%	6.63%	0.52%	-10.94%	-42.83%	-8.63%	6.62%
Return on Equity Simple (ROE_SIMPLE)	11.24%	0.42%	0.59%	0.43%	-13.21%	6.14%	0.51%	-8.43%	-58.90%	-8.35%	5.63%
Net Operating Profit after Tax (NOPAT)	25	-47	1.98	-101	-31	24	2.13	-45	-181	-27	38
NOPAT Margin	84.53%	0.00%	3.04%	0.00%	-39.71%	0.00%	16.79%	0.00%	0.00%	0.00%	69.22%
Net Nonoperating Expense Percent (NNEP)	0.00%	-2.83%	0.00%	-3.25%	0.41%	0.00%	0.00%	1.08%	4.58%	0.33%	0.00%
SG&A Expenses to Revenue	1.72%	0.00%	1.24%	0.00%	0.52%	0.00%	0.30%	0.00%	0.00%	0.00%	1.33%
Operating Expenses to Revenue	15.47%	0.00%	96.97%	0.00%	156.73%	0.00%	83.21%	0.00%	0.00%	0.00%	30.78%
Earnings before Interest and Taxes (EBIT)	25	-68	1.98	-144	-44	24	2.13	-65	-258	-39	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	25	-68	1.98	-144	-44	24	2.13	-65	-258	-41	33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.17	0.22	0.25	0.32	0.40	0.44	0.48	0.61	0.55	0.78	0.90
Price to Tangible Book Value (P/TBV)	0.17	0.22	0.25	0.32	0.40	0.44	0.48	0.61	0.55	0.78	0.90
Price to Revenue (P/Rev)	1.26	0.00	1.30	0.00	1.72	0.00	15.84	0.00	0.00	0.00	11.05
Price to Earnings (P/E)	1.49	51.05	42.72	74.79	0.00	7.19	94.31	0.00	0.00	0.00	15.96
Dividend Yield	77.53%	76.44%	52.16%	51.61%	41.28%	34.72%	27.28%	26.91%	43.28%	25.81%	18.79%
Earnings Yield	67.30%	1.96%	2.34%	1.34%	0.00%	13.92%	1.06%	0.00%	0.00%	0.00%	6.27%
Enterprise Value to Invested Capital (EV/IC)	0.83	0.88	0.89	0.86	0.90	0.87	0.87	0.11	0.89	0.93	0.93
Enterprise Value to Revenue (EV/Rev)	47.30	0.00	42.69	0.00	38.77	0.00	275.95	0.00	0.00	0.00	97.29
Enterprise Value to EBITDA (EV/EBITDA)	55.96	0.00	1,406.69	0.00	0.00	137.83	1,643.22	0.00	0.00	0.00	161.48
Enterprise Value to EBIT (EV/EBIT)	55.96	0.00	1,406.69	0.00	0.00	137.83	1,643.22	0.00	0.00	0.00	140.54
Enterprise Value to NOPAT (EV/NOPAT)	55.96	0.00	1,406.69	0.00	0.00	137.83	1,643.22	0.00	0.00	0.00	140.54
Enterprise Value to Operating Cash Flow (EV/OCF)	117.82	64.19	59.17	40.43	32.27	69.44	63.15	0.85	11.72	485.33	79.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	5.02	0.00	0.00	0.03	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.59	7.84	8.40	7.65	9.00	8.72	8.66	0.00	7.72	7.91	7.52
Long-Term Debt to Equity	0.00	0.74	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	6.68	7.26	8.16	7.96	8.22	8.85	8.69	3.04	2.81	7.82	7.68
Leverage Ratio	7.69	8.27	9.18	9.01	9.29	9.95	9.79	9.40	9.06	8.95	8.77
Compound Leverage Factor	7.69	8.27	9.18	9.01	9.29	9.95	9.79	9.40	9.06	8.95	8.77
Debt to Total Capital	86.82%	88.69%	89.36%	88.43%	90.00%	89.71%	89.65%	0.00%	88.53%	88.78%	88.26%
Short-Term Debt to Total Capital	86.82%	80.32%	89.36%	88.43%	90.00%	89.70%	89.65%	0.00%	88.53%	88.78%	88.26%
Long-Term Debt to Total Capital	0.00%	8.37%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
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	13.18%	11.31%	10.64%	11.57%	10.00%	10.29%	10.35%	100.00%	11.47%	11.22%	11.74%
Debt to EBITDA	58.59	-29.32	1,411.68	-24.55	-68.15	142.13	1,689.66	0.00	-13.10	-90.49	153.37
Net Debt to EBITDA	54.48	-28.29	1,363.96	-22.83	-65.31	130.64	1,548.91	0.00	-12.19	-85.62	143.14
Long-Term Debt to EBITDA	0.00	-2.77	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	58.59	-41.89	1,411.68	-35.07	-97.36	142.13	1,689.66	0.00	-18.72	-135.46	133.48
Net Debt to NOPAT	54.48	-40.41	1,363.96	-32.62	-93.30	130.64	1,548.91	0.00	-17.41	-128.16	124.58
Long-Term Debt to NOPAT	0.00	-3.95	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,267	-632	-885	-970	604	-459	-165	3,197	-3,238	-391	-1,469
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	-417.98	-86.96	-56.71	-23.28	8.58	-5.48	-6.57	450.98	-52.48	-1.94	-6.22
Operating Cash Flow to Interest Expense	3.84	4.22	3.02	2.04	1.34	0.58	2.21	13.60	4.69	0.04	0.28
Operating Cash Flow Less CapEx to Interest Expense	3.84	4.22	3.02	2.04	1.34	0.58	2.21	13.60	4.69	0.04	0.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.00	0.02	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.01
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
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,655	2,240	3,126	3,996	3,361	3,844	4,011	768	3,826	4,189	5,696
Invested Capital Turnover	0.03	0.00	0.02	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.01
Increase / (Decrease) in Invested Capital	1,291	585	887	870	-635	483	167	-3,243	3,057	364	1,506
Enterprise Value (EV)	1,372	1,971	2,784	3,437	3,034	3,344	3,497	82	3,390	3,884	5,293
Market Capitalization	36	55	85	150	135	174	201	467	241	365	601
Book Value per Share	$16.68	$11.63	$12.68	$10.02	$6.46	$6.27	$5.99	$4.77	$13.13	$8.98	$8.53
Tangible Book Value per Share	$16.68	$11.63	$12.68	$10.02	$6.46	$6.27	$5.99	$4.77	$13.13	$8.98	$8.53
Total Capital	1,655	2,240	3,126	3,996	3,361	3,844	4,011	768	3,826	4,189	5,696
Total Debt	1,437	1,986	2,794	3,534	3,025	3,449	3,596	0.00	3,387	3,719	5,027
Total Long-Term Debt	0.00	188	0.00	0.00	0.00	0.62	0.00	0.00	0.00	0.00	0.00
Net Debt	1,336	1,916	2,699	3,287	2,899	3,170	3,296	-385	3,150	3,519	4,692
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
Net Nonoperating Expense (NNE)	0.00	-48	0.00	-103	13	0.00	0.00	19	78	12	0.00
Net Nonoperating Obligations (NNO)	1,437	1,986	2,794	3,534	3,025	3,449	3,596	0.00	3,387	3,719	5,027
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.88	-4.88
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$12.40	$0.25	$0.40	$0.25	($4.25)	$2.15	$0.00	($2.70)	($6.90)	($0.89)	$0.57
Adjusted Weighted Average Basic Shares Outstanding	1.98M	4.05M	4.82M	10.61M	9.73M	13.01M	0.00	35.40M	37.46M	44.65M	65.45M
Adjusted Diluted Earnings per Share	$12.40	$0.25	$0.40	$0.25	($4.25)	$2.15	$0.00	($2.70)	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	1.98M	4.05M	4.82M	10.61M	9.73M	13.01M	0.00	35.40M	39.08M	51.30M	93.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$2.15	$0.00	($2.70)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.35M	4.35M	6.59M	8.21M	10.44M	11.27M	0.00	24.23M	39.08M	51.30M	93.29M
Normalized Net Operating Profit after Tax (NOPAT)	17	-28	39	-53	46	-9.65	1.49	-45	-181	-27	26
Normalized NOPAT Margin	59.17%	0.00%	60.25%	0.00%	59.30%	0.00%	11.76%	0.00%	0.00%	0.00%	48.46%
Pre Tax Income Margin	84.53%	0.00%	3.04%	0.00%	-56.73%	0.00%	16.79%	0.00%	0.00%	0.00%	69.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.09	-9.32	0.13	-3.45	-0.63	0.29	0.08	-9.13	-4.19	-0.19	0.16
NOPAT to Interest Expense	8.09	-6.52	0.13	-2.42	-0.44	0.29	0.08	-6.39	-2.93	-0.14	0.16
EBIT Less CapEx to Interest Expense	8.09	-9.32	0.13	-3.45	-0.63	0.29	0.08	-9.13	-4.19	-0.19	0.16
NOPAT Less CapEx to Interest Expense	8.09	-6.52	0.13	-2.42	-0.44	0.29	0.08	-6.39	-2.93	-0.14	0.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	92.35%	3,617.93%	1,858.11%	3,383.36%	-133.62%	219.69%	2,520.91%	-140.49%	-36.17%	-205.87%	245.61%
Augmented Payout Ratio	92.35%	4,631.19%	1,858.11%	3,383.36%	-193.15%	232.15%	2,524.11%	-140.96%	-45.79%	-230.74%	254.80%

This table displays calculated financial ratios and metrics derived from Orchid Island Capital's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	126.43%	105.91%	-40.86%	5.86%	218.45%	175.53%	65.94%	128.60%	-71.12%	-9.21%	-4,671.62%
EBITDA Growth	178.37%	102.37%	117.04%	4.57%	-26.21%	425.64%	-160.13%	119.84%	-82.99%	-8.37%	-448.01%
EBIT Growth	178.37%	102.37%	117.04%	5.18%	-22.33%	460.23%	-148.58%	121.61%	-79.56%	-13.42%	-574.39%
NOPAT Growth	211.96%	103.39%	124.35%	5.18%	-22.33%	460.23%	-134.01%	130.88%	-79.56%	-13.42%	-574.39%
Net Income Growth	178.37%	102.37%	117.04%	5.18%	-22.33%	460.23%	-148.58%	121.61%	-79.56%	-13.42%	-574.39%
EPS Growth	150.54%	0.00%	0.00%	0.00%	-34.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-103.65%	-102.30%	-77.35%	-66.52%	-3,069.41%	1,812.02%	20.83%	-141.77%	142.90%	-42.72%	-4.40%
Free Cash Flow Firm Growth	-194.11%	377.42%	-156.48%	-156.05%	88.86%	-91.79%	53.26%	31.46%	-345.74%	-4,662.42%	-1,239.15%
Invested Capital Growth	398.05%	-16.12%	10.33%	38.58%	9.51%	-1.12%	4.20%	20.22%	35.95%	73.47%	54.45%
Revenue Q/Q Growth	148.78%	-78.18%	-1,017.49%	3.59%	265.00%	-24.61%	-213.41%	180.96%	66.61%	-40.65%	-233.89%
EBITDA Q/Q Growth	141.33%	-89.89%	190.34%	-886.94%	131.96%	-28.01%	-133.21%	359.63%	-72.60%	287.73%	-298.65%
EBIT Q/Q Growth	141.33%	-89.89%	190.34%	-881.85%	133.85%	-27.10%	-125.18%	447.86%	-67.99%	208.78%	-296.11%
NOPAT Q/Q Growth	159.04%	-89.89%	190.34%	-647.30%	148.36%	-27.10%	-117.62%	596.94%	-67.99%	208.78%	-237.28%
Net Income Q/Q Growth	141.33%	-89.89%	190.34%	-881.85%	133.85%	-27.10%	-125.18%	447.86%	-67.99%	208.78%	-296.11%
EPS 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%
Operating Cash Flow Q/Q Growth	-101.22%	-104.11%	707.27%	122.29%	-215.03%	210.26%	-57.14%	-176.84%	218.15%	47.19%	-28.46%
Free Cash Flow Firm Q/Q Growth	-219.34%	127.08%	-152.58%	-229.89%	76.28%	120.80%	-399.44%	-383.75%	-54.24%	-104.21%	12.11%
Invested Capital Q/Q Growth	8.24%	10.88%	10.95%	4.08%	-14.47%	0.45%	16.91%	20.08%	-3.27%	27.75%	4.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	89.29%	41.36%	0.00%	0.00%	20.69%	78.91%	0.00%	74.12%	12.19%	79.64%	0.00%
EBIT Margin	89.29%	41.36%	0.00%	0.00%	21.78%	84.10%	0.00%	80.23%	15.42%	80.20%	0.00%
Profit (Net Income) Margin	89.29%	41.36%	0.00%	0.00%	21.78%	84.10%	0.00%	80.23%	15.42%	80.20%	0.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.13%	0.17%	0.73%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.13%	0.17%	0.73%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	18.31%	1.30%	5.53%	0.00%
Return on Equity (ROE)	-42.83%	-20.35%	-7.19%	-7.25%	-8.63%	-4.93%	0.00%	20.43%	1.47%	6.27%	0.00%
Cash Return on Invested Capital (CROIC)	-140.99%	15.93%	-10.38%	-32.86%	-9.76%	0.74%	-4.67%	-17.26%	-29.71%	-53.12%	-42.70%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%	0.17%	0.73%	0.00%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%	0.17%	0.73%	0.00%
Return on Common Equity (ROCE)	-42.83%	-20.35%	-7.19%	-7.25%	-8.63%	-4.93%	0.00%	20.43%	1.47%	6.27%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-23.53%	-7.31%	-6.73%	0.00%	-4.77%	-6.87%	9.03%	0.00%	4.09%	0.70%
Net Operating Profit after Tax (NOPAT)	35	3.53	10	-56	27	20	-3.49	17	5.55	17	-24
NOPAT Margin	89.29%	41.36%	0.00%	0.00%	21.78%	84.10%	0.00%	80.23%	15.42%	80.20%	0.00%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.64%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.18%
SG&A Expenses to Revenue	0.50%	5.51%	0.00%	0.00%	0.25%	-0.38%	0.00%	1.25%	0.70%	-0.97%	0.00%
Operating Expenses to Revenue	10.71%	58.64%	0.00%	0.00%	78.22%	15.90%	0.00%	19.77%	84.58%	19.80%	0.00%
Earnings before Interest and Taxes (EBIT)	35	3.53	10	-80	27	20	-4.98	17	5.55	17	-34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	35	3.53	10	-81	26	19	-6.16	16	4.39	17	-34
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.55	0.77	0.69	0.67	0.78	0.97	0.79	0.89	0.90	0.82	0.82
Price to Tangible Book Value (P/TBV)	0.55	0.77	0.69	0.67	0.78	0.97	0.79	0.89	0.90	0.82	0.82
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	9.62	4.10	11.05	13.43	30.83
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.90	15.96	20.04	116.68
Dividend Yield	43.28%	31.71%	30.49%	26.96%	25.81%	18.81%	18.71%	17.52%	18.79%	19.15%	20.54%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.10%	6.27%	4.99%	0.86%
Enterprise Value to Invested Capital (EV/IC)	0.89	0.93	0.91	0.91	0.93	0.95	0.92	0.93	0.93	0.92	0.92
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	98.71	38.36	97.29	128.67	286.64
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	101.26	161.48	215.26	1,923.92
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	92.58	140.54	192.00	1,084.89
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	92.58	140.54	192.00	1,084.89
Enterprise Value to Operating Cash Flow (EV/OCF)	11.72	22.90	36.46	93.93	485.33	71.46	76.86	633.78	79.01	140.73	148.21
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.34	0.00	0.00	0.00	127.01	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	7.72	8.40	8.60	9.49	7.91	7.71	7.82	7.98	7.52	7.50	7.30
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	2.81	7.91	8.00	8.72	7.82	8.04	8.19	8.61	7.68	7.58	7.50
Leverage Ratio	9.06	9.06	9.24	10.08	8.95	9.09	9.24	9.67	8.77	8.61	8.54
Compound Leverage Factor	9.06	9.06	9.24	10.08	8.95	9.09	9.24	9.67	8.77	8.61	8.54
Debt to Total Capital	88.53%	89.36%	89.59%	90.47%	88.78%	88.52%	88.66%	88.86%	88.26%	88.24%	87.96%
Short-Term Debt to Total Capital	88.53%	89.36%	89.59%	90.47%	88.78%	88.52%	88.66%	88.86%	88.26%	88.24%	87.96%
Long-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%
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	11.47%	10.64%	10.41%	9.53%	11.22%	11.48%	11.34%	11.14%	11.74%	11.76%	12.04%
Debt to EBITDA	-13.10	-35.69	-117.73	-138.69	-90.49	-142.38	-102.33	96.59	153.37	205.60	1,843.27
Net Debt to EBITDA	-12.19	-33.94	-110.77	-129.98	-85.62	-134.57	-96.28	90.43	143.14	192.79	1,717.01
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-18.72	-50.99	-168.19	-201.42	-135.46	-230.80	-162.56	88.31	133.48	183.39	1,039.41
Net Debt to NOPAT	-17.41	-48.49	-158.24	-188.77	-128.16	-218.14	-152.95	82.68	124.58	171.96	968.21
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3,022	818	-430	-1,420	-337	67	-201	-973	-1,501	-3,065	-2,693
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	-102.42	19.39	-8.84	-24.18	-6.43	1.31	-3.74	-14.46	-23.50	-49.93	-38.96
Operating Cash Flow to Interest Expense	-0.04	-0.06	0.33	0.60	-0.78	0.88	0.36	-0.22	0.27	0.42	0.27
Operating Cash Flow Less CapEx to Interest Expense	-0.04	-0.06	0.33	0.60	-0.78	0.88	0.36	-0.22	0.27	0.42	0.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.03	0.01	0.01	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
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,826	4,242	4,706	4,898	4,189	4,194	4,904	5,888	5,696	7,276	7,574
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.03	0.01	0.01	0.00
Increase / (Decrease) in Invested Capital	3,057	-815	441	1,364	364	-47	198	990	1,506	3,082	2,670
Enterprise Value (EV)	3,390	3,952	4,303	4,465	3,884	3,976	4,532	5,485	5,293	6,721	6,953
Market Capitalization	241	348	337	313	365	467	442	586	601	702	748
Book Value per Share	$13.13	$11.55	$12.52	$10.64	$8.98	$9.33	$10.49	$9.20	$8.53	$9.17	$8.55
Tangible Book Value per Share	$13.13	$11.55	$12.52	$10.64	$8.98	$9.33	$10.49	$9.20	$8.53	$9.17	$8.55
Total Capital	3,826	4,242	4,706	4,898	4,189	4,194	4,904	5,888	5,696	7,276	7,574
Total Debt	3,387	3,790	4,216	4,431	3,719	3,713	4,348	5,232	5,027	6,420	6,662
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	3,150	3,604	3,966	4,153	3,519	3,509	4,091	4,898	4,692	6,020	6,205
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
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	24	0.00	0.00	1.49	0.00	0.00	0.00	10
Net Nonoperating Obligations (NNO)	3,387	3,790	4,216	4,431	3,719	3,713	4,348	5,232	5,027	6,420	6,662
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	-0.52	-1.35	-1.22	-1.18	-1.32	-1.16	-0.12	-0.20
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.93	$0.09	$0.25	($1.68)	$0.61	$0.38	($0.09)	$0.24	$0.04	$0.18	($0.29)
Adjusted Weighted Average Basic Shares Outstanding	37.46M	38.49M	40.21M	47.77M	44.65M	51.60M	57.76M	72.38M	65.45M	95.17M	114.45M
Adjusted Diluted Earnings per Share	$0.93	$0.00	$0.00	$0.00	$0.61	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	39.08M	39.13M	43.90M	52.33M	51.30M	52.97M	71.34M	78.41M	93.29M	106.67M	126.73M
Adjusted Basic & Diluted Earnings per Share	$0.93	$0.00	$0.00	$0.00	$0.61	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.08M	39.13M	43.90M	52.33M	51.30M	52.97M	71.34M	78.41M	93.29M	106.67M	126.73M
Normalized Net Operating Profit after Tax (NOPAT)	24	2.47	-58	-56	19	14	-22	12	3.88	12	-24
Normalized NOPAT Margin	62.51%	28.95%	0.00%	0.00%	15.25%	58.87%	0.00%	56.16%	10.79%	56.14%	0.00%
Pre Tax Income Margin	89.29%	41.36%	0.00%	0.00%	21.78%	84.10%	0.00%	80.23%	15.42%	80.20%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.18	0.08	0.21	-1.37	0.52	0.39	-0.09	0.26	0.09	0.28	-0.49
NOPAT to Interest Expense	1.18	0.08	0.21	-0.96	0.52	0.39	-0.06	0.26	0.09	0.28	-0.34
EBIT Less CapEx to Interest Expense	1.18	0.08	0.21	-1.37	0.52	0.39	-0.09	0.26	0.09	0.28	-0.49
NOPAT Less CapEx to Interest Expense	1.18	0.08	0.21	-0.96	0.52	0.39	-0.06	0.26	0.09	0.28	-0.34
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-36.17%	-76.19%	-211.75%	-244.15%	-205.87%	-352.03%	-215.24%	143.57%	245.61%	304.55%	1,977.47%
Augmented Payout Ratio	-45.79%	-103.12%	-286.25%	-321.47%	-230.74%	-389.84%	-237.24%	158.62%	254.80%	306.34%	2,100.45%

Financials Breakdown Chart

Key Financial Trends

Orchid Island Capital (NYSE: ORC) has exhibited significant fluctuations in financial performance and position over the past several years based on available income statements, cash flow statements, and balance sheets through Q2 2025.

Positive aspects:

Strong cash balance and liquidity position with Cash and Due from Banks increasing from $143.2M in Q1 2023 to $440.8M in Q2 2025, supporting operational flexibility.
Consistent issuance of common equity financing, raising substantial capital (e.g., $139.4M in Q2 2025), which bolsters the equity base and funds investments.
Robust portfolio of Trading Account Securities growing from $4.07B in Q1 2023 to $7.12B in Q2 2025, indicating portfolio expansion and asset growth.
Ability to generate net cash from operating activities in most recent quarters, including $18.4M in Q2 2025 and $25.8M in Q1 2025, reflecting some operational cash flow resilience despite income volatility.
Return to profitable net income in Q1 2025 ($17.1M) after net losses in Q3 and Q2 2025, showing potential recovery or cyclical improvement.

Neutral aspects:

Stable basic and diluted shares outstanding showing moderate dilution over time from about 38M in early 2023 to approximately 114M shares in Q2 2025.
Consistent payment of dividends around $0.36 per share in recent quarters, indicating steady commitment to shareholder returns despite earnings swings.
Operating expenses remain relatively modest, typically under $5M per quarter, indicating controlled overhead.
Net interest income positive but modest, hovering around $23M in Q2 2025, reflecting margin on investments and funding costs.

Negative aspects:

Significant quarterly net losses in 2025, including -$33.6M in Q2 2025 and -$80M in Q3 2023, driven primarily by volatile and large unrealized capital losses on investments.
Highly volatile net realized and unrealized capital gains and losses; for instance, -$51.7M in Q2 2025 and -$66.8M in Q3 2023, impacting total revenue and earnings stability.
Substantial increase in short-term debt from $3.79B in Q1 2023 to $6.66B in Q2 2025, indicating growing leverage and potential refinancing risk.
Persistently negative retained earnings, declining to -$359.2M by Q2 2025, reflecting cumulative losses impacting equity value.
Large cash interest paid, rising from $36.7M in Q1 2023 to nearly $69M in Q2 2025, escalating financing costs and pressuring net margins.
Net cash used in investing activities significantly negative in many periods (e.g., -$1.49B in Q1 2025 and -$291M in Q2 2025), reflecting heavy investment commitments which may strain cash flows if returns are delayed or poor.

Summary: Orchid Island Capital is characterized by a substantial increase in asset size, particularly trading securities, and capital raises through equity issuance. However, the company is struggling with volatility in capital gains/losses resulting in unstable income performance and widening retained losses. The increase in debt and corresponding interest costs raise risks around leverage. While cash flow from operations is occasionally positive, reliance on large investing and financing cash flows points to sensitivity to capital markets conditions. Retail investors should weigh the company's growth in assets and liquidity against ongoing earnings volatility and leverage risks.

10/24/25 05:16 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Orchid Island Capital's Financials

When does Orchid Island Capital's fiscal year end?

According to the most recent income statement we have on file, Orchid Island Capital's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Orchid Island Capital's net income changed over the last 10 years?

Orchid Island Capital's net income appears to be on an upward trend, with a most recent value of $37.66 million in 2024, rising from $24.52 million in 2014. The previous period was -$39.23 million in 2023. Find out what analysts predict for Orchid Island Capital in the coming months.

How has Orchid Island Capital's revenue changed over the last 10 years?

Over the last 10 years, Orchid Island Capital's total revenue changed from $29.01 million in 2014 to $54.41 million in 2024, a change of 87.6%.

How much debt does Orchid Island Capital have?

Orchid Island Capital's total liabilities were at $5.05 billion at the end of 2024, a 33.2% increase from 2023, and a 251.0% increase since 2014.

How much cash does Orchid Island Capital have?

In the past 10 years, Orchid Island Capital's cash and equivalents has ranged from $57.23 million in 2015 to $385.14 million in 2021, and is currently $309.33 million as of their latest financial filing in 2024.

How has Orchid Island Capital's book value per share changed over the last 10 years?

Over the last 10 years, Orchid Island Capital's book value per share changed from 16.68 in 2014 to 8.53 in 2024, a change of -48.9%.

Related Companies

This page (NYSE:ORC) was last updated on 10/24/2025 by MarketBeat.com Staff

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Orchid Island Capital (ORC) Financials

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Orchid Island Capital (ORC) Financials

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