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Orchid Island Capital (ORC) Financials

Orchid Island Capital logo
$6.50 -0.04 (-0.54%)
Closing price 09/9/2026 03:59 PM Eastern
Extended Trading
$6.51 +0.00 (+0.08%)
As of 07:49 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Orchid Island Capital

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1.07 1.98 2.01 -44 24 2.13 -65 -258 -39 38 159
Consolidated Net Income / (Loss)		 1.07 1.98 2.01 -44 24 2.13 -65 -258 -39 38 159
Net Income / (Loss) Continuing Operations		 -68 1.98 -144 -44 24 2.13 -65 -258 -39 38 159
Total Pre-Tax Income 		-68 1.98 -144 -44 24 2.13 -65 -258 -39 38 159
Total Revenue		 -32 65 -65 78 -3.40 13 -50 -241 -21 54 180
Net Interest Income / (Expense)		 -7.27 72 -42 84 59 91 128 83 -24 5.30 108
Total Interest Income		 0.00 87 0.00 155 142 116 135 145 178 242 414
Total Interest Expense		 7.27 16 42 70 84 25 7.09 62 202 236 306
Federal Funds Purchased and Securities Sold Interest Expense		 7.27 16 42 70 84 25 7.09 62 202 236 306
Total Non-Interest Income		 -24 -6.32 -23 -5.98 -62 -78 -178 -324 3.65 49 71
Net Realized & Unrealized Capital Gains on Investments		 -24 -6.32 -23 -5.98 -62 -78 -178 -324 3.65 49 71
Total Non-Interest Expense		 36 63 79 123 -28 11 15 17 19 17 20
Salaries and Employee Benefits		 0.65 0.81 0.64 0.41 0.12 0.04 1.13 0.96 1.42 0.72 0.45
Other Operating Expenses		 7.25 8.27 11 12 10 11 14 16 17 16 20
Basic Earnings per Share		 $0.05 $0.08 $0.05 ($0.85) $0.43 $0.16 ($2.67) ($6.90) ($0.89) $0.57 $1.24
Weighted Average Basic Shares Outstanding		 20.27M 24.10M 41.06M 52.20M 56.33M 13.44M 24.23M 37.46M 44.65M 65.45M 128.30M
Weighted Average Diluted Shares Outstanding		 20.27M 24.10M 41.06M 52.20M 56.33M 67.21M 121.14M 39.08M 51.30M 93.29M 190.69M
Weighted Average Basic & Diluted Shares Outstanding		 20.27M 24.10M 41.06M 52.20M 56.33M 67.21M 121.14M 39.08M 51.30M 93.29M 190.69M
Cash Dividends to Common per Share		 $1.92 $1.68 $1.68 $1.07 $0.96 $0.79 $3.90 $2.48 $1.80 $1.44 $1.44

Quarterly Income Statements for Orchid Island Capital

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Consolidated Net Income / (Loss)		 27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Net Income / (Loss) Continuing Operations		 27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Total Pre-Tax Income 		27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Total Revenue		 125 24 -0.60 22 36 21 -29 78 109 -13 96
Net Interest Income / (Expense)		 -2.79 -2.49 -0.70 0.34 8.14 20 23 27 38 57 60
Total Interest Income		 50 49 53 68 72 81 92 108 132 158 164
Total Interest Expense		 52 51 54 67 64 61 69 82 94 101 104
Federal Funds Purchased and Securities Sold Interest Expense		 52 51 54 67 64 61 69 82 94 101 104
Total Non-Interest Income		 127 26 0.10 21 28 1.64 -52 51 71 -70 36
Net Realized & Unrealized Capital Gains on Investments		 127 26 0.10 21 28 1.64 -52 51 71 -70 36
Total Non-Interest Expense		 97 3.74 4.38 4.27 30 4.23 5.00 5.44 5.82 7.40 6.76
Salaries and Employee Benefits		 0.31 -0.09 0.29 0.27 0.25 -0.21 0.23 0.22 0.21 1.42 0.42
Other Operating Expenses		 3.76 3.83 4.09 4.00 4.10 4.43 4.77 5.22 5.61 5.98 6.35
Basic Earnings per Share		 $0.61 $0.38 ($0.09) $0.24 $0.04 $0.18 ($0.29) $0.53 $0.82 ($0.11) $0.44
Weighted Average Basic Shares Outstanding		 44.65M 51.60M 57.76M 72.38M 65.45M 95.17M 114.45M 136.37M 128.30M 189.26M 200.93M
Weighted Average Diluted Shares Outstanding		 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M 199.60M
Weighted Average Basic & Diluted Shares Outstanding		 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M 199.60M

Annual Cash Flow Statements for Orchid Island Capital

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 -31 24 152 -120 152 21 151 -213 -37 135 390
Net Cash From Operating Activities		 31 47 85 94 48 55 96 289 8.00 67 120
Net Cash From Continuing Operating Activities		 31 47 85 94 48 55 96 289 8.00 67 120
Net Income / (Loss) Continuing Operations		 1.07 1.98 2.01 -44 24 2.13 -65 -258 -39 38 159
Consolidated Net Income / (Loss)		 1.07 1.98 2.01 -44 24 2.13 -65 -258 -39 38 159
Amortization Expense		 - - - - - - 0.00 0.00 -1.88 -4.88 -0.69
Non-Cash Adjustments to Reconcile Net Income		 31 45 77 137 18 58 169 532 53 39 -34
Changes in Operating Assets and Liabilities, net		 -1.74 0.40 5.83 0.99 5.56 -5.11 -8.22 16 -4.29 -4.42 -4.32
Net Cash From Investing Activities		 -645 -912 -803 380 -355 -199 -3,017 2,441 -441 -1,415 -5,376
Net Cash From Continuing Investing Activities		 -645 -912 -803 380 -355 -9,648 -2,979 2,441 -441 -1,415 -5,376
Purchase of Investment Securities		 -2,693 -3,173 -6,504 -3,894 -4,271 -4,859 -6,422 -1,005 -1,619 -2,815 -7,735
Sale and/or Maturity of Investments		 2,048 2,262 5,702 4,274 3,916 -4,788 3,443 3,445 1,178 1,400 2,358
Net Cash From Financing Activities		 583 889 870 -594 459 165 3,071 -2,943 396 1,483 5,645
Net Cash From Continuing Financing Activities		 583 889 870 -594 459 165 3,071 -2,943 396 1,483 5,645
Issuance of Common Equity		 83 118 198 0.00 92 71 514 41 159 259 741
Repurchase of Common Equity		 -11 0.00 0.00 -26 -3.02 -0.07 -0.30 -25 -9.76 -3.46 -7.38
Payment of Dividends		 -39 -37 -68 -59 -53 -54 -91 -93 -81 -93 -179
Other Financing Activities, Net		 362 995 740 -509 423 147 2,649 -2,866 327 1,320 5,090
Cash Interest Paid		 7.04 15 37 70 79 35 7.46 53 203 233 285

Quarterly Cash Flow Statements for Orchid Island Capital

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -78 3.33 53 77 1.34 65 56 161 107 36 54
Net Cash From Operating Activities		 -41 45 19 -15 18 26 18 28 48 49 82
Net Cash From Continuing Operating Activities		 -41 45 19 -15 18 26 18 28 48 49 82
Net Income / (Loss) Continuing Operations		 27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Consolidated Net Income / (Loss)		 27 20 -4.98 17 5.55 17 -34 72 103 -20 89
Amortization Expense		 -1.35 -1.22 -1.18 -1.32 -1.16 -0.12 -0.20 -0.20 -0.18 -0.17 -0.09
Non-Cash Adjustments to Reconcile Net Income		 -61 23 23 -26 19 15 52 -45 -55 77 -29
Changes in Operating Assets and Liabilities, net		 -5.58 3.88 2.04 -4.86 -5.47 -6.00 0.54 1.56 -0.42 -8.32 22
Net Cash From Investing Activities		 711 -39 -681 -878 182 -1,527 -291 -1,323 -2,236 -802 -207
Net Cash From Continuing Investing Activities		 1,182 108 -681 -900 163 -1,491 75 -1,535 -2,425 -782 -44
Purchase of Investment Securities		 -176 -435 -879 -1,082 -419 -1,853 -1,081 -1,535 -3,265 -1,212 -969
Sale and/or Maturity of Investments		 1,357 543 198 182 582 362 1,156 - 841 430 925
Net Cash From Financing Activities		 -748 -2.51 715 969 -198 1,566 329 1,455 2,295 789 179
Net Cash From Continuing Financing Activities		 -748 -2.51 715 969 -198 1,566 329 1,455 2,295 789 179
Issuance of Common Equity		 - 13 101 110 36 205 139 152 244 108 28
Repurchase of Common Equity		 -5.47 -2.90 -0.02 -0.52 -0.02 -0.07 -7.28 -0.02 -0.02 -0.66 -7.36
Payment of Dividends		 -21 -19 -20 -25 -28 -33 -40 -48 -58 -67 -64
Other Financing Activities, Net		 -721 5.85 634 885 -205 1,393 237 1,351 2,108 749 222
Cash Interest Paid		 60 47 49 69 69 59 69 73 85 104 83

Annual Balance Sheets for Orchid Island Capital

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 2,242 3,139 4,023 3,396 3,882 4,058 7,069 3,866 4,265 5,722 11,676
Cash and Due from Banks		 57 73 214 108 194 220 385 206 172 309 666
Restricted Cash		 13 21 32 18 85 79 - 32 28 26 59
Trading Account Securities		 2,159 - - - - 3,727 51 3,617 4,049 5,363 10,902
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		 13 3,044 3,777 3,269 3,603 32 19 12 15 23 50
Total Liabilities & Shareholders' Equity		 2,242 3,139 4,023 3,396 3,882 4,058 815 3,866 4,265 5,722 11,676
Total Liabilities		 1,989 2,806 3,561 3,060 3,487 3,643 6,301 3,427 3,795 5,053 10,304
Short-Term Debt		 1,799 2,794 3,534 3,025 3,448 3,596 - 3,387 3,719 5,026 10,119
Accrued Interest Payable		 0.86 1.83 6.52 6.45 11 1.16 - 9.21 7.94 11 31
Other Short-Term Payables		 0.47 5.18 8.23 4.59 - 5.60 12 5.91 6.22 - 22
Long-Term Debt		 188 - - - 0.62 - - - - 0.00 129
Other Long-Term Liabilities		 0.94 5.20 13 23 27 40 36 25 61 17 3.09
Commitments & Contingencies		 - - - - - - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 253 333 462 336 396 415 768 439 470 669 1,372
Total Preferred & Common Equity		 253 333 462 336 396 415 768 439 470 669 1,372
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		 253 333 462 336 396 415 768 439 470 669 1,372
Common Stock		 253 333 462 380 416 433 851 780 850 1,011 1,555
Retained Earnings		 0.00 0.00 0.00 -44 -20 -18 -83 -341 -380 -343 -184
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - 0.00 0.02 0.14 0.42

Quarterly Balance Sheets for Orchid Island Capital

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 4,266 4,731 4,937 4,215 4,930 5,916 7,304 7,611 9,139 12,671 13,104
Cash and Due from Banks		 143 198 159 190 241 322 396 441 584 674 683
Restricted Cash		 43 51 120 13 16 12 3.70 16 33 86 131
Trading Account Securities		 4,066 4,463 4,639 3,993 4,653 5,559 6,870 7,119 8,482 11,855 12,234
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		 14 18 20 18 20 23 32 33 40 55 55
Total Liabilities & Shareholders' Equity		 4,266 4,731 4,937 4,215 4,930 5,916 7,304 7,611 9,139 12,671 13,104
Total Liabilities		 3,815 4,241 4,470 3,733 4,374 5,260 6,448 6,699 8,053 11,280 11,663
Short-Term Debt		 3,790 4,216 4,431 3,713 4,348 5,232 6,420 6,662 8,011 10,867 11,093
Accrued Interest Payable		 15 11 16 13 18 16 13 14 22 28 49
Other Short-Term Payables		 6.28 7.05 8.40 6.37 7.81 9.40 13 15 18 24 20
Long-Term Debt		 - - - - - - - - - 359 496
Other Long-Term Liabilities		 3.37 6.68 15 1.31 0.94 2.65 2.16 4.02 1.47 1.15 4.12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 451 490 467 482 556 656 856 912 1,086 1,392 1,441
Total Preferred & Common Equity		 451 490 467 482 556 656 856 912 1,086 1,392 1,441
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		 451 490 467 482 556 656 856 912 1,086 1,392 1,441
Common Stock		 789 818 874 842 922 1,004 1,181 1,271 1,373 1,595 1,556
Retained Earnings		 -338 -327 -408 -361 -366 -348 -326 -359 -287 -204 -115
Accumulated Other Comprehensive Income / (Loss)		 - - 0.02 -0.03 0.01 0.06 0.39 0.33 0.42 0.14 -0.14

Annual Metrics And Ratios for Orchid Island Capital

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.25 $0.40 $0.25 ($4.25) $2.15 $0.00 ($2.70) ($6.90) ($0.89) $0.57 $1.24
Adjusted Weighted Average Basic Shares Outstanding		 4.05M 4.82M 10.61M 9.73M 13.01M 0.00 35.40M 37.46M 44.65M 65.45M 128.30M
Adjusted Diluted Earnings per Share		 $0.25 $0.40 $0.25 ($4.25) $2.15 $0.00 ($2.70) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 4.05M 4.82M 10.61M 9.73M 13.01M 0.00 35.40M 39.08M 51.30M 93.29M 190.69M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $2.15 $0.00 ($2.70) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 4.35M 6.59M 8.21M 10.44M 11.27M 0.00 24.23M 39.08M 51.30M 93.29M 190.69M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Orchid Island Capital

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 190,693,392.00 200,700,226.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 190,693,392.00 200,700,226.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.10 0.44
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 218.45% 175.53% 65.94% 128.60% -71.12% -9.21% -4,671.62% 259.07% - -158.83% 435.72%
EBITDA Growth		 -26.21% 425.64% -160.13% 119.84% -82.99% -8.37% -448.01% 349.24% - -218.38% 363.82%
EBIT Growth		 -22.33% 460.23% -148.58% 121.61% -79.56% -13.42% -574.39% 316.15% - -216.55% 365.63%
NOPAT Growth		 -22.33% 460.23% -134.01% 130.88% -79.56% -13.42% -574.39% 316.15% - -181.58% 479.47%
Net Income Growth		 -22.33% 460.23% -148.58% 121.61% -79.56% -13.42% -574.39% 316.15% - -216.55% 365.63%
EPS Growth		 -34.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Cash Flow Growth		 -3,069.41% 1,812.02% 20.83% -141.77% 142.90% -42.72% -4.40% 288.68% - 88.58% 342.48%
Free Cash Flow Firm Growth		 88.86% -91.79% 53.26% 31.46% -345.74% -4,662.42% -1,239.15% -222.45% - -74.78% -99.30%
Invested Capital Growth		 9.51% -1.12% 4.20% 20.22% 35.95% 73.47% 54.45% 54.51% - 73.42% 72.06%
Revenue Q/Q Growth		 265.00% -24.61% -213.41% 180.96% 66.61% -40.65% -233.89% 371.22% - -111.50% 864.09%
EBITDA Q/Q Growth		 131.96% -28.01% -133.21% 359.63% -72.60% 287.73% -298.65% 312.84% - -119.50% 542.71%
EBIT Q/Q Growth		 133.85% -27.10% -125.18% 447.86% -67.99% 208.78% -296.11% 314.66% - -119.30% 546.97%
NOPAT Q/Q Growth		 148.36% -27.10% -117.62% 596.94% -67.99% 208.78% -237.28% 406.65% - -113.51% 738.52%
Net Income Q/Q Growth		 133.85% -27.10% -125.18% 447.86% -67.99% 208.78% -296.11% 314.66% - -119.30% 546.97%
EPS Q/Q Growth		 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		 -215.03% 210.26% -57.14% -176.84% 218.15% 47.19% -28.46% 51.66% - 0.74% 67.86%
Free Cash Flow Firm Q/Q Growth		 76.28% 120.80% -399.44% -383.75% -54.24% -104.21% 12.11% -16.48% - 8.00% -0.22%
Invested Capital Q/Q Growth		 -14.47% 0.45% 16.91% 20.08% -3.27% 27.75% 4.09% 20.12% - 8.59% 3.27%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 20.69% 78.91% 0.00% 74.12% 12.19% 79.64% 0.00% 92.73% - 0.00% 92.86%
EBIT Margin		 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00% 92.95%
Profit (Net Income) Margin		 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00% 92.95%
Tax Burden Percent		 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%
Effective Tax Rate		 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% 2.13% 0.17% 0.73% 0.00% 1.00% - 0.00% 2.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 2.13% 0.17% 0.73% 0.00% 1.00% - 0.00% 2.44%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 18.31% 1.30% 5.53% 0.00% 7.56% - 0.00% 18.90%
Return on Equity (ROE)		 -8.63% -4.93% 0.00% 20.43% 1.47% 6.27% 0.00% 8.56% - 0.00% 21.34%
Cash Return on Invested Capital (CROIC)		 -9.76% 0.74% -4.67% -17.26% -29.71% -53.12% -42.70% -42.02% - -52.48% -50.60%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 2.11% 0.17% 0.73% 0.00% 0.99% - 0.00% 2.42%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 2.11% 0.17% 0.73% 0.00% 0.99% - 0.00% 2.42%
Return on Common Equity (ROCE)		 -8.63% -4.93% 0.00% 20.43% 1.47% 6.27% 0.00% 8.56% - 0.00% 21.34%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -4.77% -6.87% 9.03% 0.00% 4.09% 0.70% 5.63% - 8.76% 16.98%
Net Operating Profit after Tax (NOPAT)		 27 20 -3.49 17 5.55 17 -24 72 - -14 89
NOPAT Margin		 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00% 92.95%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.03% 0.00% 0.00% 0.00% 0.18% 0.00% - 0.07% 0.00%
SG&A Expenses to Revenue		 0.25% -0.38% 0.00% 1.25% 0.70% -0.97% 0.00% 0.29% - 0.00% 0.43%
Operating Expenses to Revenue		 78.22% 15.90% 0.00% 19.77% 84.58% 19.80% 0.00% 7.02% - 0.00% 7.05%
Earnings before Interest and Taxes (EBIT)		 27 20 -4.98 17 5.55 17 -34 72 - -20 89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 26 19 -6.16 16 4.39 17 -34 72 - -20 89
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.78 0.97 0.79 0.89 0.90 0.82 0.82 0.82 - 0.96 0.97
Price to Tangible Book Value (P/TBV)		 0.78 0.97 0.79 0.89 0.90 0.82 0.82 0.82 - 0.96 0.97
Price to Revenue (P/Rev)		 0.00 0.00 9.62 4.10 11.05 13.43 30.83 11.08 - 9.21 5.18
Price to Earnings (P/E)		 0.00 0.00 0.00 9.90 15.96 20.04 116.68 14.52 - 10.99 5.72
Dividend Yield		 25.81% 18.81% 18.71% 17.52% 18.79% 19.15% 20.54% 20.54% - 20.48% 19.80%
Earnings Yield		 0.00% 0.00% 0.00% 10.10% 6.27% 4.99% 0.86% 6.89% - 9.10% 17.49%
Enterprise Value to Invested Capital (EV/IC)		 0.93 0.95 0.92 0.93 0.93 0.92 0.92 0.91 - 0.94 0.93
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 98.71 38.36 97.29 128.67 286.64 103.29 - 81.09 45.07
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 101.26 161.48 215.26 1,923.92 139.21 - 97.41 49.88
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 92.58 140.54 192.00 1,084.89 135.41 - 96.81 49.75
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 92.58 140.54 192.00 1,084.89 135.41 - 96.81 49.75
Enterprise Value to Operating Cash Flow (EV/OCF)		 485.33 71.46 76.86 633.78 79.01 140.73 148.21 92.33 - 82.40 58.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 127.01 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 7.91 7.71 7.82 7.98 7.52 7.50 7.30 7.38 - 8.07 8.04
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.26 0.34
Financial Leverage		 7.82 8.04 8.19 8.61 7.68 7.58 7.50 7.60 - 7.85 7.76
Leverage Ratio		 8.95 9.09 9.24 9.67 8.77 8.61 8.54 8.64 - 8.89 8.80
Compound Leverage Factor		 8.95 9.09 9.24 9.67 8.77 8.61 8.54 8.64 - 8.89 8.80
Debt to Total Capital		 88.78% 88.52% 88.66% 88.86% 88.26% 88.24% 87.96% 88.06% - 88.97% 88.94%
Short-Term Debt to Total Capital		 88.78% 88.52% 88.66% 88.86% 88.26% 88.24% 87.96% 88.06% - 86.12% 85.13%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 2.85% 3.81%
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%
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%
Common Equity to Total Capital		 11.22% 11.48% 11.34% 11.14% 11.74% 11.76% 12.04% 11.94% - 11.03% 11.06%
Debt to EBITDA		 -90.49 -142.38 -102.33 96.59 153.37 205.60 1,843.27 134.65 - 92.62 47.48
Net Debt to EBITDA		 -85.62 -134.57 -96.28 90.43 143.14 192.79 1,717.01 124.28 - 86.35 44.15
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 2.96 2.03
Debt to NOPAT		 -135.46 -230.80 -162.56 88.31 133.48 183.39 1,039.41 130.98 - 92.05 47.36
Net Debt to NOPAT		 -128.16 -218.14 -152.95 82.68 124.58 171.96 968.21 120.89 - 85.82 44.03
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 2.95 2.03
Noncontrolling Interest Sharing Ratio		 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)		 -337 67 -201 -973 -1,501 -3,065 -2,693 -3,137 - -5,356 -5,368
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%
Free Cash Flow to Firm to Interest Expense		 -6.43 1.31 -3.74 -14.46 -23.50 -49.93 -38.96 -38.49 - -53.15 -51.51
Operating Cash Flow to Interest Expense		 -0.78 0.88 0.36 -0.22 0.27 0.42 0.27 0.34 - 0.48 0.78
Operating Cash Flow Less CapEx to Interest Expense		 -0.78 0.88 0.36 -0.22 0.27 0.42 0.27 0.34 - 0.48 0.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.01 0.03 0.01 0.01 0.00 0.01 - 0.01 0.03
Fixed Asset Turnover		 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		 4,189 4,194 4,904 5,888 5,696 7,276 7,574 9,098 - 12,618 13,031
Invested Capital Turnover		 0.00 0.00 0.01 0.03 0.01 0.01 0.00 0.01 - 0.01 0.03
Increase / (Decrease) in Invested Capital		 364 -47 198 990 1,506 3,082 2,670 3,209 - 5,342 5,457
Enterprise Value (EV)		 3,884 3,976 4,532 5,485 5,293 6,721 6,953 8,283 - 11,807 12,175
Market Capitalization		 365 467 442 586 601 702 748 888 - 1,341 1,399
Book Value per Share		 $8.98 $9.33 $10.49 $9.20 $8.53 $9.17 $8.55 $8.57 - $7.30 $7.18
Tangible Book Value per Share		 $8.98 $9.33 $10.49 $9.20 $8.53 $9.17 $8.55 $8.57 - $7.30 $7.18
Total Capital		 4,189 4,194 4,904 5,888 5,696 7,276 7,574 9,098 - 12,618 13,031
Total Debt		 3,719 3,713 4,348 5,232 5,027 6,420 6,662 8,011 - 11,226 11,589
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 359 496
Net Debt		 3,519 3,509 4,091 4,898 4,692 6,020 6,205 7,394 - 10,466 10,776
Capital Expenditures (CapEx)		 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 1.49 0.00 0.00 0.00 10 0.00 - 5.99 0.00
Net Nonoperating Obligations (NNO)		 3,719 3,713 4,348 5,232 5,027 6,420 6,662 8,011 - 11,226 11,589
Total Depreciation and Amortization (D&A)		 -1.35 -1.22 -1.18 -1.32 -1.16 -0.12 -0.20 -0.20 - -0.17 -0.09
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.61 $0.38 ($0.09) $0.24 $0.04 $0.18 ($0.29) $0.53 $0.82 ($0.11) $0.44
Adjusted Weighted Average Basic Shares Outstanding		 44.65M 51.60M 57.76M 72.38M 65.45M 95.17M 114.45M 136.37M 128.30M 189.26M 200.93M
Adjusted Diluted Earnings per Share		 $0.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M 199.60M
Adjusted Basic & Diluted Earnings per Share		 $0.61 $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		 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M 199.60M
Normalized Net Operating Profit after Tax (NOPAT)		 19 14 -22 12 3.88 12 -24 50 - -14 62
Normalized NOPAT Margin		 15.25% 58.87% 0.00% 56.16% 10.79% 56.14% 0.00% 65.09% - 0.00% 65.07%
Pre Tax Income Margin		 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00% 92.95%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.52 0.39 -0.09 0.26 0.09 0.28 -0.49 0.88 - -0.20 0.86
NOPAT to Interest Expense		 0.52 0.39 -0.06 0.26 0.09 0.28 -0.34 0.88 - -0.14 0.86
EBIT Less CapEx to Interest Expense		 0.52 0.39 -0.09 0.26 0.09 0.28 -0.49 0.88 - -0.20 0.86
NOPAT Less CapEx to Interest Expense		 0.52 0.39 -0.06 0.26 0.09 0.28 -0.34 0.88 - -0.14 0.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -205.87% -352.03% -215.24% 143.57% 245.61% 304.55% 1,977.47% 244.27% - 174.95% 96.80%
Augmented Payout Ratio		 -230.74% -389.84% -237.24% 158.62% 254.80% 306.34% 2,100.45% 256.34% - 181.48% 100.09%

Financials Breakdown Chart

Key Financial Trends

Orchid Island Capital’s latest quarter showed a strong earnings rebound, but the company remains highly leveraged and dependent on financing activity. In Q2 2026, net income attributable to common shareholders was $89.2 million, or $0.44 per basic share, compared with a $20.0 million loss in Q1 2026 and a $33.6 million loss in Q2 2025. The improvement was driven by stronger net interest income and a return to investment gains.

  • Net interest income is trending higher. Q2 2026 net interest income reached $60.0 million, up from $57.1 million in Q1 2026, $23.2 million in Q2 2025 and a $697,000 loss in Q2 2024. This indicates that the company’s investment portfolio is currently generating a more favorable spread over its funding costs.
  • Investment portfolio growth has expanded earning capacity. Trading account securities increased to $12.2 billion in Q2 2026 from $7.1 billion in Q2 2025 and $4.0 billion in Q2 2024. Total assets rose to $13.1 billion from $7.6 billion and $4.9 billion over the same comparisons.
  • Q2 2026 produced a meaningful earnings recovery. Net income improved to $89.2 million from losses in both Q1 2026 and Q2 2025. Total revenue also swung to $96.0 million from negative revenue of $12.6 million in Q1 2026 and negative $28.6 million in Q2 2025.
  • Operating cash flow has remained positive in recent quarters. Net cash from operating activities was $81.6 million in Q2 2026, following $48.6 million in Q1 2026, $48.3 million in Q4 2025 and $28.0 million in Q3 2025. This is an improvement over the negative operating cash flow reported in Q3 2024 and Q4 2023.
  • Liquidity has improved in absolute terms. Cash and restricted cash totaled approximately $813.6 million at the end of Q2 2026, compared with $453.3 million in Q2 2025 and $283.4 million in Q2 2022. Q2 cash and equivalents also increased slightly from Q1 2026.
  • Investment gains remain an important but volatile earnings contributor. Orchid reported $36.0 million of net realized and unrealized investment gains in Q2 2026, reversing a $69.6 million loss in Q1 2026 and a $51.7 million loss in Q2 2025. Similar swings occurred in earlier periods, making reported earnings sensitive to mortgage-backed securities valuations and interest-rate movements.
  • Financing activity continues to fund portfolio expansion. Q2 2026 financing activities generated $178.7 million of cash, while investing activities used $206.8 million. The cash flow statement also includes $222.2 million of net “other financing activities,” a large figure that investors should examine in the company’s filings to understand the underlying borrowing and collateral movements.
  • Leverage remains substantial. Total liabilities were $11.7 billion against $1.4 billion of common equity in Q2 2026, equivalent to roughly 8.1 times equity. Short-term debt alone was $11.1 billion, or approximately 85% of total assets, leaving results highly sensitive to funding costs, repo-market conditions and asset-price changes.
  • Share dilution has accelerated. Weighted-average basic shares outstanding rose to 200.9 million in Q2 2026 from 189.3 million in Q1 2026, 114.5 million in Q2 2025 and 57.8 million in Q2 2024. The company issued $27.8 million of common equity in Q2 2026 and substantially larger amounts in earlier quarters, which can reduce per-share value even when total earnings improve.
  • The dividend remains a significant cash commitment. Orchid paid $63.9 million in common dividends during Q2 2026, compared with $67.2 million in Q1 2026 and $40.3 million in Q2 2025. Although Q2 net income exceeded the dividend cash outlay, the company’s history of losses and volatile investment gains creates uncertainty about the sustainability of future distributions.

Overall, the statements show a larger and more profitable mortgage-investment platform than Orchid had in 2022-24, with net interest income and operating cash flow improving materially. However, the expansion has been accompanied by heavy short-term borrowing and substantial equity issuance. Retail investors should focus on the durability of the interest-rate spread, the stability of book value, future dilution and whether investment gains can support the dividend when market conditions weaken.

09/10/26 06:08 AM ETAI Generated. May Contain Errors.

Orchid Island Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Orchid Island Capital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Orchid Island Capital's net income appears to be on a downward trend, with a most recent value of $159.03 million in 2025, rising from $1.07 million in 2015. The previous period was $37.66 million in 2024. See where experts think Orchid Island Capital is headed by visiting Orchid Island Capital's forecast page.

Over the last 10 years, Orchid Island Capital's total revenue changed from -$31.57 million in 2015 to $179.51 million in 2025, a change of -668.6%.

Orchid Island Capital's total liabilities were at $10.30 billion at the end of 2025, a 103.9% increase from 2024, and a 418.2% increase since 2015.

In the past 10 years, Orchid Island Capital's cash and equivalents has ranged from $57.23 million in 2015 to $665.87 million in 2025, and is currently $665.87 million as of their latest financial filing in 2025.


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Financial statements for NYSE:ORC last updated on 7/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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