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Orchid Island Capital (ORC) Financials

Orchid Island Capital logo
$6.80 +0.03 (+0.37%)
As of 01:47 PM Eastern
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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 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		 -80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Consolidated Net Income / (Loss)		 -80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Net Income / (Loss) Continuing Operations		 -80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Total Pre-Tax Income 		-80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Total Revenue		 -75 125 24 -0.60 22 36 21 -29 78 109 -13
Net Interest Income / (Expense)		 -8.60 -2.79 -2.49 -0.70 0.34 8.14 20 23 27 38 57
Total Interest Income		 50 50 49 53 68 72 81 92 108 132 158
Total Interest Expense		 59 52 51 54 67 64 61 69 82 94 101
Federal Funds Purchased and Securities Sold Interest Expense		 59 52 51 54 67 64 61 69 82 94 101
Total Non-Interest Income		 -67 127 26 0.10 21 28 1.64 -52 51 71 -70
Net Realized & Unrealized Capital Gains on Investments		 -67 127 26 0.10 21 28 1.64 -52 51 71 -70
Total Non-Interest Expense		 4.64 97 3.74 4.38 4.27 30 4.23 5.00 5.44 5.82 7.40
Salaries and Employee Benefits		 0.32 0.31 -0.09 0.29 0.27 0.25 -0.21 0.23 0.22 0.21 1.42
Other Operating Expenses		 4.32 3.76 3.83 4.09 4.00 4.10 4.43 4.77 5.22 5.61 5.98
Basic Earnings per Share		 ($1.68) $0.61 $0.38 ($0.09) $0.24 $0.04 $0.18 ($0.29) $0.53 $0.82 ($0.11)
Weighted Average Basic Shares Outstanding		 47.77M 44.65M 51.60M 57.76M 72.38M 65.45M 95.17M 114.45M 136.37M 128.30M 189.26M
Weighted Average Diluted Shares Outstanding		 52.33M 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M
Weighted Average Basic & Diluted Shares Outstanding		 52.33M 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M
Cash Dividends to Common per Share		 $0.48 $0.47 $0.36 - $0.36 - $0.36 - - - $0.36

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 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		 29 -78 3.33 53 77 1.34 65 56 161 107 36
Net Cash From Operating Activities		 35 -41 45 19 -15 18 26 18 28 48 49
Net Cash From Continuing Operating Activities		 35 -41 45 19 -15 18 26 18 28 48 49
Net Income / (Loss) Continuing Operations		 -80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Consolidated Net Income / (Loss)		 -80 27 20 -4.98 17 5.55 17 -34 72 103 -20
Amortization Expense		 -0.52 -1.35 -1.22 -1.18 -1.32 -1.16 -0.12 -0.20 -0.20 -0.18 -0.17
Non-Cash Adjustments to Reconcile Net Income		 113 -61 23 23 -26 19 15 52 -45 -55 77
Changes in Operating Assets and Liabilities, net		 2.78 -5.58 3.88 2.04 -4.86 -5.47 -6.00 0.54 1.56 -0.42 -8.32
Net Cash From Investing Activities		 -290 711 -39 -681 -878 182 -1,527 -291 -1,323 -2,236 -802
Net Cash From Continuing Investing Activities		 -290 1,182 108 -681 -900 163 -1,491 75 -1,535 -2,425 -782
Purchase of Investment Securities		 -427 -176 -435 -879 -1,082 -419 -1,853 -1,081 -1,535 -3,265 -1,212
Sale and/or Maturity of Investments		 137 1,357 543 198 182 582 362 1,156 - 841 430
Net Cash From Financing Activities		 283 -748 -2.51 715 969 -198 1,566 329 1,455 2,295 789
Net Cash From Continuing Financing Activities		 283 -748 -2.51 715 969 -198 1,566 329 1,455 2,295 789
Issuance of Common Equity		 80 - 13 101 110 36 205 139 152 244 108
Repurchase of Common Equity		 -0.01 -5.47 -2.90 -0.02 -0.52 -0.02 -0.07 -7.28 -0.02 -0.02 -0.66
Payment of Dividends		 -22 -21 -19 -20 -25 -28 -33 -40 -48 -58 -67
Other Financing Activities, Net		 225 -721 5.85 634 885 -205 1,393 237 1,351 2,108 749
Cash Interest Paid		 54 60 47 49 69 69 59 69 73 85 104

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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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 9/30/2025 3/31/2026
Total Assets		 3,806 4,266 4,731 4,937 4,215 4,930 5,916 7,304 7,611 9,139 12,671
Cash and Due from Banks		 214 143 198 159 190 241 322 396 441 584 674
Restricted Cash		 67 43 51 120 13 16 12 3.70 16 33 86
Trading Account Securities		 3,237 4,066 4,463 4,639 3,993 4,653 5,559 6,870 7,119 8,482 11,855
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		 288 14 18 20 18 20 23 32 33 40 55
Total Liabilities & Shareholders' Equity		 3,806 4,266 4,731 4,937 4,215 4,930 5,916 7,304 7,611 9,139 12,671
Total Liabilities		 3,405 3,815 4,241 4,470 3,733 4,374 5,260 6,448 6,699 8,053 11,280
Short-Term Debt		 3,134 3,790 4,216 4,431 3,713 4,348 5,232 6,420 6,662 8,011 10,867
Accrued Interest Payable		 4.42 15 11 16 13 18 16 13 14 22 28
Other Short-Term Payables		 6.71 6.28 7.05 8.40 6.37 7.81 9.40 13 15 18 24
Long-Term Debt		 - - - - - - - - - - 359
Other Long-Term Liabilities		 260 3.37 6.68 15 1.31 0.94 2.65 2.16 4.02 1.47 1.15
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 400 451 490 467 482 556 656 856 912 1,086 1,392
Total Preferred & Common Equity		 400 451 490 467 482 556 656 856 912 1,086 1,392
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		 400 451 490 467 482 556 656 856 912 1,086 1,392
Common Stock		 777 789 818 874 842 922 1,004 1,181 1,271 1,373 1,595
Retained Earnings		 -376 -338 -327 -408 -361 -366 -348 -326 -359 -287 -204
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.02 -0.03 0.01 0.06 0.39 0.33 0.42 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 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		 - - - - - - - - - - 190,693,392.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 190,693,392.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.10
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.86% 218.45% 175.53% 65.94% 128.60% -71.12% -9.21% -4,671.62% 259.07% - -158.83%
EBITDA Growth		 4.57% -26.21% 425.64% -160.13% 119.84% -82.99% -8.37% -448.01% 349.24% - -218.38%
EBIT Growth		 5.18% -22.33% 460.23% -148.58% 121.61% -79.56% -13.42% -574.39% 316.15% - -216.55%
NOPAT Growth		 5.18% -22.33% 460.23% -134.01% 130.88% -79.56% -13.42% -574.39% 316.15% - -181.58%
Net Income Growth		 5.18% -22.33% 460.23% -148.58% 121.61% -79.56% -13.42% -574.39% 316.15% - -216.55%
EPS Growth		 0.00% -34.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Cash Flow Growth		 -66.52% -3,069.41% 1,812.02% 20.83% -141.77% 142.90% -42.72% -4.40% 288.68% - 88.58%
Free Cash Flow Firm Growth		 -156.05% 88.86% -91.79% 53.26% 31.46% -345.74% -4,662.42% -1,239.15% -222.45% - -74.78%
Invested Capital Growth		 38.58% 9.51% -1.12% 4.20% 20.22% 35.95% 73.47% 54.45% 54.51% - 73.42%
Revenue Q/Q Growth		 3.59% 265.00% -24.61% -213.41% 180.96% 66.61% -40.65% -233.89% 371.22% - -111.50%
EBITDA Q/Q Growth		 -886.94% 131.96% -28.01% -133.21% 359.63% -72.60% 287.73% -298.65% 312.84% - -119.50%
EBIT Q/Q Growth		 -881.85% 133.85% -27.10% -125.18% 447.86% -67.99% 208.78% -296.11% 314.66% - -119.30%
NOPAT Q/Q Growth		 -647.30% 148.36% -27.10% -117.62% 596.94% -67.99% 208.78% -237.28% 406.65% - -113.51%
Net Income Q/Q Growth		 -881.85% 133.85% -27.10% -125.18% 447.86% -67.99% 208.78% -296.11% 314.66% - -119.30%
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		 122.29% -215.03% 210.26% -57.14% -176.84% 218.15% 47.19% -28.46% 51.66% - 0.74%
Free Cash Flow Firm Q/Q Growth		 -229.89% 76.28% 120.80% -399.44% -383.75% -54.24% -104.21% 12.11% -16.48% - 8.00%
Invested Capital Q/Q Growth		 4.08% -14.47% 0.45% 16.91% 20.08% -3.27% 27.75% 4.09% 20.12% - 8.59%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 0.00% 20.69% 78.91% 0.00% 74.12% 12.19% 79.64% 0.00% 92.73% - 0.00%
EBIT Margin		 0.00% 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00%
Profit (Net Income) Margin		 0.00% 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 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%
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% 0.00% 2.13% 0.17% 0.73% 0.00% 1.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 2.13% 0.17% 0.73% 0.00% 1.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 18.31% 1.30% 5.53% 0.00% 7.56% - 0.00%
Return on Equity (ROE)		 -7.25% -8.63% -4.93% 0.00% 20.43% 1.47% 6.27% 0.00% 8.56% - 0.00%
Cash Return on Invested Capital (CROIC)		 -32.86% -9.76% 0.74% -4.67% -17.26% -29.71% -53.12% -42.70% -42.02% - -52.48%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 2.11% 0.17% 0.73% 0.00% 0.99% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 2.11% 0.17% 0.73% 0.00% 0.99% - 0.00%
Return on Common Equity (ROCE)		 -7.25% -8.63% -4.93% 0.00% 20.43% 1.47% 6.27% 0.00% 8.56% - 0.00%
Return on Equity Simple (ROE_SIMPLE)		 -6.73% 0.00% -4.77% -6.87% 9.03% 0.00% 4.09% 0.70% 5.63% - 8.76%
Net Operating Profit after Tax (NOPAT)		 -56 27 20 -3.49 17 5.55 17 -24 72 - -14
NOPAT Margin		 0.00% 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.64% 0.00% 0.00% 0.03% 0.00% 0.00% 0.00% 0.18% 0.00% - 0.07%
SG&A Expenses to Revenue		 0.00% 0.25% -0.38% 0.00% 1.25% 0.70% -0.97% 0.00% 0.29% - 0.00%
Operating Expenses to Revenue		 0.00% 78.22% 15.90% 0.00% 19.77% 84.58% 19.80% 0.00% 7.02% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -80 27 20 -4.98 17 5.55 17 -34 72 - -20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -81 26 19 -6.16 16 4.39 17 -34 72 - -20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.67 0.78 0.97 0.79 0.89 0.90 0.82 0.82 0.82 - 0.96
Price to Tangible Book Value (P/TBV)		 0.67 0.78 0.97 0.79 0.89 0.90 0.82 0.82 0.82 - 0.96
Price to Revenue (P/Rev)		 0.00 0.00 0.00 9.62 4.10 11.05 13.43 30.83 11.08 - 9.21
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 9.90 15.96 20.04 116.68 14.52 - 10.99
Dividend Yield		 26.96% 25.81% 18.81% 18.71% 17.52% 18.79% 19.15% 20.54% 20.54% - 20.48%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 10.10% 6.27% 4.99% 0.86% 6.89% - 9.10%
Enterprise Value to Invested Capital (EV/IC)		 0.91 0.93 0.95 0.92 0.93 0.93 0.92 0.92 0.91 - 0.94
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 98.71 38.36 97.29 128.67 286.64 103.29 - 81.09
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 101.26 161.48 215.26 1,923.92 139.21 - 97.41
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 92.58 140.54 192.00 1,084.89 135.41 - 96.81
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 92.58 140.54 192.00 1,084.89 135.41 - 96.81
Enterprise Value to Operating Cash Flow (EV/OCF)		 93.93 485.33 71.46 76.86 633.78 79.01 140.73 148.21 92.33 - 82.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 127.01 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 9.49 7.91 7.71 7.82 7.98 7.52 7.50 7.30 7.38 - 8.07
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.26
Financial Leverage		 8.72 7.82 8.04 8.19 8.61 7.68 7.58 7.50 7.60 - 7.85
Leverage Ratio		 10.08 8.95 9.09 9.24 9.67 8.77 8.61 8.54 8.64 - 8.89
Compound Leverage Factor		 10.08 8.95 9.09 9.24 9.67 8.77 8.61 8.54 8.64 - 8.89
Debt to Total Capital		 90.47% 88.78% 88.52% 88.66% 88.86% 88.26% 88.24% 87.96% 88.06% - 88.97%
Short-Term Debt to Total Capital		 90.47% 88.78% 88.52% 88.66% 88.86% 88.26% 88.24% 87.96% 88.06% - 86.12%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 2.85%
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		 9.53% 11.22% 11.48% 11.34% 11.14% 11.74% 11.76% 12.04% 11.94% - 11.03%
Debt to EBITDA		 -138.69 -90.49 -142.38 -102.33 96.59 153.37 205.60 1,843.27 134.65 - 92.62
Net Debt to EBITDA		 -129.98 -85.62 -134.57 -96.28 90.43 143.14 192.79 1,717.01 124.28 - 86.35
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 2.96
Debt to NOPAT		 -201.42 -135.46 -230.80 -162.56 88.31 133.48 183.39 1,039.41 130.98 - 92.05
Net Debt to NOPAT		 -188.77 -128.16 -218.14 -152.95 82.68 124.58 171.96 968.21 120.89 - 85.82
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 2.95
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)		 -1,420 -337 67 -201 -973 -1,501 -3,065 -2,693 -3,137 - -5,356
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		 -24.18 -6.43 1.31 -3.74 -14.46 -23.50 -49.93 -38.96 -38.49 - -53.15
Operating Cash Flow to Interest Expense		 0.60 -0.78 0.88 0.36 -0.22 0.27 0.42 0.27 0.34 - 0.48
Operating Cash Flow Less CapEx to Interest Expense		 0.60 -0.78 0.88 0.36 -0.22 0.27 0.42 0.27 0.34 - 0.48
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.01 0.03 0.01 0.01 0.00 0.01 - 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
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,898 4,189 4,194 4,904 5,888 5,696 7,276 7,574 9,098 - 12,618
Invested Capital Turnover		 0.00 0.00 0.00 0.01 0.03 0.01 0.01 0.00 0.01 - 0.01
Increase / (Decrease) in Invested Capital		 1,364 364 -47 198 990 1,506 3,082 2,670 3,209 - 5,342
Enterprise Value (EV)		 4,465 3,884 3,976 4,532 5,485 5,293 6,721 6,953 8,283 - 11,807
Market Capitalization		 313 365 467 442 586 601 702 748 888 - 1,341
Book Value per Share		 $10.64 $8.98 $9.33 $10.49 $9.20 $8.53 $9.17 $8.55 $8.57 - $7.30
Tangible Book Value per Share		 $10.64 $8.98 $9.33 $10.49 $9.20 $8.53 $9.17 $8.55 $8.57 - $7.30
Total Capital		 4,898 4,189 4,194 4,904 5,888 5,696 7,276 7,574 9,098 - 12,618
Total Debt		 4,431 3,719 3,713 4,348 5,232 5,027 6,420 6,662 8,011 - 11,226
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 359
Net Debt		 4,153 3,519 3,509 4,091 4,898 4,692 6,020 6,205 7,394 - 10,466
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)		 24 0.00 0.00 1.49 0.00 0.00 0.00 10 0.00 - 5.99
Net Nonoperating Obligations (NNO)		 4,431 3,719 3,713 4,348 5,232 5,027 6,420 6,662 8,011 - 11,226
Total Depreciation and Amortization (D&A)		 -0.52 -1.35 -1.22 -1.18 -1.32 -1.16 -0.12 -0.20 -0.20 - -0.17
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.68) $0.61 $0.38 ($0.09) $0.24 $0.04 $0.18 ($0.29) $0.53 $0.82 ($0.11)
Adjusted Weighted Average Basic Shares Outstanding		 47.77M 44.65M 51.60M 57.76M 72.38M 65.45M 95.17M 114.45M 136.37M 128.30M 189.26M
Adjusted Diluted Earnings per Share		 $0.00 $0.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 52.33M 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.61 $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		 52.33M 51.30M 52.97M 71.34M 78.41M 93.29M 106.67M 126.73M 151.71M 190.69M 200.70M
Normalized Net Operating Profit after Tax (NOPAT)		 -56 19 14 -22 12 3.88 12 -24 50 - -14
Normalized NOPAT Margin		 0.00% 15.25% 58.87% 0.00% 56.16% 10.79% 56.14% 0.00% 65.09% - 0.00%
Pre Tax Income Margin		 0.00% 21.78% 84.10% 0.00% 80.23% 15.42% 80.20% 0.00% 92.98% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.37 0.52 0.39 -0.09 0.26 0.09 0.28 -0.49 0.88 - -0.20
NOPAT to Interest Expense		 -0.96 0.52 0.39 -0.06 0.26 0.09 0.28 -0.34 0.88 - -0.14
EBIT Less CapEx to Interest Expense		 -1.37 0.52 0.39 -0.09 0.26 0.09 0.28 -0.49 0.88 - -0.20
NOPAT Less CapEx to Interest Expense		 -0.96 0.52 0.39 -0.06 0.26 0.09 0.28 -0.34 0.88 - -0.14
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -244.15% -205.87% -352.03% -215.24% 143.57% 245.61% 304.55% 1,977.47% 244.27% - 174.95%
Augmented Payout Ratio		 -321.47% -230.74% -389.84% -237.24% 158.62% 254.80% 306.34% 2,100.45% 256.34% - 181.48%

Financials Breakdown Chart

Key Financial Trends

Orchid Island Capital’s latest quarter shows a sharp earnings reversal from late 2025, but the bigger picture remains highly volatile and heavily dependent on market-driven gains and financing activity. As a mortgage REIT, ORC’s results can swing meaningfully quarter to quarter based on interest rates, spread conditions, leverage, and unrealized marks on its investment portfolio. The first quarter of 2026 was especially weak on the income statement, even though the company continued to generate operating cash flow.

  • Operating cash flow stayed positive in Q1 2026: Net cash from operating activities was $48.6 million, showing the core portfolio still generated cash despite a reported net loss.
  • Liquidity improved versus a year earlier: Cash and equivalents rose to $674.0 million at March 31, 2026, up from $583.9 million at Q3 2025 and $396.4 million at Q1 2025.
  • Total assets expanded substantially: Assets increased to $12.67 billion from $9.14 billion at Q3 2025 and $7.30 billion at Q1 2025, reflecting a much larger balance sheet.
  • Equity rebounded from Q3 2025: Total common equity climbed to $1.39 billion in Q1 2026, up from $1.09 billion in Q3 2025 and $855.9 million in Q1 2025.
  • The portfolio remains almost entirely securities-based: Trading account securities were $11.85 billion, while loans and leases remained at $0, underscoring ORC’s dependence on mortgage-backed securities performance.
  • Financing activity continued to support the balance sheet: Q1 2026 included $789.2 million of net cash from financing activities, which helped offset heavy investing outflows.
  • Dividend coverage remains a key watch item: Q1 2026 basic EPS was -$0.11, while the company paid a $0.36 quarterly dividend per share, suggesting earnings did not cover the payout in the period.
  • Q1 2026 was a loss quarter: Net income attributable to common shareholders was a loss of $19.9 million, versus profit of $103.4 million in Q4 2025.
  • Total revenue turned negative: ORC reported total revenue of -$12.6 million in Q1 2026, driven by a $69.6 million loss on realized and unrealized capital gains on investments.
  • Leverage remains very high: Short-term debt was $10.87 billion versus $1.39 billion of common equity, which highlights the company’s sensitivity to funding costs and asset value changes.

Trend summary: Over the last four years, ORC has shown a pattern typical of mortgage REITs: periods of strong profits can quickly give way to losses when portfolio marks move against the company or funding costs rise. In 2024 and parts of 2025, the company benefited from positive swings in investment gains, but Q1 2026 shows how quickly that can reverse. Revenue quality is uneven because net interest income is often overwhelmed by unrealized gains or losses on the securities portfolio.

Balance sheet trend: ORC has grown its asset base aggressively, but the expansion has come with much higher debt. Equity has also grown from the lows seen in 2024 and 2025, but leverage remains substantial. For investors, that means returns can be attractive when conditions are favorable, but downside risk is also amplified if spreads widen, rates move adversely, or book value weakens.

Bottom line: Orchid Island Capital entered 2026 with more liquidity and a larger balance sheet, but its latest quarter was weak on profitability and showed continued dependence on financing and portfolio marks. Investors should focus on book value trends, dividend sustainability, and the trajectory of interest-rate spreads rather than just headline earnings.

06/01/26 12:07 PM 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. Check out Orchid Island Capital's forecast to explore projected trends and price targets.

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 4/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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