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Octave Specialty Group (OSG) Financials

Octave Specialty Group logo
$4.69 +0.20 (+4.45%)
As of 03:58 PM Eastern
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Annual Income Statements for Octave Specialty Group

Annual Income Statements for Octave Specialty Group

This table shows Octave Specialty Group'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		 493 75 -329 186 -216 -437 -17 522 3.63 -556 -259
Consolidated Net Income / (Loss)		 986 74 -329 267 -216 -437 -16 -35 -23 -59 -96
Net Income / (Loss) Continuing Operations		 1,012 74 -328 268 -247 -334 -17 -50 -27 -72 -111
Total Pre-Tax Income 		511 105 -284 273 -183 -440 2.00 -36 -24 -60 -101
Total Revenue		 1,146 382 502 157 196 37 95 19 124 155 149
Net Interest Income / (Expense)		 150 157 218 -242 -73 -119 -187 0.00 0.00 -9.38 -19
Total Interest Income		 266 281 338 0.00 196 103 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 117 124 120 242 269 222 187 0.00 0.00 9.38 19
Long-Term Debt Interest Expense		 117 124 120 242 269 222 187 0.00 0.00 9.38 19
Total Non-Interest Income		 997 226 284 399 269 156 282 19 124 164 167
Trust Fees by Commissions		 - - - - - - - -18 - -41 -37
Other Service Charges		 7.15 18 0.00 5.00 134 3.00 27 31 60 103 139
Net Realized & Unrealized Capital Gains on Investments		 364 10 109 394 69 94 201 -8.33 13 3.52 -1.56
Premiums Earned		 625 197 175 - 66 54 47 14 52 99 67
Total Non-Interest Expense		 188 277 786 -116 411 374 94 71 150 225 255
Property & Liability Insurance Claims		 -769 - 513 -224 13 225 -88 9.07 37 73 47
Other Operating Expenses		 - -11 - -111 - 92 111 56 67 129 192
Amortization Expense		 339 175 151 107 295 57 56 5.46 11 24 16
Income Tax Expense		 -53 31 44 5.00 32 -3.00 18 -0.46 0.99 0.92 5.21
Other Gains / (Losses), net		 - - - - - 0.00 0.00 1.13 - 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - -0.53 0.00 0.00 0.00 0.00 -1.00 0.87 1.32 0.36 2.60
Basic Earnings per Share		 $10.92 $1.66 ($7.25) $4.07 ($4.69) ($9.47) ($0.61) $11.48 $0.18 ($11.96) ($5.93)
Weighted Average Basic Shares Outstanding		 45.17M 45.22M 45.67M 45.67M 45.95M 46.15M 46.54M 45.72M 45.64M 46.97M 47.18M
Diluted Earnings per Share		 $10.72 $1.64 ($7.25) $3.99 ($4.69) ($9.47) ($0.61) $11.48 $0.18 ($11.96) ($5.93)
Weighted Average Diluted Shares Outstanding		 45.17M 45.22M 46.56M 46.56M 45.95M 46.15M 46.54M 45.72M 45.64M 46.97M 47.18M
Weighted Average Basic & Diluted Shares Outstanding		 45.17M 45.22M 45.37M 45.67M 45.58M 45.85M 46.34M 45.29M 45.20M 46.24M 44.95M

Quarterly Income Statements for Octave Specialty Group

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -13 66 -16 21 -1.50 -28 -46 -73 -113 -6.85 -14
Consolidated Net Income / (Loss)		 -13 66 -43 -3.37 -15 -20 -14 0.00 -31 -9.71 0.00
Net Income / (Loss) Continuing Operations		 -18 62 -30 -1.87 -15 -36 -22 -21 -41 -16 -12
Total Pre-Tax Income 		-11 68 -52 -3.24 -15 -21 -15 -23 -32 -3.34 -12
Total Revenue		 35 45 16 41 45 40 39 49 39 209 80
Net Interest Income / (Expense)		 -16 -16 48 3.67 4.15 -3.75 -5.45 -5.57 -6.19 0.27 -2.77
Total Interest Income		 0.00 0.00 - 3.67 4.15 0.00 0.00 0.00 0.00 2.36 0.00
Total Interest Expense		 16 16 -48 0.00 0.00 3.75 5.45 5.57 6.19 2.09 2.77
Long-Term Debt Interest Expense		 16 16 -48 0.00 0.00 3.75 5.45 5.57 6.19 2.09 2.77
Total Non-Interest Income		 51 61 -32 37 41 44 45 55 45 208 83
Other Service Charges		 10 15 21 18 13 23 37 36 36 82 59
Net Realized & Unrealized Capital Gains on Investments		 32 36 -80 3.59 8.30 2.91 2.81 2.61 3.17 2.36 1.94
Premiums Earned		 15 18 4.91 26 27 27 16 16 17 20 22
Total Non-Interest Expense		 51 -18 54 42 60 77 62 82 81 225 104
Salaries and Employee Benefits		 - - - - - - - 7.40 - 14 8.51
Property & Liability Insurance Claims		 7.00 -76 88 19 23 20 10 11 14 20 13
Other Operating Expenses		 36 49 -54 18 28 44 39 41 54 53 51
Depreciation Expense		 - - - - 2.09 - - 10 - 13 13
Amortization Expense		 8.00 9.00 -10 5.56 6.54 12 13 13 13 18 18
Income Tax Expense		 2.00 1.00 -7.99 0.13 -0.03 -0.87 -0.62 -2.17 -1.24 -0.48 0.49
Net Income / (Loss) Discontinued Operations		 - - - - 14 - - -105 - 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 2.32 -0.70 -15 -28 -46 -73 -113 -9.71 -14
Basic Earnings per Share		 ($0.29) $1.44 ($0.24) $0.44 ($0.02) ($0.63) ($1.21) ($1.51) ($2.35) ($0.26) ($0.33)
Weighted Average Basic Shares Outstanding		 45.76M 45.64M 45.64M 45.83M 46.21M 47.69M 47.31M 48.12M 48.11M 45.30M 45.39M
Diluted Earnings per Share		 ($0.29) $1.41 ($0.21) $0.44 ($0.02) ($0.63) ($1.21) ($1.51) ($2.35) ($0.26) ($0.33)
Weighted Average Diluted Shares Outstanding		 45.76M 46.81M 45.64M 45.83M 46.21M 47.69M 47.31M 48.12M 48.11M 45.30M 45.39M
Weighted Average Basic & Diluted Shares Outstanding		 45.30M 45.19M 45.20M 47.44M - - 46.43M 43.81M 43.81M 45.01M 45.05M

Annual Cash Flow Statements for Octave Specialty Group

This table details how cash moves in and out of Octave Specialty Group'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		 0.00 54 529 -541 -2.00 -46 263 -33 -7.74 -239 -162
Net Cash From Operating Activities		 0.00 830 -221 -1,543 -311 -175 -131 0.00 3.72 19 39
Net Cash From Continuing Operating Activities		 0.00 -803 -1,023 1,910 415 110 144 0.00 3.72 19 39
Net Income / (Loss) Continuing Operations		 0.00 149 -329 453 -216 -437 -33 0.00 0.00 0.00 0.00
Depreciation Expense		 - 1.22 1.00 1.00 0.00 1.00 2.00 - 5.23 20 42
Non-Cash Adjustments to Reconcile Net Income		 - 76 -5.00 -102 -107 421 -33 - -1.51 -0.63 -2.46
Net Cash From Investing Activities		 0.00 -453 1,163 1,588 1,000 432 776 -18 -6.95 -244 -218
Net Cash From Continuing Investing Activities		 0.00 -453 1,165 1,589 999 581 776 -18 -6.95 -244 -218
Acquisitions		 - - - 0.00 0.00 74 - -18 -6.95 -244 -218
Net Cash From Financing Activities		 0.00 -319 -412 -585 -691 -303 -657 -14 -4.51 -15 16
Net Cash From Continuing Financing Activities		 0.00 -319 -410 -585 -711 -302 -656 -14 -4.51 -15 16
Issuance of Debt		 - - 0.00 264 12 0.00 1,174 - 0.00 0.00 117
Repurchase of Common Equity		 - -2.72 0.00 0.00 - 0.00 0.00 -14 -4.51 -12 -30
Other Financing Activities, Net		 - -279 -261 -435 -545 -181 -177 - 0.00 -2.97 -71

Quarterly Cash Flow Statements for Octave Specialty Group

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -296 283 393 26 16 434 57 -38 242 7.93 99
Net Cash From Operating Activities		 - 112 97 26 16 -19 0.00 -42 -232 7.55 12
Net Cash From Continuing Operating Activities		 - 1.00 36 26 16 -32 -13 -42 -304 7.55 12
Depreciation Expense		 - - 0.08 1.61 1.61 7.10 9.18 9.74 9.75 12 12
Net Cash From Financing Activities		 - -392 381 0.00 - 145 -2.31 4.04 210 0.38 87
Net Cash From Continuing Financing Activities		 - -393 -30 0.00 - 145 -54 4.04 210 0.38 87
Other Financing Activities, Net		 - - 285 - - -2.37 -2.31 - 64 0.38 44
Cash Interest Paid		 - - - - - - 3.82 - - 0.00 5.87
Cash Income Taxes Paid		 - - - - - - 1.89 - - 1.48 2.23

Annual Balance Sheets for Octave Specialty Group

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

Metric 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		 23,728 - 23,192 14,589 0.00 13,220 12,303 7,973 8,428 8,058 2,223
Restricted Cash		 5.82 - 0.98 19 - 13 5.00 58 31 47 109
Trading Account Securities		 7,782 - 15,863 9,849 - 6,536 5,915 1,481 136 157 416
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
Unearned Premiums Asset		 928 - 639 556 - 440 413 508 321 512 221
Deferred Acquisition Cost		 - - - - - - 0.00 3.00 11 8.57 9.73
Goodwill		 0.00 - - - - 46 46 61 70 418 540
Intangible Assets		 1,212 - 847 719 - 409 362 326 61 345 475
Other Assets		 13,739 - -3,004 7,250 - 6,342 6,077 3,528 7,811 6,571 761
Total Liabilities & Shareholders' Equity		 23,728 - 23,192 14,589 0.00 13,220 12,303 7,973 8,428 8,058 2,223
Total Liabilities		 21,770 - 21,547 18,931 0.00 12,074 11,187 6,647 6,997 6,863 1,137
Short-Term Debt		 2,282 - - 77 - - - - 0.00 150 0.00
Accrued Interest Payable		 359 - 437 376 - 517 576 427 0.00 2.56 1.34
Long-Term Debt		 13,553 - 992 2,929 - 7,063 6,286 3,427 0.00 0.00 118
Claims and Claim Expense		 4,088 - - 1,826 - 1,759 1,570 805 197 349 460
Unearned Premiums Liability		 1,280 - 783 630 - 456 395 372 155 182 187
Other Long-Term Liabilities		 208 - 224 13,093 - 296 261 293 6,653 6,179 371
Redeemable Noncontrolling Interest		 - - - - 0.00 7.00 18 20 17 199 253
Total Equity & Noncontrolling Interests		 1,958 - 1,645 1,633 0.00 1,140 1,098 1,305 1,415 996 833
Total Preferred & Common Equity		 1,685 - 1,381 1,592 0.00 1,080 1,038 1,252 1,362 798 716
Preferred Stock		 0.00 - 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,685 - 1,381 1,592 0.00 1,079 1,038 1,253 1,362 798 716
Common Stock		 191 - 200 219 - 242 257 274 292 331 370
Retained Earnings		 1,478 - 1,234 1,421 - 759 726 1,245 1,246 684 370
Treasury Stock		 -0.12 - -0.47 0.00 - -1.00 -3.00 -13 -17 -28 -33
Accumulated Other Comprehensive Income / (Loss)		 15 - -52 -49 - 79 58 -253 -160 -188 8.48
Noncontrolling Interest		 274 - 264 41 - 60 60 53 53 198 117

Quarterly Balance Sheets for Octave Specialty Group

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

Metric 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		 8,219 8,132 11,823 12,759 8,184 9,256 8,253 8,522 2,148 2,267 2,281
Restricted Cash		 314 319 269 263 - - - - 24 47 131
Trading Account Securities		 1,954 1,979 9,618 10,216 2,269 2,322 628 631 1,633 830 376
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
Unearned Premiums Asset		 402 469 483 516 549 584 209 227 236 233 242
Deferred Acquisition Cost		 4.00 4.00 8.00 12 12 13 9.62 9.41 9.28 16 16
Goodwill		 61 61 70 70 70 434 429 452 445 533 534
Intangible Assets		 321 317 312 293 285 598 345 354 339 458 447
Other Assets		 2,467 2,381 2,004 2,186 386 462 6,566 6,809 619 685 801
Total Liabilities & Shareholders' Equity		 8,219 8,132 7,847 8,429 8,184 9,256 8,253 8,522 2,148 2,267 2,281
Total Liabilities		 6,892 6,809 10,499 11,333 6,748 7,383 7,042 7,304 1,000 1,237 1,265
Short-Term Debt		 - - - - 1,136 1,371 150 150 0.00 0.00 0.00
Accrued Interest Payable		 438 450 462 487 500 515 2.70 2.94 0.00 1.31 0.03
Long-Term Debt		 497 501 3,204 3,437 3,368 3,514 0.00 0.00 0.00 117 155
Claims and Claim Expense		 851 863 850 1,088 890 938 373 384 438 487 499
Unearned Premiums Liability		 389 394 407 429 445 458 181 191 197 199 203
Other Long-Term Liabilities		 -59 23 1,324 1,574 362 554 6,320 6,561 358 427 408
Redeemable Noncontrolling Interest		 20 20 22 17 17 204 185 190 188 196 198
Total Equity & Noncontrolling Interests		 1,307 1,303 1,318 1,418 1,419 1,670 1,026 1,028 959 834 818
Total Preferred & Common Equity		 1,254 1,250 1,265 1,365 1,368 1,465 852 860 843 713 699
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		 1,254 1,251 1,264 1,365 1,368 1,465 852 860 843 713 703
Common Stock		 278 283 286 291 295 328 334 348 368 381 380
Retained Earnings		 1,206 1,191 1,257 1,266 1,265 1,235 681 608 492 364 348
Treasury Stock		 -13 -14 -17 -17 -17 -17 -30 -30 -28 -33 -29
Accumulated Other Comprehensive Income / (Loss)		 -217 -209 -262 -175 -175 -81 -133 -66 12 1.22 3.29
Noncontrolling Interest		 53 53 53 53 51 205 174 169 116 121 119

Annual Metrics And Ratios for Octave Specialty Group

This table displays calculated financial ratios and metrics derived from Octave Specialty Group'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
DEI Shares Outstanding		 45,020,521.00 45,121,788.00 45,251,166.00 45,336,278.00 45,553,840.00 45,809,139.00 - - - - 43,812,035.00
DEI Adjusted Shares Outstanding		 45,020,521.00 45,121,788.00 45,251,166.00 45,336,278.00 45,553,840.00 45,809,139.00 - - - - 43,812,035.00
DEI Earnings Per Adjusted Shares Outstanding		 21.90 1.65 -7.27 5.89 -4.74 -9.54 - - - - -2.19
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1,500.07% -66.64% 31.27% -68.73% 24.84% -81.12% 156.76% -79.83% 550.88% 270.15% -3.99%
EBITDA Growth		 778.94% -66.80% -173.10% 177.46% -93.03% -1,829.41% 115.31% -202.63% 58.94% -303.81% -26.25%
EBIT Growth		 1,242.16% -89.05% -370.41% 196.13% -178.75% -56.74% 100.30% -5,263.90% 53.13% -396.60% -49.97%
NOPAT Growth		 689.80% -86.83% -367.50% 234.81% -147.80% -140.44% 94.81% -56.21% 32.17% -147.08% -68.79%
Net Income Growth		 1,280.33% -92.46% -542.70% 181.16% -180.90% -102.31% 96.34% -120.28% 34.08% -2,547.25% -62.60%
EPS Growth		 0.00% -84.70% -542.07% 155.03% -217.54% -101.92% 93.56% 1,981.97% -98.43% -6,122.22% 50.42%
Operating Cash Flow Growth		 100.00% 0.00% -126.62% -598.19% 79.84% 43.73% 25.14% 100.00% 0.00% -100.00% 104.45%
Free Cash Flow Firm Growth		 0.00% 203.71% -115.87% 249.55% -134.52% -481.72% 109.29% 231.73% 25.93% -98.66% 60.54%
Invested Capital Growth		 0.00% -100.00% 0.00% -150.66% 100.00% 0.00% -9.83% -35.79% -69.88% -6.02% -10.54%
Revenue Q/Q Growth		 0.00% -58.81% 0.00% 0.00% 189.60% 0.00% 0.00% -81.02% -60.27% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% -63.63% 0.00% 0.00% 118.73% 0.00% 0.00% -115.45% -107.77% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% -91.14% 0.00% 0.00% 33.62% 0.00% 0.00% -117.21% -112.81% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 110.92% 0.00% 0.00% -95.37% 0.00% 0.00% -107.51% -108.65% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% -92.67% 0.00% 0.00% -71.62% 0.00% 0.00% -111.15% -111.91% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -64.56% 0.00% 0.00% 0.00% -95.65% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 100.00% 11.68% 0.00% 0.00% 26.14% 3.85% 9.03% -100.00% -84.91% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 184.98% -113.94% 0.00% 66.91% 0.00% 0.00% 0.00% 416.81% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% -100.00% 0.00% 0.00% -100.00% 0.00% 0.00% 44.51% -68.38% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 113.21% 112.68% -62.75% 155.41% 8.67% -794.59% 47.37% -240.96% -15.20% -16.58% -43.11%
EBIT Margin		 83.63% 27.46% -56.57% 173.89% -109.69% -910.81% 1.05% -269.43% -19.40% -26.03% -71.34%
Profit (Net Income) Margin		 86.01% 19.43% -65.54% 170.06% -110.20% -1,181.08% -16.84% -183.89% -18.62% -133.19% -64.47%
Tax Burden Percent		 193.06% 70.76% 115.85% 97.80% 118.03% 99.32% -800.00% 98.71% 95.92% 1,027.67% 94.84%
Interest Burden Percent		 53.27% 100.00% 100.00% 100.00% 85.12% 130.56% 200.00% 69.15% 100.08% 49.79% 95.29%
Effective Tax Rate		 -10.46% 29.24% 0.00% 1.83% 0.00% 0.00% 900.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.34% 0.84% -15.08% 41.20% 0.00% -7.50% -0.21% -0.41% -0.55% -3.02% -5.55%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.67% 0.84% -41.34% 41.30% 0.00% -11.16% -0.21% -0.62% -0.91% -767.17% -24.30%
Return on Net Nonoperating Assets (RNNOA)		 94.37% 6.75% -24.92% -24.91% 0.00% -68.69% -1.21% -2.48% -1.14% -43.80% -2.85%
Return on Equity (ROE)		 100.71% 7.59% -39.99% 16.29% -26.45% -76.20% -1.41% -2.89% -1.69% -46.82% -8.40%
Cash Return on Invested Capital (CROIC)		 -193.66% 200.84% -215.08% 0.00% 0.00% -207.50% 10.13% 43.18% 106.86% 3.19% 5.58%
Operating Return on Assets (OROA)		 8.08% 0.89% -2.45% 1.45% -2.95% -5.10% 0.01% -0.51% -0.30% -1.46% -2.06%
Return on Assets (ROA)		 8.31% 0.63% -2.84% 1.41% -2.96% -6.61% -0.13% -0.35% -0.28% -7.46% -1.86%
Return on Common Equity (ROCE)		 86.64% 6.53% -33.57% 14.77% -25.79% -71.68% -1.32% -2.71% -1.60% -39.54% -5.57%
Return on Equity Simple (ROE_SIMPLE)		 58.53% 0.00% -23.82% 16.77% 0.00% -40.46% -1.54% -2.82% -1.71% -71.77% -13.38%
Net Operating Profit after Tax (NOPAT)		 564 74 -199 268 -128 -308 -16 -25 -17 -42 -71
NOPAT Margin		 49.22% 19.43% -39.60% 170.70% -65.36% -832.43% -16.84% -130.41% -13.59% -9.07% -47.58%
Net Nonoperating Expense Percent (NNEP)		 -5.33% 0.00% 26.26% -0.10% -5.92% 3.65% 0.00% 0.21% 0.37% 764.16% 18.76%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.79% 0.00% 23.62% 8.85% 0.00%
Operating Expenses to Revenue		 16.37% 72.54% 156.57% -73.89% 209.69% 1,010.81% 98.95% 369.43% 119.40% 126.03% 171.34%
Earnings before Interest and Taxes (EBIT)		 959 105 -284 273 -215 -337 1.00 -52 -24 -120 -106
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,298 431 -315 244 17 -294 45 -46 -19 -77 -64
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.38 0.00 0.52 0.49 0.00 0.65 0.72 0.63 0.55 0.70 0.48
Price to Tangible Book Value (P/TBV)		 1.34 0.00 1.35 0.90 0.00 1.13 1.18 0.91 0.61 6.39 0.00
Price to Revenue (P/Rev)		 0.55 2.65 1.44 4.98 5.01 19.04 7.82 40.92 5.97 1.30 2.29
Price to Earnings (P/E)		 1.29 13.56 0.00 4.20 0.00 0.00 0.00 1.50 205.07 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 77.78% 7.37% 0.00% 23.80% 0.00% 0.00% 0.00% 66.57% 0.49% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.94 0.00 0.51 0.00 0.00 0.95 0.96 0.89 0.55 0.76 0.60
Enterprise Value to Revenue (EV/Rev)		 14.57 2.65 2.70 23.86 5.01 210.85 74.76 220.51 6.28 2.22 4.84
Enterprise Value to EBITDA (EV/EBITDA)		 12.87 2.36 0.00 15.35 57.80 0.00 157.83 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 17.42 9.67 0.00 13.72 0.00 0.00 7,102.18 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 29.60 13.66 0.00 13.98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 1.22 0.00 0.00 0.00 0.00 0.00 0.00 3.74 0.00 18.22
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.06 0.00 0.88 0.00 0.00 8.98 1.61 0.24 23.12 10.12
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 8.09 0.00 0.60 1.84 0.00 6.16 5.63 2.59 0.00 0.13 0.11
Long-Term Debt to Equity		 6.92 0.00 0.60 1.79 0.00 6.16 5.63 2.59 0.00 0.00 0.11
Financial Leverage		 8.09 8.09 0.60 -0.60 -1.82 6.16 5.90 3.98 1.24 0.06 0.12
Leverage Ratio		 12.12 12.12 14.10 11.52 8.93 11.53 11.28 8.31 5.95 6.28 4.51
Compound Leverage Factor		 6.45 12.12 14.10 11.52 7.60 15.05 22.56 5.74 5.95 3.12 4.29
Debt to Total Capital		 88.99% 0.00% 37.61% 64.80% 0.00% 86.03% 84.92% 72.12% 0.00% 11.15% 9.77%
Short-Term Debt to Total Capital		 12.82% 0.00% 0.00% 1.66% 0.00% 0.00% 0.00% 0.00% 0.00% 11.15% 0.00%
Long-Term Debt to Total Capital		 76.17% 0.00% 37.61% 63.14% 0.00% 86.03% 84.92% 72.12% 0.00% 0.00% 9.77%
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		 1.54% 0.00% 10.02% 0.88% 0.00% 0.82% 1.05% 1.54% 4.89% 25.17% 30.77%
Common Equity to Total Capital		 9.47% 0.00% 52.38% 34.32% 0.00% 13.14% 14.02% 26.36% 95.11% 63.69% 59.46%
Debt to EBITDA		 12.20 0.00 -3.15 12.32 0.00 -24.02 139.69 -74.20 0.00 -1.96 -1.84
Net Debt to EBITDA		 12.17 0.00 -1.17 11.98 0.00 -23.91 139.58 -72.95 0.00 -1.11 -0.13
Long-Term Debt to EBITDA		 10.44 0.00 -3.15 12.00 0.00 -24.02 139.69 -74.20 0.00 0.00 -1.84
Debt to NOPAT		 28.07 0.00 -4.99 11.22 0.00 -22.93 -392.88 -137.11 0.00 -3.58 -1.66
Net Debt to NOPAT		 27.99 0.00 -1.85 10.91 0.00 -22.82 -392.56 -134.79 0.00 -2.03 -0.12
Long-Term Debt to NOPAT		 24.02 0.00 -4.99 10.93 0.00 -22.93 -392.88 -137.11 0.00 0.00 -1.66
Noncontrolling Interest Sharing Ratio		 13.97% 13.97% 16.05% 9.31% 2.51% 5.93% 6.45% 6.16% 5.16% 15.55% 33.64%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -17,229 17,868 -2,836 4,241 -1,464 -8,517 791 2,624 3,304 44 71
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		 -147.84 143.70 -23.63 17.52 -5.44 -38.36 4.23 0.00 0.00 4.72 3.81
Operating Cash Flow to Interest Expense		 0.00 6.68 -1.84 -6.38 -1.16 -0.79 -0.70 0.00 0.00 0.00 2.12
Operating Cash Flow Less CapEx to Interest Expense		 0.00 6.68 -1.84 -6.38 -1.16 -0.79 -0.70 0.00 0.00 0.00 2.12
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.03 0.04 0.01 0.03 0.01 0.01 0.00 0.02 0.06 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 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,793 0.00 2,637 -1,336 0.00 8,209 7,402 4,753 1,432 1,346 1,204
Invested Capital Turnover		 0.13 0.04 0.38 0.24 -0.29 0.01 0.01 0.00 0.04 0.33 0.12
Increase / (Decrease) in Invested Capital		 17,793 -17,793 2,637 -3,973 1,336 8,209 -807 -2,649 -3,321 -86 -142
Enterprise Value (EV)		 16,701 1,015 1,354 3,747 983 7,802 7,102 4,226 784 1,024 720
Market Capitalization		 634 1,015 723 782 983 705 743 784 745 600 341
Book Value per Share		 $37.42 $0.00 $30.52 $35.12 $0.00 $23.55 $22.42 $27.86 $30.13 $18.06 $16.34
Tangible Book Value per Share		 $10.50 $0.00 $11.80 $19.26 $0.00 $13.62 $13.61 $19.25 $27.23 $1.98 ($6.84)
Total Capital		 17,793 0.00 2,637 4,639 0.00 8,210 7,402 4,752 1,432 1,346 1,204
Total Debt		 15,835 0.00 992 3,006 0.00 7,063 6,286 3,427 0.00 150 118
Total Long-Term Debt		 13,553 0.00 992 2,929 0.00 7,063 6,286 3,427 0.00 0.00 118
Net Debt		 15,793 0.00 367 2,924 0.00 7,030 6,281 3,369 -31 85 8.36
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)		 -422 0.00 130 1.00 88 129 0.00 10 6.28 573 25
Net Nonoperating Obligations (NNO)		 15,835 0.00 992 -2,969 0.00 7,062 6,286 3,428 0.00 150 118
Total Depreciation and Amortization (D&A)		 339 326 -31 -29 232 43 44 5.46 5.24 44 42
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $1.66 $0.00 $4.07 ($4.69) ($9.47) ($0.61) $11.48 $0.18 ($10.84) ($5.93)
Adjusted Weighted Average Basic Shares Outstanding		 45.05M 45.22M 45.12M 45.34M 0.00 46.15M 46.54M 45.72M 45.64M 46.97M 47.18M
Adjusted Diluted Earnings per Share		 $0.00 $1.64 $0.00 $3.99 ($4.69) ($9.47) ($0.61) $11.31 $0.18 ($10.84) ($5.93)
Adjusted Weighted Average Diluted Shares Outstanding		 45.05M 45.22M 45.12M 45.34M 0.00 46.15M 46.54M 46.41M 46.54M 46.97M 47.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($4.69) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.05M 45.22M 45.12M 45.34M 45.58M 45.85M 46.34M 45.29M 45.20M 46.24M 44.95M
Normalized Net Operating Profit after Tax (NOPAT)		 718 74 -199 268 -128 -308 1.40 -25 -17 -42 -71
Normalized NOPAT Margin		 62.60% 19.43% -39.60% 170.70% -65.36% -832.43% 1.47% -130.41% -13.59% -9.07% -47.58%
Pre Tax Income Margin		 44.55% 27.46% -56.57% 173.89% -93.37% -1,189.19% 2.11% -186.30% -19.42% -12.96% -67.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 8.23 0.84 -2.37 1.13 -0.80 -1.52 0.01 0.00 0.00 -12.81 -5.69
NOPAT to Interest Expense		 4.84 0.60 -1.66 1.11 -0.48 -1.39 -0.09 0.00 0.00 -4.47 -3.79
EBIT Less CapEx to Interest Expense		 8.23 0.84 -2.37 1.13 -0.80 -1.52 0.01 0.00 0.00 -12.81 -5.69
NOPAT Less CapEx to Interest Expense		 4.84 0.60 -1.66 1.11 -0.48 -1.39 -0.09 0.00 0.00 -4.47 -3.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 3.66% 0.00% 0.00% 0.00% 0.00% 0.00% -40.34% -19.41% -1.90% -31.25%

Quarterly Metrics And Ratios for Octave Specialty Group

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 9/30/2024 9/30/2024 9/30/2024 3/31/2025 9/30/2025 9/30/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - 47,440,995.00 47,440,995.00 46,427,421.00 46,401,736.00 46,401,736.00 44,951,913.00 45,013,592.00
DEI Adjusted Shares Outstanding		 - - - - 47,440,995.00 47,440,995.00 46,427,421.00 46,401,736.00 46,401,736.00 44,951,913.00 45,013,592.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - -0.42 -0.42 -0.31 -0.66 -0.66 -0.22 0.00
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -5.41% 73.08% 113.96% 231.03% 89.54% -10.73% -3.21% -41.35% -3.15% 428.90% 62.55%
EBITDA Growth		 -144.44% -76.85% 89.52% 112.00% -227.10% -141.06% -3,169.23% -23.09% -8.95% -1.88% 49.47%
EBIT Growth		 -366.67% -81.52% 90.46% 51.52% -73.64% -158.20% -1,172.31% -51.00% -14.42% 25.44% 27.03%
NOPAT Growth		 -254.00% -80.29% 86.50% 6.90% -88.70% -121.69% -366.41% -54.55% -54.55% 77.86% 49.20%
Net Income Growth		 -360.00% -80.59% 88.69% 12.12% -53.00% -130.14% -330.10% -55.04% -55.04% 32.96% 0.00%
EPS Growth		 -363.64% -80.97% -105.36% 13.70% -117.24% -144.68% -375.00% -273.02% -273.02% 78.51% 78.15%
Operating Cash Flow Growth		 0.00% 133.33% 265.10% 0.00% 0.00% -116.60% -100.00% -368.49% -1,148.71% 0.00% 117.23%
Free Cash Flow Firm Growth		 140.05% 60.28% 38.11% -367.56% 48.28% -91.51% 212.14% -164.65% 348.97% -94.88% 97.29%
Invested Capital Growth		 -40.24% 37.67% -69.88% 202.96% 0.00% 49.25% -75.36% 0.00% -83.02% -15.78% 2.04%
Revenue Q/Q Growth		 20.69% 28.57% -65.01% 509.64% 62.80% -10.40% 0.00% -2.41% -21.22% 0.00% -61.51%
EBITDA Q/Q Growth		 68.00% 1,000.00% -162.45% 106.67% -20,029.23% -12.97% 0.00% -155.93% -40.20% 0.00% -168.08%
EBIT Q/Q Growth		 51.52% 493.75% -160.64% 58.12% -1,493.00% -31.97% 0.00% -92.78% -28.24% 0.00% -44.29%
NOPAT Q/Q Growth		 62.07% 970.13% -154.56% 48.30% -540.85% 0.00% 0.00% -112.35% -39.63% 0.00% -249.01%
Net Income Q/Q Growth		 60.61% 607.69% -165.50% 32.92% -490.38% -35.13% 0.00% -112.82% 0.00% 0.00% 100.00%
EPS Q/Q Growth		 60.27% 586.21% -114.89% -200.00% -243.18% -3,050.00% 0.00% -92.62% -55.63% 0.00% -26.92%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -13.03% -100.00% -38.67% -217.71% 0.00% -101.27% -236.28% 0.00% 57.62%
Free Cash Flow Firm Q/Q Growth		 -12.25% -196.04% 380.27% -213.28% 148.85% -224.04% 0.00% -128.16% 503.54% 0.00% -114.86%
Invested Capital Q/Q Growth		 0.00% 148.25% -68.38% 285.98% -100.00% 0.00% 0.00% -15.72% -16.17% 0.00% 2.11%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -22.86% 160.00% -285.53% 3.13% -39.45% -73.59% -10.78% -82.79% -82.78% -2.08% -14.46%
EBIT Margin		 -45.71% 140.00% -242.60% -16.67% -41.88% -91.27% -56.26% -107.83% -107.83% -7.93% -29.73%
Profit (Net Income) Margin		 -37.14% 146.67% -274.54% -30.21% -29.98% -49.51% -36.74% -79.26% -79.26% -4.66% 0.00%
Tax Burden Percent		 118.18% 97.06% 82.79% 107.41% 95.82% 95.82% 95.92% 96.13% 96.13% 290.49% 0.00%
Interest Burden Percent		 68.75% 107.94% 136.70% 168.75% 74.71% 56.61% 68.08% 76.47% 76.47% 20.21% 48.89%
Effective Tax Rate		 0.00% 1.47% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -2.66% 0.00% -9.36% -1.03% 0.00% 0.00% -1.19% -43.60% -2.29% -0.28% -3.06%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.06% 0.00% -9.75% -1.51% 0.00% 0.00% -1.40% 0.00% -2.63% -5.81% 7.45%
Return on Net Nonoperating Assets (RNNOA)		 -3.71% 0.00% -12.13% -1.96% 0.00% 0.00% -1.73% 0.00% -4.25% -0.69% 0.54%
Return on Equity (ROE)		 -6.37% -29.61% -21.49% -2.99% 0.00% 0.00% -2.92% 0.00% -6.54% -0.98% -2.53%
Cash Return on Invested Capital (CROIC)		 69.61% -38.12% 106.86% -101.16% 0.00% -39.52% 119.47% -210.13% 140.33% 12.15% -6.73%
Operating Return on Assets (OROA)		 -1.48% 0.00% -3.69% -0.29% 0.00% 0.00% -0.79% -21.76% -2.96% -0.48% -4.68%
Return on Assets (ROA)		 -1.20% 0.00% -4.18% -0.53% 0.00% 0.00% -0.52% -15.99% -2.18% -0.28% 0.00%
Return on Common Equity (ROCE)		 -5.87% -27.49% -20.38% -2.54% 0.00% 0.00% -2.19% 0.00% -5.00% -0.68% -1.81%
Return on Equity Simple (ROE_SIMPLE)		 37.52% -28.64% 0.00% -1.31% 0.00% 0.00% -8.22% -75.54% -7.86% -12.77% -13.03%
Net Operating Profit after Tax (NOPAT)		 -7.70 67 -37 -19 -15 -15 -11 -22 -22 -2.34 -8.17
NOPAT Margin		 -22.00% 148.89% -232.14% -19.69% -21.90% -36.17% -26.81% -57.72% -57.72% -1.12% -10.18%
Net Nonoperating Expense Percent (NNEP)		 0.40% 0.04% 0.39% 0.49% 0.00% 0.13% 0.21% 0.00% 0.34% 5.52% -10.51%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 14.32% 0.00% 0.00% 0.00% 0.00% 6.71% 10.60%
Operating Expenses to Revenue		 145.71% -40.00% 342.60% 116.67% 141.88% 191.27% 156.26% 207.83% 207.83% 107.93% 129.73%
Earnings before Interest and Taxes (EBIT)		 -16 63 -38 -16 -28 -37 -22 -42 -42 -17 -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -8.00 72 -45 3.00 -26 -30 -4.25 -32 -32 -4.33 -12
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.52 0.43 0.55 0.36 0.00 0.36 0.47 0.46 0.46 0.29 0.40
Price to Tangible Book Value (P/TBV)		 0.74 0.62 0.61 1.23 0.00 1.23 5.20 6.58 6.58 0.00 0.00
Price to Revenue (P/Rev)		 2.19 0.00 5.97 2.77 3.17 0.00 2.64 0.89 2.47 0.66 0.81
Price to Earnings (P/E)		 1.38 2.80 205.07 61.61 34.54 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 72.67% 35.71% 0.49% 1.62% 2.90% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.49 0.71 0.55 0.79 0.00 0.84 0.67 0.49 0.49 0.44 0.53
Enterprise Value to Revenue (EV/Rev)		 3.05 0.00 6.28 22.70 0.00 0.00 5.95 1.30 3.59 1.58 1.78
Enterprise Value to EBITDA (EV/EBITDA)		 1.78 0.00 0.00 235.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 1.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 1.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.68 2.31 3.74 21.76 0.00 0.00 0.00 0.00 0.00 10.69 4.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.53 0.00 0.24 0.00 0.00 0.00 0.22 0.00 0.10 3.30 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.38 2.39 0.00 1.95 0.00 2.61 0.12 0.00 0.00 0.11 0.15
Long-Term Debt to Equity		 0.38 2.39 0.00 1.88 0.00 1.88 0.00 0.00 0.00 0.11 0.15
Financial Leverage		 1.21 2.19 1.24 1.30 0.00 2.51 1.23 0.00 1.62 0.12 0.07
Leverage Ratio		 8.25 8.68 5.95 6.79 0.00 6.56 7.06 1.87 3.77 4.69 2.05
Compound Leverage Factor		 5.67 9.37 8.13 11.46 0.00 3.71 4.80 1.43 2.89 0.95 1.00
Debt to Total Capital		 27.47% 70.51% 0.00% 66.15% 0.00% 72.27% 11.02% 0.00% 0.00% 10.21% 13.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 2.67% 0.00% 20.28% 11.02% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 27.47% 70.51% 0.00% 63.48% 0.00% 51.99% 0.00% 0.00% 0.00% 10.21% 13.28%
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		 4.00% 1.65% 4.89% 7.39% 0.00% 6.05% 26.39% 26.50% 26.50% 27.64% 27.04%
Common Equity to Total Capital		 68.61% 27.82% 95.11% 26.46% 0.00% 21.67% 62.60% 73.50% 73.50% 62.15% 60.01%
Debt to EBITDA		 0.99 -9.66 0.00 197.87 0.00 0.00 -2.36 0.00 0.00 -2.11 -3.53
Net Debt to EBITDA		 0.36 -7.80 0.00 184.36 0.00 0.00 -2.36 0.00 0.00 0.42 -0.55
Long-Term Debt to EBITDA		 0.99 -9.66 0.00 189.87 0.00 0.00 0.00 0.00 0.00 -2.11 -3.53
Debt to NOPAT		 1.07 -12.76 0.00 -235.43 0.00 0.00 -2.99 0.00 0.00 -1.87 -2.85
Net Debt to NOPAT		 0.39 -10.30 0.00 -219.35 0.00 0.00 -2.99 0.00 0.00 0.37 -0.44
Long-Term Debt to NOPAT		 1.07 -12.76 0.00 -225.91 0.00 0.00 0.00 0.00 0.00 -1.87 -2.85
Noncontrolling Interest Sharing Ratio		 7.74% 7.15% 5.16% 15.05% 0.00% 15.09% 24.90% 26.50% 23.60% 30.17% 28.52%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,220 -1,172 3,285 -3,721 1,809 -2,245 4,154 -1,170 5,588 213 -32
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		 76.27 -73.25 0.00 -186.05 483.17 -599.34 761.64 -189.15 903.50 101.68 -11.38
Operating Cash Flow to Interest Expense		 0.00 7.00 0.00 0.00 4.22 -4.97 0.00 -6.86 -37.54 3.61 4.29
Operating Cash Flow Less CapEx to Interest Expense		 0.00 7.00 0.00 0.00 4.22 -4.97 0.00 -6.86 -37.54 3.61 4.29
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.00 0.02 0.02 0.00 0.00 0.01 0.20 0.03 0.06 0.16
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		 1,824 4,528 1,432 5,526 0.00 6,758 1,361 1,147 1,147 1,147 1,171
Invested Capital Turnover		 0.12 0.00 0.04 0.05 0.00 0.00 0.04 0.76 0.04 0.25 0.30
Increase / (Decrease) in Invested Capital		 -1,228 1,239 -3,321 3,702 -1,824 2,230 -4,165 1,147 -5,611 -215 23
Enterprise Value (EV)		 900 3,208 784 4,353 0.00 5,709 914 563 563 503 622
Market Capitalization		 645 546 745 532 532 532 405 387 387 209 281
Book Value per Share		 $27.61 $27.90 $30.13 $30.88 $0.00 $30.88 $18.43 $18.18 $18.18 $15.85 $15.61
Tangible Book Value per Share		 $19.27 $19.47 $27.23 $9.13 $0.00 $9.13 $1.68 $1.27 $1.27 ($6.21) ($6.20)
Total Capital		 1,824 4,544 1,432 5,536 0.00 6,759 1,361 1,147 1,147 1,147 1,171
Total Debt		 501 3,204 0.00 3,662 0.00 4,885 150 0.00 0.00 117 155
Total Long-Term Debt		 501 3,204 0.00 3,514 0.00 3,514 0.00 0.00 0.00 117 155
Net Debt		 182 2,587 -31 3,412 0.00 4,768 150 -128 -128 -23 24
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)		 5.30 1.00 6.68 10 5.36 5.36 3.92 8.38 8.38 7.37 -8.17
Net Nonoperating Obligations (NNO)		 501 3,188 0.00 3,652 0.00 4,884 150 0.00 0.00 117 155
Total Depreciation and Amortization (D&A)		 8.00 9.00 -6.76 19 1.61 7.10 18 9.74 9.75 12 12
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.29) $1.44 ($0.24) ($0.63) $0.00 ($0.63) ($1.22) ($2.35) ($2.35) ($0.26) ($0.33)
Adjusted Weighted Average Basic Shares Outstanding		 45.76M 45.64M 45.64M 47.69M 0.00 47.69M 47.31M 48.11M 48.11M 45.30M 45.39M
Adjusted Diluted Earnings per Share		 ($0.29) $1.41 ($0.21) ($0.63) $0.00 ($0.63) ($1.22) ($2.35) ($2.35) ($0.26) ($0.33)
Adjusted Weighted Average Diluted Shares Outstanding		 45.76M 46.81M 45.64M 47.69M 0.00 47.69M 47.31M 48.11M 48.11M 45.30M 45.39M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.30M 45.19M 45.20M 47.44M 0.00 47.44M 46.43M 43.81M 43.81M 45.01M 45.05M
Normalized Net Operating Profit after Tax (NOPAT)		 -7.70 67 -37 -19 -15 -15 -11 -22 -22 -2.34 -8.17
Normalized NOPAT Margin		 -22.00% 148.89% -232.14% -19.69% -21.90% -36.17% -26.81% -57.72% -57.72% -1.12% -10.18%
Pre Tax Income Margin		 -31.43% 151.11% -331.63% -28.13% -31.29% -51.67% -38.30% -82.45% -82.45% -1.60% -14.54%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.00 3.94 0.00 -0.80 -7.42 -9.79 -4.07 -6.78 -6.78 -7.92 -8.61
NOPAT to Interest Expense		 -0.48 4.19 0.00 -0.95 -3.88 -3.88 -1.94 -3.63 -3.63 -1.12 -2.95
EBIT Less CapEx to Interest Expense		 -1.00 3.94 0.00 -0.80 -7.42 -9.79 -4.07 -6.78 -6.78 -7.92 -8.61
NOPAT Less CapEx to Interest Expense		 -0.48 4.19 0.00 -0.95 -3.88 -3.88 -1.94 -3.63 -3.63 -1.12 -2.95
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -19.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -36.52%

Financials Breakdown Chart

Key Financial Trends

Octave Specialty Group (NYSE: OSG) shows a mixed but improving near-term operating picture, though the business still carries notable balance sheet and earnings volatility. Based on the latest reported Q1 2026 results, the company generated positive operating cash flow, narrowed its quarterly net loss sharply versus the prior year, and ended the period with a solid cash position. At the same time, revenue remains highly reliant on non-interest sources, and profitability can swing materially from quarter to quarter.

  • Operating cash flow turned positive. In Q1 2026, the company generated $7.6 million in net cash from operating activities, a meaningful improvement from the negative $42.4 million reported in Q2 2025.
  • Net loss improved sharply year over year. Q1 2026 consolidated net loss was $9.7 million, better than the $30.8 million loss in Q2 2025 and the $14.5 million loss in Q1 2025.
  • Revenue growth was strong versus early 2025. Total revenue in Q1 2026 reached $208.6 million, up substantially from $39.4 million in Q1 2025 and $38.9 million in Q2 2025.
  • Liquidity improved during the quarter. Cash and due from banks rose to $93.5 million in Q1 2026 from $103.5 million in Q2 2025, while the company also reported $46.6 million of restricted cash.
  • Common equity remained substantial. Total common equity was $712.6 million at the end of Q1 2026, providing a sizeable capital base despite volatility in earnings.
  • Net interest income turned positive. Q1 2026 net interest income was $265,000, versus negative net interest income in several prior quarters.
  • Depreciation and amortization remain meaningful non-cash add-backs. These expenses continue to support reported cash flow, but they also reflect a business with sizable intangible and acquired asset balances.
  • The balance sheet is asset-heavy and complex. Goodwill, intangible assets, trading securities, and “other assets” make up a large share of total assets, which can increase valuation uncertainty.
  • Profitability remains inconsistent. The company posted a pre-tax loss of $3.3 million in Q1 2026 after a larger loss in Q2 2025, showing that earnings are still unstable quarter to quarter.
  • Non-interest expense remains elevated. Q1 2026 total non-interest expense was $225.2 million, driven heavily by current and future benefits, claims, and other operating costs.

Longer-term trend: The historical data shows that Ambac’s results have been highly volatile since 2022. The company moved from very strong earnings and cash generation in parts of 2022 and 2023 to large losses and weaker operating cash flow in 2024 and 2025, before showing some stabilization in Q1 2026. That suggests the turnaround is not yet complete, but there are signs of improvement in cash generation and quarterly earnings.

Bottom line: OSG’s latest quarter looks better than recent periods on cash flow and losses, but investors should still expect swings in performance. The key watch items are whether operating cash flow stays positive, whether expense growth can be controlled, and whether the company can sustain profitability without relying on volatile investment or non-interest income.

09/03/26 07:12 PM ETAI Generated. May Contain Errors.

Octave Specialty Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Octave Specialty Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Octave Specialty Group's net income appears to be on a downward trend, with a most recent value of -$95.80 million in 2025, falling from $986.10 million in 2015. The previous period was -$58.92 million in 2024. Find out what analysts predict for Octave Specialty Group in the coming months.

Over the last 10 years, Octave Specialty Group's total revenue changed from $1.15 billion in 2015 to $148.60 million in 2025, a change of -87.0%.

Octave Specialty Group's total liabilities were at $1.14 billion at the end of 2025, a 83.4% decrease from 2024, and a 94.8% decrease since 2015.

Over the last 10 years, Octave Specialty Group's book value per share changed from 37.42 in 2015 to 16.34 in 2025, a change of -56.3%.


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Financial statements for NYSE:OSG last updated on 9/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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