Ambac Financial Group, Inc. (AMBC) 10-Year Financial Performance & Capital Metrics

AMBC • • Insurance & Managed Care

Financial ServicesSpecialty InsuranceFinancial Guaranty InsuranceFinancial Guaranty Monoline Insurers

AboutAmbac Financial Group, Inc., a financial services holding company, provides financial guarantees in the United States, the United Kingdom, Italy, Austria, Australia, France, and Internationally. It offers financial guarantee insurance policies; specialty property & casualty program insurance; credit derivative contracts; and interest rate derivative transactions, as well as managing general agency / underwriting services. The company was incorporated in 1991 and is headquartered in New York, New York.Show more

Revenue $236M +89.1%
Combined Ratio 125.38% +5.0%
Net Income -$556M -15420.7%
Return on Equity -42.36% -16176.1%
Medical Cost Ratio 58.17% -5.5%
Operating Margin -25.38% -30.7%
Net Margin -235.97% -8203.5%
ROA -6.75% -15337.7%
Equity / Assets 14.84% -12.7%
Book Value per Share 25.45 -17.3%
Tangible BV/Share 9.21 -67.0%
Debt/Equity 0.13 -94.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Low loss ratio of 58.2%
✓Trading at only 0.2x book value

✗Weaknesses

✗Unprofitable underwriting: 125.4% combined ratio
✗Weak 3Y average ROE of 0.2%
✗Weak momentum: RS Rating 11 (bottom 11%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-5.23%

5Y-13.82%

3Y-1.53%

TTM-59.3%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-3126.06%

EPS CAGR

10Y-17.98%

5Y-

3Y-

TTM-886.72%

ROCE

10Y Avg-0.33%

5Y Avg-0.94%

3Y Avg-0.46%

Latest-0.74%

Peer Comparison

Financial Guaranty Monoline Insurers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AGOAssured Guaranty Ltd.	3.95B	85.56	12.45	-19.8%	42.14%	7.01%	1.19%	0.31
AMBCAmbac Financial Group, Inc.	276.45M	6.31	4.44	89.06%	-7.87%	-67.99%	0.28%	0.13
MBIMBIA Inc.	354.47M	7.02	-0.75	5%	-195.51%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	644.58M	501.93M	616M	508M	496M	156M	247M	53.61M	124.73M	235.81M
Revenue Growth %	0.6%	-0.22%	0.23%	-0.18%	-0.02%	-0.69%	0.58%	-0.78%	1.33%	0.89%
Medical Costs & Claims+	-768.71M	-11.49M	513M	-223M	13M	225M	-72M	29.25M	76.73M	137.17M
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	1.41B	513.42M	103M	731M	483M	-69M	319M	24.36M	47.99M	98.65M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.49%	-0.64%	-0.8%	6.1%	-0.34%	-1.14%	5.62%	-0.92%	0.97%	1.06%
Operating Expenses+	903.23M	408.39M	388M	457M	666M	371M	320M	60.07M	72.22M	158.49M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	172.77M	175.83M	152M	108M	295M	58M	57M	3.79M	5.23M	19.95M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	510.06M	105.03M	-285M	274M	-183M	-440M	-1M	-35.71M	-24.22M	-59.84M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.03%	-0.79%	-3.71%	1.96%	-1.67%	-1.4%	1%	-34.71%	0.32%	-1.47%
EBITDA+	682.83M	280.85M	-133M	382M	112M	-382M	56M	-31.91M	-18.99M	-39.9M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	116.54M	124.34M	120M	242M	269M	222M	187M	0	0	9.38M
Non-Operating Income	-116.54M	-124.34M	-121M	-241M	-269M	-222M	-190M	0	0	-9.38M
Pretax Income+	510.06M	105.03M	-284M	273M	-183M	-440M	2M	-35.71M	-24.22M	-59.84M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	17.36M	30.71M	44M	5M	32M	-3M	18M	-462K	-989K	-924K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	493.4M	74.84M	-329M	267M	-216M	-437M	-17M	521.25M	3.63M	-556.45M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	-0.85%	-5.4%	1.81%	-1.81%	-1.02%	0.96%	31.66%	-0.99%	-154.21%
EPS (Diluted)+	10.72	1.64	-7.25	5.74	-4.68	-9.47	-0.60	11.31	0.17	1.42
EPS Growth %	0.04%	-0.85%	-5.42%	1.79%	-1.82%	-1.02%	0.94%	19.85%	-0.98%	7.35%
EPS (Basic)	10.92	1.66	-7.25	5.86	-4.68	-9.47	-0.60	11.48	0.18	1.42
Diluted Shares Outstanding	46.01M	45.72M	45.37M	46.56M	45.95M	46.15M	46.53M	46.41M	46.54M	46.97M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	23.73B	22.64B	23.19B	14.59B	13.32B	13.22B	12.3B	7.97B	8.43B	8.06B
Asset Growth %	-0.06%	-0.05%	0.02%	-0.37%	-0.09%	-0.01%	-0.07%	-0.35%	0.06%	-0.04%
Total Investment Assets+	19.95B	19.88B	20.22B	11.1B	9.58B	9.89B	7.43B	5.83B	354.05M	312.92M
Long-Term Investments	7.86B	8.61B	8.12B	6.28B	6.35B	6.16B	5.6B	3.93B	335.73M	28.29M
Short-Term Investments	5.27B	5.99B	5.21B	3.55B	3.23B	2.81B	1.83B	1.9B	335.73M	284.62M
Total Current Assets+	261.53B	521.81M	1.18B	6.11B	5.74B	0	4.32B	2.6B	0	898.99M
Cash & Equivalents	35.74M	91.03M	623.7M	63.09M	24M	20M	17M	30M	19.22M	47.27M
Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	3.95B	-5.46B	3.12B	1.65B	-685.67M	0
Goodwill & Intangibles+	1.21B	962.08M	846.97M	718.93M	427M	455M	408M	387M	131.1M	763.01M
Goodwill	0	0	0	0	0	46M	46M	61M	69.69M	418.23M
Intangible Assets	1.21B	962.08M	846.97M	718.93M	427M	409M	362M	326M	61.4M	344.77M
PP&E (Net)	-631.34M	-523.66M	-285.09M	6.79B	25M	0	23M	21M	0	18.11M
Other Assets	1.2T	-8.61B	-8.12B	-7B	-176M	-6.62B	-6.01B	-4.32B	-466.83M	6.35B
Total Liabilities	21.77B	20.66B	21.55B	12.96B	11.78B	12.07B	11.19B	6.65B	7B	6.86B
Total Debt+	13.45B	12.27B	13.15B	8.2B	7.38B	7.23B	6.45B	3.75B	3.48B	150M
Net Debt	13.42B	12.18B	12.53B	8.13B	7.35B	7.21B	6.43B	3.72B	3.46B	102.72M
Long-Term Debt	13.45B	12.27B	13.15B	8.2B	7.38B	7.23B	6.45B	3.75B	3.48B	0
Short-Term Debt	0	0	0	0	0	0	790M	670M	0	150M
Total Current Liabilities+	53.49M	42.53M	37.88M	32.91M	29M	0	33M	39M	0	205.56M
Accounts Payable	53.49M	42.53M	37.88M	33M	29M	27M	33M	39M	29.67M	53M
Deferred Revenue	-46.86M	-39.83M	0	0	-506M	0	-757M	-631M	0	0
Other Current Liabilities	-97.16M	-18.06M	-39.81M	-33M	506M	-544M	-609M	-466M	-36.6M	0
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0	1000K
Other Liabilities	8.31B	8.39B	8.39B	4.72B	0	-7.26B	0	2.9B	-3.48B	6.59B
Total Equity+	1.96B	1.98B	1.65B	1.63B	1.54B	1.15B	1.12B	1.32B	1.43B	1.2B
Equity Growth %	0.17%	0.01%	-0.17%	-0.01%	-0.06%	-0.25%	-0.03%	0.19%	0.08%	-0.16%
Shareholders Equity	1.68B	1.71B	1.38B	1.59B	1.48B	1.08B	1.04B	1.25B	1.36B	856.91M
Minority Interest	273.55M	264.11M	264.11M	41.15M	60M	67M	78M	73M	70.04M	338.62M
Retained Earnings	1.48B	1.56B	1.23B	1.42B	1.2B	759M	726M	1.25B	1.25B	742.18M
Common Stock	450K	452K	453K	454K	0	0	0	0	467K	489K
Accumulated OCI	15.21M	-38.99M	-52.24M	-48.72M	42M	79M	58M	-253M	-160.05M	-188.44M
Return on Equity (ROE)	0.27%	0.04%	-0.18%	0.16%	-0.14%	-0.33%	-0.02%	0.43%	0%	-0.42%
Return on Assets (ROA)	0.02%	0%	-0.01%	0.01%	-0.02%	-0.03%	-0%	0.05%	0%	-0.07%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	6.87x	6.20x	7.99x	5.02x	4.80x	6.31x	5.78x	2.83x	2.43x	0.13x
Book Value per Share	42.57	43.26	36.26	35.08	33.45	24.86	23.98	28.55	30.76	25.45
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	87.54M	843.54M	-212.77M	-1.54B	-311M	-175M	-131M	70.37M	200M	762K
Operating CF Growth %	1.09%	8.64%	-1.25%	-6.25%	0.8%	0.44%	0.25%	1.54%	1.84%	-1%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	492.69M	74.32M	-328.71M	267.4M	-216M	-437M	-16M	-35.24M	4M	-58.92M
Depreciation & Amortization	172.77M	175.83M	151.85M	107.98M	295M	58M	57M	3.79M	31M	19.95M
Stock-Based Compensation	3.1M	5.25M	4.29M	11.85M	12M	11M	14M	11.23M	17M	9.36M
Deferred Taxes	260K	9.24M	5.67M	-28.93M	36M	8M	2M	0	0	0
Other Non-Cash Items	367.53M	-212.99M	-186.03M	-188.81M	-101M	17M	-93M	64.42M	18M	15.36M
Working Capital Changes	-948.82M	791.89M	140.17M	-1.71B	-337M	168M	-95M	26.17M	130M	15.02M
Cash from Investing+	-172.6M	-714.64M	928.77M	1.59B	1B	432M	776M	-41.16M	435M	-166.37M
Capital Expenditures	0	0	0	0	0	-178M	0	0	0	0
Acquisitions	0	0	0	348.87M	543M	104M	0	-18.44M	-7M	-229.66M
Purchase of Investments	-2.37B	-3.06B	-2.48B	-541.75M	-1.31B	-1.45B	-470M	-96.66M	-495M	-62.99M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-13M	30.41M	106.05M	-57.35M	99M	178M	175M	2.33M	396M	-3.75M
Cash from Financing+	46.9M	-69.71M	-182.12M	-585.38M	-691M	-303M	-657M	-19.23M	-423M	194.22M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-1M	-1M	-3M	-3M	-6M	-14.22M	-5M	-11.7M
Stock Issued	-5.37M	-2.71M	0	3K	0	0	0	0	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0	-1000K	1000K
Other Financing	-5.37M	-20.68M	-313M	-350.03M	-522M	-179M	-184M	2.98M	-321M	58.92M
Net Change in Cash+	-38.16M	55.28M	532.68M	-541.19M	-2M	-46M	-12M	9.97M	213M	28.05M
Exchange Rate Effect	-1000K	-1000K	-1000K	-403K	0	0	0	0	1000K	-558K
Cash at Beginning	73.9M	35.74M	91.03M	624.68M	83M	81M	35M	9.97M	61M	19.22M
Cash at End	35.74M	91.03M	623.7M	83.49M	81M	35M	23M	19.94M	274M	47.27M
Free Cash Flow+	87.54M	843.54M	-212.77M	-1.54B	-311M	-353M	-131M	70.37M	200M	762K
FCF Growth %	1.09%	8.64%	-1.25%	-6.25%	0.8%	-0.14%	0.63%	1.54%	1.84%	-1%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	1.9	18.45	-4.69	-33.15	-6.77	-7.65	-2.82	1.52	4.3	0.02

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	20.87%	79.08%	146.27%	46.06%	136.9%	382.05%	100.4%	166.6%	119.42%	125.38%
Medical Cost Ratio	-119.26%	-2.29%	83.28%	-43.9%	2.62%	144.23%	-29.15%	54.55%	61.52%	58.17%
Return on Equity (ROE)	27.17%	3.8%	-18.16%	16.29%	-13.63%	-32.56%	-1.5%	42.71%	0.26%	-42.36%
Return on Assets (ROA)	2.02%	0.32%	-1.44%	1.41%	-1.55%	-3.29%	-0.13%	5.14%	0.04%	-6.75%
Equity / Assets	8.25%	8.74%	7.09%	11.19%	11.54%	8.68%	9.07%	16.62%	16.99%	14.84%
Book Value / Share	42.57	43.26	36.26	35.08	33.45	24.86	23.98	28.55	30.76	25.45
Debt / Equity	6.87x	6.20x	7.99x	5.02x	4.80x	6.31x	5.78x	2.83x	2.43x	0.13x
Revenue Growth	59.79%	-22.13%	22.73%	-17.53%	-2.36%	-68.55%	58.33%	-78.29%	132.65%	89.06%

Revenue by Segment

	2012	2021	2022	2024
Property	-	-	-	5.12M
Property Growth	-	-	-	-
Reinsurance	-	-	-	1.64M
Reinsurance Growth	-	-	-	-
Affinity Products	-	18M	19M	-
Affinity Products Growth	-	-	5.56%	-
Employer Stop Loss	-	8M	9M	-
Employer Stop Loss Growth	-	-	12.50%	-
Other Income From Revenue From Contract with Customer	-	-	-	-
Other Income From Revenue From Contract with Customer Growth	-	-	-	-
Financial Guarantee	5.19M	-	-	-
Financial Guarantee Growth	-	-	-	-
Corporate And Other	645K	-	-	-
Corporate And Other Growth	-	-	-	-
Intersegment Elimination	-842K	-	-	-
Intersegment Elimination Growth	-	-	-	-
Financial Services	-4.99M	-	-	-
Financial Services Growth	-	-	-	-

Revenue by Geography

	2012	2021	2022	2024
UNITED STATES	-	-	-	212.6M
UNITED STATES Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Ambac Financial Group, Inc. (AMBC) has a price-to-earnings (P/E) ratio of 4.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Ambac Financial Group, Inc. (AMBC) grew revenue by 89.1% over the past year. This is strong growth.

Ambac Financial Group, Inc. (AMBC) reported a net loss of $780.2M for fiscal year 2024.

Dividend & Returns

Ambac Financial Group, Inc. (AMBC) has a return on equity (ROE) of -42.4%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Ambac Financial Group, Inc. (AMBC) has a combined ratio of 125.4%. A ratio above 100% means claims and expenses exceed premiums.

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