Orchid Island Capital, Inc. (ORC) 10-Year Financial Performance & Capital Metrics

ORC • • REIT / Real Estate

Real EstateMortgage REITsResidential Mortgage REITsAgency MBS Investors

AboutOrchid Island Capital, Inc., a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities. The company qualifies as a real estate investment trust for federal income tax purposes. Orchid Island Capital, Inc. was incorporated in 2010 and is based in Vero Beach, Florida.Show more

Revenue $54M +362.9%
FFO $38M +196.0%
FFO/Share 0.58 +165.5%
FFO Payout 245.61% +219.3%
FFO per Share 0.58 +165.5%
NOI Margin 100%
FFO Margin 69.22% -63.5%
ROE 6.62% +176.6%
ROA 0.75% +178.2%
Debt/Assets -
Net Debt/EBITDA -
Book Value/Share 10.21 -3.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High NOI margin of 100.0%
✓Trading at only 0.8x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 46.6% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.63%

5Y9.44%

3Y-

TTM479.94%

Profit (Net Income) CAGR

10Y4.39%

5Y9.19%

3Y-

TTM116.77%

EPS CAGR

10Y-26.38%

5Y-23.05%

3Y-

TTM123.13%

ROCE

10Y Avg-0.26%

5Y Avg-2.34%

3Y Avg-4.73%

Latest-

Peer Comparison

Agency MBS Investors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CHMICherry Hill Mortgage Investment Corporation	99.2M	2.70	39.53	263.07%	33.14%	4.54%		0.65
ORCOrchid Island Capital, Inc.	1.49B	8.12	14	362.89%	7.89%	0.7%	4.5%
AGNCAGNC Investment Corp.	12.53B	11.68	12.56	287.65%	92.49%	7.32%	0.69%	0.01
ARRARMOUR Residential REIT, Inc.	2.11B	18.82	-36.90	-46.65%	20.83%	3.03%	12.42%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	67.4M	90.21M	138.17M	124.29M	34.65M	12.67M	-49.89M	-241M	-20.7M	54.41M
Revenue Growth %	0.95%	0.34%	0.53%	-0.1%	-0.72%	-0.63%	-4.94%	-3.83%	0.91%	3.63%
Property Operating Expenses	4.22M	4.84M	6.98M	7.83M	2.38M	2.57M	0	2.87M	0	0
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	0	0	0	0	8.01M	7.97M	-49.89M	14.58M	-20.7M	54.41M
G&A Expenses	0	0	0	0	8.01M	7.97M	2.88M	14.58M	3.44M	2.62M
EBITDA+	1.07M	1.98M	2.01M	25.97M	24.27M	2.13M	0	-258.45M	0	0
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	0	0	0	0	0	0	0	0	0	0
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.07M	1.98M	2.01M	25.97M	24.27M	2.13M	0	-258.45M	0	0
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	7.27M	15.6M	41.67M	70.36M	83.67M	25.06M	7.09M	61.71M	201.92M	236.28M
Interest Coverage	0.15x	0.13x	0.05x	0.37x	0.29x	0.08x	-	-4.19x	-	-
Non-Operating Income	0	0	0	0	24.27M	2.13M	0	-258.45M	0	0
Pretax Income+	1.07M	1.98M	2.01M	-44.39M	24.27M	2.13M	-64.76M	-258.45M	-39.23M	37.66M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.07M	1.98M	2.01M	-44.39M	24.27M	2.13M	-64.76M	-258.45M	-39.23M	37.66M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.96%	0.85%	0.01%	-23.12%	1.55%	-0.91%	-31.43%	-2.99%	0.85%	1.96%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-	-	-	-	-	-	-	-	-	-
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.25	0.40	0.25	-4.25	2.15	0.16	-2.67	-6.90	-0.88	0.58
EPS Growth %	-0.98%	0.6%	-0.38%	-18.01%	1.51%	-0.93%	-17.69%	-1.58%	0.87%	1.66%
EPS (Basic)	0.25	0.40	0.25	-4.25	2.15	0.16	-2.67	-6.90	-0.88	0.58
Diluted Shares Outstanding	4.05M	4.82M	8.21M	10.44M	11.27M	13.44M	24.23M	37.46M	44.65M	65.45M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	2.24B	3.14B	4.02B	3.4B	3.88B	4.06B	7.07B	3.87B	4.26B	5.72B
Asset Growth %	0.35%	0.4%	0.28%	-0.16%	0.14%	0.05%	0.74%	-0.45%	0.1%	0.34%
Real Estate & Other Assets+	-62.44M	-49.88M	-32.25M	0	3.58B	0	-41.9M	-27.36M	-77.6M	-44.24M
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K
Total Current Assets+	66.39M	117.45M	292.76M	343.27M	291.06M	0	0	0	0	0
Cash & Equivalents	57.23M	73.47M	214.36M	108.28M	193.77M	299.51M	385.14M	205.65M	171.89M	309.33M
Receivables	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	32.46M	46.79M	0	97.29M	-309.64M	-404M	-217.17M	-255.98M	-332.37M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Total Liabilities	1.99B	2.81B	3.56B	3.06B	3.49B	3.64B	6.3B	3.43B	3.8B	5.05B
Total Debt+	187.5M	218K	216K	2.99M	3.47B	3.6B	0	0	0	0
Net Debt	130.27M	-73.47M	-214.36M	-108.28M	3.27B	3.3B	-385.14M	-205.65M	-171.89M	-309.33M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Borrowings	1000K	0	0	0	1000K	1000K	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities+	1.99B	2.81B	22.05M	18.13M	3.49B	0	0	0	0	0
Accounts Payable	863K	1.83M	6.52M	6.45M	0	0	788K	9.21M	7.94M	10.75M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	0	-2.81B	-3.56B	-3.06B	0	0	0	0	0	0
Total Equity+	253.25M	332.78M	462.21M	336.08M	395.51M	415.29M	768.1M	438.76M	469.94M	668.5M
Equity Growth %	0.16%	0.31%	0.39%	-0.27%	0.18%	0.05%	0.85%	-0.43%	0.07%	0.42%
Shareholders Equity	253.25M	332.78M	462.21M	336.08M	395.51M	415.29M	768.1M	438.76M	469.94M	668.5M
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	217K	330K	531K	491K	631K	761K	354K	368K	516K	826K
Additional Paid-in Capital	253.04M	332.45M	461.68M	379.98M	415M	432.52M	850.5M	779.6M	849.85M	1.01B
Retained Earnings	0	0	0	-44.39M	-20.12M	-17.99M	-82.75M	-341.21M	-380.43M	-342.77M
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0%	0%	0%	-0.01%	0.01%	0%	-0.01%	-0.05%	-0.01%	0.01%
Return on Equity (ROE)	0%	0.01%	0.01%	-0.11%	0.07%	0.01%	-0.11%	-0.43%	-0.09%	0.07%
Debt / Assets	0.08%	0%	0%	0%	0.89%	0.89%	-	-	-	-
Debt / Equity	0.74x	0.00x	0.00x	0.01x	8.77x	8.66x	-	-	-	-
Net Debt / EBITDA	121.63x	-37.13x	-106.81x	-4.17x	134.97x	1548.91x	-	-	-	-
Book Value per Share	62.48	69.04	56.28	32.19	35.11	30.89	31.70	11.71	10.53	10.21

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+	30.7M	47.05M	85.01M	94M	48.16M	55.37M	96.44M	289.37M	8M	66.99M
Operating CF Growth %	1.64%	0.53%	0.81%	0.11%	-0.49%	0.15%	0.74%	2%	-0.97%	7.37%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.07M	1.98M	2.01M	-44.39M	24.27M	2.13M	-64.76M	-258.45M	-39.23M	37.66M
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation	431K	605K	535K	492K	294K	244K	772K	957K	1.2M	553K
Other Non-Cash Items	30.95M	44.06M	76.64M	136.91M	18.04M	58.12M	168.65M	530.71M	50.32M	33.19M
Working Capital Changes	-1.74M	401K	5.83M	990K	5.56M	-5.11M	-8.22M	16.16M	-4.29M	-4.42M
Cash from Investing+	-645.01M	-911.53M	-802.5M	380.02M	-354.81M	-199.34M	-3.02B	2.44B	-441.06M	-1.42B
Acquisitions (Net)	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	-2.69B	-3.17B	-6.5B	-3.89B	-4.27B	-4.86B	-6.47B	-1B	-1.62B	-2.84B
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-3.75M	2.35M	-4.1M	14.1M	0	-63.26M	0	245.34M	0	0
Cash from Financing+	583.34M	888.95M	869.78M	-594.47M	459.04M	164.82M	3.07B	-2.94B	396.13M	1.48B
Dividends Paid	-38.75M	-36.77M	-67.9M	-59.31M	-53.31M	-53.65M	-90.98M	-93.49M	-80.75M	-92.5M
Common Dividends	-38.75M	-36.77M	-67.9M	-59.31M	-53.31M	-53.65M	-90.98M	-93.49M	-80.75M	-92.5M
Debt Issuance (Net)	1000K	0	0	0	0	1000K	1000K	-1000K	1000K	1000K
Share Repurchases	-10.85M	0	0	-26.42M	-3.02M	-68K	-299K	-24.84M	-9.76M	-3.46M
Other Financing	445.44M	807.39M	740.08M	-508.73M	515.37M	0	514.06M	0	159.44M	0
Net Change in Cash+	-23.18M	24.47M	152.29M	-120.45M	152.39M	20.85M	150.94M	-213.22M	-36.93M	134.76M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	93.14M	69.96M	94.42M	246.71M	126.26M	278.65M	299.51M	450.44M	237.22M	200.29M
Cash at End	69.96M	94.42M	246.71M	126.26M	278.65M	299.51M	450.44M	237.22M	200.29M	335.05M
Free Cash Flow+	30.7M	47.05M	85.01M	94M	48.16M	55.37M	96.44M	289.37M	8M	66.99M
FCF Growth %	1.64%	0.53%	0.81%	0.11%	-0.49%	0.15%	0.74%	2%	-0.97%	7.37%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	0.26	0.41	0.24	-4.25	2.15	0.16	-2.67	-6.9	-0.88	0.58
FFO Payout Ratio	3617.93%	1858.11%	3383.36%	-133.62%	219.69%	2520.91%	-140.49%	-36.17%	-205.87%	245.61%
NOI Margin	93.74%	94.63%	94.95%	93.7%	93.14%	79.71%	100%	101.19%	100%	100%
Net Debt / EBITDA	121.63x	-37.13x	-106.81x	-4.17x	134.97x	1548.91x	-	-	-	-
Debt / Assets	8.36%	0.01%	0.01%	0.09%	89.35%	88.6%	-	-	-	-
Interest Coverage	0.15x	0.13x	0.05x	0.37x	0.29x	0.08x	-	-4.19x	-	-
Book Value / Share	62.48	69.04	56.28	32.19	35.11	30.89	31.7	11.71	10.53	10.21
Revenue Growth	94.83%	33.85%	53.17%	-10.05%	-72.12%	-63.43%	-493.73%	-383.03%	91.41%	362.89%

Frequently Asked Questions

Valuation & Price

Orchid Island Capital, Inc. (ORC) has a price-to-earnings (P/E) ratio of 14.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Orchid Island Capital, Inc. (ORC) reported $81.2M in revenue for fiscal year 2024. This represents a 3878% increase from $2.0M in 2011.

Orchid Island Capital, Inc. (ORC) grew revenue by 362.9% over the past year. This is strong growth.

Yes, Orchid Island Capital, Inc. (ORC) is profitable, generating $6.4M in net income for fiscal year 2024 (69.2% net margin).

Dividend & Returns

Yes, Orchid Island Capital, Inc. (ORC) pays a dividend with a yield of 17.41%. This makes it attractive for income-focused investors.

Orchid Island Capital, Inc. (ORC) has a return on equity (ROE) of 6.6%. This is below average, suggesting room for improvement.

Industry Metrics

Orchid Island Capital, Inc. (ORC) offers a 17.41% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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