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Orchid 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 to as Agency RMBS. Its portfolio comprises traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS, including interest only securities, inverse interest only securities, and principal only securities. The company has elected to be taxed as a real estate investment trust (REIT) for the United States federal income tax purposes. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to stockholders, if it annually distributes dividends equal to at least 90% of its REIT taxable income to its shareholders. Orchid Island Capital, Inc. was incorporated in 2010 and is headquartered in Vero Beach, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $180M | - | $159M | $120M | 11.6% | 229.9% | 322.3% |
| 2024 | $54M | - | $38M | $67M | 5.6% | - | - |
| 2023 | $-21M | - | $-39M | $8M | -8.3% | - | - |
| 2022 | $-241M | - | $-258M | $289M | -58.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | -241 | -20.70 | 54.41 | 179.51 |
| Pretax Income | -258.45 | -39.23 | 37.66 | 159.03 |
| Net Income | -258.45 | -39.23 | 37.66 | 159.03 |
| Net Income Common Stockholders | -258.45 | -39.23 | 37.66 | 159.03 |
| Interest Expense | 61.71 | 201.92 | 236.28 | 305.73 |
| Interest Income | 144.63 | 177.57 | 241.58 | 414 |
| Selling General And Administration | 2.99 | 3.44 | 2.62 | 2.43 |
| Normalized Income | -258.45 | -39.23 | 37.66 | 159.03 |
| Basic EPS | -6.90 | -0.89 | 0.57 | 1.24 |
| Diluted EPS | -6.90 | -0.89 | 0.57 | 1.24 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0.21 |
| Net Income From Continuing Operation Net Minority Interest | -258.45 | -39.23 | 37.66 | 159.03 |
| Net Interest Income | 82.92 | -24.35 | 5.30 | 108.27 |
| Net Income From Continuing And Discontinued Operation | -258.45 | -39.23 | 37.66 | 159.03 |
| Diluted Average Shares | 37.46 | 44.65 | 65.45 | 128.30 |
| Basic Average Shares | 37.46 | 44.65 | 65.45 | 128.30 |
| Diluted NI Availto Com Stockholders | -258.45 | -39.23 | 37.66 | 159.03 |
| Net Income Including Noncontrolling Interests | -258.45 | -39.23 | 37.66 | 159.03 |
| Net Income Continuous Operations | -258.45 | -39.23 | 37.66 | 159.03 |
| Other Non Operating Income Expenses | -0.83 | -0.71 | 0 | 0 |
| Gain On Sale Of Security | -323.93 | 3.65 | 49.11 | 71.24 |
| General And Administrative Expense | 2.99 | 3.44 | 2.62 | 2.43 |
| Other Gand A | 0.78 | 0.70 | 0.54 | 0.64 |
| Salaries And Wages | 2.21 | 2.74 | 2.08 | 1.79 |
| Operating Revenue | -241 | -20.70 | 54.41 | 179.51 |
| Professional Expense And Contract Services Expense | 1.14 | 1.50 | 1.34 | 1.34 |
| Other Non Interest Expense | 13.32 | 13.60 | 12.79 | 16.71 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Orchid Island Capital, Inc.this co. | ORC | $1.4B | 7.40↓ discount | 0.93 | 11.6% | - |
| American Assets Trust, Inc. | AAT | $1.6B | 17.99 | 1.12 | 6.2% | 10.31 |
| Xenia Hotels & Resorts, Inc. | XHR | $1.6B | 23.51 | 1.31 | 5.6% | 9.71 |
| Forestar Group Inc. | FOR | $1.4B | 8.40 | 0.78 | 9.5% | 5.62 |
| CBL & Associates Properties, Inc. | CBL |
| $1.4B |
| 10.36 |
| 3.64 |
| 37.3% |
| 10.99 |
| UMH Properties, Inc. | UMH | $1.3B | 220.29 | 2.25 | 2.9% | 20.23 |
| Ladder Capital Corp | LADR | $1.3B | 23.30 | 0.90 | 4.3% | - |
| Alexander's, Inc. | ALX | $1.3B | 45.47 | 11.70 | 25.9% | 19.95 |
| RLJ Lodging Trust | RLJ | $1.3B | 827.00 | 0.68 | 1.3% | 11.11 |
| Peer Median | - | 23.40 | 1.21 | 5.9% | 10.99 | |