Latest Ratios: P/E Ratio 5.5x · EV/EBITDA 22.7x · ROE 15.6%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $924M | $509M | $376M | $393M | $545M | $351M | $330M | $334M | $381M | $261M |
| Enterprise Value | $10.5B | $10.4B | $200M | $204M | $188M | $160M | $3.6B | $139M | $225M | $167M | $188M |
| P/E Ratio → | 5.46 | 5.81 | 13.41 | — | — | — | 163.13 | 13.60 | — | 185.60 | 135.38 |
| P/S Ratio | 5.73 | 5.15 | 9.36 | — | — | — | 27.69 | 9.51 | 2.68 | 2.76 | 2.89 |
| P/B Ratio | 0.63 | 0.67 | 0.76 | 0.80 | 0.90 | 0.71 | 0.84 | 0.83 | 0.99 | 0.82 | 0.78 |
| P/FCF | 8.53 | 7.67 | 7.60 | 47.03 | 1.36 | 5.65 | 6.34 | 6.84 | 3.55 | 4.48 | 5.55 |
| P/OCF | 8.53 | 7.67 | 7.60 | 47.03 | 1.36 | 5.65 | 6.34 | 6.84 | 3.55 | 4.48 | 5.55 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 58.18 | 3.67 | — | — | — | 287.79 | 4.00 | 1.81 | 1.21 | 2.08 |
| EV / EBITDA | 22.69 | 22.47 | 0.73 | 1.26 | — | — | 1713.78 | 5.72 | 8.67 | 83.06 | 94.76 |
| EV / EBIT | 66.32 | 22.47 | 0.73 | 1.26 | — | — | — | — | 8.67 | 83.06 | 94.76 |
| EV / FCF | — | 86.70 | 2.98 | 25.55 | 0.65 | 1.66 | 65.86 | 2.88 | 2.40 | 1.96 | 3.99 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 97.8% | 97.8% | 100.0% | 100.0% | 101.2% | 100.0% | 79.7% | 93.1% | 93.7% | 94.9% | 94.6% |
| Operating Margin | 88.6% | 88.6% | — | — | 107.2% | — | 16.8% | 70.0% | 20.9% | 1.5% | 2.2% |
| Net Profit Margin | 88.6% | 88.6% | 69.2% | 189.5% | 107.2% | 129.8% | 16.8% | 70.0% | -35.7% | 1.5% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | 6.6% | -8.6% | -42.8% | -10.9% | 0.5% | 6.6% | -11.1% | 0.5% | 0.7% |
| ROA | 1.8% | 1.8% | 0.8% | -1.0% | -4.7% | -1.2% | 0.1% | 0.7% | -1.2% | 0.1% | 0.1% |
| ROIC | 2.1% | 2.1% | — | — | -62.9% | — | 0.1% | 8.4% | 8.1% | 0.6% | 0.5% |
| ROCE | 11.1% | 11.1% | — | — | -4.7% | — | 0.1% | 1.3% | 0.7% | 0.1% | 0.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 7.47 | 7.47 | — | — | — | — | 8.66 | 0.01 | 0.01 | 0.00 | 0.00 |
| Debt / EBITDA | 22.04 | 22.04 | — | — | — | — | 1689.66 | 0.12 | 0.12 | 0.11 | 0.11 |
| Net Debt / Equity | — | 6.94 | -0.46 | -0.37 | -0.47 | -0.50 | 7.94 | -0.48 | -0.32 | -0.46 | -0.22 |
| Net Debt / EBITDA | 20.48 | 20.48 | -1.13 | -1.06 | — | — | 1548.91 | -7.86 | -4.17 | -106.81 | -37.13 |
| Debt / FCF | — | 79.03 | -4.62 | -21.48 | -0.71 | -3.99 | 59.52 | -3.96 | -1.15 | -2.52 | -1.56 |
| Interest Coverage | 1.52 | 1.52 | 1.16 | 0.81 | -4.19 | -8.13 | 0.08 | 0.29 | 0.37 | 0.05 | 0.13 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | — | — | — | — | — | 0.08 | 18.93 | 13.27 | 0.04 |
| Quick Ratio | 0.09 | 0.09 | — | — | — | — | — | 0.08 | 18.93 | 13.27 | 0.04 |
| Cash Ratio | 0.07 | 0.07 | — | — | — | — | — | 0.06 | 5.97 | 10.50 | 0.03 |
| Asset Turnover | — | 0.02 | 0.01 | -0.00 | -0.06 | -0.01 | 0.00 | 0.01 | 0.04 | 0.03 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 20.6% | 19.4% | 18.2% | 21.5% | 23.8% | 16.7% | 15.3% | 16.2% | 17.8% | 17.8% | 14.1% |
| Payout Ratio | 112.5% | 112.5% | 245.6% | — | — | — | 2520.9% | 219.7% | — | 3383.4% | 1858.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 18.3% | 17.2% | 7.5% | — | — | — | 0.6% | 7.4% | — | 0.5% | 0.7% |
| FCF Yield | 11.7% | 13.0% | 13.2% | 2.1% | 73.6% | 17.7% | 15.8% | 14.6% | 28.2% | 22.3% | 18.0% |
| Buyback Yield | 0.7% | 0.8% | 0.7% | 2.6% | 6.3% | 0.1% | 0.0% | 0.9% | 7.9% | 0.0% | 0.0% |
| Total Shareholder Yield | 21.3% | 20.2% | 18.8% | 24.0% | 30.1% | 16.7% | 15.3% | 17.1% | 25.7% | 17.8% | 14.1% |
| Shares Outstanding | — | $128M | $65M | $45M | $37M | $24M | $13M | $11M | $10M | $8M | $5M |
Repo market liquidity sensitivity
As reported in financial statements, ORC trades at a price-to-book ratio of 0.65, which suggests that the market is pricing in significant potential for further book value erosion despite the company's aggressive efforts to maintain a high dividend yield of 20.1% for its shareholders.
The persistent discount to book value indicates that investors remain wary of the company's ability to generate sustainable returns on equity in the current interest rate environment. This valuation gap warrants further investigation into whether the market is correctly pricing the risk of future equity dilution or if the stock is undervalued relative to its long-term earnings potential.
Based on the company's reported figures, the NOI margin has fluctuated wildly, dropping to 29.1% in 2025Q4 from near-perfect levels, which appears to indicate that property-level profitability is highly susceptible to interest expense spikes and the inherent volatility of the structured Agency RMBS portfolio.
The inconsistency in margin performance suggests that the firm's profitability is driven more by mark-to-market accounting adjustments than by stable, organic income growth. Investors should monitor whether management can stabilize these margins as the interest rate environment evolves, as current levels appear unsustainable for long-term value creation.
According to recent SEC filings, the debt-to-equity ratio reached 8.06 in 2026Q1, reflecting a persistent reliance on high leverage to amplify returns on its Agency RMBS portfolio, which remains a primary source of vulnerability for the firm's long-term capital structure stability and overall risk profile.
This elevated leverage profile leaves the company exposed to margin calls during periods of market stress, particularly given the reliance on short-term repurchase agreements. The firm's ability to manage this debt load appears contingent on maintaining access to repo financing, which may become constrained if market volatility increases.
As indicated by the provided data, the market's reliance on a standard P/E ratio of 5.60 for ORC is deeply misleading, as it fails to account for the non-cash fair value fluctuations and derivative hedging impacts that dominate the company's reported GAAP net income figures.
For an mREIT like ORC, the P/E ratio obscures the underlying economic reality by ignoring the impact of maintenance capital expenditures and the volatility of the security portfolio. Analysts should instead focus on Earnings Available for Distribution or adjusted book value metrics to better assess the true earning power of the underlying assets.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying ORC stock.
Orchid Island Capital, Inc.'s current P/E ratio is 5.5x. The historical average is 90.1x. This places it at the 13th percentile of its historical range.
Orchid Island Capital, Inc.'s current EV/EBITDA is 22.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 27.3x.
Orchid Island Capital, Inc.'s return on equity (ROE) is 15.6%. The historical average is -2.3%.
Based on historical data, Orchid Island Capital, Inc. is trading at a P/E of 5.5x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Orchid Island Capital, Inc.'s current dividend yield is 20.59% with a payout ratio of 112.5%.
Orchid Island Capital, Inc. has 97.8% gross margin and 88.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Orchid Island Capital, Inc.'s Debt/EBITDA ratio is 22.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.