Orchid Island Capital, Inc. (ORC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1250.0%

-$55.60

vs $4.84 price

Levered DCF

-$80.74

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.3

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	5.81×	13.41×	-9.58×	-1.52×	-8.43×	163.13×	13.6×	-7.51×
P/B	0.67×	0.76×	0.8×	0.9×	0.71×	0.84×	0.83×	0.99×
P/S	5.15×	9.36×	-18.19×	-1.63×	-10.93×	27.69×	9.51×	2.68×
EV / EBITDA	22.47×	0.73×	1.26×	0×	-2.77×	0×	0×	8.79×
Gross margin	97.8%	100.0%	100.0%	101.2%	100.0%	79.7%	93.1%	93.7%
Operating margin	88.6%	0.0%	0.0%	107.2%	0.0%	16.8%	70.0%	20.9%
Net margin	88.6%	69.2%	189.5%	107.2%	129.8%	16.8%	70.0%	-35.7%
Current ratio	0.09×	0×	0×	0×	0×	0×	0.08×	18.93×
Debt / equity	7.47×	0×	0×	0×	0×	8.66×	8.77×	0.01×
Interest coverage	0.52×	0×	0×	-4.19×	0×	0.08×	0.29×	0.37×
Dividend yield	19.4%	18.2%	21.5%	23.8%	16.7%	15.3%	16.2%	17.8%
Payout ratio	112.5%	245.6%	-205.9%	-36.2%	-140.5%	2520.9%	219.7%	-133.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	5.6%	-8.3%	-58.9%	-8.4%	0.5%	6.1%	-13.2%
Return on invested capital	1.4%	0.0%	0.0%	0.0%	0.0%	0.1%	0.6%	7.5%
Return on assets	1.4%	0.7%	-0.9%	-6.7%	-0.9%	0.1%	0.6%	-1.3%
Free cash flow yield	13.0%	13.2%	2.1%	73.6%	17.7%	15.8%	14.6%	28.2%
Earnings yield	17.2%	7.4%	-10.4%	-65.7%	-11.9%	0.6%	7.4%	-13.3%
Enterprise value	$10.4B	$199.9M	$204.5M	$187.7M	$160M	$3.6B	$3.6B	$228.3M
Net debt / EBITDA	20.48×	-1.13×	-1.06×	0×	6.68×	0×	0×	-4.05×
Cash conversion cycle (days)	-2,772	155	-264	-1,187	-138	292	0	390