ORC FINANCIAL STATEMENTS

Orchid Island Capital Inc. — balance sheet, income statement and cash flow trends

ORCOrchid Island Capital Inc.

🇺🇸 USA · NYSE · Real Estate · REIT - Mortgage

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue339 M $+548.9%

Gross Profit240.8 M $+361.0%

Operating Income302.6 M $+7.6%

EBITDA467.1 M $+66.0%

Net Income122 M $+248.4%

Peer Comparison· REIT - Mortgage

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ORC	548.9%	71.0%	137.8%	36.0%
RYGYO	-7.1%	91.9%	93.0%	470.3%
CIP	0.7%	77.5%	73.9%	59.1%
IIP-UN	-0.0%	68.6%	27.3%	1.9%
RGYAS	31.0%	70.8%	103.8%	129.2%
AIF	-3.6%	63.7%	9.1%	-3.4%
Industry median	19.5%	71.0%	61.0%	13.4%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ORC	548.9%	71.0%	137.8%	36.0%
TWO	-0.2%	88.0%	16.9%	-44.8%
LADR	-13.2%	71.1%	69.0%	13.7%
ARI	7.3%	66.2%	85.9%	17.9%
ABR	97.1%	92.6%	72.9%	9.8%
CIM	105.7%	51.5%	50.9%	3.0%
Industry median	19.5%	71.0%	61.0%	13.4%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity1.4 B $11%
Current Liabilities11.2 B $89%
Long-term Liabilities55.7 M $0%

Key Figures

YoY change

Total Assets12.7 B $+73.5%

Total Liabilities11.3 B $+74.9%

Total Equity1.4 B $+62.6%

Cash & ST Investments915.2 M $+128.0%

Total Debt11.2 B $+74.9%

Net Debt10.5 B $—

Peer Comparison· REIT - Mortgage

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ORC	0.09	806.4%	22.07	11.0%
RYGYO	1.23	8.8%	0.75	83.9%
CIP	0.08	57.7%	8.04	62.1%
IIP-UN	0.08	74.3%	24.80	55.4%
RGYAS	1.88	22.5%	1.52	67.9%
AIF	0.71	52.0%	-0.97	38.0%
Industry median	0.08	461.9%	20.67	15.8%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ORC	0.09	806.4%	22.07	11.0%
TWO	0.09	478.5%	60.48	16.4%
LADR	0.04	278.3%	14.39	25.8%
ARI	0.03	450.3%	13.19	18.0%
ABR	0.13	395.8%	12.43	19.5%
CIM	0.08	516.9%	37.88	15.4%
Industry median	0.08	461.9%	20.67	15.8%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow143.3 M $+200.0%

Capital Expenditures0 $—

Free Cash Flow143.3 M $+200.0%

Dividends Paid-213.4 M $-300.1%

Peer Comparison· REIT - Mortgage

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ORC	42.3%	42.3%	0.0%	117.5%
RYGYO	126.5%	33.3%	2.0%	26.9%
CIP	36.1%	36.1%	0.0%	61.1%
IIP-UN	32.1%	32.1%	8.2%	1,710.6%
RGYAS	29.7%	7.0%	0.5%	23.0%
AIF	20.2%	19.6%	0.6%	-592.0%
Industry median	16.3%	14.1%	0.1%	57.6%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ORC	42.3%	42.3%	0.0%	117.5%
TWO	4.4%	-9.1%	13.5%	-9.8%
LADR	26.9%	26.9%	0.5%	195.9%
ARI	16.3%	3.9%	12.4%	91.2%
ABR	17.7%	16.3%	8.1%	179.5%
CIM	-8.5%	-8.5%	12.0%	-281.8%
Industry median	16.3%	14.1%	0.1%	57.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 8, 26. This content is for informational purposes only and is not investment advice.