Octave Specialty Group Inc (OSG)
Octave Specialty Group, Inc., an insurance holding company, primarily engages in the specialty property and casualty insurance business in the United States and the United Kingdom. It operates in two segments, Specialty Property and Casualty Insurance; and Insurance Distribution. The Specialty Property and Casualty Insurance segment provides specialty property and casualty program insurance with a focus on commercial and personal liability risks. The Insurance Distribution segment offers property, niche specialty risk, accident and health, miscellaneous specialty, reinsurance, surety, marine and energy, specialty auto, excess and surplus lines commercial package, professional lines, and directors' and officers' insurance. The company was formerly known as Ambac Financial Group, Inc. and changed its name to Octave Specialty Group, Inc. in November 2025. The company was incorporated in 1991 and is headquartered in New York, New York.
- Symbol
- OSG
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Insurance - Specialty
- Market cap
- $197.18M
- 52 week range
- 3.88 - 10.38
Valuation
- Share price
- $4.15 (close of 2026-09-23)
- P/E (TTM)
- -1.19x
- Price to book
- 0.24x
- Price to free cash flow
- -3.17x
- Enterprise value
- $191.03M
- Book value per share
- $18.17
Price performance
| Period | Change |
|---|
| 1 day | -6.11% |
| 5 days | -15.99% |
| 1 month | -8.79% |
| 3 months | -31.29% |
| 6 months | -15.31% |
| Year to date | -46.66% |
| 1 year | -55.09% |
| 3 years | -67.03% |
| 5 years | -70.10% |
| 10 years | -77.86% |
| All time | -79.25% |
Profitability and growth
- Return on equity
- -31.10%
- Return on assets
- -11.65%
- Net margin
- -180.70%
- EBITDA margin
- -134.81%
- Revenue growth
- 55.81%
- Net income growth
- 53.41%
- Free cash flow growth
- -6961.29%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -31.51%
- Net debt to EBITDA
- 0.07x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $143.38M
- EBITDA
- $-193.29M
- Net income
- $-259.09M
- Interest expense
- $18.64M
Income statement by year
| Period end | Revenue | Net income |
|---|
| 2025-12-31 | $143.38M | $-259.09M |
| 2024-12-31 | $92.02M | $-556.09M |
| 2023-12-31 | $51.28M | $4.95M |
| 2022-12-31 | $30.70M | $522.12M |
| 2021-12-31 | $26.00M | $-17.00M |
| 2020-12-31 | $156.00M | $-437.00M |
| 2019-12-31 | $496.00M | $-216.00M |
| 2018-12-31 | $511.00M | $186.00M |
| 2017-12-31 | $622.00M | $-329.00M |
| 2016-12-31 | $506.77M | $74.84M |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|
| 2025-12-31 | -180.70% | -31.10% |
| 2024-12-31 | -604.29% | -55.83% |
| 2023-12-31 | 9.65% | 0.35% |
| 2022-12-31 | 1700.99% | 40.00% |
| 2021-12-31 | -65.38% | -1.55% |
| 2020-12-31 | -280.13% | -38.33% |
| 2019-12-31 | -43.55% | -14.06% |
| 2018-12-31 | 36.40% | 11.39% |
| 2017-12-31 | -52.89% | -20.00% |
| 2016-12-31 | 14.77% | 3.78% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $216.53M | $117.56M |
| 2024-12-31 | $157.21M | - |
| 2023-12-31 | $207.85M | $508.00M |
| 2022-12-31 | $513.33M | $639.00M |
| 2021-12-31 | $431.00M | $2.23B |
| 2020-12-31 | $512.00M | $2.74B |
| 2019-12-31 | $3.34B | $2.82B |
| 2018-12-31 | $3.61B | $2.93B |
| 2017-12-31 | $5.93B | $991.70M |
| 2012-12-31 | $43.84M | $150.17M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-52.28M | $9.71M |
| 2024-12-31 | $762.00K | $9.36M |
| 2023-12-31 | $200.00M | $12.27M |
| 2022-12-31 | $1.33B | $11.23M |
| 2021-12-31 | $-131.00M | $14.00M |
| 2020-12-31 | $-175.00M | $11.00M |
| 2019-12-31 | $-311.00M | $12.00M |
| 2018-12-31 | $-1.54B | $12.00M |
| 2017-12-31 | $-221.00M | $4.00M |
| 2016-12-31 | $830.31M | $5.25M |
Dividend history
- Most recent payment
- 2016-03-16
| Payment date | Dividend per share |
|---|
| 2016-03-16 | $0.08 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-09
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-06 | Jun/2026 | - |
| 2026-05-06 | - | - |
| 2026-02-23 | - | - |
| 2024-08-05 | - | - |
| 2024-05-10 | - | - |
| 2024-05-06 | - | - |
| 2024-03-11 | - | - |
| 2024-03-07 | - | - |
Filings and sources
- Company website
- octavegroup.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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