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.
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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.
Quality Score breakdown
Overall quality46/100
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Profitability3
How much profit the company makes from its sales and capital
Quality Growth52
Are margins and returns getting better?
Cashflow25
Do the profits arrive as real cash?
Financial strength48
Debt, balance sheet and risk of trouble
Investment100
Does it invest with discipline instead of growing at any price?
Low Volatility38
How calm the share price moves, does not count
Momentum23
Price trend of the last 3 to 12 months, does not count
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.26/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+67.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.0%
Start year 2020 (pandemic). Over 10 years: −9.0% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−282.1% (2020) → −40.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Specialty · 26 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Bottom 25%
Profitability
Return on assets−10.8% · Bottom 25%
Net margin (12 months)−51.1% · Bottom 25%
Operating margin (12 months)−8.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)51.0% · Top 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Insurance - Specialty median · lower = cheaper
P/B0.30× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
Octave Specialty Group, Inc. has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Octave Specialty Group, Inc. (OSG)?
Octave Specialty Group, Inc. reported trailing-twelve-month revenue of about $321M (latest available figure, as of Sep 13, 2026).
How solid is the balance sheet of Octave Specialty Group, Inc. (OSG)?
Balance-sheet figures for Octave Specialty Group, Inc. (as of Sep 13, 2026): return on equity −6.8%, debt of 0.16 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
Which stocks are comparable to Octave Specialty Group, Inc.?
From the same area (Financial Services) we also value Fidelity National Financial, Inc, Medibank Private Limited, AXIS Capital Holdings, First American Financial Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
What is the share price of Octave Specialty Group, Inc. (OSG)?
The closing price on Oct 23, 2026 was $4.75. We carry closing prices from our data provider, not a live tick.
Key figures of Octave Specialty Group, Inc.
How large is the market capitalisation of Octave Specialty Group, Inc. (OSG)?
The market capitalisation of Octave Specialty Group, Inc. is $215M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Octave Specialty Group, Inc. (OSG)?
The price-to-sales ratio of Octave Specialty Group, Inc. is 0.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Octave Specialty Group, Inc. (OSG)?
Earnings per share at Octave Specialty Group, Inc. are $−1.95. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Octave Specialty Group, Inc. (OSG)?
The net margin of Octave Specialty Group, Inc. is −95.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Octave Specialty Group, Inc. (OSG)?
The return on equity (ROE) of Octave Specialty Group, Inc. is −6.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Octave Specialty Group, Inc. (OSG)?
On an EBIT basis the return on assets of Octave Specialty Group, Inc. is −1.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Octave Specialty Group, Inc. (OSG)?
The operating margin of Octave Specialty Group, Inc. is −8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Octave Specialty Group, Inc. (OSG)?
Revenue at Octave Specialty Group, Inc. is growing +51.0% versus a year earlier (3y avg +67.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Octave Specialty Group, Inc. (OSG) generate?
The free cash flow of Octave Specialty Group, Inc. is −$52.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Octave Specialty Group, Inc. (OSG) carry?
The net debt of Octave Specialty Group, Inc. is $49.1M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Sep 13, 2026