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INTRODUCTION Octave Specialty Group, Inc. ("OSG"), headquartered in New York City, is a financial services holding company incorporated in the State of Delaware on April 29, 1991 and was formerly known as Ambac Financial Group, Inc. ("AFG"). In the fourth quarter of 2025, AFG changed its name and rebranded as OSG in connection with the sale of its Legacy Financial Guarantee business.
The institution is unprofitable. This typically signals severe credit losses or a business in transition.
Revenue grew 6.5% YoY.
Traditional FCF and operating-margin metrics are not meaningful for financial institutions. Evaluate using net interest margin, credit quality, and capital ratios instead.
Profitability & Returns
Revenue (TTM)
$293M
▲ +6.5% YoY
Net Income (TTM)
-$220M
▲ +53.4% YoY
Net Margin
-75.03%
P/E
—
Balance Sheet
Total Assets
$2.27B
Equity
$713M
Total Debt
$117M
Cash & Equiv.
$323M
5Y CAGR: -12.7%
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