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Mbia vs Octave Specialty: revenue, profit, margins and growth compared

Mbia brought in $80M of revenue in fiscal 2025, Octave Specialty $251.2M in fiscal 2025. Revenue changed by +90.5% at Mbia and +6.5% at Octave Specialty on the year before, so Mbia grew faster. Mbia kept -221.3% of its revenue as net profit, Octave Specialty -103.1%.

Side by side, latest fiscal year

MBIOSG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$80M$251.2M
Revenue growth+90.5%+6.5%
Net income-$177M-$259.1M
Net margin-221.3%-103.1%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)-$3.58-$5.93
Cash$71M$68.4M
Debtn/a$117.6M
Price to earningsn/an/a
Market value$224M$188.8M
Dividend yieldn/an/a
Rank by revenue in sector#335 of 444 · Finance#288 of 444 · Finance

Over the years

Revenue
MBI FY2018: $317MMBI FY2019: $280MMBI FY2020: $282MMBI FY2021: $189MMBI FY2022: $154MMBI FY2023: $7MMBI FY2024: $42MMBI FY2025: $80MOSG FY2018: $511MOSG FY2019: $496MOSG FY2020: $156MOSG FY2021: $282MOSG FY2022: $53.6MOSG FY2023: $124.7MOSG FY2024: $235.8MOSG FY2025: $251.2MFY18FY19FY20FY21FY22FY23FY24FY25
MBI $80MOSG $251.2M
Net income
MBI FY2018: -$296MMBI FY2019: -$359MMBI FY2020: -$578MMBI FY2021: -$445MMBI FY2022: -$195MMBI FY2023: $477MMBI FY2024: $435MMBI FY2025: -$177MOSG FY2018: $186MOSG FY2019: -$216MOSG FY2020: -$437MOSG FY2021: -$17MOSG FY2022: $522.1MOSG FY2023: $5MOSG FY2024: -$556.1MOSG FY2025: -$259.1MFY18FY19FY20FY21FY22FY23FY24FY25
MBI -$177MOSG -$259.1M
Net margin
MBI FY2018: -93.4%MBI FY2019: -128.2%MBI FY2020: -205.0%MBI FY2021: -235.4%MBI FY2022: -126.6%MBI FY2023: 6,814.3%MBI FY2024: 1,035.7%MBI FY2025: -221.3%OSG FY2018: 36.4%OSG FY2019: -43.5%OSG FY2020: -280.1%OSG FY2021: -6.0%OSG FY2022: 973.9%OSG FY2023: 4.0%OSG FY2024: -235.8%OSG FY2025: -103.1%FY18FY19FY20FY21FY22FY23FY24FY25
MBI -221.3%OSG -103.1%
Revenue growth
MBI FY2019: -11.7%MBI FY2020: +0.7%MBI FY2021: -33.0%MBI FY2022: -18.5%MBI FY2023: -95.5%MBI FY2024: +500.0%MBI FY2025: +90.5%OSG FY2019: -2.9%OSG FY2020: -68.5%OSG FY2021: +80.8%OSG FY2022: -81.0%OSG FY2023: +132.6%OSG FY2024: +89.1%OSG FY2025: +6.5%FY19FY20FY21FY22FY23FY24FY25
MBI +90.5%OSG +6.5%
Free cash flow
MBI FY2018: -$320MMBI FY2019: -$368MMBI FY2020: -$390MMBI FY2021: $510MMBI FY2022: -$418MMBI FY2023: -$195MFY18FY19FY20FY21FY22FY23
MBI -$195MOSG

Fiscal years as each company reports them; the two may end in different months.

Questions about Mbia and Octave Specialty

Which is bigger by revenue, Mbia or Octave Specialty?

Octave Specialty is bigger by revenue: $251.2M in fiscal 2025, against $80M for Mbia in fiscal 2025.

Which keeps more of its revenue as profit, Mbia or Octave Specialty?

Mbia had a net margin of -221.3% in fiscal 2025; Octave Specialty had -103.1% in fiscal 2025.

Which grew revenue faster, Mbia or Octave Specialty?

In their latest fiscal years revenue changed by +90.5% at Mbia and +6.5% at Octave Specialty.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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