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MBIA (MBI) Financials

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$6.37 -0.04 (-0.69%)
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Annual Income Statements for MBIA

Annual Income Statements for MBIA

This table shows MBIA's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 582 -96 -1,179 -201 -273 -578 -445 -195 -491 -447 -177
Consolidated Net Income / (Loss)		 180 -338 -1,605 -296 -359 -578 -445 -203 -487 -444 -183
Net Income / (Loss) Continuing Operations		 582 -96 -1,179 -201 -273 -578 -445 -149 -484 -441 -181
Total Pre-Tax Income 		289 -339 -661 -296 -357 -578 -445 -148 -484 -441 -181
Total Operating Income		 557 -123 -250 -107 -163 -426 -324 -148 -262 -215 28
Total Gross Profit		 853 294 433 162 280 282 189 154 7.00 42 80
Total Revenue		 853 294 433 162 280 282 189 154 7.00 42 80
Operating Revenue		 853 294 433 162 280 282 189 154 7.00 42 80
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 296 417 683 269 443 708 513 302 269 257 52
Selling, General & Admin Expense		 0.00 - - - - - - - 87 69 68
Amortization Expense		 50 - - - - - - - 5.00 4.00 4.00
Other Operating Expenses / (Income)		 246 417 683 269 443 708 513 302 177 184 -20
Total Other Income / (Expense), net		 134 26 15 -94 -108 -152 -119 -85 -211 -247 -224
Interest Expense		 439 222 272 293 283 228 181 - 211 209 197
Interest & Investment Income		 -27 183 181 160 148 76 62 - 4.00 -42 -29
Other Income / (Expense), net		 600 65 106 39 27 - - - -4.00 4.00 2.00
Income Tax Expense		 109 -1.00 944 0.00 2.00 0.00 0.00 1.00 0.00 0.00 0.00
Net Income / (Loss) Discontinued Operations		 - - - - - 0.00 0.00 -54 -3.00 -3.00 -2.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - 0.00 0.00 -8.00 4.00 3.00 -6.00
Basic Earnings per Share		 $1.06 ($2.54) ($13.50) ($3.33) ($4.43) ($9.78) ($8.99) ($3.92) ($10.18) ($9.43) ($3.58)
Weighted Average Basic Shares Outstanding		 163.94M 133.00M 118.93M 89.01M 81.01M 59.07M 49.47M 49.80M 48.21M 47.44M 49.28M
Diluted Earnings per Share		 $1.06 ($2.54) ($13.50) ($3.33) ($4.43) ($9.78) ($8.99) ($3.92) ($10.18) ($9.43) ($3.58)
Weighted Average Diluted Shares Outstanding		 164.87M 133.00M 118.93M 89.01M 81.01M 59.07M 49.47M 49.80M 48.21M 47.44M 49.28M
Weighted Average Basic & Diluted Shares Outstanding		 136.60M 134.40M 88.76M 89.62M 76.46M 53.73M 54.60M 54.84M 50.93M 50.97M 50.51M

Quarterly Income Statements for MBIA

This table shows MBIA's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -185 -139 -111 -254 -56 -51 -62 -56 -8.00 - -42
Consolidated Net Income / (Loss)		 -186 -140 -86 -255 -52 -51 -62 -56 -8.00 -57 -42
Net Income / (Loss) Continuing Operations		 -185 -138 -87 -253 -51 -50 -62 -56 -7.00 -56 -41
Total Pre-Tax Income 		-185 -138 -87 -253 -51 -50 -62 -56 -7.00 -56 -41
Total Operating Income		 -168 14 -87 -253 3.00 -129 -62 -4.00 45 49 -41
Total Gross Profit		 8.00 -31 13 -37 29 -21 14 23 15 28 24
Total Revenue		 8.00 -31 13 -37 29 -21 14 23 15 28 24
Operating Revenue		 8.00 -31 13 -37 29 -19 14 23 15 28 24
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 176 -45 100 216 26 108 76 27 -30 -21 65
Other Operating Expenses / (Income)		 176 -137 100 216 11 110 76 8.00 -50 -54 65
Total Other Income / (Expense), net		 -27 -134 -25 0.00 -54 91 0.00 -52 -52 -69 0.00
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Income / (Loss) Discontinued Operations		 -1.00 -2.00 1.00 -2.00 -1.00 -1.00 0.00 0.00 -1.00 -1.00 -1.00
Basic Earnings per Share		 ($3.94) ($2.92) ($1.84) ($5.34) ($1.18) ($1.07) ($1.28) ($1.12) ($0.17) ($1.01) ($0.80)
Weighted Average Basic Shares Outstanding		 47.01M 48.21M 46.82M 47.50M 47.67M 47.44M 48.35M 49.54M 49.60M 49.28M 49.80M
Diluted Earnings per Share		 ($3.94) ($2.92) ($1.84) ($5.34) ($1.18) ($1.07) ($1.28) ($1.12) ($0.17) ($1.01) ($0.80)
Weighted Average Diluted Shares Outstanding		 47.01M 48.21M 46.82M 47.50M 47.67M 47.44M 48.35M 49.54M 49.60M 49.28M 49.80M
Weighted Average Basic & Diluted Shares Outstanding		 51.14M 50.93M 51.28M 51.03M 51.03M 50.97M 50.37M 50.49M 50.49M 50.51M 50.93M

Annual Cash Flow Statements for MBIA

This table details how cash moves in and out of MBIA's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -260 -262 -41 134 -197 -794 -261 -399 -469 -467 -215
Net Cash From Operating Activities		 250 -149 -652 -319 -368 -390 511 -737 -694 -622 -161
Net Cash From Continuing Operating Activities		 250 -92 -1,072 -341 -422 -172 257 -739 -687 -615 -161
Net Income / (Loss) Continuing Operations		 180 -338 -1,605 -296 -359 0.00 -445 -149 -484 -441 -181
Consolidated Net Income / (Loss)		 180 -338 -1,605 -296 -359 - -445 -203 -487 -444 -183
Non-Cash Adjustments To Reconcile Net Income		 1.00 163 -494 -162 -169 -327 591 -469 -202 -182 26
Changes in Operating Assets and Liabilities, net		 69 83 1,027 117 106 155 111 -67 -1.00 8.00 -4.00
Net Cash From Discontinued Operating Activities		 - - - - - - 0.00 2.00 -7.00 -7.00 0.00
Net Cash From Investing Activities		 848 2,424 1,202 1,206 1,267 1,738 -61 623 767 287 25
Net Cash From Continuing Investing Activities		 848 2,424 1,202 1,206 1,267 643 -61 611 778 268 25
Purchase of Property, Plant & Equipment		 -3.00 -1.00 -1.00 -1.00 0.00 0.00 -1.00 0.00 0.00 0.00 0.00
Purchase of Investments		 -2,523 -2,904 -2,138 -2,478 -2,389 -1,328 -1,435 -1,167 -481 -325 -473
Sale and/or Maturity of Investments		 3,320 5,026 3,342 3,692 3,586 1,955 1,375 1,778 1,259 593 498
Other Investing Activities, net		 54 303 -1.00 -7.00 70 16 0.00 0.00 0.00 0.00 0.00
Net Cash From Discontinued Investing Activities		 - - - - - - 0.00 10 -9.00 19 0.00
Net Cash From Financing Activities		 -1,015 -2,535 -589 -752 -1,096 -1,265 -457 -285 -542 -132 -79
Net Cash From Continuing Financing Activities		 -1,015 -2,535 -589 -752 -1,096 -1,265 -457 -285 -547 -123 -79
Repayment of Debt		 -735 -2,444 -604 -720 -1,005 -1,077 -89 -157 -27 -68 -61
Repurchase of Common Equity		 -304 -110 -330 -44 -106 -200 -1.00 -3.00 -38 -4.00 -7.00
Payment of Dividends		 0.00 0.00 - - - - 0.00 0.00 -409 0.00 0.00
Issuance of Debt		 24 19 345 12 15 12 -367 -125 -73 -51 -11
Net Cash From Discontinued Financing Activities		 - - - - - - 0.00 0.00 5.00 -9.00 0.00
Cash Income Taxes Paid		 9.00 5.00 4.00 1.00 -11 -13 0.00 1.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for MBIA

This table details how cash moves in and out of MBIA's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -508 -109 -61 -195 222 -433 -107 57 -103 -62 0.00
Net Cash From Operating Activities		 -472 -144 -123 -263 207 -443 -124 -48 85 -74 -33
Net Cash From Continuing Operating Activities		 -479 -144 -123 -263 354 -583 -124 -48 85 -74 -31
Net Income / (Loss) Continuing Operations		 -185 -138 -87 -253 -51 -50 -62 -56 -7.00 -56 -41
Consolidated Net Income / (Loss)		 -187 -139 -86 -255 -52 -51 -62 -56 -8.00 -57 -42
Non-Cash Adjustments To Reconcile Net Income		 -208 -16 -30 -10 226 -368 -43 1.00 90 -22 -20
Changes in Operating Assets and Liabilities, net		 -86 10 -7.00 1.00 179 -165 -19 7.00 2.00 6.00 31
Net Cash From Discontinued Operating Activities		 - - - - - - 0.00 - - - -1.00
Net Cash From Investing Activities		 -7.00 460 133 120 29 5.00 32 106 -172 59 37
Net Cash From Continuing Investing Activities		 2.00 462 135 118 -130 145 30 108 -172 59 33
Purchase of Investments		 -80 -60 -99 -77 -75 -73 -148 -47 -183 -95 -98
Sale and/or Maturity of Investments		 84 520 233 193 84 83 179 153 9.00 157 132
Other Investing Activities, net		 - 2.00 1.00 2.00 -139 140 -1.00 2.00 2.00 -3.00 -1.00
Net Cash From Discontinued Investing Activities		 - - - - - - 0.00 - - - 2.00
Net Cash From Financing Activities		 -29 -425 -73 -50 -14 5.00 -13 -3.00 -16 -47 -3.00
Net Cash From Continuing Financing Activities		 -28 -425 -73 -50 -6.00 6.00 -13 -3.00 -16 -47 -3.00
Repayment of Debt		 -3.00 -13 -37 -27 -61 57 0.00 -1.00 -15 -45 -2.00
Repurchase of Common Equity		 -7.00 -3.00 -2.00 -2.00 - - -7.00 - - - -1.00
Issuance of Debt		 -18 - -34 -21 - -51 -6.00 -2.00 -1.00 -2.00 0.00
Cash Interest Paid		 - - - - - - - - - - 8.00

Annual Balance Sheets for MBIA

This table presents MBIA's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 14,836 11,137 9,095 8,107 7,284 5,751 4,696 3,375 2,606 2,168 2,013
Total Current Assets		 5,900 2,546 1,926 1,170 973 176 160 66 107 87 71
Cash & Equivalents		 522 211 146 280 83 176 160 66 107 87 71
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 11,613 9,505 8,053 6,936 6,311 5,584 4,536 3,309 2,496 2,081 1,942
Long-Term Investments		 7,282 5,888 4,831 4,228 3,545 2,813 2,853 2,723 1,950 1,655 1,675
Noncurrent Note & Lease Receivables		 2,084 1,475 2,048 468 385 336 255 238 181 161 155
Other Noncurrent Operating Assets		 1,308 1,172 1,174 2,240 2,381 2,435 1,428 268 292 254 104
Other Noncurrent Nonoperating Assets		 - - - - - - 0.00 80 73 11 8.00
Total Liabilities & Shareholders' Equity		 14,836 11,137 9,095 8,107 7,284 5,751 4,696 3,375 2,606 2,168 2,013
Total Liabilities		 11,095 7,898 7,670 6,975 6,445 5,602 4,996 4,251 4,253 4,244 4,243
Total Current Liabilities		 875 840 1,241 1,164 1,076 1,205 894 494 487 526 454
Other Current Liabilities		 516 541 979 965 901 990 894 439 473 526 454
Total Noncurrent Liabilities		 10,220 7,058 6,429 5,811 5,369 4,397 4,102 3,757 3,766 3,718 3,789
Long-Term Debt		 7,956 5,122 5,175 4,715 4,447 3,562 2,622 3,103 3,163 2,784 2,875
Noncurrent Deferred Revenue		 1,591 958 752 587 482 405 322 266 232 199 172
Other Noncurrent Operating Liabilities		 673 632 502 509 440 430 1,158 327 307 728 736
Other Noncurrent Nonoperating Liabilities		 0.00 346 0.00 - - - 0.00 61 64 7.00 6.00
Commitments & Contingencies		 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,741 3,239 1,425 1,132 839 149 -300 -876 -1,647 -2,076 -2,230
Total Preferred & Common Equity		 3,729 3,227 1,413 1,119 826 136 -313 -882 -1,657 -2,089 -2,237
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,729 3,227 1,413 1,119 826 136 -313 -882 -1,657 -2,089 -2,237
Common Stock		 3,420 3,444 3,455 3,309 3,282 3,245 3,214 3,208 2,798 2,775 2,733
Retained Earnings		 3,038 2,700 1,095 966 607 -13 -458 -653 -1,144 -1,591 -1,768
Treasury Stock		 -2,668 -2,789 -3,118 -3,000 -3,061 -3,211 -3,169 -3,154 -3,172 -3,145 -3,107
Accumulated Other Comprehensive Income / (Loss)		 -61 -128 -19 -156 -2.00 115 100 -283 -139 -128 -95
Noncontrolling Interest		 12 12 12 13 13 13 13 6.00 10 13 7.00

Quarterly Balance Sheets for MBIA

This table presents MBIA's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,990 2,488 2,304 2,230 2,132 2,134 2,060 1,979
Total Current Assets		 74 137 197 74 63 167 69 72
Cash & Equivalents		 74 137 197 74 63 167 69 72
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 2,913 2,348 2,105 2,155 2,068 1,966 1,991 1,906
Long-Term Investments		 2,367 1,825 1,634 1,688 1,639 1,546 1,727 1,645
Noncurrent Note & Lease Receivables		 183 181 172 168 163 162 158 154
Other Noncurrent Operating Assets		 289 268 228 287 255 247 96 107
Other Noncurrent Nonoperating Assets		 74 74 71 12 11 11 10 0.00
Total Liabilities & Shareholders' Equity		 2,990 2,488 2,304 2,230 2,132 2,134 2,060 1,979
Total Liabilities		 4,218 4,211 4,289 4,218 4,245 4,299 4,227 4,257
Total Current Liabilities		 484 485 586 532 527 536 454 437
Other Current Liabilities		 450 470 577 524 521 526 443 437
Total Noncurrent Liabilities		 3,734 3,726 3,703 3,686 3,718 3,763 3,773 3,820
Long-Term Debt		 3,122 3,133 3,132 3,183 3,260 3,300 3,348 3,382
Noncurrent Deferred Revenue		 240 224 216 208 192 186 178 166
Other Noncurrent Operating Liabilities		 307 305 291 288 259 270 240 272
Other Noncurrent Nonoperating Liabilities		 65 64 64 7.00 7.00 7.00 7.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -1,228 -1,723 -1,985 -1,988 -2,113 -2,165 -2,167 -2,278
Total Preferred & Common Equity		 -1,239 -1,733 -1,994 -2,001 -2,126 -2,178 -2,180 -2,283
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -1,239 -1,733 -1,994 -2,001 -2,126 -2,178 -2,180 -2,283
Common Stock		 3,202 2,769 2,766 2,766 2,743 2,736 2,736 2,703
Retained Earnings		 -1,006 -1,230 -1,484 -1,540 -1,653 -1,709 -1,717 -1,808
Treasury Stock		 -3,172 -3,141 -3,139 -3,139 -3,117 -3,109 -3,110 -3,075
Accumulated Other Comprehensive Income / (Loss)		 -263 -131 -137 -88 -99 -96 -89 -103
Noncontrolling Interest		 11 10 9.00 13 13 13 13 5.00

Annual Metrics And Ratios for MBIA

This table displays calculated financial ratios and metrics derived from MBIA's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -32.83% -65.53% 47.28% -62.59% 72.84% 0.71% -32.98% -18.52% -95.45% 1,300.00% 90.48%
EBITDA Growth		 -60.50% -104.81% -148.28% 52.78% -100.00% -213.24% 23.94% 54.32% -76.35% 42.19% 116.43%
EBIT Growth		 -61.59% -105.01% -148.28% 52.78% -103.23% -213.24% 23.94% 54.32% -79.73% 42.19% 114.22%
NOPAT Growth		 -59.29% -124.82% -103.25% 170.39% 12.48% -161.35% 23.94% 54.32% -77.03% 56.77% 113.02%
Net Income Growth		 -68.37% -287.78% -374.85% 81.56% -42.57% -61.00% 23.01% 54.38% -139.90% 8.83% 58.78%
EPS Growth		 -61.59% -339.62% -431.50% 75.33% -33.03% -120.77% 8.08% 56.40% -159.69% 7.37% 62.04%
Operating Cash Flow Growth		 347.52% -159.60% -337.58% 106.27% -30.72% -5.98% 231.03% -244.23% 5.83% 10.37% 74.12%
Free Cash Flow Firm Growth		 -91.31% -113.28% 0.00% -17.05% -507.08% 26.55% 568.19% -119.05% 36.56% 75.29% -211.16%
Invested Capital Growth		 13.79% -4.19% 342.12% -69.16% 45.75% 0.32% -173.04% 23.88% -2.47% -9.83% 39.21%
Revenue Q/Q Growth		 10.64% -54.77% 252.03% -63.27% 25.00% 36.23% -28.68% 23.20% -92.55% 55.56% -10.11%
EBITDA Q/Q Growth		 -30.19% -106.87% 72.41% -119.60% -164.76% 35.84% 2.99% 23.71% 26.48% -52.05% 127.20%
EBIT Q/Q Growth		 -33.08% -106.87% 72.41% -119.60% -164.76% 35.84% 2.99% 23.71% 25.07% -52.05% 124.00%
NOPAT Q/Q Growth		 19.15% -291.11% 54.04% -216.30% -528.95% 15.64% 2.99% 23.71% 26.20% -13.70% 122.40%
Net Income Q/Q Growth		 52.54% -4,325.00% 12.39% 9.20% -136.18% 18.71% -19.95% 31.88% -19.66% 16.70% -3.39%
EPS Q/Q Growth		 53.62% -25,500.00% 6.83% 21.83% -151.70% 3.74% -9.10% 34.45% -22.50% 16.40% 1.65%
Operating Cash Flow Q/Q Growth		 55.28% -361.40% 8.81% -13.12% 20.92% -14.37% 43.14% -352.40% 51.37% -453.41% 69.62%
Free Cash Flow Firm Q/Q Growth		 129.49% -102.22% 135.67% 0.00% 0.00% -130.80% 213.94% -115.50% 86.99% -1.61% -751.43%
Invested Capital Q/Q Growth		 4.02% 154.45% 253.64% -32.17% 149.38% -2.07% -344.17% 66.83% -2.67% -4.78% -3.95%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 200.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 141.50% -19.73% -33.26% -41.98% -35.32% -151.06% -171.43% -96.10% -3,728.57% -528.57% 42.50%
Operating Margin		 65.30% -41.84% -57.74% -66.05% -58.21% -151.06% -171.43% -96.10% -3,742.86% -395.24% 35.00%
EBIT Margin		 135.64% -19.73% -33.26% -7.07% -48.57% -151.06% -171.43% -96.10% -3,800.00% -528.57% 37.50%
Profit (Net Income) Margin		 21.10% -114.97% -370.67% -182.72% -128.21% -204.96% -235.45% -131.82% -6,957.14% -1,057.14% -228.75%
Tax Burden Percent		 62.28% 99.71% 0.00% 0.00% 201.12% 100.00% 100.00% 137.16% 100.62% 100.68% 101.11%
Interest Burden Percent		 24.98% 584.48% 0.00% 870.59% 0.00% 135.68% 137.35% 100.00% 181.95% 198.65% -603.33%
Effective Tax Rate		 37.72% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 23.81% -5.67% -14.14% 27.37% 18.27% -31.57% -177.88% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 30.80% 7.11% 116.51% 225.19% 235.24% -93.68% -285.37% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -19.13% -4.01% -54.68% -14.00% -44.15% -85.43% 767.29% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 4.68% -9.68% -68.83% -23.15% 0.00% -117.00% 589.40% 34.52% 38.60% 23.85% 8.50%
Cash Return on Invested Capital (CROIC)		 10.91% -1.39% 26.02% 0.00% -101.85% -31.89% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 7.44% -0.45% -1.42% -0.79% -1.77% -6.54% -6.20% -3.67% -8.89% -9.30% 1.44%
Return on Assets (ROA)		 1.16% -2.60% -15.87% -3.44% -9.33% -8.87% -8.52% -5.03% -16.28% -18.60% -8.75%
Return on Common Equity (ROCE)		 4.66% -9.65% -68.47% -22.93% 0.00% -113.93% 690.89% 35.08% 38.85% 24.00% 8.54%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.25% 0.00%
Net Operating Profit after Tax (NOPAT)		 347 -86 -175 -75 -114 -298 -227 -104 -183 -116 20
NOPAT Margin		 40.67% -29.29% -40.42% -46.23% -40.75% -105.74% -120.00% -67.27% -2,620.00% -276.67% 24.50%
Net Nonoperating Expense Percent (NNEP)		 -6.99% -12.78% 0.00% 0.00% 0.00% 62.11% 107.49% -484.88% 41.65% 25.29% 15.37%
Return On Investment Capital (ROIC_SIMPLE)		 2.88% -0.99% -2.55% -1.24% -2.09% -7.60% -9.77% -4.54% -11.99% -10.07% 1.75%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1,242.86% 0.00% 85.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 34.70% 141.84% 157.74% 166.05% 316.43% 251.06% 271.43% 196.10% 3,842.86% 495.24% 65.00%
Earnings before Interest and Taxes (EBIT)		 1,157 -58 -144 -68 -136 -426 -324 -148 -266 -222 30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,207 -58 -144 -68 -136 -426 -324 -148 -261 -222 34
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.12 0.20 0.21 0.32 0.39 1.14 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.12 0.20 0.21 0.32 0.39 1.14 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.51 2.16 0.68 2.18 1.16 0.55 1.98 2.00 44.71 7.85 4.52
Price to Earnings (P/E)		 0.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 130.72% 0.00% 0.00%
Earnings Yield		 134.61% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 1.39 1.01 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 1.58 3.39 0.00 4.43 206.14 43.61 24.62
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 57.93
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65.65
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100.49
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.22 1.67 7.63 0.00 11.02 25.35 -8.74 -3.61 -1.93 -1.56 -1.50
Long-Term Debt to Equity		 2.13 1.58 7.26 0.00 0.00 23.91 -8.74 -3.54 -1.92 -1.55 -1.50
Financial Leverage		 -0.62 -0.56 0.17 -0.72 0.00 0.91 -2.69 0.03 -0.58 -0.70 -0.61
Leverage Ratio		 4.05 3.72 4.34 13.45 16.49 13.19 -69.19 -6.86 -2.37 -1.28 -0.97
Compound Leverage Factor		 1.01 21.75 0.00 0.00 52.78 17.90 -95.02 -6.86 -4.31 -2.55 5.86
Debt to Total Capital		 68.97% 62.60% 158.47% 0.00% 169.27% 96.20% 112.92% 138.39% 207.65% 279.90% 299.64%
Short-Term Debt to Total Capital		 2.98% 3.45% 3.82% 0.00% 6.41% 5.48% 0.00% 2.41% 0.92% 0.52% 0.00%
Long-Term Debt to Total Capital		 65.99% 59.15% 150.99% 0.00% 0.00% 90.73% 112.92% 135.98% 206.73% 279.38% 299.64%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.10% 0.14% 0.38% 0.00% 0.52% 0.33% 0.56% 0.26% 0.65% 1.13% 0.63%
Common Equity to Total Capital		 30.93% 37.26% 44.81% 0.00% 0.00% 3.46% -13.48% -38.65% -108.30% -181.02% -200.27%
Debt to EBITDA		 6.89 -93.47 -37.76 -72.26 26.77 -8.87 -8.09 -21.34 -12.17 -14.55 98.44
Net Debt to EBITDA		 -4.03 42.38 9.17 14.24 1.35 -1.85 1.21 -2.49 -4.29 -6.71 47.09
Long-Term Debt to EBITDA		 6.59 -88.31 -35.94 -69.34 28.06 -8.36 -8.09 -20.97 -12.12 -14.52 98.44
Debt to NOPAT		 23.97 -62.96 0.00 -65.61 -16.70 -12.67 -11.56 -30.48 -17.32 -27.80 170.77
Net Debt to NOPAT		 -14.03 28.55 7.54 12.92 -0.08 -2.64 1.72 -3.56 -6.11 -12.81 81.68
Long-Term Debt to NOPAT		 22.93 -59.49 0.00 -62.95 -15.16 -11.95 -11.56 -29.95 -17.25 -27.75 170.77
Altman Z-Score		 1.03 0.58 0.60 0.00 0.00 -0.40 -0.47 -0.48 -1.08 -1.55 -1.32
Noncontrolling Interest Sharing Ratio		 0.43% 0.34% 70.22% 1.96% 0.00% 2.63% -17.22% -1.62% -0.63% -0.62% -0.46%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.74 3.03 1.55 0.00 0.00 0.15 0.18 0.13 0.22 0.16 0.16
Quick Ratio		 6.74 2.37 3.10 0.00 1.81 0.15 0.18 0.13 0.22 0.16 0.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 159 -21 322 267 -410 -301 1,410 -269 -170 -63 -387
Operating Cash Flow to CapEx		 8,333.33% -14,900.00% -65,200.00% -31,900.00% 0.00% 0.00% 51,100.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.36 -0.10 1.18 0.91 -2.86 -1.32 7.79 0.00 -0.81 -0.30 -1.97
Operating Cash Flow to Interest Expense		 0.57 -0.67 -2.40 -1.09 -2.60 -1.71 2.82 0.00 -3.29 -2.98 -0.82
Operating Cash Flow Less CapEx to Interest Expense		 0.56 -0.68 -2.40 -2.18 -1.30 -1.71 2.82 0.00 -3.29 -2.98 -0.82
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.02 0.04 0.02 0.04 0.04 0.04 0.04 0.00 0.02 0.04
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,551 1,486 989 647 943 946 -691 -526 -539 -592 -631
Invested Capital Turnover		 0.59 0.19 0.35 0.97 0.72 0.30 1.48 -0.25 -0.01 -0.07 -0.10
Increase / (Decrease) in Invested Capital		 188 -65 -497 -342 296 3.00 -1,637 165 -13 -53 407
Enterprise Value (EV)		 -4,423 -1,812 -1,015 676 442 956 -3.25 683 1,443 1,832 1,970
Market Capitalization		 432 634 293 1,147 325 155 375 308 313 330 362
Book Value per Share		 $24.38 $23.77 $15.40 $12.34 $10.32 $2.52 ($5.75) ($16.07) ($32.40) ($40.94) ($44.30)
Tangible Book Value per Share		 $24.38 $23.77 $15.40 $12.34 $10.32 $2.52 ($5.75) ($16.07) ($32.40) ($40.94) ($44.30)
Total Capital		 12,056 8,660 6,862 6,046 5,461 3,926 2,322 2,282 1,530 1,154 1,117
Total Debt		 8,315 5,421 5,437 4,914 4,622 3,777 2,622 3,158 3,177 3,230 3,347
Total Long-Term Debt		 7,956 5,122 5,175 4,715 4,447 3,562 2,622 3,103 3,163 3,224 3,347
Net Debt		 -4,867 -2,458 -1,320 -484 104 788 -391 369 1,120 1,489 1,601
Capital Expenditures (CapEx)		 3.00 1.00 1.00 1.00 0.00 0.00 1.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -516 14 -979 -965 -901 -990 -894 -439 -473 -526 -454
Debt-free Net Working Capital (DFNWC)		 5,384 2,005 947 205 72 -814 -734 -373 -366 -439 -383
Net Working Capital (NWC)		 5,025 1,706 685 6.00 -103 -1,029 -734 -428 -380 -445 -383
Net Nonoperating Expense (NNE)		 167 252 1,430 221 245 280 218 99 304 328 203
Net Nonoperating Obligations (NNO)		 -2,190 -1,753 -436 -485 104 797 -391 350 1,108 1,484 1,599
Total Depreciation and Amortization (D&A)		 50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.00 0.00 4.00
Debt-free, Cash-free Net Working Capital to Revenue		 -60.49% 4.76% -226.10% -595.68% -321.79% -351.06% -473.02% -285.06% -6,757.14% -1,252.38% -567.50%
Debt-free Net Working Capital to Revenue		 631.18% 681.97% 218.71% 276.18% 25.71% -288.65% -388.36% -242.21% -5,228.57% -1,045.24% -478.75%
Net Working Capital to Revenue		 589.10% 580.27% 158.20% 3.70% -36.79% -364.89% -388.36% -277.92% -5,428.57% -1,059.52% -478.75%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.06 ($2.54) ($13.50) ($3.33) ($4.43) ($9.78) ($8.99) ($3.92) ($10.18) ($9.43) ($3.58)
Adjusted Weighted Average Basic Shares Outstanding		 163.94M 133.00M 118.93M 89.01M 81.01M 59.07M 49.47M 49.80M 48.21M 47.44M 49.28M
Adjusted Diluted Earnings per Share		 $1.06 ($2.54) ($13.50) ($3.33) ($4.43) ($9.78) ($8.99) ($3.92) ($10.18) ($9.43) ($3.58)
Adjusted Weighted Average Diluted Shares Outstanding		 164.87M 133.00M 118.93M 89.01M 81.01M 59.07M 49.47M 49.80M 48.21M 47.44M 49.28M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 136.60M 134.40M 88.76M 89.62M 76.46M 53.73M 54.60M 54.84M 50.93M 50.97M 50.51M
Normalized Net Operating Profit after Tax (NOPAT)		 347 -86 -175 -75 -114 -298 -227 -104 -183 -116 20
Normalized NOPAT Margin		 40.67% -29.29% -40.42% -46.23% 12.50% -105.74% -120.00% -67.27% -2,620.00% -276.67% 24.50%
Pre Tax Income Margin		 33.88% -115.31% -152.66% -182.72% -203.78% -204.96% -235.45% -96.10% -6,914.29% -1,050.00% -226.25%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.64 -0.26 -0.53 -0.23 -0.48 -1.87 -1.79 0.00 -1.26 -1.06 0.15
NOPAT to Interest Expense		 0.79 -0.39 -0.64 -0.26 0.83 -1.31 -1.25 0.00 -0.87 -0.56 0.10
EBIT Less CapEx to Interest Expense		 2.63 -0.27 -0.53 -0.24 -0.23 -1.87 -1.80 0.00 -1.26 -1.06 0.15
NOPAT Less CapEx to Interest Expense		 0.78 -0.39 -0.65 0.48 0.83 -1.31 -1.26 0.00 -0.87 -0.56 0.10
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -83.98% 0.00% 0.00%
Augmented Payout Ratio		 168.89% -32.54% -20.56% -14.86% -59.05% -34.60% -0.22% -1.48% -91.79% -0.90% -3.83%

Quarterly Metrics And Ratios for MBIA

This table displays calculated financial ratios and metrics derived from MBIA's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 51,934,943.00 51,139,497.00 51,139,497.00 51,276,529.00 51,028,154.00 - 50,971,033.00 50,371,259.00 50,488,741.00 - 50,511,149.00
DEI Adjusted Shares Outstanding		 51,934,943.00 51,139,497.00 51,139,497.00 51,276,529.00 51,028,154.00 - 50,971,033.00 50,371,259.00 50,488,741.00 - 50,511,149.00
DEI Earnings Per Adjusted Shares Outstanding		 -3.56 -2.72 -2.17 -4.95 -1.10 - -1.22 -1.11 -0.16 - -0.83
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -55.56% -155.36% 550.00% -232.14% 262.50% 40.00% 7.69% 162.16% -48.28% -24.32% 71.43%
EBITDA Growth		 -950.00% 117.72% -58.18% -301.59% 104.76% 112.04% 28.74% 98.42% 600.00% -59.84% 33.87%
EBIT Growth		 -950.00% 117.72% -58.18% -301.59% 104.17% 112.04% 28.74% 98.02% 685.71% -59.84% 33.87%
NOPAT Growth		 -950.00% 117.72% -58.18% -377.36% 101.79% -19.44% 28.74% 98.42% 1,400.00% -59.84% 33.87%
Net Income Growth		 -447.06% -133.33% 0.00% -240.00% 72.04% 63.57% 27.91% 78.04% 84.62% -11.76% 32.26%
EPS Growth		 -488.06% -178.10% 1.08% -265.75% 70.05% 63.36% 30.43% 79.03% 85.59% 5.61% 37.50%
Operating Cash Flow Growth		 -413.04% 83.58% -241.67% -526.19% 143.86% -207.64% -0.81% 81.75% -58.94% 83.30% 73.39%
Free Cash Flow Firm Growth		 -163.44% 110.35% -571.41% -97.50% 103.57% 40.42% 93.29% -278.09% 74.58% -163.77% 179.44%
Invested Capital Growth		 66.90% -2.47% 48.88% -54.40% -7.62% -9.83% -0.73% 16.23% -7.43% 39.21% -10.83%
Revenue Q/Q Growth		 -71.43% -487.50% 141.94% -384.62% 178.38% -163.64% -62.16% 64.29% -34.78% 86.67% -14.29%
EBITDA Q/Q Growth		 -166.67% 108.33% 58.17% -190.80% 103.16% 550.00% -150.82% 93.55% 1,500.00% -12.50% -183.67%
EBIT Q/Q Growth		 -166.67% 108.33% 58.17% -190.80% 102.77% 1,200.00% -150.82% 91.94% 1,200.00% -10.91% -183.67%
NOPAT Q/Q Growth		 -216.98% 108.33% 58.17% -190.80% 101.19% -2,250.00% -150.82% 93.55% 1,225.00% 8.89% -183.67%
Net Income Q/Q Growth		 -148.00% 24.73% 38.57% -196.51% 79.61% 1.92% -21.57% 9.68% 85.71% -612.50% 26.32%
EPS Q/Q Growth		 -169.86% 25.89% 36.99% -190.22% 77.90% 9.32% -19.63% 12.50% 84.82% -494.12% 20.79%
Operating Cash Flow Q/Q Growth		 -1,023.81% 69.49% 14.58% -113.82% 178.71% -218.71% 72.01% 61.29% 277.08% -187.06% 55.41%
Free Cash Flow Firm Q/Q Growth		 -146.15% 101.93% -342.61% 110.89% -34.12% -184.39% -106.74% -188.83% 164.59% -607.07% 108.40%
Invested Capital Q/Q Growth		 -18.51% -2.67% -2.04% -24.36% 17.40% -4.78% 46.63% -3.43% -5.93% -3.95% 2.69%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 0.00% 100.00% 0.00% 100.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -2,100.00% 0.00% -669.23% 0.00% 27.59% 0.00% -442.86% -17.39% 373.33% 175.00% -170.83%
Operating Margin		 -2,100.00% 0.00% -669.23% 0.00% 10.34% 0.00% -442.86% -17.39% 300.00% 175.00% -170.83%
EBIT Margin		 -2,100.00% 0.00% -669.23% 0.00% 24.14% 0.00% -442.86% -21.74% 366.67% 175.00% -170.83%
Profit (Net Income) Margin		 -2,325.00% 0.00% -661.54% 0.00% -179.31% 0.00% -442.86% -243.48% -53.33% -203.57% -175.00%
Tax Burden Percent		 100.54% 101.45% 98.85% 100.79% 101.96% 102.00% 100.00% 100.00% 114.29% 101.79% 102.44%
Interest Burden Percent		 110.12% -985.71% 100.00% 100.00% -728.57% -384.62% 100.00% 1,120.00% -12.73% -114.29% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 39.19% 38.60% 37.15% 44.87% 33.15% 23.85% 21.90% 10.65% 8.52% 8.50% 7.42%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -56.36% 0.00% -4.15% 0.00% 0.00% 0.00% -8.24% -1.01% 15.21% 6.70% -7.48%
Return on Assets (ROA)		 -62.40% 0.00% -4.10% 0.00% 0.00% 0.00% -8.24% -11.30% -2.21% -7.79% -7.66%
Return on Common Equity (ROCE)		 39.66% 38.85% 37.47% 45.19% 33.39% 24.00% 22.03% 10.71% 8.57% 8.54% 7.45%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -118 9.80 -61 -177 2.10 -90 -43 -2.80 32 34 -29
NOPAT Margin		 -1,470.00% 0.00% -468.46% 0.00% 7.24% 0.00% -310.00% -12.17% 210.00% 122.50% -119.58%
Net Nonoperating Expense Percent (NNEP)		 -402.35% 20.55% 5.04% 8.44% 5.09% -3.03% 1.36% 3.68% 2.65% 6.92% 0.83%
Return On Investment Capital (ROIC_SIMPLE)		 -6.10% 0.64% -4.27% -15.32% 0.17% -7.83% -3.76% -0.24% 2.64% 3.07% -2.60%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 48.28% 0.00% 0.00% 78.26% 126.67% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 2,200.00% 0.00% 769.23% 0.00% 89.66% 0.00% 542.86% 117.39% -200.00% -75.00% 270.83%
Earnings before Interest and Taxes (EBIT)		 -168 14 -87 -253 7.00 13 -62 -5.00 55 49 -41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -168 14 -87 -253 8.00 13 -62 -4.00 56 49 -41
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.74 44.71 19.21 0.00 0.00 7.85 5.90 2.12 4.23 4.52 3.32
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 130.72% 118.34% 145.72% 224.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 9.46 206.14 85.65 0.00 0.00 43.61 42.58 17.75 21.93 24.62 21.87
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 57.93 40.17
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65.65 40.17
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100.49 57.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 20.88
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -2.57 -1.93 -1.83 -1.58 -1.61 -1.56 -1.55 -1.53 -1.55 -1.50 -1.48
Long-Term Debt to Equity		 -2.54 -1.92 -1.82 -1.58 -1.60 -1.55 -1.54 -1.52 -1.55 -1.50 -1.48
Financial Leverage		 0.02 -0.58 -0.38 -0.62 -0.66 -0.70 -0.71 -0.70 -0.72 -0.61 -0.73
Leverage Ratio		 -3.37 -2.37 -2.21 -1.87 -1.62 -1.28 -1.20 -1.07 -1.03 -0.97 -0.94
Compound Leverage Factor		 -3.71 23.37 -2.21 -1.87 11.83 4.93 -1.20 -11.98 0.13 1.11 -0.94
Debt to Total Capital		 163.69% 207.65% 220.91% 271.71% 265.25% 279.90% 283.26% 289.08% 281.80% 299.64% 306.34%
Short-Term Debt to Total Capital		 1.76% 0.92% 1.05% 0.78% 0.67% 0.52% 0.52% 0.87% 0.92% 0.00% 0.00%
Long-Term Debt to Total Capital		 161.93% 206.73% 219.86% 270.93% 264.59% 279.38% 282.74% 288.21% 280.87% 299.64% 306.34%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.57% 0.65% 0.70% 0.78% 1.08% 1.13% 1.13% 1.14% 1.09% 0.63% 0.45%
Common Equity to Total Capital		 -64.26% -108.30% -121.61% -172.49% -166.33% -181.02% -184.39% -190.22% -182.89% -200.27% -206.79%
Debt to EBITDA		 -8.89 -12.17 -6.10 -4.39 -5.86 -14.55 -17.19 -19.82 -26.87 98.44 69.02
Net Debt to EBITDA		 -2.01 -4.29 -2.30 -1.83 -2.62 -6.71 -8.23 -9.56 -12.50 47.09 33.98
Long-Term Debt to EBITDA		 -8.79 -12.12 -6.07 -4.37 -5.84 -14.52 -17.16 -19.76 -26.78 98.44 69.02
Debt to NOPAT		 -12.70 -17.32 -8.72 -6.27 -8.36 -27.80 -24.56 -28.31 -38.39 170.77 98.60
Net Debt to NOPAT		 -2.88 -6.11 -3.28 -2.61 -3.75 -12.81 -11.76 -13.66 -17.86 81.68 48.54
Long-Term Debt to NOPAT		 -12.56 -17.25 -8.67 -6.25 -8.34 -27.75 -24.51 -28.23 -38.26 170.77 98.60
Altman Z-Score		 -0.77 -0.73 -0.92 -1.45 -1.19 -1.19 -1.39 -1.26 -1.21 -1.29 -1.48
Noncontrolling Interest Sharing Ratio		 -1.20% -0.63% -0.88% -0.71% -0.75% -0.62% -0.60% -0.53% -0.63% -0.46% -0.41%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.15 0.22 0.28 0.34 0.14 0.16 0.12 0.31 0.15 0.16 0.16
Quick Ratio		 0.15 0.22 0.28 0.34 0.14 0.16 0.12 0.31 0.15 0.16 0.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,179 23 -587 64 42 -37 -39 -114 74 -373 31
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -22.24 0.42 0.00 0.00 0.79 -0.73 0.00 -2.32 1.47 0.00 0.00
Operating Cash Flow to Interest Expense		 -8.91 -2.67 0.00 0.00 3.91 -8.69 0.00 -0.98 1.70 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -8.91 -2.67 0.00 0.00 3.91 -8.69 0.00 -0.98 1.70 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.00 0.01 0.00 0.00 0.02 0.02 0.05 0.04 0.04 0.04
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -525 -539 -550 -684 -565 -592 -554 -573 -607 -631 -614
Invested Capital Turnover		 -0.09 -0.01 -0.02 0.00 0.00 -0.07 -0.08 -0.16 -0.15 -0.10 -0.15
Increase / (Decrease) in Invested Capital		 1,061 -13 526 -241 -40 -53 -4.00 111 -42 407 -60
Enterprise Value (EV)		 889 1,443 1,542 1,601 1,624 1,832 1,831 1,829 1,952 1,970 1,969
Market Capitalization		 163 313 346 282 182 330 254 219 376 362 299
Book Value per Share		 ($23.86) ($32.40) ($37.01) ($38.89) ($39.21) ($40.94) ($41.71) ($43.24) ($43.18) ($44.30) ($45.20)
Tangible Book Value per Share		 ($23.86) ($32.40) ($37.01) ($38.89) ($39.21) ($40.94) ($41.71) ($43.24) ($43.18) ($44.30) ($45.20)
Total Capital		 1,928 1,530 1,425 1,156 1,203 1,154 1,153 1,145 1,192 1,117 1,104
Total Debt		 3,156 3,177 3,148 3,141 3,191 3,230 3,266 3,310 3,359 3,347 3,382
Total Long-Term Debt		 3,122 3,163 3,133 3,132 3,183 3,224 3,260 3,300 3,348 3,347 3,382
Net Debt		 715 1,120 1,186 1,310 1,429 1,489 1,564 1,597 1,563 1,601 1,665
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -450 -473 -470 -577 -524 -526 -521 -526 -443 -454 -437
Debt-free Net Working Capital (DFNWC)		 -376 -366 -333 -380 -450 -439 -458 -359 -374 -383 -365
Net Working Capital (NWC)		 -410 -380 -348 -389 -458 -445 -464 -369 -385 -383 -365
Net Nonoperating Expense (NNE)		 68 150 25 78 54 -39 19 53 40 91 13
Net Nonoperating Obligations (NNO)		 703 1,108 1,173 1,301 1,423 1,484 1,559 1,592 1,560 1,599 1,664
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 1.00 0.00 0.00 1.00 1.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 -478.72% -6,757.14% -2,611.11% 0.00% 0.00% -1,252.38% -1,211.63% -510.68% -497.75% -567.50% -485.56%
Debt-free Net Working Capital to Revenue		 -400.00% -5,228.57% -1,850.00% 0.00% 0.00% -1,045.24% -1,065.12% -348.54% -420.22% -478.75% -405.56%
Net Working Capital to Revenue		 -436.17% -5,428.57% -1,933.33% 0.00% 0.00% -1,059.52% -1,079.07% -358.25% -432.58% -478.75% -405.56%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($3.94) ($2.92) ($1.84) ($5.34) ($1.18) ($1.07) ($1.28) ($1.12) ($0.17) ($1.01) ($0.80)
Adjusted Weighted Average Basic Shares Outstanding		 47.01M 48.21M 46.82M 47.50M 47.67M 47.44M 48.35M 49.54M 49.60M 49.28M 49.80M
Adjusted Diluted Earnings per Share		 ($3.94) ($2.92) ($1.84) ($5.34) ($1.18) ($1.07) ($1.28) ($1.12) ($0.17) ($1.01) ($0.80)
Adjusted Weighted Average Diluted Shares Outstanding		 47.01M 48.21M 46.82M 47.50M 47.67M 47.44M 48.35M 49.54M 49.60M 49.28M 49.80M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 51.14M 50.93M 51.28M 51.03M 51.03M 50.97M 50.37M 50.49M 50.49M 50.51M 50.93M
Normalized Net Operating Profit after Tax (NOPAT)		 -118 9.80 -61 -177 2.10 -90 -43 -2.80 32 34 -29
Normalized NOPAT Margin		 -1,470.00% 0.00% -468.46% 0.00% 7.24% 0.00% -310.00% -12.17% 210.00% 122.50% -119.58%
Pre Tax Income Margin		 -2,312.50% 0.00% -669.23% 0.00% -175.86% 0.00% -442.86% -243.48% -46.67% -200.00% -170.83%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.17 0.26 0.00 0.00 0.13 0.25 0.00 -0.10 1.10 0.00 0.00
NOPAT to Interest Expense		 -2.22 0.18 0.00 0.00 0.04 -1.77 0.00 -0.06 0.63 0.00 0.00
EBIT Less CapEx to Interest Expense		 -3.17 0.26 0.00 0.00 0.13 0.25 0.00 -0.10 1.10 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -2.22 0.18 0.00 0.00 0.04 -1.77 0.00 -0.06 0.63 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% -83.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -8.60% -91.79% -7.39% -2.10% -1.31% -0.90% -2.14% -3.17% -3.95% -3.83% -0.61%

Financials Breakdown Chart

Key Financial Trends

MBIA’s latest quarter shows a mixed picture: improving revenue and a strong investing contribution were not enough to offset continued operating losses and a highly leveraged balance sheet. For Q1 2026, the company posted $24 million in revenue but still reported a $42 million net loss. Cash was essentially flat during the quarter, helped by investment activity, while operating cash flow remained negative.

  • Revenue improved year over year. Q1 2026 operating revenue rose to $24 million from $14 million in Q1 2025.
  • Investing activities generated positive cash. Net cash from investing activities was $37 million in Q1 2026, supported by $132 million of investment sales and maturities.
  • Cash balance remains meaningful. MBIA ended Q1 2026 with $72 million in cash and equivalents, up from $63 million a year earlier.
  • Quarterly operating losses were smaller than last year. The company’s net loss narrowed to $42 million from $62 million in Q1 2025.
  • Shares outstanding were relatively stable. Weighted average diluted shares were 49.8 million, close to prior quarters.
  • Operating cash flow was still negative. Q1 2026 operating cash flow was $(33) million, though this was better than the much deeper outflows seen in some prior periods.
  • Interest costs remain significant. Cash interest paid was $8 million in the quarter.
  • Operating expenses still overwhelmed revenue. Q1 2026 operating expenses were $65 million versus $24 million of revenue, producing a $41 million operating loss.
  • The company is still losing money. Q1 2026 basic and diluted EPS were both $(0.80).
  • Leverage remains very high. MBIA carried $3.38 billion of long-term debt versus just $72 million of cash, leaving the balance sheet heavily debt-dependent.

Longer-term trend: MBIA’s results have been volatile, but the broader pattern over the last four years is clear. Revenue has generally hovered in the low tens of millions per quarter, while losses have been driven by large operating expense and other expense items. The company has also relied on investment portfolio activity and debt management to support cash flow, rather than consistent operating profitability.

Balance sheet snapshot: Total assets were $2.0 billion at the end of Q1 2026, while total liabilities were $4.3 billion. Common equity remained deeply negative at $(2.28) billion, underscoring the financial strain on the company.

Bottom line: MBIA showed some improvement in revenue and quarter-over-quarter losses, but it is still not producing sustainable operating earnings or positive operating cash flow. The stock likely remains a high-risk turnaround story, with the heavy debt load and negative equity profile still the biggest concerns.

07/10/26 10:42 AM ETAI Generated. May Contain Errors.

MBIA Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MBIA's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

MBIA's net income appears to be on a downward trend, with a most recent value of -$183 million in 2025, falling from $180 million in 2015. The previous period was -$444 million in 2024. Find out what analysts predict for MBIA in the coming months.

MBIA's total operating income in 2025 was $28 million, based on the following breakdown:
  • Total Gross Profit: $80 million
  • Total Operating Expenses: $52 million

Over the last 10 years, MBIA's total revenue changed from $853 million in 2015 to $80 million in 2025, a change of -90.6%.

MBIA's total liabilities were at $4.24 billion at the end of 2025, a 0.0% decrease from 2024, and a 61.8% decrease since 2015.

In the past 10 years, MBIA's cash and equivalents has ranged from $66 million in 2022 to $522 million in 2015, and is currently $71 million as of their latest financial filing in 2025.

Over the last 10 years, MBIA's book value per share changed from 24.38 in 2015 to -44.30 in 2025, a change of -281.7%.


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Financial statements for NYSE:MBI last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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