MGIC Investment (MTG) Financials

$27.81 +0.13 (+0.47%)

Closing price 03:59 PM Eastern

Extended Trading

$27.79 -0.02 (-0.08%)

As of 06:09 PM Eastern

Annual Income Statements for MGIC Investment

This table shows MGIC Investment'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
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
Net Income / (Loss) Attributable to Common Shareholders	1,172	343	356	670	674	446	635	865	713	763
Consolidated Net Income / (Loss)	1,172	343	356	670	674	446	635	865	713	763
Net Income / (Loss) Continuing Operations	1,172	343	356	670	674	446	635	865	713	763
Total Pre-Tax Income	488	515	784	844	848	559	802	1,090	902	969
Total Revenue	972	915	1,009	1,071	1,161	1,113	1,072	1,092	1,118	1,172
Net Interest Income / (Expense)	-69	-57	-57	-53	-53	-60	-71	-48	-37	-36
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	69	57	57	53	53	60	71	48	37	36
Long-Term Debt Interest Expense	69	57	57	53	53	60	71	48	37	36
Total Non-Interest Income	1,041	972	1,066	1,124	1,214	1,172	1,143	1,140	1,155	1,208
Other Service Charges	13	18	10	8.71	11	10	8.96	5.64	1.95	2.13
Net Realized & Unrealized Capital Gains on Investments	132	29	121	140	172	140	120	127	201	235
Premiums Earned	896	925	935	975	1,031	1,022	1,014	1,007	953	971
Total Non-Interest Expense	484	401	224	227	313	554	276	-5.50	216	203
Property & Liability Insurance Claims	320	240	54	37	119	365	65	-255	-21	-15
Insurance Policy Acquisition Costs	156	151	160	178	183	176	198	237	226	209
Amortization Expense	8.79	9.65	11	12	12	12	13	12	11	8.96
Income Tax Expense	-684	172	429	174	174	113	167	225	189	206
Basic Earnings per Share	$3.45	$1.00	$0.98	$1.83	$1.91	$1.31	$1.90	$2.83	$2.51	$2.92
Weighted Average Basic Shares Outstanding	339.55M	342.89M	362.38M	365.41M	352.83M	339.95M	334.33M	305.85M	283.61M	261.68M
Diluted Earnings per Share	$2.60	$0.86	$0.95	$1.78	$1.85	$1.29	$1.85	$2.79	$2.49	$2.89
Weighted Average Diluted Shares Outstanding	468.04M	431.99M	394.77M	386.08M	373.92M	359.29M	351.31M	311.23M	287.16M	264.00M
Weighted Average Basic & Diluted Shares Outstanding	339.70M	342.50M	363M	355.64M	345.85M	338.78M	315.61M	290.43M	269.67M	242.71M
Cash Dividends to Common per Share	$0.00	$0.00	$0.00	-	-	$0.06	$0.14	-	$0.22	$0.25

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	250	191	155	191	183	185	174	204	200	185	185
Consolidated Net Income / (Loss)	250	191	155	191	183	185	174	204	200	185	185
Net Income / (Loss) Continuing Operations	250	191	155	191	183	185	174	204	200	185	185
Total Pre-Tax Income	314	240	196	242	234	230	220	260	254	235	235
Total Revenue	271	289	275	281	288	274	285	297	297	293	297
Net Interest Income / (Expense)	-10	-9.38	-9.37	-9.38	-9.25	-8.90	-8.90	-8.90	-8.91	-8.90	-8.90
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	10	9.38	9.37	9.38	9.25	8.90	8.90	8.90	8.91	8.90	8.90
Long-Term Debt Interest Expense	10	9.38	9.37	9.38	9.25	8.90	8.90	8.90	8.91	8.90	8.90
Total Non-Interest Income	281	299	284	291	297	283	294	306	306	302	305
Other Service Charges	1.40	0.50	0.43	0.51	0.55	0.47	0.48	0.55	0.63	0.47	0.33
Net Realized & Unrealized Capital Gains on Investments	28	54	42	47	55	56	51	61	62	60	61
Premiums Earned	252	244	242	243	241	226	243	244	243	241	244
Total Non-Interest Expense	-43	42	79	39	53	45	66	37	43	58	63
Property & Liability Insurance Claims	-105	-31	6.45	-18	-0.08	-9.53	4.56	-18	-9.84	8.70	9.59
Insurance Policy Acquisition Costs	58	70	70	54	50	52	59	53	51	47	51
Amortization Expense	3.18	3.47	2.48	2.61	2.80	2.93	2.01	2.15	2.32	2.48	1.66
Income Tax Expense	65	49	41	51	52	45	46	56	54	50	49
Basic Earnings per Share	$0.82	$0.65	$0.53	$0.67	$0.65	$0.66	$0.64	$0.77	$0.77	$0.74	$0.76
Weighted Average Basic Shares Outstanding	302.62M	305.85M	290.99M	285.91M	281.76M	283.61M	270.31M	265.32M	258.60M	261.68M	244.15M
Diluted Earnings per Share	$0.81	$0.64	$0.53	$0.66	$0.64	$0.66	$0.64	$0.77	$0.77	$0.71	$0.75
Weighted Average Diluted Shares Outstanding	307.19M	311.23M	294.71M	289.57M	285.60M	287.16M	273.11M	266.87M	260.83M	264.00M	246.49M
Weighted Average Basic & Diluted Shares Outstanding	594.05M	290.43M	573.24M	564.64M	554.62M	269.67M	533.17M	259.23M	253.37M	242.71M	237.44M
Cash Dividends to Common per Share	-	-	$0.10	-	-	-	$0.12	-	$0.13	-	$0.13

This table details how cash moves in and out of MGIC Investment'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
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
Net Change in Cash & Equivalents	-17	-26	-56	55	14	128	8.28	28	38	-136
Net Cash From Operating Activities	161	225	407	545	610	732	696	650	713	725
Net Cash From Continuing Operating Activities	161	225	407	545	610	732	696	650	713	725
Net Income / (Loss) Continuing Operations	1,172	343	356	670	674	446	635	865	713	763
Consolidated Net Income / (Loss)	1,172	343	356	670	674	446	635	865	713	763
Depreciation Expense	53	61	64	58	49	58	66	54	35	18
Non-Cash Adjustments to Reconcile Net Income	-28	82	-0.17	15	-5.31	28	48	72	46	41
Changes in Operating Assets and Liabilities, net	-1,035	-261	-13	-199	-108	200	-53	-342	-81	-98
Net Cash From Investing Activities	-97	-93	-304	-318	-422	-773	-161	410	-179	-142
Net Cash From Continuing Investing Activities	-97	-93	-304	-318	-422	-773	-161	410	-179	-142
Purchase of Property, Leasehold Improvements and Equipment	-4.63	-11	-16	-14	-5.64	-3.31	-4.12	-3.25	-2.00	-1.17
Purchase of Investment Securities	-2,465	-1,364	-1,294	-1,459	-1,394	-2,637	-1,531	-674	-1,470	-1,556
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	-	0.00	0.00	2.34	0.00
Sale and/or Maturity of Investments	2,356	1,281	1,006	1,156	978	1,868	1,374	1,088	1,290	1,415
Net Cash From Financing Activities	-81	-157	-159	-172	-173	168	-527	-1,033	-496	-719
Net Cash From Continuing Financing Activities	-81	-157	-159	-172	-173	168	-527	-1,033	-496	-719
Repayment of Debt	-74	-578	-302	0.00	0.00	-243	-136	-526	-29	0.00
Repurchase of Common Equity	0.00	-147	0.00	-163	-126	-120	-291	-386	-337	-569
Payment of Dividends	-	-	0.00	0.00	-42	-82	-94	-111	-123	-131
Other Financing Activities, Net	-7.24	-5.03	-6.82	-8.13	-5.73	-24	-6.73	-10	-7.26	-19

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-170	83	34	-50	-42	96	69	-152	12	-65	-22
Net Cash From Operating Activities	122	166	212	145	170	186	191	169	183	182	224
Net Cash From Continuing Operating Activities	122	166	212	145	170	186	191	169	183	182	224
Net Income / (Loss) Continuing Operations	250	191	155	191	183	185	174	204	200	185	185
Consolidated Net Income / (Loss)	250	191	155	191	183	185	174	204	200	185	185
Depreciation Expense	13	11	10	9.18	9.63	6.23	6.49	4.48	3.43	4.03	2.69
Non-Cash Adjustments to Reconcile Net Income	17	3.95	19	10	4.16	12	26	5.83	4.21	5.38	17
Changes in Operating Assets and Liabilities, net	-158	-41	28	-66	-27	-17	-16	-45	-25	-12	18
Net Cash From Investing Activities	91	30	-65	-92	-84	62	26	-134	-14	-20	32
Net Cash From Continuing Investing Activities	91	30	-65	-92	-84	62	26	-134	-14	-20	32
Purchase of Property, Leasehold Improvements and Equipment	-0.26	-0.85	-0.36	-0.31	-0.78	-0.54	0.00	-0.28	-0.38	-0.51	-0.13
Purchase of Investment Securities	-168	-130	-229	-602	-389	-249	-328	-410	-377	-441	-456
Sale and/or Maturity of Investments	260	161	164	510	306	309	354	276	363	422	488
Net Cash From Financing Activities	-383	-113	-113	-103	-128	-152	-148	-187	-157	-228	-278
Net Cash From Continuing Financing Activities	-383	-113	-113	-103	-128	-152	-148	-187	-157	-228	-278
Repurchase of Common Equity	-84	-83	-76	-74	-67	-120	-95	-156	-124	-195	-225
Payment of Dividends	-30	-30	-30	-29	-32	-32	-33	-31	-34	-33	-34
Other Financing Activities, Net	-1.27	-0.14	-7.20	-	-0.05	-0.01	-19	-	-	-0.02	-19

This table presents MGIC Investment'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
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
Total Assets	5,868	5,735	5,619	5,678	6,230	7,355	7,325	6,214	6,538	6,547
Cash and Due from Banks	181	155	100	152	162	288	285	327	364	229
Restricted Cash	-	-	0.00	3.15	7.21	8.73	20	5.53	6.98	5.14
Trading Account Securities	4,663	4,692	4,991	5,156	5,755	6,680	6,604	5,424	5,738	5,866
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	40	44	46	48	50	50	52	55	59	61
Premises and Equipment, Net	30	36	45	52	50	47	46	41	39	36
Unearned Premiums Asset	48	52	54	55	56	56	57	58	58	58
Deferred Acquisition Cost	15	18	19	18	19	22	22	19	15	12
Other Assets	890	736	365	194	131	203	241	283	259	280
Total Liabilities & Shareholders' Equity	5,868	5,735	5,619	5,678	6,230	7,355	7,325	6,214	6,538	6,547
Total Liabilities	3,632	3,186	2,465	2,096	1,920	2,656	2,464	1,571	1,466	1,375
Long-Term Debt	1,212	1,179	830	832	833	1,243	1,147	663	643	645
Claims and Claim Expense	1,893	1,439	986	674	555	881	884	558	505	463
Unearned Premiums Liability	280	330	393	410	380	287	242	195	158	120
Other Long-Term Liabilities	247	238	256	180	152	245	192	155	160	147
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	2,236	2,549	3,155	3,582	4,309	4,699	4,861	4,643	5,072	5,172
Total Preferred & Common Equity	2,236	2,549	3,155	3,582	4,309	4,699	4,861	4,643	5,072	5,172
Total Common Equity	2,236	2,549	3,155	3,582	4,309	4,699	4,861	4,643	5,072	5,172
Common Stock	2,010	2,142	2,221	2,234	2,241	2,233	2,166	2,170	2,179	2,057
Retained Earnings	290	633	977	1,647	2,279	2,642	3,251	4,004	4,593	3,404
Treasury Stock	-3.36	-150	0.00	-175	-283	-393	-675	-1,050	-1,384	0.00
Accumulated Other Comprehensive Income / (Loss)	-61	-75	-44	-124	73	217	120	-482	-316	-288

This table presents MGIC Investment'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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	6,154	6,352	6,353	6,332	6,535	6,524	6,678	6,535
Cash and Due from Banks	242	358	311	267	431	282	289	207
Restricted Cash	7.78	8.36	6.00	8.58	8.22	6.02	11	5.71
Trading Account Securities	5,415	5,579	5,617	5,595	5,687	5,805	5,979	5,900
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	53	55	55	58	58	60	59	59
Premises and Equipment, Net	44	41	40	39	38	37	36	34
Unearned Premiums Asset	58	57	57	58	56	57	58	56
Deferred Acquisition Cost	20	18	17	16	14	13	13	11
Other Assets	315	237	250	290	243	265	233	262
Total Liabilities & Shareholders' Equity	6,154	6,352	6,353	6,332	6,535	6,524	6,678	6,535
Total Liabilities	1,614	1,575	1,509	1,477	1,433	1,407	1,384	1,395
Long-Term Debt	663	663	664	643	644	644	644	645
Claims and Claim Expense	603	559	531	526	504	478	461	465
Unearned Premiums Liability	208	183	172	165	149	139	130	112
Other Long-Term Liabilities	140	169	143	144	136	147	149	173
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,540	4,778	4,844	4,855	5,102	5,117	5,294	5,140
Total Preferred & Common Equity	4,540	4,778	4,844	4,855	5,102	5,117	5,294	5,140
Total Common Equity	4,540	4,778	4,844	4,855	5,102	5,117	5,294	5,140
Common Stock	2,163	2,163	2,171	2,171	2,159	2,167	2,173	2,037
Retained Earnings	3,843	4,129	4,291	4,441	4,735	4,908	5,074	3,340
Accumulated Other Comprehensive Income / (Loss)	-496	-395	-425	-497	-326	-333	-204	-236

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.44%	-5.82%	10.23%	6.14%	8.45%	-4.18%	-3.71%	1.91%	2.40%	4.82%
EBITDA Growth	78.01%	6.63%	47.37%	6.29%	-0.62%	-31.19%	39.68%	33.62%	-18.61%	5.30%
EBIT Growth	91.53%	5.54%	52.41%	7.60%	0.45%	-34.05%	42.32%	37.89%	-17.79%	7.37%
NOPAT Growth	365.17%	-70.78%	3.87%	88.36%	0.55%	-33.79%	42.34%	36.28%	-17.61%	7.02%
Net Income Growth	365.17%	-70.78%	3.87%	88.36%	0.55%	-33.79%	42.34%	36.28%	-17.61%	7.02%
EPS Growth	306.25%	-66.92%	10.47%	87.37%	3.93%	-30.27%	43.41%	50.81%	-10.75%	16.06%
Operating Cash Flow Growth	139.82%	39.26%	80.93%	33.90%	11.94%	20.14%	-4.91%	-6.65%	9.68%	1.69%
Free Cash Flow Firm Growth	393.34%	9.62%	56.42%	145.55%	-122.66%	-546.97%	260.70%	175.52%	-80.66%	118.00%
Invested Capital Growth	47.77%	8.11%	6.90%	10.75%	16.51%	15.56%	1.11%	-11.69%	7.72%	1.78%
Revenue Q/Q Growth	1.85%	1.02%	0.79%	1.34%	2.32%	-1.28%	-4.48%	5.36%	-1.34%	1.60%
EBITDA Q/Q Growth	7.47%	10.74%	10.68%	-5.58%	3.23%	-4.39%	2.56%	2.64%	-2.41%	0.37%
EBIT Q/Q Growth	7.49%	11.49%	11.90%	-5.67%	3.41%	-5.49%	2.91%	3.24%	-1.95%	0.61%
NOPAT Q/Q Growth	2.45%	1.50%	-18.39%	24.17%	2.96%	-5.44%	3.67%	2.07%	-0.96%	0.03%
Net Income Q/Q Growth	2.45%	1.50%	-18.39%	24.17%	2.96%	-5.44%	3.67%	2.07%	-0.96%	0.03%
EPS Q/Q Growth	1.17%	8.86%	-18.10%	23.61%	3.35%	-2.27%	3.93%	4.49%	0.81%	1.76%
Operating Cash Flow Q/Q Growth	139.39%	28.18%	22.44%	2.00%	-1.55%	10.92%	-5.37%	-2.65%	2.89%	-0.53%
Free Cash Flow Firm Q/Q Growth	386.21%	194.87%	-58.44%	34.86%	-225.02%	-21.09%	130.82%	-11.29%	-28.65%	105.36%
Invested Capital Q/Q Growth	0.09%	-0.89%	0.62%	2.14%	3.00%	3.23%	-1.86%	1.98%	3.96%	-2.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	55.59%	62.94%	84.14%	84.27%	77.22%	55.45%	80.44%	105.47%	83.84%	84.22%
EBIT Margin	50.18%	56.24%	77.75%	78.83%	73.02%	50.26%	74.28%	100.50%	80.69%	82.65%
Profit (Net Income) Margin	120.59%	37.42%	35.26%	62.58%	58.02%	40.09%	59.26%	79.24%	63.76%	65.09%
Tax Burden Percent	240.32%	66.55%	45.35%	79.38%	79.46%	79.76%	79.20%	79.39%	79.02%	78.76%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.74%	99.32%	100.00%	100.00%
Effective Tax Rate	-140.32%	33.45%	54.65%	20.62%	20.54%	20.24%	20.80%	20.61%	20.98%	21.24%
Return on Invested Capital (ROIC)	40.54%	9.55%	9.23%	15.96%	14.10%	8.05%	10.63%	15.30%	12.94%	13.23%
ROIC Less NNEP Spread (ROIC-NNEP)	40.54%	9.55%	9.23%	15.96%	14.10%	8.05%	10.63%	15.30%	12.94%	13.23%
Return on Net Nonoperating Assets (RNNOA)	31.07%	4.77%	3.25%	3.94%	2.97%	1.85%	2.66%	2.91%	1.74%	1.66%
Return on Equity (ROE)	71.62%	14.32%	12.48%	19.89%	17.08%	9.90%	13.28%	18.21%	14.68%	14.90%
Cash Return on Invested Capital (CROIC)	1.99%	1.75%	2.55%	5.75%	-1.15%	-6.39%	9.52%	27.72%	5.50%	11.47%
Operating Return on Assets (OROA)	8.76%	8.87%	13.82%	14.94%	14.24%	8.23%	10.84%	16.21%	14.15%	14.81%
Return on Assets (ROA)	21.05%	5.90%	6.27%	11.86%	11.32%	6.57%	8.65%	12.78%	11.18%	11.66%
Return on Common Equity (ROCE)	71.62%	14.32%	12.48%	19.89%	17.08%	9.90%	13.28%	18.21%	14.68%	14.90%
Return on Equity Simple (ROE_SIMPLE)	52.41%	13.44%	11.28%	18.71%	15.64%	9.49%	13.06%	18.64%	14.06%	14.75%
Net Operating Profit after Tax (NOPAT)	1,172	343	356	670	674	446	635	865	713	763
NOPAT Margin	120.59%	37.42%	35.26%	62.58%	58.02%	40.09%	59.26%	79.24%	63.76%	65.09%
Net Nonoperating Expense Percent (NNEP)	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%	0.00%	0.00%
Operating Expenses to Revenue	49.82%	43.76%	22.25%	21.17%	26.98%	49.74%	25.72%	-0.50%	19.31%	17.35%
Earnings before Interest and Taxes (EBIT)	488	515	784	844	848	559	796	1,097	902	969
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	540	576	849	902	897	617	862	1,152	937	987
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.19	1.20	1.47	0.93	1.02	0.83	0.90	0.79	1.03	1.16
Price to Tangible Book Value (P/TBV)	1.19	1.20	1.47	0.93	1.02	0.83	0.90	0.79	1.03	1.16
Price to Revenue (P/Rev)	2.73	3.35	4.58	3.12	3.80	3.49	4.09	3.35	4.65	5.10
Price to Earnings (P/E)	2.26	8.96	12.99	4.99	6.54	8.71	6.90	4.23	7.30	7.83
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.95%	2.09%	2.08%	2.92%	2.29%	2.08%
Earnings Yield	44.21%	11.16%	7.70%	20.04%	15.29%	11.48%	14.50%	23.66%	13.70%	12.77%
Enterprise Value to Invested Capital (EV/IC)	1.07	1.10	1.34	0.91	0.99	0.81	0.87	0.75	0.96	1.10
Enterprise Value to Revenue (EV/Rev)	3.79	4.47	5.31	3.75	4.37	4.34	4.87	3.65	4.90	5.45
Enterprise Value to EBITDA (EV/EBITDA)	6.82	7.10	6.31	4.45	5.66	7.83	6.06	3.46	5.84	6.47
Enterprise Value to EBIT (EV/EBIT)	7.55	7.95	6.82	4.76	5.98	8.64	6.56	3.63	6.07	6.59
Enterprise Value to NOPAT (EV/NOPAT)	3.14	11.95	15.05	6.00	7.53	10.83	8.22	4.61	7.68	8.37
Enterprise Value to Operating Cash Flow (EV/OCF)	22.81	18.21	13.16	7.38	8.32	6.60	7.50	6.13	7.68	8.81
Enterprise Value to Free Cash Flow (EV/FCFF)	64.17	65.05	54.40	16.64	0.00	0.00	9.18	2.54	18.06	9.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.54	0.46	0.26	0.23	0.19	0.26	0.24	0.14	0.13	0.12
Long-Term Debt to Equity	0.54	0.46	0.26	0.23	0.19	0.26	0.24	0.14	0.13	0.12
Financial Leverage	0.77	0.50	0.35	0.25	0.21	0.23	0.25	0.19	0.13	0.13
Leverage Ratio	3.40	2.42	1.99	1.68	1.51	1.51	1.54	1.42	1.31	1.28
Compound Leverage Factor	3.40	2.42	1.99	1.68	1.51	1.51	1.55	1.41	1.31	1.28
Debt to Total Capital	35.15%	31.62%	20.84%	18.84%	16.19%	20.92%	19.09%	12.49%	11.25%	11.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	35.15%	31.62%	20.84%	18.84%	16.19%	20.92%	19.09%	12.49%	11.25%	11.08%
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%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.85%	68.38%	79.16%	81.16%	83.81%	79.08%	80.91%	87.51%	88.75%	88.92%
Debt to EBITDA	2.24	2.05	0.98	0.92	0.93	2.01	1.33	0.58	0.69	0.65
Net Debt to EBITDA	1.91	1.78	0.86	0.75	0.74	1.53	0.98	0.29	0.29	0.42
Long-Term Debt to EBITDA	2.24	2.05	0.98	0.92	0.93	2.01	1.33	0.58	0.69	0.65
Debt to NOPAT	1.03	3.44	2.33	1.24	1.24	2.79	1.81	0.77	0.90	0.84
Net Debt to NOPAT	0.88	2.99	2.05	1.01	0.99	2.12	1.33	0.38	0.38	0.54
Long-Term Debt to NOPAT	1.03	3.44	2.33	1.24	1.24	2.79	1.81	0.77	0.90	0.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	57	63	98	242	-55	-354	569	1,568	303	661
Operating Cash Flow to CapEx	3,485.85%	2,130.02%	2,531.17%	3,824.39%	10,814.98%	22,117.46%	16,921.43%	19,975.78%	0.00%	61,757.41%
Free Cash Flow to Firm to Interest Expense	0.83	1.11	1.73	4.56	-1.04	-5.94	7.97	32.63	8.22	18.57
Operating Cash Flow to Interest Expense	2.34	3.97	7.13	10.28	11.58	12.29	9.76	13.53	19.32	20.36
Operating Cash Flow Less CapEx to Interest Expense	2.27	3.78	6.85	10.01	11.47	12.23	9.70	13.46	19.33	20.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.16	0.18	0.19	0.20	0.16	0.15	0.16	0.18	0.18
Fixed Asset Turnover	33.06	27.66	24.91	22.15	22.80	22.88	23.10	25.09	27.89	31.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,448	3,728	3,985	4,413	5,142	5,942	6,008	5,306	5,715	5,817
Invested Capital Turnover	0.34	0.26	0.26	0.26	0.24	0.20	0.18	0.19	0.20	0.20
Increase / (Decrease) in Invested Capital	1,115	280	257	429	728	800	66	-703	410	102
Enterprise Value (EV)	3,682	4,092	5,352	4,020	5,072	4,833	5,221	3,987	5,476	6,386
Market Capitalization	2,651	3,068	4,622	3,343	4,408	3,886	4,379	3,657	5,204	5,976
Book Value per Share	$6.58	$7.48	$8.51	$9.91	$12.36	$13.88	$14.93	$15.63	$18.29	$20.41
Tangible Book Value per Share	$6.58	$7.48	$8.51	$9.91	$12.36	$13.88	$14.93	$15.63	$18.29	$20.41
Total Capital	3,448	3,728	3,985	4,413	5,142	5,942	6,008	5,306	5,715	5,817
Total Debt	1,212	1,179	830	832	833	1,243	1,147	663	643	645
Total Long-Term Debt	1,212	1,179	830	832	833	1,243	1,147	663	643	645
Net Debt	1,031	1,023	731	677	664	947	842	330	273	410
Capital Expenditures (CapEx)	4.63	11	16	14	5.64	3.31	4.12	3.25	-0.34	1.17
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	1,212	1,179	830	832	833	1,243	1,147	663	643	645
Total Depreciation and Amortization (D&A)	53	61	64	58	49	58	66	54	35	18
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.45	$1.00	$0.98	$1.83	$1.91	$1.31	$1.90	$2.83	$2.51	$2.92
Adjusted Weighted Average Basic Shares Outstanding	339.55M	342.89M	362.38M	365.41M	352.83M	339.95M	334.33M	305.85M	283.61M	261.68M
Adjusted Diluted Earnings per Share	$2.60	$0.86	$0.95	$1.78	$1.85	$1.29	$1.85	$2.79	$2.49	$2.89
Adjusted Weighted Average Diluted Shares Outstanding	468.04M	431.99M	394.77M	386.08M	373.92M	359.29M	351.31M	311.23M	287.16M	264.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.91	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	340.01M	340.99M	370.86M	355.64M	345.85M	338.78M	315.61M	290.43M	269.67M	242.71M
Normalized Net Operating Profit after Tax (NOPAT)	341	343	549	670	674	446	635	865	713	763
Normalized NOPAT Margin	35.13%	37.42%	54.43%	62.58%	58.02%	40.09%	59.26%	79.24%	63.76%	65.09%
Pre Tax Income Margin	50.18%	56.24%	77.75%	78.83%	73.02%	50.26%	74.82%	99.82%	80.69%	82.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.07	9.08	13.75	15.93	16.10	9.38	11.15	22.84	24.45	27.21
NOPAT to Interest Expense	17.00	6.04	6.24	12.65	12.80	7.49	8.90	18.01	19.32	21.43
EBIT Less CapEx to Interest Expense	7.01	8.90	13.47	15.66	16.00	9.33	11.10	22.77	24.46	27.18
NOPAT Less CapEx to Interest Expense	16.94	5.86	5.96	12.38	12.69	7.43	8.84	17.94	19.33	21.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	6.22%	18.40%	14.84%	12.82%	17.25%	17.10%
Augmented Payout Ratio	0.00%	42.95%	0.00%	24.39%	24.89%	45.30%	60.64%	57.38%	64.54%	91.74%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.47%	23.73%	6.28%	2.94%	6.31%	-5.23%	3.96%	5.46%	3.20%	6.74%	3.90%
EBITDA Growth	50.90%	12.96%	-12.65%	-23.77%	-25.29%	-8.96%	9.99%	5.18%	5.08%	1.56%	4.54%
EBIT Growth	57.34%	16.19%	-11.17%	-23.27%	-25.19%	-7.27%	12.41%	7.31%	7.92%	2.56%	6.39%
NOPAT Growth	58.01%	10.07%	-11.69%	-23.35%	-26.75%	-3.62%	12.65%	6.90%	9.37%	0.11%	6.53%
Net Income Growth	58.01%	10.07%	-11.69%	-23.35%	-26.75%	-3.62%	12.65%	6.90%	9.37%	0.11%	6.53%
EPS Growth	76.09%	23.08%	-1.85%	-17.50%	-20.99%	3.13%	20.75%	16.67%	20.31%	7.58%	17.19%
Operating Cash Flow Growth	-25.08%	-9.62%	-6.90%	8.22%	39.02%	12.05%	-10.25%	16.99%	7.72%	-2.08%	17.38%
Free Cash Flow Firm Growth	662.19%	727.62%	-57.16%	-81.01%	-109.58%	-125.19%	-150.50%	-128.03%	-115.11%	136.81%	211.80%
Invested Capital Growth	-15.02%	-11.69%	-1.89%	0.31%	5.67%	7.72%	5.61%	4.59%	8.02%	1.78%	0.68%
Revenue Q/Q Growth	-0.88%	6.88%	-5.15%	2.44%	2.36%	-4.72%	4.05%	3.92%	0.17%	-1.45%	1.28%
EBITDA Q/Q Growth	-0.74%	-21.07%	-20.41%	22.24%	-2.72%	-3.82%	-3.83%	16.88%	-2.81%	-7.04%	-1.01%
EBIT Q/Q Growth	-0.51%	-21.36%	-20.85%	23.91%	-3.01%	-2.53%	-4.05%	18.29%	-2.46%	-7.37%	-0.46%
NOPAT Q/Q Growth	0.14%	-23.31%	-19.27%	23.62%	-4.30%	0.91%	-5.64%	17.31%	-2.09%	-7.64%	0.41%
Net Income Q/Q Growth	0.14%	-23.31%	-19.27%	23.62%	-4.30%	0.91%	-5.64%	17.31%	-2.09%	-7.64%	0.41%
EPS Q/Q Growth	1.25%	-20.99%	-17.19%	24.53%	-3.03%	3.13%	-3.03%	20.31%	0.00%	-7.79%	5.63%
Operating Cash Flow Q/Q Growth	-8.64%	36.12%	27.71%	-31.86%	17.35%	9.71%	2.30%	-11.18%	8.06%	-0.27%	22.63%
Free Cash Flow Firm Q/Q Growth	27.45%	-23.53%	-70.99%	-32.84%	-164.29%	-101.08%	41.82%	62.73%	-393.43%	134.40%	76.72%
Invested Capital Q/Q Growth	-5.25%	1.98%	2.55%	1.23%	-0.19%	3.96%	0.54%	0.26%	3.08%	-2.04%	-0.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	120.93%	89.31%	74.95%	89.43%	84.99%	85.79%	79.30%	89.19%	86.53%	81.63%	79.78%
EBIT Margin	116.02%	85.37%	71.23%	86.17%	81.64%	83.52%	77.03%	87.68%	85.38%	80.25%	78.88%
Profit (Net Income) Margin	92.16%	66.13%	56.28%	67.92%	63.50%	67.25%	60.99%	68.84%	67.29%	63.07%	62.53%
Tax Burden Percent	79.43%	79.62%	79.01%	78.82%	78.01%	80.27%	79.18%	78.60%	78.64%	78.69%	79.03%
Interest Burden Percent	100.00%	97.29%	100.00%	100.00%	99.70%	100.30%	100.00%	99.89%	100.23%	99.87%	100.32%
Effective Tax Rate	20.57%	20.38%	20.99%	21.18%	21.99%	19.73%	20.82%	21.40%	21.36%	21.31%	20.97%
Return on Invested Capital (ROIC)	16.87%	12.77%	11.35%	13.79%	13.45%	13.65%	12.31%	13.98%	13.58%	12.82%	12.83%
ROIC Less NNEP Spread (ROIC-NNEP)	16.87%	12.77%	11.35%	13.79%	13.45%	13.65%	12.31%	13.98%	13.58%	12.82%	12.83%
Return on Net Nonoperating Assets (RNNOA)	3.42%	2.43%	1.93%	2.32%	1.87%	1.83%	1.63%	1.84%	1.72%	1.61%	1.61%
Return on Equity (ROE)	20.29%	15.20%	13.29%	16.10%	15.32%	15.48%	13.94%	15.82%	15.30%	14.43%	14.45%
Cash Return on Invested Capital (CROIC)	31.21%	27.72%	17.29%	14.00%	7.95%	5.50%	7.64%	8.74%	5.63%	11.47%	12.75%
Operating Return on Assets (OROA)	17.60%	13.77%	11.96%	14.85%	14.82%	14.65%	13.50%	15.58%	15.14%	14.38%	14.28%
Return on Assets (ROA)	13.98%	10.67%	9.45%	11.71%	11.53%	11.79%	10.69%	12.24%	11.93%	11.30%	11.32%
Return on Common Equity (ROCE)	20.29%	15.20%	13.29%	16.10%	15.32%	15.48%	13.94%	15.82%	15.30%	14.43%	14.45%
Return on Equity Simple (ROE_SIMPLE)	18.67%	0.00%	17.68%	16.24%	14.83%	0.00%	14.36%	14.57%	14.41%	0.00%	15.07%
Net Operating Profit after Tax (NOPAT)	250	191	155	191	183	185	174	204	200	185	185
NOPAT Margin	92.16%	66.13%	56.28%	67.92%	63.50%	67.25%	60.99%	68.84%	67.29%	63.07%	62.53%
Net Nonoperating Expense Percent (NNEP)	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%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-16.02%	14.63%	28.77%	13.83%	18.36%	16.48%	22.97%	12.32%	14.62%	19.75%	21.12%
Earnings before Interest and Taxes (EBIT)	314	247	196	242	235	229	220	260	254	235	234
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	328	259	206	252	245	235	226	265	257	239	237
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.81	0.79	0.79	0.91	0.95	1.03	1.20	1.12	1.25	1.16	1.17
Price to Tangible Book Value (P/TBV)	0.81	0.79	0.79	0.91	0.95	1.03	1.20	1.12	1.25	1.16	1.17
Price to Revenue (P/Rev)	3.57	3.35	3.39	3.93	4.06	4.65	5.43	4.99	5.75	5.10	5.08
Price to Earnings (P/E)	4.36	4.23	4.45	5.58	6.39	7.30	8.37	7.66	8.70	7.83	7.77
Dividend Yield	2.79%	2.92%	2.94%	2.61%	2.55%	2.29%	2.01%	2.15%	1.86%	2.08%	2.04%
Earnings Yield	22.94%	23.66%	22.49%	17.91%	15.64%	13.70%	11.94%	13.05%	11.49%	12.77%	12.88%
Enterprise Value to Invested Capital (EV/IC)	0.79	0.75	0.75	0.86	0.90	0.96	1.10	1.05	1.18	1.10	1.11
Enterprise Value to Revenue (EV/Rev)	3.96	3.65	3.66	4.25	4.39	4.90	5.61	5.30	6.05	5.45	5.45
Enterprise Value to EBITDA (EV/EBITDA)	3.66	3.46	3.61	4.54	5.17	5.84	6.61	6.25	7.10	6.47	6.46
Enterprise Value to EBIT (EV/EBIT)	3.87	3.63	3.78	4.74	5.40	6.07	6.84	6.43	7.25	6.59	6.56
Enterprise Value to NOPAT (EV/NOPAT)	4.85	4.61	4.80	6.02	6.90	7.68	8.65	8.14	9.15	8.37	8.33
Enterprise Value to Operating Cash Flow (EV/OCF)	6.15	6.13	6.39	7.34	7.17	7.68	9.17	8.48	9.58	8.81	8.50
Enterprise Value to Free Cash Flow (EV/FCFF)	2.32	2.54	4.27	6.16	11.69	18.06	14.83	12.32	21.68	9.66	8.77
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.14	0.14	0.14	0.13	0.13	0.13	0.13	0.12	0.12	0.13
Long-Term Debt to Equity	0.15	0.14	0.14	0.14	0.13	0.13	0.13	0.13	0.12	0.12	0.13
Financial Leverage	0.20	0.19	0.17	0.17	0.14	0.13	0.13	0.13	0.13	0.13	0.13
Leverage Ratio	1.45	1.42	1.41	1.38	1.33	1.31	1.30	1.29	1.28	1.28	1.28
Compound Leverage Factor	1.45	1.39	1.41	1.38	1.33	1.32	1.30	1.29	1.28	1.28	1.28
Debt to Total Capital	12.74%	12.49%	12.19%	12.05%	11.69%	11.25%	11.20%	11.18%	10.85%	11.08%	11.15%
Short-Term Debt 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%
Long-Term Debt to Total Capital	12.74%	12.49%	12.19%	12.05%	11.69%	11.25%	11.20%	11.18%	10.85%	11.08%	11.15%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.26%	87.51%	87.81%	87.95%	88.31%	88.75%	88.80%	88.82%	89.15%	88.92%	88.85%
Debt to EBITDA	0.59	0.58	0.59	0.64	0.67	0.69	0.67	0.66	0.66	0.65	0.65
Net Debt to EBITDA	0.37	0.29	0.26	0.33	0.38	0.29	0.21	0.37	0.35	0.42	0.43
Long-Term Debt to EBITDA	0.59	0.58	0.59	0.64	0.67	0.69	0.67	0.66	0.66	0.65	0.65
Debt to NOPAT	0.78	0.77	0.78	0.84	0.89	0.90	0.88	0.86	0.84	0.84	0.83
Net Debt to NOPAT	0.49	0.38	0.35	0.44	0.51	0.38	0.28	0.48	0.45	0.54	0.56
Long-Term Debt to NOPAT	0.78	0.77	0.78	0.84	0.89	0.90	0.88	0.86	0.84	0.84	0.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,169	894	259	174	-112	-225	-131	-49	-241	83	146
Operating Cash Flow to CapEx	47,700.78%	19,509.27%	58,480.99%	46,968.18%	22,337.89%	0.00%	0.00%	60,658.78%	47,999.74%	35,482.10%	178,923.20%
Free Cash Flow to Firm to Interest Expense	113.51	95.30	27.67	18.57	-12.10	-25.30	-14.72	-5.49	-27.05	9.31	16.46
Operating Cash Flow to Interest Expense	11.86	17.72	22.65	15.43	18.35	20.93	21.41	19.02	20.54	20.49	25.13
Operating Cash Flow Less CapEx to Interest Expense	11.83	17.63	22.61	15.39	18.26	21.11	21.41	18.99	20.49	20.44	25.12
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.16	0.17	0.17	0.18	0.18	0.18	0.18	0.18	0.18	0.18
Fixed Asset Turnover	23.16	25.09	25.84	26.34	27.12	27.89	28.88	29.94	30.52	31.49	32.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,203	5,306	5,441	5,508	5,498	5,715	5,746	5,761	5,938	5,817	5,785
Invested Capital Turnover	0.18	0.19	0.20	0.20	0.21	0.20	0.20	0.20	0.20	0.20	0.21
Increase / (Decrease) in Invested Capital	-919	-703	-105	17	295	410	305	253	441	102	39
Enterprise Value (EV)	4,109	3,987	4,054	4,739	4,970	5,476	6,337	6,069	6,981	6,386	6,447
Market Capitalization	3,696	3,657	3,757	4,392	4,602	5,204	6,133	5,713	6,636	5,976	6,014
Book Value per Share	$14.96	$15.63	$16.45	$16.90	$17.20	$18.29	$18.88	$19.19	$20.42	$20.41	$21.18
Tangible Book Value per Share	$14.96	$15.63	$16.45	$16.90	$17.20	$18.29	$18.88	$19.19	$20.42	$20.41	$21.18
Total Capital	5,203	5,306	5,441	5,508	5,498	5,715	5,746	5,761	5,938	5,817	5,785
Total Debt	663	663	663	664	643	643	644	644	644	645	645
Total Long-Term Debt	663	663	663	664	643	643	644	644	644	645	645
Net Debt	413	330	297	347	368	273	204	356	345	410	432
Capital Expenditures (CapEx)	0.26	0.85	0.36	0.31	0.76	-1.63	0.00	0.28	0.38	0.51	0.13
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	663	663	663	664	643	643	644	644	644	645	645
Total Depreciation and Amortization (D&A)	13	11	10	9.18	9.63	6.23	6.49	4.48	3.43	4.03	2.69
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.82	$0.65	$0.53	$0.67	$0.65	$0.66	$0.64	$0.77	$0.77	$0.74	$0.76
Adjusted Weighted Average Basic Shares Outstanding	302.62M	305.85M	290.99M	285.91M	281.76M	283.61M	270.31M	265.32M	258.60M	261.68M	244.15M
Adjusted Diluted Earnings per Share	$0.81	$0.64	$0.53	$0.66	$0.64	$0.66	$0.64	$0.77	$0.77	$0.71	$0.75
Adjusted Weighted Average Diluted Shares Outstanding	307.19M	311.23M	294.71M	289.57M	285.60M	287.16M	273.11M	266.87M	260.83M	264.00M	246.49M
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	594.05M	290.43M	573.24M	564.64M	554.62M	269.67M	533.17M	259.23M	253.37M	242.71M	237.44M
Normalized Net Operating Profit after Tax (NOPAT)	250	191	155	191	183	185	174	204	200	185	185
Normalized NOPAT Margin	92.16%	66.13%	56.28%	67.92%	63.50%	67.25%	60.99%	68.84%	67.29%	63.07%	62.53%
Pre Tax Income Margin	116.02%	83.05%	71.23%	86.17%	81.40%	83.78%	77.03%	87.59%	85.58%	80.15%	79.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	30.51	26.34	20.87	25.85	25.40	25.75	24.71	29.23	28.49	26.41	26.29
NOPAT to Interest Expense	24.24	20.41	16.49	20.37	19.76	20.73	19.56	22.95	22.46	20.76	20.84
EBIT Less CapEx to Interest Expense	30.49	26.25	20.83	25.82	25.32	25.93	24.71	29.20	28.45	26.35	26.27
NOPAT Less CapEx to Interest Expense	24.21	20.32	16.45	20.34	19.68	20.91	19.56	22.92	22.41	20.70	20.83
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.65%	12.82%	13.60%	15.11%	16.79%	17.25%	17.23%	17.19%	16.96%	17.10%	16.93%
Augmented Payout Ratio	65.00%	57.38%	53.62%	55.36%	58.35%	64.54%	65.86%	75.96%	81.89%	91.74%	107.26%

Key Financial Trends

MGIC Investment Corp (NYSE: MTG) has demonstrated consistent financial performance over the past several quarters, with Q1 2025 results reflective of steady growth and strong profitability relative to prior periods.

Revenue and Income Trends:

Q1 2025 total revenue increased slightly to approximately $296.6 million, up from $292.9 million in Q4 2024, driven by higher premiums earned and net realized & unrealized capital gains on investments.
Premiums earned edged up to about $244 million in Q1 2025, continuing a stable revenue stream consistent over recent quarters.
Net realized and unrealized capital gains increased to $61.4 million in Q1 2025, supporting the rise in total non-interest income and overall revenue.
Net income attributable to common shareholders rose marginally to $185.5 million in Q1 2025, with diluted EPS increasing to $0.75, compared to $0.71 in Q4 2024, reflecting solid profitability.
Interest expense related to long-term debt remained stable at around $8.9 million, resulting in a net interest expense figure consistent across the periods.
Total non-interest expenses increased to $62.7 million in Q1 2025 from $57.8 million in Q4 2024, primarily due to higher insurance policy acquisition costs and amortization expense, indicating rising operating costs.
Income tax expense was somewhat stable, reflecting the company's effective tax rate and impacting net income predictably.

Cash Flow and Capital Allocation:

Net cash provided by operating activities increased to $223.7 million in Q1 2025 compared to $182.4 million in Q4 2024, signaling strong cash generation from core business operations.
Investing activities delivered positive net cash inflows ($32.4 million in Q1 2025), aided by higher sales and/or maturities of investments exceeding purchases.
Cash used in financing activities rose to $278.0 million in Q1 2025, primarily from significant common equity repurchases ($225 million) and dividends paid ($33.9 million), indicating aggressive capital return strategies which reduce liquidity.
Overall, net change in cash & equivalents showed a decrease of approximately $21.9 million in Q1 2025.

Balance Sheet Highlights:

Total assets stood broadly stable at about $6.54 billion in Q1 2025 versus $6.68 billion in Q3 2024, highlighting asset management consistency.
Strong common equity of approximately $5.14 billion provided a solid capital base.
Long-term debt hovered consistently around $645 million, and total liabilities were around $1.4 billion, indicating stable leverage levels.
Cash and due from banks decreased slightly to about $207 million in Q1 2025 from $289 million in Q3 2024, influenced by capital return activities.
Accumulated other comprehensive loss widened slightly to -$236 million, largely reflecting market factors impacting accumulated OCI balances.

Summary:

MGIC Investment shows stable and growing earnings driven by premiums and investment gains, with EPS trending upward. Operating cash flows are robust, supporting capital return programs through share repurchases and dividends, which are substantial but appear sustainable given the company's capital position. Operating expenses are increasing moderately and should be monitored, but capital structure and liquidity remain healthy. Overall, the company’s financial health appears sound with positive momentum in revenue and earnings while prudently returning cash to shareholders.

08/29/25 06:57 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About MGIC Investment's Financials

When does MGIC Investment's fiscal year end?

According to the most recent income statement we have on file, MGIC Investment's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has MGIC Investment's net income changed over the last 9 years?

MGIC Investment's net income for the last 5 years looks like this:

2020: $446.09 million
2021: $634.98 million
2022: $865.35 million
2023: $712.95 million
2024: $762.99 million

See MGIC Investment's forecast for analyst expectations on what’s next for the company.

How has MGIC Investment's revenue changed over the last 9 years?

Over the last 9 years, MGIC Investment's total revenue changed from $971.85 million in 2015 to $1.17 billion in 2024, a change of 20.6%.

How much debt does MGIC Investment have?

MGIC Investment's total liabilities were at $1.37 billion at the end of 2024, a 6.2% decrease from 2023, and a 62.1% decrease since 2015.

How much cash does MGIC Investment have?

In the past 9 years, MGIC Investment's cash and equivalents has ranged from $99.85 million in 2017 to $363.67 million in 2023, and is currently $229.49 million as of their latest financial filing in 2024.

How has MGIC Investment's book value per share changed over the last 9 years?

Over the last 9 years, MGIC Investment's book value per share changed from 6.58 in 2015 to 20.41 in 2024, a change of 210.1%.

Related Companies

This page (NYSE:MTG) was last updated on 8/29/2025 by MarketBeat.com Staff

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MGIC Investment (MTG) Financials

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MGIC Investment (MTG) Financials

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