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MBIA INC

MBI Clue Score16
United States Fiscal year ends December CIK 0000814585
$4.52 -1.31% Close, 9 Oct 2026
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Price $4.52 −62.18% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2017Revenue433.0Net income−1,605.0EPS, diluted−13.50Fiscal year 2018Revenue162.0 −62.6%Net income−296.0EPS, diluted−3.33Fiscal year 2019Revenue280.0 +72.8%Net income−359.0EPS, diluted−4.43Fiscal year 2020Revenue282.0 +0.7%Net income−578.0EPS, diluted−9.78Fiscal year 2021Revenue189.0 −33.0%Net income−445.0EPS, diluted−8.99Fiscal year 2022Revenue154.0 −18.5%Net income−195.0EPS, diluted−3.92Fiscal year 2023Revenue7.0 −95.5%Net income477.0EPS, diluted−10.18Fiscal year 2024Revenue42.0 +500.0%Net income435.0 −8.8%EPS, diluted−9.43Fiscal year 2025Revenue80.0 +90.5%Net income−177.0 −140.7%EPS, diluted−3.58
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 433.0 162.0 280.0 282.0 189.0 154.0 7.0 42.0 80.0
Growth −62.6% +72.8% +0.7% −33.0% −18.5% −95.5% +500.0% +90.5%
Net income −1,605.0 −296.0 −359.0 −578.0 −445.0 −195.0 477.0 435.0 −177.0
Growth −8.8% −140.7%
EPS, diluted −13.50 −3.33 −4.43 −9.78 −8.99 −3.92 −10.18 −9.43 −3.58
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2017Net margin−370.7%Free cash flow margin−150.8%Fiscal year 2018Net margin−182.7%Free cash flow margin−197.5%Fiscal year 2019Net margin−128.2%Free cash flow margin−131.4%Fiscal year 2020Net margin−205.0%Free cash flow margin−138.3%Fiscal year 2021Net margin−235.4%Free cash flow margin269.8%Fiscal year 2022Net margin−126.6%Free cash flow margin−271.4%Fiscal year 2023Net margin6,814.3%Free cash flow margin−2,785.7%Fiscal year 2024Net margin1,035.7%Fiscal year 2025Net margin−221.3%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin −370.7% −182.7% −128.2% −205.0% −235.4% −126.6% 6,814.3% 1,035.7% −221.3%
Free cash flow margin −150.8% −197.5% −131.4% −138.3% 269.8% −271.4% −2,785.7% n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−652.0Capital expenditure−1.0Free cash flow−653.0Buybacks−330.0Fiscal year 2018Operating cash flow−319.0Capital expenditure−1.0Free cash flow−320.0Buybacks−44.0Fiscal year 2019Operating cash flow−368.0Capital expenditure0.0Free cash flow−368.0Buybacks−106.0Fiscal year 2020Operating cash flow−390.0Capital expenditure0.0Free cash flow−390.0Buybacks−200.0Fiscal year 2021Operating cash flow511.0Capital expenditure−1.0Free cash flow510.0Buybacks−1.0Dividends paid0.0Fiscal year 2022Operating cash flow−418.0Capital expenditure0.0Free cash flow−418.0 −182.0%Buybacks−3.0Dividends paid0.0Fiscal year 2023Operating cash flow−195.0Capital expenditure0.0Free cash flow−195.0Buybacks−38.0Dividends paid−409.0Fiscal year 2024Operating cash flow−176.0Buybacks−4.0Dividends paid0.0Fiscal year 2025Operating cash flow38.0Buybacks−7.0Dividends paid0.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −652.0 −319.0 −368.0 −390.0 511.0 −418.0 −195.0 −176.0 38.0
Capital expenditure −1.0 −1.0 0.0 0.0 −1.0 0.0 0.0 n/a n/a
Free cash flow −653.0 −320.0 −368.0 −390.0 510.0 −418.0 −195.0 n/a n/a
Growth −182.0%
Buybacks −330.0 −44.0 −106.0 −200.0 −1.0 −3.0 −38.0 −4.0 −7.0
Dividends paid n/a n/a n/a n/a 0.0 0.0 −409.0 0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash146.0Total debt2,121.0Net cash (debt)−1,975.0Shareholders’ equity1,413.0Debt to equity1.50Fiscal year 2018Cash280.0Total debt2,249.0Net cash (debt)−1,969.0Shareholders’ equity1,119.0Debt to equity2.01Fiscal year 2019Cash83.0Total debt2,228.0Net cash (debt)−2,145.0Shareholders’ equity826.0Debt to equity2.70Fiscal year 2020Cash167.0Shareholders’ equity136.0Fiscal year 2021Cash160.0Shareholders’ equity−313.0Fiscal year 2022Cash78.0Shareholders’ equity−882.0Fiscal year 2023Cash108.0Shareholders’ equity−1,657.0Fiscal year 2024Cash87.0Shareholders’ equity−2,089.0Fiscal year 2025Cash71.0Shareholders’ equity−2,237.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 146.0 280.0 83.0 167.0 160.0 78.0 108.0 87.0 71.0
Total debt 2,121.0 2,249.0 2,228.0 n/a n/a n/a n/a n/a n/a
Net cash (debt) −1,975.0 −1,969.0 −2,145.0 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 1,413.0 1,119.0 826.0 136.0 −313.0 −882.0 −1,657.0 −2,089.0 −2,237.0
Debt to equity 1.50 2.01 2.70 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−152.7% −182.7% −127.5% −205.0% −235.4% −96.1% −6,914.3% −1,050.0% −226.3%
−370.7% −182.7% −128.2% −205.0% −235.4% −126.6% 6,814.3% 1,035.7% −221.3%
−150.8% −197.5% −131.4% −138.3% 269.8% −271.4% −2,785.7% n/a n/a
Spending
n/a 56.2% 36.8% 34.4% n/a n/a n/a n/a n/a
0.2% 0.6% 0.0% 0.0% 0.5% 0.0% 0.0% n/a n/a
Returns
−113.6% −26.5% −43.5% −425.0% n/a n/a n/a n/a n/a
−17.6% −3.7% −4.9% −10.1% −9.5% −5.8% 18.3% 20.1% −8.8%
Balance and payout
1.50 2.01 2.70 n/a n/a n/a n/a n/a n/a
84.3% 86.0% 88.5% 97.4% 106.4% 126.0% 163.2% 195.8% 210.8%
n/a n/a n/a n/a n/a n/a 85.7% 0.0% n/a
n/a n/a n/a n/a 0.2% n/a n/a n/a n/a