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Stocks · Financials · Surety Insurance

MGIC INVESTMENT CORP

MTG Clue Score71
United States Fiscal year ends December CIK 0000876437
$27.43 -1.58% Close, 9 Oct 2026
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Price $27.43 +73.17% 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 2016Revenue1,062.5Net income342.5EPS, diluted0.86Fiscal year 2017Revenue1,066.1 +0.3%Net income355.8 +3.9%EPS, diluted0.95 +10.5%Fiscal year 2018Revenue1,123.8 +5.4%Net income670.1 +88.4%EPS, diluted1.78 +87.4%Fiscal year 2019Revenue1,214.0 +8.0%Net income673.8 +0.5%EPS, diluted1.85 +3.9%Fiscal year 2020Revenue1,199.1 −1.2%Net income446.1 −33.8%EPS, diluted1.29 −30.3%Fiscal year 2021Revenue1,185.7 −1.1%Net income635.0 +42.3%EPS, diluted1.85 +43.4%Fiscal year 2022Revenue1,172.8 −1.1%Net income865.3 +36.3%EPS, diluted2.79 +50.8%Fiscal year 2023Revenue1,155.1 −1.5%Net income712.9 −17.6%EPS, diluted2.49 −10.8%Fiscal year 2024Revenue1,207.7 +4.6%Net income763.0 +7.0%EPS, diluted2.89 +16.1%Fiscal year 2025Revenue1,213.6 +0.5%Net income738.3 −3.2%EPS, diluted3.14 +8.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,062.5 1,066.1 1,123.8 1,214.0 1,199.1 1,185.7 1,172.8 1,155.1 1,207.7 1,213.6
Growth +0.3% +5.4% +8.0% −1.2% −1.1% −1.1% −1.5% +4.6% +0.5%
Net income 342.5 355.8 670.1 673.8 446.1 635.0 865.3 712.9 763.0 738.3
Growth +3.9% +88.4% +0.5% −33.8% +42.3% +36.3% −17.6% +7.0% −3.2%
EPS, diluted 0.86 0.95 1.78 1.85 1.29 1.85 2.79 2.49 2.89 3.14
Growth +10.5% +87.4% +3.9% −30.3% +43.4% +50.8% −10.8% +16.1% +8.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin32.2%Free cash flow margin20.2%Fiscal year 2017Net margin33.4%Free cash flow margin36.6%Fiscal year 2018Net margin59.6%Free cash flow margin47.2%Fiscal year 2019Net margin55.5%Free cash flow margin49.7%Fiscal year 2020Net margin37.2%Free cash flow margin60.8%Fiscal year 2021Net margin53.6%Free cash flow margin58.4%Fiscal year 2022Net margin73.8%Free cash flow margin55.1%Fiscal year 2023Net margin61.7%Free cash flow margin61.5%Fiscal year 2024Net margin63.2%Free cash flow margin59.9%Fiscal year 2025Net margin60.8%Free cash flow margin70.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 32.2% 33.4% 59.6% 55.5% 37.2% 53.6% 73.8% 61.7% 63.2% 60.8%
Free cash flow margin 20.2% 36.6% 47.2% 49.7% 60.8% 58.4% 55.1% 61.5% 59.9% 70.2%

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 2016Operating cash flow224.8Capital expenditure−10.6Free cash flow214.2Buybacks−147.1Fiscal year 2017Operating cash flow406.7Capital expenditure−16.1Free cash flow390.6 +82.3%Buybacks0.0Dividends paid0.0Fiscal year 2018Operating cash flow544.5Capital expenditure−14.2Free cash flow530.3 +35.8%Buybacks−163.4Dividends paid0.0Fiscal year 2019Operating cash flow609.5Capital expenditure−5.6Free cash flow603.9 +13.9%Buybacks−125.8Dividends paid−41.9Fiscal year 2020Operating cash flow732.3Capital expenditure−3.3Free cash flow729.0 +20.7%Buybacks−120.0Dividends paid−82.1Fiscal year 2021Operating cash flow696.3Capital expenditure−4.1Free cash flow692.2 −5.0%Buybacks−290.8Dividends paid−94.2Fiscal year 2022Operating cash flow650.0Capital expenditure−3.3Free cash flow646.8 −6.6%Buybacks−385.6Dividends paid−110.9Fiscal year 2023Operating cash flow713.0Capital expenditure−2.0Free cash flow711.0 +9.9%Buybacks−337.2Dividends paid−123.0Fiscal year 2024Operating cash flow725.0Capital expenditure−1.2Free cash flow723.9 +1.8%Buybacks−569.5Dividends paid−130.5Fiscal year 2025Operating cash flow852.8Capital expenditure−1.0Free cash flow851.8 +17.7%Buybacks−788.6Dividends paid−132.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 224.8 406.7 544.5 609.5 732.3 696.3 650.0 713.0 725.0 852.8
Capital expenditure −10.6 −16.1 −14.2 −5.6 −3.3 −4.1 −3.3 −2.0 −1.2 −1.0
Free cash flow 214.2 390.6 530.3 603.9 729.0 692.2 646.8 711.0 723.9 851.8
Growth +82.3% +35.8% +13.9% +20.7% −5.0% −6.6% +9.9% +1.8% +17.7%
Buybacks −147.1 0.0 −163.4 −125.8 −120.0 −290.8 −385.6 −337.2 −569.5 −788.6
Dividends paid n/a 0.0 0.0 −41.9 −82.1 −94.2 −110.9 −123.0 −130.5 −132.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash155.4Total debt1,178.7Net cash (debt)−1,023.3Shareholders’ equity2,548.8Debt to equity0.46Fiscal year 2017Cash99.9Total debt830.4Net cash (debt)−730.5Shareholders’ equity3,154.5Debt to equity0.26Fiscal year 2018Cash151.9Total debt831.6Net cash (debt)−679.7Shareholders’ equity3,581.9Debt to equity0.23Fiscal year 2019Cash161.8Total debt832.8Net cash (debt)−671.0Shareholders’ equity4,309.2Debt to equity0.19Fiscal year 2020Cash288.0Total debt1,243.2Net cash (debt)−955.2Shareholders’ equity4,699.0Debt to equity0.26Fiscal year 2021Cash284.7Total debt1,146.7Net cash (debt)−862.0Shareholders’ equity4,861.4Debt to equity0.24Fiscal year 2022Cash327.4Total debt662.8Net cash (debt)−335.4Shareholders’ equity4,642.7Debt to equity0.14Fiscal year 2023Cash363.7Total debt643.2Net cash (debt)−279.5Shareholders’ equity5,072.0Debt to equity0.13Fiscal year 2024Cash229.5Shareholders’ equity5,172.4Fiscal year 2025Cash369.0Shareholders’ equity5,147.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 155.4 99.9 151.9 161.8 288.0 284.7 327.4 363.7 229.5 369.0
Total debt 1,178.7 830.4 831.6 832.8 1,243.2 1,146.7 662.8 643.2 n/a n/a
Net cash (debt) −1,023.3 −730.5 −679.7 −671.0 −955.2 −862.0 −335.4 −279.5 n/a n/a
Shareholders’ equity 2,548.8 3,154.5 3,581.9 4,309.2 4,699.0 4,861.4 4,642.7 5,072.0 5,172.4 5,147.6
Debt to equity 0.46 0.26 0.23 0.19 0.26 0.24 0.14 0.13 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

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 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
Revenue and profit
1,062.5 1,066.1 1,123.8 1,214.0 1,199.1 1,185.7 1,172.8 1,155.1 1,207.7 1,213.6
Growth +0.3% +5.4% +8.0% −1.2% −1.1% −1.1% −1.5% +4.6% +0.5%
514.7 784.5 844.2 848.0 559.3 801.8 1,090.0 902.2 968.7 928.5
172.2 428.7 174.1 174.2 113.2 166.8 224.7 189.3 205.7 190.2
342.5 355.8 670.1 673.8 446.1 635.0 865.3 712.9 763.0 738.3
Growth +3.9% +88.4% +0.5% −33.8% +42.3% +36.3% −17.6% +7.0% −3.2%
Per share
1.00 0.98 1.83 1.91 1.31 1.90 2.83 2.51 2.92 3.17
0.86 0.95 1.78 1.85 1.29 1.85 2.79 2.49 2.89 3.14
Growth +10.5% +87.4% +3.9% −30.3% +43.4% +50.8% −10.8% +16.1% +8.7%
342.9 362.4 365.4 352.8 340.0 334.3 305.8 283.6 261.7 233.0
432.0 394.8 386.1 373.9 359.3 351.3 311.2 287.2 264.0 235.1
Growth −8.6% −2.2% −3.1% −3.9% −2.2% −11.4% −7.7% −8.1% −10.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 0.2% a year over five years, and earnings per share grew 19.5% a year.
  • The diluted share count fell 34.6% in five years, so buybacks did some of the work per share.
  • Profitable in every one of the 10 years on file.