MGIC Investment (MTG) financial statements
MGIC Investment reported revenue of $1.2B in fiscal 2025, up 1.5% a year over 9 years.
Net income was $738M and the operating margin 76.5%, against 48.4% in 2016.
Free cash flow was $852M, and the company returned $132M in dividends and $789M in net buybacks.
The diluted share count fell 46% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MGIC Investment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B |
| Operating income | $515M | $784M | $844M | $848M | $559M | $802M | $1.1B | $902M | $969M | $929M |
| Interest expense | $57M | $57M | $53M | $53M | $60M | $71M | $48M | $37M | $36M | $36M |
| Pre-tax income | $515M | $784M | $844M | $848M | $559M | $802M | $1.1B | $902M | $969M | $929M |
| Income tax | $172M | $429M | $174M | $174M | $113M | $167M | $225M | $189M | $206M | $190M |
| Net income | $343M | $356M | $670M | $674M | $446M | $635M | $865M | $713M | $763M | $738M |
| EPS (diluted) | $0.86 | $0.95 | $1.78 | $1.85 | $1.29 | $1.85 | $2.79 | $2.49 | $2.89 | $3.14 |
| Diluted shares | 432M | 395M | 386M | 374M | 359M | 351M | 311M | 287M | 264M | 235M |
| Operating margin | 48.4% | 73.6% | 75.1% | 69.9% | 46.6% | 67.6% | 92.9% | 78.1% | 80.2% | 76.5% |
| Net margin | 32.2% | 33.4% | 59.6% | 55.5% | 37.2% | 53.6% | 73.8% | 61.7% | 63.2% | 60.8% |
Balance sheet
Fiscal years, from MGIC Investment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $155M | $100M | $152M | $162M | $288M | $285M | $394M | $364M | $229M | $369M |
| Receivables | $52M | $54M | $55M | $56M | $56M | $57M | $58M | $58M | $58M | $58M |
| Property, plant and equipment | $36M | $45M | $52M | $50M | $47M | $46M | $41M | $39M | $36M | $32M |
| Total assets | $5.7B | $5.6B | $5.7B | $6.2B | $7.4B | $7.3B | $6.2B | $6.5B | $6.5B | $6.6B |
| Total liabilities | $3.2B | $2.5B | $2.1B | $1.9B | $2.7B | $2.5B | $1.6B | $1.5B | $1.4B | $1.5B |
| Shareholders' equity | $2.5B | $3.2B | $3.6B | $4.3B | $4.7B | $4.9B | $4.6B | $5.1B | $5.2B | $5.1B |
| Net debt | -$155M | -$100M | -$152M | -$162M | -$288M | -$285M | -$327M | -$364M | -$229M | -$369M |
Cash flow
Fiscal years, from MGIC Investment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $225M | $407M | $545M | $610M | $732M | $696M | $650M | $713M | $725M | $853M |
| Capital spending | $11M | $16M | $14M | $6M | $3M | $4M | $3M | $2M | $1M | $1M |
| Free cash flow | $214M | $391M | $530M | $604M | $729M | $692M | $647M | $711M | $724M | $852M |
| Stock-based compensation | $11M | $15M | $21M | $19M | $14M | $17M | $25M | $32M | $31M | $24M |
| Dividends paid | — | $0 | $0 | $42M | $82M | $94M | $111M | $123M | $130M | $132M |
| Share buybacks (net) | -$147M | $0 | -$163M | -$126M | -$120M | -$291M | -$386M | -$337M | -$569M | -$789M |
| Net borrowing | $573M | $0 | $0 | $0 | $640M | $0 | $0 | — | — | — |
| Free cash flow margin | 20.2% | 36.6% | 47.2% | 49.7% | 60.8% | 58.4% | 55.1% | 61.5% | 59.9% | 70.2% |
| Dividends per share | — | — | — | $0.11 | $0.23 | $0.27 | $0.36 | $0.43 | $0.49 | $0.56 |
Questions
What was MGIC Investment's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does MGIC Investment generate?
$852M in fiscal 2025 (operating cash flow minus capital spending).
From MGIC Investment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.