Financial Ratios MGIC Investment Corporation

Equities

MTG

US5528481030

Property & Casualty Insurance

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26.33 ^USD	+1.00%		+1.04%	-9.89%

Apr. 30	MGIC Investment Corporation, Q1 2026 Earnings Call, Apr 30, 2026
Apr. 29	MGIC Investment Q1 Adjusted Operating Earnings Rise, Revenue Falls	MT

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Published financial data: MGIC INVESTMENT CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	1.01B	1.01B	953M	971M	966M
Total Interest And Dividend Income	156M	167M	215M	245M	246M
Gain (Loss) on Sale of Investments, Total (Rev)	6.58M	-7.46M	-14.14M	-9.85M	334K
Other Revenues, Total	8.24M	5.64M	1.95M	2.13M	1.23M
Total Revenues	1.19B	1.17B	1.16B	1.21B	1.21B
Policy Benefits	64.58M	-255M	-20.86M	-14.86M	48.9M
Policy Acquisition / Underwriting Costs, Total	194M	224M	205M	29.02M	11.05M
Stock-Based Compensation (IS)	17.1M	24.7M	31.61M	31.32M	24.43M
Salaries And Other Employee Benefits	-	-	-	158M	144M
Other Operating Expenses	-	-	-	-	21.38M
Total Operating Expenses	276M	-5.5M	216M	203M	249M
Operating Income	910M	1.18B	939M	1B	964M
Interest Expense, Total	-71.36M	-48.05M	-36.9M	-35.6M	-35.6M
EBT, Excl. Unusual Items	839M	1.13B	902M	969M	929M
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other Unusual Items	-36.91M	-40.2M	-	-	-
EBT, Incl. Unusual Items	802M	1.09B	902M	969M	929M
Income Tax Expense	167M	225M	189M	206M	190M
Earnings From Continuing Operations	635M	865M	713M	763M	738M
Net Income to Company	635M	865M	713M	763M	738M
Net Income - (IS)	635M	865M	713M	763M	738M
Net Income to Common Incl Extra Items	635M	865M	713M	763M	738M
Net Income to Common Excl. Extra Items	635M	865M	713M	763M	738M
Per Share Items
Net EPS - Basic	1.9	2.83	2.51	2.92	3.17
Basic EPS - Continuing Operations	1.9	2.83	2.51	2.92	3.17
Basic Weighted Average Shares Outstanding	334M	306M	284M	262M	233M
Net EPS - Diluted	1.85	2.79	2.49	2.89	3.14
Diluted EPS - Continuing Operations	1.85	2.79	2.49	2.89	3.14
Diluted Weighted Average Shares Outstanding	351M	311M	287M	264M	235M
Normalized Basic EPS	1.57	2.31	1.99	2.31	2.49
Normalized Diluted EPS	1.49	2.27	1.96	2.29	2.47
Dividend Per Share	0.28	0.36	0.43	0.49	0.56
Payout Ratio	14.84	12.82	17.25	17.1	17.94
Supplemental Items
EBITDA	976M	1.23B	974M	1.02B	971M
EBITA	910M	1.18B	939M	1B	964M
EBIT	910M	1.18B	939M	1B	964M
EBITDAR	977M	1.23B	976M	1.02B	-
Total Revenues (As Reported)	1.19B	1.17B	1.16B	1.21B	1.21B
Effective Tax Rate - (Ratio)	20.8	20.61	20.98	21.24	20.48
Current Domestic Taxes	161M	228M	187M	199M	163M
Total Current Taxes	161M	228M	187M	199M	163M
Deferred Domestic Taxes	4.39M	-5.24M	1.55M	1.8M	19.23M
Total Deferred Taxes	4.39M	-5.24M	1.55M	1.8M	19.23M
Normalized Net Income	524M	706M	564M	605M	580M
Non-Cash Pension Expense	1.88M	13.76M	12.55M	1.05M	7.87M
Supplemental Operating Expense Items
Net Rental Expense, Total	1.3M	1.2M	1.6M	1.7M	-
Imputed Operating Lease Interest Expense	621K	509K	722K	751K	-
Imputed Operating Lease Depreciation	679K	691K	878K	949K	-
Stock-Based Comp., Other (Total)	17.1M	24.7M	31.61M	31.32M	24.43M
Total Stock-Based Compensation	17.1M	24.7M	31.61M	31.32M	24.43M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	6.59B	5.41B	5.72B	5.85B	5.79B
Investment In Equity and Preferred Securities, Total	16.07M	14.14M	14.77M	14.76M	15.32M
Real Estate Owned	1.51M	-	-	-	-
Total investments	6.61B	5.42B	5.74B	5.87B	5.81B
Cash And Equivalents	285M	327M	364M	229M	369M
Reinsurance Recoverable - (IS)	103M	46.32M	43.2M	51.48M	69.44M
Other Receivables - (Insurance Template)	108M	113M	117M	119M	116M
Deferred Policy Acquisition Costs - (BS)	21.67M	19.06M	14.59M	11.69M	8.38M
Gross Property Plant And Equipment	101M	98.52M	97.96M	96.88M	86.25M
Accumulated Depreciation	-55.4M	-57.1M	-59.2M	-61.2M	-53.8M
Net Property Plant And Equipment	45.61M	41.42M	38.76M	35.68M	32.45M
Restricted Cash	20.27M	5.53M	6.98M	5.14M	6.52M
Deferred Tax Assets Long-Term (Collected)	-	125M	79.78M	69.88M	18.51M
Other Long-Term Assets, Total	136M	112M	136M	159M	212M
Total Assets	7.33B	6.21B	6.54B	6.55B	6.64B
Liabilities
Insurance And Annuity Liabilities	921M	583M	526M	475M	486M
Unearned Premiums	242M	195M	158M	120M	93.03M
Current Portion of Leases	771K	908K	1.14M	1.08M	-
Long-Term Debt	1.15B	663M	643M	645M	646M
Long-Term Leases	672K	1.65M	1.4M	737K	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	-	-	400K	400K
Other Non Current Liabilities	153M	127M	136M	132M	266M
Total Liabilities	2.46B	1.57B	1.47B	1.37B	1.49B
Common Stock, Total	371M	371M	371M	248M	219M
Additional Paid In Capital	1.79B	1.8B	1.81B	1.81B	1.81B
Retained Earnings	3.25B	4B	4.59B	3.4B	3.25B
Treasury Stock	-675M	-1.05B	-1.38B	-	-
Comprehensive Income and Other	120M	-482M	-316M	-288M	-134M
Total Common Equity	4.86B	4.64B	5.07B	5.17B	5.15B
Total Equity	4.86B	4.64B	5.07B	5.17B	5.15B
Total Liabilities And Equity	7.33B	6.21B	6.54B	6.55B	6.64B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	316M	290M	270M	243M	215M
ECS Total Common Shares Outstanding	320M	293M	272M	248M	219M
Book Value / Share	15.18	15.82	18.61	20.82	23.47
Tangible Book Value	4.86B	4.64B	5.07B	5.17B	5.15B
Tangible Book Value Per Share	15.18	15.82	18.61	20.82	23.47
Total Debt	1.15B	665M	646M	646M	646M
Net Debt	863M	338M	282M	417M	277M
Debt Equivalent of Unfunded Proj. Benefit Obligation	143K	24.3M	25.72M	2.04M	-4.68M
Debt Equivalent Oper. Leases	10.4M	9.6M	12.8M	13.6M	-
Account Code - Inventory Valuation	3	-	-	3	3
Full Time Employees	711	683	627	555	542

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	635M	865M	713M	763M	738M
Depreciation, Depletion & Amortization	66.01M	54.25M	35.23M	18.44M	6.95M
Total Depreciation, Depletion & Amortization	66.01M	54.25M	35.23M	18.44M	6.95M
(Gain) Loss on Sale of Investments - (CF)	-6.58M	7.46M	14.14M	9.85M	-334K
Deferred Policy Acquisition Costs - (CF)	-110K	2.61M	4.47M	2.9M	3.32M
Stock-Based Compensation (CF)	-	24.77M	31.61M	31.32M	24.43M
Tax Benefit from Stock Options	-	-	-	-	-
Change in Accounts Receivable	-496K	-1.46M	-499K	963K	-648K
Reinsurance Recoverable - (CF)	-7.47M	56.86M	3.12M	-8.28M	-17.96M
Change in Unearned Revenues	-45.41M	-46.4M	-37.51M	-37.42M	-27.33M
Change In Income Taxes	5.43M	-8.55M	-4.14M	16.27M	93.16M
Change in insurance Reserves / Liabilities	2.98M	-326M	-52.61M	-42.72M	12.22M
Change in Other Net Operating Assets (Collected)	4.87M	-15.18M	5.14M	-31.72M	1.42M
Other Operating Activities	42.1M	35.83M	1.06M	2.43M	19.22M
Cash from Operations	696M	650M	713M	725M	853M
Capital Expenditure	-4.12M	-3.25M	-2M	-1.17M	-1.02M
Sale of Property, Plant, and Equipment	-	-	2.34M	-	-
Investment in Marketable and Equity Securities, Total	-157M	414M	-180M	-141M	229M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-161M	410M	-179M	-142M	228M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-98.61M	-486M	-28.64M	-	-
Total Debt Repaid	-98.61M	-486M	-28.64M	-	-
Repurchase of Common Stock	-298M	-396M	-344M	-589M	-808M
Common Dividends Paid	-94.22M	-111M	-123M	-130M	-132M
Common & Preferred Stock Dividends Paid	-94.22M	-111M	-123M	-130M	-132M
Other Financing Activities, Total	-36.91M	-39.51M	-	-	-
Cash from Financing	-527M	-1.03B	-496M	-719M	-940M
Net Change in Cash	8.28M	27.96M	37.73M	-136M	141M
Supplemental Items
Cash Interest Paid	71.7M	53.7M	35.1M	34.1M	34.1M
Cash Income Tax Paid (Refund)	155M	236M	188M	182M	77.8M
Net Debt Issued / Repaid	-98.61M	-486M	-28.64M	-	-
Levered Free Cash Flow	536M	803M	589M	612M	566M
Unlevered Free Cash Flow	581M	833M	612M	634M	589M
Change In Net Working Capital	66.82M	-20.46M	39.93M	42.39M	44.27M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.75	10.88	9.21	9.59	9.14
Return on Total Capital	9.52	13.02	10.65	10.88	10.38
Return On Equity %	13.28	18.21	14.68	14.9	14.31
Return on Common Equity	13.28	18.21	14.68	14.9	14.31
Margin Analysis
Gross Profit Margin %	78.2	102.58	84.04	98.83	95.06
SG&A Margin	-	-	-	13.08	11.84
EBITDA Margin %	82.32	105.1	84.35	84.68	80.01
EBITA Margin %	76.75	100.47	81.3	83.16	79.44
EBIT Margin %	76.75	100.47	81.3	83.16	79.44
Income From Continuing Operations Margin %	53.55	73.79	61.72	63.18	60.84
Net Income Margin %	53.55	73.79	61.72	63.18	60.84
Net Avail. For Common Margin %	53.55	73.79	61.72	63.18	60.84
Normalized Net Income Margin	44.21	60.23	48.82	50.13	47.82
Levered Free Cash Flow Margin	45.24	68.43	50.97	50.64	46.67
Unlevered Free Cash Flow Margin	49	70.99	52.97	52.49	48.5
Asset Turnover
Asset Turnover	0.16	0.17	0.18	0.18	0.18
Fixed Assets Turnover	25.56	26.95	28.81	32.45	35.63
Receivables Turnover (Average Receivables)	20.8	20.51	20.04	20.95	20.95
Short Term Liquidity
Current Ratio	2.13	2.51	3.34	3.32	6.01
Quick Ratio	1.41	1.96	2.66	2.36	4.57
Operating Cash Flow to Current Liabilities	2.87	3.31	4.49	5.95	9.13
Days Sales Outstanding (Average Receivables)	17.55	17.8	18.21	17.47	17.42
Long Term Solvency
Total Debt/Equity	23.62	14.33	12.73	12.5	12.55
Total Debt / Total Capital	19.11	12.53	11.29	11.11	11.15
LT Debt/Equity	23.6	14.31	12.71	12.48	12.55
Long-Term Debt / Total Capital	19.09	12.52	11.27	11.09	11.15
Total Liabilities / Total Assets	33.63	25.28	22.43	21	22.47
EBIT / Interest Expense	12.75	24.52	25.45	28.21	27.08
EBITDA / Interest Expense	13.7	25.67	26.45	28.77	27.28
(EBITDA - Capex) / Interest Expense	13.64	25.61	26.39	28.74	27.25
Total Debt / EBITDA	1.17	0.54	0.66	0.63	0.67
Net Debt / EBITDA	0.88	0.27	0.29	0.41	0.29
Total Debt / (EBITDA - Capex)	1.18	0.54	0.66	0.63	0.67
Net Debt / (EBITDA - Capex)	0.89	0.27	0.29	0.41	0.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.12	-1.09	-1.51	4.56	0.49
Gross Profit, 1 Yr. Growth %	40.61	29.75	-19.31	4.02	-5.06
EBITDA, 1 Yr. Growth %	38.76	26.28	-20.95	4.97	-5.05
EBITA, 1 Yr. Growth %	40.96	29.47	-20.3	6.94	-4
EBIT, 1 Yr. Growth %	40.96	29.47	-20.3	6.94	-4
Earnings From Cont. Operations, 1 Yr. Growth %	42.34	36.28	-17.61	7.02	-3.23
Net Income, 1 Yr. Growth %	42.34	36.28	-17.61	7.02	-3.23
Normalized Net Income, 1 Yr. Growth %	43.12	34.76	-20.17	7.37	-4.15
Diluted EPS Before Extra, 1 Yr. Growth %	43.4	50.99	-10.91	16.23	8.65
Net Property, Plant and Equip., 1 Yr. Growth %	-3.25	-9.2	-6.43	-7.94	-9.04
Accounts Receivable, 1 Yr. Growth %	0.88	2.58	0.86	-1.65	1.13
Total Assets, 1 Yr. Growth %	-0.4	-15.17	5.22	0.14	1.41
Common Equity, 1 Yr. Growth %	3.46	-4.5	9.25	1.98	-0.48
Tangible Book Value, 1 Yr. Growth %	3.46	-4.5	9.25	1.98	-0.48
Cash From Operations, 1 Yr. Growth %	-4.91	-6.65	9.68	1.69	17.62
Capital Expenditures, 1 Yr. Growth %	24.28	-20.92	-38.57	-41.27	-12.69
Levered Free Cash Flow, 1 Yr. Growth %	101.24	49.63	-26.64	4.3	-7.39
Unlevered Free Cash Flow, 1 Yr. Growth %	91.24	43.31	-26.52	4.01	-7.13
Dividend Per Share, 1 Yr. Growth %	16.67	28.57	19.44	13.95	14.29
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.17	-1.11	-1.3	1.48	2.5
Gross Profit, 2 Yr. CAGR %	0.41	35.07	2.32	-6.8	-0.66
EBITDA, 2 Yr. CAGR %	1.39	32.37	-0.09	-8.91	-0.17
EBITA, 2 Yr. CAGR %	0.52	35.1	1.59	-7.68	1.32
EBIT, 2 Yr. CAGR %	0.52	35.1	1.59	-7.68	1.32
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.92	39.28	5.96	-6.1	1.77
Net Income, 2 Yr. CAGR %	-2.92	39.28	5.96	-6.1	1.77
Normalized Net Income, 2 Yr. CAGR %	-0.55	38.88	3.72	-7.42	1.45
Diluted EPS Before Extra, 2 Yr. CAGR %	-0.07	47.15	15.98	1.76	12.38
Net Property, Plant and Equip., 2 Yr. CAGR %	-4.6	-6.27	-7.82	-7.19	-8.49
Accounts Receivable, 2 Yr. CAGR %	0.85	1.73	1.72	-0.4	-0.27
Total Assets, 2 Yr. CAGR %	8.44	-8.08	-5.52	2.65	0.77
Common Equity, 2 Yr. CAGR %	6.21	-0.6	2.14	5.55	0.74
Tangible Book Value, 2 Yr. CAGR %	6.21	-0.6	2.14	5.55	0.74
Cash From Operations, 2 Yr. CAGR %	6.88	-5.79	1.19	5.61	9.37
Capital Expenditures, 2 Yr. CAGR %	-14.55	-0.86	-30.3	-39.93	-28.39
Levered Free Cash Flow, 2 Yr. CAGR %	-2.93	73.53	4.77	-12.7	-1.72
Unlevered Free Cash Flow, 2 Yr. CAGR %	-1.77	65.55	2.62	-12.75	-1.72
Dividend Per Share, 2 Yr. CAGR %	52.75	22.47	23.92	16.67	14.12
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.8	-1.14	-1.24	0.62	1.15
Gross Profit, 3 Yr. CAGR %	0.33	9.37	13.76	8.78	-5.66
EBITDA, 3 Yr. CAGR %	0.72	9.09	11.47	1.57	-7.64
EBITA, 3 Yr. CAGR %	0.48	9.37	13.31	3.34	-6.47
EBIT, 3 Yr. CAGR %	0.48	9.37	13.31	3.34	-6.47
Earnings From Cont. Operations, 3 Yr. CAGR %	-1.78	8.7	16.92	6.31	-5.15
Net Income, 3 Yr. CAGR %	-1.78	8.7	16.92	6.31	-5.15
Normalized Net Income, 3 Yr. CAGR %	-0.22	10.05	15.47	4.92	-6.34
Diluted EPS Before Extra, 3 Yr. CAGR %	1.21	14.67	24.48	16.07	4.01
Net Property, Plant and Equip., 3 Yr. CAGR %	-4.11	-6.16	-6.32	-7.86	-7.81
Accounts Receivable, 3 Yr. CAGR %	0.87	1.43	1.44	0.58	0.11
Total Assets, 3 Yr. CAGR %	8.86	-0.08	-3.84	-3.67	2.23
Common Equity, 3 Yr. CAGR %	10.72	2.52	2.58	2.09	3.5
Tangible Book Value, 3 Yr. CAGR %	10.72	2.52	2.58	2.09	3.5
Cash From Operations, 3 Yr. CAGR %	8.54	2.17	-0.89	1.36	9.47
Capital Expenditures, 3 Yr. CAGR %	-33.88	-16.73	-15.48	-34.17	-31.96
Levered Free Cash Flow, 3 Yr. CAGR %	-4.69	12.13	30.24	4.47	-10.97
Unlevered Free Cash Flow, 3 Yr. CAGR %	-3.8	11.41	26.29	2.95	-10.92
Dividend Per Share, 3 Yr. CAGR %	-	44.22	21.46	20.51	15.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.3	1.93	0.55	-0.1	0.24
Gross Profit, 5 Yr. CAGR %	6.73	7.03	1.12	5.36	11.84
EBITDA, 5 Yr. CAGR %	6.3	6.35	0.39	1.5	6.66
EBITA, 5 Yr. CAGR %	6.7	6.96	0.92	2.2	8.35
EBIT, 5 Yr. CAGR %	6.7	6.96	0.92	2.2	8.35
Earnings From Cont. Operations, 5 Yr. CAGR %	13.14	19.46	1.25	2.52	10.6
Net Income, 5 Yr. CAGR %	13.14	19.46	1.25	2.52	10.6
Normalized Net Income, 5 Yr. CAGR %	6.88	7.57	1.34	2.7	9.64
Diluted EPS Before Extra, 5 Yr. CAGR %	16.57	24.16	6.88	9.32	19.49
Net Property, Plant and Equip., 5 Yr. CAGR %	4.8	-1.62	-5.61	-6.57	-7.2
Accounts Receivable, 5 Yr. CAGR %	1.54	1.42	1.21	0.69	0.75
Total Assets, 5 Yr. CAGR %	5.02	2.03	2.86	1	-2.02
Common Equity, 5 Yr. CAGR %	13.78	8.04	7.2	3.72	1.84
Tangible Book Value, 5 Yr. CAGR %	13.78	8.04	7.2	3.72	1.84
Cash From Operations, 5 Yr. CAGR %	25.38	9.83	5.54	3.53	3.09
Capital Expenditures, 5 Yr. CAGR %	-17.17	-27.34	-32.47	-26.93	-20.9
Levered Free Cash Flow, 5 Yr. CAGR %	2.58	5.42	-1.01	1.45	16.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	2.73	5.01	-1.28	1.03	14.15
Dividend Per Share, 5 Yr. CAGR %	-	-	-	32.5	18.47