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MTG logoMGIC Investment Corporation(MTG)Earnings, Financials & Key Ratios

MTG•NYSE•Insurance & Managed Care
$26.24
$5.55B mkt cap·8.4× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustrySpecialty InsuranceSub-IndustryMortgage and Title Insurance
AboutMGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure. It also provides contract underwriting services, as well as reinsurance. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. MGIC Investment Corporation was founded in 1957 and is headquartered in Milwaukee, Wisconsin.Show more
  • Revenue$1.21B+0.5%
  • Combined Ratio23.49%+18.7%
  • Net Income$738M-3.2%
  • Return on Equity14.31%-3.9%
  • Medical Cost Ratio5.1%+1143.5%
  • Operating Margin76.51%-4.6%
  • Net Margin60.84%-3.7%
  • ROA11.2%-4.0%
  • Equity / Assets77.53%-1.9%
  • Book Value per Share22.80+16.4%
  • Tangible BV/Share22.77+16.5%
  • Debt/Equity0.13+0.7%
Technical→

MTG Key Insights

MGIC Investment Corporation (MTG) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 23.5% combined ratio
  • ✓Low loss ratio of 5.1%
  • ✓Healthy dividend yield of 2.2%
  • ✓Share count reduced 14.5% through buybacks
  • ✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MTG Price & Volume

MGIC Investment Corporation (MTG) stock price & volume — 10-year historical chart

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MTG Growth Metrics

MGIC Investment Corporation (MTG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.54%
5 Years0.24%
3 Years1.15%
TTM-1.24%

Profit CAGR

10 Years-4.52%
5 Years10.6%
3 Years-5.15%
TTM-7.25%

EPS CAGR

10 Years1.91%
5 Years19.47%
3 Years4.02%
TTM4.65%

Return on Capital

10 Years15.52%
5 Years15.59%
3 Years15.46%
Last Year14.08%

MTG Recent Earnings

MGIC Investment Corporation (MTG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
Apr 29, 2026
EPS
$0.76
Est $0.73
+4.1%
Revenue
$297M
Est $303M
-2.0%
Q1 2026
Feb 2, 2026
EPS
$0.75
Est $0.73
+2.7%
Revenue
$299M
Est $308M
-3.1%
Q4 2025
Oct 29, 2025
EPS
$0.83
Est $0.72
+15.3%
Revenue
$305M
Est $308M
-1.2%
Q3 2025
Jul 30, 2025
EPS
$0.82
Est $0.70
+17.1%
Revenue
$304M
Est $308M
-1.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$0.76vs $0.73+4.1%
$297Mvs $303M-2.0%
Q1 2026Feb 2, 2026
$0.75vs $0.73+2.7%
$299Mvs $308M-3.1%
Q4 2025Oct 29, 2025
$0.83vs $0.72+15.3%
$305Mvs $308M-1.2%
Q3 2025Jul 30, 2025
$0.82vs $0.70+17.1%
$304Mvs $308M-1.3%
Based on last 12 quarters of dataView full earnings history →

MTG Peer Comparison

MGIC Investment Corporation (MTG) competitors in Mortgage and Title Insurance — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
RDN logoRDNRadian Group Inc.Direct Competitor4.82B35.589.084.04%45.61%12.38%0.51
ESNT logoESNTEssent Group Ltd.Direct Competitor5.87B60.178.7812.03%53.73%12.25%14.57%0.09
NMIH logoNMIHNMI Holdings, Inc.Direct Competitor2.87B37.667.658.39%55.07%15.8%14.38%0.16
ACT logoACTEnact Holdings, Inc.Direct Competitor5.97B42.319.362.37%54.62%12.83%12.13%0.14
PFSI logoPFSIPennyMac Financial Services, Inc.Direct Competitor4.56B87.489.41173.81%11.48%12.02%5.35
RNR logoRNRRenaissanceRe Holdings Ltd.Product Competitor13.03B302.045.339.45%26.93%16.59%28.33%0.12
AGO logoAGOAssured Guaranty Ltd.Product Competitor3.82B81.8611.92-19.8%42.14%7.01%1.23%0.31
MBI logoMBIMBIA Inc.Product Competitor297.91M5.90-1.6790.48%-195.51%12.76%

Compare MTG vs Peers

MGIC Investment Corporation (MTG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs RDN

Most directly comparable listed peer for MTG.

Scale Benchmark

vs HIG

Larger-name benchmark to compare MTG against a more recognizable public peer.

Peer Set

Compare Top 5

vs RDN, ESNT, NMIH, ACT

MTG Income Statement

MGIC Investment Corporation (MTG) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue1.07B1.12B1.21B1.2B1.19B1.17B1.16B1.21B1.21B1.2B
Revenue Growth %0.34%5.42%8.02%-1.22%-1.12%-1.09%-1.51%4.56%0.49%-1.24%
Medical Costs & Claims64.82M48.49M130.58M377.15M77.18M-242.2M-10.04M-5.9M61.91M77.35M
Medical Cost Ratio %6.08%4.31%10.76%31.45%6.51%-20.65%-0.87%-0.49%5.1%6.42%
Gross Profit
1B▲ 0%
1.08B▲ 7.4%
1.08B▲ 0.7%
821.99M▼ 24.1%
1.11B▲ 34.9%
1.41B▲ 27.6%
1.17B▼ 17.7%
1.21B▲ 4.2%
1.15B▼ 5.1%
1.13B▲ 0%
Gross Margin %93.92%95.69%89.24%68.55%93.49%120.65%100.87%100.49%94.9%93.58%
Gross Profit Growth %23.2%7.4%0.75%-24.13%34.85%27.65%-17.66%4.16%-5.1%-
Operating Expenses216.74M231.2M235.42M262.73M306.72M324.95M262.91M244.93M223.24M218.77M
OpEx / Revenue %20.33%20.57%19.39%21.91%25.87%27.71%22.76%20.28%18.39%18.16%
Depreciation & Amortization64.43M58.22M48.78M57.81M66.01M54.25M35.23M18.44M6.95M4.25M
Combined Ratio %26.41%24.89%30.15%53.36%32.38%7.06%21.89%19.79%23.49%24.58%
Operating Income
784.5M▲ 0%
844.15M▲ 7.6%
847.98M▲ 0.5%
559.26M▼ 34.0%
801.78M▲ 43.4%
1.09B▲ 36.0%
902.23M▼ 17.2%
968.71M▲ 7.4%
928.54M▼ 4.1%
908.36M▲ 0%
Operating Margin %73.59%75.11%69.85%46.64%67.62%92.94%78.11%80.21%76.51%75.42%
Operating Income Growth %52.41%7.6%0.45%-34.05%43.36%35.95%-17.23%7.37%-4.15%-
EBITDA848.93M902.37M896.76M617.08M867.79M1.14B937.46M987.14M935.49M912.61M
EBITDA Margin %79.63%80.29%73.87%51.46%73.19%97.57%81.16%81.74%77.08%75.77%
Interest Expense57.03M52.99M52.66M59.59M71.36M48.05M36.91M35.6M34.5M34.5M
Non-Operating Income-57.03M-52.99M-52.66M-59.59M-71.36M-48.05M-36.91M-35.6M-35.6M-26.7M
Pretax Income
784.5M▲ 0%
844.15M▲ 7.6%
847.98M▲ 0.5%
559.26M▼ 34.0%
801.78M▲ 43.4%
1.09B▲ 36.0%
902.23M▼ 17.2%
968.71M▲ 7.4%
928.54M▼ 4.1%
900.68M▲ 0%
Pretax Margin %73.59%75.11%69.85%46.64%67.62%92.94%78.11%80.21%76.51%74.78%
Income Tax428.74M174.05M174.21M113.17M166.79M224.69M189.28M205.72M190.19M182.49M
Effective Tax Rate %54.65%20.62%20.54%20.24%20.8%20.61%20.98%21.24%20.48%20.26%
Net Income
355.76M▲ 0%
670.1M▲ 88.4%
673.76M▲ 0.5%
446.09M▼ 33.8%
634.98M▲ 42.3%
865.35M▲ 36.3%
712.95M▼ 17.6%
762.99M▲ 7.0%
738.35M▼ 3.2%
718.19M▲ 0%
Net Margin %33.37%59.63%55.5%37.2%53.55%73.79%61.72%63.18%60.84%59.63%
Net Income Growth %3.87%88.36%0.55%-33.79%42.34%36.28%-17.61%7.02%-3.23%-7.25%
EPS (Diluted)
0.95▲ 0%
1.74▲ 83.2%
1.85▲ 6.3%
1.29▼ 30.3%
1.85▲ 43.4%
2.79▲ 50.8%
2.49▼ 10.8%
2.89▲ 16.1%
3.14▲ 8.7%
3.29▲ 0%
EPS Growth %10.47%83.16%6.32%-30.27%43.41%50.81%-10.75%16.06%8.65%4.65%
EPS (Basic)0.981.781.911.311.902.832.522.923.17-
Diluted Shares Outstanding394.77M386.08M373.92M359.29M351.31M311.23M287.15M264M225.73M218.19M

MTG Balance Sheet

MGIC Investment Corporation (MTG) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets5.62B5.68B6.23B7.35B7.33B6.21B6.54B6.55B6.64B6.42B
Asset Growth %-2.01%1.04%9.72%18.06%-0.4%-15.17%5.22%0.14%1.41%-0.9%
Total Investment Assets4.99B5.16B5.76B6.68B6.61B5.42B5.74B5.87B5.81B4M
Long-Term Investments4.99B5.16B5.76B6.68B19.17M14.99M15.62M15.87M5.81B5.86B
Short-Term Investments005.74B6.66B6.59B5.41B5.72B5.85B05.7B
Total Current Assets5.14B5.37B007.1B5.9B6.25B6.26B06.16B
Cash & Equivalents99.85M151.89M161.85M287.95M284.69M327.38M363.67M229.49M375.51M235.09M
Receivables106.39M91.37M78.75M151.75M211.62M159.5M160.47M170.08M58.18M605.96M
Other Current Assets741.65M741.05M-5.98B-7.1B20.27M5.53M6.98M5.14M-433.7M14.4M
Goodwill & Intangibles-192.57M-186.56M0021.67M19.06M14.59M11.69M8.38M36M
Goodwill-211.41M-204.45M00000000
Intangible Assets18.84M17.89M0021.67M19.06M14.59M11.69M8.38M7.96M
PP&E (Net)44.94M51.73M50.12M47.14M45.61M41.42M38.76M35.68M32.45M31.95M
Other Assets-4.55B-4.9B-5.81B-6.73B134.39M111.44M135.4M157.72M790.99M189.96M
Total Liabilities2.46B2.1B1.92B2.66B2.46B1.57B1.47B1.37B1.49B1.38B
Total Debt830.43M831.59M832.74M1.24B1.15B662.81M643.2M644.67M646.14M646.51M
Net Debt730.58M679.69M670.89M955.24M862.02M335.43M279.53M415.18M270.62M411.42M
Long-Term Debt830.43M831.59M832.74M1.24B1.15B662.81M643.2M644.67M646.14M646.51M
Short-Term Debt0000000000
Total Current Liabilities1.63B1.26B001.13B753.28M663.16M583.02M0591.73M
Accounts Payable0000000000
Deferred Revenue0000241.69M195.29M157.78M120.36M93.03M92.61M
Other Current Liabilities0000883.52M557.99M505.38M462.66M-93.03M499.12M
Deferred Taxes1000K1000K00000000
Other Liabilities00-832.74M-1.24B191.7M154.97M160.01M147.17M845.8M141.23M
Total Equity
3.15B▲ 0%
3.58B▲ 13.5%
4.31B▲ 20.3%
4.7B▲ 9.0%
4.86B▲ 3.5%
4.64B▼ 4.5%
5.07B▲ 9.2%
5.17B▲ 2.0%
5.15B▼ 0.5%
5.04B▲ 0%
Equity Growth %23.76%13.55%20.31%9.04%3.46%-4.5%9.25%1.98%-0.48%-4.03%
Shareholders Equity3.15B3.58B4.31B4.7B4.86B4.64B5.07B5.17B5.15B5.04B
Minority Interest0000000000
Retained Earnings977.16M1.65B2.28B2.64B3.25B4B4.59B3.4B3.25B3.2B
Common Stock370.57M371.35M371.35M371.35M371.35M371.35M371.35M248.45M219.37M213.2M
Accumulated OCI-43.78M-124.21M72.71M216.82M119.7M-481.51M-316.28M-288.16M-134.39M-167.48M
Return on Equity (ROE)12.48%19.89%17.08%9.9%13.28%18.21%14.68%14.9%14.31%14%
Return on Assets (ROA)6.27%11.86%11.32%6.57%8.65%12.78%11.18%11.66%11.2%10.95%
Equity / Assets56.14%63.09%69.17%63.89%66.37%74.72%77.57%79%77.53%78.5%
Debt / Equity0.26x0.23x0.19x0.26x0.24x0.14x0.13x0.12x0.13x0.13x
Book Value per Share7.999.2811.5213.0813.8414.9217.6619.5922.8023.09
Tangible BV per Share8.489.7611.5213.0813.7814.8617.6119.5522.7723.05

MTG Cash Flow Statement

MGIC Investment Corporation (MTG) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations406.66M544.52M609.53M732.31M696.32M650.01M712.96M725.03M852.8M852.8M
Operating CF Growth %85.13%33.9%11.94%20.14%-4.91%-6.65%9.68%1.69%17.62%-13.18%
Operating CF / Revenue %38.15%48.45%50.21%61.07%58.73%55.42%61.72%60.03%70.27%70.8%
Net Income355.76M670.1M673.76M446.09M634.98M865.35M712.95M762.99M738.35M718.19M
Depreciation & Amortization64.43M58.22M48.78M57.81M66.01M54.25M35.23M18.44M03.35M
Stock-Based Compensation14.9M20.9M013.8M17.11M24.77M31.61M31.32M017.12M
Deferred Taxes355.04M186.57M11.1M27.48M5.19M-4.37M1.06M2.43M014.71M
Other Non-Cash Items6.64M9.48M-5.31M14.16M31.05M47.66M14.14M9.85M50.27M44.65M
Working Capital Changes-368.39M-371.72M-118.81M172.97M-58.03M-337.65M-82.03M-100M64.18M-91.97M
Cash from Investing-303.64M-317.78M-422.11M-772.51M-160.75M410.49M-179.19M-142M228.37M242.78M
Capital Expenditures-16.07M-14.24M-5.64M-3.31M-4.12M-3.25M-2M-1.17M-1.02M-1.08M
Acquisitions287.57M-785.48M000-688.48M0000
Purchase of Investments-1.29B-1.46B-1.39B-2.64B-1.53B-674.41M-1.47B-1.56B-1.62B-1.6B
Sale/Maturity of Investments1.01B1.16B977.96M1.87B1.37B1.09B1.29B45.09M110.93M537.31M
Other Investing-287.57M785.48M000688.48M01.37B1.74B1.3B
Cash from Financing-158.57M-171.55M-173.41M167.82M-527.29M-1.03B-496.04M-719.04M-940.28M-912.03M
Dividends Paid00-41.91M-82.06M-94.22M-110.95M-122.97M-130.5M-132.49M-133.76M
Share Repurchases-6.82M-163.42M-125.77M-120M-290.82M-385.57M-337.18M-569.48M-788.64M-755.84M
Stock Issued0000000000
Debt Issuance (Net)-1000K001000K-1000K-1000K-1000K000
Other Financing0-8.13M-5.73M-54.24M-43.64M-49.61M-7.26M-19.07M-19.15M-22.44M
Net Change in Cash
-55.56M▲ 0%
55.19M▲ 199.3%
14.02M▼ 74.6%
127.62M▲ 810.4%
8.28M▼ 93.5%
27.95M▲ 237.7%
37.73M▲ 35.0%
-136.02M▼ 460.5%
140.89M▲ 203.6%
36.8M▲ 0%
Exchange Rate Effect0000000000
Cash at Beginning155.41M99.85M155.04M169.06M296.68M304.96M332.91M370.64M234.63M375.51M
Cash at End99.85M155.04M169.06M296.68M304.96M332.91M370.64M234.63M375.51M249.5M
Free Cash Flow
390.59M▲ 0%
530.28M▲ 35.8%
603.9M▲ 13.9%
729M▲ 20.7%
692.2M▼ 5.0%
646.76M▼ 6.6%
710.96M▲ 9.9%
723.86M▲ 1.8%
851.77M▲ 17.7%
704.96M▲ 0%
FCF Growth %86.79%35.76%13.88%20.72%-5.05%-6.57%9.93%1.81%17.67%-6.86%
FCF Margin %36.64%47.18%49.75%60.79%58.38%55.15%61.55%59.94%70.18%58.53%
FCF per Share0.991.371.622.031.972.082.482.743.773.77

MTG Key Ratios

MGIC Investment Corporation (MTG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio26.41%24.89%30.15%53.36%32.38%7.06%21.89%19.79%23.49%24.58%
Medical Cost Ratio6.08%4.31%10.76%31.45%6.51%-20.65%-0.87%-0.49%5.1%6.42%
Return on Equity (ROE)12.48%19.89%17.08%9.9%13.28%18.21%14.68%14.9%14.31%14%
Return on Assets (ROA)6.27%11.86%11.32%6.57%8.65%12.78%11.18%11.66%11.2%10.95%
Equity / Assets56.14%63.09%69.17%63.89%66.37%74.72%77.57%79%77.53%78.5%
Book Value / Share7.999.2811.5213.0813.8414.9217.6619.5922.823.09
Debt / Equity0.26x0.23x0.19x0.26x0.24x0.14x0.13x0.12x0.13x0.13x
Revenue Growth0.34%5.42%8.02%-1.22%-1.12%-1.09%-1.51%4.56%0.49%-1.24%

MTG SEC Filings & Documents

MGIC Investment Corporation (MTG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Apr 23, 2026·SEC

Material company update

Feb 2, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

4
FY 2026

Apr 29, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

MTG Frequently Asked Questions

MGIC Investment Corporation (MTG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MGIC Investment Corporation (MTG) grew revenue by 0.5% over the past year. Growth has been modest.

Yes, MGIC Investment Corporation (MTG) is profitable, generating $718.2M in net income for fiscal year 2025 (60.8% net margin).

Dividend & Returns

Yes, MGIC Investment Corporation (MTG) pays a dividend with a yield of 2.24%. This makes it attractive for income-focused investors.

MGIC Investment Corporation (MTG) has a return on equity (ROE) of 14.3%. This is reasonable for most industries.

Industry Metrics

MGIC Investment Corporation (MTG) has a combined ratio of 23.5%. A ratio below 100% indicates underwriting profitability.

Explore More MTG

MGIC Investment Corporation (MTG) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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