The company maintains a conservative leverage profile with $5.0 billion in equity against $1.4 billion in total liabilities, providing a robust buffer for regulatory capital requirements.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Assets | 6.42B | 6.64B | 6.55B | 6.54B | 6.21B | 7.33B | 7.35B | 6.23B | 5.68B | 5.62B | 5.73B | 5.88B | 5.27B | 5.6B | 5.57B | 7.22B | 9.33B | 9.4B | 9.15B | 7.72B | 6.62B | 6.36B | 6.38B | 5.92B | 5.3B | 4.57B | 3.86B | 3.1B | 3.05B | 2.62B | 2.22B |
| Asset Growth % | -0.9% | 1.41% | 0.14% | 5.22% | -15.17% | -0.4% | 18.06% | 9.72% | 1.04% | -2.01% | -2.47% | 11.64% | -5.98% | 0.49% | -22.75% | -22.69% | -0.75% | 2.82% | 18.54% | 16.53% | 4.15% | -0.36% | 7.83% | 11.64% | 16.06% | 18.38% | 24.27% | 1.77% | 16.54% | 17.79% | 18.54% |
| Total Investment Assets | 4M | 5.81B | 5.87B | 5.74B | 5.42B | 6.61B | 6.68B | 5.76B | 5.16B | 4.99B | 4.69B | 4.66B | 4.61B | 4.87B | 4.23B | 5.82B | 7.46B | 7.25B | 7.05B | 6.04B | 5.25B | 5.49B | 5.58B | 5.21B | 4.73B | 4.07B | 3.47B | 2.79B | 2.78B | 2.42B | 2.03B |
| Long-Term Investments | 5.86B | 5.81B | 15.87M | 15.62M | 14.99M | 19.17M | 6.68B | 5.76B | 5.16B | 4.99B | 4.69B | 4.66B | 4.61B | 4.87B | 4.23B | 5.82B | 7.46B | 7.25B | 7.05B | 6.04B | 5.25B | 5.49B | 5.58B | 5.21B | 4.73B | 4.07B | 3.47B | 2.79B | 2.78B | 2.42B | 2.03B |
| Short-Term Investments | 5.7B | 0 | 5.85B | 5.72B | 5.41B | 6.59B | 6.66B | 5.74B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 190.64M | 163.64M | 137.73M | 102.23M | 159.96M | 151.59M | 107.75M | 172.21M | 114.73M | 140.11M |
| Total Current Assets | 6.16B | 0 | 6.26B | 6.25B | 5.9B | 7.1B | 0 | 0 | 5.37B | 5.14B | 4.89B | 4.89B | 4.86B | 5.26B | 5.32B | 6.89B | 0 | 0 | 0 | 0 | 0 | 195.26M | 15.85M | 18.23M | 240.25M | 221.66M | 199.1M | 152.52M | 231.14M | 155.28M | 185.55M |
| Cash & Equivalents | 235.09M | 375.51M | 229.49M | 363.67M | 327.38M | 284.69M | 287.95M | 161.85M | 151.89M | 99.85M | 155.41M | 181.12M | 215.09M | 350.13M | 1.03B | 995.8M | 1.3B | 1.19B | 1.1B | 288.93M | 293.74M | 4.62M | 2.83M | 23.61M | 11.04M | 26.39M | 5.6M | 2.32M | 4.65M | 4.89M | 3.86M |
| Receivables | 605.96M | 58.18M | 170.08M | 160.47M | 159.5M | 211.62M | 151.75M | 78.75M | 91.37M | 106.39M | 107.85M | 96.28M | 213.21M | 139.18M | 188.28M | 71.07M | 79.57M | 365.33M | 468.07M | 973M | 101.49M | 0 | 0 | 0 | 118.8M | 35.3M | 41.91M | 42.45M | 54.28M | 35.65M | 41.57M |
| Other Current Assets | 14.4M | -433.7M | 5.14M | 6.98M | 5.53M | 20.27M | -7.1B | -5.98B | 741.05M | 741.65M | 685.64M | 269.81M | 725.54M | 1.18B | 2.22B | 5.82B | -1.39B | -1.55B | -1.57B | -1.27B | -404.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 36M | 8.38M | 11.69M | 14.59M | 19.06M | 21.67M | 0 | 0 | -186.56M | -192.57M | -289.7M | -762.08M | 12.24M | 9.72M | 11.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -204.45M | -211.41M | -307.46M | -777.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 7.96M | 8.38M | 11.69M | 14.59M | 19.06M | 21.67M | 0 | 0 | 17.89M | 18.84M | 17.76M | 15.24M | 12.24M | 9.72M | 11.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 31.95M | 32.45M | 35.68M | 38.76M | 41.42M | 45.61M | 47.14M | 50.12M | 51.73M | 44.94M | 36.09M | 30.09M | 28.69M | 26.18M | 27.19M | 28.14M | 28.64M | 29.56M | 32.26M | 34.6M | 32.6M | 32.67M | 36.38M | 36.72M | 35.96M | 34.76M | 31.31M | 32.88M | 32.4M | 33.78M | 35.05M |
| Other Assets | 189.96M | 790.99M | 157.72M | 135.4M | 111.44M | 134.39M | -6.73B | -5.81B | -4.9B | -4.55B | -3.89B | -3.7B | -4.24B | -4.55B | -4.01B | -5.52B | -7.49B | -7.28B | -7.08B | -6.07B | -5.29B | -5.52B | -5.62B | -5.24B | -4.76B | -4.1B | -3.5B | -2.82B | -2.81B | -2.45B | -2.07B |
| Total Liabilities | 1.38B | 1.49B | 1.37B | 1.47B | 1.57B | 2.46B | 2.66B | 1.92B | 2.1B | 2.46B | 3.19B | 3.64B | 4.23B | 4.86B | 5.38B | 6.02B | 7.66B | 8.1B | 6.71B | 5.12B | 2.33B | 2.19B | 2.24B | 2.12B | 1.91B | 1.55B | 1.39B | 1.33B | 1.41B | 1.13B | 856.2M |
| Total Debt | 646.51M | 646.14M | 644.67M | 643.2M | 662.81M | 1.15B | 1.24B | 832.74M | 831.59M | 830.43M | 1.18B | 1.22B | 1.3B | 1.32B | 824.52M | 859.94M | 1.04B | 668.88M | 970.91M | 798.25M | 781.28M | 685.16M | 639.3M | 599.68M | 677.25M | 472.1M | 397.36M | 425M | 442M | 237.5M | 35.42M |
| Net Debt | 411.42M | 270.62M | 415.18M | 279.53M | 335.43M | 862.02M | 955.24M | 670.89M | 679.69M | 730.58M | 1.02B | 1.04B | 1.08B | 967.16M | -203.11M | -135.86M | -267.2M | -516.86M | -126.42M | 509.32M | 487.54M | 680.55M | 636.47M | 576.07M | 666.21M | 445.71M | 391.77M | 422.68M | 437.35M | 232.61M | 31.56M |
| Long-Term Debt | 646.51M | 646.14M | 644.67M | 643.2M | 662.81M | 1.15B | 1.24B | 832.74M | 831.59M | 830.43M | 1.18B | 1.21B | 1.3B | 1.32B | 824.52M | 859.94M | 1.04B | 668.88M | 970.91M | 798.25M | 781.28M | 0 | 639.3M | 599.68M | 677.25M | 472.1M | 397.36M | 425M | 442M | 237.5M | 35.4M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35.42M |
| Total Current Liabilities | 591.73M | 0 | 583.02M | 663.16M | 753.28M | 1.13B | 0 | 0 | 1.26B | 1.63B | 2.01B | 2.42B | 2.93B | 3.54B | 4.55B | 5.16B | 0 | 0 | 0 | 0 | 0 | 1.51B | 1.6B | 1.52B | 1.23B | 1.07B | 995.5M | 903.4M | 968M | 893.4M | 820.8M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 92.61M | 93.03M | 120.36M | 157.78M | 195.29M | 241.69M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -599.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 499.12M | -93.03M | 462.66M | 505.38M | 557.99M | 883.52M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.38B | 0 | 0 | 0 | 0 | -34.48M | 1.16B | 1.62B | 1.4B | 1.09B | 993.76M | 0 | 0 | 936.97M | 865.68M | 762.26M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 141.23M | 845.8M | 147.17M | 160.01M | 154.97M | 191.7M | -1.24B | -832.74M | 0 | 0 | 0 | 2.42B | 2.93B | 3.54B | -19K | -859.94M | -1.04B | -668.88M | -970.91M | -798.25M | -781.28M | 0 | -639.3M | -599.68M | -46K | -2K | -397.36M | -425M | -442M | -237.5M | -35.4M |
| Total Equity | 5.04B | 5.15B | 5.17B | 5.07B | 4.64B | 4.86B | 4.7B | 4.31B | 3.58B | 3.15B | 2.55B | 2.24B | 1.04B | 744.54M | 196.94M | 1.2B | 1.67B | 1.3B | 2.43B | 2.59B | 4.3B | 4.17B | 4.14B | 3.8B | 3.4B | 3.02B | 2.46B | 1.78B | 1.64B | 1.49B | 1.37B |
| Equity Growth % | -4.03% | -0.48% | 1.98% | 9.25% | -4.5% | 3.46% | 9.04% | 20.31% | 13.55% | 23.76% | 13.98% | 115.66% | 39.27% | 278.05% | -83.54% | -28.29% | 28.13% | -46.49% | -6.17% | -39.61% | 3.14% | 0.52% | 9.13% | 11.83% | 12.42% | 22.53% | 38.79% | 8.25% | 10.35% | 8.83% | 21.82% |
| Shareholders Equity | 5.04B | 5.15B | 5.17B | 5.07B | 4.64B | 4.86B | 4.7B | 4.31B | 3.58B | 3.15B | 2.55B | 2.24B | 1.04B | 744.54M | 196.94M | 1.2B | 1.67B | 1.3B | 2.43B | 2.59B | 4.3B | 4.17B | 4.14B | 3.8B | 3.4B | 3.02B | 2.46B | 1.78B | 1.64B | 1.49B | 1.37B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 3.2B | 3.25B | 3.4B | 4.59B | 4B | 3.25B | 2.64B | 2.28B | 1.65B | 977.16M | 632.56M | 290.05M | -852.46M | -1.07B | -990.28M | -11.63M | 525.56M | 924.71M | 2.25B | 4.35B | 6B | 5.52B | 4.94B | 4.41B | 3.93B | 3.31B | 2.68B | 2.15B | 1.69B | 1.32B | 1B |
| Common Stock | 213.2M | 219.37M | 248.45M | 371.35M | 371.35M | 371.35M | 371.35M | 371.35M | 371.35M | 370.57M | 359.4M | 340.1M | 340.05M | 340.05M | 205.05M | 205.05M | 205.05M | 130.16M | 130.12M | 123.07M | 123.03M | 122.55M | 122.32M | 121.59M | 121.42M | 121.11M | 121.11M | 121.11M | 121.11M | 121.11M | 60.55M |
| Accumulated OCI | -167.48M | -134.39M | -288.16M | -316.28M | -481.51M | 119.7M | 216.82M | 72.71M | -124.21M | -43.78M | -75.1M | -60.88M | -81.34M | -117.73M | -48.16M | 30.12M | 22.14M | 74.16M | -106.79M | 70.67M | 65.79M | 77.5M | 123.38M | 140.65M | 147.91M | 46.64M | 75.81M | -40.73M | 94.57M | 83.98M | 40.69M |
| Return on Equity (ROE) | 14% | 14.31% | 14.9% | 14.68% | 18.21% | 13.28% | 9.9% | 17.08% | 19.89% | 12.48% | 14.32% | 71.62% | 28.29% | -10.59% | -133.03% | -33.91% | -24.48% | -70.77% | -20.89% | -48.48% | 13.35% | 15.09% | 13.93% | 13.73% | 19.62% | 23.3% | 25.56% | 27.52% | 24.65% | 22.7% | 20.74% |
| Return on Assets (ROA) | 10.95% | 11.2% | 11.66% | 11.18% | 12.78% | 8.65% | 6.57% | 11.32% | 11.86% | 6.27% | 5.9% | 21.03% | 4.64% | -0.89% | -14.5% | -5.87% | -3.88% | -14.26% | -6.23% | -23.29% | 8.7% | 9.84% | 9% | 8.81% | 12.75% | 15.17% | 15.57% | 15.28% | 13.6% | 13.38% | 12.59% |
| Equity / Assets | 78.5% | 77.53% | 79% | 77.57% | 74.72% | 66.37% | 63.89% | 69.17% | 63.09% | 56.14% | 44.45% | 38.03% | 19.69% | 13.29% | 3.53% | 16.59% | 17.88% | 13.85% | 26.61% | 33.62% | 64.88% | 65.51% | 64.94% | 64.17% | 64.06% | 66.13% | 63.89% | 57.21% | 53.78% | 56.8% | 61.47% |
| Debt / Equity | 0.13x | 0.13x | 0.12x | 0.13x | 0.14x | 0.24x | 0.26x | 0.19x | 0.23x | 0.26x | 0.46x | 0.55x | 1.25x | 1.77x | 4.19x | 0.72x | 0.62x | 0.51x | 0.40x | 0.31x | 0.18x | 0.16x | 0.15x | 0.16x | 0.20x | 0.16x | 0.16x | 0.24x | 0.27x | 0.16x | 0.03x |
| Book Value per Share | 23.09 | 22.80 | 19.59 | 17.66 | 14.92 | 13.84 | 13.08 | 11.52 | 9.28 | 7.99 | 5.90 | 4.78 | 2.51 | 2.20 | 0.97 | 5.95 | 8.33 | 10.49 | 21.36 | 31.91 | 50.57 | 45.05 | 42.18 | 38.34 | 32.58 | 28.02 | 22.97 | 16.24 | 14.43 | 12.63 | 11.49 |
| Tangible BV per Share | 23.05 | 22.77 | 19.55 | 17.61 | 14.86 | 13.78 | 13.08 | 11.52 | 9.76 | 8.48 | 6.57 | 6.41 | 2.48 | 2.18 | 0.92 | 5.95 | 8.33 | 10.49 | 21.36 | 31.91 | 50.57 | 45.05 | 42.18 | 38.34 | 32.58 | 28.02 | 22.97 | 16.24 | 14.43 | 12.63 | 11.49 |
Unemployment-driven credit deterioration
As reported in recent financial statements, MGIC’s total equity has remained relatively stable at $5.0 billion in 2026Q1, suggesting that the company’s capital base is successfully absorbing the impact of decelerating premium growth while maintaining a fortress-like position against potential future housing market volatility.
The stability in equity despite a challenging interest rate environment indicates that the company is effectively managing its capital retention. Investors should monitor whether this plateau in equity growth reflects a strategic choice to prioritize shareholder returns over aggressive expansion in a cooling mortgage market.
Based on the company's reported figures, the loss provision has risen to $34.5 million in 2026Q1, which marks a significant departure from the negative loss provisions observed in previous quarters and suggests a shift toward more conservative reserve adequacy as the credit cycle matures.
The transition from negative loss provisions to a positive $34.5 million charge indicates that the tailwinds from previous reserve releases are fading. This trend warrants further investigation into whether the company is preparing for a potential uptick in delinquency rates as the broader economic environment softens.
According to the provided balance sheet data, MGIC maintains a robust equity-to-liability ratio, with total liabilities of $1.4 billion against $5.0 billion in equity, underscoring a conservative leverage profile that provides significant capacity to navigate regulatory capital requirements under the PMIERs framework.
The company’s minimal reliance on debt appears to be a core pillar of its risk management strategy, allowing it to maintain high solvency ratios even during periods of revenue stagnation. This capital structure suggests that management is well-positioned to continue its current buyback program without compromising its regulatory standing.
As indicated by the recent uptick in the loss ratio to 11.6% in 2026Q1, the company’s balance sheet remains highly sensitive to labor market conditions, which may pose a non-obvious risk if rising unemployment begins to erode the equity buffers currently protecting the insured mortgage portfolio.
While the current balance sheet appears fortress-like, the underlying risk is concentrated in the potential for a systemic increase in mortgage defaults. Investors should be cautious, as any sustained deterioration in the housing market could force a rapid reversal of the favorable underwriting trends observed over the last two years.
Quick answers to the most common questions about buying MTG stock.
As of 2025, MGIC Investment Corporation (MTG) had total assets of $6.64B including $0.0M in current assets.
MGIC Investment Corporation (MTG) carries total debt of $646.1M, offset by $375.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
MGIC Investment Corporation (MTG) has total shareholders' equity (book value) of $5.15B ($22.80 book value per share). Book value represents the net worth of the company belonging to common stock holders.