MTG

MKT CAP:$6B

MGIC Investment Corporation

Market Cap

$6B

Financial Services·Insurance - Specialty·🇺🇸 United States·NYSE

Financials·Insurance·🇺🇸·NYSE

Stock Price

$28.63-$0.52 (-1.78%)

Apr 24, 2026

Company Details

MGIC 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 Ri...

CEO

Salvatore Antonino Miosi

IPO Date

Aug 7, 1991

Website

mtg.mgic.com

Key Metrics TTM

Revenue

$1.2B

+0.5% YoY

Net Income

$738M

EPS (Diluted)

$3.14

Free Cash Flow

$852M

Revenue / Share

$5.38

Gross Margin

95.5%

Operating Margin

76.5%

Net Margin

60.8%

FCF Margin

70.2%

P/S

5.1x

P/E

8.4x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 25, 2026

$1.2B+0.5%EPS $3.14

Q4 2025

Feb 25, 2026

$299M-0.9%EPS $0.75

Q3 2025

Oct 29, 2025

$305M-0.7%EPS $0.83

Q2 2025

Jul 30, 2025

$304M-0.3%EPS $0.81

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$295M	$311M	$219M
Q2 22	$293M	$389M	$316M
Q3 22	$293M	$395M	$314M
Q4 22	$292M	$320M	$240M
Q1 23	$284M	$275M	$196M
Q2 23	$291M	$306M	$242M
Q3 23	$297M	$294M	$234M
Q4 23	$284M	$291M	$230M
Q1 24	$294M	$288M	$220M
Q2 24	$305M	$321M	$260M
Q3 24	$307M	$314M	$254M
Q4 24	$301M	$290M	$235M
Q1 25	$306M	$295M	$235M
Q2 25	$304M	$305M	$246M
Q3 25	$305M	$292M	$235M
Q4 25	$299M	$267M	$213M

Valuation

Quarter	P/S	P/E
Q1 22	5.3x	9.4x
Q2 22	5.3x	8.2x
Q3 22	5.3x	7.3x
Q4 22	5.3x	7.2x
Q1 23	5.3x	7.4x
Q2 23	5.4x	7.9x
Q3 23	5.3x	8.6x
Q4 23	5.4x	8.7x
Q1 24	5.3x	8.5x
Q2 24	5.3x	8.3x
Q3 24	5.2x	8.1x
Q4 24	5.1x	8.1x
Q1 25	5.1x	8.0x
Q2 25	5.1x	8.1x
Q3 25	5.1x	8.2x
Q4 25	5.1x	8.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$228M	$227M
Q2 22	$134M	$132M
Q3 22	$122M	$122M
Q4 22	$166M	$165M
Q1 23	$212M	$212M
Q2 23	$145M	$144M
Q3 23	$170M	$169M
Q4 23	$186M	$186M
Q1 24	$191M	$191M
Q2 24	$169M	$169M
Q3 24	$183M	$182M
Q4 24	$182M	$182M
Q1 25	$224M	$224M
Q2 25	$183M	$183M
Q3 25	$215M	$215M
Q4 25	$231M	$230M

Capital Expenditures

Quarter	CapEx
Q1 22	$888.0K
Q2 22	$1M
Q3 22	$256.0K
Q4 22	$852.0K
Q1 23	$363.0K
Q2 23	$308.0K
Q3 23	$784.0K
Q4 23	$544.0K
Q1 24	$0
Q2 24	$279.0K
Q3 24	$381.0K
Q4 24	$514.0K
Q1 25	$125.0K
Q2 25	$20.0K
Q3 25	$279.0K
Q4 25	$601.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-1.1%	-30.6%
Q2 22	-1.6%	-121.9%
Q3 22	-1.0%	-122.4%
Q4 22	-0.6%	-31.4%
Q1 23	-3.6%	+17.5%
Q2 23	-0.8%	+312.0%
Q3 23	+1.3%	+389.3%
Q4 23	-2.8%	+4.4%
Q1 24	+3.7%	-15.7%
Q2 24	+5.0%	-5.9%
Q3 24	+3.4%	-15.7%
Q4 24	+6.2%	+23.3%
Q1 25	+4.0%	-3.9%
Q2 25	-0.3%	+28.0%
Q3 25	-0.7%	+32.6%
Q4 25	-0.9%	+28.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$7M	2.2%
Q2 22	$8M	2.7%
Q3 22	$3M	1.1%
Q4 22	$7M	2.4%
Q1 23	$10M	3.4%
Q2 23	$8M	2.7%
Q3 23	$6M	1.9%
Q4 23	$9M	3.0%
Q1 24	$11M	3.8%
Q2 24	$7M	2.4%
Q3 24	$7M	2.1%
Q4 24	$6M	2.1%
Q1 25	$8M	2.6%
Q2 25	$5M	1.6%
Q3 25	$6M	1.9%
Q4 25	$0	0.0%

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$477M	$5.9B	$6.4B
Q2 22	$410M	$5.7B	$6.1B
Q3 22	$242M	$5.4B	$5.6B
Q4 22	$327M	$5.4B	$5.7B
Q1 23	$358M	$5.6B	$5.9B
Q2 23	$311M	$5.6B	$5.9B
Q3 23	$267M	$1.7B	$2.0B
Q4 23	$364M	$5.7B	$6.1B
Q1 24	$431M	$5.7B	$6.1B
Q2 24	$282M	$5.8B	$6.1B
Q3 24	$289M	$6.0B	$6.3B
Q4 24	$229M	$5.9B	$6.1B
Q1 25	$207M	$5.9B	$6.1B
Q2 25	$295M	$5.8B	$6.1B
Q3 25	$267M	$5.9B	$6.1B
Q4 25	$376M	$0	$376M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	325M	-4.2%	-8.9%
Q2 22	314M	-3.4%	-12.1%
Q3 22	307M	-2.0%	-13.1%
Q4 22	300M	-2.4%	-11.5%
Q1 23	295M	-1.7%	-9.2%
Q2 23	290M	-1.7%	-7.6%
Q3 23	286M	-1.4%	-7.0%
Q4 23	279M	-2.3%	-7.0%
Q1 24	273M	-2.1%	-7.3%
Q2 24	267M	-2.3%	-7.8%
Q3 24	261M	-2.3%	-8.7%
Q4 24	255M	-2.1%	-8.5%
Q1 25	246M	-3.5%	-9.7%
Q2 25	238M	-3.5%	-10.8%
Q3 25	231M	-2.8%	-11.3%
Q4 25	226M	-2.4%	-11.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$368.3K	800
Q2 22	$366.4K	800
Q3 22	$366.0K	800
Q4 22	$365.3K	800
Q1 23	$355.0K	800
Q2 23	$363.3K	800
Q3 23	$370.6K	800
Q4 23	$452.9K	627
Q1 24	$469.5K	627
Q2 24	$486.9K	627
Q3 24	$489.1K	627
Q4 24	$543.1K	555
Q1 25	$551.8K	555
Q2 25	$548.2K	555
Q3 25	$548.7K	555
Q4 25	$551.0K	542

Revenue / Employee