MTG FY 2025 Earnings Report — MGIC Investment Corporation Revenue & Financial Results | Market Cap Arena

MGIC Investment CorporationMTG

FY 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.2B	—	0.5%
Op. Income	$929M	—	$969M	—	-4.1%
Gross Margin	94.9%	—	100.5%	—	-5.6pp
Net Margin	60.8%	—	63.2%	—	-2.3pp
EPS (Diluted)	$3.14	—	$2.89	—	8.7%
Free Cash Flow	$852M	—	$724M	—	17.7%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$62M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$176M
Operating Expenses	$223M
Cost & Expenses	$285M
OPERATING INCOME	$929M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$0
INCOME BEFORE TAX	$929M
Income Tax Expense	$190M
Net Income from Continuing Ops	$738M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$738M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$738M
D&A	$7M
EBIT	$964M
EBITDA	$971M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$62M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$176M
Operating Expenses	$223M
Cost & Expenses	$285M
OPERATING INCOME	$929M
Interest Income	$0
Interest Expense	$35M
Other Income/Expenses	$0
INCOME BEFORE TAX	$929M
Income Tax Expense	$190M
Net Income from Continuing Ops	$738M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$738M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$738M
D&A	$7M
EBIT	$964M
EBITDA	$971M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$738M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$50M
Change in Working Capital	$64M
OPERATING CASH FLOW	$853M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$111M
Other Investing Activities	$1.7B
NET CASH FROM INVESTING	$228M
Net Debt Issuance	$0
Common Stock Repurchased	-$789M
Common Dividends Paid	-$132M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	-$940M
FREE CASH FLOW	$852M
Net Change in Cash	$141M

Balance Sheet

Item	Amount
Cash & Equivalents	$376M
Short-Term Investments	$0
Net Receivables	$58M
Inventory	$0
Other Current Assets	-$434M
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$32M
Goodwill	$0
Intangible Assets	$8M
Long-Term Investments	$5.8B
Tax Assets	$0
Other Non-Current Assets	$791M
TOTAL NON-CURRENT ASSETS	$6.6B
TOTAL ASSETS	$6.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$93M
Other Current Liabilities	-$93M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$646M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$846M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$1.5B
Common Stock	$219M
Additional Paid-In Capital	$1.8B
Retained Earnings	$3.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$134M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$0
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$646M
Net Debt	$271M