RDN

MKT CAP:$5B

Radian Group Inc.

Market Cap

$5B

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

Financials·Insurance·🇺🇸·NYSE

Stock Price

$35.60-$0.32 (-0.89%)

Apr 24, 2026

Company Details

Radian Group Inc., together with its subsidiaries, engages in the mortgage and real estate services business in the United States. Its Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on...

CEO

Richard Gerald Thornberry

IPO Date

Oct 30, 1992

Website

www.radian.com

Key Metrics TTM

Revenue

$1.3B

+2.1% YoY

Net Income

$587M

EPS (Diluted)

$3.96

Free Cash Flow

-$1.1B

Revenue / Share

$9.20

Gross Margin

93.0%

Operating Margin

58.2%

Net Margin

46.1%

FCF Margin

-88.4%

P/S

3.8x

P/E

8.3x

Earnings Reports

Q3 2025

Apr 29, 2026

PENDING

FY 2025

Feb 20, 2026

$1.2BEPS $4.14

Q2 2025

Aug 1, 2025

$318M-1.0%EPS $1.02

Q1 2025

May 2, 2025

$318M-0.5%EPS $0.98

Q4 2024

Feb 14, 2025

$317M-2.9%EPS $0.98

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$388M	$319M	$206M
Q1 20	$329M	$264M	$181M
Q2 20	$364M	$36M	-$42M
Q1 21	$329M	$253M	$161M
Q2 21	$336M	$303M	$195M
Q4 21	$338M	$349M	$247M
Q1 22	$293M	$345M	$234M
Q4 22	$315M	$336M	$203M
Q2 23	$290M	$296M	$183M
Q3 23	$313M	$305M	$201M
Q4 23	$326M	$307M	$180M
Q1 24	$319M	$310M	$199M
Q2 24	$321M	$307M	$188M
Q4 24	$317M	$300M	$189M
Q1 25	$318M	$287M	$188M
Q2 25	$318M	$290M	$175M

Valuation

Quarter	P/S	P/E
Q4 19	3.2x	7.2x
Q1 20	3.3x	7.6x
Q2 20	3.3x	10.9x
Q1 21	3.5x	12.3x
Q2 21	3.6x	12.4x
Q4 21	3.6x	11.0x
Q1 22	3.8x	7.4x
Q4 22	3.8x	7.0x
Q2 23	3.9x	7.1x
Q3 23	4.0x	7.5x
Q4 23	3.9x	8.0x
Q1 24	3.9x	8.1x
Q2 24	3.8x	8.1x
Q4 24	3.8x	8.2x
Q1 25	3.8x	8.2x
Q2 25	3.8x	8.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$188M	$181M
Q1 20	$156M	$151M
Q2 20	$149M	$144M
Q1 21	$153M	$151M
Q2 21	$123M	$120M
Q4 21	$154M	$150M
Q1 22	$117M	$113M
Q4 22	$106M	$101M
Q2 23	$72M	$67M
Q3 23	$75M	$71M
Q4 23	$265M	$263M
Q1 24	$51M	$49M
Q2 24	-$207M	-$208M
Q4 24	-$269M	-$270M
Q1 25	$68M	$67M
Q2 25	-$713M	-$715M

Capital Expenditures

Quarter	CapEx
Q4 19	$7M
Q1 20	$5M
Q2 20	$6M
Q1 21	$2M
Q2 21	$3M
Q4 21	$4M
Q1 22	$4M
Q4 22	$6M
Q2 23	$5M
Q3 23	$4M
Q4 23	$2M
Q1 24	$2M
Q2 24	$1M
Q4 24	$342.0K
Q1 25	$1M
Q2 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	+17.1%	+17.7%
Q1 20	-9.5%	+0.2%
Q2 20	-7.7%	+119.3%
Q1 21	-13.5%	+3.0%
Q2 21	-13.3%	-22.8%
Q4 21	+2.8%	-37.8%
Q1 22	-19.6%	-85.5%
Q4 22	-4.3%	-33.5%
Q2 23	-13.9%	-24.1%
Q3 23	-7.6%	+21.4%
Q4 23	+11.3%	+148.5%
Q1 24	+1.5%	+8.4%
Q2 24	+10.9%	+24.4%
Q4 24	+1.3%	+14.4%
Q1 25	-2.6%	-11.6%
Q2 25	-0.5%	+18.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$0	0.0%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

Revenue Segments

Quarter	All Other activities segment	Mortgage Insurance Segment	homegenius Segment
Q3 23	$18M	$289M	$15M
Q1 24	$34M	$285M	—
Q2 24	$40M	$286M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$132M	$5.9B	$6.1B
Q2 22	$135M	$5.6B	$5.7B
Q3 22	$55M	$5.3B	$5.4B
Q4 22	$56M	$5.4B	$5.5B
Q1 23	$50M	$5.5B	$5.6B
Q2 23	$61M	$5.6B	$5.7B
Q3 23	$55M	$5.5B	$5.6B
Q4 23	$19M	$5.8B	$5.9B
Q1 24	$27M	$5.9B	$5.9B
Q2 24	$14M	$5.9B	$5.9B
Q3 24	$28M	$5.7B	$5.8B
Q4 24	$39M	$5.6B	$5.6B
Q1 25	$24M	$5.6B	$5.7B
Q2 25	$22M	$5.4B	$5.5B
Q3 25	$15M	$5.6B	$5.7B
Q4 25	$25M	$5.9B	$5.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	210M	+0.8%	-3.5%
Q1 20	202M	-4.1%	-7.6%
Q2 20	193M	-4.2%	-9.5%
Q1 21	195M	+1.0%	-6.5%
Q2 21	195M	-0.3%	-7.5%
Q4 21	181M	-6.9%	-10.3%
Q1 22	179M	-1.1%	-7.4%
Q4 22	161M	-10.2%	-17.6%
Q2 23	161M	-0.0%	-17.4%
Q3 23	160M	-0.4%	-11.6%
Q4 23	157M	-1.8%	-12.2%
Q1 24	156M	-0.8%	-3.0%
Q2 24	154M	-1.0%	-3.9%
Q4 24	152M	-1.6%	-5.1%
Q1 25	148M	-2.8%	-6.0%
Q2 25	138M	-6.3%	-11.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$194.0K	2K
Q1 20	$164.5K	2K
Q2 20	$182.2K	2K
Q1 21	$205.5K	2K
Q2 21	$210.2K	2K
Q4 21	$188.0K	2K
Q1 22	$162.8K	2K
Q4 22	$224.8K	1K
Q2 23	$206.8K	1K
Q3 23	$223.2K	1K
Q4 23	$296.4K	1K
Q1 24	$290.4K	1K
Q2 24	$292.0K	1K
Q4 24	$316.7K	1K
Q1 25	$317.7K	1K
Q2 25	$317.8K	1K

Revenue / Employee