RDN FY 2017 Earnings Report — Radian Group Inc. Revenue & Financial Results | Market Cap Arena

Radian Group Inc.RDN

FY 2017 Earnings

Reported February 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.2B	—	-1.4%
Op. Income	$347M	—	$484M	—	-28.3%
Gross Margin	78.4%	—	72.5%	—	5.9pp
Net Margin	9.9%	—	24.9%	—	-15.0pp
EPS (Diluted)	$0.55	—	$1.37	—	-59.9%
Free Cash Flow	$332M	—	$346M	—	-4.1%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$264M
GROSS PROFIT	$958M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$611M
Operating Expenses	$611M
Cost & Expenses	$875M
OPERATING INCOME	$347M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$0
INCOME BEFORE TAX	$347M
Income Tax Expense	$226M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$215.0K
BOTTOM LINE NET INCOME	$121M
D&A	$86M
EBIT	$409M
EBITDA	$495M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$264M
GROSS PROFIT	$958M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$611M
Operating Expenses	$611M
Cost & Expenses	$875M
OPERATING INCOME	$347M
Interest Income	$0
Interest Expense	$63M
Other Income/Expenses	$0
INCOME BEFORE TAX	$347M
Income Tax Expense	$226M
Net Income from Continuing Ops	$121M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$121M
Net Income Deductions	$215.0K
BOTTOM LINE NET INCOME	$121M
D&A	$86M
EBIT	$409M
EBITDA	$495M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$121M
Depreciation & Amortization	$86M
Stock-Based Compensation	$0
Deferred Income Tax	$167M
Other Non-Cash Items	$232M
Change in Working Capital	-$245M
OPERATING CASH FLOW	$361M
Capital Expenditure	-$29M
Acquisitions (Net)	-$736.0K
Purchases of Investments	-$2.2B
Sales/Maturities of Investments	$2.0B
Other Investing Activities	$882.0K
NET CASH FROM INVESTING	-$201M
Net Debt Issuance	-$152M
Common Stock Repurchased	-$6.0K
Common Dividends Paid	-$2M
Other Financing Activities	$22M
NET CASH FROM FINANCING	-$125M
FREE CASH FLOW	$332M
Net Change in Cash	$34M

Balance Sheet

Item	Amount
Cash & Equivalents	$81M
Short-Term Investments	$3.9B
Net Receivables	$81M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.4B
PP&E (Net)	$38M
Goodwill	$11M
Intangible Assets	$102M
Long-Term Investments	$0
Tax Assets	$230M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$1.5B
TOTAL ASSETS	$5.9B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$288M
TOTAL CURRENT LIABILITIES	$288M
Long-Term Debt	$1.0B
Deferred Revenue NC	$90M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$2.9B
Common Stock	$233.0K
Additional Paid-In Capital	$2.8B
Retained Earnings	$1.1B
Treasury Stock	-$894M
Accum. Other Comp. Income	$23M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$1.0B
Net Debt	$947M