RDN FY 2018 Earnings Report — Radian Group Inc. Revenue & Financial Results | Market Cap Arena

Radian Group Inc.RDN

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	4.2%
Op. Income	$684M	—	$347M	—	97.3%
Gross Margin	82.1%	—	78.4%	—	3.7pp
Net Margin	47.6%	—	9.9%	—	37.7pp
EPS (Diluted)	$2.77	—	$0.55	—	403.6%
Free Cash Flow	$652M	—	$332M	—	96.4%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$228M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$361M
Operating Expenses	$361M
Cost & Expenses	$589M
OPERATING INCOME	$684M
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$684M
Income Tax Expense	$78M
Net Income from Continuing Ops	$606M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$606M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$606M
D&A	$69M
EBIT	$746M
EBITDA	$815M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$228M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$361M
Operating Expenses	$361M
Cost & Expenses	$589M
OPERATING INCOME	$684M
Interest Income	$0
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$684M
Income Tax Expense	$78M
Net Income from Continuing Ops	$606M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$606M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$606M
D&A	$69M
EBIT	$746M
EBITDA	$815M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$606M
Depreciation & Amortization	$69M
Stock-Based Compensation	$0
Deferred Income Tax	$121M
Other Non-Cash Items	$42M
Change in Working Capital	-$160M
OPERATING CASH FLOW	$678M
Capital Expenditure	-$26M
Acquisitions (Net)	-$8M
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$689M
Net Debt Issuance	$73M
Common Stock Repurchased	-$50M
Common Dividends Paid	-$2M
Other Financing Activities	$0
NET CASH FROM FINANCING	$22M
FREE CASH FLOW	$652M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$95M
Short-Term Investments	$4.5B
Net Receivables	$138M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.2B
PP&E (Net)	$37M
Goodwill	$14M
Intangible Assets	$96M
Long-Term Investments	$0
Tax Assets	$132M
Other Non-Current Assets	$835M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$6.3B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$321M
TOTAL CURRENT LIABILITIES	$321M
Long-Term Debt	$1.1B
Deferred Revenue NC	$174M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$2.5B
TOTAL LIABILITIES	$2.8B
Common Stock	$231.0K
Additional Paid-In Capital	$2.7B
Retained Earnings	$1.7B
Treasury Stock	-$895M
Accum. Other Comp. Income	-$61M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$6.3B
Total Debt	$1.1B
Net Debt	$1.0B