RDN FY 2020 Earnings Report — Radian Group Inc. Revenue & Financial Results | Market Cap Arena

Radian Group Inc.RDN

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.5B	—	-5.7%
Op. Income	$479M	—	$849M	—	-43.5%
Gross Margin	58.2%	—	82.6%	—	-24.4pp
Net Margin	27.3%	—	44.0%	—	-16.7pp
EPS (Diluted)	$2.00	—	$3.20	—	-37.5%
Free Cash Flow	$641M	—	$667M	—	-3.8%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$602M
GROSS PROFIT	$838M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$358M
Operating Expenses	$358M
Cost & Expenses	$960M
OPERATING INCOME	$479M
Interest Income	$0
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$479M
Income Tax Expense	$86M
Net Income from Continuing Ops	$394M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$394M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$394M
D&A	$72M
EBIT	$551M
EBITDA	$622M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$602M
GROSS PROFIT	$838M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$358M
Operating Expenses	$358M
Cost & Expenses	$960M
OPERATING INCOME	$479M
Interest Income	$0
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$479M
Income Tax Expense	$86M
Net Income from Continuing Ops	$394M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$394M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$394M
D&A	$72M
EBIT	$551M
EBITDA	$622M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$394M
Depreciation & Amortization	$72M
Stock-Based Compensation	$19M
Deferred Income Tax	$102M
Other Non-Cash Items	-$79M
Change in Working Capital	$151M
OPERATING CASH FLOW	$658M
Capital Expenditure	-$17M
Acquisitions (Net)	$16M
Purchases of Investments	-$2.5B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$90M
NET CASH FROM INVESTING	-$883M
Net Debt Issuance	$547M
Common Stock Repurchased	-$226M
Common Dividends Paid	-$97M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	$223M
FREE CASH FLOW	$641M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$88M
Short-Term Investments	$6.3B
Net Receivables	$194M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.1B
PP&E (Net)	$113M
Goodwill	$10M
Intangible Assets	$13M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$709M
TOTAL NON-CURRENT ASSETS	$846M
TOTAL ASSETS	$7.9B
Account Payables	$0
Short-Term Debt	$129M
Deferred Revenue	$0
Other Current Liabilities	$279M
TOTAL CURRENT LIABILITIES	$407M
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$214M
Other Non-Current Liabilities	$1.6B
TOTAL NON-CURRENT LIABILITIES	$3.3B
TOTAL LIABILITIES	$3.7B
Common Stock	$210.0K
Additional Paid-In Capital	$2.2B
Retained Earnings	$2.7B
Treasury Stock	-$910M
Accum. Other Comp. Income	$264M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$0
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$7.9B
Total Debt	$1.6B
Net Debt	$1.5B