RDN FY 2021 Earnings Report — Radian Group Inc. Revenue & Financial Results | Market Cap Arena

Radian Group Inc.RDN

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.4B	—	-7.7%
Op. Income	$765M	—	$479M	—	59.5%
Gross Margin	88.4%	—	58.2%	—	30.3pp
Net Margin	45.2%	—	27.3%	—	17.9pp
EPS (Diluted)	$3.16	—	$2.00	—	58.0%
Free Cash Flow	$545M	—	$641M	—	-15.1%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$154M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$411M
Operating Expenses	$411M
Cost & Expenses	$564M
OPERATING INCOME	$765M
Interest Income	$112.0K
Interest Expense	$84M
Other Income/Expenses	$0
INCOME BEFORE TAX	$765M
Income Tax Expense	$164M
Net Income from Continuing Ops	$601M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$601M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$601M
D&A	$75M
EBIT	$849M
EBITDA	$925M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$154M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$411M
Operating Expenses	$411M
Cost & Expenses	$564M
OPERATING INCOME	$765M
Interest Income	$112.0K
Interest Expense	$84M
Other Income/Expenses	$0
INCOME BEFORE TAX	$765M
Income Tax Expense	$164M
Net Income from Continuing Ops	$601M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$601M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$601M
D&A	$75M
EBIT	$849M
EBITDA	$925M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$601M
Depreciation & Amortization	$75M
Stock-Based Compensation	$28M
Deferred Income Tax	$162M
Other Non-Cash Items	-$44M
Change in Working Capital	-$265M
OPERATING CASH FLOW	$557M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$2.1B
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	$4M
Common Stock Repurchased	-$399M
Common Dividends Paid	-$103M
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$497M
FREE CASH FLOW	$545M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$151M
Short-Term Investments	$6.1B
Net Receivables	$192M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.0B
PP&E (Net)	$107M
Goodwill	$10M
Intangible Assets	$10M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$745M
TOTAL NON-CURRENT ASSETS	$872M
TOTAL ASSETS	$7.8B
Account Payables	$0
Short-Term Debt	$124M
Deferred Revenue	$0
Other Current Liabilities	$228M
TOTAL CURRENT LIABILITIES	$352M
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$338M
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$3.6B
Common Stock	$194.0K
Additional Paid-In Capital	$1.9B
Retained Earnings	$3.2B
Treasury Stock	-$921M
Accum. Other Comp. Income	$120M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$0
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$7.8B
Total Debt	$1.6B
Net Debt	$1.4B