MGIC Investment Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	965.81	970.81	952.55	1,007	1,014
Total Interest & Dividend Income	246.26	244.64	214.74	167.48	156.44
Gain (Loss) on Sale of Investments	0.33	-9.85	-14.14	-7.46	5.86
Other Revenue	1.23	2.13	1.95	5.64	8.96
Total Revenue	1,214	1,208	1,155	1,173	1,186
Revenue Growth (YoY)	0.49%	4.56%	-1.51%	-1.09%	-1.12%
Policy Benefits	48.9	-14.86	-20.86	-254.57	64.58
Policy Acquisition & Underwriting Costs	200.59	186.96	205.22	224.29	193.94
Total Operating Expenses	249.5	203.42	215.97	-5.5	275.62
Operating Income	964.14	1,004	939.13	1,178	910.05
Interest Expense	-35.6	-35.6	-36.91	-48.05	-71.36
EBT Excluding Unusual Items	928.54	968.71	902.23	1,130	838.69
Other Unusual Items	-	-	-	-40.2	-36.91
Pretax Income	928.54	968.71	902.23	1,090	801.78
Income Tax Expense	190.19	205.72	189.28	224.69	166.79
Net Income	738.35	762.99	712.95	865.35	634.98
Net Income to Common	738.35	762.99	712.95	865.35	634.98
Net Income Growth	-3.23%	7.02%	-17.61%	36.28%	42.34%
Shares Outstanding (Basic)	233	262	284	306	334
Shares Outstanding (Diluted)	235	264	287	311	351
Shares Change (YoY)	-10.95%	-8.06%	-7.74%	-11.41%	-2.22%
EPS (Basic)	3.17	2.92	2.51	2.83	1.90
EPS (Diluted)	3.14	2.89	2.49	2.79	1.85
EPS Growth	8.65%	16.23%	-10.91%	50.99%	43.40%
Free Cash Flow	-	723.86	710.96	646.76	692.2
Free Cash Flow Per Share	-	2.74	2.48	2.08	1.97
Dividend Per Share	0.560	0.490	0.430	0.360	0.280
Dividend Growth	14.29%	13.95%	19.44%	28.57%	16.67%
Operating Margin	79.44%	83.16%	81.30%	100.47%	76.75%
Profit Margin	60.84%	63.18%	61.72%	73.79%	53.55%
Free Cash Flow Margin	-	59.94%	61.55%	55.15%	58.38%
EBITDA	972.31	1,023	974.36	1,233	976.07
EBITDA Margin	80.12%	84.68%	84.35%	105.09%	82.32%
D&A For EBITDA	8.17	18.44	35.23	54.25	66.01
EBIT	964.14	1,004	939.13	1,178	910.05
EBIT Margin	79.44%	83.16%	81.30%	100.47%	76.75%
Effective Tax Rate	20.48%	21.24%	20.98%	20.61%	20.80%
Revenue as Reported	1,214	1,208	1,155	1,173	1,186

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

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