MGIC INVESTMENT CORP (MTG) financial statements: income statement, balance sheet and cash flow
MGIC INVESTMENT CORP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MGIC INVESTMENT CORP reported revenue of $1.2B (+0.5% year on year) and net income of $738.3M (-3.2% year on year).
Income statement
MGIC INVESTMENT CORP income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Direct
$1.1B
$1.1B
$1.1B
$1.1B
Assumed
$14.4M
$14.4M
$12.8M
$8.5M
Ceded
($190.0M)
($181.9M)
($202.8M)
($156.4M)
Net premiums written
$938.5M
$933.4M
$915.0M
$960.7M
Decrease in unearned premiums, net
$27.3M
$37.4M
$37.5M
$46.4M
Net premiums earned
$965.8M
$970.8M
$952.6M
$1.0B
Investment income, net of expenses
$246.3M
$244.6M
$214.7M
$167.5M
Net gains (losses) on investments and other financial instruments
$334.0K
($9.8M)
($14.1M)
($7.5M)
Other revenue
$1.2M
$2.1M
$2.0M
$5.6M
Total revenues
$1.2B
$1.2B
$1.2B
$1.2B
Losses incurred, net
$48.9M
($14.9M)
($20.9M)
($254.6M)
Amortization of deferred insurance policy acquisition costs
$7.1M
$9.0M
$10.8M
$12.4M
Other underwriting and operating expenses, net
$193.5M
$209.3M
$226.0M
$236.7M
Interest expense
$35.6M
$35.6M
$36.9M
$48.1M
Total losses and expenses
$285.1M
$239.0M
$252.9M
$82.8M
Income before tax
$928.5M
$968.7M
$902.2M
$1.1B
Provision for income taxes
$190.2M
$205.7M
$189.3M
$224.7M
Net income
$738.3M
$763.0M
$712.9M
$865.3M
Basic (in dollars per share)
$3.17
$2.92
$2.51
$2.83
Diluted (in dollars per share)
$3.14
$2.89
$2.49
$2.79
Weighted average common shares outstanding - basic (in shares)
233.0M
261.7M
283.6M
305.8M
Weighted average common shares outstanding - diluted (in shares)
235.1M
264.0M
287.2M
311.2M
MGIC INVESTMENT CORP income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Direct
$279.4M
$286.5M
$279.2M
$277.2M
Assumed
$2.5M
$4.0M
$4.1M
$3.7M
Ceded
($52.0M)
($55.5M)
($48.1M)
($43.5M)
Net premiums written
$230.0M
$234.9M
$235.2M
$237.4M
Decrease in unearned premiums, net
$8.1M
$420.0K
$6.5M
$6.9M
Net premiums earned
$238.1M
$235.4M
$241.8M
$244.3M
Investment income, net of expenses
$59.5M
$61.7M
$62.2M
$61.0M
Net gains (losses) on investments and other financial instruments
($2.2M)
($169.0K)
$162.0K
($1.4M)
Other revenue
$92.0K
$141.0K
$383.0K
$354.0K
Total Revenues
$295.4M
$297.1M
$304.5M
$304.2M
Losses incurred, net
$11.0M
$33.2M
$10.9M
($2.8M)
Amortization of deferred insurance policy acquisition costs
$1.3M
$1.2M
$1.8M
$1.7M
Other underwriting and operating expenses, net
$44.3M
$46.9M
$47.8M
$50.4M
Interest expense
$8.9M
$8.9M
$8.9M
$8.9M
Total Losses and Expenses
$65.5M
$90.2M
$69.4M
$58.2M
Income before tax
$229.9M
$206.8M
$235.1M
$246.1M
Provision for income tax
$47.8M
$41.5M
$44.0M
$53.6M
Net Income
$182.1M
$165.3M
$191.1M
$192.5M
Basic (in dollars per share)
$0.87
$0.76
$0.83
$0.81
Diluted (in dollars per share)
$0.86
$0.76
$0.83
$0.81
Weighted average common shares outstanding - basic (in shares)
209.9M
216.1M
229.3M
236.3M
Weighted average common shares outstanding - diluted (in shares)
210.9M
218.2M
231.4M
238.0M
Balance sheet
MGIC INVESTMENT CORP balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Fair Value
$5.8B
$5.9B
$5.7B
$5.4B
Equity securities, at fair value (cost, 2025 - $16,286; 2024 - $16,146)
$15.3M
$14.8M
$14.8M
$14.1M
Other invested assets, at cost
$1.1M
$1.1M
$850.0K
$850.0K
Total investment portfolio
$5.8B
$5.9B
$5.7B
$5.4B
Cash and cash equivalents
$369.0M
$229.5M
$363.7M
$327.4M
Restricted cash and cash equivalents
$6.5M
$5.1M
$7.0M
$5.5M
Accrued investment income
$58.0M
$61.1M
$58.8M
$55.2M
Reinsurance recoverable on loss reserves
$65.1M
$47.3M
$33.3M
$28.2M
Reinsurance recoverable on paid losses
$4.4M
$4.2M
$9.9M
$18.1M
Premiums receivable
$58.2M
$57.5M
$58.5M
$58.0M
Home office and equipment, net
$32.5M
$35.7M
$38.8M
$41.4M
Deferred insurance policy acquisition costs
$8.4M
$11.7M
$14.6M
$19.1M
Deferred income taxes, net
$18.5M
$69.9M
$79.8M
$124.8M
Other assets
$211.3M
$157.7M
$135.4M
$111.4M
Total assets
$6.6B
$6.5B
$6.5B
$6.2B
Loss reserves
$474.9M
$462.7M
$505.4M
$558.0M
Unearned premiums
$93.0M
$120.4M
$157.8M
$195.3M
Senior notes
$646.1M
$644.7M
$643.2M
$641.7M
Federal tax credits payable
$135.3M
—
—
—
Other liabilities
$142.5M
$147.2M
$160.0M
$155.0M
Total liabilities
$1.5B
$1.4B
$1.5B
$1.6B
Common stock
$219.4M
$248.4M
$371.4M
$371.4M
Paid-in capital
$1.8B
$1.8B
$1.8B
$1.8B
Accumulated other comprehensive income (loss), net of tax
($134.4M)
($288.2M)
($316.3M)
($481.5M)
Retained earnings
$3.3B
$3.4B
$4.6B
$4.0B
Total shareholders' equity
$5.1B
$5.2B
$5.1B
$4.6B
Total liabilities and shareholders' equity
$6.6B
$6.5B
$6.5B
$6.2B
MGIC INVESTMENT CORP balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Fixed income available-for-sale
$5.7B
$5.7B
$5.9B
$5.8B
Equity securities, at fair value (cost 2026 - $16,360; 2025 - $16,286)
$15.3M
$15.2M
$15.3M
$15.0M
Other invested assets, at cost
$1.1M
$1.1M
$1.1M
$1.1M
Total investment portfolio
$5.7B
$5.7B
$5.9B
$5.8B
Cash and cash equivalents
$207.3M
$235.1M
$266.9M
$294.9M
Restricted cash and cash equivalents
$7.8M
$14.4M
$4.9M
$4.0M
Accrued investment income
$57.6M
$57.3M
$56.7M
$59.1M
Reinsurance recoverable on loss reserves
$76.1M
$73.2M
$57.6M
$53.8M
Reinsurance recoverable on paid losses
$5.4M
$3.9M
$2.4M
$2.0M
Premiums receivable
$69.7M
$68.1M
$56.5M
$57.2M
Home office and equipment, net
$31.6M
$31.9M
$32.7M
$33.2M
Deferred insurance policy acquisition costs
$7.5M
$8.0M
$9.4M
$10.3M
Deferred income taxes, net
$131.2M
$15.5M
$59.5M
$41.8M
Other assets
$215.3M
$190.0M
$194.1M
$167.5M
Total Assets
$6.5B
$6.4B
$6.6B
$6.5B
Loss reserves
$492.0M
$499.1M
$452.2M
$452.2M
Unearned premiums
$84.5M
$92.6M
$98.5M
$105.0M
Senior notes
$646.9M
$646.5M
$645.8M
$645.4M
Federal tax credits payable
$162.6M
$16.1M
$139.6M
—
Other liabilities
$127.6M
$125.1M
$116.9M
$184.8M
Total Liabilities
$1.5B
$1.4B
$1.5B
$1.4B
Common stock
$206.6M
$213.2M
$226.2M
$233.1M
Paid-in capital
$1.8B
$1.8B
$1.8B
$1.8B
Accumulated other comprehensive income (loss), net of tax
($168.8M)
($167.5M)
($159.2M)
($205.0M)
Retained earnings
$3.2B
$3.2B
$3.3B
$3.3B
Total Shareholders’ Equity
$5.0B
$5.0B
$5.2B
$5.2B
Total Liabilities and Shareholders’ Equity
$6.5B
$6.4B
$6.6B
$6.5B
Cash flow statement
MGIC INVESTMENT CORP cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$738.3M
$763.0M
$712.9M
$865.3M
Depreciation and other amortization
$6.9M
$18.4M
$35.2M
$54.3M
Deferred tax expense (benefit)
$19.2M
$2.4M
$1.1M
($4.4M)
Equity compensation
$24.4M
$31.3M
$31.6M
$24.8M
Net (gains) losses on investments and other financial instruments
($334.0K)
$9.8M
$14.1M
$7.5M
Accrued investment income
$3.1M
($2.3M)
($3.6M)
($3.3M)
Reinsurance recoverable on loss reserves
($17.8M)
($14.0M)
($5.1M)
$38.7M
Reinsurance recoverable on paid losses
($189.0K)
$5.7M
$8.2M
$18.2M
Premiums receivable
($648.0K)
$963.0K
($499.0K)
($1.5M)
Deferred insurance policy acquisition costs
$3.3M
$2.9M
$4.5M
$2.6M
Loss reserves
$12.2M
($42.7M)
($52.6M)
($325.5M)
Unearned premiums
($27.3M)
($37.4M)
($37.5M)
($46.4M)
Current income taxes
$93.2M
$16.3M
($4.1M)
($8.5M)
Other, net
($1.6M)
($20.8M)
$8.0M
($4.8M)
Net cash provided by (used in) operating activities
$852.8M
$725.0M
$713.0M
$650.0M
Purchases of investments
($1.6B)
($1.6B)
($1.5B)
($674.4M)
Proceeds from sales of investments
$110.9M
$45.1M
$376.6M
$399.7M
Proceeds from maturity of fixed income securities
$1.7B
$1.4B
$913.4M
$688.5M
Proceeds from sale of property and equipment
$0
$0
$2.3M
—
Additions to property and equipment
($1.0M)
($1.2M)
($2.0M)
($3.3M)
Net cash provided by (used in) investing activities
$228.4M
($142.0M)
($179.2M)
$410.5M
Conversion / purchase of convertible junior subordinated debentures
$0
$0
($28.6M)
($89.1M)
Repurchase of common stock
($788.6M)
($569.5M)
($337.2M)
($385.6M)
Dividends paid
($132.5M)
($130.5M)
($123.0M)
($110.9M)
Payment of withholding taxes related to share-based compensation net share settlement
($19.1M)
($19.1M)
($7.3M)
($10.1M)
Net cash provided by (used in) financing activities
($940.3M)
($719.0M)
($496.0M)
($1.0B)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents
$140.9M
($136.0M)
$37.7M
$28.0M
Cash and cash equivalents and restricted cash and cash equivalents at beginning of year
$234.6M
$370.6M
$332.9M
$305.0M
Cash and cash equivalents and restricted cash and cash equivalents at end of year