MGIC Investment Corporation (MTG) Income Statement
MTG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMTG revenue and net income
Where MTG's revenue goes
2025Each bar shows an amount and its share of revenue. MTG kept 60.8% of revenue as net income.
MTG profit margins
MTG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.5% | +1.1% | +0.2% | +1.5% |
| Gross profit | −5.1% | −6.6% | +7.0% | +4.9% |
| Operating income | −4.1% | −5.2% | +10.7% | +6.7% |
| Net income | −3.2% | −5.2% | +10.6% | −4.5% |
| EPS (diluted) | +8.2% | +2.7% | +19.0% | +11.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MTG quarterly EPS vs estimates
MGIC Investment beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.78).
MTG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.21B | $1.21B | $1.16B | $1.17B | $1.19B | $1.20B | $1.21B | $1.12B | $1.07B | $1.06B |
| Cost of revenue | $61.9M | −$5.9M | $226.0M | −$242.2M | $77.2M | $377.2M | $130.6M | $48.5M | $64.8M | $249.8M |
| Gross profit | $1.15B | $1.21B | $1.16B | $1.41B | $1.11B | $822.0M | $1.08B | $1.08B | $1.00B | $812.7M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $47.0M | — | — | — | — | — | — | $0 | $0 | $0 |
| Total operating expenses | $223.2M | $244.9M | $250.6M | $324.9M | $306.7M | $262.7M | $235.4M | $231.2M | $216.7M | $298.0M |
| Operating income | $928.5M | $968.7M | $902.2M | $1.09B | $801.8M | $559.3M | $848.0M | $844.1M | $784.5M | $514.7M |
| Interest income | $35.6M | $35.6M | $36.9M | $48.1M | $71.4M | $59.6M | $52.7M | $53.0M | $57.0M | $56.7M |
| Interest expense | $34.5M | $35.6M | $36.9M | $48.1M | $71.4M | $59.6M | $52.7M | $53.0M | $57.0M | $56.7M |
| Income before taxes | $928.5M | $968.7M | $902.2M | $1.09B | $801.8M | $559.3M | $848.0M | $844.1M | $784.5M | $514.7M |
| Income taxes | $190.2M | $205.7M | $189.3M | $224.7M | $166.8M | $113.2M | $174.2M | $174.1M | $428.7M | $172.2M |
| Net income | $738.3M | $763.0M | $712.9M | $865.3M | $635.0M | $446.1M | $673.8M | $670.1M | $355.8M | $342.5M |
| EBITDA | $971.1M | $1.02B | $902.2M | $1.19B | $939.2M | $676.7M | $949.4M | $955.4M | $906.0M | $632.7M |
| EPS (diluted) | $3.15 | $2.91 | $2.53 | $2.91 | $1.93 | $1.32 | $1.85 | $1.77 | $1.37 | $0.96 |
| Gross margin | 94.9% | 100.5% | 100.0% | 120.7% | 93.5% | 68.5% | 89.2% | 95.7% | 93.9% | 76.5% |
| Operating margin | 76.5% | 80.2% | 78.1% | 92.9% | 67.6% | 46.6% | 69.9% | 75.1% | 73.6% | 48.4% |
| Net margin | 60.8% | 63.2% | 61.7% | 73.8% | 53.6% | 37.2% | 55.5% | 59.6% | 33.4% | 32.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $295.4M | $297.1M | $298.7M | $304.5M | $304.2M | $306.2M | $301.4M | $306.6M | $305.3M | $294.4M | $284.0M | $296.5M |
| Cost of revenue | $12.3M | $34.5M | $31.2M | $12.8M | −$1.1M | $11.2M | $11.2M | −$7.5M | −$16.1M | $6.6M | −$6.6M | $2.7M |
| Gross profit | $283.1M | $262.6M | $267.4M | $291.7M | $305.3M | $295.0M | $290.3M | $314.2M | $321.4M | $287.8M | $290.6M | $293.8M |
| Sales, general & admin | $44.3M | $46.9M | $47.0M | — | — | — | — | — | — | — | — | — |
| Total operating expenses | $44.3M | $48.1M | $54.7M | $56.7M | $59.3M | $60.3M | $55.6M | $59.9M | $61.6M | $67.9M | $60.7M | $59.4M |
| Operating income | $238.8M | $214.5M | $212.7M | $235.1M | $246.1M | $234.7M | $234.7M | $254.3M | $259.8M | $219.9M | $229.8M | $234.4M |
| Interest income | — | — | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | — | — | — | $9.3M |
| Interest expense | $8.9M | $8.9M | $7.8M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $8.9M | $9.3M |
| Income before taxes | $229.9M | $206.8M | $212.7M | $235.1M | $246.1M | $234.7M | $234.7M | $254.3M | $259.8M | $219.9M | $229.8M | $234.4M |
| Income taxes | $47.8M | $41.5M | $43.4M | $44.0M | $53.6M | $49.2M | $50.0M | $54.3M | $55.6M | $45.8M | $45.3M | $51.6M |
| Net income | $182.1M | $165.3M | $169.3M | $191.1M | $192.5M | $185.5M | $184.7M | $200.0M | $204.2M | $174.1M | $184.5M | $182.8M |
| EBITDA | $240.8M | $214.5M | $222.4M | $244.9M | $257.5M | $246.3M | $247.6M | $266.6M | $273.2M | $235.3M | $245.0M | $253.3M |
| EPS (diluted) | $0.87 | $0.76 | $0.75 | $0.83 | $0.82 | $0.75 | $0.72 | $0.77 | $0.77 | $0.65 | $0.67 | $0.64 |
| Gross margin | 95.8% | 88.4% | 89.5% | 95.8% | 100.4% | 96.3% | 96.3% | 102.5% | 105.3% | 97.8% | 102.3% | 99.1% |
| Operating margin | 80.9% | 72.2% | 71.2% | 77.2% | 80.9% | 76.6% | 77.9% | 82.9% | 85.1% | 74.7% | 80.9% | 79.1% |
| Net margin | 61.7% | 55.6% | 56.7% | 62.8% | 63.3% | 60.6% | 61.3% | 65.2% | 66.9% | 59.1% | 65.0% | 61.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MTG's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MTG financial results
In fiscal year 2025 (ended December 31, 2025), MGIC Investment reported revenue of $1.2 billion, up 0.5% from the year before. It had net income of $738.3 million (down 3.2%), a net profit margin of 60.8%. Diluted earnings per share came to $3.15. Over five years revenue grew at an average rate of 0.2% a year.
See the MTG stock overview for the latest quote and news, or the MTG chart for price history and technical indicators.
MTG income statement FAQ
What is MGIC Investment's annual revenue?
MGIC Investment reported total revenue of $1.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 0.5% from $1.2 billion the previous year.
Is MGIC Investment profitable?
Yes. MGIC Investment reported net income of $738.3 million in fiscal 2025, a net profit margin of 60.8%; its operating margin was 76.5%.
What is MGIC Investment's gross margin?
MGIC Investment's gross margin was 94.9% in fiscal 2025: for every $100 of revenue, MGIC Investment kept $95 after the direct cost of its products and services.
How fast is MGIC Investment growing?
Revenue grew 0.2% a year on average over the last five fiscal years, from $1.2 billion to $1.2 billion.
What are MGIC Investment's earnings per share?
MGIC Investment earned $3.15 per diluted share in fiscal 2025, compared with $2.91 a year earlier.
When will MGIC Investment report its next earnings?
MGIC Investment is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does MGIC Investment's fiscal year end?
MGIC Investment's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.