MGIC Investment Corporation (MTG) Key Metrics
MTG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.71B
- Enterprise value
- $6.45B
- P/E (TTM)
- 8.7 10-yr median 8.1
- Forward P/E
- 8.7
- PEG ratio
- 0.40
- Price / sales
- 4.8 10-yr median 4.3
- Price / book
- 1.2 10-yr median 1.2
- EV / EBITDA
- — 10-yr median 3.0
- Dividend yield
- 2.44% $0.68 a year
- Beta
- 0.67
MTG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMTG valuation Price multiples at each fiscal year-end price.
MTG returns How much profit the business earns on the capital it uses.
MTG per-share figures Results divided by the shares outstanding at year-end.
MTG financial health Debt, liquidity and how easily interest is covered.
MTG efficiency & capital use Working capital cycle and where the cash goes.
MTG valuation history
MTG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MTG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MTG cash returned to shareholders
MTG price vs earnings per share
MTG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $6.60B | $6.26B | $5.54B | $4.05B | $5.07B | $4.51B | $5.30B | $4.04B | $5.57B | $4.40B |
| Enterprise value | $1.08B | $822.8M | $95.6M | −$1.03B | $6.93B | −$1.20B | $231.5M | $4.72B | $6.72B | $6.19B |
| P/E ratio | 8.9 | 8.2 | 7.8 | 4.7 | 8.0 | 10.1 | 7.9 | 6.0 | 15.7 | 12.9 |
| Price / sales | 5.4 | 5.2 | 4.8 | 3.4 | 4.3 | 3.8 | 4.4 | 3.6 | 5.2 | 4.1 |
| Price / book | 1.3 | 1.2 | 1.1 | 0.9 | 0.8 | 1.0 | 1.2 | 1.1 | 1.8 | 1.7 |
| Price / free cash flow | 7.7 | 8.6 | 7.8 | 6.3 | 7.3 | 6.2 | 8.8 | 7.6 | 14.3 | 21.1 |
| Price / operating cash flow | 7.7 | 8.6 | 7.8 | 6.2 | 7.3 | 6.2 | 8.7 | 7.4 | 13.7 | 20.0 |
| EV / sales | 0.9 | 0.7 | 0.1 | -0.9 | 5.8 | -1.0 | 0.2 | 4.2 | 6.3 | 5.8 |
| EV / EBITDA | 1.1 | 0.8 | 0.1 | — | 7.4 | — | 0.2 | 4.9 | 7.4 | 9.8 |
| EV / free cash flow | 1.3 | 1.1 | 0.1 | — | 10.0 | — | 0.4 | 8.9 | 17.2 | 29.6 |
| Earnings yield | 11.2% | 12.2% | 12.9% | 21.4% | 12.5% | 9.9% | 12.7% | 16.6% | 6.4% | 7.8% |
| Free cash flow yield | 12.9% | 11.6% | 12.8% | 16.0% | 13.7% | 16.2% | 11.4% | 13.1% | 7.0% | 4.8% |
| Dividend yield | 2.0% | 2.1% | 2.2% | 2.7% | 1.9% | 1.8% | 0.8% | 1.0% | 0.8% | 1.0% |
| Shareholder yield (dividends + buybacks) | 14.0% | 11.2% | 8.3% | 12.3% | 7.6% | 4.5% | 3.2% | 5.1% | 0.9% | 4.3% |
| Share price at fiscal year-end | $29.22 | $23.71 | $19.29 | $13.00 | $14.42 | $12.55 | $14.17 | $10.46 | $14.11 | $10.19 |
| Per share | ||||||||||
| Revenue per share | $5.38 | $4.57 | $4.02 | $3.77 | $3.38 | $3.34 | $3.25 | $2.91 | $2.70 | $2.46 |
| Earnings per share | $3.27 | $2.89 | $2.48 | $2.78 | $1.81 | $1.24 | $1.80 | $1.74 | $0.90 | $0.79 |
| Operating cash flow per share | $3.78 | $2.75 | $2.48 | $2.09 | $1.98 | $2.04 | $1.63 | $1.41 | $1.03 | $0.51 |
| Free cash flow per share | $3.77 | $2.74 | $2.48 | $2.08 | $1.97 | $2.03 | $1.62 | $1.37 | $0.99 | $0.48 |
| Cash per share | $27.29 | $23.04 | $21.20 | $18.43 | $0.81 | $19.34 | $15.78 | $0.39 | $0.25 | $0.36 |
| Book value per share | $22.80 | $19.59 | $17.66 | $14.92 | $17.59 | $13.08 | $11.52 | $9.28 | $7.99 | $5.90 |
| Tangible book value per share | $22.77 | $19.55 | $17.61 | $14.86 | −$0.65 | −$5.03 | −$3.47 | $9.76 | $8.48 | $6.57 |
| Dividends per share | $0.59 | $0.49 | $0.43 | $0.36 | $0.27 | $0.23 | $0.11 | $0.11 | $0.11 | $0.10 |
| Capex per share | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.04 | $0.04 | $0.02 |
| Debt per share | $2.86 | $2.44 | $2.24 | $2.13 | $6.11 | $3.46 | $2.23 | $2.15 | $3.16 | $4.50 |
| Shares outstanding | 225.7M | 264.0M | 287.2M | 311.2M | 351.3M | 359.3M | 373.9M | 386.1M | 394.8M | 432.0M |
| Change in shares outstanding | −14.5% | −8.1% | −7.7% | −11.4% | −2.2% | −3.9% | −3.1% | −2.2% | −8.6% | −7.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.3% | 14.9% | 14.7% | 16.0% | 11.7% | 9.9% | 17.1% | 19.9% | 12.5% | 14.3% |
| Return on invested capital (ROIC) | — | — | — | — | 18.1% | — | — | 15.6% | 9.1% | 8.1% |
| Return on assets (ROA) | 11.2% | 11.7% | 11.2% | 12.8% | 8.7% | 6.6% | 11.3% | 11.9% | 6.3% | 5.9% |
| Return on tangible assets | 11.1% | 11.7% | 10.9% | 14.0% | 69.2% | 52.7% | 108.5% | 11.4% | 6.1% | 5.7% |
| Free cash flow margin | 70.2% | 59.9% | 61.5% | 55.1% | 58.4% | 60.8% | 49.7% | 47.2% | 36.6% | 19.7% |
| Income quality (OCF / net income) | 1.16 | 0.95 | 1.00 | 0.75 | 1.10 | 1.64 | 0.90 | 0.81 | 1.14 | 0.64 |
| Financial health | ||||||||||
| Total debt | $646.1M | $644.7M | $643.2M | $662.8M | $2.15B | $1.24B | $832.7M | $831.6M | $1.25B | $1.95B |
| Cash & short-term investments | $6.16B | $6.08B | $6.09B | $5.74B | $284.7M | $6.95B | $5.90B | $151.9M | $99.9M | $155.4M |
| Net debt | −$5.51B | −$5.44B | −$5.44B | −$5.07B | $1.86B | −$5.71B | −$5.07B | $679.7M | $1.15B | $1.79B |
| Debt / equity | 0.13 | 0.12 | 0.13 | 0.14 | 0.35 | 0.26 | 0.19 | 0.23 | 0.40 | 0.76 |
| Debt / assets | 0.10 | 0.10 | 0.10 | 0.11 | 0.29 | 0.17 | 0.13 | 0.15 | 0.22 | 0.34 |
| Net debt / EBITDA | −5.68 | −5.32 | −6.03 | −4.26 | 1.98 | −8.43 | −5.34 | 0.71 | 1.27 | 2.83 |
| Current ratio | — | 10.73 | 9.43 | 7.84 | 0.43 | 0.49 | 0.34 | 4.24 | 3.14 | 2.44 |
| Quick ratio | — | 10.73 | 18.76 | 9.17 | 1.35 | 1.50 | 1.66 | 0.12 | 0.05 | 0.07 |
| Interest coverage | 26.9 | 27.2 | 24.4 | 22.7 | 11.2 | 9.4 | 16.1 | 15.9 | 13.8 | 9.1 |
| Working capital | — | $5.67B | $5.59B | $5.15B | −$465.7M | −$401.8M | −$348.7M | $4.10B | $3.50B | $2.89B |
| Invested capital | −$366.5M | −$264.1M | −$371.6M | −$431.5M | $8.04B | −$1.01B | −$757.8M | $4.26B | $4.30B | $4.34B |
| Tangible asset value | $5.14B | $5.16B | $5.06B | $4.62B | −$228.5M | −$1.81B | −$1.30B | $3.77B | $3.35B | $2.84B |
| Net current asset value | −$1.12B | $4.88B | $4.79B | $4.33B | −$795.1M | −$2.27B | −$1.74B | $3.27B | $2.67B | $1.71B |
| Graham number | $40.97 | $35.69 | $31.41 | $30.55 | $26.74 | $19.11 | $21.62 | $19.03 | $12.73 | $10.26 |
| Graham net-net per share | $20.87 | $18.31 | $5.73 | $12.15 | −$3.39 | $11.16 | $9.86 | $1.90 | $0.50 | −$1.43 |
| Capital allocation | ||||||||||
| Dividends paid | $132.5M | $130.5M | $123.0M | $110.9M | $94.2M | $82.1M | $41.9M | $41.9M | $41.9M | $41.9M |
| Share buybacks (net) | $788.6M | $569.5M | $337.2M | $385.6M | $290.8M | $120.0M | $125.8M | $163.4M | $6.8M | $147.1M |
| Dividend payout ratio | 17.9% | 17.1% | 17.2% | 12.8% | 14.8% | 18.4% | 6.2% | 6.3% | 11.8% | 12.2% |
| Dividends + buybacks / free cash flow | 108.1% | 96.7% | 64.7% | 76.8% | 55.6% | 27.7% | 27.8% | 38.7% | 12.5% | 90.4% |
| Capex / revenue | 0.1% | 0.1% | 0.2% | 0.3% | 0.3% | 0.3% | 0.5% | 1.3% | 1.5% | 1.0% |
| Capex / operating cash flow | 0.1% | 0.2% | 0.3% | 0.5% | 0.6% | 0.5% | 0.9% | 2.6% | 4.0% | 4.8% |
| Capex / depreciation | 0.15 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.12 | 0.24 | 0.25 | 0.17 |
| Stock-based compensation / revenue | 2.0% | 2.6% | 2.7% | 2.1% | −0.6% | −1.1% | −0.5% | 1.9% | 1.4% | 1.1% |
| SG&A / revenue | 3.9% | — | — | — | — | — | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 34.3 | 49.9 | 50.6 | 35.2 | 33.7 | 35.1 | 25.6 | 22.7 | 16.9 | 16.3 |
| Days of inventory on hand | — | — | -5,810.1 | 1,327.4 | -3,667.6 | -724.8 | 6,310.5 | 38,632.8 | 27,586.7 | 6,914.7 |
| Days payables outstanding | — | — | — | — | — | 167.3 | 644.3 | 2,342.3 | 1,040.6 | 0.0 |
| Cash conversion cycle (days) | — | — | — | — | — | -857.0 | 5,691.8 | 36,313.2 | 26,563.0 | 6,931.0 |
| Receivables turnover | 10.63 | 7.31 | 7.22 | 10.36 | 10.84 | 10.40 | 14.27 | 16.07 | 21.54 | 22.37 |
| Payables turnover | — | — | — | — | — | 2.18 | 0.57 | 0.16 | 0.35 | — |
| Inventory turnover | — | — | — | — | — | — | — | 0.01 | 0.01 | 0.05 |
| Asset turnover | 0.18 | 0.18 | 0.18 | 0.17 | 0.16 | 0.18 | 0.20 | 0.20 | 0.19 | 0.18 |
| Average receivables | $114.1M | $165.3M | $160.0M | $113.2M | $109.3M | $115.3M | $85.1M | $69.9M | $49.5M | $47.5M |
| Average payables | — | — | — | — | — | $172.8M | $230.5M | $311.2M | $184.8M | $0 |
| Average inventory | — | — | −$3.60B | −$880.8M | −$775.5M | −$749.0M | $2.26B | $5.13B | $4.90B | $4.73B |
| Intangibles / total assets | 0.1% | 0.2% | 0.2% | 0.3% | 87.5% | 88.5% | 90.0% | −3.3% | −3.4% | −5.1% |
Computed from MTG's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MTG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), MGIC Investment traded at 8.9 times earnings, against a 10-year median of 8.1. Based on the latest twelve months, the trailing P/E is 8.7 and the forward P/E is 8.7. MGIC Investment earned a return on equity of 14.3% in fiscal 2025. It ended the year with $646.1 million of debt and $6.2 billion in cash and short-term investments, a net cash position of $5.5 billion. It returned $921.1 million to shareholders: $132.5 million in dividends and $788.6 million in share buybacks, 108% of free cash flow. The share count fell 47.7% from 432.0M to 225.7M over 9 years.
See the MTG income statement, the MTG chart for price history, or the MTG stock overview for the latest quote and news.
MTG key metrics FAQ
What is MGIC Investment's P/E ratio?
MGIC Investment's trailing P/E ratio is 8.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 8.7. At the end of fiscal 2025 it was 8.9, compared with a 10-year median of 8.1.
What is MGIC Investment's EV/EBITDA?
MGIC Investment's enterprise value was 1.1 times EBITDA at the end of fiscal 2025 (enterprise value $1.1 billion, EBITDA $971.1 million).
What is MGIC Investment's return on equity?
MGIC Investment's return on equity (ROE) was 14.3% in fiscal 2025: net income of $738.3 million on average shareholders' equity of $5.2 billion.
How much debt does MGIC Investment have?
MGIC Investment had total debt of $646.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.13 and more cash than debt.
What is MGIC Investment's dividend yield?
MGIC Investment's forward dividend yield is 2.44%. MGIC Investment paid $132.5 million in dividends in fiscal 2025 ($0.59 per share), a payout ratio of 17.9%.
Does MGIC Investment buy back its shares?
Yes. MGIC Investment spent $788.6 million on net share repurchases in fiscal 2025 Shares outstanding changed −14.5% over the year, to 225.7M..
What is MGIC Investment's free cash flow yield?
MGIC Investment generated $851.8 million of free cash flow in fiscal 2025, a free cash flow yield of 12.9% on its market value at year-end ($6.6 billion).