NYSE$MTG

MGIC Investment Corporation · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

MGIC Investment reported Q4 2025, revenue of $298.7M, net income of $169.3M, diluted EPS of $0.78.

For Q4 2025, MGIC Investment reported revenue of $298.7M, net income of $169.3M, diluted EPS was $0.78. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $298.7M.
  • Net income $169.3M.
  • Diluted EPS $0.78.

Headline financials

Total Revenue

$299M

Previous: $301M-0.9%
EPS (adj)

$0.78

Previous: $0.72+8.3%
Net Premiums Earned

$236M

Previous: $241M-2.2%
Net Investment Income

$61.6M

Previous: $61.3M+0.5%
New Insurance Written (NIW)

$17.1B

Previous: $15.9B+7.5%
Insurance In Force (IIF)

$303B

Previous: $295B+2.6%
Annual Persistency

84.8%

Previous: 84.8%+0.0%
Losses Incurred, Net

$31.2M

Previous: $8.7M+258.9%
Primary Delinquency Inventory

27.1K

Previous: 26.8K+1.0%
Primary IIF Delinquency Rate

2.4%

Previous: 2.4%+1.3%
Loss Ratio

13.2%

Previous: 3.6%+266.7%
Underwriting Expense Ratio

19.9%

Previous: 20.8%-4.3%
In Force Portfolio Yield (bps)

38

Previous: 38.6-1.6%
Net Premium Yield (bps)

31.2

Previous: 32.9-5.2%
Annualized Return on Equity

13.1%

Previous: 14.0%-6.4%
Book Value Per Common Share Outstanding

$23.47

Previous: $20.82+12.7%
Tangible Book Value Per Share

$24.08

Previous: $21.98+9.6%
PMIERs Available Assets

$5.7B

Previous: $5.8B-1.7%
PMIERs Excess

$2.5B

Previous: $2.2B+13.6%
Holding Company Liquidity (millions)

$1.07B

Previous: $1.08B-0.2%
Primary Risk In Force (RIF)

$81.2B

Previous: $78.8B+3.0%
Average Coverage Ratio (RIF/IIF)

26.8%

Previous: 26.7%+0.4%
Net Income

$169M

Previous: $185M-8.3%
Operating Income

$212M

Previous: $235M-9.9%

Revenue & EPS history

MGIC · Revenue · Quarterly

$299M

Q4 2025-0.9%vs Q4 2024
Beat estimate in 1 of 15 quarters(7%)
ActualEstimate

Forward guidance

The release discusses MGIC Investment's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • MGIC Investment cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.2%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+3.3%

Avg return

30 days after

54%

37 / 68 earnings

Positive

+35.4%

Q4 2012

Best reaction

-65.7%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-9.0%-9.9%-13.5%
Q4 2025-5.2%-0.9%-2.8%
Q3 2025+0.8%+2.5%+8.2%
Q1 2025+1.6%+4.4%+6.2%
Q4 2024+1.8%+0.5%-6.0%
Q3 2024+1.2%+3.8%+8.8%
Q2 2024-1.0%-5.5%+2.7%
Q1 2024+1.1%+3.3%+3.6%
Q4 2023-1.2%-4.8%-2.0%
Q3 2023+1.4%+6.3%+5.4%
Q2 2023+5.3%+7.9%+6.0%
Q1 2023-1.4%+1.3%+6.8%
Q4 2022+1.2%-2.4%-1.5%
Q3 2022-1.8%-1.2%-2.5%
Q2 2022+3.5%+3.5%-0.3%
Q1 2022-0.5%-3.8%+1.8%
Q4 2021-0.7%+1.3%-4.7%
Q3 2021-6.8%-4.3%-14.0%
Q2 2021+1.8%+3.8%+10.6%
Q1 2021-8.1%-8.0%-4.5%
Q4 2020+1.7%-3.7%+1.3%
Q3 2020-4.0%+3.7%+16.7%
Q2 2020+1.7%+3.4%+12.1%
Q1 2020+5.9%+0.0%+45.5%
Q4 2019+3.0%+1.1%-9.4%
Q3 2019+2.8%+3.0%+2.5%
Q2 2019+3.2%-3.0%-5.1%
Q1 2019+3.6%+5.3%-0.9%
Q4 2018+2.0%+1.0%+13.6%
Q3 2018-0.9%-2.8%-4.8%
Q2 2018+9.7%+10.7%+11.1%
Q1 2018-3.9%-4.2%-0.7%
Q4 2017+3.2%+4.0%-5.3%
Q3 2017+5.4%+4.5%+9.8%
Q2 2017+0.6%-1.4%-4.4%
Q1 2017-1.6%-0.5%-3.0%
Q4 2016+2.1%+1.0%+4.4%
Q3 2016+6.7%+7.3%+13.7%
Q2 2016+7.2%+8.5%+23.4%
Q1 2016-4.5%
Q4 2015-13.7%
Q3 2015+2.2%
Q2 2015-2.4%
Q1 2015+2.1%
Q4 2014+0.6%
Q3 2014+6.0%
Q2 2014-7.2%
Q1 2014+6.4%
Q4 2013-7.6%
Q3 2013+12.9%
Q2 2013+12.3%
Q1 2013-6.6%
Q4 2012+35.4%
Q3 2012-3.0%
Q2 2012-65.7%
Q1 2012+2.6%
Q4 2011-2.0%
Q3 2011-11.0%
Q2 2011+9.0%
Q1 2010+1.6%
Q1 2011+1.4%
Q4 2008-3.4%
Q4 2010-3.4%
Q3 2010-2.4%
Q3 2009-2.4%
Q4 2009-1.6%
Q2 2010-1.6%
Q2 2009-1.6%

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