MGIC INVESTMENT CORP
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MTG Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Direct Premiums Written | 286,522 | 276,471 | +3.6% |
| Assumed Premiums Written | 3,965 | 3,538 | +12.1% |
| Ceded Premiums Written | -55,544 | -44,663 | -24.4% |
| Premiums Written Net | 234,943 | 235,346 | -0.2% |
| Increase Decrease In Unearned Premiums Net | 420 | 8,373 | -95.0% |
| Premiums Earned Net | 235,363 | 243,719 | -3.4% |
| Net Investment Income | 61,742 | 61,443 | +0.5% |
| Net Gains Losses On Investments And Other Financial Instruments | -169 | 741 | -122.8% |
| Other Income | 141 | 331 | -57.4% |
| Revenue | 297,077 | 306,234 | -3.0% |
| Policyholder Benefits And Claims Incurred Net | 33,242 | 9,591 | +246.6% |
| Deferred Policy Acquisition Cost Amortization Expense | 1,224 | 1,657 | -26.1% |
| Other Underwriting Expense | 46,884 | 51,406 | -8.8% |
Show Business Segments breakouts |
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| Mortgage Insurance Segment | 46,884 | 51,406 | -8.8% |
| Interest Expense Debt | 8,899 | 8,899 | 0.0% |
| Benefits Losses And Expenses | 90,249 | 71,553 | +26.1% |
| Income Before Taxes | 206,828 | 234,681 | -11.9% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -190 | -58 | -227.6% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -98 | -5,981 | +98.4% |
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts |
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| Reclassification Out Of Accumulated Other Comprehensive Income | -288 | -6,039 | +95.2% |
| Income Tax Expense (Benefit) | 41,525 | 49,221 | -15.6% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -40 | -12 | -233.3% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -21 | -1,256 | +98.3% |
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts |
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| Reclassification Out Of Accumulated Other Comprehensive Income | -61 | -1,268 | +95.2% |
| Net Income | 165,303 | 185,460 | -10.9% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -150 | -46 | -226.1% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -77 | -4,725 | +98.4% |
| Retained Earnings | 165,303 | 185,460 | -10.9% |
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts |
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| Reclassification Out Of Accumulated Other Comprehensive Income | -227 | -4,771 | +95.2% |
| EPS (Basic) | 0.76 | 0.76 | 0.0% |
| EPS (Diluted) | 0.76 | 0.75 | +1.3% |
| Wtd Avg Shares (Basic) | 216,135 | 244,147 | -11.5% |
| Wtd Avg Shares (Diluted) | 218,186 | 246,490 | -11.5% |
| Comprehensive Income | 132,215 | 237,177 | -44.3% |
| Other Comprehensive Income | -33,088 | 51,717 | -164.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | 150 | 46 | +226.1% |
| Accumulated Net Unrealized Investment Gain Loss | -33,238 | 51,671 | -164.3% |
| Accumulated Other Comprehensive Income | -33,088 | 51,717 | -164.0% |
| Net Income Loss Available To Common Stockholders Basic | 165,303 | 185,460 | -10.9% |
| Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1 | 33,242 | 9,591 | +246.6% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 235,090 | 206,988 | +13.6% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 31,947 | 34,468 | -7.3% |
| Deferred Tax Assets | 15,494 | 46,196 | -66.5% |
| Total Assets | 6,416,749 | 6,535,136 | -1.8% |
Show Legal Entity breakouts |
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| Home Re 2021-2, Ltd. | 74,244 | 124,487 | -40.4% |
| Home Re 2022-1, Ltd. | 196,027 | 290,274 | -32.5% |
| Home Re 2023-1, Ltd. | 221,144 | 290,619 | -23.9% |
| Home Re 2026-1, Ltd. | 323,504 | — | — |
| Other Assets | |||
| Equity Securities Fv Ni | 15,191 | 14,915 | +1.9% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 15,191 | 14,915 | +1.9% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 15,191 | 14,915 | +1.9% |
| Other Investments | 1,109 | 1,109 | 0.0% |
| Investments | 5,719,421 | 5,901,057 | -3.1% |
| Restricted Cash And Cash Equivalents | 14,405 | 5,705 | +152.5% |
| Accrued Investment Income Receivable | 57,256 | 58,768 | -2.6% |
| Reinsurance Recoverable For Unpaid Claims And Claims Adjustments | 73,184 | 51,864 | +41.1% |
Show Ceded Credit Risk breakouts |
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| Quota Share Reinsurance Transactions | 73.2 | 51.9 | +41.0% |
| Reinsurance Recoverables On Paid Losses | 3,897 | 1,847 | +111.0% |
| Premiums Receivable At Carrying Value | 68,143 | 56,273 | +21.1% |
| Deferred Policy Acquisition Costs | 7,955 | 11,114 | -28.4% |
| Other Assets | 189,957 | 160,856 | +18.1% |
| Non-Current Liabilities | |||
| Total Liabilities | 1,379,462 | 1,395,252 | -1.1% |
| Long-Term Debt (Q) | — | — | — |
Show Debt Instrument breakouts |
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| 5.25% Senior Notes Due 2028 · Senior Notes | 646,506 | 645,035 | +0.2% |
| Other Liabilities | |||
| Available For Sale Securities Debt Securities | 5,703,121 | 5,885,033 | -3.1% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Fair Value Measurements Recurring | 198,760 | 238,854 | -16.8% |
| Fair Value Inputs Level1 · US Treasury And Government | 198,760 | 238,854 | -16.8% |
| Fair Value Inputs Level2 · Asset Backed Securities | 262,641 | 182,391 | +44.0% |
| Fair Value Inputs Level2 · Collateralized Loan Obligations | 131,221 | 146,581 | -10.5% |
| Fair Value Inputs Level2 · Commercial Mortgage Backed Securities | 258,917 | 258,945 | -0.0% |
| Fair Value Inputs Level2 · Commercial Paper | 9,398 | 15,071 | -37.6% |
| Fair Value Inputs Level2 · Corporate Debt Securities | 2,680,137 | 2,782,767 | -3.7% |
| Fair Value Inputs Level2 · Fair Value Measurements Recurring | 5,504,361 | 5,646,179 | -2.5% |
| Fair Value Inputs Level2 · Foreign Government Debt Securities | 4,059 | 3,900 | +4.1% |
| Fair Value Inputs Level2 · Residential Mortgage Backed Securities | 350,710 | 357,989 | -2.0% |
| Fair Value Inputs Level2 · US States And Political Subdivisions | 1,772,408 | 1,865,695 | -5.0% |
| Fair Value Inputs Level2 · US Treasury And Government | 34,870 | 32,840 | +6.2% |
Show Financial Instrument breakouts |
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| Asset Backed Securities | 262,641 | 182,391 | +44.0% |
| Asset Backed Securities · Fair Value Measurements Recurring | 262,641 | 182,391 | +44.0% |
| Collateralized Loan Obligations | 131,221 | 146,581 | -10.5% |
| Collateralized Loan Obligations · Fair Value Measurements Recurring | 131,221 | 146,581 | -10.5% |
| Commercial Mortgage Backed Securities | 258,917 | 258,945 | -0.0% |
| Commercial Mortgage Backed Securities · Fair Value Measurements Recurring | 258,917 | 258,945 | -0.0% |
| Commercial Paper | 9,398 | 15,071 | -37.6% |
| Commercial Paper · Fair Value Measurements Recurring | 9,398 | 15,071 | -37.6% |
| Corporate Debt Securities | 2,680,137 | 2,782,767 | -3.7% |
| Corporate Debt Securities · Fair Value Measurements Recurring | 2,680,137 | 2,782,767 | -3.7% |
| Fixed Maturities | 5,482,530 | 5,542,864 | -1.1% |
| Foreign Government Debt Securities | 4,059 | 3,900 | +4.1% |
| Foreign Government Debt Securities · Fair Value Measurements Recurring | 4,059 | 3,900 | +4.1% |
| Residential Mortgage Backed Securities | 350,710 | 357,989 | -2.0% |
| Residential Mortgage Backed Securities · Fair Value Measurements Recurring | 350,710 | 357,989 | -2.0% |
| Short Term Investments | 220,591 | 342,169 | -35.5% |
| US States And Political Subdivisions | 1,772,408 | 1,865,695 | -5.0% |
| US States And Political Subdivisions · Fair Value Measurements Recurring | 1,772,408 | 1,865,695 | -5.0% |
| US Treasury And Government | 233,630 | 271,694 | -14.0% |
| US Treasury And Government · Fair Value Measurements Recurring | 233,630 | 271,694 | -14.0% |
Show Fair Value By Measurement Frequency breakouts |
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| Fair Value Measurements Recurring | 5,703,121 | 5,885,033 | -3.1% |
| Liability For Claims And Claims Adjustment Expense | 499,120 | 465,033 | +7.3% |
| Unearned Premiums | 92,606 | 111,987 | -17.3% |
| Senior Notes | 646,506 | 645,035 | +0.2% |
| Transferrable Federal Tax Credit Payable | 16,110 | — | — |
| Other Liabilities | 125,120 | 173,197 | -27.8% |
| Stockholders' Equity | |||
| Common Stock | 213,200 | 240,194 | -11.2% |
| Additional Paid In Capital Common Stock | 1,795,697 | 1,796,475 | -0.0% |
| Accumulated Other Comprehensive Income | -167,482 | -236,445 | +29.2% |
| Retained Earnings | 3,195,872 | 3,339,660 | -4.3% |
| Total Stockholders' Equity | 5,037,287 | 5,139,884 | -2.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -13,558 | -30,238 | +55.2% |
| Accumulated Net Unrealized Investment Gain Loss | -153,924 | -206,207 | +25.4% |
| Accumulated Other Comprehensive Income | -167,482 | -236,445 | +29.2% |
| Additional Paid In Capital | 1,795,697 | 1,796,475 | -0.0% |
| Common Stock | 213,200 | 240,194 | -11.2% |
| Retained Earnings | 3,195,872 | 3,339,660 | -4.3% |
| Total Liabilities & Equity | 6,416,749 | 6,535,136 | -1.8% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation Amortization And Accretion Net | -84 | 2,694 | -103.1% |
| Deferred Income Taxes | 7,367 | 9,932 | -25.8% |
| Stock-Based Compensation | 6,431 | 8,087 | -20.5% |
| Increase Decrease In Accrued Investment Income Receivable | 753 | 2,296 | -67.2% |
| Increase Decrease In Reinsurance Recoverable | -8,129 | -4,583 | -77.4% |
| Increase Decrease In Reinsurance Recoverable On Paid Losses | 489 | 2,350 | -79.2% |
| Increase Decrease In Premiums Receivable | -9,959 | 1,263 | -888.5% |
| Increase Decrease In Deferred Policy Acquisition Costs | 422 | 580 | -27.2% |
| Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve | 24,236 | 2,371 | +922.2% |
Show Noncatastrophic Event breakouts |
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| $1,000 Increase/Decrease In Average Severity Reserve Factor | 7 | — | — |
| One Percentage Point Increase/Decrease In Average Claim Rate Reserve Factor | 20 | — | — |
| Increase Decrease In Unearned Premiums | -420 | -8,373 | +95.0% |
| Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable | -80,619 | 61,087 | -232.0% |
| Increase Decrease In Other Operating Capital Net | -29,057 | -38,769 | +25.1% |
| Net Cash from Operations | 76,902 | 223,654 | -65.6% |
| Investing Activities | |||
| Payments To Acquire Investments | -430,297 | -455,780 | +5.6% |
| Proceeds From Sale Maturity And Collections Of Investments | 1,040 | 20,737 | -95.0% |
| Proceeds From Maturity Of Fixed Income Securities | 476,227 | 467,543 | +1.9% |
| Capital Expenditures | -184 | -125 | -47.2% |
| Net Cash from Investing | 46,786 | 32,375 | +44.5% |
| Financing Activities | |||
| Share Repurchases | -192,368 | -225,176 | +14.6% |
| Payments Of Dividends Common Stock | -35,184 | -33,919 | -3.7% |
| Tax Withholding for Share Compensation | -22,155 | -18,868 | -17.4% |
| Net Cash from Financing | -249,707 | -277,963 | +10.2% |
| Other Cash Flow | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | -126,019 | -21,934 | -474.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 249,495 | 212,693 | +17.3% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.