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Side-by-side financial comparison of H2O AMERICA (HTO) and MGIC INVESTMENT CORP (MTG). Click either name above to swap in a different company.
MGIC INVESTMENT CORP is the larger business by last-quarter revenue ($297.1M vs $199.4M, roughly 1.5× H2O AMERICA). MGIC INVESTMENT CORP runs the higher net margin — 55.6% vs 8.1%, a 47.5% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -3.0%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -1.4%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
MGIC Investment Corporation NYSE: MTG ("MGIC") is a provider of private mortgage insurance in the United States. The company is headquartered in Milwaukee, Wisconsin.
HTO vs MTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $297.1M |
| Net Profit | $16.2M | $165.3M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | — |
| Net Margin | 8.1% | 55.6% |
| Revenue YoY | 1.5% | -3.0% |
| Net Profit YoY | -29.2% | -10.9% |
| EPS (diluted) | $0.45 | $0.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $297.1M | ||
| Q4 25 | $199.4M | $298.7M | ||
| Q3 25 | $243.5M | $304.5M | ||
| Q2 25 | $197.8M | $304.2M | ||
| Q1 25 | $164.9M | $306.2M | ||
| Q4 24 | $196.5M | $301.4M | ||
| Q3 24 | $216.7M | $306.6M | ||
| Q2 24 | $173.1M | $305.3M |
| Q1 26 | — | $165.3M | ||
| Q4 25 | $16.2M | $169.3M | ||
| Q3 25 | $45.1M | $191.1M | ||
| Q2 25 | $24.7M | $192.5M | ||
| Q1 25 | $16.6M | $185.5M | ||
| Q4 24 | $22.9M | $184.7M | ||
| Q3 24 | $38.7M | $200.0M | ||
| Q2 24 | $20.7M | $204.2M |
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 71.2% | ||
| Q3 25 | 26.5% | 77.2% | ||
| Q2 25 | 22.2% | 80.9% | ||
| Q1 25 | 21.8% | 76.6% | ||
| Q4 24 | 22.2% | 77.9% | ||
| Q3 24 | 26.9% | 82.9% | ||
| Q2 24 | 23.4% | 85.1% |
| Q1 26 | — | 55.6% | ||
| Q4 25 | 8.1% | 56.7% | ||
| Q3 25 | 18.5% | 62.8% | ||
| Q2 25 | 12.5% | 63.3% | ||
| Q1 25 | 10.0% | 60.6% | ||
| Q4 24 | 11.7% | 61.3% | ||
| Q3 24 | 17.8% | 65.2% | ||
| Q2 24 | 12.0% | 66.9% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $0.45 | $0.75 | ||
| Q3 25 | $1.27 | $0.83 | ||
| Q2 25 | $0.71 | $0.81 | ||
| Q1 25 | $0.49 | $0.75 | ||
| Q4 24 | $0.70 | $0.71 | ||
| Q3 24 | $1.17 | $0.77 | ||
| Q2 24 | $0.64 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $235.1M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $5.0B |
| Total Assets | $5.1B | $6.4B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $235.1M | ||
| Q4 25 | $20.7M | $369.0M | ||
| Q3 25 | $11.3M | $266.9M | ||
| Q2 25 | $19.8M | $294.9M | ||
| Q1 25 | $23.7M | $207.0M | ||
| Q4 24 | $11.1M | $229.5M | ||
| Q3 24 | $4.0M | $288.6M | ||
| Q2 24 | $22.8M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $1.5B | $5.1B | ||
| Q3 25 | $1.5B | $5.2B | ||
| Q2 25 | $1.5B | $5.2B | ||
| Q1 25 | $1.4B | $5.1B | ||
| Q4 24 | $1.4B | $5.2B | ||
| Q3 24 | $1.3B | $5.3B | ||
| Q2 24 | $1.3B | $5.1B |
| Q1 26 | — | $6.4B | ||
| Q4 25 | $5.1B | $6.6B | ||
| Q3 25 | $5.0B | $6.6B | ||
| Q2 25 | $4.8B | $6.5B | ||
| Q1 25 | $4.7B | $6.5B | ||
| Q4 24 | $4.7B | $6.5B | ||
| Q3 24 | $4.6B | $6.7B | ||
| Q2 24 | $4.4B | $6.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $230.8M | ||
| Q3 25 | $77.3M | $215.4M | ||
| Q2 25 | $60.8M | $183.0M | ||
| Q1 25 | $43.2M | $223.7M | ||
| Q4 24 | $41.5M | $182.4M | ||
| Q3 24 | $53.5M | $182.9M | ||
| Q2 24 | $49.3M | $169.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $230.2M | ||
| Q3 25 | — | $215.1M | ||
| Q2 25 | — | $183.0M | ||
| Q1 25 | — | $223.5M | ||
| Q4 24 | — | $181.9M | ||
| Q3 24 | — | $182.5M | ||
| Q2 24 | — | $169.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 77.1% | ||
| Q3 25 | — | 70.6% | ||
| Q2 25 | — | 60.1% | ||
| Q1 25 | — | 73.0% | ||
| Q4 24 | — | 60.3% | ||
| Q3 24 | — | 59.5% | ||
| Q2 24 | — | 55.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 1.36× | ||
| Q3 25 | 1.71× | 1.13× | ||
| Q2 25 | 2.47× | 0.95× | ||
| Q1 25 | 2.61× | 1.21× | ||
| Q4 24 | 1.81× | 0.99× | ||
| Q3 24 | 1.39× | 0.91× | ||
| Q2 24 | 2.38× | 0.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
MTG
Segment breakdown not available.
