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Side-by-side financial comparison of MGIC INVESTMENT CORP (MTG) and RADIAN GROUP INC (RDN). Click either name above to swap in a different company.
MGIC INVESTMENT CORP is the larger business by last-quarter revenue ($298.7M vs $257.8M, roughly 1.2× RADIAN GROUP INC). RADIAN GROUP INC runs the higher net margin — 60.1% vs 56.7%, a 3.4% gap on every dollar of revenue. On growth, MGIC INVESTMENT CORP posted the faster year-over-year revenue change (-0.9% vs -18.4%). RADIAN GROUP INC produced more free cash flow last quarter ($406.1M vs $230.2M). Over the past eight quarters, MGIC INVESTMENT CORP's revenue compounded faster (0.7% CAGR vs -10.2%).
MGIC Investment Corporation NYSE: MTG ("MGIC") is a provider of private mortgage insurance in the United States. The company is headquartered in Milwaukee, Wisconsin.
Radian Group Inc. is a mortgage insurance company with a suite of mortgage, risk, real estate, and title services.
MTG vs RDN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $298.7M | $257.8M |
| Net Profit | $169.3M | $154.8M |
| Gross Margin | — | — |
| Operating Margin | 71.2% | 88.9% |
| Net Margin | 56.7% | 60.1% |
| Revenue YoY | -0.9% | -18.4% |
| Net Profit YoY | -8.3% | 4.4% |
| EPS (diluted) | $0.75 | $1.11 |
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.
| Q4 25 | $298.7M | $257.8M | ||
| Q3 25 | $304.5M | $303.2M | ||
| Q2 25 | $304.2M | $318.0M | ||
| Q1 25 | $306.2M | $318.1M | ||
| Q4 24 | $301.4M | $315.9M | ||
| Q3 24 | $306.6M | $333.9M | ||
| Q2 24 | $305.3M | $321.1M | ||
| Q1 24 | $294.4M | $319.4M |
| Q4 25 | $169.3M | $154.8M | ||
| Q3 25 | $191.1M | $141.4M | ||
| Q2 25 | $192.5M | $141.8M | ||
| Q1 25 | $185.5M | $144.6M | ||
| Q4 24 | $184.7M | $148.3M | ||
| Q3 24 | $200.0M | $151.9M | ||
| Q2 24 | $204.2M | $151.9M | ||
| Q1 24 | $174.1M | $152.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 97.4% | ||
| Q1 25 | — | 97.2% | ||
| Q4 24 | — | 96.9% | ||
| Q3 24 | — | 97.1% | ||
| Q2 24 | — | 97.0% | ||
| Q1 24 | — | 97.1% |
| Q4 25 | 71.2% | 88.9% | ||
| Q3 25 | 77.2% | 65.5% | ||
| Q2 25 | 80.9% | 55.0% | ||
| Q1 25 | 76.6% | 59.2% | ||
| Q4 24 | 77.9% | 59.9% | ||
| Q3 24 | 82.9% | 58.5% | ||
| Q2 24 | 85.1% | 58.6% | ||
| Q1 24 | 74.7% | 62.2% |
| Q4 25 | 56.7% | 60.1% | ||
| Q3 25 | 62.8% | 46.7% | ||
| Q2 25 | 63.3% | 44.6% | ||
| Q1 25 | 60.6% | 45.4% | ||
| Q4 24 | 61.3% | 46.9% | ||
| Q3 24 | 65.2% | 45.5% | ||
| Q2 24 | 66.9% | 47.3% | ||
| Q1 24 | 59.1% | 47.7% |
| Q4 25 | $0.75 | $1.11 | ||
| Q3 25 | $0.83 | $1.03 | ||
| Q2 25 | $0.81 | $1.02 | ||
| Q1 25 | $0.75 | $0.98 | ||
| Q4 24 | $0.71 | $0.97 | ||
| Q3 24 | $0.77 | $0.99 | ||
| Q2 24 | $0.77 | $0.98 | ||
| Q1 24 | $0.64 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $369.0M | $24.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.1B | $4.8B |
| Total Assets | $6.6B | $8.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $369.0M | $24.8M | ||
| Q3 25 | $266.9M | $15.3M | ||
| Q2 25 | $294.9M | $22.1M | ||
| Q1 25 | $207.0M | $24.2M | ||
| Q4 24 | $229.5M | $38.8M | ||
| Q3 24 | $288.6M | $28.1M | ||
| Q2 24 | $281.8M | $13.8M | ||
| Q1 24 | $431.3M | $27.0M |
| Q4 25 | $5.1B | $4.8B | ||
| Q3 25 | $5.2B | $4.7B | ||
| Q2 25 | $5.2B | $4.5B | ||
| Q1 25 | $5.1B | $4.6B | ||
| Q4 24 | $5.2B | $4.6B | ||
| Q3 24 | $5.3B | $4.7B | ||
| Q2 24 | $5.1B | $4.5B | ||
| Q1 24 | $5.1B | $4.4B |
| Q4 25 | $6.6B | $8.1B | ||
| Q3 25 | $6.6B | $8.2B | ||
| Q2 25 | $6.5B | $9.6B | ||
| Q1 25 | $6.5B | $8.8B | ||
| Q4 24 | $6.5B | $8.7B | ||
| Q3 24 | $6.7B | $8.4B | ||
| Q2 24 | $6.5B | $8.1B | ||
| Q1 24 | $6.5B | $7.8B |
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 | $230.8M | $407.0M |
| Free Cash FlowOCF − Capex | $230.2M | $406.1M |
| FCF MarginFCF / Revenue | 77.1% | 157.5% |
| Capex IntensityCapex / Revenue | 0.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.36× | 2.63× |
| TTM Free Cash FlowTrailing 4 quarters | $851.8M | $115.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.8M | $407.0M | ||
| Q3 25 | $215.4M | $358.4M | ||
| Q2 25 | $183.0M | $-713.3M | ||
| Q1 25 | $223.7M | $67.8M | ||
| Q4 24 | $182.4M | $-269.4M | ||
| Q3 24 | $182.9M | $-237.9M | ||
| Q2 24 | $169.2M | $-207.3M | ||
| Q1 24 | $190.5M | $51.0M |
| Q4 25 | $230.2M | $406.1M | ||
| Q3 25 | $215.1M | $357.6M | ||
| Q2 25 | $183.0M | $-714.6M | ||
| Q1 25 | $223.5M | $66.6M | ||
| Q4 24 | $181.9M | $-269.8M | ||
| Q3 24 | $182.5M | $-238.1M | ||
| Q2 24 | $169.0M | $-208.3M | ||
| Q1 24 | — | $49.5M |
| Q4 25 | 77.1% | 157.5% | ||
| Q3 25 | 70.6% | 117.9% | ||
| Q2 25 | 60.1% | -224.7% | ||
| Q1 25 | 73.0% | 20.9% | ||
| Q4 24 | 60.3% | -85.4% | ||
| Q3 24 | 59.5% | -71.3% | ||
| Q2 24 | 55.3% | -64.9% | ||
| Q1 24 | — | 15.5% |
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 0.1% | 0.3% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.2% | 0.1% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 0.0% | 0.5% |
| Q4 25 | 1.36× | 2.63× | ||
| Q3 25 | 1.13× | 2.53× | ||
| Q2 25 | 0.95× | -5.03× | ||
| Q1 25 | 1.21× | 0.47× | ||
| Q4 24 | 0.99× | -1.82× | ||
| Q3 24 | 0.91× | -1.57× | ||
| Q2 24 | 0.83× | -1.36× | ||
| Q1 24 | 1.09× | 0.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
