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MGIC INVESTMENT CORP（MTG）与RADIAN GROUP INC（RDN）财务数据对比。点击上方公司名可切换其他公司
MGIC INVESTMENT CORP的季度营收约是RADIAN GROUP INC的1.2倍（$298.7M vs $257.8M）。RADIAN GROUP INC净利率更高（60.1% vs 56.7%，领先3.4%）。MGIC INVESTMENT CORP同比增速更快（-0.9% vs -18.4%）。RADIAN GROUP INC自由现金流更多（$406.1M vs $230.2M）。过去两年MGIC INVESTMENT CORP的营收复合增速更高（0.7% vs -10.2%）
MGIC投资集团（纽交所代码：MTG）是美国专业的私人抵押贷款保险服务商，总部位于威斯康星州密尔沃基市，主要为美国本土住房抵押贷款业务提供保险解决方案，帮助贷款机构管控信用风险，助力普通消费者顺利获得购房贷款支持。
瑞迪安集团（Radian Group Inc.）是一家专业的 mortgage 保险公司，业务涵盖抵押贷款保险、风险管控、房地产服务及产权服务等多个板块，为住房金融市场提供完善的配套服务支持，助力行业降低信贷相关风险。
MTG vs RDN — 直观对比
营收规模更大
MTG
是对方的1.2倍
$257.8M
营收增速更快
MTG
高出17.5%
-18.4%
净利率更高
RDN
高出3.4%
56.7%
自由现金流更多
RDN
多$176.0M
$230.2M
两年增速更快
MTG
近两年复合增速
-10.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $298.7M | $257.8M |
| 净利润 | $169.3M | $154.8M |
| 毛利率 | — | — |
| 营业利润率 | 71.2% | 88.9% |
| 净利率 | 56.7% | 60.1% |
| 营收同比 | -0.9% | -18.4% |
| 净利润同比 | -8.3% | 4.4% |
| 每股收益（稀释后） | $0.75 | $1.11 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MTGRDN
| 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 |
净利润MTGRDN
| 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 |
毛利率MTGRDN
| 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% |
营业利润率MTGRDN
| 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% |
净利率MTGRDN
| 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% |
每股收益（稀释后）MTGRDN
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $369.0M | $24.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.1B | $4.8B |
| 总资产 | $6.6B | $8.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MTGRDN
| 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 |
股东权益MTGRDN
| 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 |
总资产MTGRDN
| 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 |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $230.8M | $407.0M |
| 自由现金流经营现金流 - 资本支出 | $230.2M | $406.1M |
| 自由现金流率自由现金流/营收 | 77.1% | 157.5% |
| 资本支出强度资本支出/营收 | 0.2% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.36× | 2.63× |
| 过去12个月自由现金流最近4个季度 | $851.8M | $115.7M |
8季度趋势，按日历期对齐
经营现金流MTGRDN
| 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 |
自由现金流MTGRDN
| 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 |
自由现金流率MTGRDN
| 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% |
资本支出强度MTGRDN
| 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% |
现金转化率MTGRDN
| 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× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
