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Sells private mortgage insurance that protects lenders when homebuyers default on low-down-payment mortgages.
Sells private mortgage insurance that protects lenders when homebuyers default on low-down-payment mortgages.
Pays out only if an insured borrower defaults, so it collects premiums, mostly monthly, for as long as loans stay in force, with claims low when home prices and jobs are healthy. Persistency, how long loans stay in force before being repaid or refinanced, drives income. Fannie Mae and Freddie Mac set the capital rules for approved insurers.
Moat: narrow (regulatory licence, scale). A licensed oligopoly of a handful of national mortgage insurers, with underwriting-model scale advantages.
Headquarters: Milwaukee, Wisconsin, United States · Founded: 1957 · Employees: 542
Size MGIC Investment (MTG) is a United States Financials company (Property/Casualty Insurance) with a market value of $5.87B, the 1079th largest of 3,117 United States companies the cockpit tracks. Shares closed at $28.60 on 6 Nov 2026.
Performance Over six months the shares gained 6.9%, against +17.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +5.2%); the operating margin is 77.0% (peer median 15.0%).
Valuation It trades at 1.18× book value against a peer median of 2.14× (4th cheapest of 21).
Price implies The share price implies a return on equity of about 8.9%; MGIC Investment delivers 13.9%, so the price asks less than the business earns today.
Credit MGIC Investment has 1 bond outstanding ($650M), rated BBB- by the agencies and trading like BB at a weighted spread of 131 bp.
Short interest Short interest is 5.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.20B | $1.21B | $1.21B | $1.16B | $1.17B |
| Revenue growth | — | 0% | +5% | -2% | — |
| Net income | $708M | $738M | $763M | $713M | $865M |
| Free cash flow | $706M | $852M | $724M | $711M | $647M |
| Capital expenditure | $1.54M | $1.02M | $1.17M | $2.00M | $3.25M |
| Total debt | $647M | $646M | $645M | $643M | $663M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| MGIC Investment MTG | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% |
| Radian RDN | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% |
| Essent ESNT | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% |
| Arch Capital ACGL | $36.6B | +14% | -5% | 19% | 1.58× | 8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MTG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.6% | +9.3% | 5th lowest of 21 |
| 6-month return | +6.9% | +17.5% | 5th lowest of 21 |
| Return on equity | 13.9% | 18.5% | 6th lowest of 21 |
| Price / book | 1.18× | 2.14× | 4th cheapest of 21 |
| Trailing P/E | 8.9× | 12.3× | 7th cheapest of 19 |
| ROE the price implies | 8.9% | 12.1% | 7th least demanding of 21 |
| ROE delivered | 13.9% | 18.8% | 6th lowest of 20 |
| Bond spread | 131 bp | 108 bp | 3rd widest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| Mercury General MCY | United States | $4.58B | -17% | +5% | 26% | 1.63× | 13.7% | 25.5% |
| Accelerant ARX | United States | $4.32B | +19% | +55% | -380% | 6.01× | 23.2% | -380.1% |
| Protector Forsikring PROT.OL | Norway | $4.19B | +4% | +12% | 35% | 5.34× | 18.1% | 35.2% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Palomar PLMR | United States | $4.10B | +37% | +60% | 22% | 4.16× | 17.0% | 22.2% |
| SiriusPoint SPNT | United States | $3.06B | +12% | +23% | 23% | 1.34× | 9.5% | 23.1% |
| NMI NMIH | United States | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% | 15.4% |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| Zenkoku Hosho 7164.T | Japan | $2.69B | +1% | +2% | 14% | 1.74× | 6.2% | 14.1% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| HCI HCI | United States | $2.31B | +22% | +23% | 34% | 2.15× | 17.3% | 33.8% |
| Hyundai M&F INS 001450.KS | South Korea | $2.29B | +38% | -5% | 21% | 0.51× | 4.2% | 21.0% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
MGIC Investment has 1 bond outstanding with $650M face value. The agencies rate it BBB-; its bonds trade like BB. Weighted yield 5.74%, a spread of 131 bp over government bonds.