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Provides private mortgage insurance that protects lenders against borrower default on low-down-payment home loans.
Provides private mortgage insurance that protects lenders against borrower default on low-down-payment home loans.
Collects premiums from lenders, usually paid monthly by the borrower, to cover a slice of the loss if a low-down-payment loan defaults, so profit rests on premiums earned, investment income on reserves and the level of defaults. Higher mortgage rates keep old policies in force longer but slow new insurance written. Fannie Mae and Freddie Mac set the rules lenders follow.
Moat: narrow (regulatory licence, scale). State insurance licences and GSE-approval requirements limit the number of viable mortgage insurers.
Headquarters: Wayne, Pennsylvania, US · Founded: 1977 · Employees: 900
Size Radian (RDN) is a United States Financials company (Specialty Insurance) with a market value of $4.76B, the 1217th largest of 3,117 United States companies the cockpit tracks. Shares closed at $35.97 on 6 Nov 2026.
Performance Over six months the shares fell 5.5%, against -5.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 10 in its peer set.
Growth Revenue grew 27.9% over the last twelve months (peer median +11.1%); the operating margin is 51.1% (peer median 13.6%).
Valuation It trades at 1.00× book value against a peer median of 1.11× (4th cheapest of 10).
Price implies The share price implies a return on equity of about 8.3%; Radian delivers 12.0%, so the price asks less than the business earns today.
Credit Radian has 2 bonds outstanding ($1.07B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 91 bp.
Short interest Short interest is 6.9% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.64B | $1.20B | $1.21B | $1.24B | $1.19B |
| Revenue growth | — | -1% | -3% | +4% | — |
| Net income | $536M | $583M | $604M | $603M | $743M |
| Free cash flow | $1.39B | $116M | -$665M | $513M | $371M |
| Capital expenditure | $2.69M | $4.21M | $1.56M | $16.3M | $17.7M |
| Total debt | $1.27B | $1.13B | $1.14B | $1.58B | $1.62B |
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 |
|---|---|---|---|---|---|---|
| Radian RDN | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% |
| MGIC Investment MTG | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% |
| Essent ESNT | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% |
| NMI NMIH | $2.94B | 0% | +8% | 15% | 1.10× | 7.9% |
| 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 | RDN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +3.7% | 4th highest of 10 |
| 6-month return | -5.5% | -5.7% | 5th highest of 10 |
| Return on equity | 12.0% | 10.1% | 4th highest of 10 |
| Price / book | 1.00× | 1.11× | 4th cheapest of 10 |
| Trailing P/E | 9.2× | 9.8× | 4th cheapest of 10 |
| ROE the price implies | 8.3% | 9.0% | 2nd least demanding of 10 |
| ROE delivered | 12.0% | 10.1% | 4th highest of 10 |
| Bond spread | 91 bp | 128 bp | 2nd tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
| Fidelity National Financial, Inc. - FNF FNF | United States | $11.8B | -13% | +13% | 10% | 1.58× | 13.4% | 10.1% |
| Stewart Information Services STC | United States | $1.43B | -33% | +21% | 8% | 0.86× | 9.0% | 7.7% |
Radian has 2 bonds outstanding with $1.07B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.42%, a spread of 91 bp over government bonds.