MTG · Mgic Investment Corp
10 customers — 32% of revenue (2025)
“Regarding the concentration of our new business, our top ten customers accounted for approximately 32% and 37% in 2025 and 2024, respectively.”
One customer — 16% of revenue (2025)
“Our largest customer accounted for approximately 16% and 21% of our NIW for 2025 and 2024, respectively.”
One customer — 11% of revenue (2025)
“That customer accounted for approximately 11% and 10% of our direct earned premiums in each of 2025 and 2024, respectively.”
10 customers — 37% of revenue (2024)
“Regarding the concentration of our new business, our top ten customers accounted for approximately 32% and 37% in 2025 and 2024, respectively.”
One customer — 21% of revenue (2024)
“Our largest customer accounted for approximately 16% and 21% of our NIW for 2025 and 2024, respectively.”
One customer — 10% of revenue (2024)
“That customer accounted for approximately 11% and 10% of our direct earned premiums in each of 2025 and 2024, respectively.”
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. MGIC reported Q2 2026 net income of $182 million ($0.86 diluted EPS) with a 14.5% annualized ROE, wrote $17.8 billion of new insurance (up 8.5% YoY), and its board raised the quarterly dividend to $0.17/share while authorizing an additional $750 million in share repurchases; the company also tightened full-year operating expense guidance to the low end of $190–$200 million.
- + New insurance written of $17.8 billion in Q2, up 8.5% YoY and highest since Q3 2022
- + Board raised quarterly dividend to $0.17/share (six consecutive years of increases, ~19% CAGR) and authorized an additional $750 million of share repurchases through Dec 31, 2028
- + Full-year operating expense guidance tightened to the low end of the $190–$200 million range
- + $43 million of favorable prior-delinquency loss reserve development in Q2 and $6 billion of balance sheet capital
- − Primary delinquency rate rose to 2.37%, up 16 basis points YoY, and is expected to increase in the second half due to seasonality
- − Annual persistency declined to 83% from 84% last quarter, signaling higher cancellations
- − In-force portfolio yield compressed to 38 basis points, with management expecting it to continue on the same downward path
- − Investment income of $59 million constrained by capital return activities limiting portfolio growth
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Insurance - Specialty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MTG
this stock
Mgic Investment Corp
|
$5.84B | -7.8% | +0.5% | 8.9 | 4.1% |
|
FNF
Fidelity National Financial, Inc.
|
$11.11B | -28.1% | +5.6% | — | 3.9% |
|
AXS
Axis Capital Holdings Ltd
|
$7.02B | -11.4% | +10.2% | 7.1 | 2.7% |
|
FAF
First American Financial Corp
|
$6.77B | +1.7% | +21.6% | 9.2 | 5.9% |
|
ACT
Enact Holdings, Inc.
|
$6.45B | +14.2% | +2.8% | 9.9 | 2.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MTG | -5.4% | -14.4% | -2.0% | +4.3% | -7.8% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -5.2% | -13.9% | -14.1% | +3.4% | -20.6% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.