Filing Flows › Financials › Mgic Investment (MTG)
Mgic Investment (MTG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Mgic Investment (MTG) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $299M · 59¢ of every $1 of revenue kept as net profit · operating margin 74.0%
Mgic Investment made $299M in Q3 2026 (-2% Y/Y). Operating margin 74.0%, net earnings $175M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $299.1M in Q3 2026, down 2% year over year and up 1% from the previous quarter.
Operating profit was $221.3M, a 74.0% margin (down 3.2 points year over year). Total costs grew 12% against a revenue fall of 2%. Net earnings were $175.0M, down 8% year over year. The effective tax rate was 20.9%.
Operating cash flow was $216.4M (roughly flat year over year), 124% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items added $35.3M. Capital expenditures of $111K left free cash flow of $216.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $299M | -2% | 74.0% | $175M | $216M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $295M | -3% | 77.8% | $182M | $185M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $297M | -3% | 69.6% | $165M | $76.9M |
| Q4 2025 | 10-K | Feb 25, 2026 | $299M | -0.9% | 71.2% | $169M | $231M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $305M | -0.7% | 77.2% | $191M | $215M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $304M | -0.3% | 80.9% | $192M | $183M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $306M | +4% | 76.6% | $185M | $224M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Mgic Investment
We are a holding company and through wholly-owned subsidiaries we provide private mortgage insurance, other mortgage credit risk management solutions, and ancillary services. In 2025, our total revenues were $1.2 billion and our primary NIW was $60.2 billion. As of December 31, 2025, our direct primary IIF was $303.1 billion and our direct primary RIF was $81.2 billion. For further information about our results of operations, see our consolidated financial statements in Item 8 and our MD&A in Item 7 . As of December 31, 2025, our principal mortgage insurance subsidiary, MGIC, was licensed in all 50 states of the United States, the District of Columbia, Puerto Rico and Guam. During 2025, we wrote new insurance in each of those jurisdictions.
In its own words, from its 10-K, filed Feb 25, 2026.
Mgic Investment against its Surety Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +20%. Operating margin: 74.0% against the peers' median 40.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MTG Mgic Investment | Q3 2026 | $299M | -2% | 74.0% |
| ORI Old Republic International | Q3 2026 | $2.6B | +5% | 10.7% |
| RDN Radian Group | Q3 2026 | $624M | +106% | 36.6% |
| ESNT Essent Group | Q3 2026 | $374M | +20% | 53.2% |
| AGO Assured Guaranty | Q3 2026 | $214M | +3% | 40.7% |
| NMIH NMI Holdings | Q3 2026 | $188M | +5% | 64.1% |
| OSG Octave Specialty Group | Q2 2026 | $83.0M | +51% | -14.1% |
| MBI Mbia | Q3 2026 | $26.0M | +73% | -88.5% |
Source: Mgic Investment 10-Q on SEC EDGAR · CIK 876437 · Surety Insurance
Guidance and outlook
13F: who owns MTG and who is buying
More on MTG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results