Filing Flows › Mgic Investment (MTG) › Q4 2025
Mgic Investment (MTG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Mgic Investment (MTG) reported revenue of $299M for the fourth quarter 2025 (Q4 2025), -0.9% from a year earlier and -2% from the quarter before. Operating margin was 71.2%, net earnings $169M (56.7% of revenue).
Mgic Investment, Q4 2025: revenue $299M (-0.9% year over year), operating margin 71.2%, net earnings $169M, operating cash flow $231M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $299M | -2% | -0.9% |
| Operating profit | $213M | -10% | -9% |
| Net earnings | $169M | -11% | -8% |
| Operating cash flow | $231M | +7% | +27% |
| Free cash flow | $230M | +7% | +27% |
What changed
Revenue was $298.7M in Q4 2025, down 1% year over year and down 2% from the previous quarter.
Operating profit was $212.7M, a 71.2% margin (down 6.6 points year over year). Total costs grew 29% against a revenue fall of 1%. Net earnings were $169.3M, down 8% year over year. The effective tax rate was 20.4%.
Operating cash flow was $230.8M (up 27% year over year), 136% of net earnings. Non-cash charges added back $821K of depreciation and amortization and $5.7M of share-based compensation. Working capital and other items added $55.0M. Capital expenditures of $601K left free cash flow of $230.2M.
Questions
What was Mgic Investment's revenue in the fourth quarter 2025?
Mgic Investment (MTG) reported revenue of $299M for the fourth quarter 2025 (Q4 2025), -0.9% from a year earlier and -2% from the quarter before.
Was Mgic Investment profitable in the fourth quarter 2025?
Operating profit was $213M (71.2% of revenue) and net earnings $169M.
Source: Mgic Investment 10-K on SEC EDGAR.