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Radian Group (RDN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Radian Group (RDN) Q3 2026 earnings results →
Q3 2026 Revenue up 106% year over year to $624M · 26¢ of every $1 of revenue kept as net profit · operating margin 36.6%
Radian Group made $624M in Q3 2026 (+106% Y/Y). Operating margin 36.6%, net earnings $164M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $624.1M in Q3 2026, up 106% year over year and up 9% from the previous quarter.
Operating profit was $228.3M, a 36.6% margin (down 29.0 points year over year). Of the extra revenue versus Q3 2025, 9% reached operating profit, below the 66% margin then. Total costs grew 279% against revenue growth of 106%. Net earnings were $163.7M, up 16% year over year. The effective tax rate was 25.5%.
Operating cash flow was $380.2M (up 6% year over year), 232% of net earnings. Working capital and other items added $216.5M. Capital expenditures of $1.2M left free cash flow of $379.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $624M | +106% | 36.6% | $164M | $380M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $575M | +93% | 26.2% | $116M | $343M |
| Q1 2026 | 10-Q | May 8, 2026 | $466M | +58% | 37.2% | $124M | $285M |
| Q4 2025 | 10-K | Feb 20, 2026 | $301M | +3% | 66.9% | $155M | $407M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $303M | -3% | 65.5% | $141M | $358M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $318M | -1% | 55.0% | $142M | −$713M |
| Q1 2025 | 10-Q | May 2, 2025 | $318M | -0.4% | 59.2% | $145M | $67.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Radian Group
As a leading U.S. private mortgage insurer, Radian provides solutions that expand access to affordable, responsible and sustainable homeownership and helps borrowers achieve their dream of owning a home. As of December 31, 2025, we had one reportable business segment, Mortgage Insurance. Our Mortgage Insurance segment aggregates, manages and distributes U.S. mortgage credit risk for the benefit of mortgage lending institutions and mortgage credit investors, principally through private mortgage insurance on residential first-lien mortgage loans.
In its own words, from its 10-K, filed Feb 20, 2026.
Radian Group against its Surety Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +106% against the peers' median +20%. Operating margin: 36.6% against the peers' median 40.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RDN Radian Group | Q3 2026 | $624M | +106% | 36.6% |
| ORI Old Republic International | Q3 2026 | $2.6B | +5% | 10.7% |
| ESNT Essent Group | Q3 2026 | $374M | +20% | 53.2% |
| MTG Mgic Investment | Q3 2026 | $299M | -2% | 74.0% |
| 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: Radian Group 10-Q on SEC EDGAR · CIK 890926 · Surety Insurance
Guidance and outlook
13F: who owns RDN and who is buying
More on RDN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results