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Surety Insurance: capital spending and supply chain

SIC 6351 · 4 companies with filed cash-flow statements

Capital spending, 12 months$15.7M
Operating cash flow$3.4B
Capex / cash flow0%
Capex / revenue0.1%
Top 3 share91%

Analysis

4 companies in Surety Insurance (SIC 6351) spent $15.7M on capital projects over their latest twelve months, 0% of the $3.4B their operations generated; the three largest spenders — NMIH, ESNT, RDN — account for 91%.

Capital spending is 0.1% of the industry's $16.5B of annual revenue.

By the industry's asset mix most of it goes to software (72%); about $1.9M is imported.

The largest supplier of that spending is software publishers ($5.6M).

Its largest supplying industries, by the input-output tables: insurance agencies, brokerages, and related activities ($1.6B), insurance carriers, except direct life ($485M), other real estate ($165M).

Charts

Surety Insurance: capital spending by company, latest twelve monthsSurety Insurance: capital spending by company, latest twelve monthsNMIH$7.2MESNT$4.1MRDN$3.0MMTG$1.4M
Filed cash-flow statements (SEC XBRL).
Surety Insurance: what the capital spending buys (US part)Surety Insurance: what the capital spending buys (US part)Structures$796KEquipment$1.6MSoftware$9.9MOther$1.4M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Surety Insurance: the industries that build and sell what it buysSurety Insurance: the industries that build and sell what it buysSoftware publishers$5.6MCustom computer programming servi…$2.0MComputer systems design services$1.9MOffice and commercial structures$796KAircraft manufacturing$667KData processing, hosting, and rel…$307KAircraft engine and engine parts …$231KManagement of companies and enter…$186KOffice furniture and custom archi…$183KLight truck and utility vehicle m…$139K
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Surety Insurance: its first-tier supplying industriesSurety Insurance: its first-tier supplying industriesInsurance agencies, brokerages, a…$1.6BInsurance carriers, except direct…$485MOther real estate$165MLegal services$102MAccounting, tax preparation, book…$65.5MImports$60.4MManagement of companies and enter…$52.2MInternet publishing and broadcast…$47.8MAdvertising, public relations, an…$43.9MCivic, social, professional, and …$30.4M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Surety Insurance: where the industry's cash came from (+) and went (−)Surety Insurance: where the industry's cash came from (+) and went (−)Operating cash flow$4.9BBuybacks−$2.3BDividends−$1.4BOther financing (out)−$1.1BOther investing (out)−$870MOther investing (in)$851MNet borrowing$693MCash added to the balance she…−$371MNet debt repaid−$200MOperating cash outflow−$182MCash drawn from the balance s…$113MTaxes paid on employees' shar…−$68.6MShares issued$34.2MPaid to partners−$31.4M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
NMIH NMI Holdings$7.2M$431M2%TTM to Q3 2026
ESNT Essent Group$4.1M$857M0%TTM to Q3 2026
RDN Radian Group$3.0M$1.4B0%TTM to Q3 2026
MTG Mgic Investment$1.4M$709M0%TTM to Q3 2026

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.