Health score, competitive moat, risk signals, and key metrics at a glance.
MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure on the mortgage or sale of the underlying property. It also provides contract underwriting services, as well as reinsurance services. The company serves originators of residential mortgage loans, including savings institutions, commercial banks, mortgage brokers, credit unions, mortgage bankers, and other lenders. The company was founded in 1957 and is headquartered in Milwaukee, Wisconsin.
Competitive analysis based on 62 quarters of fundamental data
Operating margins are positive at ~77.7% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~14.6% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~2.1%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 62 quarters
Operating margins declined 7.3% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 18.5% — net buybacks are reducing shares outstanding and boosting per-share value.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
