MTGMGIC INVESTMENT CORP
Surety Insurance
- Revenue
- $1.2B
- 0.5% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $5.9B
- Employees
- —
- Net debt / EBITDA
- —
- $436M net debt
- AI in 10-K
- 1.3
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo116% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowYes108% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.3 per 10K words · 42nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$5.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$27M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | 0.5% |
| Net income | $635M | $865M | $713M | $763M | $738M | 3.2% |
| Operating cash flow | $696M | $650M | $713M | $725M | $853M | 18% |
| Capex | $4M | $3M | $2M | $1M | $1M | 13% |
| Stock-based comp | $17M | $25M | $32M | $31M | $24M | 22% |
| Buybacks | $291M | $386M | $337M | $569M | $789M | 38% |
| Dividends | $94M | $111M | $123M | $131M | $132M | 1.5% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $27M · 25
- Net
- −$27M
Pay vs performance
No pay-versus-performance disclosure yet.