RDNRADIAN GROUP INC
Surety Insurance
- Revenue
- $1.2B
- 0.8% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $4.7B
- Employees
- 900
- $1M revenue each
- Net debt / EBITDA
- —
- $578M net debt
- AI in 10-K
- 3.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 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 cashYes21% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowYes482% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$1M · 46th pctBottom quartile of its SIC industry
- Quiet on AINo3.0 per 10K words · 70th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$4.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.2B | $1.2B | $1.2B | $1.2B | 0.8% |
| Net income | $601M | $743M | $603M | $604M | $583M | 3.6% |
| Operating cash flow | $557M | $388M | $529M | −$664M | $120M | 118% |
| Capex | $13M | $18M | $9M | $2M | $4M | 169% |
| Stock-based comp | $28M | $38M | $41M | $38M | $45M | 16% |
| Buybacks | $399M | $400M | $133M | $225M | $432M | 92% |
| Dividends | $103M | $135M | $146M | $152M | $146M | 4.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $6M · 2
- Open-market sells, 12 mo
- $4M · 14
- Net
- $1M
Pay vs performance
No pay-versus-performance disclosure yet.