NYSE : RDN
Radian Group Inc. — Financial statements
Financials · Insurance - Specialty · United States
Last price 35.68 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.72B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.38B | 941.87M | 939.24M | 909.36M | 981.13M | 1.04B |
| Total Interest & Dividend Income | 270.48M | 248.76M | 264.81M | 252.09M | 195.66M | 147.91M |
| Gain (Loss) on Sale of Investments | -14.64M | -5.11M | -8.49M | 118.00K | -65.11M | 17.10M |
| Non-Insurance Activities Revenue | 92.22M | 125.83M | ||||
| Other Revenue | 13.17M | 11.57M | 10.74M | 15.73M | -13.17M | 1.92M |
| Total Revenue | 1.65B | 1.20B | 1.21B | 1.18B | 1.19B | 1.33B |
| Policy Benefits | 342.35M | 66.77M | -2.25M | -42.14M | -338.24M | 20.88M |
| Policy Acquisition & Underwriting Costs | 164.02M | 25.04M | 27.32M | 24.58M | 23.92M | 29.03M |
| Amortization of Goodwill & Intangibles | 9.80M | 4.31M | 3.45M | |||
| Non-Insurance Activities Expense | 82.36M | 103.71M | ||||
| Other Operating Expenses | 276.99M | 224.32M | 230.36M | 240.13M | 366.30M | 320.12M |
| Total Operating Expenses | 793.17M | 316.13M | 255.43M | 222.57M | 138.64M | 477.19M |
| Operating Income | 856.37M | 880.95M | 950.87M | 954.73M | 1.05B | 852.74M |
| Interest Expense | -77.28M | -68.29M | -88.01M | -86.19M | -84.45M | -84.34M |
| EBT Excluding Unusual Items | 774.55M | 812.66M | 862.87M | 868.55M | 967.63M | 768.39M |
| Merger & Restructuring Charges | -40.00M | -11.00M | ||||
| Asset Writedown | -10.44M | -10.44M | -17.26M | -4.67M | -14.85M | -3.56M |
| Pretax Income | 724.11M | 791.23M | 845.61M | 863.88M | 952.78M | 764.83M |
| Income Tax Expense | 164.81M | 173.05M | 185.29M | 188.02M | 209.84M | 164.16M |
| Earnings From Continuing Ops. | 559.30M | 618.18M | 660.32M | 675.86M | 742.93M | 600.67M |
| Earnings From Discontinued Ops. | -23.00M | -35.54M | -55.88M | -72.74M | ||
| Net Income | 536.29M | 582.64M | 604.44M | 603.12M | 742.93M | 600.67M |
| Net Income to Common | 536.29M | 582.64M | 604.44M | 603.12M | 742.93M | 600.67M |
| Shares Outstanding (Basic) | 136.79M | 139.44M | 152.47M | 158.14M | 167.93M | 188.37M |
| Shares Outstanding (Diluted) | 138.08M | 140.81M | 154.19M | 160.13M | 170.66M | 190.26M |
| EPS (Basic) | 3.92 | 4.18 | 3.96 | 3.81 | 4.42 | 3.19 |
| EPS (Diluted) | 3.89 | 4.14 | 3.92 | 3.77 | 4.35 | 3.16 |
| Free Cash Flow | 1.39B | 115.66M | -665.13M | 520.90M | 370.63M | 544.51M |
| Free Cash Flow Per Share | 10.07 | 0.82 | -4.31 | 3.25 | 2.17 | 2.86 |
| Dividend Per Share | 1.02 | 1.02 | 0.98 | 0.90 | 0.80 | 0.55 |
| Operating Margin | 51.92% | 73.59% | 78.83% | 81.09% | 88.36% | 64.12% |
| Profit Margin | 32.51% | 48.67% | 50.11% | 51.23% | 62.39% | 45.17% |
| Free Cash Flow Margin | 84.29% | 9.66% | -55.14% | 44.25% | 31.13% | 40.94% |
| EBITDA | 903.04M | 916.95M | 995.36M | 1.01B | 1.11B | 924.65M |
| EBITDA Margin | 54.74% | 76.60% | 82.51% | 85.61% | 93.54% | 69.53% |
| D&A For EBITDA | 46.67M | 36.00M | 44.49M | 53.22M | 61.73M | 71.91M |
| EBIT | 856.37M | 880.95M | 950.87M | 954.73M | 1.05B | 852.74M |
| EBIT Margin | 51.92% | 73.59% | 78.83% | 81.09% | 88.36% | 64.12% |
| Effective Tax Rate | 22.76% | 21.87% | 21.91% | 21.77% | 22.02% | 21.46% |
| Revenue as Reported | 1.64B | 1.20B | 1.21B | 1.18B | 1.19B | 1.33B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 6.23B | 4.27B | 5.06B | 5.19B | 5.02B | 5.52B |
| Investments in Equity & Preferred Securities | 32.41M | 36.63M | 138.19M | 89.06M | 148.97M | 184.25M |
| Other Investments | 607.46M | 1.55B | 292.86M | 519.83M | 307.87M | 507.02M |
| Total Investments | 6.91B | 5.93B | 5.58B | 5.94B | 5.59B | 6.46B |
| Cash & Equivalents | 119.05M | 24.83M | 19.22M | 19.00M | 56.18M | 151.15M |
| Reinsurance Recoverable | 381.40M | 48.81M | 34.56M | 25.91M | 25.63M | 67.90M |
| Other Receivables | 868.44M | 160.48M | 165.30M | 169.64M | 159.93M | 156.83M |
| Deferred Policy Acquisition Cost | 180.88M | 19.02M | 17.75M | 18.72M | 18.46M | 16.32M |
| Property, Plant & Equipment | 15.16M | 18.57M | 27.55M | 36.83M | 53.26M | |
| Goodwill | 5.28M | 9.80M | 9.80M | |||
| Other Intangible Assets | 409.56M | 11.00M | 16.41M | 52.56M | 60.73M | 63.50M |
| Restricted Cash | 36.00M | 10.00K | 30.00K | 1.07M | 377.00K | 1.48M |
| Other Current Assets | 1.44B | 1.65B | 2.57B | 1.00B | 837.50M | 604.45M |
| Other Long-Term Assets | 299.66M | 271.85M | 274.88M | 343.07M | 264.52M | 249.63M |
| Total Assets | 10.66B | 8.12B | 8.69B | 7.59B | 7.06B | 7.84B |
| Accrued Expenses | 55.10M | 48.26M | 41.20M | 47.77M | ||
| Insurance & Annuity Liabilities | 1.91B | 352.93M | 354.43M | 370.15M | 426.84M | 828.64M |
| Unpaid Claims | 47.02M | |||||
| Unearned Premiums | 1.02B | 159.34M | 188.34M | 245.36M | 298.48M | 367.69M |
| Reinsurance Payable | 242.96M | 152.07M | 228.08M | |||
| Current Portion of Long-Term Debt | 535.11M | 33.32M | 36.14M | 521.91M | 104.89M | 71.05M |
| Current Portion of Leases | 6.99M | |||||
| Short-Term Debt | 79.78M | 62.21M | 125.72M | 149.36M | ||
| Current Income Taxes Payable | 80.23M | 34.77M | 23.29M | 20.76M | 21.00M | |
| Long-Term Debt | 696.89M | 1.08B | 1.08B | 1.02B | 1.46B | 1.49B |
| Long-Term Leases | 33.00M | 15.13M | 29.76M | 44.69M | 49.39M | 53.52M |
| Long-Term Deferred Tax Liabilities | 962.16M | 942.19M | 772.23M | 589.56M | 391.08M | 337.51M |
| Other Current Liabilities | 158.83M | 487.68M | 1.36B | 130.56M | 4.90M | |
| Other Long-Term Liabilities | 76.02M | 75.24M | 57.33M | 60.65M | 231.32M | 204.49M |
| Total Liabilities | 5.85B | 3.34B | 4.07B | 3.20B | 3.14B | 3.58B |
| Common Stock | 156.00K | 157.00K | 168.00K | 173.00K | 176.00K | 194.00K |
| Additional Paid-In Capital | 783.23M | 861.21M | 1.25B | 1.43B | 1.52B | 1.88B |
| Retained Earnings | 5.30B | 5.13B | 4.70B | 4.24B | 3.79B | 3.18B |
| Treasury Stock | -1.01B | -989.75M | -968.25M | -945.87M | -930.64M | -920.80M |
| Comprehensive Income & Other | -265.42M | -222.16M | -350.24M | -330.85M | -456.80M | 120.09M |
| Shareholders' Equity | 4.81B | 4.78B | 4.62B | 4.40B | 3.92B | 4.26B |
| Total Liabilities & Equity | 10.66B | 8.12B | 8.69B | 7.59B | 7.06B | 7.84B |
| Filing Date Shares Outstanding | 132.30M | 136.27M | 145.06M | 151.50M | 157.19M | 175.53M |
| Total Common Shares Outstanding | 133.56M | 135.50M | 147.57M | 153.18M | 157.06M | 175.42M |
| Total Debt | 1.34B | 1.19B | 1.27B | 1.73B | 1.62B | 1.61B |
| Net Cash (Debt) | -1.23B | -1.17B | -1.25B | -1.71B | -1.56B | -1.46B |
| Net Cash Per Share | -8.88 | -8.30 | -8.09 | -10.69 | -9.16 | -7.69 |
| Book Value Per Share | 36.00 | 35.29 | 31.33 | 28.71 | 24.95 | 24.28 |
| Tangible Book Value | 4.39B | 4.77B | 4.61B | 4.35B | 3.85B | 4.19B |
| Tangible Book Value Per Share | 32.90 | 35.21 | 31.22 | 28.37 | 24.51 | 23.86 |
| Machinery | 67.84M | 67.50M | 71.88M | 68.22M | 67.32M | |
| Leasehold Improvements | 34.83M | 32.81M | 39.34M | 39.13M | 34.80M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 536.29M | 582.64M | 604.44M | 603.12M | 742.93M | 600.67M |
| Depreciation & Amortization | 46.67M | 36.00M | 44.49M | 53.22M | 61.73M | 71.91M |
| Gain (Loss) on Sale of Investments | 24.00K | 24.00K | 4.35M | -9.40M | 80.73M | -15.60M |
| Change in Accounts Receivable | 793.00K | 793.00K | -1.77M | -11.18M | 4.21M | -2.72M |
| Reinsurance Recoverable | -14.25M | -14.25M | -9.47M | -359.00K | 42.26M | 5.31M |
| Change in Unearned Revenue | -29.00M | -29.00M | -37.06M | -46.08M | -57.61M | -119.70M |
| Change in Income Taxes | -135.25M | -135.25M | -170.76M | -153.95M | -242.25M | -143.23M |
| Change in Insurance Reserves / Liabilities | 45.52M | 45.52M | -10.49M | -56.03M | -401.80M | -19.77M |
| Change in Other Net Operating Assets | 47.79M | 47.79M | -4.49M | 5.06M | 17.96M | 63.39M |
| Other Operating Activities | 179.79M | 174.67M | 226.07M | 245.49M | 206.93M | 161.79M |
| Operating Cash Flow | 1.39B | 119.86M | -663.57M | 529.43M | 388.30M | 557.11M |
| Capital Expenditures | -2.89M | -4.21M | -1.56M | -8.53M | -17.67M | -12.60M |
| Cash Acquisitions | -1.57B | |||||
| Investment in Securities | 1.21B | -82.05M | 279.54M | -221.88M | 19.38M | 4.61M |
| Other Investing Activities | 126.52M | 213.54M | 49.77M | -70.42M | -6.89M | 6.13M |
| Investing Cash Flow | -234.68M | 127.29M | 327.75M | -300.84M | -5.17M | -1.86M |
| Short-Term Debt Issued | 592.00K | 13.56M | ||||
| Long-Term Debt Issued | 94.68M | 623.25M | 55.62M | 432.97M | 42.00M | |
| Total Debt Issued | 215.49M | 95.27M | 623.25M | 55.62M | 432.97M | 55.56M |
| Total Debt Repaid | -236.17M | -163.44M | -1.06B | -64.39M | -377.05M | -48.00M |
| Net Debt Issued (Repaid) | -20.68M | -68.17M | -433.39M | -8.78M | 55.92M | 7.57M |
| Issuance of Common Stock | 630.00K | 1.04M | 928.00K | 1.75M | 1.34M | 1.38M |
| Repurchases of Common Stock | -130.34M | -431.91M | -225.06M | -133.31M | -400.19M | -399.10M |
| Common Dividends Paid | -142.33M | -145.62M | -151.96M | -145.91M | -135.44M | -103.30M |
| Other Financing Activities | -733.35M | 401.55M | 1.17B | 21.16M | -814.00K | -3.33M |
| Financing Cash Flow | -1.03B | -243.10M | 357.23M | -265.09M | -479.18M | -496.78M |
| Foreign Exchange Rate Adjustments | 1.81M | |||||
| Net Cash Flow | 134.40M | 4.05M | 21.41M | -36.49M | -96.06M | 58.47M |
| Free Cash Flow | 1.39B | 115.66M | -665.13M | 520.90M | 370.63M | 544.51M |
| Free Cash Flow Margin | 84.29% | 9.66% | -55.14% | 44.25% | 31.13% | 40.94% |
| Free Cash Flow Per Share | 10.07 | 0.82 | -4.31 | 3.25 | 2.17 | 2.86 |
| Levered Free Cash Flow | 308.74M | -581.22M | 471.43M | 223.76M | 716.15M | 416.06M |
| Unlevered Free Cash Flow | 357.03M | -538.54M | 526.43M | 277.62M | 768.93M | 468.77M |
| Cash Interest Paid | 64.04M | 64.04M | 89.09M | 83.27M | 79.06M | 78.70M |
| Cash Income Tax Paid | 137.13M | 137.13M | 172.71M | 153.94M | 243.50M | 143.97M |
| Change in Working Capital | -83.78M | -83.78M | -241.66M | -284.30M | -715.37M | -265.22M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.77B | 4.88B | 4.72B | 4.37B | 2.99B | 3.79B |
| Enterprise Value | 6.00B | 6.13B | 6.66B | 6.02B | 4.56B | 5.27B |
| PE Ratio | 9.27 | 8.37 | 7.82 | 7.25 | 4.03 | 6.31 |
| PS Ratio | 2.88 | 4.07 | 3.92 | 3.71 | 2.52 | 2.85 |
| PB Ratio | 0.99 | 1.02 | 1.02 | 0.99 | 0.76 | 0.89 |
| P/FCF Ratio | 3.41 | 42.16 | 8.39 | 8.08 | 6.96 | |
| P/OCF Ratio | 3.41 | 40.68 | 8.26 | 7.71 | 6.80 | |
| EV/Sales Ratio | 3.62 | 5.12 | 5.52 | 5.11 | 3.83 | 3.96 |
| EV/EBITDA Ratio | 6.61 | 6.69 | 6.69 | 5.97 | 4.09 | 5.70 |
| EV/EBIT Ratio | 6.97 | 6.96 | 7.00 | 6.30 | 4.33 | 6.18 |
| EV/FCF Ratio | 4.30 | 53.03 | 11.55 | 12.29 | 9.68 | |
| Debt / Equity Ratio | 0.28 | 0.25 | 0.27 | 0.39 | 0.41 | 0.38 |
| Debt / EBITDA Ratio | 1.49 | 1.30 | 1.27 | 1.71 | 1.44 | 1.73 |
| Debt / FCF Ratio | 0.97 | 10.32 | 3.32 | 4.37 | 2.96 | |
| Net Debt / Equity Ratio | 0.26 | 0.24 | 0.27 | 0.39 | 0.40 | 0.34 |
| Net Debt / EBITDA Ratio | 1.36 | 1.27 | 1.25 | 1.70 | 1.40 | 1.58 |
| Net Debt / FCF Ratio | 0.88 | 10.10 | -1.88 | 3.29 | 4.22 | 2.69 |
| Quick Ratio | 0.70 | 1.99 | 0.29 | 0.68 | 1.02 | 1.55 |
| Current Ratio | 1.59 | 3.96 | 1.77 | 1.64 | 2.58 | 2.61 |
| Asset Turnover | 0.16 | 0.14 | 0.15 | 0.16 | 0.16 | 0.17 |
| Return on Equity (ROE) | 12.03% | 13.15% | 14.64% | 16.25% | 18.17% | 14.06% |
| Return on Assets (ROA) | 5.29% | 6.55% | 7.30% | 8.14% | 8.82% | 6.75% |
| Return on Invested Capital (ROIC) | 10.72% | 11.60% | 12.35% | 12.80% | 14.38% | 11.36% |
| Earnings Yield | 10.78% | 11.95% | 12.80% | 13.79% | 24.81% | 15.85% |
| FCF Yield | 29.29% | 2.37% | -14.08% | 11.91% | 12.38% | 14.37% |
| Dividend Yield | 2.83% | 2.83% | 3.06% | 3.15% | 4.20% | 2.52% |
| Payout Ratio | 26.24% | 24.99% | 25.14% | 24.19% | 18.23% | 17.20% |
| Buyback Yield / Dilution | 6.71% | 8.68% | 3.71% | 6.17% | 10.30% | 3.24% |
| Total Shareholder Return | 9.55% | 11.51% | 6.77% | 9.32% | 14.50% | 5.77% |