Mgic Investment (MTG) FY2015 results: revenue $1.0 billion, up 10.5% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.0 billion for fiscal 2015, the year ended 31 December 2015, up 10.5% on the year before. Net income was $1.2 billion, up 365.2%, and diluted earnings per share $2.60. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$1.0 billion
+10.5% on the year
FY2008FY2015
Operating margin
46.9%
27.0% a year earlier
FY2008FY2015
Net income
$1.2 billion
+365.2% on the year
FY2008FY2015
Diluted EPS
$2.60
+306.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,041
942
1,039
+10.5%
Operating income
488
255
-46.2
+91.5%
Operating margin
46.9%
27.0%
-4.4%
Interest expense
68.9
69.6
79.7
-1.0%
Pre-tax income
488
255
-46.2
+91.5%
Income tax
-684
2.8
3.7
Effective tax rate
-140.3%
1.1%
n/a
Net income
1,172
252
-49.8
+365.2%
Net margin
112.6%
26.8%
-4.8%
Diluted EPS
$2.60
$0.64
-$0.16
+306.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
161
-405
-972
Capital expenditure
4.6
4.7
0.8
-1.6%
Free cash flow
157
-410
-972
Free cash flow margin
15.1%
-43.5%
-93.5%
Cash from investing
-97.0
n/a
-854
Cash from financing
-81.2
n/a
1,131
Depreciation and amortisation
52.6
48.9
69.2
+7.6%
Share-based compensation
11.9
9.2
6.6
+29.3%
Buybacks
0.0
0.0
n/a
Dividends paid
0.0
n/a
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
468m
414m
312m
+13.2%
Shares outstanding at period end
340m
339m
338m
+0.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,236
1,037
745
+115.7%
Debt
1,212
1,296
n/a
-6.5%
Other liabilities
2,432
2,933
4,857
-17.1%
Total liabilities and equity
5,880
5,266
5,601
+11.6%
Fixed assets
30.1
28.7
26.2
+4.9%
Securities held for sale or to maturity
4,658
4,610
4,864
+1.0%
Cash and equivalents
181
198
333
-8.5%
Other assets
1,011
430
379
+134.9%
Total assets
5,880
5,266
5,601
+11.6%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.