Mgic Investment (MTG) FY2016 results: revenue $1.1 billion, up 2.1% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.1 billion for fiscal 2016, the year ended 31 December 2016, up 2.1% on the year before. Net income was $343 million, down 70.8%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$1.1 billion
+2.1% on the year
FY2009FY2016
Operating margin
48.4%
46.9% a year earlier
FY2009FY2016
Net income
$343 million
-70.8% on the year
FY2009FY2016
Diluted EPS
$0.86
-66.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,062
1,041
942
+2.1%
Operating income
515
488
255
+5.5%
Operating margin
48.4%
46.9%
27.0%
Interest expense
56.7
68.9
69.6
-17.8%
Pre-tax income
515
488
255
+5.5%
Income tax
172
-684
2.8
Effective tax rate
33.5%
-140.3%
1.1%
Net income
343
1,172
252
-70.8%
Net margin
32.2%
112.6%
26.8%
Diluted EPS
$0.86
$2.60
$0.64
-66.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
225
161
-405
+39.3%
Capital expenditure
10.6
4.6
4.7
+127.9%
Free cash flow
214
157
-410
+36.6%
Free cash flow margin
20.2%
15.1%
-43.5%
Cash from investing
-93.4
-97.0
n/a
Cash from financing
-157
-81.2
n/a
Depreciation and amortisation
61.3
52.6
48.9
+16.7%
Share-based compensation
11.4
11.9
9.2
-4.2%
Buybacks
147
0.0
0.0
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
432m
468m
414m
-7.7%
Shares outstanding at period end
341m
340m
339m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,549
2,236
1,037
+14.0%
Debt
1,179
1,212
1,296
-2.7%
Other liabilities
2,007
2,432
2,933
-17.5%
Total liabilities and equity
5,735
5,880
5,266
-2.5%
Fixed assets
36.1
30.1
28.7
+19.9%
Securities held for sale or to maturity
4,685
4,658
4,610
+0.6%
Cash and equivalents
155
181
198
-14.2%
Other assets
858
1,011
430
-15.1%
Total assets
5,735
5,880
5,266
-2.5%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.