Mgic Investment (MTG) FY2017 results: revenue $1.1 billion, up 0.3% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.1 billion for fiscal 2017, the year ended 31 December 2017, up 0.3% on the year before. Net income was $356 million, up 3.9%, and diluted earnings per share $0.95. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$1.1 billion
+0.3% on the year
FY2010FY2017
Operating margin
73.6%
48.4% a year earlier
FY2010FY2017
Net income
$356 million
+3.9% on the year
FY2010FY2017
Diluted EPS
$0.95
+10.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,066
1,062
1,041
+0.3%
Operating income
784
515
488
+52.4%
Operating margin
73.6%
48.4%
46.9%
Interest expense
57.0
56.7
68.9
+0.6%
Pre-tax income
784
515
488
+52.4%
Income tax
429
172
-684
+149.0%
Effective tax rate
54.7%
33.5%
-140.3%
Net income
356
343
1,172
+3.9%
Net margin
33.4%
32.2%
112.6%
Diluted EPS
$0.95
$0.86
$2.60
+10.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
407
225
161
+80.9%
Capital expenditure
16.1
10.6
4.6
+52.3%
Free cash flow
391
214
157
+82.3%
Free cash flow margin
36.6%
20.2%
15.1%
Cash from investing
-304
-93.4
-97.0
Cash from financing
-159
-157
-81.2
Depreciation and amortisation
64.4
61.3
52.6
+5.0%
Share-based compensation
14.9
11.4
11.9
+30.7%
Buybacks
0.0
147
0.0
Dividends paid
0.0
0.0
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
395m
432m
468m
-8.6%
Shares outstanding at period end
371m
341m
340m
+8.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,155
2,549
2,236
+23.8%
Debt
830
1,179
1,212
-29.5%
Other liabilities
1,635
2,007
2,432
-18.6%
Total liabilities and equity
5,619
5,735
5,880
-2.0%
Fixed assets
44.9
36.1
30.1
+24.5%
Securities held for sale or to maturity
4,983
4,685
4,658
+6.4%
Cash and equivalents
99.9
155
181
-35.7%
Other assets
491
858
1,011
-42.7%
Total assets
5,619
5,735
5,880
-2.0%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.