Mgic Investment (MTG) FY2018 results: revenue $1.1 billion, up 5.4% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.1 billion for fiscal 2018, the year ended 31 December 2018, up 5.4% on the year before. Net income was $670 million, up 88.4%, and diluted earnings per share $1.78. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$1.1 billion
+5.4% on the year
FY2011FY2018
Operating margin
75.1%
73.6% a year earlier
FY2011FY2018
Net income
$670 million
+88.4% on the year
FY2011FY2018
Diluted EPS
$1.78
+87.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,124
1,066
1,062
+5.4%
Operating income
844
784
515
+7.6%
Operating margin
75.1%
73.6%
48.4%
Interest expense
53.0
57.0
56.7
-7.1%
Pre-tax income
844
784
515
+7.6%
Income tax
174
429
172
-59.4%
Effective tax rate
20.6%
54.7%
33.5%
Net income
670
356
343
+88.4%
Net margin
59.6%
33.4%
32.2%
Diluted EPS
$1.78
$0.95
$0.86
+87.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
545
407
225
+33.9%
Capital expenditure
14.2
16.1
10.6
-11.4%
Free cash flow
530
391
214
+35.8%
Free cash flow margin
47.2%
36.6%
20.2%
Cash from investing
-318
-304
-93.4
Cash from financing
-172
-159
-157
Depreciation and amortisation
58.2
64.4
61.3
-9.6%
Share-based compensation
20.9
14.9
11.4
+40.3%
Buybacks
163
0.0
147
Dividends paid
0.0
0.0
0.0
Dividend per share
n/a
$0.00
$0.00
Diluted shares, weighted
386m
395m
432m
-2.2%
Shares outstanding at period end
355m
371m
341m
-4.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,582
3,155
2,549
+13.5%
Debt
832
830
1,179
+0.1%
Other liabilities
1,264
1,635
2,007
-22.7%
Total liabilities and equity
5,678
5,619
5,735
+1.0%
Fixed assets
51.7
44.9
36.1
+15.1%
Securities held for sale or to maturity
5,152
4,983
4,685
+3.4%
Cash and equivalents
152
99.9
155
+52.1%
Other assets
322
491
858
-34.4%
Total assets
5,678
5,619
5,735
+1.0%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.