Mgic Investment (MTG) FY2019 results: revenue $1.2 billion, up 8.0% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, up 8.0% on the year before. Net income was $674 million, up 0.5%, and diluted earnings per share $1.85. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$1.2 billion
+8.0% on the year
FY2012FY2019
Operating margin
69.9%
75.1% a year earlier
FY2012FY2019
Net income
$674 million
+0.5% on the year
FY2012FY2019
Diluted EPS
$1.85
+3.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,214
1,124
1,066
+8.0%
Operating income
848
844
784
+0.5%
Operating margin
69.9%
75.1%
73.6%
Interest expense
52.7
53.0
57.0
-0.6%
Pre-tax income
848
844
784
+0.5%
Income tax
174
174
429
+0.1%
Effective tax rate
20.5%
20.6%
54.7%
Net income
674
670
356
+0.5%
Net margin
55.5%
59.6%
33.4%
Diluted EPS
$1.85
$1.78
$0.95
+3.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
610
545
407
+11.9%
Capital expenditure
5.6
14.2
16.1
-60.4%
Free cash flow
604
530
391
+13.9%
Free cash flow margin
49.7%
47.2%
36.6%
Cash from investing
-422
-318
-304
Cash from financing
-173
-172
-159
Depreciation and amortisation
48.8
58.2
64.4
-16.2%
Share-based compensation
18.9
20.9
14.9
-9.6%
Buybacks
126
163
0.0
-23.0%
Dividends paid
41.9
0.0
0.0
Dividend per share
n/a
n/a
$0.00
Diluted shares, weighted
374m
386m
395m
-3.1%
Shares outstanding at period end
347m
355m
371m
-2.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,309
3,582
3,155
+20.3%
Debt
833
832
830
+0.1%
Other liabilities
1,088
1,264
1,635
-14.0%
Total liabilities and equity
6,230
5,678
5,619
+9.7%
Fixed assets
50.1
51.7
44.9
-3.1%
Securities held for sale or to maturity
5,738
5,152
4,983
+11.4%
Cash and equivalents
162
152
99.9
+6.6%
Other assets
280
322
491
-13.2%
Total assets
6,230
5,678
5,619
+9.7%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.