Mgic Investment (MTG) FY2021 results: revenue $1.2 billion, down 1.1% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.2 billion for fiscal 2021, the year ended 31 December 2021, down 1.1% on the year before. Net income was $635 million, up 42.3%, and diluted earnings per share $1.85. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$1.2 billion
-1.1% on the year
FY2014FY2021
Operating margin
67.6%
46.6% a year earlier
FY2014FY2021
Net income
$635 million
+42.3% on the year
FY2014FY2021
Diluted EPS
$1.85
+43.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
696
732
610
-4.9%
Capital expenditure
4.1
3.3
5.6
+24.3%
Free cash flow
692
729
604
-5.0%
Free cash flow margin
58.4%
60.8%
49.7%
Cash from investing
-161
-773
-422
Cash from financing
-527
168
-173
Depreciation and amortisation
66.0
57.8
48.8
+14.2%
Share-based compensation
17.1
13.8
18.9
+24.0%
Buybacks
291
120
126
+142.4%
Dividends paid
94.2
82.1
41.9
+14.8%
Dividend per share
n/a
$0.06
n/a
Diluted shares, weighted
351m
359m
374m
-2.2%
Shares outstanding at period end
320m
339m
347m
-5.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,861
4,699
4,309
+3.5%
Debt
1,147
1,243
833
-7.8%
Other liabilities
1,317
1,412
1,088
-6.8%
Total liabilities and equity
7,325
7,355
6,230
-0.4%
Fixed assets
45.6
47.1
50.1
-3.2%
Securities held for sale or to maturity
6,588
6,662
5,738
-1.1%
Cash and equivalents
285
288
162
-1.1%
Other assets
407
358
280
+13.8%
Total assets
7,325
7,355
6,230
-0.4%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.