Mgic Investment (MTG) FY2022 results: revenue $1.2 billion, down 1.1% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.2 billion for fiscal 2022, the year ended 31 December 2022, down 1.1% on the year before. Net income was $865 million, up 36.3%, and diluted earnings per share $2.79. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.
Revenue
$1.2 billion
-1.1% on the year
FY2015FY2022
Operating margin
92.9%
67.6% a year earlier
FY2015FY2022
Net income
$865 million
+36.3% on the year
FY2015FY2022
Diluted EPS
$2.79
+50.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
650
696
732
-6.6%
Capital expenditure
3.3
4.1
3.3
-20.9%
Free cash flow
647
692
729
-6.6%
Free cash flow margin
55.1%
58.4%
60.8%
Cash from investing
410
-161
-773
Cash from financing
-1,033
-527
168
Depreciation and amortisation
54.3
66.0
57.8
-17.8%
Share-based compensation
24.8
17.1
13.8
+44.8%
Buybacks
386
291
120
+32.6%
Dividends paid
111
94.2
82.1
+17.8%
Dividend per share
n/a
n/a
$0.06
Diluted shares, weighted
311m
351m
359m
-11.4%
Shares outstanding at period end
293m
320m
339m
-8.4%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,643
4,861
4,699
-4.5%
Debt
663
1,147
1,243
-42.2%
Other liabilities
908
1,317
1,412
-31.0%
Total liabilities and equity
6,214
7,325
7,355
-15.2%
Fixed assets
41.4
45.6
47.1
-9.2%
Investments
67.0
n/a
n/a
Securities held for sale or to maturity
n/a
6,588
6,662
Cash and equivalents
327
285
288
+15.0%
Other assets
5,778
407
358
+1,319.2%
Total assets
6,214
7,325
7,355
-15.2%
10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.