Mgic Investment (MTG) FY2024 results: revenue $1.2 billion, up 4.6% on the year
Mgic Investment Corp. (MTG) reported revenue of $1.2 billion for fiscal 2024, the year ended 31 December 2024, up 4.6% on the year before. Net income was $763 million, up 7.0%, and diluted earnings per share $2.89. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.
Revenue
$1.2 billion
+4.6% on the year
FY2017FY2024
Operating margin
80.2%
78.1% a year earlier
FY2017FY2024
Net income
$763 million
+7.0% on the year
FY2017FY2024
Diluted EPS
$2.89
+16.1% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
725
713
650
+1.7%
Capital expenditure
1.2
2.0
3.3
-41.3%
Free cash flow
724
711
647
+1.8%
Free cash flow margin
59.9%
61.5%
55.1%
Cash from investing
-142
-179
410
Cash from financing
-719
-496
-1,033
Depreciation and amortisation
18.4
35.2
54.3
-47.7%
Share-based compensation
31.3
31.6
24.8
-0.9%
Buybacks
569
337
386
+68.9%
Dividends paid
130
123
111
+6.1%
Diluted shares, weighted
264m
287m
311m
-8.1%
Shares outstanding at period end
248m
272m
293m
-8.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
5,172
5,072
4,643
+2.0%
Debt
n/a
643
663
Other liabilities
1,375
823
908
+67.0%
Total liabilities and equity
6,547
6,538
6,214
+0.1%
Fixed assets
35.7
38.8
41.4
-7.9%
Investments
n/a
n/a
67.0
Securities held for sale or to maturity
5,852
5,723
n/a
+2.2%
Cash and equivalents
229
364
327
-36.9%
Other assets
430
413
5,778
+4.2%
Total assets
6,547
6,538
6,214
+0.1%
10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.