Radian Group (RDN) FY2022 results: revenue $1.2 billion, down 10.5% on the year
Radian Group Inc. (RDN) reported revenue of $1.2 billion for fiscal 2022, the year ended 31 December 2022, down 10.5% on the year before. Net income was $743 million, up 23.7%, and diluted earnings per share $4.35. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$1.2 billion
-10.5% on the year
FY2015FY2022
Operating margin
80.0%
57.5% a year earlier
FY2015FY2022
Net income
$743 million
+23.7% on the year
FY2015FY2022
Diluted EPS
$4.35
+37.7% 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
388
557
658
-30.3%
Capital expenditure
17.7
12.6
17.0
+40.2%
Free cash flow
371
545
641
-31.9%
Free cash flow margin
31.1%
40.9%
44.6%
Cash from investing
-5.2
-1.9
-883
Cash from financing
-479
-497
223
Depreciation and amortisation
15.0
16.0
18.3
-6.2%
Share-based compensation
38.1
28.4
19.2
+34.2%
Buybacks
400
399
226
+0.3%
Dividends paid
135
103
97.5
+31.1%
Dividend per share
$0.80
$0.55
n/a
+46.8%
Diluted shares, weighted
171m
190m
197m
-10.3%
Shares outstanding at period end
157m
175m
192m
-10.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,919
4,259
4,284
-8.0%
Other liabilities
3,144
3,580
3,664
-12.2%
Total liabilities and equity
7,064
7,839
7,948
-9.9%
Fixed assets
71.0
75.1
80.5
-5.5%
Goodwill
9.8
9.8
9.8
0.0%
Intangible assets
n/a
9.8
13.2
Securities held for sale or to maturity
5,018
5,517
5,723
-9.1%
Cash and equivalents
56.2
151
87.9
-62.8%
Other assets
1,909
2,076
2,033
-8.1%
Total assets
7,064
7,839
7,948
-9.9%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.