Radian Group (RDN) FY2023 results: revenue $1.2 billion, down 1.1% on the year
Radian Group Inc. (RDN) reported revenue of $1.2 billion for fiscal 2023, the year ended 31 December 2023, down 1.1% on the year before. Net income was $603 million, down 18.8%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$1.2 billion
-1.1% on the year
FY2016FY2023
Operating margin
73.4%
80.0% a year earlier
FY2016FY2023
Net income
$603 million
-18.8% on the year
FY2016FY2023
Diluted EPS
$3.77
-13.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
529
388
557
+36.3%
Capital expenditure
8.5
17.7
12.6
-51.7%
Free cash flow
521
371
545
+40.5%
Free cash flow margin
44.2%
31.1%
40.9%
Cash from investing
-301
-5.2
-1.9
Cash from financing
-265
-479
-497
Depreciation and amortisation
12.0
15.0
16.0
-20.0%
Share-based compensation
41.1
38.1
28.4
+8.1%
Buybacks
133
400
399
-66.7%
Dividends paid
146
135
103
+7.7%
Dividend per share
$0.90
$0.80
$0.55
+12.5%
Diluted shares, weighted
160m
171m
190m
-6.2%
Shares outstanding at period end
153m
157m
175m
-2.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,398
3,919
4,259
+12.2%
Other liabilities
3,196
3,144
3,580
+1.6%
Total liabilities and equity
7,594
7,064
7,839
+7.5%
Fixed assets
63.8
71.0
75.1
-10.1%
Goodwill
0.0
9.8
9.8
Intangible assets
0.0
n/a
9.8
Securities held for sale or to maturity
5,188
5,018
5,517
+3.4%
Cash and equivalents
19.0
56.2
151
-66.2%
Other assets
2,323
1,909
2,076
+21.7%
Total assets
7,594
7,064
7,839
+7.5%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.