MGIC INVESTMENT CORP · Surety Insurance

MTG

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The short version

A high-quality, profitable business with steady sales. Institutions are trimming.

Going well

Profitable every year for 10 years
Brings in more cash than it spends
Buying back shares: share count down 25% in 3 years

Money moves

Insiders sold $4.4M in the last 30 days, all through pre-planned sales
Institutions cut 2.9% from their holdings in the quarter ending June 2026 (209 bought, 270 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$28.73-0.2% that day

Company value: $5.9B; Share price times all shares
Price vs profit (P/E): 9.0x; You pay about $9 for each $1 of yearly profit
Price vs sales: 4.9x; Company value is 4.9 times a year of sales
Cash vs value: 4%; Cash as a share of company value
Debt vs value: 11%; Debt as a share of company value

From MTG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$295.4M-2.9% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.2B, down 1.9% from the 12 months before. Over 5 years, sales grew about 0.2% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of MTG. Starting points are the company's recent numbers.

Sales growth-2% a yearRecently: -1.9% a yearProfit margin50%Last 12 months: 59.2%P/E at the end9xToday: 9.0x. Many steady companies trade at 12x to 25xShare count change-5% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.1B

Profit in 5 years$540M

Price these guesses point to$30.64+6.7% vs $28.73 todayAbout +1.3% a year, before dividends

What today's price needs: with a 50% margin and a 9x P/E, sales could shrink about 3.3% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/6Strong

MissReturn on equity 15%+Earns a lot on the money owners have in the business.14.3%
PassDebt under half of equityNot relying on borrowed money.0.13x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.60.8%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$851.8M
PassShare count not growingNot diluting owners. Falling means buybacks.-24.5% in 3 years

Revenue: $1.2B; +0.5% vs prior year
5-year growth: +0.2%/yr; revenue, per year
Total debt: $646.1M; 0.13x equity
Free cash flow: $851.8M; 70.2% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Jul 29

Revenue: $295.4M; -2.9% YoY
EPS: $0.86; vs $0.81
Free cash flow: $184.5M
Share count: -11.4%; vs a year ago

Insider rating

Last 90 days

43Mixed

Pre-planned sales of $5.0M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 2.0
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Distributing-2.9%

Institutions cut 2.9% from their holdings. 209 bought, 270 sold. 3 quarters of net selling in a row.

Shares held by institutions204.8M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-10.1%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.1x · $646.9M debt

Shares outstandingLatest reported

205M

Earnings reports

Last 12

Next reportIn 1 days (est.)Estimated from the same quarter last year

Results filedJul 29
Results filedApr 29
Results filedFeb 2
Results filedOct 29, 2025
Results filedJul 30, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$5.0M3 insiders, 3 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Salvatore A MiosiPresident & COO	Sell	30K	$26.06	$782K	441K	Oct 1Filing ↗
-6.4% of their holdings Pre-planned sale (10b5-1) Filed 1 day after
Timothy J. MattkeChief Executive Officer	Sell	137K	$26.24	$3.6M	844K	Oct 1Filing ↗
-14% of their holdings Pre-planned sale (10b5-1) Also Director Filed 1 day after
Nathaniel H ColsonOfficer EVP, CFO & CRO	Sell	20K	$29.48	$590K	321K	Sep 24Filing ↗
-5.9% of their holdings Pre-planned sale (10b5-1) Filed 1 day after