MGIC Investment (MTG) Misses Q4 2025 Revenue Estimates as Premium Growth Stalls

MGIC Investment Corp. (NYSE: MTG) reported Q4 2025 revenue of $298.7 million, missing Wall Street estimates and reflecting a 0.9% year-over-year decline. Non-GAAP earnings of $0.75 per share matched consensus forecasts. The mortgage insurer ended 2025 with over $303 billion of insurance in-force, according to CEO Tim Mattke. Net premiums earned accounted for 82.7% of MTG’s revenue over the past five years, underscoring its reliance on core underwriting. Trailing 12-month revenue stood at $1.21 billion—nearly flat versus five years ago—though two-year annualized revenue growth improved to 2.5%. Book value per share (BVPS) rose 12.3% annually over the last two years, reaching $23.47 from $18.61, following a 11.1% five-year compound growth rate. The stock held steady at $27.54 post-earnings.