Mgic Investment Corp. (MTG) intrinsic value & 10-year financials
Mgic Investment Corp. (MTG) has a Graham intrinsic value of $66.37 per share. At $27.85 on Oct 17, 2026, the stock trades 58% below that value. Over the last 10 fiscal years revenue grew 1.5% a year to $1.2B, with an average return on invested capital of 12.8%.
- Graham intrinsic value
- $66.37
- Share price (Oct 17, 2026)
- $27.85
- Price vs Graham value
- 58% below
- Market cap
- $6.5B
- Revenue (FY2025)
- $1.2B
- Revenue growth (10-yr CAGR)
- 1.5%
- ROIC (10-yr avg)
- 12.8%
- Free cash flow (FY2025)
- $851.8M
MTG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.2B | $738.3M | $3.14 | $851.8M | — | 14.3% |
| FY2024 | $1.2B | $763.0M | $2.89 | $723.9M | — | 14.3% |
| FY2023 | $1.2B | $712.9M | $2.49 | $711.0M | — | 13.8% |
| FY2022 | $1.2B | $865.3M | $2.79 | $646.8M | — | 16.2% |
| FY2021 | $1.2B | $635.0M | $1.85 | $692.2M | — | 11.2% |
| FY2020 | $1.2B | $446.1M | $1.29 | $729.0M | — | 8.4% |
| FY2019 | $1.2B | $673.8M | $1.85 | $603.9M | — | 14.6% |
| FY2018 | $1.1B | $670.1M | $1.78 | $530.3M | — | 16.5% |
| FY2017 | $1.1B | $355.8M | $0.95 | $390.6M | — | 9.5% |
| FY2016 | $1.1B | $342.5M | $0.86 | $214.2M | — | 9.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MGIC INVESTMENT CORP has demonstrated mature, steady growth, with revenue compounding at 1.5% annually over the past decade.
MGIC INVESTMENT CORP returns on capital have been average, hovering around 12.8% ROIC over the decade.
Over the decade, MGIC INVESTMENT CORP shows that management has aggressively returned capital to shareholders by retiring 45.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MGIC INVESTMENT CORP is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $66.37 per share.