MGIC Q4 Earnings Exceed Estimates, Revenues Miss Mark, Insurance in Force Rises Y/Y

MGIC Investment Corporation reported Q4 2025 operating net income per share of $0.75, beating estimates by 2.7%. Total operating revenues declined 0.9% YoY to $298.7 million, missing estimates by 2.9%. Insurance in force increased 2.6% YoY to $303.1 billion, while net premiums written declined 0.7% YoY to $230.5 million. Persistency remained unchanged at 84.8%, and new insurance written increased 7.5% YoY to $17.1 billion. Book value per share rose 12.7% YoY to $23.47, and the company repurchased 6.8 million shares for $189.1 million and paid a dividend of $400 million.