RADIAN GROUP INC RDN

Financials SIC 6351 - Surety Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers derived NYSE

As a leading U.S. private mortgage insurer, Radian provides solutions that expand access to affordable, responsible and sustainable homeownership and helps borrowers achieve their dream of owning a home. As of December 31, 2025, we had one reportable business segment, Mortgage Insurance.

Our Mortgage Insurance segment aggregates, manages and distributes U.S. mortgage credit risk for the benefit of mortgage lending institutions and mortgage credit investors, principally through private mortgage insurance on residential first-lien mortgage loans.

In September 2025, following a comprehensive strategic review, we announced that we had entered into a definitive agreement to acquire Inigo, a Lloyd's specialty insurer, as part of the Company's planned strategic transformation to a global multi-line specialty insurer. The acquisition was completed on February 2, 2026; see "Inigo Acquisition" below for additional information. Also, following this comprehensive strategic review, in September 2025 we announced the planned divestiture of our Mortgage Conduit, Title and Real Estate Services businesses, which is expected to be completed no later than the end of the third quarter of 2026.

Last close 35.75 2026-10-23
Market cap $4.73B 2026-06-30 share count
52-week range 30.53 - 41.05

Valuation FY2025 figures against the last close

P/S4.0x
P/E8.6x
P/FCF40.9x
EV/EBITDA—
Dividend yield3.1%
Diluted EPS4.14

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.20B$1.21B$1.18B$1.19B$1.33B$1.44B$1.53B$1.27B$1.22B$1.24B
Cost of revenue —$38.3M$38.5M$82.4M$103.7M$86.1M$108.3M$98.1M$104.6M$114.2M
Gross profit —$1.17B$1.14B$1.11B$1.23B$1.35B$1.42B$1.17B$1.12B$1.12B
Total operating expenses $405.9M$360.7M$313.4M$237.9M$565.1M$959.2M$678.0M$588.8M$874.9M$754.8M
Interest expense $68.3M$88.0M$86.2M$84.5M$84.3M$71.2M$56.3M$61.5M$62.8M$81.1M
Pre-tax income $791.2M$845.6M$863.9M$952.8M$764.8M$479.4M$849.0M$684.2M$346.7M$483.7M
Income tax $173.0M$185.3M$188.0M$209.8M$164.2M$85.8M$176.7M$78.2M$225.6M$175.4M
Net income $582.6M$604.4M$603.1M$742.9M$600.7M$393.6M$672.3M$606.0M$121.1M$308.3M
EPS, basic 4.183.963.814.423.192.013.222.830.561.46
EPS, diluted 4.143.923.774.353.162.003.202.770.551.37
Shares, diluted (wtd. avg.) 140.8M154.2M160.1M170.7M190.3M196.6M210.3M218.6M220.4M229.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $24.8M$19.2M$20.1M$56.6M$152.6M$94.1M$96.3M$107.0M$96.2M$61.8M
Property, plant and equipment $17.2M$23.4M$63.8M$71.0M$75.1M$80.5M$87.9M$37.1M$38.3M$70.7M
Goodwill —$0$0$9.8M$9.8M$9.8M————
Other intangibles —$0$0—$9.8M$13.2M$18.4M$44.9M$53.3M$81.1M
Total assets $8.12B$8.69B$7.59B$7.06B$7.84B$7.95B$6.81B$6.31B$5.90B$5.86B
Long-term debt ————————$1.03B$1.07B
Total liabilities $3.34B$4.07B$3.20B$3.14B$3.58B$3.66B$2.76B$2.83B$2.90B$2.99B
Retained earnings $5.13B$4.70B$4.24B$3.79B$3.18B$2.68B$2.39B$1.72B$1.12B$997.9M
Total equity $4.78B$4.62B$4.40B$3.92B$4.26B$4.28B$4.05B$3.49B$3.00B$2.87B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $119.9M-$663.6M$529.4M$388.3M$557.1M$658.4M$694.4M$677.8M$360.6M$381.7M
Depreciation and amortisation $10.0M$15.0M$12.0M$15.0M$16.0M$18.3M$20.8M$19.4M$58.0M$5.6M
Capital expenditure $4.2M$1.6M$8.5M$17.7M$12.6M—————
Investing cash flow $127.3M$327.7M-$300.8M-$5.2M-$1.9M-$883.2M-$302.0M-$689.4M-$201.5M-$176.1M
Financing cash flow -$243.1M$357.2M-$265.1M-$479.2M-$496.8M$222.6M-$403.1M$22.4M-$125.1M-$203.3M
Dividends paid $145.6M$152.0M$145.9M$135.4M$103.3M$97.5M$2.1M$2.1M$2.2M$2.1M
Buybacks $431.9M$225.1M$133.3M$400.2M$399.1M$226.3M$300.2M$50.1M$6.0K$100.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-061383.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B 2B Revenue, FY2016: 1.2B Gross profit, FY2016: 1.1B Net income, FY2016: 308.3M Revenue, FY2017: 1.2B Gross profit, FY2017: 1.1B Net income, FY2017: 121.1M Revenue, FY2018: 1.3B Gross profit, FY2018: 1.2B Net income, FY2018: 606M Revenue, FY2019: 1.5B Gross profit, FY2019: 1.4B Net income, FY2019: 672.3M Revenue, FY2020: 1.4B Gross profit, FY2020: 1.4B Net income, FY2020: 393.6M Revenue, FY2021: 1.3B Gross profit, FY2021: 1.2B Net income, FY2021: 600.7M Revenue, FY2022: 1.2B Gross profit, FY2022: 1.1B Net income, FY2022: 742.9M Revenue, FY2023: 1.2B Gross profit, FY2023: 1.1B Net income, FY2023: 603.1M Revenue, FY2024: 1.2B Gross profit, FY2024: 1.2B Net income, FY2024: 604.4M Revenue, FY2025: 1.2B Net income, FY2025: 582.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.24B $1.22B $1.27B $1.53B $1.44B $1.33B $1.19B $1.18B $1.21B $1.20B
Gross profit $1.12B $1.12B $1.17B $1.42B $1.35B $1.23B $1.11B $1.14B $1.17B —
Net income $308.3M $121.1M $606.0M $672.3M $393.6M $600.7M $742.9M $603.1M $604.4M $582.6M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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