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MBIA Inc., together with its subsidiaries, provides financial guarantee insurance services to public finance markets in the United States. It operates through United States (U.S.) Public Finance Insurance, Corporate, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S. political subdivisions, as well as utilities, airports, health care institutions, higher educational facilities, housing authorities, and other similar agencies and obligations issued by private entities. It also insures non-U.S. public finance and global structured finance, including asset-backed obligations; sovereign-related and sub-sovereign bonds, utilities, and privately issued bonds used for the financing for toll roads, bridges, public transportation facilities, and other types of infrastructure projects; and structured finance and asset-backed obligations comprising residential and commercial mortgages, consumer loans, and structured settlements. as well as offers third-party reinsurance agreements. MBIA Inc. was founded in 1973 and is headquartered in Purchase, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $80M | - | $-177M | $38M | 7.9% | 90.5% | -60.4% |
| 2024 | $42M | - | $-447M | $-176M | 21.4% | 500.0% | -9.0% |
| 2023 | $7M | - | $-491M | $-195M | 29.6% | -95.5% | 141.9% |
| 2022 | $154M | - | $-203M | $-418M | 23.0% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 154 | 7 | 42 | 80 |
| Operating Revenue | - | 154 | 7 | 42 | 80 |
| Total Expenses | - | 302 | 491 | 483 | 261 |
| EBIT | - | 32 | -273 | -232 | 16 |
| Interest Expense | - | 180 | 211 | 209 | 197 |
| Net Interest Income | - | -180 | -211 | -209 | -197 |
| Interest Expense Non Operating | - | 180 | 211 | 209 | 197 |
| Net Non Operating Interest Income Expense | - | -180 | -211 | -209 | -197 |
| Pretax Income | - | -148 | -484 | -441 | -181 |
| Tax Provision | - | 1 | 0 | 0 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -149 | -484 | -441 | -181 |
| Net Income From Continuing And Discontinued Operation | - | -203 | -491 | -447 | -177 |
| Net Income From Continuing Operation Net Minority Interest | - | -149 | -488 | -444 | -175 |
| Net Income | - | -203 | -491 | -447 | -177 |
| Net Income Common Stockholders | - | -203 | -491 | -447 | -177 |
| Net Income Including Noncontrolling Interests | - | -203 | -487 | -444 | -183 |
| Normalized Income | - | -149 | -488 | -444 | -175 |
| Diluted NI Availto Com Stockholders | - | -203 | -491 | -447 | -177 |
| Basic Average Shares | - | 49.80 | 48.21 | 47.44 | 49.28 |
| Diluted Average Shares | - | 49.80 | 48.21 | 47.44 | 49.28 |
| Total Unusual Items | 30 | 4 | 1 | - | - |
| Total Unusual Items Excluding Goodwill | 30 | 4 | 1 | - | - |
| Minority Interests | - | - | -4 | -3 | 6 |
| Net Income Discontinuous Operations | - | -54 | -3 | -3 | -2 |
| Special Income Charges | 30 | 4 | 1 | - | - |
| Other Special Charges | -30 | -4 | -1 | - | - |
| Other Operating Expenses | - | 76 | 98 | 86 | 80 |
| Loss Adjustment Expense | - | 38 | 177 | 184 | -20 |
| Net Policyholder Benefits And Claims | - | 38 | 177 | 184 | -20 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MBIA Inc.this co. | MBI | $291M | -1.65 | -0.13 | 7.9% | - |
| NI Holdings, Inc. | NODK | $299M | - | 1.24 | -4.3% | - |
| John Marshall Bancorp, Inc. | JMSB | $299M | 14.06 | 1.12 | 8.0% | - |
| FS Bancorp, Inc. | FSBW | $297M | 8.91 | 0.97 | 10.8% | - |
| Blue Ridge Bankshares, Inc. | BRBS | $295M | 27.54 | 0.91 |
| - |
| - |
| - |
| 3.3% |
| - |
| First Community Corporation | FCCO | $289M | 15.07 | 1.73 | 11.5% | - |
| FVCBankcorp, Inc. | FVCB | $288M | 13.08 | 1.14 | 8.7% | - |
| Oak Valley Bancorp | OVLY | $283M | 11.84 | 1.36 | 11.5% | - |
| First Western Financial, Inc. | MYFW | $281M | 21.28 | 1.06 | 5.0% | - |
| Peer Median | - | 14.06 | 1.13 | 8.3% | - | |