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Radian Group Inc., together with its subsidiaries, provides mortgage insurance in the United States. It aggregates, manages, and distributes mortgage credit risk for the benefit of mortgage lending institutions and mortgage credit investors through private mortgage insurance on residential first-lien mortgage loans. The company also offers private mortgage insurance, specialty insurance, and reinsurance lines. It serves mortgage originators, such as mortgage banks, commercial banks, savings institutions, credit unions, and community banks. The company was formerly known as CMAC Investment Corp. and changed its name to Radian Group Inc. in June 1999. Radian Group Inc. was founded in 1977 and is headquartered in Wayne, Pennsylvania.
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 | $1.2B | - | $583M | $116M | 12.2% | -0.8% | -3.6% |
| 2024 | $1.2B | - | $604M | $-665M | 13.1% | 2.5% | 0.2% |
| 2023 | $1.2B | - | $603M | $521M | 13.7% | -1.1% | -18.8% |
| 2022 | $1.2B | - | $743M | $371M | 19.0% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,190.73 | 1,177.30 | 1,206.30 | 1,197.08 |
| Operating Revenue | - | 1,190.73 | 1,177.30 | 1,206.30 | 1,197.08 |
| Total Expenses | - | 237.95 | 313.42 | 360.69 | 405.86 |
| EBIT | - | 1,037.23 | 950.07 | 929.34 | 859 |
| Interest Income | 0.11 | - | - | - | - |
| Interest Expense | - | 84.45 | 86.19 | 83.73 | 67.78 |
| Net Interest Income | - | -84.45 | -86.19 | -83.73 | -67.78 |
| Other Income Expense | - | 2.45 | 6.44 | 6.60 | 6.48 |
| Interest Income Non Operating | 0.11 | - | - | - | - |
| Interest Expense Non Operating | - | 84.45 | 86.19 | 83.73 | 67.78 |
| Net Non Operating Interest Income Expense | - | -84.45 | -86.19 | -83.73 | -67.78 |
| Pretax Income | - | 952.78 | 863.88 | 845.61 | 791.23 |
| Tax Provision | - | 209.84 | 188.02 | 185.29 | 173.05 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -0.94 | -0.11 |
| Net Income Continuous Operations | - | 742.93 | 675.86 | 660.32 | 618.18 |
| Net Income From Continuing And Discontinued Operation | - | 742.93 | 603.12 | 604.44 | 582.64 |
| Net Income From Continuing Operation Net Minority Interest | - | 742.93 | 675.86 | 660.32 | 618.18 |
| Net Income | - | 742.93 | 603.12 | 604.44 | 582.64 |
| Net Income Common Stockholders | - | 742.93 | 603.12 | 604.44 | 582.64 |
| Net Income Including Noncontrolling Interests | - | 742.93 | 603.12 | 604.44 | 582.64 |
| Normalized Income | - | 742.93 | 675.86 | 663.65 | 618.58 |
| Diluted NI Availto Com Stockholders | - | 742.93 | 603.12 | 604.44 | 582.64 |
| Basic Average Shares | - | 167.93 | 158.14 | 152.46 | 139.44 |
| Diluted Average Shares | - | 170.66 | 160.13 | 154.19 | 140.81 |
| Reconciled Depreciation | - | 76.58 | 57.88 | 61.75 | 46.43 |
| Total Unusual Items | - | 0 | 0 | -4.28 | -0.51 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -4.28 | -0.51 |
| Net Income Discontinuous Operations | - | - | -72.74 | -55.88 | -35.54 |
| Special Income Charges | - | 0 | 0 | -4.28 | -0.51 |
| Other Special Charges | - | - | - | 4.28 | 0.51 |
| Impairment Of Capital Assets | 0 | 0 | 9.80 | 0 | - |
| Depreciation And Amortization In Income Statement | 3.45 | 4.31 | 5.48 | 0 | - |
| Other Operating Expenses | - | 381.15 | 244.79 | 247.62 | 245.76 |
| Amortization | 3.45 | 4.31 | 5.48 | 0 | - |
| Loss Adjustment Expense | - | -338.24 | -42.14 | -2.25 | 66.77 |
| Net Policyholder Benefits And Claims | - | -338.24 | -42.14 | -2.25 | 66.77 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Radian Group Inc.this co. | RDN | $4.5B | 7.67↓ discount | 0.93 | 12.2% | - |
| Axos Financial, Inc. | AX | $5.0B | 11.52 | 1.86 | 16.1% | - |
| CleanSpark, Inc. | CLSK | $4.3B | 11.81 | 1.98 | 16.8% | 6.67 |
| MarketAxess Holdings Inc. | MKTX | $4.3B | 17.38 | 3.74 | 21.5% | 8.95 |
| ServisFirst Bancshares, Inc. | SFBS | $4.3B | 15.41 |
| - |
| - |
| - |
| - |
| 2.30 |
| 15.0% |
| - |
| Fulton Financial Corporation | FULT | $4.2B | 10.70 | 1.27 | 11.9% | - |
| Enova International, Inc. | ENVA | $4.2B | 13.55 | 3.12 | 23.1% | 19.25 |
| Sezzle Inc. | SEZL | $4.1B | 30.56 | 23.96 | 78.4% | 25.25 |
| United Community Banks, Inc. | UCB | $4.0B | 12.12 | 1.09 | 9.0% | - |
| Peer Median | - | 12.83 | 2.14 | 16.5% | 14.10 | |