R
RADIAN GROUP INC
Period
FY 2025
Revenue
$1.20B
Net Income
$582.64M
Total Assets
$8.12B
Equity
$4.78B
Shares Out
132.98M
Op. Cash Flow
$119.86M
Business
Radian Group is a leading U.S. private mortgage insurer that aggregates, manages and distributes mortgage credit risk for mortgage lending institutions and investors through private mortgage insurance on residential first-lien mortgage loans. The company's core business is its Mortgage Insurance segment, which serves the GSE-approved insurable market. In February 2026, Radian completed its acquisition of Inigo, a Lloyd's specialty insurer, transforming into a global multi-line specialty insurer, while planning to divest its Mortgage Conduit, Title and Real Estate Services businesses.
Summary from 10-K filed 2026-02-20
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net premiums earned (Note 8) | 942 | 939 | 909 | 981 | 1,037 | |
| Net investment income (Note 7) | 249 | 265 | 252 | 196 | 148 | |
| Net gains (losses) on investments and other financial instruments (includes net realized gains (losses) on investments of $(3,890), $(7,821) and $(10,735)) (Note 7) | −24,000 | −4 | 9 | −81 | 16 | |
| Other income | 6 | 7 | 6 | 2 | 3 | |
| Total revenues | 1,197 | 1,206 | 1,177 | 1,191 | 1,330 | |
| Provision for losses | 67 | −2 | −42 | −338 | 21 | |
| Policy acquisition costs | 25 | 27 | 25 | 24 | 29 | |
| Other operating expenses | 246 | 248 | 245 | 381 | 324 | |
| Interest expense (Note 12) | 68 | 88 | 86 | 84 | 84 | |
| Total expenses | 406 | 361 | 313 | 238 | 565 | |
| Pretax income from continuing operations | 791 | 846 | 864 | 953 | 765 | |
| Income tax provision | 173 | 185 | 188 | 210 | 164 | |
| Net income from continuing operations | 618 | 660 | 676 | 743 | 601 | |
| Income (loss) from discontinued operations, net of tax | −36 | −56 | −73 | — | — | |
| Net income | 583 | 604 | 603 | 743 | 601 | |
| Net income from continuing operations, Basic | 4.43 | 4.33 | 4.27 | — | — | |
| Income (loss) from discontinued operations, net of tax, Basic | −0.25 | −0.37 | −0.46 | — | — | |
| Basic net income per share | 4.18 | 3.96 | 3.81 | 4.42 | 3.19 | |
| Net income from continuing operations, Diluted | 4.39 | 4.28 | 4.22 | — | — | |
| Income (loss) from discontinued operations, net of tax, Diluted | −0.25 | −0.36 | −0.45 | — | — | |
| Diluted net income per share | 4.14 | 3.92 | 3.77 | 4.35 | 3.16 | |
| Weighted average number of common shares outstanding-basic (in shares) | 139 | 152 | 158 | 168 | 188 | |
| Weighted average number of common and common equivalent shares outstanding-diluted (in shares) | 141 | 154 | 160 | 171 | 190 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Fixed-maturities available for sale-at fair value (amortized cost of $4,550,954 and $5,498,422) | 4,272 | 5,062 | 5,188 | 5,018 | 5,517 | |
| Trading securities-at fair value (amortized cost of $70,050 and $89,479) | 66 | 83 | 106 | 116 | 257 | |
| Equity securities-at fair value (cost of $45,619 and $144,579) | 37 | 138 | 89 | 149 | 184 | |
| Other long-term invested assets-at fair value | 10 | 8 | 9 | — | — | |
| Short-term investments-at fair value (includes $62,212 and $125,723 of reinvested cash collateral held under securities lending agreements) | 1,603 | 411 | 661 | 402 | 552 | |
| Total investments | 5,987 | 5,702 | 6,086 | 5,693 | 6,514 | |
| Cash | 25 | 19 | 19 | 56 | 151 | |
| Restricted cash | 10,000 | 30,000 | 1 | 377,000 | 1 | |
| Accrued investment income | 40 | 44 | 46 | 40 | 33 | |
| Accounts and notes receivable | 120 | 121 | 124 | 120 | 124 | |
| Reinsurance recoverables (includes $1,788 and $415 for paid losses) | 49 | 35 | 26 | 26 | 68 | |
| Deferred policy acquisition costs | 19 | 18 | 19 | 18 | 16 | |
| Property and equipment, net | 17 | 23 | 64 | 71 | 75 | |
| Prepaid federal income taxes (Note 10) | 1,100 | 921 | 750 | 596 | 354 | |
| Other assets | 334 | 359 | 460 | 427 | 483 | |
| Assets held for sale (Note 3) | 474 | 1,447 | — | — | — | |
| Total assets | 8,122 | 8,690 | 7,594 | 7,064 | 7,839 | |
| Reserve for losses and LAE (Note 11) | 400 | 354 | 370 | 427 | 829 | |
| Unearned premiums | 159 | 188 | 225 | 271 | 329 | |
| Senior notes (Note 12) | 1,068 | 1,065 | 1,418 | 1,414 | 1,409 | |
| Other borrowings (Note 12) | 41 | 46 | 119 | 156 | 151 | |
| Net deferred tax liability (Note 10) | 942 | 772 | 590 | 391 | 338 | |
| Other liabilities (Note 9) | 366 | 399 | 474 | 334 | 297 | |
| Liabilities held for sale (Note 3) | 364 | 1,240 | — | — | — | |
| Total liabilities | 3,341 | 4,066 | 3,196 | 3,144 | 3,580 | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Common stock ($0.001 par value; 485,000 shares authorized; 2025: 156,913 and 135,498 shares issued and outstanding, respectively; 2024: 168,350 and 147,569 shares issued and outstanding, respectively) | 157,000 | 168,000 | 173,000 | — | — | |
| Treasury stock, at cost (2025: 21,415 shares; 2024: 20,782 shares) | −990 | −968 | −946 | −931 | — | |
| Additional paid-in capital | 861 | 1,247 | 1,431 | 1,520 | 1,878 | |
| Retained earnings | 5,132 | 4,695 | 4,244 | 3,787 | 3,181 | |
| Accumulated other comprehensive income (loss) (Note 15) | −222 | −350 | −331 | −457 | 120 | |
| Total stockholders equity | 4,782 | 4,624 | 4,398 | 3,919 | 4,259 | |
| Total liabilities and stockholders equity | 8,122 | 8,690 | 7,594 | 7,064 | 7,839 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Less: Income (loss) from discontinued operations, net of tax | −36 | −56 | −73 | — | — | |
| Net income from continuing operations | 618 | 660 | 676 | — | — | |
| Loss on extinguishment of debt | 513,000 | 4 | 0 | 0 | — | |
| Depreciation, other amortization, and other impairments, net | 46 | 62 | 58 | 72 | 72 | |
| Deferred income tax provision | 139 | 166 | 173 | 207 | 162 | |
| Accrued investment income | 4 | 711,000 | −5 | −7 | 1 | |
| Accounts and notes receivable | 793,000 | −2 | −11 | 4 | −3 | |
| Reinsurance recoverable | −14 | −9 | −359,000 | 42 | 5 | |
| Deferred policy acquisition costs | −1 | 972,000 | −258,000 | −2 | 2 | |
| Prepaid federal income tax | −135 | −171 | −154 | −242 | −143 | |
| Other assets | 36 | 28 | 39 | 66 | 65 | |
| Unearned premiums | −29 | −37 | −46 | −58 | −120 | |
| Reserve for losses and LAE | 46 | −10 | −56 | −402 | −20 | |
| Reinsurance funds withheld | 2 | −9 | −22 | −76 | −50 | |
| Other liabilities | 8 | −33 | −28 | −40 | −3 | |
| Net cash provided by (used in) operating activities, continuing operations | 720 | 655 | 613 | — | — | |
| Net cash provided by (used in) operating activities, discontinued operations | −600 | −1,319 | −83 | — | — | |
| Net cash provided by (used in) operating activities | 120 | −664 | 529 | 388 | 557 | |
| Available for sale securities | 976 | 512 | 332 | 399 | 735 | |
| Trading securities | 8 | 0 | 9 | 9 | 8 | |
| Equity securities | 114 | 46 | 68 | 8 | 37 | |
| Available for sale securities | 853 | 895 | 485 | 790 | 1,226 | |
| Trading securities | 11 | 17 | 2 | 102 | 17 | |
| Available for sale securities | −766 | −1,341 | −928 | −1,415 | −1,980 | |
| Equity securities | −32 | −23 | −8 | −25 | −106 | |
| Short-term investments, net | −1,247 | 175 | −182 | 151 | 68 | |
| Other assets and other invested assets, net | −9 | 1 | −45,000 | −7 | 6 | |
| Additions to property and equipment | −4 | −2 | −9 | −18 | −13 | |
| Net cash provided by (used in) investing activities, continuing operations | −95 | 279 | −230 | — | — | |
| Net cash provided by (used in) investing activities, discontinued operations | 222 | 49 | −70 | — | — | |
| Net cash provided by (used in) investing activities | 127 | 328 | −301 | −5 | −2 | |
| Dividends and dividend equivalents paid | −146 | −152 | −146 | −135 | −103 | |
| Issuance of common stock | 1 | 928,000 | 2 | 1 | 1 | |
| Repurchases of common stock, including excise taxes paid | −432 | −225 | −133 | −400 | −399 | |
| Issuance of senior notes | 0 | 617 | 0 | 0 | 0 | |
| Redemption of senior notes | 0 | −977 | 0 | 0 | — | |
| Proceeds (repayments) of FHLB advances, net (with terms three months or less) | 592,000 | −24 | −11 | — | — | |
| Proceeds from FHLB advances (with terms greater than three months | 45 | 7 | 6 | — | — | |
| Repayments of FHLB advances (with terms greater than three months) | −50 | −32 | −53 | — | — | |
| Proceeds from credit facility borrowings | 50 | 0 | 0 | — | — | |
| Repayments of credit facility borrowings | −50 | 0 | 0 | — | — | |
| Credit facility commitment fees paid | −4 | −812,000 | −904,000 | −814,000 | −3 | |
| Proceeds (repayments) related to cash collateral for loaned securities, net | −64 | −24 | 50 | 51 | — | |
| Net cash provided by (used in) financing activities, continuing operations | −649 | −810 | −287 | — | — | |
| Net cash provided by (used in) financing activities, discontinued operations | 406 | 1,168 | 22 | — | — | |
| Net cash provided by (used in) financing activities | −243 | 357 | −265 | −479 | −497 | |
| Increase (decrease) in cash and restricted cash | 4 | 21 | −36 | −96 | 58 | |
| Income taxes paid (refunded), continuing operations (Note 10) | 137 | 173 | 154 | — | — | |
| Income taxes paid (refunded), discontinued operations (Note 10) | 0 | −61,000 | 37,000 | — | — | |
| Interest paid, continuing operations | 64 | 89 | 83 | 79 | 79 | |
| Interest paid, discontinued operations | 27 | 19 | 3 | — | — | |
| Transfer from residential mortgage loans held for sale to securitized residential mortgage loans held for investment, discontinued operations | 768 | 779 | 0 | 0 | — | |
| Retention of mortgage servicing and other related rights from residential mortgage loan sales, discontinued operations | 7 | 3 | 41,000 | 0 | — | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities, continuing operations | 0 | 0 | 1 | — | — | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities, discontinued operations | 1 | 1 | 0 | — | — |
Filings
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Frequently asked questions
What is RADIAN GROUP INC's CIK number?
RADIAN GROUP INC's SEC CIK number is 0000890926 (890926). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find RADIAN GROUP INC's SEC filings?
All of RADIAN GROUP INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did RADIAN GROUP INC last report earnings?
RADIAN GROUP INC (RDN) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-210841). This is RADIAN GROUP INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is RADIAN GROUP INC's most recent earnings 8-K?
RADIAN GROUP INC's latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-210841. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View RADIAN GROUP INC's latest earnings 8-K →
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