MGIC Investment vs Reinsurance Group of America
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KIRA’s take AI analyst
I put MGIC Investment and Reinsurance Group of America side by side, using each one’s latest annual report. Here is what stands out:
- Reinsurance Group of America is the larger business, with $23.7B of revenue in fiscal 2025 against $1.2B for MGIC Investment, about 20 times as much.
- Reinsurance Group of America grew revenue faster (7.2%, against 0.5%).
- Investors pay more for each dollar of Reinsurance Group of America’s earnings: a P/E of 11.6x against 9.0x for MGIC Investment.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
MGIC Investment
MTG
3/5
Net marginReturn on equityShare count change
Reinsurance Group of America
RGA
2/5
Revenue growth5-year growth
Side by side
Best in the row
| Latest fiscal year | MTG FY25 | RGA FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.1B | $17.5B |
| Revenue | $1.2B | $23.7B |
| Free cash flow | $852M | — |
| Net income | $738M | $1.2B |
| Growth | ||
| Revenue growth | 0.5% | 7.2% |
| 5-year growth | 0.2% | 10.2% |
| Share count change | −11.0% | −0.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 60.8% | 5.0% |
| FCF margin | 70.2% | — |
| Return on capital | — | — |
| Return on equity | 14.3% | 9.7% |
| Balance sheet | ||
| Net debt | — | $1.2B |
| Net debt / EBITDA | — | 0.6x |
| Dividends and buybacks | $921M | $414M |
| Valuation & quality | ||
| P/E | 9.0x | 11.6x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.