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Essent vs Mgic Investment: revenue, profit, margins and growth compared

Essent brought in $1.3B of revenue in fiscal 2025, Mgic Investment $1.2B in fiscal 2025. Revenue changed by +1.5% at Essent and +0.5% at Mgic Investment on the year before, so Essent grew faster. Essent kept 54.7% of its revenue as net profit, Mgic Investment 60.8%. Free cash flow was $848.7M at Essent and $851.8M at Mgic Investment.

Side by side, latest fiscal year

ESNTMTG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$1.2B
Revenue growth+1.5%+0.5%
Net income$690M$738.3M
Net margin54.7%60.8%
Free cash flow$848.7M$851.8M
Free cash flow margin67.3%70.2%
Earnings per share (diluted)$6.90$3.14
Cash$123M$369M
Debtn/an/a
Price to earnings9.29.1
Market value$5.7B$5.8B
Dividend yield1.95%n/a
Rank by revenue in sector#172 of 444 · Finance#177 of 444 · Finance

Over the years

Revenue
ESNT FY2018: $719.4MESNT FY2019: $867.6MESNT FY2020: $955.2MESNT FY2021: $1BESNT FY2022: $1BESNT FY2023: $1.1BESNT FY2024: $1.2BESNT FY2025: $1.3BMTG FY2018: $1.1BMTG FY2019: $1.2BMTG FY2020: $1.2BMTG FY2021: $1.2BMTG FY2022: $1.2BMTG FY2023: $1.2BMTG FY2024: $1.2BMTG FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $1.3BMTG $1.2B
Net income
ESNT FY2018: $467.4MESNT FY2019: $555.7MESNT FY2020: $413MESNT FY2021: $681.8MESNT FY2022: $831.4MESNT FY2023: $696.4MESNT FY2024: $729.4MESNT FY2025: $690MMTG FY2018: $670.1MMTG FY2019: $673.8MMTG FY2020: $446.1MMTG FY2021: $635MMTG FY2022: $865.3MMTG FY2023: $712.9MMTG FY2024: $763MMTG FY2025: $738.3MFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $690MMTG $738.3M
Net margin
ESNT FY2018: 65.0%ESNT FY2019: 64.1%ESNT FY2020: 43.2%ESNT FY2021: 66.3%ESNT FY2022: 83.1%ESNT FY2023: 62.8%ESNT FY2024: 58.7%ESNT FY2025: 54.7%MTG FY2018: 59.6%MTG FY2019: 55.5%MTG FY2020: 37.2%MTG FY2021: 53.6%MTG FY2022: 73.8%MTG FY2023: 61.7%MTG FY2024: 63.2%MTG FY2025: 60.8%FY18FY19FY20FY21FY22FY23FY24FY25
ESNT 54.7%MTG 60.8%
Revenue growth
ESNT FY2019: +20.6%ESNT FY2020: +10.1%ESNT FY2021: +7.7%ESNT FY2022: -2.7%ESNT FY2023: +10.9%ESNT FY2024: +12.0%ESNT FY2025: +1.5%MTG FY2019: +8.0%MTG FY2020: -1.2%MTG FY2021: -1.1%MTG FY2022: -1.1%MTG FY2023: -1.5%MTG FY2024: +4.6%MTG FY2025: +0.5%FY19FY20FY21FY22FY23FY24FY25
ESNT +1.5%MTG +0.5%
Free cash flow
ESNT FY2018: $621.3MESNT FY2019: $586.4MESNT FY2020: $725.5MESNT FY2021: $706.8MESNT FY2022: $584.8MESNT FY2023: $759MESNT FY2024: $854.8MESNT FY2025: $848.7MMTG FY2018: $530.3MMTG FY2019: $603.9MMTG FY2020: $729MMTG FY2021: $692.2MMTG FY2022: $646.8MMTG FY2023: $711MMTG FY2024: $723.9MMTG FY2025: $851.8MFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $848.7MMTG $851.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Essent and Mgic Investment

Which is bigger by revenue, Essent or Mgic Investment?

Essent is bigger by revenue: $1.3B in fiscal 2025, against $1.2B for Mgic Investment in fiscal 2025.

Which keeps more of its revenue as profit, Essent or Mgic Investment?

Essent had a net margin of 54.7% in fiscal 2025; Mgic Investment had 60.8% in fiscal 2025.

Which grew revenue faster, Essent or Mgic Investment?

In their latest fiscal years revenue changed by +1.5% at Essent and +0.5% at Mgic Investment.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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