Radian Group Inc. RDN

FinancialsInsuranceUnited States of America

Last close 35.54 USD on Nov 1, 2026, +0.9% year to date

Quant rating

Quant rating B Rank 155 of 799 in Financials

Growth C 438 of 799
Valuation A 19 of 799
Quality B 153 of 799
Revisions C 392 of 799
Momentum C 486 of 799

Wall Street consensus Buy (1.71)Average target 40.39 USD +13.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.7B
Enterprise value: 5.8B
52-week range: 30.54 – 41.03
3-year range: 25.07 – 41.03
Dividend yield: 2.87%
Beta (5 years): 0.71
Shares outstanding: 132M
Next earnings: Nov 4, 2026

About the company

Radian Group Inc. is a multi-line specialty insurer. The Company, through its subsidiaries, provides private mortgage insurance to customers in the United States. The Company operates through two segments, Mortgage and Specialty. The Mortgage segment provides credit-related insurance coverage to mortgage lending institutions and mortgage credit investors, principally through private mortgage insurance on residential first-lien mortgage loans. It provides mortgage insurance products and services through its wholly owned subsidiary, Radian Guaranty. The Specialty segment offers data-driven specialty insurance solutions, serving some of the commercial and industrial enterprises. Its Mortgage Insurance products are Primary Mortgage Insurance and Other Mortgage Insurance Products. Its Primary Mortgage Insurance provides protection against mortgage defaults at a specified coverage percentage.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	948	946	916	1,076	1,166	–
Revenue growth	0.3%	3.3%	−14.9%	−7.8%	−4.7%	−5.0%
EPS (basic, normalized)	4.39	4.11	3.88	4.87	3.15	–
EPS growth	6.8%	5.9%	−20.3%	54.6%	–	–
Gross margin	–	–	–	–	–	–
Net margin	51.6%	54.7%	57.9%	62.4%	45.2%	54.4%
ROE	13.1%	14.1%	14.9%	20.3%	14.1%	15.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	697
Net debt (mil)	–
Total equity (mil)	4,808
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	948	+0.3%	6.1x	35.29	+11.7%	1.0x	4.39	+6.8%	8.1x
2026	2,001	+111.0%	2.9x	37.78	+7.1%	0.9x	4.83	+10.1%	7.4x
2027	2,155	+7.7%	2.7x	42.27	+11.9%	0.8x	5.15	+6.6%	6.9x
2028	2,209	+2.5%	2.6x	46.80	+10.7%	0.8x	5.14	−0.2%	6.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,001	0.0%	−2.3%	+69.6%	4.83	−0.7%	−7.2%	−2.6%
2027	2,155	0.0%	−3.4%	+75.0%	5.15	−1.0%	−4.8%	−0.6%
2028	2,209	0.0%	−0.8%	+110.8%	5.14	−1.4%	−6.4%	−7.7%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	236	238	239	239	237	238	237	237	403	504
Sales mean (mil)	237	238	241	243	243	239	239	238	239	537
Surprise	−0.3%	−0.1%	−0.7%	−1.7%	−2.5%	−0.6%	−0.8%	−0.1%	+68.1%	−6.2%
EPS reported	1.03	0.99	1.03	1.09	0.99	1.01	1.11	1.15	1.27	1.14
EPS mean	0.84	0.90	0.91	0.92	0.96	0.98	1.02	1.09	1.22	1.34
Surprise	+22.6%	+10.2%	+13.3%	+18.3%	+3.1%	+3.2%	+9.1%	+6.0%	+3.9%	−14.6%

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
RDN Radian Group Inc.	4.7B	13.1%	51.6%	0.99x	7.4x	6.9x	0.9x	0.8x
MRSH Marsh & McLennan Companies, Inc.	95.4B	33.4%	15.4%	6.50x	19.1x	17.5x	6.4x	5.5x
HIG The Hartford Insurance Group, Inc.	35.5B	21.7%	13.5%	1.89x	9.8x	9.7x	1.8x	1.6x
ACGL Arch Capital Group Ltd.	34.7B	16.4%	22.7%	1.51x	10.6x	10.7x	1.5x	1.4x
FNF Fidelity National Financial Inc	10.9B	17.8%	4.2%	1.46x	8.2x	7.5x	1.2x	1.1x
AXS AXIS Capital Holdings Limited	7.5B	16.5%	14.9%	1.20x	8.6x	7.8x	1.3x	1.1x
Mean		19.8%	20.4%	2.26x	10.6x	10.0x	2.2x	1.9x
Median		17.1%	15.2%	1.48x	9.2x	8.8x	1.4x	1.2x

Technical analysis

1M+7.7%
3M−8.9%
1Y+9.6%
3Y+56.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Radian Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	948	946	916	1,076	1,166	1,224
Other revenue	250	261	251	115	164	214
Total revenue	1,198	1,207	1,166	1,191	1,330	1,439
Losses, benefits and adjustments	−4.3	2.8	4.6	23.9	29.0	31.0
Amortization of policy acquisition costs	–	–	–	–	–	–
Selling, general & administrative expenses	265	259	265	–	–	–
Depreciation/amortization	–	–	–	4.3	3.5	5.1
Interest expense (income), operating	–	–	–	–	–	–
Other operating expenses	77.7	15.4	−42.1	125	448	852
Operating income	860	930	939	1,037	849	551
Net interest income (expense)	−69.0	−84.0	−75.3	−84.5	−84.3	−71.2
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	791	846	864	953	765	479
Provision for taxes	173	185	188	210	164	85.8
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	618	660	676	743	601	394
Extraordinary items	−35.5	−55.9	−72.7	–	–	–
Net income	583	604	603	743	601	394
Basic weighted average shares (mil)	139	152	158	168	188	195
Diluted weighted average shares (mil)	141	154	160	171	190	197
Basic EPS, normalized	4.39	4.11	3.88	4.87	3.15	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Radian Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	120	121	124	120	124	121
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	26.2	35.0	80.1	92.1	107	113
Goodwill	–	–	0	9.8	9.8	9.8
Intangibles	–	–	0	5.5	9.8	13.2
Insurance receivables	–	–	–	–	–	–
Long-term investments	6,129	5,841	6,289	5,806	6,618	6,788
Note receivable	–	–	–	–	–	–
Other long-term assets	474	1,447	1.1	0.4	1.5	6.2
Deferred policy acquisition costs	19.0	17.7	18.7	18.5	16.3	18.3
Other assets	1,329	1,208	1,062	956	802	789
Total assets	8,122	8,690	7,594	7,064	7,839	7,948
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	22.1	29.8	44.7	49.4	53.5	53.4
Policy liabilities	559	543	726	850	1,386	1,576
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	33.3	–	–	–	–	–
Long-term debt	1,076	1,111	1,537	1,569	1,560	1,582
Minority interest	–	–	–	–	–	–
Other liabilities	1,650	2,382	888	675	581	452
Total liabilities	3,341	4,066	3,196	3,144	3,580	3,664
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.2	0.2	0.2	0.2	0.2	0.2
Additional paid-in capital	861	1,247	1,431	1,520	1,878	2,246
Retained earnings (accumulated deficit)	5,132	4,695	4,244	3,787	3,181	2,685
Treasury stock	−990	−968	−946	−931	−921	−910
Other equity	−222	−350	−331	−457	120	264
Total equity	4,782	4,624	4,398	3,919	4,259	4,284
Total liabilities & shareholders' equity	8,122	8,690	7,594	7,064	7,839	7,948

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Radian Group Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	583	604	603	743	601	394
Depreciation, depletion & amortization	46.4	78.8	79.1	76.6	75.5	71.7
Deferred taxes	–	–	–	–	–	–
Non-cash items	−425	−1,114	144	203	162	102
Changes in working capital	−83.8	−233	−296	−635	−281	91.0
Cash from operations	120	−664	529	388	557	658
Investing activities
Capital expenditures	−4.2	−3.2	−16.3	−17.7	−12.6	−17.0
Other investing cash flows	131	331	−285	12.5	10.7	−866
Cash from investing	127	328	−301	−5.2	−1.9	−883
Financing activities
Financing cash flow items	338	−24.5	−0.9	−0.8	−3.3	−2.3
Cash dividends paid	−146	−152	−146	−135	−103	−97.5
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−436	534	−118	−343	−390	322
Cash from financing	−243	357	−265	−479	−497	223
Foreign exchange effects	–	–	–	–	0	0
Net change in cash	4.0	21.4	−36.5	−96.1	58.5	−2.1
Free cash flow	116	−667	513	371	545	641

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.