MGIC Investment Corp
0.0 %
30.07 %
Yet to be announced
Company Overview
MGIC Investment Corporation provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans. It also provides contract underwriting services, as well as reinsurance.
Revenue Sources
After analyzing MGIC Investment Corporation's financial statements and business model, the company's primary revenue stream comes from mortgage insurance premiums, which is a form of risk management product that protects lenders against borrower defaults. While this involves financial risk management, it represents a legitimate service where both parties receive tangible value and does not constitute gambling or other haram activities.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $297.16m | $8.9m | $-8,900,000.0 | $8.9m | 3.00% | 100.00% |
| June 30, 2024 | $296.65m | $8.9m | $-8,900,000.0 | $8.9m | 3.00% | 100.00% |
| March 31, 2024 | $285.46m | $8.9m | $-8,900,000.0 | $8.9m | 3.12% | 100.00% |
| Dec. 31, 2023 | $274.36m | $8.9m | $-8,900,000.0 | $8.9m | 3.24% | 100.00% |
Based on the provided financial data for the last four quarters, interest expense represents a material portion of the company's operations. Interest expense was consistently around $8.9 million per quarter, while interest income shows negative values of similar amounts. This indicates that interest-based activities are integral to the company's business model as a mortgage insurance provider.
Operational Ethics
Based on available information from SEC filings and company reports, there is no evidence of significant ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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