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Dec 31, 2025
Radian Q4 2025 Earnings Report
Radian reported fourth quarter 2025 net income from continuing operations of $159 million with stable revenues and higher mortgage insurance in force.
Key Takeaways
Radian generated $300,512,000 in total revenue for Q4 2025, with net income from continuing operations of $158,802,000 and diluted EPS of $1.15. Mortgage insurance in force reached a record $282.5 billion, while loss ratio increased to 9.1% amid higher new defaults. Liquidity strengthened significantly during the quarter.
Net income from continuing operations was $158.8 million, with diluted EPS of $1.15.
Total revenue reached $300.5 million, driven by $237.2 million in net premiums earned.
Primary mortgage insurance in force grew to a record $282.5 billion.
Holding company liquidity increased to $1.834 billion at quarter-end.
Revenue by Segment
Forward Guidance
Radian expects to complete divestitures by Q3 2026, generate over $600 million in ordinary dividends from Radian Guaranty in 2026, and anticipates the Inigo acquisition to be accretive to earnings and ROE.
Positive Outlook
- Expected over $600 million in ordinary dividends from Radian Guaranty in 2026.
- Inigo acquisition expected to deliver mid-teens EPS accretion in 2026.
- Acquisition projected to add approximately 200 basis points to ROE in 2026.
- Acquisition expected to double total annual revenue.
- Strong liquidity position to support growth and capital return.
Challenges Ahead
- Dividends from Radian Guaranty require prior regulatory approval for at least three years.
- Integration risks associated with the Inigo acquisition.
- Exposure to housing market and macroeconomic volatility.
- Increased new defaults and higher loss ratio in Q4.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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