What is MBIA's earnings per share (EPS)?

MBIA (MBI) reported diluted earnings per share of -$3.58 for fiscal year 2025. This represents a 62.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

MBIA Financials

MBI

Trailing 12 months to June 30, 2026

Revenue $94.0M -8.7% YoY

Net Income -$142.0M -121.6% YoY

EPS (Diluted) -$2.89 +37.7% YoY

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

MBIA (MBI) reported $94.0M in revenue over the twelve months to Jun 30, 2026, down 8.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MBI FY2025 2026-05-07

Shrinking asset coverage and an earnings-to-cash disconnect show a business still servicing obligations from a thin operating base.

In FY2025, operating cash flow improved to $38M from -$176M in FY2024 even as the company still posted a loss. At the same time, interest expense of $196M exceeded revenue of $80M, while net income swung sharply from the prior year's profit; together that says reported earnings and cash generation are moving on different tracks, so profit is a weak guide to the resources available for obligations.

From FY2023 to FY2025, total assets fell from $2.61B to $2.01B while liabilities barely moved. That pushed negative equity from -$1.66B to -$2.24B, meaning asset runoff has not rebuilt the balance-sheet cushion and is acting more like a shrinking pool than an operating engine.

Operating cash flow turned positive at $38M in FY2025 after -$195M in FY2023, so cash burn eased even though accounting earnings stayed erratic. Annual interest expense of $196M still sat well above year-end cash of $71M, which shows the company remains financed by its balance sheet more than by recurring operations.

Financial Health Signals

Financial health score not available

MBIA does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/6

MBIA passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

N/A

MBIA reported a net loss of $177.0M while generating $38.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$80.0M

YoY+90.5%

5Y CAGR-22.3%

10Y CAGR-21.1%

MBIA generated $80.0M in revenue in fiscal year 2025. This represents an increase of 90.5% from the prior year.

Net Income

-$177.0M

YoY-140.7%

MBIA reported -$177.0M in net income in fiscal year 2025. This represents a decrease of 140.7% from the prior year.

EPS (Diluted)

-$3.58

YoY+62.0%

MBIA earned -$3.58 per diluted share (EPS) in fiscal year 2025. This represents an increase of 62.0% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$71.0M

YoY-18.4%

5Y CAGR-15.7%

10Y CAGR-18.1%

MBIA held $71.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

51M

YoY-0.9%

5Y CAGR-1.2%

10Y CAGR-9.5%

MBIA had 51M shares outstanding in fiscal year 2025. This represents a decrease of 0.9% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$7.0M

YoY+75.0%

5Y CAGR-48.9%

10Y CAGR-31.4%

MBIA spent $7.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 75.0% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

MBI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MBI quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$94.0M	$80.0M+90.5%	$42.0M+500.0%	$7.0M-95.5%	$154.0M-18.5%	$189.0M-33.0%	$282.0M+0.7%	$280.0M+72.8%	$162.0M-62.6%	$433.0M+47.3%	$294.0M-65.5%	$853.0M-32.8%	$1.3B+5.0%	$1.2B-50.3%	$2.4B	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	$97.0M-5.8%	$103.0M+13.2%	$91.0M-29.5%	$129.0M-27.1%	$177.0M-6.8%	$190.0M-20.5%	$239.0M-37.8%	$384.0M-10.9%	$431.0M+16.2%	$371.0M
Interest Expense	$193.0M	$196.0M-5.8%	$208.0M-1.0%	$210.0M+17.3%	$179.0M+9.8%	$163.0M-8.4%	$178.0M-11.4%	$201.0M-2.4%	$206.0M+4.6%	$197.0M0.0%	$197.0M-1.0%	$199.0M-5.2%	$210.0M-11.0%	$236.0M-16.9%	$284.0M-5.3%	$300.0M
Income Tax	$0	$0	$0	$0-100.0%	$1.0M	$0	$0-100.0%	$2.0M	$0-100.0%	$944.0M+94500.0%	-$1.0M-100.9%	$109.0M+51.4%	$72.0M-56.6%	$166.0M-54.4%	$364.0M+139.6%	-$920.0M
Net Income	-$142.0M	-$177.0M-140.7%	$435.0M-8.8%	$477.0M+344.6%	-$195.0M+56.2%	-$445.0M+23.0%	-$578.0M-61.0%	-$359.0M-21.3%	-$296.0M+81.6%	-$1.6B-374.9%	-$338.0M-287.8%	$180.0M-68.4%	$569.0M+127.6%	$250.0M-79.7%	$1.2B+193.6%	-$1.3B
EPS (Diluted)	-$2.89	-$3.58+62.0%	-$9.43+7.4%	-$10.18-159.7%	-$3.92+56.4%	-$8.99+8.1%	-$9.78-120.8%	-$4.43-33.0%	-$3.33+75.3%	-$13.50-431.5%	-$2.54-339.6%	$1.06-61.6%	$2.76+114.0%	$1.29-79.6%	$6.33+192.4%	-$6.85

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$27.0M+12.5%	$24.0M-14.3%	$28.0M+86.7%	$15.0M-34.8%	$23.0M+64.3%	$14.0M-62.2%	$37.0M+27.6%	$29.0M
Interest Expense	$48.0M+2.1%	$47.0M-2.1%	$48.0M-4.0%	$50.0M+4.2%	$48.0M-4.0%	$50.0M0.0%	$50.0M-5.7%	$53.0M
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	-$43.0M-7.5%	-$40.0M+21.6%	-$51.0M-537.5%	-$8.0M+85.7%	-$56.0M+9.7%	-$62.0M-107.5%	$831.0M+1583.9%	-$56.0M
EPS (Diluted)	-$0.91-13.7%	-$0.80+20.8%	-$1.01-494.1%	-$0.17+84.8%	-$1.12+12.5%	-$1.28-20.8%	-$1.06+10.2%	-$1.18

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.

MBI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MBI quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$2.0B-7.1%	$2.2B-16.8%	$2.6B-22.8%	$3.4B-28.1%	$4.7B-18.3%	$5.8B-21.0%	$7.3B-10.2%	$8.1B-10.9%	$9.1B-18.3%	$11.1B-24.9%	$14.8B-8.8%	$16.3B-4.1%	$17.0B-22.0%	$21.7B-19.2%	$26.9B
Cash & Equivalents	$71.0M-18.4%	$87.0M-19.4%	$108.0M+38.5%	$78.0M-51.2%	$160.0M-4.2%	$167.0M+101.2%	$83.0M-70.4%	$280.0M+91.8%	$146.0M-21.9%	$187.0M-64.2%	$522.0M-33.2%	$782.0M-37.8%	$1.3B+27.1%	$990.0M+56.4%	$633.0M
Total Liabilities	$4.2B0.0%	$4.2B-0.2%	$4.3B0.0%	$4.3B-14.9%	$5.0B-10.8%	$5.6B-13.1%	$6.4B-7.6%	$7.0B-9.1%	$7.7B-2.9%	$7.9B-28.8%	$11.1B-10.0%	$12.3B-9.7%	$13.7B-26.3%	$18.5B-26.3%	$25.1B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$2.2B-0.9%	$2.2B+6.0%	$2.1B+6.8%	$2.0B+5.1%	$1.9B+4.4%	$1.8B+6.3%	$1.7B-1.7%	$1.7B	N/A
Total Equity	-$2.2B-7.1%	-$2.1B-26.1%	-$1.7B-87.9%	-$882.0M-181.8%	-$313.0M-330.1%	$136.0M-83.5%	$826.0M-26.2%	$1.1B-20.8%	$1.4B-56.2%	$3.2B-13.5%	$3.7B-5.1%	$3.9B+19.9%	$3.3B+3.3%	$3.2B+86.6%	$1.7B
Retained Earnings	-$1.8B-11.1%	-$1.6B-39.1%	-$1.1B-75.2%	-$653.0M-42.6%	-$458.0M-3423.1%	-$13.0M-102.1%	$607.0M-37.2%	$966.0M-11.8%	$1.1B-59.4%	$2.7B-11.1%	$3.0B+6.3%	$2.9B+24.9%	$2.3B+12.3%	$2.0B+153.3%	$805.0M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$2.0B0.0%	$2.0B-1.7%	$2.0B-2.3%	$2.1B-3.5%	$2.1B+0.1%	$2.1B-1.7%	$2.2B-2.8%	$2.2B
Cash & Equivalents	$117.0M+62.5%	$72.0M+1.4%	$71.0M+2.9%	$69.0M-58.7%	$167.0M+165.1%	$63.0M-27.6%	$87.0M+17.6%	$74.0M
Total Liabilities	$4.3B+0.9%	$4.3B+0.3%	$4.2B+0.4%	$4.2B-1.7%	$4.3B+1.3%	$4.2B0.0%	$4.2B+0.6%	$4.2B
Total Equity	-$2.3B-1.9%	-$2.3B-2.1%	-$2.2B-2.6%	-$2.2B-0.1%	-$2.2B-2.4%	-$2.1B-1.8%	-$2.1B-4.4%	-$2.0B
Retained Earnings	-$1.9B-2.5%	-$1.8B-2.3%	-$1.8B-3.0%	-$1.7B-0.5%	-$1.7B-3.4%	-$1.7B-3.9%	-$1.6B-3.3%	-$1.5B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Long-Term Debt.

MBI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MBI quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$43.0M	$38.0M+121.6%	-$176.0M+9.7%	-$195.0M+53.3%	-$418.0M-181.8%	$511.0M+231.0%	-$390.0M-6.0%	-$368.0M-15.4%	-$319.0M+51.1%	-$652.0M-337.6%	-$149.0M-175.9%	-$54.0M+83.8%	-$333.0M-118.2%	$1.8B+278.1%	-$1.0B+60.9%	-$2.6B
Capital Expenditures	N/A	N/A	N/A	$0	$0-100.0%	$1.0M	$0	$0-100.0%	$1.0M0.0%	$1.0M0.0%	$1.0M-66.7%	$3.0M-76.9%	$13.0M+333.3%	$3.0M-57.1%	$7.0M+40.0%	$5.0M
Free Cash Flow	N/A	N/A	N/A	-$195.0M+53.3%	-$418.0M-182.0%	$510.0M+230.8%	-$390.0M-6.0%	-$368.0M-15.0%	-$320.0M+51.0%	-$653.0M-335.3%	-$150.0M-163.2%	-$57.0M+83.5%	-$346.0M-118.9%	$1.8B+276.6%	-$1.0B+60.7%	-$2.6B
Investing Cash Flow	-$26.0M	$25.0M-91.3%	$287.0M-62.6%	$767.0M+23.1%	$623.0M+1121.3%	-$61.0M-103.5%	$1.7B+37.2%	$1.3B+5.1%	$1.2B+0.3%	$1.2B-50.4%	$2.4B	N/A	N/A	N/A	$4.2B+4.7%	$4.0B
Financing Cash Flow	-$67.0M	-$79.0M+40.2%	-$132.0M+75.6%	-$542.0M-90.2%	-$285.0M+37.6%	-$457.0M+63.9%	-$1.3B-15.4%	-$1.1B-45.7%	-$752.0M-27.7%	-$589.0M+76.8%	-$2.5B	N/A	N/A	N/A	-$2.8B-49.8%	-$1.9B
Dividends Paid	N/A	$0	$0-100.0%	$409.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Share Buybacks	$1.0M	$7.0M+75.0%	$4.0M-89.5%	$38.0M+1166.7%	$3.0M+200.0%	$1.0M-99.5%	$200.0M+88.7%	$106.0M+140.9%	$44.0M-86.7%	$330.0M+200.0%	$110.0M-63.8%	$304.0M+850.0%	$32.0M	$0	$0-100.0%	$50.0M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$4.0M+87.9%	-$33.0M-230.0%	-$10.0M-111.1%	$90.0M+8900.0%	$1.0M+102.3%	-$43.0M-1533.3%	$3.0M+102.2%	-$139.0M
Investing Cash Flow	$50.0M+35.1%	$37.0M-37.3%	$59.0M+134.3%	-$172.0M-262.3%	$106.0M+231.3%	$32.0M+540.0%	$5.0M-82.8%	$29.0M
Financing Cash Flow	-$1.0M+66.7%	-$3.0M+93.6%	-$47.0M-193.8%	-$16.0M-433.3%	-$3.0M+76.9%	-$13.0M-360.0%	$5.0M+135.7%	-$14.0M
Share Buybacks	$0-100.0%	$1.0M	$0	$0	$0-100.0%	$7.0M	$0	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.

MBI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

MBI quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Net Margin	-221.3%	1035.7%	6814.3%	-126.6%	-235.4%	-205.0%	-128.2%	-182.7%	-370.7%	-115.0%	21.1%-23.7pp	44.8%+24.1pp	20.7%-30.0pp	50.7%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	-425.0%-381.5pp	-43.5%-17.0pp	-26.5%+87.1pp	-113.6%-103.1pp	-10.5%-15.3pp	4.8%-9.7pp	14.5%+6.9pp	7.6%-31.3pp	38.9%+116.5pp	-77.6%
Return on Assets	-8.8%-28.8pp	20.1%+1.8pp	18.3%+24.1pp	-5.8%+3.7pp	-9.5%+0.6pp	-10.1%-5.1pp	-4.9%-1.3pp	-3.6%+14.0pp	-17.6%-14.6pp	-3.0%-4.2pp	1.2%-2.3pp	3.5%+2.0pp	1.5%-4.2pp	5.7%+10.6pp	-4.9%
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	41.19+38.5x	2.70+0.7x	2.01+0.5x	1.50+0.9x	0.62+0.1x	0.510.0x	0.46-0.1x	0.520.0x	0.55-14.2x	14.79
FCF Margin	N/A	N/A	-2785.7%	-271.4%	269.8%	-138.3%	-131.4%	-197.5%	-150.8%	-51.0%-44.3pp	-6.7%+20.6pp	-27.2%	151.0%	-42.5%	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	-159.3%	-166.7%	-182.1%	-53.3%	-243.5%	-442.9%	2245.9%	-193.1%
Return on Assets	-2.2%-0.2pp	-2.0%+0.5pp	-2.5%-2.1pp	-0.4%+2.2pp	-2.6%+0.3pp	-2.9%-41.2pp	38.3%+40.8pp	-2.5%

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Return on Equity, Current Ratio, Debt-to-Equity, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Note: Shareholder equity is negative (-$2.2B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Where MBIA Ranks

Frequently Asked Questions

What is MBIA's annual revenue?

MBIA (MBI) reported $80.0M in total revenue for fiscal year 2025. This represents a 90.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MBIA's revenue growing?

MBIA (MBI) revenue grew by 90.5% year-over-year, from $42.0M to $80.0M in fiscal year 2025.

Is MBIA profitable?

No, MBIA (MBI) reported a net income of -$177.0M in fiscal year 2025.

What is MBIA's operating cash flow?

MBIA (MBI) generated $38.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MBIA's total assets?

MBIA (MBI) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Does MBIA buy back shares?

Yes, MBIA (MBI) spent $7.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does MBIA have outstanding?

MBIA (MBI) had 51M shares outstanding as of fiscal year 2025.

What is MBIA's return on assets (ROA)?

MBIA (MBI) had a return on assets of -8.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is MBIA's debt-to-equity ratio negative or not reported?

MBIA (MBI) has negative shareholder equity of -$2.2B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is MBIA's Piotroski F-Score?

MBIA (MBI) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are MBIA's earnings high quality?

MBIA (MBI) reported a net loss of $177.0M while generating $38.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.