This page shows MBIA (MBI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
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
Operating cash flow turned positive at
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of MBIA's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
MBIA passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, MBIA generates $-0.21 in operating cash flow ($38.0M OCF vs -$177.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
MBIA generated $80.0M in revenue in fiscal year 2025. This represents an increase of 90.5% from the prior year.
MBIA reported -$177.0M in net income in fiscal year 2025. This represents a decrease of 140.7% from the prior year.
MBIA earned $-3.58 per diluted share (EPS) in fiscal year 2025. This represents an increase of 62.0% from the prior year.
Cash & Balance Sheet
MBIA held $71.0M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
MBIA's net profit margin was -221.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1257.0 percentage points from the prior year.
Capital Allocation
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.
MBI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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 | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $47.0M-2.1% | $48.0M-4.0% | $50.0M+4.2% | $48.0M-4.0% | $50.0M0.0% | $50.0M-5.7% | $53.0M0.0% | $53.0M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$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+78.0% | -$254.0M |
| EPS (Diluted) | $-0.80 | N/A | $-0.17+84.8% | $-1.12+12.5% | $-1.28 | N/A | $-1.18+77.9% | $-5.34 |
MBI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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-3.2% | $2.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $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-62.6% | $198.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $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-1.7% | $4.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $2.9B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$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-0.4% | -$2.0B |
| Retained Earnings | -$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-3.8% | -$1.5B |
MBI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$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-1290.0% | -$10.0M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $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-75.8% | $120.0M |
| Financing Cash Flow | -$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+72.0% | -$50.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $1.0M | $0 | $0 | $0-100.0% | $7.0M | $0 | $0-100.0% | $2.0M |
MBI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -166.7%+15.5pp | -182.1%-128.8pp | -53.3%+190.2pp | -243.5%+199.4pp | -442.9%-2688.8pp | 2245.9%+2439.0pp | -193.1% | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -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%+8.5pp | -11.0% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | -1.86+0.0 | -1.90+0.0 | -1.94+0.0 | -1.97+0.0 | -2.00+0.0 | -2.03+0.1 | -2.11+0.0 | -2.15 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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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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, with a net profit margin of -221.3%.
What is MBIA's net profit margin?
MBIA (MBI) had a net profit margin of -221.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
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.
What is MBIA's debt-to-equity ratio?
MBIA (MBI) had a debt-to-equity ratio of -1.90 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
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 unusual?
MBIA (MBI) has negative shareholder equity of -$2.2B as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 3 out of 5 computable signals; 4 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) has an earnings quality ratio of -0.21x, considered mixed quality. 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.
How financially healthy is MBIA?
MBIA (MBI) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.