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

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

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).

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 Profile 17/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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.

Growth

100

MBIA's revenue surged 90.5% year-over-year to $80.0M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

MBIA has elevated debt relative to equity (D/E of -1.90), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Piotroski F-Score Weak

3/9

MBIA passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.21x

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

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Earnings & Revenue

Revenue

$80.0M

YoY+90.5%

5Y CAGR-22.3%

10Y CAGR-23.8%

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

EBITDA

N/A

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.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$71.0M

YoY-18.4%

5Y CAGR-15.7%

10Y CAGR-25.0%

MBIA held $71.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-221.3%

YoY-1257.0pp

5Y CAGR-16.3pp

10Y CAGR-241.9pp

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.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

$7.0M

YoY+75.0%

5Y CAGR-48.9%

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.

Capital Expenditures

N/A

MBI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$80.0M+90.5%	$42.0M+500.0%	$7.0M-95.5%	$154.0M-18.5%	$189.0M-33.0%	$282.0M
Cost of Revenue	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
R&D Expenses	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	$97.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$196.0M-5.8%	$208.0M-1.0%	$210.0M+17.3%	$179.0M+9.8%	$163.0M-8.4%	$178.0M
Income Tax	$0	$0	$0-100.0%	$1.0M	$0	$0
Net Income	-$177.0M-140.7%	$435.0M-8.8%	$477.0M+344.6%	-$195.0M+56.2%	-$445.0M+23.0%	-$578.0M
EPS (Diluted)	$-3.58+62.0%	$-9.43+7.4%	$-10.18-159.7%	$-3.92+56.4%	$-8.99+8.1%	$-9.78

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	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.0B-7.1%	$2.2B-16.8%	$2.6B-22.8%	$3.4B-28.1%	$4.7B-18.3%	$5.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$71.0M-18.4%	$87.0M-19.4%	$108.0M+38.5%	$78.0M-51.2%	$160.0M-4.2%	$167.0M
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.2B0.0%	$4.2B-0.2%	$4.3B0.0%	$4.3B-14.9%	$5.0B-10.8%	$5.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	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
Retained Earnings	-$1.8B-11.1%	-$1.6B-39.1%	-$1.1B-75.2%	-$653.0M-42.6%	-$458.0M-3423.1%	-$13.0M

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	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$38.0M+121.6%	-$176.0M+9.7%	-$195.0M+53.3%	-$418.0M-181.8%	$511.0M+231.0%	-$390.0M
Capital Expenditures	N/A	N/A	$0	$0-100.0%	$1.0M	$0
Free Cash Flow	N/A	N/A	-$195.0M+53.3%	-$418.0M-182.0%	$510.0M+230.8%	-$390.0M
Investing Cash Flow	$25.0M-91.3%	$287.0M-62.6%	$767.0M+23.1%	$623.0M+1121.3%	-$61.0M-103.5%	$1.7B
Financing Cash Flow	-$79.0M+40.2%	-$132.0M+75.6%	-$542.0M-90.2%	-$285.0M+37.6%	-$457.0M+63.9%	-$1.3B
Dividends Paid	$0	$0-100.0%	$409.0M	$0	$0	N/A
Share Buybacks	$7.0M+75.0%	$4.0M-89.5%	$38.0M+1166.7%	$3.0M+200.0%	$1.0M-99.5%	$200.0M

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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	-221.3%-1257.0pp	1035.7%-5778.6pp	6814.3%+6940.9pp	-126.6%+108.8pp	-235.4%-30.5pp	-205.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	-425.0%
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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	-1.90+0.1	-2.03+0.5	-2.57+2.3	-4.82+11.1	-15.96-57.2	41.19
FCF Margin	N/A	N/A	-2785.7%-2514.3pp	-271.4%-541.3pp	269.8%+408.1pp	-138.3%

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.

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.

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 9, indicating weak financial health. 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 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.