• MGIC Investment average return on tangible equity for 2023 was 16.16, a 3.23% decline from 2022.
• MGIC Investment average return on tangible equity for 2022 was 16.7, a 39.28% decline from 2021.
• MGIC Investment average return on tangible equity for 2021 was 11.99, a 2.12% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.