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MBI

MBIA Inc.

MBI

MBIA Inc. • NYSE
$7.55 ▲ 0.13% (+0.01)
Market Cap $381.23 M
52w High $8.26
52w Low $3.86
Dividend Yield 8.00%
P/E -2.1
Volume 140.47K
Outstanding Shares 50.49M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15M ▼ $71M ▲ $-8M ▲ -53.333% ▲ $-0.16 ▲ $43M ▲
Q2-2025 $23M ▲ $70M ▲ $-56M ▲ -243.478% ▲ $-1.13 ▲ $-7M ▲
Q1-2025 $14M ▼ $67M ▼ $-62M ▼ -442.857% ▼ $-1.28 ▼ $-12M ▲
Q4-2024 $37M ▲ $73M ▲ $-48M ▲ -129.73% ▲ $-1 ▲ $-50M ▼
Q3-2024 $29M $68M $-56M -193.103% $-1.17 $2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.574B ▲ $2.06B ▼ $4.227B ▼ $-2.18B ▼
Q2-2025 $1.484B ▲ $2.134B ▲ $4.299B ▲ $-2.178B ▼
Q1-2025 $1.48B ▼ $2.132B ▼ $4.245B ▲ $-2.126B ▼
Q4-2024 $1.504B ▼ $2.168B ▼ $4.244B ▲ $-2.089B ▼
Q3-2024 $1.539B $2.23B $4.218B $-2.001B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7M ▲ $90M ▲ $-172M ▼ $-16M ▼ $-98M ▼ $90M ▲
Q2-2025 $-56M ▲ $1M ▲ $106M ▲ $-3M ▲ $104M ▲ $1M ▲
Q1-2025 $-62M ▼ $-43M ▼ $32M ▲ $-13M ▼ $-24M ▼ $-43M ▼
Q4-2024 $-50M ▲ $3M ▲ $5M ▼ $5M ▲ $13M ▲ $3M ▲
Q3-2024 $-56M $-139M $29M $-14M $-124M $-139M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
International And Structured Finance Insurance
International And Structured Finance Insurance
 $10.00M ▲$0 ▼$10.00M ▲$0 ▼
Corporate Operations
Corporate Operations
 $10.00M ▲$50.00M ▲$20.00M ▼$0 ▼
U S Public Finance Insurance
U S Public Finance Insurance
 $30.00M ▲$50.00M ▲$20.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement MBIA’s income statement shows a company that has been shrinking and losing money for several years. Revenue is now very small and has generally trended down, which is consistent with a runoff business that is not writing much, if any, new insurance. Profitability has been weak, with operating losses and sizable net losses every year, and only brief, modest improvement in the middle of the period. Results also look quite volatile, swinging between better and worse years rather than following a smooth path. Overall, the income statement reflects a wind‑down of legacy business, ongoing costs, and dependence on one‑off items like settlements rather than stable, recurring earnings.

Balance Sheet

Balance Sheet The balance sheet shows a gradual shrinking of total assets as the old insurance portfolio runs off and investments are used to pay claims and expenses. Debt has stayed relatively high compared with the asset base, and shareholders’ equity has moved from slightly positive to clearly negative, meaning obligations on paper exceed reported net assets. For an insurer in runoff, this can partly reflect conservative reserves and market value swings, but it still points to a heavily burdened capital structure. The company has only a modest cash cushion, so it relies on its broader investment portfolio and timing of claim payments. Overall, the balance sheet looks stressed and highly leveraged, with limited flexibility if conditions worsen.

Cash Flow

Cash Flow Cash flow has been uneven and hard to predict. Operating cash flow has flipped between positive and negative, which suggests that claim payments, recoveries, and legal outcomes drive results more than steady business activity. Free cash flow mirrors this pattern, as the company spends almost nothing on new capital assets and is not building out new operations. This volatility means that individual years can look strong or weak depending on settlements, restructurings, and investment performance. In simple terms, MBIA’s cash profile is lumpy and tied closely to how the runoff and litigation processes play out.

Competitive Edge

Competitive Edge MBIA no longer competes as a growth insurer; instead, it competes as a specialist in managing a complex legacy book of guarantees. Its historical brand, deep municipal finance experience, and strong legal and restructuring capabilities give it an edge in dealing with distressed borrowers and negotiations. The moat today is about expertise in runoff, surveillance, and litigation rather than about winning new customers or market share. This makes the business more like a long, controlled unwind than a traditional competitive franchise. The main risk is that there is little new business to offset poor outcomes if credit conditions or legal resolutions go against the company.

Innovation and R&D

Innovation and R&D MBIA’s “innovation” is focused on analytics, risk models, and legal strategies rather than on new products or technology in the usual sense. The company has built sophisticated internal models to track credit risk, value complex exposures, and guide negotiations and lawsuits, with formal governance to keep these tools consistent and reliable. It has also developed specialized capabilities in loss mitigation, distressed debt restructuring, and recovery litigation, particularly visible in its approach to Puerto Rico and other troubled credits. Beyond that, it uses its knowledge base to offer advisory and asset management services, but these remain secondary to managing the runoff portfolio. In short, MBIA’s R&D is about refining its tools and playbook for extracting value from a shrinking, complex book of business.

Summary

MBIA is a legacy financial guarantor steadily running off its old insurance portfolio, not a growing insurance platform. The income statement shows ongoing and sometimes large losses, with small and declining revenues and volatile results tied to legal and restructuring activities. The balance sheet is heavily stretched, with high leverage and negative equity, reflecting the weight of long‑term obligations and the rundown of assets. Cash flows are uneven and driven by timing of claims, recoveries, and settlements rather than recurring operations. Competitively, MBIA’s strength lies in its long experience, analytics, and legal expertise in distressed municipal and structured finance, but this is a finite franchise tied to the life of its existing book. The central uncertainty is how effectively the company can continue to manage runoff, resolve litigation, and handle remaining credit risks while preserving enough value for stakeholders over time.

NEWS

November 4, 2025 · 4:15 PM UTC

MBIA Inc. Reports Third Quarter 2025 Financial Results

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October 29, 2025 · 1:21 PM UTC

MBIA Inc. Investor Conference Call to Discuss Third Quarter 2025 Financial Results Scheduled for Wednesday, November 5 at 8:00 A.M. Eastern Time

Read more