MBIA, Inc.
MBI Financial Insurance Specialty
In the quarter to June 2026, revenue grew 17.4%, EPS grew 18.8%, free cash flow fell 500.0% and total debt rose 3.73%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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MBIA, Inc. (MBI) Piotroski F-score
MBIA, Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 1.00 |
| FY2024 | 4 | 1.00 |
| FY2023 | 3 | 0.00 |
| FY2022 | 3 | (2.00) |
| FY2021 | 5 | 0.00 |
| FY2020 | 5 | 2.00 |
| FY2019 | 3 | 0.00 |
| FY2018 | 3 | (1.00) |
| FY2017 | 4 | 1.00 |
| FY2016 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (8.47%) | (18.73%) | Fail | 0 |
| Positive operating cash flow | 38.00m | (176.00m) | Pass | 1 |
| Rising return on assets | (8.47%) | (18.73%) | Pass | 1 |
| Cash flow above net income | 215.00m | 271.00m | Pass | 1 |
| Falling long-term leverage | 1.67 | 1.42 | Fail | 0 |
| Rising current ratio | 0.43 | 0.60 | Fail | 0 |
| No new shares issued | 49,278,000 | 47,436,000 | Fail | 0 |
| Rising gross margin | 125.00% | (338.10%) | Pass | 1 |
| Rising asset turnover | 0.04 | 0.02 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| AGO Assured Guaranty Ltd. compare | 6 |
| AMSF AMERISAFE, Inc. compare | 6 |
| OSG Octave Specialty Group, Inc. compare | 5 |
| JRVR James River Group Holdings, Ltd. compare | 5 |
| ITIC Investors Title Company compare | 5 |
| NMIH NMI Holdings Inc compare | 5 |
| MBI MBIA, Inc. | 5 |
| EIG Employers Holdings Inc compare | 5 |
| TIPT Tiptree Financial Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover