NASDAQ : ACT
Enact Holdings, Inc. — Financial statements
Financials · Insurance - Specialty · United States
Last price 47.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.49B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 977.94M | 980.50M | 980.10M | 957.08M | 939.46M | 974.95M |
| Total Interest & Dividend Income | 281.35M | 266.15M | 240.56M | 207.37M | 155.31M | 141.19M |
| Gain (Loss) on Sale of Investments | -13.75M | -16.28M | -22.81M | -14.02M | -2.04M | -2.12M |
| Other Revenue | 8.00M | 5.45M | 3.91M | 3.26M | 2.31M | 3.84M |
| Total Revenue | 1.25B | 1.24B | 1.20B | 1.15B | 1.10B | 1.12B |
| Policy Benefits | 124.12M | 109.53M | 38.66M | 27.16M | -94.22M | 125.47M |
| Policy Acquisition & Underwriting Costs | 212.12M | 216.69M | 218.32M | 223.28M | 235.88M | 243.41M |
| Total Operating Expenses | 336.24M | 326.22M | 256.97M | 250.44M | 141.66M | 368.89M |
| Operating Income | 917.30M | 909.61M | 944.80M | 903.25M | 953.38M | 748.97M |
| Interest Expense | -50.22M | -49.95M | -51.16M | -51.87M | -51.70M | -51.01M |
| EBT Excluding Unusual Items | 867.08M | 859.66M | 893.64M | 851.38M | 901.68M | 697.96M |
| Merger & Restructuring Charges | -820.00K | -820.00K | -4.65M | 131.00K | -3.46M | -2.74M |
| Other Unusual Items | -10.93M | |||||
| Pretax Income | 866.26M | 858.84M | 878.06M | 851.51M | 898.22M | 695.22M |
| Income Tax Expense | 183.00M | 184.59M | 189.99M | 186.00M | 194.06M | 148.53M |
| Net Income | 683.27M | 674.24M | 688.07M | 665.51M | 704.16M | 546.68M |
| Net Income to Common | 683.27M | 674.24M | 688.07M | 665.51M | 704.16M | 546.68M |
| Shares Outstanding (Basic) | 143.21M | 148.37M | 156.28M | 160.87M | 162.84M | 162.84M |
| Shares Outstanding (Diluted) | 144.15M | 149.32M | 157.55M | 161.85M | 163.29M | 162.88M |
| EPS (Basic) | 4.77 | 4.54 | 4.40 | 4.14 | 4.32 | 3.36 |
| EPS (Diluted) | 4.74 | 4.52 | 4.37 | 4.11 | 4.31 | 3.36 |
| Dividend Per Share | 0.87 | 0.81 | 0.71 | 0.62 | 0.42 | |
| Operating Margin | 73.18% | 73.60% | 78.62% | 78.29% | 87.06% | 67.00% |
| Profit Margin | 54.51% | 54.56% | 57.25% | 57.69% | 64.30% | 48.91% |
| EBIT | 917.30M | 909.61M | 944.80M | 903.25M | 953.38M | 748.97M |
| EBIT Margin | 73.18% | 73.60% | 78.62% | 78.29% | 87.06% | 67.00% |
| Effective Tax Rate | 21.12% | 21.49% | 21.64% | 21.84% | 21.61% | 21.37% |
| Revenue as Reported | 1.25B | 1.24B | 1.20B | 1.15B | 1.10B | 1.12B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 6.16B | 6.05B | 5.62B | 5.27B | 4.88B | 5.27B |
| Other Investments | 49.12M | 3.37M | 20.22M | 3.05M | ||
| Total Investments | 6.21B | 6.05B | 5.63B | 5.29B | 4.89B | 5.27B |
| Cash & Equivalents | 448.45M | 582.49M | 599.43M | 615.68M | 513.77M | 425.83M |
| Other Receivables | 129.04M | 102.20M | 102.63M | 86.63M | 77.58M | 74.43M |
| Deferred Policy Acquisition Cost | 22.19M | 22.23M | 23.77M | 25.01M | 26.12M | 27.22M |
| Property, Plant & Equipment | 6.60M | 8.80M | 11.30M | 13.60M | 15.50M | |
| Long-Term Deferred Tax Assets | 33.00M | 19.99M | 65.01M | 88.49M | 127.47M | |
| Other Long-Term Assets | 112.36M | 109.41M | 93.75M | 77.01M | 62.79M | 56.46M |
| Total Assets | 6.96B | 6.89B | 6.52B | 6.19B | 5.71B | 5.87B |
| Insurance & Annuity Liabilities | 524.72M | 518.19M | 519.01M | 641.33M | ||
| Unpaid Claims | 598.69M | 572.47M | ||||
| Unearned Premiums | 80.94M | 91.64M | 114.68M | 149.33M | 202.72M | 246.32M |
| Current Portion of Leases | 3.89M | |||||
| Current Income Taxes Payable | 11.90M | 14.90M | 9.10M | |||
| Long-Term Debt | 745.23M | 744.48M | 743.05M | 745.42M | 742.83M | 740.42M |
| Long-Term Leases | 3.94M | 10.60M | 13.50M | 15.90M | 17.70M | |
| Long-Term Deferred Tax Liabilities | 1.59M | |||||
| Other Long-Term Liabilities | 135.75M | 121.86M | 120.49M | 116.79M | 118.69M | 112.90M |
| Total Liabilities | 1.56B | 1.54B | 1.53B | 1.56B | 1.61B | 1.76B |
| Common Stock | 1.38M | 1.42M | 1.52M | 1.59M | 1.63M | 1.63M |
| Additional Paid-In Capital | 1.52B | 1.71B | 2.08B | 2.31B | 2.38B | 2.37B |
| Retained Earnings | 3.96B | 3.68B | 3.13B | 2.55B | 2.10B | 1.65B |
| Comprehensive Income & Other | -83.30M | -30.14M | -207.46M | -230.40M | -382.74M | 83.58M |
| Shareholders' Equity | 5.40B | 5.36B | 5.00B | 4.63B | 4.10B | 4.11B |
| Total Liabilities & Equity | 6.96B | 6.89B | 6.52B | 6.19B | 5.71B | 5.87B |
| Filing Date Shares Outstanding | 137.48M | 141.51M | 151.88M | 159.11M | 162.54M | 162.84M |
| Total Common Shares Outstanding | 138.13M | 142.21M | 152.32M | 159.34M | 162.78M | 162.84M |
| Total Debt | 745.23M | 752.31M | 753.65M | 758.92M | 758.73M | 758.12M |
| Net Cash (Debt) | -296.79M | -169.82M | -154.22M | -143.23M | -244.96M | -332.29M |
| Net Cash Per Share | -2.06 | -1.14 | -0.98 | -0.88 | -1.50 | -2.04 |
| Book Value Per Share | 39.06 | 37.66 | 32.80 | 29.07 | 25.19 | 25.21 |
| Tangible Book Value | 5.40B | 5.36B | 5.00B | 4.63B | 4.10B | 4.11B |
| Tangible Book Value Per Share | 39.06 | 37.66 | 32.80 | 29.07 | 25.19 | 25.21 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 683.27M | 674.24M | 688.07M | 665.51M | 704.16M | 546.68M |
| Other Amortization | 10.28M | 10.62M | 11.61M | 13.24M | 14.82M | 16.96M |
| Gain (Loss) on Sale of Investments | -768.00K | 2.31M | 11.20M | 7.49M | -1.13M | -6.37M |
| Stock-Based Compensation | 20.68M | 19.02M | 18.77M | 15.28M | 9.88M | 1.50M |
| Change in Accounts Receivable | -22.57M | 6.90M | -7.96M | -3.33M | 528.00K | 4.20M |
| Change in Unearned Revenue | -20.27M | -23.04M | -34.65M | -53.39M | -43.60M | -60.63M |
| Change in Insurance Reserves / Liabilities | 46.75M | 47.76M | 6.52M | -817.00K | -122.32M | 85.65M |
| Change in Other Net Operating Assets | 3.74M | -15.84M | -16.95M | -4.01M | 7.17M | -8.10M |
| Other Operating Activities | -272.00K | 2.55M | 9.64M | -7.94M | -9.00M | -7.78M |
| Operating Cash Flow | 720.83M | 724.52M | 686.26M | 632.04M | 560.51M | 572.11M |
| Investment in Securities | -318.20M | -218.06M | -304.92M | -215.48M | -220.25M | -398.78M |
| Other Investing Activities | -10.73M | -8.32M | -15.59M | -13.93M | ||
| Investing Cash Flow | -328.93M | -226.38M | -320.51M | -229.40M | -220.25M | -398.78M |
| Long-Term Debt Issued | 749.65M | |||||
| Total Debt Repaid | -757.50M | |||||
| Net Debt Issued (Repaid) | -7.85M | |||||
| Repurchases of Common Stock | -419.07M | -382.40M | -243.97M | -87.76M | -1.53M | |
| Common Dividends Paid | -124.49M | -120.83M | -111.72M | -99.96M | -250.78M | -200.29M |
| Other Financing Activities | -12.86M | -11.85M | -18.46M | |||
| Financing Cash Flow | -556.42M | -515.08M | -382.00M | -300.73M | -252.31M | -200.29M |
| Net Cash Flow | -164.52M | -16.94M | -16.25M | 101.91M | 87.95M | -26.97M |
| Levered Free Cash Flow | 521.55M | 1.11B | 552.12M | 486.82M | 547.55M | 395.30M |
| Unlevered Free Cash Flow | 551.45M | 1.14B | 582.14M | 516.66M | 577.45M | 424.93M |
| Cash Interest Paid | 47.38M | 47.38M | 62.95M | 49.18M | 49.09M | 47.94M |
| Cash Income Tax Paid | 190.91M | 190.91M | 188.54M | 181.97M | 186.15M | 145.95M |
| Change in Working Capital | 7.65M | 15.77M | -53.03M | -61.54M | -158.22M | 21.12M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.49B | 5.72B | 4.97B | 4.61B | 3.93B | 3.37B |
| Enterprise Value | 6.78B | 5.92B | 5.04B | 4.68B | 4.13B | 3.65B |
| PE Ratio | 9.95 | 8.49 | 7.23 | 6.93 | 5.58 | 6.16 |
| PS Ratio | 5.17 | 4.63 | 4.14 | 4.00 | 3.59 | 3.01 |
| PB Ratio | 1.21 | 1.07 | 0.99 | 1.00 | 0.96 | 0.82 |
| P/OCF Ratio | 9.00 | 7.90 | 7.25 | 7.30 | 7.01 | 5.88 |
| EV/Sales Ratio | 5.41 | 4.79 | 4.20 | 4.06 | 3.77 | 3.27 |
| EV/EBIT Ratio | 7.39 | 6.51 | 5.34 | 5.18 | 4.34 | 4.88 |
| Debt / Equity Ratio | 0.14 | 0.14 | 0.15 | 0.16 | 0.18 | 0.18 |
| Debt / EBITDA Ratio | 0.81 | 0.82 | 0.79 | 0.84 | 0.79 | 1.01 |
| Net Debt / Equity Ratio | 0.06 | 0.03 | 0.03 | 0.03 | 0.06 | 0.08 |
| Quick Ratio | 0.83 | 0.94 | 5.18 | 4.15 | 2.64 | 1.91 |
| Current Ratio | 0.92 | 1.02 | 5.57 | 4.40 | 2.81 | 2.03 |
| Asset Turnover | 0.18 | 0.18 | 0.19 | 0.19 | 0.19 | 0.19 |
| Return on Equity (ROE) | 12.87% | 13.03% | 14.29% | 15.24% | 17.16% | 13.69% |
| Return on Assets (ROA) | 8.35% | 8.48% | 9.29% | 9.49% | 10.30% | 8.13% |
| Return on Invested Capital (ROIC) | 11.83% | 12.04% | 13.29% | 13.77% | 15.37% | 12.39% |
| Earnings Yield | 10.05% | 11.78% | 13.84% | 14.42% | 17.93% | 16.24% |
| Dividend Yield | 2.04% | 2.02% | 2.19% | 2.14% | 1.74% | |
| Payout Ratio | 20.25% | 17.92% | 16.24% | 15.02% | 35.61% | 36.64% |
| Buyback Yield / Dilution | 6.28% | 5.23% | 2.65% | 0.89% | -0.26% | -0.02% |
| Total Shareholder Return | 8.31% | 7.25% | 4.84% | 3.03% | 1.49% | -0.02% |