NYSE : ESNT
Essent Group Ltd. — Financial statements
Financials · Insurance - Specialty · Bermuda
Last price 67.6 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 6.08B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 1.03B | 983.72M | 990.88M | 916.91M | 842.53M | 872.54M |
| Total Interest & Dividend Income | 239.88M | 236.52M | 222.07M | 186.14M | 124.41M | 88.77M |
| Gain (Loss) on Sale of Investments | -871.00K | -923.00K | -2.35M | -7.20M | -13.17M | 418.00K |
| Other Revenue | 58.06M | 41.62M | 32.30M | 13.92M | 47.06M | 66.78M |
| Total Revenue | 1.32B | 1.26B | 1.24B | 1.11B | 1.00B | 1.03B |
| Policy Benefits | 198.17M | 149.34M | 81.22M | 31.54M | -174.70M | 31.06M |
| Policy Acquisition & Underwriting Costs | 119.26M | 101.26M | 109.98M | 83.52M | 47.45M | 146.01M |
| Other Operating Expenses | 25.43M | 25.83M | 24.50M | 22.17M | 20.98M | |
| Total Operating Expenses | 469.56M | 406.38M | 352.09M | 252.12M | -5.97M | 197.91M |
| Operating Income | 853.43M | 854.56M | 890.81M | 857.64M | 1.01B | 830.60M |
| Interest Expense | -32.70M | -32.70M | -35.32M | -30.14M | -15.61M | -8.28M |
| EBT Excluding Unusual Items | 820.73M | 821.86M | 855.49M | 827.50M | 991.19M | 822.31M |
| Merger & Restructuring Charges | -4.50M | -3.00M | ||||
| Pretax Income | 820.73M | 821.86M | 855.49M | 823.00M | 988.19M | 822.31M |
| Income Tax Expense | 140.02M | 131.89M | 126.09M | 126.61M | 156.83M | 140.53M |
| Net Income | 680.71M | 689.97M | 729.40M | 696.39M | 831.35M | 681.78M |
| Net Income to Common | 680.71M | 689.97M | 729.40M | 696.39M | 831.35M | 681.78M |
| Shares Outstanding (Basic) | 94.41M | 99.00M | 105.39M | 106.22M | 107.20M | 111.16M |
| Shares Outstanding (Diluted) | 95.26M | 100.02M | 106.55M | 107.13M | 107.65M | 111.56M |
| EPS (Basic) | 7.21 | 6.97 | 6.92 | 6.56 | 7.75 | 6.13 |
| EPS (Diluted) | 7.15 | 6.90 | 6.85 | 6.50 | 7.72 | 6.11 |
| Free Cash Flow | 825.89M | 848.69M | 854.77M | 759.00M | 584.84M | 706.76M |
| Free Cash Flow Per Share | 8.67 | 8.48 | 8.02 | 7.08 | 5.43 | 6.34 |
| Dividend Per Share | 1.32 | 1.24 | 1.12 | 1.00 | 0.86 | 0.70 |
| Operating Margin | 64.51% | 67.77% | 71.67% | 77.28% | 100.60% | 80.76% |
| Profit Margin | 51.45% | 54.72% | 58.68% | 62.75% | 83.07% | 66.29% |
| Free Cash Flow Margin | 62.43% | 67.31% | 68.77% | 68.39% | 58.44% | 68.72% |
| EBITDA | 858.38M | 859.79M | 896.59M | 862.16M | 1.01B | 833.98M |
| EBITDA Margin | 64.88% | 68.19% | 72.14% | 77.69% | 100.90% | 81.09% |
| D&A For EBITDA | 4.95M | 5.23M | 5.78M | 4.53M | 3.02M | 3.38M |
| EBIT | 853.43M | 854.56M | 890.81M | 857.64M | 1.01B | 830.60M |
| EBIT Margin | 64.51% | 67.77% | 71.67% | 77.28% | 100.60% | 80.76% |
| Effective Tax Rate | 17.06% | 16.05% | 14.74% | 15.38% | 15.87% | 17.09% |
| Revenue as Reported | 1.32B | 1.26B | 1.24B | 1.11B | 1.00B | 1.03B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 5.41B | 5.46B | 5.11B | 4.34B | 4.49B | 4.65B |
| Investments in Equity & Preferred Securities | 441.85M | 382.51M | 303.90M | 277.23M | 257.94M | 170.47M |
| Other Investments | 623.89M | 648.49M | 764.02M | 928.73M | 252.03M | 313.09M |
| Total Investments | 6.48B | 6.49B | 6.18B | 5.54B | 5.00B | 5.13B |
| Cash & Equivalents | 74.33M | 123.05M | 131.48M | 141.79M | 81.24M | 81.49M |
| Other Receivables | 218.08M | 98.64M | 99.30M | 98.95M | 90.56M | 72.70M |
| Deferred Policy Acquisition Cost | 68.86M | 9.55M | 9.65M | 9.14M | 9.91M | 12.18M |
| Property, Plant & Equipment | 47.75M | 41.87M | 40.59M | 39.12M | 15.56M | 9.01M |
| Goodwill | 48.80M | 48.76M | 48.76M | 50.01M | ||
| Other Intangible Assets | 28.65M | 36.71M | 32.08M | 25.00M | 4.01M | 2.91M |
| Other Current Assets | 496.32M | 513.42M | 489.60M | 470.65M | 418.46M | 360.81M |
| Other Long-Term Assets | 128.54M | 82.40M | 79.57M | 51.05M | 104.49M | 49.71M |
| Total Assets | 7.59B | 7.44B | 7.11B | 6.43B | 5.72B | 5.72B |
| Accrued Expenses | 135.70M | 140.56M | 101.07M | 89.46M | 91.75M | |
| Unpaid Claims | 518.80M | 446.82M | 328.87M | 260.10M | 216.46M | 407.44M |
| Unearned Premiums | 256.83M | 91.73M | 115.98M | 140.28M | 162.89M | 185.38M |
| Current Portion of Leases | 5.98M | |||||
| Long-Term Debt | 495.97M | 495.30M | 493.96M | 421.92M | 420.86M | 419.82M |
| Long-Term Leases | 30.62M | 36.20M | 38.00M | 15.00M | 8.00M | |
| Long-Term Deferred Tax Liabilities | 449.74M | 465.35M | 392.43M | 362.75M | 356.81M | 373.65M |
| Other Current Liabilities | 13.06M | 12.78M | ||||
| Other Long-Term Liabilities | 194.08M | |||||
| Total Liabilities | 1.93B | 1.68B | 1.51B | 1.32B | 1.26B | 1.49B |
| Common Stock | 1.35M | 1.43M | 1.57M | 1.60M | 1.61M | 1.64M |
| Additional Paid-In Capital | 298.72M | 649.89M | 1.21B | 1.30B | 1.35B | 1.43B |
| Retained Earnings | 5.55B | 5.26B | 4.69B | 4.08B | 3.49B | 2.75B |
| Comprehensive Income & Other | -190.66M | -151.99M | -303.98M | -280.50M | -382.79M | 50.71M |
| Shareholders' Equity | 5.66B | 5.76B | 5.60B | 5.10B | 4.46B | 4.24B |
| Total Liabilities & Equity | 7.59B | 7.44B | 7.11B | 6.43B | 5.72B | 5.72B |
| Filing Date Shares Outstanding | 89.88M | 94.54M | 103.84M | 106.87M | 108.10M | 108.78M |
| Total Common Shares Outstanding | 89.88M | 95.46M | 105.02M | 106.60M | 107.68M | 109.38M |
| Total Debt | 495.97M | 531.90M | 530.16M | 459.92M | 435.86M | 427.82M |
| Net Cash (Debt) | -421.64M | -408.85M | -398.68M | -318.13M | -354.62M | -346.33M |
| Net Cash Per Share | -4.43 | -4.09 | -3.74 | -2.97 | -3.29 | -3.10 |
| Book Value Per Share | 63.01 | 60.31 | 53.36 | 47.87 | 41.44 | 38.73 |
| Tangible Book Value | 5.59B | 5.67B | 5.52B | 5.03B | 4.46B | 4.23B |
| Tangible Book Value Per Share | 62.15 | 59.41 | 52.59 | 47.16 | 41.40 | 38.70 |
| Machinery | 20.89M | 20.01M | 18.47M | 14.95M | 13.89M | |
| Leasehold Improvements | 10.99M | 12.30M | 7.71M | 5.17M | 4.99M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 680.71M | 689.97M | 729.40M | 696.39M | 831.35M | 681.78M |
| Depreciation & Amortization | 4.95M | 5.23M | 5.78M | 4.53M | 3.02M | 3.38M |
| Gain (Loss) on Sale of Assets | 68.00K | 68.00K | ||||
| Gain (Loss) on Sale of Investments | 14.49M | 15.30M | 22.58M | 22.10M | 31.52M | 33.32M |
| Stock-Based Compensation | 18.59M | 20.85M | 24.78M | 18.45M | 18.38M | 20.84M |
| Change in Accounts Receivable | -117.80M | 4.42M | 7.47M | -2.07M | -11.21M | 3.34M |
| Change in Unearned Revenue | 154.44M | -24.25M | -24.30M | -22.62M | -22.50M | -65.05M |
| Change in Income Taxes | 1.03M | -23.82M | -18.95M | -52.19M | -57.65M | -58.17M |
| Change in Insurance Reserves / Liabilities | 154.05M | 117.96M | 68.77M | 29.02M | -190.98M | 32.50M |
| Change in Other Net Operating Assets | -16.38M | 6.52M | 7.88M | 63.32M | -58.98M | -880.00K |
| Other Operating Activities | 34.82M | 61.30M | 46.02M | -5.81M | 72.27M | 109.75M |
| Operating Cash Flow | 834.08M | 856.05M | 861.53M | 763.00M | 588.82M | 709.26M |
| Capital Expenditures | -8.19M | -7.36M | -6.77M | -4.00M | -3.98M | -2.50M |
| Purchase / Sale of Intangible Assets | -10.00M | |||||
| Cash Acquisitions | -86.76M | |||||
| Investment in Securities | -108.97M | -147.37M | -690.16M | -434.81M | -394.89M | -580.67M |
| Investing Cash Flow | -117.16M | -154.74M | -706.93M | -525.57M | -398.87M | -583.17M |
| Long-Term Debt Issued | 498.16M | 225.00M | ||||
| Total Debt Repaid | -425.00M | -125.00M | ||||
| Net Debt Issued (Repaid) | 73.16M | 100.00M | ||||
| Repurchases of Common Stock | -610.98M | -587.68M | -111.54M | -70.67M | -97.91M | -163.85M |
| Common Dividends Paid | -123.72M | -122.07M | -118.04M | -106.22M | -92.13M | -77.72M |
| Other Financing Activities | -8.49M | -154.00K | -5.85M | |||
| Financing Cash Flow | -734.71M | -709.75M | -164.91M | -176.88M | -190.20M | -147.43M |
| Net Cash Flow | -17.78M | -8.43M | -10.31M | 60.55M | -251.00K | -21.34M |
| Free Cash Flow | 825.89M | 848.69M | 854.77M | 759.00M | 584.84M | 706.76M |
| Free Cash Flow Margin | 62.43% | 67.31% | 68.77% | 68.39% | 58.44% | 68.72% |
| Free Cash Flow Per Share | 8.67 | 8.48 | 8.02 | 7.08 | 5.43 | 6.34 |
| Levered Free Cash Flow | 690.25M | 351.27M | 777.84M | -168.49M | 406.70M | 870.88M |
| Unlevered Free Cash Flow | 710.68M | 371.71M | 799.92M | -149.66M | 416.45M | 876.05M |
| Cash Interest Paid | 31.25M | 31.25M | 17.20M | 28.57M | 13.60M | 6.95M |
| Cash Income Tax Paid | 110.94M | 91.15M | 92.52M | 139.71M | 98.01M | 55.80M |
| Change in Working Capital | 115.72M | 80.92M | 40.34M | 16.23M | -339.06M | -83.44M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.06B | 6.28B | 5.78B | 5.63B | 4.19B | 5.03B |
| Enterprise Value | 6.48B | 6.69B | 6.17B | 5.96B | 4.53B | 5.28B |
| PE Ratio | 9.43 | 9.11 | 7.93 | 8.09 | 5.04 | 7.38 |
| PS Ratio | 4.55 | 4.98 | 4.65 | 5.07 | 4.18 | 4.89 |
| PB Ratio | 1.06 | 1.09 | 1.03 | 1.10 | 0.94 | 1.19 |
| P/FCF Ratio | 7.29 | 7.41 | 6.76 | 7.42 | 7.16 | 7.11 |
| P/OCF Ratio | 7.22 | 7.34 | 6.71 | 7.38 | 7.11 | 7.09 |
| EV/Sales Ratio | 4.87 | 5.30 | 4.96 | 5.37 | 4.53 | 5.14 |
| EV/EBITDA Ratio | 7.51 | 7.78 | 6.88 | 6.91 | 4.49 | 6.34 |
| EV/EBIT Ratio | 7.55 | 7.83 | 6.92 | 6.94 | 4.50 | 6.36 |
| EV/FCF Ratio | 7.80 | 7.88 | 7.21 | 7.85 | 7.74 | 7.48 |
| Debt / Equity Ratio | 0.09 | 0.09 | 0.10 | 0.09 | 0.10 | 0.10 |
| Debt / EBITDA Ratio | 0.57 | 0.61 | 0.59 | 0.53 | 0.43 | 0.51 |
| Debt / FCF Ratio | 0.60 | 0.63 | 0.62 | 0.61 | 0.74 | 0.60 |
| Net Debt / Equity Ratio | 0.07 | 0.07 | 0.07 | 0.06 | 0.08 | 0.08 |
| Net Debt / EBITDA Ratio | 0.49 | 0.48 | 0.45 | 0.37 | 0.35 | 0.41 |
| Net Debt / FCF Ratio | 0.51 | 0.48 | 0.47 | 0.42 | 0.61 | 0.49 |
| Quick Ratio | 1.10 | 2.59 | 1.62 | 2.26 | 0.83 | 0.64 |
| Current Ratio | 1.79 | 4.35 | 2.54 | 3.27 | 1.80 | 1.21 |
| Asset Turnover | 0.18 | 0.17 | 0.18 | 0.18 | 0.17 | 0.19 |
| Return on Equity (ROE) | 12.01% | 12.15% | 13.63% | 14.56% | 19.11% | 16.84% |
| Return on Assets (ROA) | 7.20% | 7.34% | 8.22% | 8.82% | 11.00% | 9.50% |
| Return on Invested Capital (ROIC) | 11.46% | 11.55% | 12.99% | 13.88% | 17.72% | 15.55% |
| Earnings Yield | 10.60% | 10.98% | 12.62% | 12.37% | 19.85% | 13.56% |
| FCF Yield | 13.71% | 13.51% | 14.78% | 13.48% | 13.97% | 14.06% |
| Dividend Yield | 2.09% | 1.88% | 2.03% | 1.89% | 2.21% | 1.52% |
| Payout Ratio | 19.59% | 17.69% | 16.18% | 15.25% | 11.08% | 11.40% |
| Buyback Yield / Dilution | 8.76% | 6.13% | 0.54% | 0.49% | 3.50% | -4.87% |
| Total Shareholder Return | 10.85% | 8.01% | 2.57% | 2.38% | 5.71% | -3.35% |