Essent Group Ltd. ESNT

Financials SIC 6351 - Surety Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers derived NYSE

We serve the housing finance industry by providing private mortgage insurance and reinsurance, and title insurance and settlement services to mortgage lenders, borrowers and investors to support homeownership. We conduct our operations through two primary business segments: Mortgage Insurance and Reinsurance.

Our Mortgage Insurance segment offers private mortgage insurance for mortgages secured by residential properties located in the United States. We provide private mortgage insurance on residential first-lien mortgage loans in the U.S. ("mortgage insurance") through Essent Guaranty, a Pennsylvania-domiciled monoline mortgage guaranty insurance company licensed in all 50 states and the District of Columbia and approved by Fannie Mae and Freddie Mac, and also offer other credit risk management solutions, including contract underwriting, to our customers. For the years ended December 31, 2025, 2024 and 2023, we generated private mortgage insurance new insurance written, or NIW, of approximately $46.6 billion, $45.6 billion and $47.7 billion, respectively. As of December 31, 2025, we had approximately $248.4 billion of private mortgage insurance in force.

Last close 66.80 2026-10-23
Market cap $6.00B 2026-06-30 share count
52-week range 55.34 - 70.37

Valuation FY2025 figures against the last close

P/S4.8x
P/E9.7x
P/FCF7.1x
EV/EBITDA—
Dividend yield2.0%
Diluted EPS6.90

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.26B$1.24B$1.11B$1.00B$1.03B$955.2M$867.6M$719.4M$576.5M$458.3M
Interest expense $32.7M$35.3M$30.1M$15.6M$8.3M$9.1M$10.2M$10.2M$5.2M$426.0K
Pre-tax income $821.9M$855.5M$823.0M$988.2M$822.3M$490.1M$659.1M$546.7M$398.6M$311.9M
Income tax $131.9M$126.1M$126.6M$156.8M$140.5M$77.1M$103.3M$79.3M$18.8M$89.3M
Net income $690.0M$729.4M$696.4M$831.4M$681.8M$413.0M$555.7M$467.4M$379.7M$222.6M
EPS, basic 6.976.926.567.756.133.895.684.804.072.45
EPS, diluted 6.906.856.507.726.113.885.664.773.992.41
Shares, diluted (wtd. avg.) 100.0M106.5M107.1M107.7M111.6M106.4M98.2M98.0M95.2M92.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $123.0M$131.5M$141.8M$81.2M$81.5M$102.8M$71.3M$64.9M$43.5M$27.5M
Short-term investments ——————$315.4M$154.4M$312.7M$132.3M
Property, plant and equipment ——$41.3M$19.6M$11.9M$15.1M$17.3M$7.6M$7.0M$8.1M
Goodwill $48.8M$48.8M$50.0M$0——————
Total assets $7.44B$7.11B$6.43B$5.72B$5.72B$5.20B$3.87B$3.15B$2.67B$1.88B
Total liabilities $1.68B$1.51B$1.32B$1.26B$1.49B$1.34B$888.6M$784.3M$733.9M$539.2M
Retained earnings $5.26B$4.69B$4.08B$3.49B$2.75B$2.15B$1.81B$1.28B$815.1M$436.3M
Total equity $5.76B$5.60B$5.10B$4.46B$4.24B$3.86B$2.98B$2.37B$1.94B$1.34B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $856.1M$861.5M$763.0M$588.8M$709.3M$727.9M$589.8M$625.3M$368.6M$274.6M
Depreciation and amortisation $5.2M$5.8M$4.5M$3.0M$3.4M$3.3M$3.8M$3.4M$3.9M$4.1M
Stock-based compensation $20.8M$24.8M$18.4M$18.4M$20.8M$18.5M$16.6M$15.1M$18.7M$16.9M
Capital expenditure $7.4M$6.8M$4.0M$4.0M$2.5M$2.4M$3.4M$4.1M$2.8M$3.2M
Investing cash flow -$154.7M-$706.9M-$525.6M-$398.9M-$583.2M-$1.15B-$545.1M-$546.9M-$690.1M-$365.3M
Financing cash flow -$709.7M-$164.9M-$176.9M-$190.2M-$147.4M$458.0M-$38.4M-$57.0M$337.6M$93.7M
Dividends paid $122.1M$118.0M$106.2M$92.1M$77.7M$69.4M$29.3M$0$0—
Buybacks $587.7M$111.5M$70.7M$97.9M$163.9M$6.4M$9.0M$31.4M$7.6M$4.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001448893-26-000009.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 458.3M Net income, FY2016: 222.6M Revenue, FY2017: 576.5M Net income, FY2017: 379.7M Revenue, FY2018: 719.4M Net income, FY2018: 467.4M Revenue, FY2019: 867.6M Net income, FY2019: 555.7M Revenue, FY2020: 955.2M Net income, FY2020: 413M Revenue, FY2021: 1B Net income, FY2021: 681.8M Revenue, FY2022: 1B Net income, FY2022: 831.4M Revenue, FY2023: 1.1B Net income, FY2023: 696.4M Revenue, FY2024: 1.2B Net income, FY2024: 729.4M Revenue, FY2025: 1.3B Net income, FY2025: 690M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $458.3M $576.5M $719.4M $867.6M $955.2M $1.03B $1.00B $1.11B $1.24B $1.26B
Gross profit — — — — — — — — — —
Net income $222.6M $379.7M $467.4M $555.7M $413.0M $681.8M $831.4M $696.4M $729.4M $690.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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