Essent Group Ltd. (ESNT) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.76	$2.08	+18.2%	—	$362.7M	—
Q1 26	$1.72	$1.82	+5.8%	—	$336.1M	—
Q4 25	$1.74	$1.6	-8.0%	—	$319.4M	—
Q3 25	$1.77	$1.67	-5.6%	—	$318.7M	—
Q2 25	$1.71	$1.93	+12.9%	—	$326.1M	—
Q1 25	$1.65	$1.69	+2.4%	—	$324.1M	—
Q4 24	$1.65	$1.58	-4.2%	—	$339.3M	—
Q3 24	$1.74	$1.65	-5.2%	—	$316.6M	—
Q2 24	$1.68	$1.91	+13.7%	—	$312.9M	—
Q1 24	$1.59	$1.7	+6.9%	—	$298.4M	—
Q4 23	$1.59	$1.64	+3.1%	—	$297.3M	—
Q3 23	$1.56	$1.66	+6.4%	—	$296.1M	—
Q2 23	$1.49	$1.61	+8.1%	—	$260.1M	—
Q1 23	$1.44	$1.59	+10.4%	—	$256.2M	—
Q4 22	$1.49	$1.37	-8.1%	—	$230M	—
Q3 22	$1.51	$1.66	+9.9%	—	$261.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.97	—	—	$1.3B	—
FY24	—	$6.92	—	—	$1.3B	—
FY23	—	$6.56	—	—	$1.1B	—
FY22	—	$7.75	—	—	$1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$458.3M	$576.5M	$719.4M	$867.6M	$955.2M	$1B	$1B	$1.1B	$1.3B	$1.3B
YoY change	+29.7%	+25.8%	+24.8%	+20.6%	+10.1%	+7.68%	-2.69%	+10.9%	+14.2%	+1.66%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	458.3M	576.5M	719.4M	867.6M	955.2M	1B	1B	1.1B	1.3B	1.3B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	84M	91M	90.1M	93.7M	93.1M	101.3M	100.3M	114.9M	136.4M	129.9M
Operating expenses	84M	91M	105.5M	111.2M	113.3M	119.5M	118.1M	158.6M	160.9M	155.8M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	5.7M	4.1M	4.5M	3.6M	10M	10.4M	18.4M	25M	24.9M	24M
Pretax income	311.9M	398.6M	546.7M	659.1M	490.1M	822.3M	988.2M	823M	855.5M	821.9M
Income tax	89.3M	18.8M	79.3M	103.3M	77.1M	140.5M	156.8M	126.6M	126.1M	131.9M
Net income	222.6M	379.7M	467.4M	555.7M	413M	681.8M	831.4M	696.4M	729.4M	690M
Net margin	48.6%	65.9%	65%	64.1%	43.2%	66.3%	83.1%	62.8%	57.6%	53.6%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	2.45	4.07	4.8	5.68	3.89	6.13	7.75	6.56	6.92	6.97
Diluted EPS	2.41	3.99	4.77	5.66	3.88	6.11	7.72	6.5	6.85	6.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	296.1M	297.3M	298.4M	312.9M	316.6M	339.3M	324.1M	326.1M	318.7M	319.4M	336.1M	362.7M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	31.4M	32.4M	34.7M	33.4M	33.8M	34.5M	39.7M	30.7M	29.2M	30.4M	36.7M	30.5M
Operating expenses	49.3M	48.7M	49.1M	48.5M	49.7M	11.7M	46.6M	37.2M	35.1M	36.9M	43.1M	37.1M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	5.6M	6.4M	3.7M	6.5M	7.4M	7.2M	6.3M	6.7M	4.4M	6.7M	6.7M	5M
Pretax income	209.4M	203M	213.7M	239.2M	207.6M	194.9M	207M	231.2M	199.2M	184.5M	206.7M	230.3M
Income tax	31.5M	27.6M	32M	35.6M	31.4M	27.1M	31.6M	35.8M	34.9M	29.5M	34.9M	40.6M
Net income	178M	175.4M	181.7M	203.6M	176.2M	167.9M	175.4M	195.3M	164.2M	155M	171.8M	189.7M
Net margin	60.1%	59%	60.9%	65.1%	55.6%	49.5%	54.1%	59.9%	51.5%	48.5%	51.1%	52.3%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	1.68	1.66	1.72	1.93	1.67	1.6	1.71	1.95	1.69	1.62	1.83	2.09
Diluted EPS	1.66	1.64	1.7	1.91	1.65	1.58	1.69	1.93	1.67	1.6	1.82	2.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.9B	4.1B	3.3B	5.1B	4.6B	5.1B	4.2B	5.6B	5.7B	6.4B	5.7B
Enterprise value	1.5B	2.2B	951.6M	2.1B	237M	436.7M	-233.9M	618.5M	223.4M	704.1M	5.5B
Shares outstanding	90.9M	93.3M	97.4M	97.8M	106.1M	111.2M	107.2M	106.2M	105.4M	99M	99M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	13.2	10.7	7.12	9.15	11.1	7.42	5.01	8.04	7.87	9.33	8.85
P/S	6.42	7.03	4.63	5.86	4.8	4.92	4.16	5.05	4.53	5	4.31
P/B	2.19	2.09	1.41	1.7	1.19	1.19	0.93	1.1	1.02	1.12	1.01
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	6.44
EV/Sales	3.27	3.82	1.32	2.43	0.25	0.42	-0.23	0.56	0.18	0.55	4.18
Earnings yield	7.56%	9.37%	14%	10.9%	9.01%	13.5%	19.9%	12.4%	12.7%	10.7%	11.3%
FCF yield	9.22%	9.03%	18.7%	11.5%	15.8%	14%	14%	13.5%	14.7%	13.2%	12.1%
PEG	—	—	—	—	—	—	—	—	—	—	1.23

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	65.8%
Net margin	48.6%	65.9%	65%	64.1%	43.2%	66.3%	83.1%	62.8%	57.6%	53.6%	51.5%
ROE	16.6%	19.6%	19.8%	18.6%	10.7%	16.1%	18.6%	13.6%	13%	12%	12%
ROA	—	—	—	—	—	—	—	—	10.3%	9.27%	7.2%
Return on tangible assets	—	—	—	—	—	—	—	—	10.4%	9.37%	9.06%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	1.79
Debt / equity	0.15	0.26	0.19	0.15	0.08	0.1	0.09	0.08	0.09	0.09	0.09
Debt / assets	—	—	—	—	—	—	—	—	0.07	0.07	0.07
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	-0.24
Interest coverage	733.1	78	54.7	65.9	55	100.3	64.3	28.3	25.2	26.1	26.1
Effective tax rate	28.6%	4.72%	14.5%	15.7%	15.7%	17.1%	15.9%	15.4%	14.7%	16%	17.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.04	6.18	7.39	8.87	9	9.25	9.34	10.4	12	13	14
EPS (basic)	2.45	4.07	4.8	5.68	3.89	6.13	7.75	6.56	6.92	6.97	6.97
EPS (diluted)	2.41	3.99	4.77	5.66	3.88	6.11	7.72	6.5	6.85	6.9	7.17
Book value per share	14.8	20.8	24.3	30.5	36.4	38.1	41.6	48	53.2	58.1	63
FCF per share	2.99	3.92	6.38	6	6.84	6.36	5.46	7.15	8.02	8.57	9.04
Cash per share	18.1	25.2	29	35	44	45.4	45	50.9	57	62.9	7.77
Capex per share	0.03	0.03	0.04	0.03	0.02	0.02	0.04	0.04	0.06	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.69%	0.48%	0.56%	0.39%	0.26%	0.24%	0.4%	0.36%	0.53%	—	—
Capex / operating cash flow	1.08%	0.75%	0.78%	0.55%	0.55%	0.32%	0.47%	0.52%	0.87%	—	—
Payout ratio	—	0%	0%	5.28%	16.8%	11.4%	11.1%	15.3%	16.2%	17.7%	18.4%
Dividend yield	—	0%	0%	0.58%	1.51%	1.54%	2.21%	1.9%	2.06%	1.9%	2.21%

Yield

2.21%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.35

ex-dividend Aug 31, 2026

Payout ratio

18%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.35
Jun 1, 2026	$0.35
Mar 13, 2026	$0.35
May 30, 2025	$0.31
Mar 14, 2025	$0.31
Dec 2, 2024	$0.28
Aug 30, 2024	$0.28
May 31, 2024	$0.28

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$296.1M	$297.3M	$298.4M	$312.9M	$316.6M	$339.3M	$324.1M	$326.1M	$318.7M	$319.4M	$336.1M	$362.7M
YoY change	+13.1%	+29.2%	+16.4%	+20.3%	+6.91%	+14.1%	+8.62%	+4.19%	+0.68%	-5.87%	+3.7%	+11.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.6B	2.3B	2.8B	3.4B	4.7B	5B	4.8B	5.4B	6B	6.2B
Receivables	21.6M	29.8M	36.9M	40.7M	50.1M	46.2M	57.4M	63.3M	50.1M	44.7M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	0	72.8M	79.6M	78.2M
Total assets	—	—	—	—	—	—	—	—	7.1B	7.4B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	100M	248.6M	223.7M	224.2M	321.7M	419.8M	420.9M	421.9M	0	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	100M	248.6M	223.7M	224.2M	—	—	—	—	494M	495.3M
Total liabilities	—	—	—	—	—	—	—	—	1.5B	1.7B
Shareholders' equity	1.3B	1.9B	2.4B	3B	3.9B	4.2B	4.5B	5.1B	5.6B	5.8B
Total debt	200M	497.2M	447.3M	448.5M	321.7M	419.8M	420.9M	421.9M	494M	495.3M
Net debt	172.5M	453.7M	382.4M	377.1M	218.9M	338.3M	339.6M	280.1M	362.5M	372.3M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	5.1B	5.4B	5.5B	5.7B	6.1B	6B	6.1B	6.1B	6.2B	6.2B	6.2B	6.1B
Receivables	68.3M	63.3M	68.9M	57M	54.4M	50.1M	53.1M	52.3M	53.7M	44.7M	144.1M	169.8M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	64.3M	72.8M	72.3M	70.3M	69.9M	79.6M	79.2M	78.9M	78.5M	78.2M	77.8M	77.5M
Total assets	—	—	6.6B	6.7B	7.1B	7.1B	7.2B	7.2B	7.4B	7.4B	7.6B	7.6B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	421.7M	421.9M	422.2M	422.4M	0	0	—	—	—	—	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	—	—	—	—	493.7M	494M	494.3M	494.6M	495M	495.3M	495.6M	496M
Total liabilities	—	—	1.3B	1.3B	1.5B	1.5B	1.5B	1.5B	1.6B	1.7B	1.9B	1.9B
Shareholders' equity	4.8B	5.1B	5.2B	5.4B	5.6B	5.6B	5.7B	5.7B	5.7B	5.8B	5.7B	5.7B
Total debt	421.7M	421.9M	422.2M	422.4M	493.7M	494M	494.3M	494.6M	495M	495.3M	495.6M	496M
Net debt	324.9M	280.1M	257.9M	225M	384.4M	362.5M	286.2M	402.5M	403.6M	372.3M	367.4M	421.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	222.6M	379.7M	467.4M	555.7M	413M	681.8M	831.4M	696.4M	729.4M	690M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	16.9M	18.7M	15.1M	16.6M	18.5M	20.8M	18.4M	18.4M	24.8M	20.8M
Change in working capital	-5.5M	-9.6M	-12.2M	-6.7M	-25.7M	-611K	-61.5M	60.9M	-11.2M	-6.3M
Operating cash flow	291.6M	369.4M	521M	625.1M	444.5M	786M	846.4M	762.5M	775.2M	856.1M
Capital expenditure	-3.2M	-2.8M	-4.1M	-3.4M	-2.4M	-2.5M	-4M	-4M	-6.8M	—
Investing cash flow	-365.3M	-690.1M	-546.9M	-545.1M	-1.2B	-583.2M	-398.9M	-525.6M	-696.9M	-147.4M
Dividends paid	—	0	0	-29.3M	-69.4M	-77.7M	-92.1M	-106.2M	-118M	-122.1M
Share repurchases	-4M	-7.6M	-31.4M	-9M	-6.4M	-163.9M	-97.9M	-70.7M	-111.5M	-587.7M
Financing cash flow	193.7M	487.6M	-82M	-38.4M	558M	-272.4M	-190.2M	-176.9M	-164.9M	-709.7M
Net change in cash	119.9M	166.9M	-107.9M	41.6M	-152M	-69.6M	257.3M	60M	-86.7M	-1.1M
Free cash flow	271.4M	365.8M	621.3M	586.4M	725.5M	706.8M	584.8M	759M	844.8M	848.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	178M	175.4M	181.7M	203.6M	176.2M	167.9M	175.4M	195.3M	164.2M	155M	171.8M	189.7M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	4.5M	4.5M	6.8M	7M	6.8M	4.2M	9M	4M	3.9M	4M	7.3M	3.4M
Change in working capital	-3.3M	971K	-4.6M	16.1M	-4M	-18.7M	-1.3M	2.9M	-2.3M	-5.7M	-123.4M	-40.1M
Operating cash flow	192.4M	187.2M	193.3M	238M	188.2M	155.7M	194.2M	189.5M	215.9M	229.1M	192M	197.1M
Capital expenditure	-1M	-2.2M	-4.5M	-1.1M	-503K	-721K	-221K	—	—	—	—	—
Investing cash flow	-134.8M	-129.2M	-151.3M	-104M	-343.7M	-97.9M	55.5M	-103.4M	-59.1M	-40.7M	17.4M	-26.6M
Dividends paid	-26.5M	-26.4M	-29.6M	-29.6M	-29.5M	-29.4M	-31.7M	-30.9M	-30.1M	-29.5M	-32.6M	-31.6M
Share repurchases	-5M	-14.8M	-13.6M	-22M	-9.6M	-66.3M	-168.8M	-170.5M	-122.1M	-126.2M	-170.9M	-191.8M
Financing cash flow	-31.5M	-41.2M	-43.2M	-51.6M	-39.1M	-96.6M	-200.5M	-201.4M	-152.2M	-155.7M	-203.4M	-223.4M
Net change in cash	26.1M	16.7M	-1.2M	82.4M	-194.6M	-38.9M	49.2M	-115.2M	4.6M	32.8M	6M	-53M
Free cash flow	194M	213.3M	212.5M	187.6M	228.7M	216M	221.3M	188.8M	210.6M	228M	191.2M	196.1M

Essent Group Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement