Enact (ACT) financial statements
Enact reported revenue of $1.2B in fiscal 2025, up 4.0% a year over 6 years.
Net income was $674M and the operating margin 69.5%, against 73.4% in 2019.
The diluted share count fell 8% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Enact's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $979M | $1.1B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B |
| Selling, general and admin | — | $215M | $231M | $227M | $212M | $213M | $208M |
| Operating income | $718M | $472M | $695M | $898M | $852M | $878M | $859M |
| Interest expense | $0 | $18M | $51M | $52M | $52M | $51M | $50M |
| Pre-tax income | $718M | $472M | $695M | $898M | $852M | $878M | $859M |
| Income tax | $156M | $102M | $149M | $194M | $186M | $190M | $185M |
| Net income | $678M | $370M | $547M | $704M | $666M | $688M | $674M |
| EPS (diluted) | $4.16 | $2.27 | $3.36 | $4.31 | $4.11 | $4.37 | $4.52 |
| Diluted shares | 163M | 163M | 163M | 163M | 162M | 158M | 149M |
| Operating margin | 73.4% | 42.7% | 62.2% | 82.0% | 73.8% | 73.1% | 69.5% |
| Net margin | 69.2% | 33.5% | 48.9% | 64.3% | 57.7% | 57.3% | 54.6% |
Balance sheet
Fiscal years, from Enact's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $585M | $453M | $426M | $517M | $636M | $603M | $582M |
| Receivables | — | $46M | $42M | $42M | $45M | $53M | $46M |
| Total assets | — | $5.7B | $5.9B | $5.7B | $6.2B | $6.5B | $6.9B |
| Total liabilities | — | $1.8B | $1.8B | $1.6B | $1.6B | $1.5B | $1.5B |
| Shareholders' equity | $3.8B | $3.9B | $4.1B | $4.1B | $4.6B | $5.0B | $5.4B |
| Net debt | -$585M | -$453M | -$426M | -$514M | -$616M | -$599M | -$582M |
Cash flow
Fiscal years, from Enact's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $500M | $704M | $572M | $561M | $632M | $686M | $725M |
| Stock-based compensation | $0 | $0 | $1M | $10M | $15M | $19M | $19M |
| Dividends paid | $250M | $437M | $200M | $251M | $213M | $112M | $121M |
| Share buybacks (net) | — | $0 | $0 | -$2M | -$88M | -$244M | -$382M |
| Net borrowing | $0 | $738M | $0 | $0 | $0 | $750M | $0 |
| Dividends per share | $1.54 | $2.69 | $1.23 | $1.54 | $1.32 | $0.71 | $0.81 |
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What was Enact's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
From Enact's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.