Essent Group (ESNT) financial statements
Essent Group reported revenue of $1.3B in fiscal 2025, up 11.9% a year over 9 years.
Net income was $690M and the operating margin 65.2%, against 68.1% in 2016.
Free cash flow was $849M, and the company returned $122M in dividends and $588M in net buybacks.
The diluted share count rose 8% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Essent Group's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $458M | $577M | $719M | $868M | $955M | $1.0B | $1.0B | $1.1B | $1.2B | $1.3B |
| Operating income | $312M | $399M | $547M | $659M | $490M | $822M | $988M | $823M | $855M | $822M |
| Interest expense | $426,000 | $5M | $10M | $10M | $9M | $8M | $16M | $30M | $35M | $33M |
| Pre-tax income | $312M | $399M | $547M | $659M | $490M | $822M | $988M | $823M | $855M | $822M |
| Income tax | $89M | $19M | $79M | $103M | $77M | $141M | $157M | $127M | $126M | $132M |
| Net income | $223M | $380M | $467M | $556M | $413M | $682M | $831M | $696M | $729M | $690M |
| EPS (diluted) | $2.41 | $3.99 | $4.77 | $5.66 | $3.88 | $6.11 | $7.72 | $6.50 | $6.85 | $6.90 |
| Diluted shares | 92M | 95M | 98M | 98M | 106M | 112M | 108M | 107M | 107M | 100M |
| Operating margin | 68.1% | 69.1% | 76.0% | 76.0% | 51.3% | 80.0% | 98.7% | 74.2% | 68.8% | 65.2% |
| Net margin | 48.6% | 65.9% | 65.0% | 64.1% | 43.2% | 66.3% | 83.1% | 62.8% | 58.7% | 54.7% |
Balance sheet
Fiscal years, from Essent Group's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $160M | $356M | $219M | $387M | $103M | $81M | $81M | $142M | $131M | $123M |
| Property, plant and equipment | $8M | $7M | $8M | $17M | $15M | $12M | $20M | $41M | $42M | $49M |
| Goodwill | — | — | — | — | — | — | $0 | $50M | $49M | $49M |
| Total assets | $1.9B | $2.7B | $3.1B | $3.9B | $5.2B | $5.7B | $5.7B | $6.4B | $7.1B | $7.4B |
| Long-term debt | $100M | — | — | — | — | — | — | — | — | — |
| Total liabilities | $539M | $734M | $784M | $889M | $1.3B | $1.5B | $1.3B | $1.3B | $1.5B | $1.7B |
| Shareholders' equity | $1.3B | $1.9B | $2.4B | $3.0B | $3.9B | $4.2B | $4.5B | $5.1B | $5.6B | $5.8B |
| Net debt | $72M | -$44M | -$65M | -$71M | -$103M | -$81M | -$81M | -$142M | -$131M | -$123M |
Cash flow
Fiscal years, from Essent Group's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $275M | $369M | $625M | $590M | $728M | $709M | $589M | $763M | $862M | $856M |
| Capital spending | $3M | $3M | $4M | $3M | $2M | $2M | $4M | $4M | $7M | $7M |
| Free cash flow | $271M | $366M | $621M | $586M | $725M | $707M | $585M | $759M | $855M | $849M |
| Stock-based compensation | $17M | $19M | $15M | $17M | $18M | $21M | $18M | $18M | $25M | $21M |
| Dividends paid | — | $0 | $0 | $29M | $69M | $78M | $92M | $106M | $118M | $122M |
| Share buybacks (net) | -$4M | -$8M | -$31M | -$9M | -$6M | -$164M | -$98M | -$71M | -$112M | -$588M |
| Free cash flow margin | 59.2% | 63.4% | 86.4% | 67.6% | 76.0% | 68.7% | 58.4% | 68.4% | 68.8% | 67.3% |
| Dividends per share | — | — | — | $0.30 | $0.65 | $0.70 | $0.86 | $0.99 | $1.11 | $1.22 |
Questions
What was Essent Group's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Essent Group generate?
$849M in fiscal 2025 (operating cash flow minus capital spending).
From Essent Group's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.