Essent Group Ltd. (ESNT) 10-Year Financial Performance & Capital Metrics

ESNT • • Insurance & Managed Care

Financial ServicesSpecialty InsuranceMortgage InsurancePrivate Mortgage Insurers

AboutEssent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services. It serves the originators of residential mortgage loans, such as regulated depository institutions, mortgage banks, credit unions, and other lenders. The company was founded in 2008 and is based in Hamilton, Bermuda.Show more

Revenue $1.27B +12.0%
Combined Ratio 32.49% +19.3%
Net Income $729M +4.7%
Return on Equity 13.63% -6.4%
Medical Cost Ratio 6.41% +129.8%
Operating Margin 67.51% -7.2%
Net Margin 57.56% -6.5%
ROA 10.78% -6.0%
Equity / Assets 78.8% -0.8%
Book Value per Share 52.59 +10.4%
Tangible BV/Share 52.59 +12.0%
Debt/Equity 0.09 +6.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Profitable underwriting: 32.5% combined ratio
✓Low loss ratio of 6.4%
✓Good 3Y average ROE of 15.8%
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y18.13%

5Y7.87%

3Y7.2%

TTM5.8%

Profit (Net Income) CAGR

10Y23.48%

5Y5.59%

3Y2.28%

TTM-4.61%

EPS CAGR

10Y20.86%

5Y3.89%

3Y3.88%

TTM-0.43%

ROCE

10Y Avg18.02%

5Y Avg14.84%

3Y Avg15.31%

Latest12.64%

Peer Comparison

Private Mortgage Insurers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MTGMGIC Investment Corporation	5.86B	26.20	9.07	4.56%	61.96%	14.57%	12.35%	0.12
ESNTEssent Group Ltd.	5.91B	61.13	8.92	12.03%	53.73%	12.25%	14.47%	0.09
ACTEnact Holdings, Inc.	5.58B	38.66	8.85	4.18%	53.87%	12.41%	12.29%	0.15
NMIHNMI Holdings, Inc.	2.89B	37.62	8.49	12.43%	55.02%	15.14%	13.37%	0.19
RDNRadian Group Inc.	4.46B	32.95	8.41	4.04%	45.61%	12.38%		0.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	353.29M	458.26M	576.51M	719.35M	867.57M	955.15M	1.03B	1.02B	1.13B	1.27B
Revenue Growth %	0.48%	0.3%	0.26%	0.25%	0.21%	0.1%	0.08%	-0.01%	0.11%	0.12%
Medical Costs & Claims+	0	0	27.23M	11.57M	32.99M	301.29M	31.06M	-174.7M	31.54M	81.22M
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	353.29M	458.26M	549.28M	707.78M	834.58M	653.86M	997.45M	1.19B	1.1B	1.19B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.52%	0.3%	0.2%	0.29%	0.18%	-0.22%	0.53%	0.2%	-0.08%	0.08%
Operating Expenses+	124.89M	146.38M	150.71M	161.08M	175.52M	163.76M	175.14M	204.85M	276.54M	330.44M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	3.22M	4.06M	3.92M	3.4M	3.77M	3.33M	3.38M	3.02M	4.53M	5.78M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	228.4M	311.88M	398.57M	546.7M	659.06M	490.1M	822.31M	988.19M	823M	855.49M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.68%	0.37%	0.28%	0.37%	0.21%	-0.26%	0.68%	0.2%	-0.17%	0.04%
EBITDA+	231.62M	315.95M	402.49M	550.1M	662.83M	493.42M	825.69M	991.21M	827.52M	861.27M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	0	426K	5.18M	10.18M	10.15M	9.07M	8.28M	15.61M	30.14M	35.32M
Non-Operating Income	0	-426K	-5.18M	-10.18M	-10.15M	-9.07M	-8.28M	-15.61M	-30.14M	-35.32M
Pretax Income+	228.4M	311.88M	398.57M	546.7M	659.06M	490.1M	822.31M	988.19M	823M	855.49M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	71.07M	89.28M	18.82M	79.34M	103.35M	77.06M	140.53M	156.83M	126.61M	126.09M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	157.33M	222.61M	379.75M	467.36M	555.71M	413.04M	681.78M	831.35M	696.39M	729.4M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.78%	0.41%	0.71%	0.23%	0.19%	-0.26%	0.65%	0.22%	-0.16%	0.05%
EPS (Diluted)+	1.72	2.41	3.99	4.77	5.66	3.88	6.11	7.72	6.50	6.85
EPS Growth %	0.67%	0.4%	0.66%	0.2%	0.19%	-0.31%	0.57%	0.26%	-0.16%	0.05%
EPS (Basic)	1.74	2.45	4.07	4.80	5.68	3.89	6.13	7.75	6.56	6.92
Diluted Shares Outstanding	91.74M	92.25M	95.21M	97.97M	98.23M	106.38M	111.56M	107.65M	107.13M	106.55M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.47B	1.88B	2.67B	3.15B	3.87B	5.2B	5.72B	5.72B	6.43B	7.11B
Asset Growth %	0.24%	0.28%	0.42%	0.18%	0.23%	0.34%	0.1%	0%	0.12%	0.11%
Total Investment Assets+	1.28B	1.62B	500K	30.95M	78.87M	88.9M	9.93B	-4.23B	277.23M	6.18B
Long-Term Investments	1.28B	1.62B	-2.3B	-2.73B	-3.27B	-4.48B	4.96B	-4.48B	277.23M	5.88B
Short-Term Investments	0	0	2.31B	2.76B	3.35B	4.57B	4.96B	252.03M	0	5.88B
Total Current Assets+	41.24M	49.16M	73.28M	101.83M	3.46B	4.72B	5.09B	390.67M	205.05M	0
Cash & Equivalents	24.61M	27.53M	43.52M	64.95M	71.35M	102.83M	81.49M	81.24M	141.79M	131.48M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	-1.28B	-1.62B	-2.31B	-2.76B	0	0	0	0	0	-6.55B
Goodwill & Intangibles+	15.04M	16.31M	17.64M	19.27M	18.35M	19.87M	15.09M	13.93M	72.83M	79.56M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	15.04M	16.31M	17.64M	19.27M	18.35M	19.87M	15.09M	13.93M	72.83M	0
PP&E (Net)	9.02M	8.12M	6.98M	7.63M	17.31M	15.1M	11.92M	19.57M	41.3M	41.87M
Other Assets	4.26M	18.67M	4.54B	5.56B	6.57B	9.04B	-44.19M	4.38B	3.64B	-6B
Total Liabilities	349.86M	539.23M	733.93M	784.25M	888.58M	1.34B	1.49B	1.26B	1.32B	1.51B
Total Debt+	0	100M	248.59M	223.66M	224.24M	321.72M	419.82M	420.86M	421.92M	493.96M
Net Debt	-24.61M	72.47M	205.07M	158.72M	152.89M	218.89M	338.33M	339.62M	280.13M	362.48M
Long-Term Debt	0	100M	248.59M	223.66M	224.24M	321.72M	419.82M	420.86M	421.92M	493.96M
Short-Term Debt	0	100M	248.59M	0	0	0	0	0	0	0
Total Current Liabilities+	119.41M	439.23M	252.16M	560.59M	664.34M	321.72M	419.82M	418.46M	500.25M	0
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	91.32M	305.34M	-32.62M	517.57M	597.87M	233.84M	328.07M	329M	361.18M	-176.75M
Deferred Taxes	1000K	0	1000K	0	0	1000K	1000K	1000K	0	1000K
Other Liabilities	0	0	357.7M	0	0	732.35M	-373.65M	65.35M	431.56M	-886.39M
Total Equity+	1.12B	1.34B	1.94B	2.37B	2.98B	3.86B	4.24B	4.46B	5.1B	5.6B
Equity Growth %	0.17%	0.2%	0.44%	0.22%	0.26%	0.29%	0.1%	0.05%	0.14%	0.1%
Shareholders Equity	1.12B	1.34B	1.94B	2.37B	2.98B	3.86B	4.24B	4.46B	5.1B	5.6B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	213.73M	436.33M	815.08M	1.28B	1.81B	2.15B	2.75B	3.49B	4.08B	4.69B
Common Stock	1.39M	1.4M	1.48M	1.47M	1.48M	1.69M	1.64M	1.61M	1.6M	1.57M
Accumulated OCI	-99K	-12.26M	-3.25M	-28.99M	56.19M	138.27M	50.71M	-382.79M	-280.5M	-303.98M
Return on Equity (ROE)	0.15%	0.18%	0.23%	0.22%	0.21%	0.12%	0.17%	0.19%	0.15%	0.14%
Return on Assets (ROA)	0.12%	0.13%	0.17%	0.16%	0.16%	0.09%	0.12%	0.15%	0.11%	0.11%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	-	0.07x	0.13x	0.09x	0.08x	0.08x	0.10x	0.09x	0.08x	0.09x
Book Value per Share	12.20	14.57	20.38	24.15	30.39	36.31	37.97	41.45	47.63	52.59
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	224.14M	273.48M	368.57M	625.32M	589.85M	727.93M	709.26M	588.82M	763M	861.53M
Operating CF Growth %	0.46%	0.22%	0.35%	0.7%	-0.06%	0.23%	-0.03%	-0.17%	0.3%	0.13%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	157.33M	222.61M	379.75M	467.36M	555.71M	413.04M	681.78M	831.35M	696.39M	729.4M
Depreciation & Amortization	3.22M	4.06M	3.92M	3.4M	3.77M	3.33M	3.38M	3.02M	4.53M	5.78M
Stock-Based Compensation	13.63M	16.88M	18.69M	15.07M	16.59M	18.46M	20.84M	18.38M	18.45M	24.78M
Deferred Taxes	52.16M	57.56M	-19.43M	50.69M	59.48M	38.65M	84.02M	58.17M	-13.25M	32.17M
Other Non-Cash Items	5.03M	7.47M	10.02M	13M	13.36M	22.19M	2.67M	16.95M	40.66M	29.05M
Working Capital Changes	-7.23M	-35.11M	-24.38M	75.79M	-59.06M	232.26M	-83.44M	-339.06M	16.23M	40.34M
Cash from Investing+	-220.71M	-365.32M	-690.14M	-546.9M	-545.08M	-1.15B	-583.17M	-398.87M	-525.57M	-706.93M
Capital Expenditures	-4.96M	-3.16M	-2.78M	-4.05M	-3.41M	-2.45M	-2.5M	-3.98M	-4M	-6.77M
Acquisitions	-127.25M	44.42M	178.33M	-30.54M	-47.54M	0	0	-72.9M	-86.76M	-33.14M
Purchase of Investments	-798.89M	-703.12M	-1.01B	-1.13B	-1.21B	-2B	-2.34B	-1.38B	-1.12B	-1.65B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	127.25M	-44.42M	-178.33M	0	0	0	0	0	-690.47M	-10M
Cash from Financing+	-3.23M	94.77M	337.56M	-56.99M	-38.37M	457.97M	-147.43M	-190.2M	-176.88M	-164.91M
Dividends Paid	0	0	0	0	-29.35M	-69.41M	-77.72M	-92.13M	-106.22M	-118.04M
Share Repurchases	-5.71M	-4.02M	-7.58M	-31.41M	-9.01M	-6.35M	-163.85M	-97.91M	-70.67M	-111.54M
Stock Issued	0	0	197.83M	0	0	439.96M	0	0	0	0
Debt Issuance (Net)	0	1000K	1000K	-1000K	0	1000K	1000K	0	0	1000K
Other Financing	1.94M	-1.21M	-2.69M	-580K	-15K	-6.23M	-5.85M	-154K	0	-8.49M
Net Change in Cash+	195K	2.92M	15.99M	21.42M	6.4M	31.48M	-21.34M	-251K	60.55M	-10.31M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	24.41M	24.61M	27.53M	43.52M	64.95M	71.35M	102.83M	81.49M	81.24M	141.79M
Cash at End	24.61M	27.53M	43.52M	64.95M	71.35M	102.83M	81.49M	81.24M	141.79M	131.48M
Free Cash Flow+	219.18M	270.31M	365.79M	621.27M	586.44M	725.49M	706.76M	584.84M	759M	854.77M
FCF Growth %	0.46%	0.23%	0.35%	0.7%	-0.06%	0.24%	-0.03%	-0.17%	0.3%	0.13%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	2.39	2.93	3.84	6.34	5.97	6.82	6.34	5.43	7.08	8.02

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	35.35%	31.94%	30.87%	24%	24.03%	48.69%	20.05%	2.96%	27.24%	32.49%
Medical Cost Ratio	0%	0%	4.72%	1.61%	3.8%	31.54%	3.02%	-17.16%	2.79%	6.41%
Return on Equity (ROE)	15.16%	18.08%	23.13%	21.71%	20.77%	12.06%	16.84%	19.11%	14.56%	13.63%
Return on Assets (ROA)	11.87%	13.28%	16.67%	16.05%	15.82%	9.1%	12.48%	14.53%	11.46%	10.78%
Equity / Assets	76.19%	71.36%	72.56%	75.1%	77.06%	74.24%	74.03%	77.96%	79.4%	78.8%
Book Value / Share	12.2	14.57	20.38	24.15	30.39	36.31	37.97	41.45	47.63	52.59
Debt / Equity	-	0.07x	0.13x	0.09x	0.08x	0.08x	0.10x	0.09x	0.08x	0.09x
Revenue Growth	47.53%	29.71%	25.8%	24.78%	20.6%	10.1%	7.68%	-0.99%	11.07%	12.03%

Revenue by Segment

	2024
Mortgage Insurance	1.13B
Mortgage Insurance Growth	-
Corporate	115.91M
Corporate Growth	-

Frequently Asked Questions

Valuation & Price

Essent Group Ltd. (ESNT) has a price-to-earnings (P/E) ratio of 8.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Essent Group Ltd. (ESNT) grew revenue by 12.0% over the past year. This is steady growth.

Yes, Essent Group Ltd. (ESNT) is profitable, generating $702.9M in net income for fiscal year 2024 (57.6% net margin).

Dividend & Returns

Yes, Essent Group Ltd. (ESNT) pays a dividend with a yield of 1.81%. This makes it attractive for income-focused investors.

Essent Group Ltd. (ESNT) has a return on equity (ROE) of 13.6%. This is reasonable for most industries.

Industry Metrics

Essent Group Ltd. (ESNT) has a combined ratio of 32.5%. A ratio below 100% indicates underwriting profitability.

US Stock Screener

...