ESNT

MKT CAP:$6B

Essent Group Ltd.

Market Cap

$6B

Financial Services·Insurance - Specialty·🇧🇲 Bermuda·NYSE

Financials·Insurance·🇧🇲·NYSE

Stock Price

$63.62-$1.05 (-1.62%)

Apr 24, 2026

Company Details

Essent 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...

CEO

Mark Anthony Casale

IPO Date

Oct 31, 2013

Website

www.essentgroup.com

Key Metrics TTM

Revenue

$1.3B

+0.2% YoY

Net Income

$690M

EPS (Diluted)

$6.89

Free Cash Flow

$849M

Revenue / Share

$13.25

Gross Margin

88.3%

Operating Margin

64.1%

Net Margin

53.9%

FCF Margin

66.2%

P/S

4.7x

P/E

8.7x

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Feb 18, 2026

$1.3B-0.5%EPS $6.90

Q4 2025

Feb 18, 2026

$312M-7.9%EPS $1.60

Q3 2025

Nov 7, 2025

$319M+0.7%EPS $1.67

Q2 2025

Aug 8, 2025

$326M+2.3%EPS $1.93

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$265M	$371M	$328M
Q2 22	$244M	$321M	$276M
Q3 22	$262M	$258M	$211M
Q4 22	$230M	$226M	$173M
Q1 23	$256M	$256M	$201M
Q2 23	$260M	$259M	$209M
Q3 23	$296M	$285M	$209M
Q4 23	$297M	$278M	$203M
Q1 24	$304M	$294M	$214M
Q2 24	$319M	$319M	$239M
Q3 24	$317M	$286M	$208M
Q4 24	$339M	$298M	$195M
Q1 25	$324M	$293M	$207M
Q2 25	$326M	$309M	$231M
Q3 25	$319M	$274M	$199M
Q4 25	$312M	$256M	$185M

Valuation

Quarter	P/S	P/E
Q1 22	5.7x	7.3x
Q2 22	5.7x	6.7x
Q3 22	5.8x	6.9x
Q4 22	6.0x	7.2x
Q1 23	6.0x	8.2x
Q2 23	6.0x	9.0x
Q3 23	5.8x	9.0x
Q4 23	5.4x	8.6x
Q1 24	5.2x	8.5x
Q2 24	4.9x	8.1x
Q3 24	4.9x	8.1x
Q4 24	4.7x	8.2x
Q1 25	4.6x	8.3x
Q2 25	4.6x	8.4x
Q3 25	4.6x	8.5x
Q4 25	4.7x	8.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$181M	$180M
Q2 22	$63M	$62M
Q3 22	$173M	$172M
Q4 22	$172M	$171M
Q1 23	$185M	$184M
Q2 23	$168M	$167M
Q3 23	$195M	$194M
Q4 23	$215M	$213M
Q1 24	$217M	$212M
Q2 24	$189M	$188M
Q3 24	$229M	$229M
Q4 24	$227M	$216M
Q1 25	$222M	$221M
Q2 25	$190M	$189M
Q3 25	$216M	$211M
Q4 25	$229M	$228M

Capital Expenditures

Quarter	CapEx
Q1 22	$716.0K
Q2 22	$933.0K
Q3 22	$862.0K
Q4 22	$1M
Q1 23	$390.0K
Q2 23	$407.0K
Q3 23	$1M
Q4 23	$2M
Q1 24	$4M
Q2 24	$1M
Q3 24	$503.0K
Q4 24	$11M
Q1 25	$221.0K
Q2 25	$742.0K
Q3 25	$5M
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+8.1%	-183.3%
Q2 22	+0.5%	-159.5%
Q3 22	-7.7%	+38.0%
Q4 22	-10.5%	+43.0%
Q1 23	-3.2%	+186.1%
Q2 23	+6.4%	+261.8%
Q3 23	+13.1%	+70.4%
Q4 23	+29.2%	+65.3%
Q1 24	+18.6%	+64.1%
Q2 24	+22.5%	+56.3%
Q3 24	+6.9%	+25.8%
Q4 24	+14.1%	+53.0%
Q1 25	+6.6%	+29.8%
Q2 25	+2.3%	+19.4%
Q3 25	+0.7%	+9.7%
Q4 25	-7.9%	-11.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$5M	1.8%
Q2 22	$4M	1.7%
Q3 22	$5M	1.8%
Q4 22	$5M	2.0%
Q1 23	$5M	2.0%
Q2 23	$4M	1.7%
Q3 23	$4M	1.5%
Q4 23	$5M	1.5%
Q1 24	$7M	2.2%
Q2 24	$7M	2.2%
Q3 24	$7M	2.1%
Q4 24	$4M	1.2%
Q1 25	$9M	2.8%
Q2 25	$4M	1.2%
Q3 25	$4M	1.2%
Q4 25	-$17M	-5.4%

OpEx Breakdown

Quarter	G&A
Q1 22	$25M
Q2 22	$25M
Q3 22	$25M
Q4 22	$25M
Q1 23	$27M
Q2 23	$25M
Q3 23	$31M
Q4 23	$32M
Q1 24	$35M
Q2 24	$33M
Q3 24	$34M
Q4 24	$35M
Q1 25	$40M
Q2 25	$31M
Q3 25	$29M

Revenue Segments

Quarter	Corporate Segment	Mortgage Insurance Segment
Q1 25	$29M	$289M
Q2 25	$29M	$290M
Q3 25	$29M	$283M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$204M	$517M	$721M
Q2 22	$78M	$356M	$433M
Q3 22	$79M	$331M	$411M
Q4 22	$81M	$252M	$333M
Q1 23	$69M	$5.0B	$5.0B
Q2 23	$68M	$5.0B	$5.1B
Q3 23	$97M	$5.0B	$5.1B
Q4 23	$142M	$0	$142M
Q1 24	$164M	$5.4B	$5.5B
Q2 24	$197M	$5.5B	$5.7B
Q3 24	$109M	$6.0B	$6.1B
Q4 24	$131M	$5.9B	$6.0B
Q1 25	$208M	$5.9B	$6.1B
Q2 25	$92M	$6.0B	$6.1B
Q3 25	$91M	$6.1B	$6.2B
Q4 25	$123M	$6.1B	$6.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	109M	-1.3%	-3.4%
Q2 22	107M	-1.2%	-4.6%
Q3 22	107M	+0.1%	-3.6%
Q4 22	107M	+0.1%	-2.4%
Q1 23	108M	+0.2%	-0.9%
Q2 23	107M	-0.5%	-0.2%
Q3 23	107M	-0.1%	-0.3%
Q4 23	107M	-0.2%	-0.6%
Q1 24	107M	-0.0%	-0.8%
Q2 24	107M	+0.0%	-0.3%
Q3 24	107M	-0.2%	-0.4%
Q4 24	106M	-0.4%	-0.7%
Q1 25	104M	-2.0%	-2.6%
Q2 25	101M	-2.8%	-5.4%
Q3 25	101M	+0.1%	-5.1%
Q4 25	97M	-4.4%	-8.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$771.5K	343
Q2 22	$712.6K	343
Q3 22	$763.2K	343
Q4 22	$664.8K	346
Q1 23	$740.6K	346
Q2 23	$751.8K	346
Q3 23	$855.8K	346
Q4 23	$554.6K	536
Q1 24	$567.0K	536
Q2 24	$594.5K	536
Q3 24	$590.6K	536
Q4 24	$542.8K	625
Q1 25	$518.5K	625
Q2 25	$521.7K	625
Q3 25	$510.0K	625
Q4 25	$607.8K	514

Revenue / Employee