ESNT FY 2015 Earnings Report — Essent Group Ltd. Revenue & Financial Results | Market Cap Arena

Essent Group Ltd.ESNT

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$353M	—	$239M	—	47.5%
Op. Income	$228M	—	$136M	—	68.0%
Gross Margin	100.0%	—	97.4%	—	2.6pp
Net Margin	44.5%	—	37.0%	—	7.6pp
EPS (Diluted)	$1.72	—	$1.03	—	67.0%
Free Cash Flow	$219M	—	$150M	—	46.3%

Revenue Flow

Item	Amount
REVENUE	$353M
Cost of Revenue	$0
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$72M
SG&A Expenses	$72M
Other Expenses	$53M
Operating Expenses	$125M
Cost & Expenses	$125M
OPERATING INCOME	$228M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$228M
Income Tax Expense	$71M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$3M
EBIT	$228M
EBITDA	$232M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$353M
Cost of Revenue	$0
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$72M
SG&A Expenses	$72M
Other Expenses	$53M
Operating Expenses	$125M
Cost & Expenses	$125M
OPERATING INCOME	$228M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$228M
Income Tax Expense	$71M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$3M
EBIT	$228M
EBITDA	$232M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$157M
Depreciation & Amortization	$3M
Stock-Based Compensation	$14M
Deferred Income Tax	$52M
Other Non-Cash Items	$5M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$224M
Capital Expenditure	-$5M
Acquisitions (Net)	-$127M
Purchases of Investments	-$799M
Sales/Maturities of Investments	$583M
Other Investing Activities	$127M
NET CASH FROM INVESTING	-$221M
Net Debt Issuance	$0
Common Stock Repurchased	-$6M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$219M
Net Change in Cash	$195.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$25M
Short-Term Investments	$0
Net Receivables	$17M
Inventory	$0
Other Current Assets	-$1.3B
TOTAL CURRENT ASSETS	$41M
PP&E (Net)	$9M
Goodwill	$0
Intangible Assets	$15M
Long-Term Investments	$1.3B
Tax Assets	$37M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$91M
TOTAL CURRENT LIABILITIES	$119M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$88M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$88M
TOTAL LIABILITIES	$350M
Common Stock	$1M
Additional Paid-In Capital	$904M
Retained Earnings	$214M
Treasury Stock	$0
Accum. Other Comp. Income	-$99.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$0
Net Debt	-$25M