Essent Group Ltd. (ESNT) financial statements: income statement, balance sheet and cash flow
Essent Group Ltd.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Essent Group Ltd. reported revenue of $1.3B (+1.5% year on year) and net income of $690.0M (-5.4% year on year).
Income statement
Essent Group Ltd. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net premiums written
$959.5M
$966.6M
$894.3M
$820.0M
Decrease in unearned premiums
$24.3M
$24.3M
$22.6M
$22.5M
Net premiums earned
$983.7M
$990.9M
$916.9M
$842.5M
Net investment income
$236.5M
$222.1M
$186.1M
$124.4M
Realized investment gains (losses), net
($923.0K)
($2.4M)
($7.2M)
($13.2M)
Income from other invested assets
$17.6M
$7.4M
($11.1M)
$28.7M
Other income
$24.0M
$24.9M
$25.0M
$18.4M
Total revenues
$1.3B
$1.2B
$1.1B
$1.0B
Provision for losses and LAE
$149.3M
$81.2M
$31.5M
($174.7M)
Other underwriting and operating expenses
$257.0M
$270.9M
$200.4M
$171.7M
Interest Expense, Operating
$32.7M
—
—
—
Total losses and expenses
$439.1M
$387.4M
$286.8M
$12.6M
Income (loss) before income taxes
$821.9M
$855.5M
$823.0M
$988.2M
Income tax expense
$131.9M
$126.1M
$126.6M
$156.8M
Net income
$690.0M
$729.4M
$696.4M
$831.4M
Basic (in dollars per share)
$6.97
$6.92
$6.56
$7.75
Diluted (in dollars per share)
$6.90
$6.85
$6.50
$7.72
Basic (in shares)
99.0M
105.4M
106.2M
107.2M
Diluted (in shares)
100.0M
106.5M
107.1M
107.7M
Change in unrealized appreciation (depreciation) of investments, net of tax expense (benefit) of $26,691 in 2025, $(7,818) in 2024 and $17,944 in 2023
$152.0M
($23.5M)
$102.3M
($433.5M)
Total other comprehensive income (loss)
$152.0M
($23.5M)
$102.3M
($433.5M)
Comprehensive income
$842.0M
$705.9M
$798.7M
$397.9M
Essent Group Ltd. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net premiums written
$307.3M
$394.7M
$241.8M
$241.5M
(Increase) decrease in unearned premiums
($30.5M)
($134.6M)
$4.5M
$7.3M
Net premiums earned
$276.8M
$260.1M
$246.3M
$248.8M
Net investment income
$61.6M
$59.3M
$59.8M
$59.3M
Realized investment gains (losses), net
($111.0K)
($147.0K)
($425.0K)
($129.0K)
Income from other invested assets
$19.4M
$10.2M
$1.8M
$4.5M
Other income
$5.0M
$6.7M
$4.4M
$6.7M
Total revenues
$362.7M
$336.1M
$311.8M
$319.1M
Provision for losses and LAE
$49.0M
$48.2M
$44.9M
$17.1M
Other underwriting and operating expenses
$75.3M
$73.0M
$59.5M
$62.8M
Interest expense
$8.1M
$8.1M
$8.3M
$8.1M
Total losses and expenses
$132.4M
$129.3M
$112.7M
$88.0M
Income before income taxes
$230.3M
$206.7M
$199.2M
$231.2M
Income tax expense
$40.6M
$34.9M
$34.9M
$35.8M
Net income
$189.7M
$171.8M
$164.2M
$195.3M
Basic (in dollars per share)
$2.09
$1.83
$1.69
$1.95
Diluted (in dollars per share)
$2.08
$1.82
$1.67
$1.93
Basic (in shares)
90.7M
93.8M
97.4M
100.0M
Diluted (in shares)
91.4M
94.6M
98.5M
101.1M
Unrealized (depreciation) appreciation of investments, net of tax (benefit) expense of $231 and $2,070 in the three months ended June 30, 2026 and 2025, and ($7,178) and $13,365 in the six months ended June 30, 2026 and 2025, respectively.
($2.7M)
($36.0M)
$50.2M
$16.6M
Total other comprehensive income (loss)
($2.7M)
($36.0M)
$50.2M
$16.6M
Comprehensive income
$187.0M
$135.8M
$214.5M
$211.9M
Balance sheet
Essent Group Ltd. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total investments available for sale
$6.1B
$5.9B
$5.3B
$4.7B
Other invested assets
$382.5M
$303.9M
$277.2M
$257.9M
Total investments
$6.5B
$6.2B
$5.5B
$5.0B
Cash
$123.0M
$131.5M
$141.8M
$81.2M
Accrued investment income
$47.4M
$43.7M
$35.7M
$33.2M
Accounts receivable
$51.3M
$55.6M
$63.3M
$57.4M
Deferred policy acquisition costs
$9.5M
$9.7M
$9.1M
$9.9M
Property, equipment and software (at cost, less accumulated depreciation of $71,466 in 2025 and $72,270 in 2024)
$49.2M
$41.9M
—
—
Prepaid federal income tax
$513.4M
$489.6M
$470.6M
$418.5M
Goodwill and acquired intangible assets, net
$78.2M
$79.6M
$72.8M
—
Other assets
$82.4M
$79.6M
$51.1M
$104.5M
Total assets
$7.4B
$7.1B
$6.4B
$5.7B
Reserve for losses and LAE
$446.8M
$328.9M
$260.1M
$216.5M
Unearned premium reserve
$91.7M
$116.0M
$140.3M
$162.9M
Net deferred tax liability
$465.4M
$392.4M
$362.8M
$356.8M
Senior notes due 2029, net
$495.3M
$494.0M
—
—
Other accrued liabilities
$185.1M
$176.8M
$139.1M
$104.5M
Total liabilities
$1.7B
$1.5B
$1.3B
$1.3B
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 95,456 shares in 2025 and 105,015 shares in 2024
1.4M
1.6M
1.6M
1.6M
Additional paid-in capital
$649.9M
$1.2B
$1.3B
$1.4B
Accumulated other comprehensive income (loss)
($152.0M)
($304.0M)
($280.5M)
($382.8M)
Retained earnings
$5.3B
$4.7B
$4.1B
$3.5B
Total stockholders' equity
$5.8B
$5.6B
$5.1B
$4.5B
Total liabilities and stockholders' equity
$7.4B
$7.1B
$6.4B
$5.7B
Essent Group Ltd. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Total investments available for sale
$6.0B
$6.0B
$6.1B
$6.0B
Other invested assets
$441.9M
$394.3M
$370.1M
$359.8M
Total investments
$6.5B
$6.4B
$6.5B
$6.3B
Cash
$74.3M
$128.3M
$91.4M
$92.1M
Accrued investment income
$48.3M
$44.9M
$43.0M
$45.9M
Accounts receivable
$169.8M
$144.1M
$53.7M
$52.3M
Deferred policy acquisition costs
$68.9M
$56.9M
$9.2M
$9.2M
Property, equipment and software (at cost, less accumulated depreciation of $73,197 in 2026 and $71,466 in 2025)
$47.8M
$48.3M
$50.0M
$42.4M
Prepaid federal income tax
$496.3M
$513.4M
$490.5M
$497.4M
Goodwill and acquired intangible assets, net
$77.5M
$77.8M
$78.5M
$78.9M
Other assets
$128.5M
$113.6M
$75.9M
$75.9M
Total assets
$7.6B
$7.6B
$7.4B
$7.2B
Reserve for losses and LAE
$518.8M
$485.7M
$397.1M
$364.7M
Unearned premium reserve
$256.8M
$226.3M
$96.6M
$102.4M
Net deferred tax liability
$449.7M
$452.6M
$438.2M
$427.2M
Senior Notes due 2029, net
$496.0M
$495.6M
$495.0M
$494.6M
Other liabilities
$207.1M
$213.1M
$186.2M
$158.8M
Total liabilities
$1.9B
$1.9B
$1.6B
$1.5B
Common shares, $0.015 par value: Authorized - 233,333; issued and outstanding - 92,153 shares in 2026 and 95,456 shares in 2025
1.3M
1.4M
1.5M
1.5M
Additional paid-in capital
$298.7M
$486.7M
$770.6M
$888.3M
Accumulated other comprehensive loss
($190.7M)
($187.9M)
($165.4M)
($215.7M)
Retained earnings
$5.6B
$5.4B
$5.1B
$5.0B
Total stockholders’ equity
$5.7B
$5.7B
$5.7B
$5.7B
Total liabilities and stockholders’ equity
$7.6B
$7.6B
$7.4B
$7.2B
Cash flow statement
Essent Group Ltd. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$690.0M
$729.4M
$696.4M
$831.4M
Realized investment losses, net
$923.0K
$2.4M
$7.2M
$13.2M
(Income) loss from other invested assets
($17.6M)
($7.4M)
$11.1M
($28.7M)
Distribution of income from other invested assets
$12.7M
$13.8M
$7.4M
$14.1M
Depreciation and amortization
$5.2M
$5.8M
$4.5M
$3.0M
Loss on disposal of property and equipment
$68.0K
—
—
—
Stock-based compensation expense
$20.8M
$24.8M
$18.4M
$18.4M
Amortization of premium on investment securities
$14.4M
$20.2M
$14.9M
$18.3M
Deferred income tax provision (benefit)
$48.6M
$32.2M
($13.2M)
$58.2M
Accrued investment income
($3.6M)
($8.0M)
($2.5M)
($6.6M)
Accounts receivable
$4.4M
$7.5M
($2.1M)
($11.2M)
Deferred policy acquisition costs
$106.0K
($515.0K)
$771.0K
$2.3M
Prepaid federal income tax
($23.8M)
($19.0M)
($52.2M)
($57.6M)
Other assets
($10.7M)
($18.7M)
$63.0M
($50.3M)
Reserve for losses and LAE
$118.0M
$68.8M
$29.0M
($191.0M)
Unearned premium reserve
($24.3M)
($24.3M)
($22.6M)
($22.5M)
Other accrued liabilities
$20.9M
$34.6M
$2.9M
($2.0M)
Net cash provided by operating activities
$856.1M
$861.5M
$763.0M
$588.8M
Net change in short-term investments
$115.5M
$164.7M
($655.6M)
$61.1M
Purchase of investments available for sale
($1.1B)
($1.6B)
($1.1B)
($1.4B)
Proceeds from maturities and paydowns of investments available for sale
$831.4M
$411.6M
$664.2M
$247.3M
Proceeds from sales of investments available for sale
$99.8M
$415.1M
$707.5M
$747.9M
Purchase of other invested assets
($77.8M)
($39.1M)
($40.0M)
($74.6M)
Return of investment from other invested assets
$4.1M
$5.9M
$5.2M
$1.7M
Net cash paid in acquisition
$0
$0
($86.8M)
—
Purchase of intangible assets
$0
($10.0M)
—
—
Purchases of property and equipment and capitalization of internal-use software
($7.4M)
($6.8M)
($4.0M)
($4.0M)
Net cash used in investing activities
($154.7M)
($706.9M)
($525.6M)
($398.9M)
Issuance of senior notes
$0
$498.2M
—
—
Credit facility repayments
$0
($425.0M)
$0
$0
Treasury stock acquired
($587.7M)
($111.5M)
($70.7M)
($97.9M)
Payment of debt issuance costs
$0
($8.5M)
$0
($154.0K)
Dividends paid
($122.1M)
($118.0M)
($106.2M)
($92.1M)
Net cash used in financing activities
($709.7M)
($164.9M)
($176.9M)
($190.2M)
Net (decrease) increase in cash
($8.4M)
($10.3M)
$60.5M
($251.0K)
Cash at beginning of year
$131.5M
$141.8M
$81.2M
$81.5M
Cash at end of year
$123.0M
$131.5M
$141.8M
$81.2M
Income tax payments
($91.2M)
($92.5M)
($139.7M)
($98.0M)
Interest payments
($31.3M)
($17.2M)
($28.6M)
($13.6M)
Property, equipment, and capitalized internal-use software costs included in other liabilities
$3.6M
—
—
—
Operating lease liabilities arising from obtaining right-of-use assets
$4.9M
$2.1M
$23.7M
$10.0M
Essent Group Ltd. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$361.5M
$171.8M
$535.0M
$370.8M
Realized investment losses, net
$258.0K
$147.0K
$735.0K
$310.0K
Income from other invested assets
($29.6M)
($10.2M)
($13.6M)
($11.9M)
Distribution of income from other invested assets
$6.5M
$1.3M
$8.5M
$3.3M
Depreciation and amortization
$2.4M
$1.2M
$4.0M
$2.7M
Stock-based compensation expense
$10.7M
$7.3M
$16.8M
$12.9M
Amortization of premium on investment securities
$6.2M
$3.8M
$10.5M
$7.0M
Deferred income tax provision (benefit)
($8.3M)
($5.2M)
$23.4M
$21.4M
Accrued investment income
($935.0K)
$2.5M
$728.0K
($2.2M)
Accounts receivable
($118.4M)
($92.9M)
$1.9M
$3.8M
Deferred policy acquisition costs
($59.3M)
($47.4M)
$462.0K
$416.0K
Prepaid federal income tax
$17.1M
$0
($856.0K)
($7.8M)
Other assets
($45.0M)
($30.4M)
($2.6M)
($2.1M)
Reserve for losses and LAE
$72.0M
$38.8M
$68.3M
$35.9M
Unearned premium reserve
$165.1M
$134.6M
($19.4M)
($13.6M)
Other accrued liabilities
$8.8M
$16.6M
($6.9M)
($9.9M)
Net cash provided by operating activities
$389.1M
$192.0M
$627.0M
$411.1M
Net change in short-term investments
$24.6M
$25.5M
$123.9M
$181.0M
Purchase of investments available for sale
($535.8M)
($257.4M)
($810.9M)
($602.3M)
Proceeds from maturity and paydowns of investments available for sale
$463.9M
$213.0M
$630.9M
$414.9M
Proceeds from sales of investments available for sale
$74.3M
$39.3M
$10.4M
$6.2M
Purchase of other invested assets
($40.0M)
($5.7M)
($63.7M)
($48.6M)
Return of investment from other invested assets
$3.7M
$2.8M
$2.7M
$1.2M
Purchase of property and equipment and capitalization of internal-use software
($1.8M)
($818.0K)
($6.2M)
($963.0K)
Net cash used in investing activities
($11.0M)
$16.6M
($112.9M)
($48.6M)
Treasury stock acquired
($362.7M)
($170.9M)
($461.5M)
($339.4M)
Dividends paid
($64.2M)
($32.6M)
($92.6M)
($62.5M)
Net cash used in financing activities
($426.9M)
($203.4M)
($554.1M)
($401.9M)
Net decrease in cash
($48.7M)
$5.2M
($40.1M)
($39.4M)
Cash at beginning of year
$123.0M
$123.0M
$131.5M
$131.5M
Cash at end of period
$74.3M
$128.3M
$91.4M
$92.1M
Income tax payments
($73.5M)
($6.0M)
($90.5M)
($53.7M)
Interest payments
($15.6M)
($15.6M)
($31.3M)
($15.6M)
Excise taxes payable for share repurchases
$0
—
$950.0K
$950.0K
Property, equipment, and capitalized internal-use software costs included in other liabilities
$98.0K
$85.0K
$3.7M
—
Lease liabilities arising from obtaining right-of-use assets