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    Essent (ESNT)

    Market Price (7/22/2026): $65.475 | Market Cap: $6.1 BilSector: Financials | Industry: Commercial & Residential Mortgage Finance

    Essent (ESNT)

    Market Price (7/22/2026): $65.475
    Market Cap: $6.1 Bil
    Sector: Financials
    Industry: Commercial & Residential Mortgage Finance

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.7%, FCF Yield is 13%

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -92%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%

    Low stock price volatility
    Vol 12M is 23%

    Megatrend and thematic drivers
    Megatrends include Financial System Resilience. Themes include Mortgage Credit Risk Management, and Housing Market Stability.

    Trading close to highs
    Dist 52W High is -1.8%, Dist 3Y High is -1.8%

    Weak multi-year price returns
    2Y Excs Rtn is -21%, 3Y Excs Rtn is -21%

    Key risks
    ESNT key risks include [1] adverse changes to its essential partners Fannie Mae and Freddie Mac (the GSEs), Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 2.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.7%, FCF Yield is 13%
    1 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -92%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 63%
    3 Low stock price volatility
    Vol 12M is 23%
    4 Megatrend and thematic drivers
    Megatrends include Financial System Resilience. Themes include Mortgage Credit Risk Management, and Housing Market Stability.
    5 Trading close to highs
    Dist 52W High is -1.8%, Dist 3Y High is -1.8%
    6 Weak multi-year price returns
    2Y Excs Rtn is -21%, 3Y Excs Rtn is -21%
    7 Key risks
    ESNT key risks include [1] adverse changes to its essential partners Fannie Mae and Freddie Mac (the GSEs), Show more.

    ESNT in ETFs

    Weight = ESNT's share of each fund

    VTI0.01%
    ITOT0.01%
    IWM0.18%
    IJH0.17%
    VYM0.02%
    VB0.07%
    AVUV0.52%
    IWN0.39%
    +18 more covered ETFs

    Valuation & Metrics

    FYE: 12/31ESNT [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$1.3 Bil—
    FY 2026 Sales$1.3 Bil—
    FY 2027 Sales$1.4 Bil—
    FY 2026 Sales Growth0.0%—
    FY 2027 Sales Growth5.0%8.2%
    EARNINGS
    LTM Net Income (GAAP) [3]$686.3 Mil—
    FY 2026 Net Income (Non-GAAP)$714.2 Mil—
    FY 2027 Net Income (Non-GAAP)$759.5 Mil—
    FY 2027 Net Income Growth6.3%16.4%
    FY 2026 EPS (Non-GAAP)$7.15—
    FY 2027 EPS (Non-GAAP)$7.52—
    FY 2027 EPS Growth5.1%—
    VALUATION
    FY 2026 P/S4.73.2
    FY 2027 P/S4.5—
    FY 2026 P/E8.619.6
    FY 2027 P/E8.1—

    [1] ESNT forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 7/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    ESNTS&P 500
    REVENUE GROWTHFAIR
    Rev LTM ($ Bil)1.3
    Rev Chg Q5.8%8.9%
    Rev Chg LTM1.5%7.5%
    Rev Chg 3Y Avg9.0%5.9%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.8
    Net Inc LTM ($ Bil)0.7
    CFO/Rev LTM63.6%21.4%
    Net Inc Mgn52.8%13.0%
    VALUATIONLOW
    P/S4.73.3
    P/CFO7.415.3
    P/FCF7.520.1
    P/E9.024.3

    AI Analysis | Feedback

    MetricValueDateSource
    New insurance written$12.2 billion9302025Link
    Insurance in force$248.8 billion9302025Link
    Annual persistency rate86.0%9302025Link
    Default rate2.29%9302025Link
    Number of loans in default18,5839302025Link
    Combined Ratio33.9%9302025Link

    Price Chart

    Upcoming
    8/07/2026Earnings ReleaseRev: $321 Mil (E)
    EPS: $1.77 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 7/1/2026

    Essent (ESNT) stock has gained about 15% since 3/31/2026 because of the following key factors:

    1. Strong Fiscal Q1 2026 Financial Outperformance: Essent Group (ESNT) reported robust financial results for fiscal Q1 2026 (ended March 31, 2026), which were announced on May 8, 2026. The company exceeded analyst expectations with an earnings per share (EPS) of $1.82, beating the consensus estimate of $1.68 by $0.14, or 6.04%. Quarterly revenue also surpassed forecasts, reaching $336.07 million, approximately 7% higher than estimates and a 5.8% increase year-over-year. This strong performance signaled continued profitability and operational efficiency, contributing positively to investor sentiment.

    2. Robust Capital Management and Shareholder Returns: Essent demonstrated a commitment to returning value to shareholders through both dividends and a substantial share repurchase program. The company declared a quarterly cash dividend of $0.35 per common share. Additionally, Essent repurchased approximately 3.5 million common shares for over $214 million year-to-date through April 30, 2026. This proactive approach to capital allocation likely bolstered investor confidence in the company's financial health and management strategy.

    Show more
    Updated on 7/1/2026

    Essent (ESNT) stock has gained about 15% since 3/31/2026 because of the following key factors:

    1. Strong Fiscal Q1 2026 Financial Outperformance: Essent Group (ESNT) reported robust financial results for fiscal Q1 2026 (ended March 31, 2026), which were announced on May 8, 2026. The company exceeded analyst expectations with an earnings per share (EPS) of $1.82, beating the consensus estimate of $1.68 by $0.14, or 6.04%. Quarterly revenue also surpassed forecasts, reaching $336.07 million, approximately 7% higher than estimates and a 5.8% increase year-over-year. This strong performance signaled continued profitability and operational efficiency, contributing positively to investor sentiment.

    2. Robust Capital Management and Shareholder Returns: Essent demonstrated a commitment to returning value to shareholders through both dividends and a substantial share repurchase program. The company declared a quarterly cash dividend of $0.35 per common share. Additionally, Essent repurchased approximately 3.5 million common shares for over $214 million year-to-date through April 30, 2026. This proactive approach to capital allocation likely bolstered investor confidence in the company's financial health and management strategy.

    3. Favorable Credit Trends and Strong Underwriting: The company benefited from sustained favorable credit trends and disciplined underwriting practices within its core mortgage insurance business. Essent's mortgage insurance in force (IIF) increased by 1.3% year-over-year to $247.9 billion as of March 31, 2026. New insurance written (NIW) for fiscal Q1 2026 also rose to $11.1 billion, up from $9.9 billion in the prior year's comparable quarter. These factors, coupled with a strong portfolio credit quality (weighted average FICO of 747), contributed to a lower loss ratio and stable cash flow generation.

    4. Strategic Diversification and Reinsurance Expansion: Essent expanded its business mix with the launch of a property and casualty (P&C) reinsurance platform in January 2026, projected to generate $120 million in written premiums during 2026. The company also entered into an excess-of-loss reinsurance transaction, effective July 1, 2027. This strategic diversification beyond traditional mortgage insurance through new reinsurance streams was viewed as a positive for long-term earnings growth and overall business resilience.

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    Stock Movement Drivers

    Fundamental Drivers

    The 12.7% change in ESNT stock from 3/31/2026 to 7/21/2026 was primarily driven by a 11.1% change in the company's P/E Multiple.
    (LTM values as of)33120267212026Change
    Stock Price ($)58.0965.4812.7%
    Change Contribution By: 
    Total Revenues ($ Mil)1,2821,3001.4%
    Net Income Margin (%)53.8%52.8%-1.9%
    P/E Multiple8.19.011.1%
    Shares Outstanding (Mil)96942.0%
    Cumulative Contribution12.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 7/21/2026
    ReturnCorrelation
    ESNT12.7% 
    Market (SPY)15.1%-14.6%
    Sector (XLF)13.7%34.5%

    Fundamental Drivers

    The 2.0% change in ESNT stock from 12/31/2025 to 7/21/2026 was primarily driven by a 3.8% change in the company's Shares Outstanding (Mil).
    (LTM values as of)123120257212026Change
    Stock Price ($)64.2265.482.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1,2841,3001.3%
    Net Income Margin (%)54.7%52.8%-3.6%
    P/E Multiple8.99.00.6%
    Shares Outstanding (Mil)97943.8%
    Cumulative Contribution2.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    12/31/2025 to 7/21/2026
    ReturnCorrelation
    ESNT2.0% 
    Market (SPY)10.0%-0.3%
    Sector (XLF)3.0%38.6%

    Fundamental Drivers

    The 10.2% change in ESNT stock from 6/30/2025 to 7/21/2026 was primarily driven by a 9.7% change in the company's Shares Outstanding (Mil).
    (LTM values as of)63020257212026Change
    Stock Price ($)59.4165.4810.2%
    Change Contribution By: 
    Total Revenues ($ Mil)1,2811,3001.5%
    Net Income Margin (%)56.5%52.8%-6.5%
    P/E Multiple8.59.05.9%
    Shares Outstanding (Mil)103949.7%
    Cumulative Contribution10.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2025 to 7/21/2026
    ReturnCorrelation
    ESNT10.2% 
    Market (SPY)22.1%5.1%
    Sector (XLF)8.4%40.5%

    Fundamental Drivers

    The 49.0% change in ESNT stock from 6/30/2023 to 7/21/2026 was primarily driven by a 38.6% change in the company's P/E Multiple.
    (LTM values as of)63020237212026Change
    Stock Price ($)43.9665.4849.0%
    Change Contribution By: 
    Total Revenues ($ Mil)1,0101,30028.7%
    Net Income Margin (%)72.1%52.8%-26.8%
    P/E Multiple6.59.038.6%
    Shares Outstanding (Mil)1079414.0%
    Cumulative Contribution49.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2023 to 7/21/2026
    ReturnCorrelation
    ESNT49.0% 
    Market (SPY)74.8%34.9%
    Sector (XLF)73.9%57.2%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    ESNT Return7%-13%39%5%22%3%71%
    Peers Return14%13%38%19%17%8%165%
    S&P 500 Return27%-19%24%23%16%9%98%

    Monthly Win Rates [3]
    ESNT Win Rate50%42%67%42%67%43% 
    Peers Win Rate58%58%71%62%65%57% 
    S&P 500 Win Rate75%42%67%75%67%43% 

    Max Drawdowns [4]
    ESNT Max Drawdown-21%-29%-17%-18%-10%-14% 
    Peers Max Drawdown-18%-23%-14%-15%-13%-13% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: MTG, ACT, RDN, ACGL, NMIH. See ESNT Returns vs. Peers.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 7/21/2026 (YTD)

    How Low Can It Go

    EventESNTS&P 500
    2023 SVB Regional Banking Crisis
      % Loss-14.9%-6.7%
      % Gain to Breakeven17.5%7.1%
      Time to Breakeven53 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-22.8%-24.5%
      % Gain to Breakeven29.5%32.4%
      Time to Breakeven232 days427 days
    2020 COVID-19 Crash
      % Loss-58.6%-33.7%
      % Gain to Breakeven141.3%50.9%
      Time to Breakeven295 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-28.3%-19.2%
      % Gain to Breakeven39.5%23.8%
      Time to Breakeven53 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-41.5%-12.2%
      % Gain to Breakeven70.9%13.9%
      Time to Breakeven273 days62 days
    2014-2016 Oil Price Collapse
      % Loss-20.9%-6.8%
      % Gain to Breakeven26.5%7.3%
      Time to Breakeven79 days15 days

    Compare to MTG, ACT, RDN, ACGL, NMIH

    In The Past

    Essent's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventESNTS&P 500
    2022 Inflation Shock & Fed Tightening
      % Loss-22.8%-24.5%
      % Gain to Breakeven29.5%32.4%
      Time to Breakeven232 days427 days
    2020 COVID-19 Crash
      % Loss-58.6%-33.7%
      % Gain to Breakeven141.3%50.9%
      Time to Breakeven295 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-28.3%-19.2%
      % Gain to Breakeven39.5%23.8%
      Time to Breakeven53 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-41.5%-12.2%
      % Gain to Breakeven70.9%13.9%
      Time to Breakeven273 days62 days
    2014-2016 Oil Price Collapse
      % Loss-20.9%-6.8%
      % Gain to Breakeven26.5%7.3%
      Time to Breakeven79 days15 days

    Compare to MTG, ACT, RDN, ACGL, NMIH

    In The Past

    Essent's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.2% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Essent (ESNT)

    ```html

    Essent Group Ltd. (ESNT) is a Bermuda-based company that primarily operates within the United States residential mortgage market. Founded in 2008, its core business revolves around providing private mortgage insurance and reinsurance. Essentially, Essent helps protect lenders from potential financial losses if borrowers default on mortgages secured by residential properties.

    The company offers a range of mortgage insurance products, including primary, pool, and master policies, which are critical tools for risk management for mortgage originators. In addition to these insurance offerings, Essent provides supplementary services. These include information technology maintenance and development, customer support, underwriting consulting, and contract underwriting services, further supporting its clients in the mortgage lending ecosystem.

    Essent's primary customers are the originators of residential mortgage loans in the United States. This includes a broad spectrum of financial institutions such as regulated depository institutions, mortgage banks, credit unions, and various other lenders. By providing essential risk mitigation and support services, Essent plays a vital role in enabling these institutions to confidently and securely operate in the U.S. housing finance market.

    ```

    AI Analysis | Feedback

    Essent is like Chubb for mortgage lenders, insuring them against borrower defaults.

    Think of Essent as a private sector Fannie Mae focused on insuring banks' mortgage loans.

    AI Analysis | Feedback

    • Mortgage Insurance: Provides private mortgage insurance and reinsurance (including primary, pool, and master policies) to protect lenders against financial losses from mortgage defaults on residential properties.
    • Information Technology Services: Offers maintenance and development services related to information technology.
    • Customer Support Services: Provides services focused on customer assistance and support.
    • Underwriting Consulting: Delivers advisory services pertaining to mortgage underwriting processes.
    • Contract Underwriting Services: Offers outsourced underwriting services for residential mortgage loans on a contractual basis.

    AI Analysis | Feedback

    Essent Group Ltd. (ESNT) primarily sells its private mortgage insurance and reinsurance products to other companies. Based on the provided background information, Essent serves the originators of residential mortgage loans, which include the following categories of customers:
    • Regulated depository institutions
    • Mortgage banks
    • Credit unions
    • Other lenders
    The provided background information does not list the specific names of major customer companies.

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    Mark A. Casale, CEO & Chairman

    Mr. Casale is the founder, Chief Executive Officer, and Chairman of the Board of Directors of Essent Group Ltd.. He has over 25 years of experience in financial services, including senior roles in mortgage banking, mortgage insurance, bond insurance, and capital markets. Mr. Casale founded Essent Group Ltd. in 2008 with $500 million of equity funding. Under his leadership, Essent has grown significantly and manages approximately $240 billion of insurance in force.

    David Weinstock, Senior Vice President, Chief Financial Officer

    Mr. Weinstock was appointed Chief Financial Officer in March 2023, after serving as interim Chief Financial Officer since June 2022, and as Vice President and Chief Accounting Officer since 2009. He brings over 25 years of experience in finance, accounting, and controls. Before joining Essent, Mr. Weinstock held senior management positions at Advanta Corp., including chief accounting officer and vice president of investor relations. He began his career as a senior manager at Arthur Andersen LLP.

    Christopher G. Curran, President, Essent Guaranty, Inc.

    Mr. Curran has served as President of Essent Guaranty since 2021, having previously been Senior Vice President of Corporate Development since 2011. He has over 30 years of experience in mortgage insurance, mortgage banking, and financial services. As President, Mr. Curran oversees Essent's mortgage insurance business, including risk management, business development, information technology, operations, marketing, and public policy. He began his career as a CPA with Arthur Andersen LLP, specializing in financial services.

    Paul Wollmann, President and Chief Underwriting Officer, Essent Reinsurance Ltd.

    Mr. Wollmann has served as President and Chief Underwriting Officer of Essent Reinsurance Ltd. since May 2021, and has been with Essent Re since 2009. He has extensive experience in structured finance and reinsurance. Prior to joining Essent Re, he was a managing director, structured & asset-backed finance at RAM Holdings Ltd. from 2007 to 2009. Mr. Wollmann was also a managing director at RCS Limited and Ritchie Capital Management (Bermuda) Limited, alternative asset management firms, from 2004 to 2007.

    AI Analysis | Feedback

    Here are the key risks to Essent Group Ltd. (ESNT):

    1. Market Volatility and Economic Uncertainty: Essent's business is highly susceptible to fluctuations in the broader economic environment and housing market. Factors such as interest rate changes, unemployment rates, and shifts in housing values directly influence the demand for mortgage insurance, the value of the company's investment portfolio, and the frequency and severity of claims and loss reserves. Economic downturns or instability can lead to reduced mortgage originations and increased borrower delinquencies.
    2. Regulatory Changes and Government-Sponsored Enterprises (GSEs): As a private mortgage insurer, Essent operates within a highly regulated industry. Changes in federal legislation or policies, particularly those affecting Fannie Mae and Freddie Mac (GSEs), or alterations to mortgage insurer eligibility requirements, could significantly impact Essent's operations, market position, and profitability.
    3. Credit Quality Deterioration and Intense Competition: The company faces risks associated with the credit quality of insured mortgages, including rising delinquency rates which necessitate higher loss provisions and directly impact profitability. This risk is compounded by an intensely competitive landscape, where rivals may employ aggressive pricing strategies or relaxed underwriting guidelines to gain market share, potentially eroding Essent's position and pressuring its financial performance.

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    The addressable markets for Essent Group Ltd.'s main products and services are in the United States.

    Private Mortgage Insurance (PMI)

    The U.S. private mortgage insurance (PMI) market is a significant component of the housing finance system. At the end of 2023, the industry insured nearly $1.6 trillion in outstanding mortgages with active private MI coverage. In 2024, private mortgage insurers supported approximately $300 billion in mortgage originations. Globally, the private mortgage insurance market is projected to reach $6.84 billion in 2025 and is forecast to grow to $9.71 billion by 2029. North America currently represents the largest share of the global PMI market.

    Mortgage Reinsurance

    The U.S. mortgage reinsurance market facilitates the transfer of credit risk for private mortgage insurers. U.S. private mortgage insurers consistently cede a meaningful portion of their premiums to reinsurance. In 2024, the average amount of premiums ceded by private mortgage insurers was 31.5%. Since 2015, the private mortgage insurance industry has transferred nearly $80.7 billion in risk exposure through various credit risk transfer mechanisms, including insurance-linked notes and traditional reinsurance transactions. This includes the transfer of over $75.2 billion in risk on more than $3.5 trillion of insurance-in-force (IIF) through MI Credit Risk Transfer (MI-CRT) structures.

    AI Analysis | Feedback

    Here are 3-5 expected drivers of future revenue growth for Essent Group Ltd. (ESNT) over the next 2-3 years:
    1. Growth in Mortgage Insurance in Force and New Insurance Written: Essent's core business relies on its mortgage insurance portfolio. While the near-term mortgage origination market may experience modest growth due to high interest rates, the long-term outlook remains positive due to favorable demographic trends, particularly millennials entering the first-time homebuyer age. The company has consistently shown an increase in its mortgage insurance in force.
    2. Increased Net Investment Income: Essent maintains a substantial consolidated cash and investment portfolio. The company has seen increases in its net investment income, driven by a modest increase in the overall portfolio yield, with new money yields around 5%. This strong investment performance is expected to continue contributing to revenue.
    3. Expansion of Reinsurance Activities (Essent Re): Essent is expanding its reinsurance operations, particularly through Essent Re. Notably, the company entered into quota share reinsurance agreements to reinsure certain property and casualty (P&C) risks in the Lloyd's market, effective in the first quarter of 2026. These agreements are expected to generate $100 million-$150 million in written premium in 2026, with approximately two-thirds expected to be earned in the same year. This expansion provides a new avenue for revenue growth and diversification.
    4. High Persistency Rates: Elevated mortgage interest rates are anticipated to maintain high persistency rates for Essent's existing mortgage insurance policies in the near term. High persistency means policyholders are less likely to refinance or move, keeping existing insurance policies in force longer and contributing to a stable stream of earned premiums.

    AI Analysis | Feedback

    Share Repurchases

    • In January 2026, Essent Group authorized a new $500 million share repurchase program extending through year-end 2027.
    • The company repurchased 9.9 million common shares for $576 million in 2025.
    • Year-to-date through October 31, 2025, Essent repurchased nearly 9 million shares for over $500 million.

    Outbound Investments

    • Essent acquired Agents National Title Holding Company and Boston National Holdings LLC in 2023 or 2024, thereby expanding its service portfolio into title insurance and settlement services.
    • Essent Re strategically entered the Lloyd's of London market and initiated new property & casualty reinsurance agreements effective in 2026, as part of a diversification strategy.
    • These P&C reinsurance agreements through Essent Re are expected to generate between $100 million and $150 million in written premium for 2026.

    Capital Expenditures

    • Essent's capital expenditures were approximately $4.002 million in 2024 and $6.766 million in 2025.
    • Projected capital expenditures for 2026 are approximately $7.364 million.
    • Capital expenditures include technology investments, such as EssentEDGE, focused on enhancing underwriting processes, risk assessment, and customer service.

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    HTZHertz Global0.6-63.4%-64.0%
    AIAIAIAI0.5-59.2%-55.1%
    HYLNHyliion0.7-52.1%110.9%
    ALOYREalloys0.5-49.4%-4.7%
    ABTCAmerican Bitcoin6.6-49.3%-74.6%
    NVTSNavitas Semiconductor2.9-46.6%79.6%
    WOLFWolfspeed1.2-44.7%82.3%
    EOSEEos Energy Enterprises1.4-44.6%-63.0%
    YSSYork Space Systems2.2-41.6%-46.5%

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    Peer Comparisons

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    Financials

    ESNTMTGACTRDNACGLNMIHMedian
    NameEssent MGIC Inv.Enact Radian Arch Cap.NMI  
    Mkt Price65.4829.1045.5138.48100.5541.8543.68
    Mkt Cap6.16.36.45.335.53.26.2
    Rev LTM1,3001,2041,2411,37419,0787171,271
    Op Inc LTM-------
    FCF LTM8197057223335,859428713
    FCF 3Y Avg820717716456,225386717
    CFO LTM8277067223375,902434714
    CFO 3Y Avg829718716516,273394717

    Growth & Margins

    ESNTMTGACTRDNACGLNMIHMedian
    NameEssent MGIC Inv.Enact Radian Arch Cap.NMI  
    Rev Chg LTM1.5%-1.2%2.0%13.5%8.1%7.3%4.6%
    Rev Chg 3Y Avg9.0%1.2%3.9%4.6%21.3%10.3%6.8%
    Rev Chg Q5.8%-3.0%1.7%58.2%-4.7%5.9%3.8%
    QoQ Delta Rev Chg LTM1.4%-0.8%0.4%14.3%-1.1%1.4%0.9%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM63.6%58.6%58.2%24.5%30.9%60.6%58.4%
    CFO/Rev 3Y Avg66.2%60.0%59.3%3.4%37.8%59.6%59.5%
    FCF/Rev LTM63.0%58.5%58.2%24.3%30.7%59.7%58.4%
    FCF/Rev 3Y Avg65.5%59.9%59.3%2.9%37.5%58.4%58.9%

    Valuation

    ESNTMTGACTRDNACGLNMIHMedian
    NameEssent MGIC Inv.Enact Radian Arch Cap.NMI  
    Mkt Cap6.16.36.45.335.53.26.2
    P/S4.75.25.23.81.94.44.6
    P/Op Inc-------
    P/EBIT7.26.77.16.46.46.16.6
    P/E9.08.89.59.47.38.38.9
    P/CFO7.48.98.915.66.07.38.2
    Total Yield13.2%13.5%12.4%13.4%13.7%12.1%13.3%
    Dividend Yield2.0%2.1%1.9%2.7%0.0%0.0%2.0%
    FCF Yield 3Y Avg13.5%11.5%12.8%1.2%17.7%12.7%12.7%
    D/E0.10.10.10.20.10.10.1
    Net D/E-0.9-0.8-0.3-1.1-0.3-0.0-0.6

    Returns

    ESNTMTGACTRDNACGLNMIHMedian
    NameEssent MGIC Inv.Enact Radian Arch Cap.NMI  
    1M Rtn12.0%11.7%7.4%10.9%10.3%11.7%11.3%
    3M Rtn4.3%4.6%5.9%9.6%1.7%5.2%4.9%
    6M Rtn9.0%11.7%19.7%17.7%9.5%10.8%11.3%
    12M Rtn19.6%16.7%33.0%16.8%14.8%9.4%16.8%
    3Y Rtn41.7%87.9%88.3%59.7%28.5%24.9%50.7%
    1M Excs Rtn11.9%11.6%7.2%10.8%10.2%11.6%11.2%
    3M Excs Rtn-0.5%-1.0%0.5%4.4%-2.5%-1.4%-0.8%
    6M Excs Rtn0.6%3.2%9.8%9.8%2.7%1.9%3.0%
    12M Excs Rtn0.9%-1.2%14.2%-2.0%-5.4%-9.1%-1.6%
    3Y Excs Rtn-21.0%27.2%21.8%-2.4%-29.3%-41.8%-11.7%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
    Period End3/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/2023
    Filing Date5/8/20262/18/202611/7/20258/8/20255/9/20252/19/202511/5/20248/6/20245/7/20242/16/202411/7/20238/8/2023
    Key Financials Quarterly            
    Total Revenue336319319326318322323319304319296260
    Net Income172155164195175168176204182175178172
    EPS1.831.621.691.951.711.601.671.931.721.661.681.62
    Key Financials TTM            
    Total Revenue TTM1,3001,2821,2841,2881,2811,2671,2641,2371,1791,1311,0601,026
    Net Income TTM686690703715723729737739707696668668
    Growth Rates Quarterly            
    Total Revenue Growth5.8%-0.7%-1.3%2.3%4.5%0.9%9.1%22.5%18.6%28.7%13.1%6.4%
    Net Income Growth-2.1%-7.7%-6.8%-4.1%-3.5%-4.3%-1.0%18.2%6.4%19.0%-0.1%-25.7%
    Margins Quarterly            
    Net Income Margin51.1%48.5%51.5%59.9%55.2%52.2%54.5%63.9%59.8%55.0%60.1%66.2%
    Cash & Debt            
    Total Cash6,1776,2276,1816,0596,0906,0086,0605,6525,5335,4065,0945,090
    Total Debt496495495495494494494422422422422421
    Net Debt / (Cash)-5,681-5,732-5,686-5,564-5,596-5,514-5,566-5,230-5,111-4,984-4,673-4,669
    Cash Flows Quarterly            
    FCF from Operations192229216190222227229189217215195168
    Cash Flows TTM            
    FCF from Operations TTM827856854867866862850816795763720697
    Returns to Shareholders Quarterly            
    Dividends332930313229293030262627
    Share Repurchases1711261221711696610221415530
    Return on Invested Capital (ROIC) Quarterly            
    ROIC------------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM------------

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Mortgage Insurance1,0541,0301,053  
    Corporate & Other11811657  
    Reinsurance9097   
    Ceding commission2724   
    Single Segment   1,0011,029
    Total1,2881,2671,1101,0011,029


    Price Behavior

    Price Behavior
    Market Price$65.48 
    Market Cap ($ Bil)6.1 
    First Trading Date10/31/2013 
    Distance from 52W High-1.8% 
       50 Days200 Days
    DMA Price$61.15$60.91
    DMA Trendindeterminateup
    Distance from DMA7.1%7.5%
     3M1YR
    Volatility26.2%22.8%
    Downside Capture-115.56-21.03
    Upside Capture-65.594.59
    Correlation (SPY)-23.9%4.5%
    ESNT Betas & Captures as of 6/30/2026

     1M2M3M6M1Y3Y
    Beta-0.43-0.24-0.160.060.130.52
    Up Beta-0.000.910.460.650.700.66
    Down Beta0.710.07-0.140.03-0.100.49
    Up Capture-29%-33%-10%-12%4%19%
    Bmk +ve Days11244067140429
    Stock +ve Days12213465128402
    Down Capture-159%-115%-116%-20%-6%68%
    Bmk -ve Days10172358112321
    Stock -ve Days9202960123346

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ESNT
    ESNT20.3%22.8%0.74-
    Sector ETF (XLF)8.1%14.6%0.3240.2%
    Equity (SPY)20.3%12.6%1.194.0%
    Gold (GLD)21.6%28.1%0.69-10.2%
    Commodities (DBC)31.4%19.1%1.30-20.9%
    Real Estate (VNQ)15.0%14.0%0.7631.0%
    Bitcoin (BTCUSD)-44.6%42.9%-1.25-10.9%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ESNT
    ESNT10.6%25.0%0.38-
    Sector ETF (XLF)10.7%18.5%0.4567.7%
    Equity (SPY)12.9%17.1%0.5853.3%
    Gold (GLD)17.3%18.4%0.76-1.6%
    Commodities (DBC)8.9%19.5%0.357.1%
    Real Estate (VNQ)2.9%18.9%0.0554.4%
    Bitcoin (BTCUSD)14.9%53.4%0.4621.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with ESNT
    ESNT12.4%38.6%0.43-
    Sector ETF (XLF)13.7%22.0%0.5661.5%
    Equity (SPY)15.2%17.9%0.7250.0%
    Gold (GLD)11.2%16.1%0.57-3.2%
    Commodities (DBC)7.2%17.9%0.3216.6%
    Real Estate (VNQ)5.1%20.7%0.2150.5%
    Bitcoin (BTCUSD)58.7%66.2%0.9913.9%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date6302026
    Short Interest: Shares Quantity2.7 Mil
    Short Interest: % Change Since 61520266.9%
    Average Daily Volume1.3 Mil
    Days-to-Cover Short Interest2.0 days
    Basic Shares Quantity93.8 Mil
    Short % of Basic Shares2.9%

    Returns Analyses

    Earnings Returns History

    Updated 6/11/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/8/20262.5%-2.3%-7.2%
    2/13/2026-6.4%-8.0%-11.2%
    11/7/20250.5%0.7%2.0%
    8/8/20255.7%10.2%12.5%
    5/9/2025-0.3%0.5%-1.5%
    2/14/2025-2.6%-3.0%-4.8%
    11/1/2024-10.4%-7.9%-4.5%
    8/2/2024-2.1%-2.9%5.4%
    ...
    SUMMARY STATS   
    # Positive141213
    # Negative101211
    Median Positive1.8%2.0%4.2%
    Median Negative-2.2%-2.8%-7.2%
    Max Positive5.7%10.2%12.5%
    Max Negative-10.4%-8.0%-11.2%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/8/20262.5%-2.3%-7.2%
    2/13/2026-6.4%-8.0%-11.2%
    11/7/20250.5%0.7%2.0%
    8/8/20255.7%10.2%12.5%
    5/9/2025-0.3%0.5%-1.5%
    2/14/2025-2.6%-3.0%-4.8%
    11/1/2024-10.4%-7.9%-4.5%
    8/2/2024-2.1%-2.9%5.4%
    5/3/20240.5%4.1%7.0%
    2/9/2024-2.2%1.1%5.2%
    11/2/20230.6%0.5%3.2%
    8/4/20233.2%1.9%-0.2%
    5/5/20233.9%6.3%10.3%
    2/10/2023-0.2%2.1%-9.9%
    11/4/2022-1.3%3.8%0.1%
    8/5/20220.6%0.8%-8.3%
    5/6/20221.7%-2.6%4.0%
    2/11/20220.4%-1.8%-7.9%
    11/5/20212.1%-0.4%-7.7%
    8/6/20213.6%2.7%1.7%
    5/7/20210.6%-3.9%-1.2%
    2/19/20211.9%-5.0%0.7%
    11/6/2020-2.2%-0.0%8.0%
    8/7/2020-0.7%-0.5%4.2%
    SUMMARY STATS   
    # Positive141213
    # Negative101211
    Median Positive1.8%2.0%4.2%
    Median Negative-2.2%-2.8%-7.2%
    Max Positive5.7%10.2%12.5%
    Max Negative-10.4%-8.0%-11.2%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    03/31/202605/08/202610-Q
    12/31/202502/18/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/08/202510-Q
    03/31/202505/09/202510-Q
    12/31/202402/19/202510-K
    09/30/202411/05/202410-Q
    06/30/202408/06/202410-Q
    03/31/202405/07/202410-Q
    12/31/202302/16/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/08/202310-Q
    03/31/202305/10/202310-Q
    12/31/202202/17/202310-K
    09/30/202211/08/202210-Q
    06/30/202208/08/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    03/31/202605/08/202610-Q
    12/31/202502/18/202610-K
    09/30/202511/07/202510-Q
    06/30/202508/08/202510-Q
    03/31/202505/09/202510-Q
    12/31/202402/19/202510-K
    09/30/202411/05/202410-Q
    06/30/202408/06/202410-Q
    03/31/202405/07/202410-Q
    12/31/202302/16/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/08/202310-Q
    03/31/202305/10/202310-Q
    12/31/202202/17/202310-K
    09/30/202211/08/202210-Q
    06/30/202208/08/202210-Q
    03/31/202205/06/202210-Q
    12/31/202102/16/202210-K
    09/30/202111/08/202110-Q
    06/30/202108/06/202110-Q
    03/31/202105/07/202110-Q
    12/31/202002/26/202110-K
    09/30/202011/06/202010-Q
    06/30/202008/10/202010-Q
    03/31/202005/08/202010-Q
    12/31/201902/18/202010-K
    09/30/201911/08/201910-Q
    06/30/201908/05/201910-Q

    Insider Activity

    Updated 7/20/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell720202667.044,678313,61315,329,232Form
    2Casale, MarkChairman, CEO and PresidentDirectSell715202665.2378,6995,133,536135,779,115Form
    3Casale, MarkChairman, CEO and PresidentDirectSell715202665.0723,9001,555,173140,567,012Form
    4Casale, MarkChairman, CEO and PresidentDirectSell708202665.3529,3291,916,650142,733,745Form
    5Casale, MarkChairman, CEO and PresidentDirectSell708202665.081,24581,025144,052,758Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell720202667.044,678313,61315,329,232Form
    2Casale, MarkChairman, CEO and PresidentDirectSell715202665.2378,6995,133,536135,779,115Form
    3Casale, MarkChairman, CEO and PresidentDirectSell715202665.0723,9001,555,173140,567,012Form
    4Casale, MarkChairman, CEO and PresidentDirectSell708202665.3529,3291,916,650142,733,745Form
    5Casale, MarkChairman, CEO and PresidentDirectSell708202665.081,24581,025144,052,758Form
    6Casale, MarkChairman, CEO and PresidentDirectSell702202665.013,763244,633143,978,752Form
    7Weinstock, David BSVP and CFODirectSell630202663.515,500349,3052,254,224Form
    8Casale, MarkChairman, CEO and PresidentDirectSell430202665.0513,064849,813144,312,124Form
    9Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell430202665.014,250276,29215,169,173Form
    10Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell421202663.017,628480,64014,970,294Form
    11Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell421202663.0087254,93615,448,482Form
    12Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell1222202567.004,352291,58415,939,032Form
    13Kasmar, Roy James Roy J. Kasmar Living Trust U/A DTD 07/31/1990Sell1118202561.443,250199,6801,448,325Form
    14Dutt, Aditya DirectSell1113202561.493,250199,8421,766,116Form
    15Bhasin, VijaySVP and Chief Risk OfficerDirectSell922202565.0011,479746,13512,799,930Form
    16Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell922202565.004,000260,00015,796,495Form
    17Weinstock, David BSVP and CFODirectSell917202563.332,500158,3251,574,700Form
    18Spiegel, William DirectSell814202562.746,451404,7361,647,050Form
    19Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell814202562.003,760233,12015,315,426Form
    20Gibbons, Mary LourdesSVP and Chief Legal OfficerDirectSell703202562.0024014,88015,548,546Form

    Investor Activity (13F)

    Updated Jul 22, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Renaissancere Holdings LTD$97.4 Mil24.0%5Hold13F
    Active Manager
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Renaissancere Holdings LTD$97.4 Mil24.0%5Hold13F

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