Enact Holdings, Inc. (ACT) Balance Sheet
ACT balance sheet, 2025
December 31, 2025 · U.S. dollars$6.89B assets = $1.54B liabilities + $5.36B equity
Both columns are drawn to the same scale: what ACT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ACT financial health
Descriptive bands, not a rating. Fiscal 2025.
ACT balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.10B2018 | $6.89B2025 | +7.7%/yr | |
| Total liabilities | $825.1M2018 | $1.54B2025 | +9.3%/yr | |
| Shareholders’ equity | $3.27B2018 | $5.36B2025 | +7.3%/yr | |
| Cash & short-term investments | $159.1M2018 | $582.5M2025 | +20.4%/yr | |
| Total debt | $46.8M2019 | $744.5M2025 | +58.6%/yr | |
| Net cash (debt) | $538.3M2019 | −$162.0M2025 | −$700.2M | |
| Working capital | −$222.7M2018 | $537.0M2025 | +$759.7M | |
| Book value per share | $20.102018 | $35.862025 | +8.6%/yr | |
| Debt / equity | 0.012019 | 0.142025 | +0.13 | |
| Shares outstanding | 162.8M2018 | 149.3M2025 | −1.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ACT assets
ACT liabilities and equity
ACT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ACT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $582.5M | $599.4M | $615.7M | $513.8M | $425.8M | $452.8M | $585.1M | $159.1M |
| Cash & equivalents | $582.5M | $599.4M | $615.7M | $513.8M | $425.8M | $452.8M | $585.1M | $159.1M |
| Short-term investments | $1.80B | $1.53B | $5.29B | $4.89B | $5.27B | $5.05B | $3.76B | $148.3M |
| Receivables | $46.1M | $53.0M | $45.1M | $41.7M | $42.3M | $46.5M | $41.2M | $40.0M |
| Inventory | $0 | $0 | −$5.95B | −$777.5M | −$739.2M | −$685.6M | −$650.4M | $0 |
| Other current assets | $0 | $0 | $5.95B | $777.5M | $739.2M | $685.6M | $650.4M | $0 |
| Total current assets | $628.6M | $652.5M | $660.8M | $555.5M | $468.1M | $499.3M | $626.2M | $199.1M |
| Property, plant & equipment (net) | $0 | $8.8M | $11.3M | $13.6M | $15.5M | $18.1M | $22.6M | $3.08B |
| Goodwill & intangible assets | $22.2M | $23.8M | −$448.8M | $12.4M | $14.7M | $28.9M | $30.3M | $28.1M |
| Long-term investments | $6.05B | $5.63B | $5.29B | $4.89B | $5.27B | $5.05B | $3.76B | $0 |
| Other non-current assets | $192.1M | $236.7M | $708.0M | $266.5M | $149.5M | $105.5M | $111.5M | $795.5M |
| Total assets | $6.89B | $6.55B | $6.22B | $5.74B | $5.91B | $5.70B | $4.56B | $4.10B |
| Liabilities | ||||||||
| Accounts payable | — | — | — | −$3.4M | $641.3M | — | — | — |
| Short-term debt | — | $3.9M | $3.8M | $3.4M | — | $51.5M | — | — |
| Deferred revenue | $91.6M | $114.7M | $149.3M | $202.7M | $246.3M | $306.9M | $383.5M | $421.8M |
| Total current liabilities | $91.6M | $118.6M | $153.1M | $206.2M | $246.3M | $358.4M | $383.5M | $421.8M |
| Long-term debt | $744.5M | $743.0M | $745.4M | $742.8M | $740.4M | $738.2M | $0 | $0 |
| Other long-term liabilities | $702.2M | $692.1M | $686.7M | $685.9M | $821.9M | $719.9M | $344.5M | $403.3M |
| Total liabilities | $1.54B | $1.55B | $1.59B | $1.63B | $1.81B | $1.82B | $728.0M | $825.1M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $1.4M | $1.5M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | — |
| Retained earnings (deficit) | $3.68B | $3.13B | $2.55B | $2.10B | $1.65B | $1.30B | $1.37B | $942.4M |
| Accumulated other comprehensive income | −$30.1M | −$207.5M | −$230.4M | −$382.7M | $83.6M | $208.4M | $93.4M | −$26.5M |
| Total shareholders' equity | $5.36B | $5.00B | $4.63B | $4.10B | $4.11B | $3.88B | $3.83B | $3.27B |
| Key figures | ||||||||
| Total debt | $744.5M | $760.3M | $768.7M | $771.3M | $775.8M | $775.5M | $46.8M | — |
| Net cash (debt) | −$162.0M | −$160.9M | −$153.0M | −$257.5M | −$350.0M | −$322.7M | $538.3M | — |
| Working capital | $537.0M | $533.9M | $507.6M | $349.4M | $221.8M | $140.9M | $242.8M | −$222.7M |
| Tangible book value | $5.33B | $4.97B | $5.08B | $4.09B | $4.09B | $3.85B | $3.80B | $3.25B |
| Book value per share | $35.86 | $31.71 | $28.62 | $25.11 | $25.21 | $23.84 | $23.50 | $20.10 |
| Shares outstanding | 149.3M | 157.6M | 161.8M | 163.3M | 162.9M | 162.8M | 162.8M | 162.8M |
| Current ratio | 6.86 | 5.50 | 4.31 | 2.69 | 1.90 | 1.39 | 1.63 | 0.47 |
| Quick ratio | 6.86 | 5.50 | 4.31 | 2.69 | 1.90 | 1.39 | 1.63 | 0.47 |
| Debt / equity | 0.14 | 0.15 | 0.17 | 0.19 | 0.19 | 0.20 | 0.01 | — |
| Equity / assets | 77.7% | 76.3% | 74.5% | 71.5% | 69.4% | 68.1% | 84.0% | 79.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $6.61B | $549.0M | $582.5M | $543.6M | $613.0M | $635.3M | $599.4M | $673.4M | $699.0M | $614.3M | $615.7M | $678.0M |
| Cash & equivalents | $448.4M | $549.0M | $582.5M | $543.6M | $613.0M | $635.3M | $599.4M | $673.4M | $699.0M | $614.3M | $615.7M | $678.0M |
| Short-term investments | $6.16B | $6.13B | $1.80B | $1.74B | $1.60B | $1.54B | $1.53B | $1.60B | $1.68B | $1.67B | $5.29B | $1.55B |
| Receivables | $66.7M | $47.4M | $46.1M | $48.6M | $44.1M | $46.5M | $53.0M | $48.8M | $48.7M | $43.9M | $45.1M | $44.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$6.09B | −$6.02B | −$5.95B | −$1.12B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.09B | $6.02B | $5.95B | $1.12B |
| Total current assets | $6.61B | $596.4M | $628.6M | $592.2M | $657.1M | $681.7M | $652.5M | $722.2M | $747.7M | $658.3M | $660.8M | $722.3M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $8.8M | $0 | −$24.6M | −$524.6M | $11.3M | −$25.6M |
| Goodwill & intangible assets | $22.2M | $0 | $22.2M | $22.5M | $22.9M | $23.3M | $23.8M | $24.2M | $24.6M | $24.9M | −$448.8M | $25.6M |
| Long-term investments | $6.21B | $6.13B | $6.05B | $6.07B | $5.90B | $5.82B | $5.63B | $5.65B | $5.34B | $5.36B | $5.29B | $5.01B |
| Other non-current assets | $0 | $231.8M | $192.1M | $191.2M | $193.7M | $197.4M | $236.7M | $196.7M | $258.0M | $784.1M | $708.0M | $269.5M |
| Total assets | $6.96B | $6.96B | $6.89B | $6.88B | $6.77B | $6.72B | $6.55B | $6.60B | $6.35B | $6.30B | $6.22B | $6.00B |
| Liabilities | ||||||||||||
| Short-term debt | — | — | — | — | — | — | $3.9M | — | — | — | $3.8M | — |
| Deferred revenue | $79.0M | $85.3M | $91.6M | $96.0M | $101.2M | $107.5M | $114.7M | $121.4M | $129.9M | $138.9M | $149.3M | $161.6M |
| Total current liabilities | $79.0M | $85.3M | $91.6M | $96.0M | $101.2M | $107.5M | $118.6M | $121.4M | $129.9M | $138.9M | $153.1M | $161.6M |
| Long-term debt | $745.2M | $744.9M | $744.5M | $744.1M | $743.8M | $743.4M | $743.0M | $742.7M | $742.4M | $746.1M | $745.4M | $744.8M |
| Other long-term liabilities | $815.4M | $788.3M | $702.2M | $719.0M | $705.4M | $751.2M | $692.1M | $696.7M | $651.3M | $704.9M | $686.7M | $637.1M |
| Total liabilities | $1.56B | $1.62B | $1.54B | $1.56B | $1.55B | $1.60B | $1.55B | $1.56B | $1.52B | $1.59B | $1.59B | $1.54B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.5M | $1.5M | $1.5M | $1.5M | $1.5M | $1.6M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $3.96B | $3.82B | $3.68B | $3.53B | $3.40B | $3.26B | $3.13B | $2.99B | $2.84B | $2.69B | $2.55B | $2.53B |
| Accumulated other comprehensive income | −$83.3M | −$82.7M | −$30.1M | −$41.8M | −$104.3M | −$152.5M | −$207.5M | −$102.0M | −$236.3M | −$237.5M | −$230.4M | −$400.3M |
| Total shareholders' equity | $5.40B | $5.34B | $5.36B | $5.32B | $5.22B | $5.12B | $5.00B | $5.04B | $4.83B | $4.71B | $4.63B | $4.46B |
| Key figures | ||||||||||||
| Total debt | $744.9M | $744.9M | $744.5M | $744.1M | $743.8M | $743.4M | $760.3M | $742.7M | $742.4M | $746.1M | $768.7M | $744.8M |
| Net cash (debt) | $5.87B | −$195.8M | −$162.0M | −$200.5M | −$130.8M | −$108.1M | −$160.9M | −$69.3M | −$43.3M | −$131.8M | −$153.0M | −$66.8M |
| Working capital | $6.53B | $511.2M | $537.0M | $496.2M | $555.9M | $574.2M | $533.9M | $600.8M | $617.9M | $519.4M | $507.6M | $560.7M |
| Tangible book value | $5.37B | $5.34B | $5.33B | $5.29B | $5.20B | $5.10B | $4.97B | $5.01B | $4.80B | $4.69B | $5.08B | $4.43B |
| Book value per share | $38.45 | $37.46 | $36.86 | $35.85 | $34.65 | $33.48 | $32.33 | $32.07 | $30.43 | $29.45 | $28.79 | $27.66 |
| Shares outstanding | 140.3M | 142.6M | 145.3M | 148.3M | 150.7M | 152.9M | 154.5M | 157.0M | 158.6M | 160.1M | 160.9M | 161.1M |
| Current ratio | 83.68 | 7.00 | 6.86 | 6.17 | 6.49 | 6.34 | 5.50 | 5.95 | 5.76 | 4.74 | 4.31 | 4.47 |
| Quick ratio | 84.52 | 7.00 | 6.86 | 6.17 | 6.49 | 6.34 | 5.50 | 5.95 | 5.76 | 4.74 | 4.31 | 4.47 |
| Debt / equity | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.17 | 0.17 |
| Equity / assets | 77.6% | 76.8% | 77.7% | 77.3% | 77.1% | 76.2% | 76.3% | 76.3% | 76.0% | 74.8% | 74.5% | 74.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
ACT financial position
At the end of fiscal 2025 (December 31, 2025), Enact had total assets of $6.9 billion (up 5.2% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $5.4 billion. It held $582.5 million in cash and short-term investments against $744.5 million of debt, net debt of $162.0 million. Its current ratio was 6.86. In the latest quarter (ended June 30, 2026) total assets were $7.0 billion and equity $5.4 billion.
Related: ACT income statement, ACT cash flow statement, ACT key metrics. See the ACT stock overview for the latest quote and news.
ACT balance sheet FAQ
What are Enact's total assets?
Enact reported total assets of $6.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.5 billion a year earlier.
How much debt does Enact have?
Enact had $744.5 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.14.
How much cash does Enact have?
Enact held $582.5 million in cash and short-term investments at the end of fiscal 2025; with $744.5 million of debt that is net debt of $162.0 million.
What is Enact's book value?
Enact's shareholders' equity (book value) was $5.4 billion at the end of fiscal 2025, or $35.86 per share.
What is Enact's current ratio?
Enact had current assets of $628.6 million and current liabilities of $91.6 million, a current ratio of 6.86 (it can cover its short-term obligations).
How much goodwill does Enact have?
Enact carried $22.2 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.