Essent Group Ltd. (ESNT) Balance Sheet
ESNT balance sheet, 2025
December 31, 2025 · U.S. dollars$7.44B assets = $1.68B liabilities + $5.76B equity
Both columns are drawn to the same scale: what ESNT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ESNT financial health
Descriptive bands, not a rating. Fiscal 2025.
ESNT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.88B2016 | $7.44B2025 | +16.5%/yr | |
| Total liabilities | $539.2M2016 | $1.68B2025 | +13.5%/yr | |
| Shareholders’ equity | $1.34B2016 | $5.76B2025 | +17.5%/yr | |
| Cash & short-term investments | $1.64B2016 | $6.23B2025 | +16.0%/yr | |
| Total debt | $100.0M2016 | $495.3M2025 | +19.5%/yr | |
| Net cash (debt) | $1.54B2016 | $5.73B2025 | +$4.2B | |
| Working capital | −$390.1M2016 | $5.65B2025 | +$6.0B | |
| Book value per share | $14.572016 | $57.552025 | +16.5%/yr | |
| Debt / equity | 0.072016 | 0.092025 | +0.01 | |
| Shares outstanding | 92.2M2016 | 100.0M2025 | +0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ESNT assets
ESNT liabilities and equity
ESNT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ESNT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $6.23B | $6.01B | $141.8M | $333.3M | $5.04B | $4.67B | $3.42B | $2.83B | $2.35B | $1.64B |
| Cash & equivalents | $123.0M | $131.5M | $141.8M | $81.2M | $81.5M | $102.8M | $71.3M | $64.9M | $43.5M | $27.5M |
| Short-term investments | $6.10B | $5.88B | $5.26B | $252.0M | $4.96B | $4.57B | $3.35B | $2.76B | $2.31B | $1.62B |
| Receivables | $98.6M | $55.6M | $63.3M | $57.4M | $46.2M | $50.1M | $40.7M | $36.9M | $29.8M | $21.6M |
| Inventory | $0 | $0 | −$5.47B | −$5.82B | −$1.09B | −$1.45B | −$933.9M | $0 | $0 | $0 |
| Other current assets | $513.4M | $533.3M | $5.47B | $5.82B | $1.09B | $1.45B | $933.9M | $0 | $0 | $0 |
| Total current assets | $6.84B | $6.60B | $205.1M | $390.7M | $5.09B | $4.72B | $3.46B | $101.8M | $73.3M | $49.2M |
| Property, plant & equipment (net) | $49.2M | $41.9M | $41.3M | $19.6M | $11.9M | $15.1M | $17.3M | $7.6M | $7.0M | $8.1M |
| Goodwill & intangible assets | $165.9M | $89.2M | $61.5M | $13.9M | $15.1M | $19.9M | $18.3M | $19.3M | $17.6M | $16.3M |
| Long-term investments | $6.10B | $5.88B | $5.54B | $4.74B | $4.96B | $4.67B | $3.45B | $2.81B | $2.32B | $1.62B |
| Other non-current assets | $0 | $0 | $577.9M | $558.0M | $0 | $0 | $0 | $212.6M | $258.6M | $184.8M |
| Total assets | $7.44B | $7.11B | $6.43B | $5.72B | $5.72B | $5.20B | $3.87B | $3.15B | $2.67B | $1.88B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $104.5M | $407.4M | $87.9M | $66.5M | $41.0M | $36.2M | $33.9M |
| Short-term debt | $6.0M | $5.9M | $5.3M | $4.3M | $3.3M | $321.7M | $224.2M | $223.7M | $248.6M | $100.0M |
| Deferred revenue | $91.7M | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $1.19B | $1.01B | $500.3M | $418.5M | $419.8M | $321.7M | $224.2M | $560.6M | $485.3M | $439.2M |
| Long-term debt | $495.3M | $494.0M | $0 | $0 | $0 | $321.7M | $224.2M | $223.7M | $248.6M | $100.0M |
| Other long-term liabilities | $0 | $0 | $853.5M | $843.0M | $419.8M | $305.1M | $249.6M | $0 | $0 | $0 |
| Total liabilities | $1.68B | $1.51B | $1.32B | $1.26B | $1.49B | $1.34B | $888.6M | $784.3M | $733.9M | $539.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.4M | $1.6M | $1.6M | $1.6M | $1.6M | $1.7M | $1.5M | $1.5M | $1.5M | $1.4M |
| Retained earnings (deficit) | $5.26B | $4.69B | $4.08B | $3.49B | $2.75B | $2.15B | $1.81B | $1.28B | $815.1M | $436.3M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$152.0M | −$304.0M | −$280.5M | −$382.8M | $50.7M | $138.3M | $56.2M | −$29.0M | −$3.3M | −$12.3M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $5.76B | $5.60B | $5.10B | $4.46B | $4.24B | $3.86B | $2.98B | $2.37B | $1.94B | $1.34B |
| Key figures | ||||||||||
| Total debt | $495.3M | $494.0M | $421.9M | $420.9M | $419.8M | $321.7M | $224.2M | $223.7M | $248.6M | $100.0M |
| Net cash (debt) | $5.73B | $5.51B | −$280.1M | −$87.6M | $4.62B | $4.35B | $3.20B | $2.60B | $2.10B | $1.54B |
| Working capital | $5.65B | $5.58B | −$295.2M | −$27.8M | $4.67B | $4.40B | $3.24B | −$458.8M | −$412.1M | −$390.1M |
| Tangible book value | $5.59B | $5.51B | $5.04B | $4.45B | $4.22B | $3.84B | $2.97B | $2.35B | $1.92B | $1.33B |
| Book value per share | $57.55 | $52.59 | $47.63 | $41.45 | $37.97 | $36.31 | $30.39 | $24.15 | $20.38 | $14.57 |
| Shares outstanding | 100.0M | 106.5M | 107.1M | 107.7M | 111.6M | 106.4M | 98.2M | 98.0M | 95.2M | 92.2M |
| Current ratio | 5.75 | 6.51 | 0.41 | 0.93 | 12.13 | 14.67 | 15.44 | 0.18 | 0.15 | 0.11 |
| Quick ratio | 5.32 | 5.98 | 0.41 | 0.93 | 12.13 | 14.67 | 15.44 | 5.11 | 4.90 | 3.79 |
| Debt / equity | 0.09 | 0.09 | 0.08 | 0.09 | 0.10 | 0.08 | 0.08 | 0.09 | 0.13 | 0.07 |
| Equity / assets | 77.4% | 78.8% | 79.4% | 78.0% | 74.0% | 74.2% | 77.1% | 75.1% | 72.6% | 71.4% |
| 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 | $6.11B | $6.18B | $6.23B | $6.18B | $6.06B | $6.09B | $6.01B | $6.06B | $5.65B | $5.53B | $141.8M | $5.09B |
| Cash & equivalents | $74.3M | $128.3M | $123.0M | $91.4M | $92.1M | $208.1M | $131.5M | $109.3M | $197.4M | $164.3M | $141.8M | $96.8M |
| Short-term investments | $6.04B | $6.05B | $6.10B | $6.09B | $5.97B | $5.88B | $5.88B | $5.95B | $5.45B | $5.37B | $5.26B | $5.00B |
| Receivables | $169.8M | $189.0M | $98.6M | $96.7M | $98.3M | $95.4M | $55.6M | $54.4M | $57.0M | $68.9M | $63.3M | $68.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$2.53B | −$4.11B | −$3.50B | −$5.47B | −$2.14B |
| Other current assets | $0 | $513.4M | $513.4M | $490.5M | $497.4M | $487.4M | $533.3M | $3.06B | $0 | $0 | $5.47B | $0 |
| Total current assets | $244.1M | $6.88B | $6.84B | $6.77B | $6.65B | $6.67B | $6.60B | $6.65B | $254.4M | $233.2M | $205.1M | $165.1M |
| Property, plant & equipment (net) | $47.8M | $48.3M | $49.2M | $50.0M | $42.4M | $43.2M | $41.9M | $41.2M | $42.9M | $43.8M | $41.3M | $40.7M |
| Goodwill & intangible assets | $146.3M | $212.5M | $165.9M | $87.7M | $88.1M | $88.9M | $89.2M | $79.4M | $61.1M | $63.3M | $61.5M | $54.9M |
| Long-term investments | $6.04B | $6.05B | $6.10B | $6.09B | $5.97B | $5.88B | $5.88B | $5.95B | $5.45B | $5.37B | $5.54B | $5.00B |
| Other non-current assets | $1.12B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $879.4M | $855.7M | $577.9M | $835.8M |
| Total assets | $7.59B | $7.57B | $7.44B | $7.35B | $7.22B | $7.20B | $7.11B | $7.13B | $6.69B | $6.56B | $6.43B | $6.09B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $241.3M |
| Short-term debt | — | — | $6.0M | — | — | — | $5.9M | — | $422.4M | $422.2M | $421.9M | $421.7M |
| Deferred revenue | — | $226.3M | $91.7M | $96.6M | $102.4M | $108.4M | — | — | — | — | — | — |
| Total current liabilities | $496.3M | $1.16B | $1.19B | $931.9M | $894.3M | $879.8M | $1.01B | $991.9M | $260.7M | $267.3M | $500.3M | $461.4M |
| Long-term debt | $496.0M | $495.6M | $495.3M | $495.0M | $494.6M | $494.3M | $494.0M | $493.7M | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.43B | $213.1M | $0 | $186.2M | $158.8M | $171.3M | $0 | $0 | $1.31B | $1.34B | $853.5M | $1.29B |
| Total liabilities | $1.93B | $1.87B | $1.68B | $1.61B | $1.55B | $1.55B | $1.51B | $1.49B | $1.31B | $1.34B | $1.32B | $1.29B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.3M | $1.4M | $1.4M | $1.5M | $1.5M | $1.5M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $5.55B | $5.40B | $5.26B | $5.13B | $5.00B | $4.83B | $4.69B | $4.55B | $4.41B | $4.23B | $4.08B | $3.93B |
| Accumulated other comprehensive income | −$190.7M | −$187.9M | −$152.0M | −$165.4M | −$215.7M | −$232.2M | −$304.0M | −$190.3M | −$307.6M | −$302.3M | −$280.5M | −$436.4M |
| Total shareholders' equity | $5.66B | $5.70B | $5.76B | $5.74B | $5.67B | $5.66B | $5.60B | $5.64B | $5.38B | $5.23B | $5.10B | $4.81B |
| Key figures | ||||||||||||
| Total debt | $496.0M | $495.6M | $495.3M | $495.0M | $494.6M | $494.3M | $494.0M | $493.7M | $422.4M | $422.2M | $421.9M | $421.7M |
| Net cash (debt) | $5.62B | $5.68B | $5.73B | $5.69B | $5.56B | $5.60B | $5.51B | $5.57B | $5.23B | $5.11B | −$280.1M | $4.67B |
| Working capital | −$252.2M | $5.71B | $5.65B | $5.84B | $5.76B | $5.79B | $5.58B | $5.66B | −$6.3M | −$34.1M | −$295.2M | −$296.3M |
| Tangible book value | $5.52B | $5.48B | $5.59B | $5.65B | $5.58B | $5.57B | $5.51B | $5.56B | $5.32B | $5.16B | $5.04B | $4.75B |
| Book value per share | $61.97 | $60.23 | $59.55 | $56.73 | $56.13 | $54.44 | $52.81 | $52.94 | $50.38 | $48.95 | $47.77 | $44.92 |
| Shares outstanding | 91.4M | 94.6M | 96.7M | 101.2M | 101.1M | 103.9M | 106.1M | 106.6M | 106.8M | 106.8M | 106.8M | 107.0M |
| Current ratio | 0.49 | 5.91 | 5.75 | 7.26 | 7.44 | 7.58 | 6.51 | 6.70 | 0.98 | 0.87 | 0.41 | 0.36 |
| Quick ratio | 12.66 | 5.47 | 5.32 | 6.74 | 6.88 | 7.03 | 5.98 | 6.16 | 21.90 | 20.96 | 0.41 | 11.19 |
| Debt / equity | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.08 | 0.08 | 0.08 | 0.09 |
| Equity / assets | 74.6% | 75.3% | 77.4% | 78.1% | 78.6% | 78.6% | 78.8% | 79.2% | 80.4% | 79.6% | 79.4% | 78.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
ESNT financial position
At the end of fiscal 2025 (December 31, 2025), Essent had total assets of $7.4 billion (up 4.6% from a year earlier), total liabilities of $1.7 billion and shareholders' equity of $5.8 billion. It held $6.2 billion in cash and short-term investments against $495.3 million of debt, a net cash position of $5.7 billion. Its current ratio was 5.75. In the latest quarter (ended June 30, 2026) total assets were $7.6 billion and equity $5.7 billion.
Related: ESNT income statement, ESNT cash flow statement, ESNT key metrics. See the ESNT stock overview for the latest quote and news.
ESNT balance sheet FAQ
What are Essent's total assets?
Essent reported total assets of $7.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.1 billion a year earlier.
How much debt does Essent have?
Essent had $495.3 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.09.
How much cash does Essent have?
Essent held $6.2 billion in cash and short-term investments at the end of fiscal 2025; with $495.3 million of debt that is net cash of $5.7 billion.
What is Essent's book value?
Essent's shareholders' equity (book value) was $5.8 billion at the end of fiscal 2025, or $57.55 per share.
What is Essent's current ratio?
Essent had current assets of $6.8 billion and current liabilities of $1.2 billion, a current ratio of 5.75 (it can cover its short-term obligations).
How much goodwill does Essent have?
Essent carried $165.9 million of goodwill and intangible assets, 2.2% of total assets, at the end of fiscal 2025.