Essent Group Ltd. (ESNT) Income Statement
ESNT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsESNT revenue and net income
Where ESNT's revenue goes
2025Each bar shows an amount and its share of revenue. ESNT kept 54.7% of revenue as net income.
ESNT profit margins
ESNT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.5% | +7.4% | +5.7% | +13.6% |
| Gross profit | −6.3% | −2.3% | +11.2% | +12.1% |
| Operating income | −3.9% | −6.0% | +10.9% | +13.7% |
| Net income | −5.4% | −6.0% | +10.8% | +15.9% |
| EPS (diluted) | +0.7% | −3.7% | +12.2% | +15.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ESNT quarterly EPS vs estimates
Essent beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 6, 2026 (estimate $1.89).
ESNT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.26B | $1.27B | $1.13B | $1.02B | $1.03B | $955.2M | $867.6M | $719.4M | $576.5M | $458.3M |
| Cost of revenue | $149.3M | $81.2M | $31.5M | −$174.7M | $31.1M | $301.3M | $33.0M | $11.6M | $27.2M | $130.9M |
| Gross profit | $1.11B | $1.19B | $1.10B | $1.19B | $997.5M | $653.9M | $834.6M | $707.8M | $549.3M | $458.3M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $129.9M | $136.4M | $114.9M | $100.3M | $101.3M | $93.1M | $93.7M | $90.1M | $91.0M | $84.0M |
| Total operating expenses | $289.7M | $330.4M | $276.5M | $204.9M | $175.1M | $163.8M | $175.5M | $161.1M | $150.7M | $146.4M |
| Operating income | $821.9M | $855.5M | $823.0M | $988.2M | $822.3M | $490.1M | $659.1M | $546.7M | $398.6M | $311.9M |
| Interest income | — | — | — | — | — | — | $10.2M | $10.2M | $5.2M | — |
| Interest expense | $32.7M | $35.3M | $30.1M | $15.6M | $8.3M | $9.1M | $10.2M | $10.2M | $5.2M | $426,000 |
| Income before taxes | $821.9M | $855.5M | $823.0M | $988.2M | $822.3M | $490.1M | $659.1M | $546.7M | $398.6M | $311.9M |
| Income taxes | $131.9M | $126.1M | $126.6M | $156.8M | $140.5M | $77.1M | $103.3M | $79.3M | $18.8M | $89.3M |
| Net income | $690.0M | $729.4M | $696.4M | $831.4M | $681.8M | $413.0M | $555.7M | $467.4M | $379.7M | $222.6M |
| EBITDA | $859.8M | $896.6M | $857.7M | $1.01B | $834.0M | $502.5M | $673.0M | $560.3M | $407.7M | $316.4M |
| EPS (diluted) | $6.89 | $6.84 | $6.50 | $7.71 | $5.65 | $3.88 | $5.65 | $4.76 | $3.10 | $2.42 |
| Gross margin | 88.2% | 93.6% | 97.2% | 117.2% | 97.0% | 68.5% | 96.2% | 98.4% | 95.3% | 100.0% |
| Operating margin | 65.2% | 67.5% | 72.8% | 97.0% | 80.0% | 51.3% | 76.0% | 76.0% | 69.1% | 68.1% |
| Net margin | 54.7% | 57.6% | 61.6% | 81.6% | 66.3% | 43.2% | 64.1% | 65.0% | 65.9% | 48.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $362.7M | $329.6M | $312.4M | $318.7M | $326.1M | $324.1M | $339.3M | $316.6M | $318.7M | $303.9M | $297.3M | $296.1M |
| Cost of revenue | $49.0M | $48.2M | $56.1M | $44.9M | $17.1M | $31.3M | $41.0M | $30.7M | −$334,000 | $9.9M | $19.6M | $10.8M |
| Gross profit | $313.7M | $281.4M | $256.3M | $273.8M | $309.0M | $292.8M | $298.3M | $285.9M | $319.0M | $294.0M | $277.6M | $285.3M |
| Sales, general & admin | $30.5M | $36.7M | $30.4M | $29.2M | $30.7M | $39.7M | $34.5M | $33.8M | $33.4M | $34.7M | $32.4M | $31.4M |
| Total operating expenses | $83.4M | $74.7M | $71.8M | $74.6M | $77.8M | $85.8M | $103.3M | $78.3M | $79.8M | $80.3M | $74.7M | $75.8M |
| Operating income | $230.3M | $206.7M | $184.5M | $199.2M | $231.2M | $207.0M | $194.9M | $207.6M | $239.2M | $213.7M | $203.0M | $209.4M |
| Interest expense | $8.1M | $8.1M | $8.1M | $8.3M | $8.1M | $8.1M | $8.2M | $11.5M | $7.8M | $7.9M | $8.0M | $7.9M |
| Income before taxes | $230.3M | $206.7M | $184.5M | $199.2M | $231.2M | $207.0M | $194.9M | $207.6M | $239.2M | $213.7M | $203.0M | $209.4M |
| Income taxes | $40.6M | $34.9M | $29.5M | $34.9M | $35.8M | $31.6M | $27.1M | $31.4M | $35.6M | $32.0M | $27.6M | $31.5M |
| Net income | $189.7M | $171.8M | $155.0M | $164.2M | $195.3M | $175.4M | $167.9M | $176.2M | $203.6M | $181.7M | $175.4M | $178.0M |
| EBITDA | $239.7M | $216.1M | $193.9M | $208.7M | $240.7M | $216.5M | $204.5M | $220.5M | $248.5M | $223.0M | $212.3M | $219.0M |
| EPS (diluted) | $2.08 | $1.82 | $1.60 | $1.67 | $1.93 | $1.69 | $1.58 | $1.65 | $1.91 | $1.70 | $1.64 | $1.66 |
| Gross margin | 86.5% | 85.4% | 82.1% | 85.9% | 94.8% | 90.3% | 87.9% | 90.3% | 100.1% | 96.7% | 93.4% | 96.3% |
| Operating margin | 63.5% | 62.7% | 59.1% | 62.5% | 70.9% | 63.9% | 57.5% | 65.6% | 75.1% | 70.3% | 68.3% | 70.7% |
| Net margin | 52.3% | 52.1% | 49.6% | 51.5% | 59.9% | 54.1% | 49.5% | 55.6% | 63.9% | 59.8% | 59.0% | 60.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ESNT's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ESNT financial results
In fiscal year 2025 (ended December 31, 2025), Essent reported revenue of $1.3 billion, down 0.5% from the year before. It had net income of $690.0 million (down 5.4%), a net profit margin of 54.7%. Diluted earnings per share came to $6.89. Over five years revenue grew at an average rate of 5.7% a year.
See the ESNT stock overview for the latest quote and news, or the ESNT chart for price history and technical indicators.
ESNT income statement FAQ
What is Essent's annual revenue?
Essent reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 0.5% from $1.3 billion the previous year.
Is Essent profitable?
Yes. Essent reported net income of $690.0 million in fiscal 2025, a net profit margin of 54.7%; its operating margin was 65.2%.
What is Essent's gross margin?
Essent's gross margin was 88.2% in fiscal 2025: for every $100 of revenue, Essent kept $88 after the direct cost of its products and services.
How fast is Essent growing?
Revenue grew 5.7% a year on average over the last five fiscal years, from $955.2 million to $1.3 billion.
What are Essent's earnings per share?
Essent earned $6.89 per diluted share in fiscal 2025, compared with $6.84 a year earlier.
When will Essent report its next earnings?
Essent is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 before the market opens.
When does Essent's fiscal year end?
Essent's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.