# Essent Group Ltd. (ESNT)

> Source: Nexqual · https://nexqual.com/ESNT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Essent Group Ltd. (ESNT), nexqual.com/ESNT" · informational, not investment advice.

**Price:** USD 65.7 (+2.62% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 64.02 · day 64.42–67.37 · 52w 55.34–70.37 · market cap $5.90B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.32B, net income $681M (51.5% margin), free cash flow $826M (SEC filings).
- Valuation: P/E 8.7x (avg 8.5x at the last 3 fiscal year-ends).
- Analysts: Hold (mean 2.50 on a 1–5 scale) (8 analysts), mean target USD 74 (range 66–80).
- Total return with dividends: 1Y +9.5% vs S&P 500 +14.9%; 5Y +47.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-06, EPS estimate USD 1.87, revenue estimate $364M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.03B | $1.00B | $1.11B | $1.24B | $1.26B | $1.32B |
| Net income | $682M | $831M | $696M | $729M | $690M | $681M |
| EPS (diluted) | $6.11 | $7.72 | $6.50 | $6.85 | $6.90 | — |
| Free cash flow | $707M | $585M | $759M | $855M | $849M | $826M |
| Net margin | 66.3% | 83.1% | 62.8% | 58.7% | 54.7% | 51.5% |
| Revenue growth | +7.7% | -2.7% | +10.9% | +12.0% | +1.5% | — |
| Cash + short-term investments | — | $81.2M | $142M | $131M | $123M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.7x · P/S 4.5x · P/FCF 7.1x · P/B 1.0x · FCF yield 13.99% · Earnings yield 11.53% · Dividend yield (paid, TTM) 2.10% · Buyback yield (TTM) 10.35%
P/E at fiscal year-ends: Dec 2025 9.4x, Dec 2024 8.0x, Dec 2023 8.1x.

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 8 analysts; mean target USD 74 (low 66, high 80).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | JP Morgan | Target lowered | Neutral | $72 → $66 |
| 2026-10-05 | Barclays | Target raised | Equal-Weight | $65 → $66 |
| 2026-08-10 | Roth Capital | Target raised | Buy | $65 → $80 |
| 2026-08-10 | RBC Capital | Target raised | Sector Perform | $68 → $75 |
| 2026-08-10 | Keefe, Bruyette & Woods | Target raised | Outperform | $74 → $78 |
| 2026-08-10 | Barclays | Target raised | Equal-Weight | $62 → $65 |
| 2026-07-13 | JP Morgan | Target raised | Neutral | $65 → $72 |
| 2026-06-25 | Keefe, Bruyette & Woods | Target raised | Outperform | $73 → $74 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +9.5% | +47.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +9.6% | +8.0% |
| Volatility (annualized) | 24.6% | 23.4% |
| Max drawdown | -16.8% (Sep 2026→Sep 2026) | -28.2% (Jan 2022→Sep 2022) |

## Peers (Insurance - Specialty)
MTG (MGIC Investment Corporation) USD 27.74 +1.57% · ACT (Enact Holdings, Inc.) USD 46.92 +2.78% · FAF (First American Corporation (New) USD 65.07 -2.09% · RDN (Radian Group Inc.) USD 34.7 +2.12% · AXS (Axis Capital Holdings Limited) USD 104.3 +3.71% · FNF (Fidelity National Financial, In) USD 41.38 +1.87%

## More
Full page: https://nexqual.com/ESNT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Mortgage Insurance | $273.9M | 75.5% | +1.8% |
| Reinsurance | $51.1M | 14.1% | +143.2% |
| Total revenue | $362.7M | 100% | — |
The lines above cover 89.6% of total revenue.

## Customer concentration

Period ended 2025-12-31: 19% of revenue from unnamed direct customers (10-K, filed 2026-02-18).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.87 | $1.82 | +2.6% | $364.3M | 7 |
| Next quarter (ends 2026-12-31) | $1.86 | $1.84 | +0.8% | $373.5M | 7 |
| Current fiscal year (ends 2026-12-31) | $7.58 | $7.22 | +5.0% | $1.36B | 7 |
| Next fiscal year (ends 2027-12-31) | $7.90 | $7.67 | +3.0% | $1.42B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-06): ±7.7%; last 8 reports averaged ±2.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 33.5% | ±7.7% |
| 2027-01-15 | 84 | 28.2% | ±10.8% |
| 2027-04-16 | 175 | 24.9% | ±13.7% |