Enact Holdings (ACT) Q4 FY2021 earnings: revenue $273 million

Enact Holdings, Inc. (ACT) reported revenue of $273 million for Q4 FY2021, the quarter ended 31 December 2021. Net income was $154 million, and diluted earnings per share $0.95. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue

$273 million

-2.7% on the quarter

Q3 FY2020Q4 FY2021

Operating margin

71.4%

Q3 FY2020Q4 FY2021

Net income

$154 million

+11.9% on the quarter

Q3 FY2020Q4 FY2021

Diluted EPS

$0.95

+13.1% on the quarter

Q3 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Revenue	273	280	n/a	-2.7%
Operating income	195	175	n/a	+11.6%
Operating margin	71.4%	62.3%	n/a
Interest expense	12.8	n/a	n/a
Pre-tax income	195	n/a	n/a
Income tax	41.3	n/a	n/a
Effective tax rate	21.2%	n/a	n/a
Net income	154	137	n/a	+11.9%
Net margin	56.3%	n/a	n/a
Diluted EPS	$0.95	$0.84	n/a	+13.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Operating cash flow	161	n/a	n/a
Cash from investing	13.5	n/a	n/a
Cash from financing	-200	n/a	n/a
Share-based compensation	1.3	n/a	n/a
Diluted shares, weighted	163m	163m	n/a	+0.0%
Shares outstanding at period end	163m	163m	n/a	0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Shareholders' equity	4,106	4,201	n/a	-2.3%
Debt	740	740	n/a	+0.1%
Other liabilities	1,020	n/a	n/a
Total liabilities and equity	5,866	n/a	n/a
Investments	0.0	n/a	n/a
Cash and equivalents	426	452	n/a	-5.7%
Other assets	5,440	n/a	n/a
Total assets	5,866	n/a	n/a

Questions

What was Enact Holdings' revenue in Q4 FY2021?

Enact Holdings (ACT) reported revenue of $273 million for Q4 FY2021, the quarter ended 31 December 2021.

How much did Enact Holdings earn in Q4 FY2021?

Net income for Q4 FY2021 was $154 million, and diluted earnings per share $0.95.

When did Enact Holdings report Q4 FY2021 results?

Enact Holdings filed its 10-K for the year that ended with the quarter on 28 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	273	270	274	275	277	281	278	299	296	292	299	310	302	307	305	311	313	312	317	313
Operating income	195	210	261	245	183	225	214	213	200	206	235	229	208	211	215	210	223	213	220	203
Operating margin	71%	78%	95%	89%	66%	80%	77%	71%	67%	71%	79%	74%	69%	69%	70%	67%	71%	68%	69%	65%
Interest expense	12.8	12.8	12.8	12.9	13.3	13.1	12.9	12.9	12.9	13.0	13.6	12.3	12.3	12.3	12.3	12.9	12.5	12.4	12.5	12.5
Pre-tax income	195	210	261	245	183	225	214	213	200	206	235	229	208	211	215	210	223	213	220	203
Tax rate	21%	22%	22%	22%	21%	22%	22%	23%	21%	22%	22%	21%	22%	22%	22%	22%	21%	21%	21%	22%
Net income	154	165	205	191	144	176	168	164	157	161	184	181	163	166	168	163	177	168	175	159
Net margin	56%	61%	75%	69%	52%	63%	61%	55%	53%	55%	61%	58%	54%	54%	55%	52%	57%	54%	55%	51%
Diluted EPS	$0.95	$1.01	$1.25	$1.17	$0.88	$1.08	$1.04	$1.02	$0.98	$1.01	$1.16	$1.15	$1.05	$1.08	$1.11	$1.10	$1.22	$1.18	$1.25	$1.15
Operating cash flow	161	161	141	100	158	119	168	155	190	187	145	188	166	227	120	192	186	224	119	184
Buybacks	n/a	0.0	0.0	0.0	1.5	22.2	41.2	6.3	18.0	49.7	48.6	71.0	74.6	65.3	84.6	106	127	93.2	93.3	118
Dividends paid	n/a	0.0	22.8	22.8	205	22.8	25.7	25.6	139	25.5	29.1	28.8	28.4	28.1	31.5	31.0	30.3	29.8	33.5	33.0
Shares outstanding	163m	163m	163m	163m	163m	162m	160m	160m	159m	158m	156m	154m	152m	151m	148m	146m	142m	140m	138m	136m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 28 February 2022: the filing.