Enact Holdings (ACT) FY2024 results: revenue $1.2 billion, up 4.2% on the year

Enact Holdings, Inc. (ACT) reported revenue of $1.2 billion for fiscal 2024, the year ended 31 December 2024, up 4.2% on the year before. Net income was $688 million, up 3.4%, and diluted earnings per share $4.37. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.

Revenue

$1.2 billion

+4.2% on the year

FY2019FY2024

Operating margin

73.1%

73.8% a year earlier

FY2019FY2024

Net income

$688 million

+3.4% on the year

FY2019FY2024

Diluted EPS

$4.37

+6.3% on the year

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,202	1,154	1,095	+4.2%
Selling, general and administrative	213	212	227	+0.4%
Operating income	878	852	898	+3.1%
Operating margin	73.1%	73.8%	82.0%
Interest expense	51.2	51.9	51.7	-1.4%
Pre-tax income	878	852	898	+3.1%
Income tax	190	186	194	+2.1%
Effective tax rate	21.6%	21.8%	21.6%
Net income	688	666	704	+3.4%
Net margin	57.3%	57.7%	64.3%
Diluted EPS	$4.37	$4.11	$4.31	+6.3%

$ million except per share.

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	FY2024	FY2023	FY2022	On the year
Operating cash flow	686	632	561	+8.6%
Cash from investing	-321	-229	-220
Cash from financing	-382	-301	-252
Share-based compensation	18.8	15.3	9.9	+22.9%
Buybacks	244	87.8	1.5	+178.0%
Dividends paid	112	213	251	-47.5%
Dividend per share	$0.71	$1.33	$1.54	-46.2%
Diluted shares, weighted	158m	162m	163m	-2.7%
Shares outstanding at period end	152m	159m	163m	-4.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	4,996	4,632	4,101	+7.9%
Debt	743	745	743	-0.3%
Other liabilities	782	813	865	-3.7%
Total liabilities and equity	6,522	6,190	5,709	+5.3%
Investments	3.4	20.2	3.0	-83.3%
Cash and equivalents	599	616	514	-2.6%
Other assets	5,919	5,555	5,192	+6.6%
Total assets	6,522	6,190	5,709	+5.3%

10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.