Essent Group (ESNT) FY2021 results: revenue $1.0 billion, up 7.7% on the year
Essent Group Ltd. (ESNT) reported revenue of $1.0 billion for fiscal 2021, the year ended 31 December 2021, up 7.7% on the year before. Net income was $682 million, up 65.1%, and diluted earnings per share $6.11. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$1.0 billion
+7.7% on the year
FY2014FY2021
Operating margin
80.0%
51.3% a year earlier
FY2014FY2021
Net income
$682 million
+65.1% on the year
FY2014FY2021
Diluted EPS
$6.11
+57.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
709
728
590
-2.6%
Capital expenditure
2.5
2.4
3.4
+2.1%
Free cash flow
707
725
586
-2.6%
Free cash flow margin
68.7%
76.0%
67.6%
Cash from investing
-583
-1,154
-545
Cash from financing
-147
458
-38.4
Depreciation and amortisation
3.4
3.3
3.8
+1.5%
Share-based compensation
20.8
18.5
16.6
+12.9%
Buybacks
164
6.4
9.0
+2,478.8%
Dividends paid
77.7
69.4
29.3
+12.0%
Dividend per share
$0.70
$0.64
$0.30
+9.4%
Diluted shares, weighted
112m
106m
98m
+4.9%
Shares outstanding at period end
109m
112m
98m
-2.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,236
3,863
2,985
+9.7%
Debt
425
325
225
+30.8%
Other liabilities
1,061
1,015
664
+4.5%
Total liabilities and equity
5,722
5,203
3,873
+10.0%
Fixed assets
11.9
15.1
17.3
-21.0%
Investments
n/a
n/a
315
Securities held for sale or to maturity
4,963
4,565
n/a
+8.7%
Cash and equivalents
81.5
103
71.3
-20.8%
Other assets
666
519
3,469
+28.2%
Total assets
5,722
5,203
3,873
+10.0%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.