Essent Group (ESNT) FY2022 results: revenue $1.0 billion, down 2.7% on the year
Essent Group Ltd. (ESNT) reported revenue of $1.0 billion for fiscal 2022, the year ended 31 December 2022, down 2.7% on the year before. Net income was $831 million, up 21.9%, and diluted earnings per share $7.72. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2023.
Revenue
$1.0 billion
-2.7% on the year
FY2015FY2022
Operating margin
98.7%
80.0% a year earlier
FY2015FY2022
Net income
$831 million
+21.9% on the year
FY2015FY2022
Diluted EPS
$7.72
+26.4% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
589
709
728
-17.0%
Capital expenditure
4.0
2.5
2.4
+59.4%
Free cash flow
585
707
725
-17.3%
Free cash flow margin
58.4%
68.7%
76.0%
Cash from investing
-399
-583
-1,154
Cash from financing
-190
-147
458
Depreciation and amortisation
3.0
3.4
3.3
-10.5%
Share-based compensation
18.4
20.8
18.5
-11.8%
Buybacks
97.9
164
6.4
-40.2%
Dividends paid
92.1
77.7
69.4
+18.5%
Dividend per share
$0.86
$0.70
$0.64
+22.9%
Diluted shares, weighted
108m
112m
106m
-3.5%
Shares outstanding at period end
108m
109m
112m
-1.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
4,462
4,236
3,863
+5.3%
Debt
425
425
325
0.0%
Other liabilities
836
1,061
1,015
-21.2%
Total liabilities and equity
5,724
5,722
5,203
+0.0%
Fixed assets
19.6
11.9
15.1
+64.2%
Goodwill
0.0
n/a
n/a
Securities held for sale or to maturity
4,742
4,963
4,565
-4.5%
Cash and equivalents
81.2
81.5
103
-0.3%
Other assets
881
666
519
+32.4%
Total assets
5,724
5,722
5,203
+0.0%
10-K for the year ended 31 December 2022, filed 17 February 2023: the filing.