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Enact Holdings, Inc. operates as a private mortgage insurance company in the United States. The company engages in writing and assuming residential mortgage guaranty insurance. It also offers private mortgage insurance products insuring prime-based, individually underwritten residential mortgage loans; pool mortgage insurance; contract underwriting services; and mortgage-related reinsurance products. The company serves large money center banks, non-bank lenders, national and local mortgage bankers, community banks, and credit unions. The company was formerly known as Genworth Mortgage Holdings, Inc. and changed its name to Enact Holdings, Inc. in May 2021. Enact Holdings, Inc. was founded in 1981 and is headquartered in Raleigh, North Carolina. Enact Holdings, Inc. is a subsidiary of Genworth Holdings Inc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | - | $674M | $725M | 12.6% | 2.8% | -2.0% |
| 2024 | $1.2B | - | $688M | $686M | 13.8% | 4.2% | 3.4% |
| 2023 | $1.2B | - | $666M | $632M | 14.4% | 5.4% | -5.5% |
| 2022 | $1.1B | - | $704M | $561M | 17.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,094.87 | 1,153.69 | 1,201.77 | 1,235.83 |
| Operating Revenue | - | 1,094.87 | 1,153.69 | 1,201.77 | 1,235.83 |
| Total Expenses | - | 196.65 | 302.18 | 323.71 | 376.99 |
| EBIT | - | 949.92 | 903.38 | 929.22 | 908.79 |
| Interest Expense | - | 51.70 | 51.87 | 51.16 | 49.95 |
| Net Interest Income | - | -51.70 | -51.87 | -51.16 | -49.95 |
| Other Income Expense | - | 2.31 | 3.26 | 3.91 | 5.44 |
| Interest Expense Non Operating | - | 51.70 | 51.87 | 51.16 | 49.95 |
| Net Non Operating Interest Income Expense | - | -51.70 | -51.87 | -51.16 | -49.95 |
| Pretax Income | - | 898.22 | 851.51 | 878.06 | 858.84 |
| Tax Provision | - | 194.06 | 186 | 189.99 | 184.59 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -2.36 | 0 |
| Net Income Continuous Operations | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Net Income From Continuing And Discontinued Operation | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Net Income From Continuing Operation Net Minority Interest | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Net Income | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Net Income Common Stockholders | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Net Income Including Noncontrolling Interests | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Normalized Income | - | 704.16 | 665.51 | 696.64 | 674.24 |
| Diluted NI Availto Com Stockholders | - | 704.16 | 665.51 | 688.07 | 674.24 |
| Basic Average Shares | - | 162.84 | 160.87 | 156.28 | 148.37 |
| Diluted Average Shares | - | 163.29 | 161.85 | 157.55 | 149.32 |
| Total Unusual Items | - | 0 | 0 | -10.93 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -10.93 | 0 |
| Earnings From Equity Interest Net Of Tax | 0 | - | - | - | - |
| Special Income Charges | - | 0 | 0 | -10.93 | 0 |
| Other Special Charges | - | - | - | 10.93 | - |
| Other Operating Expenses | 2.33 | -0.17 | - | 0.16 | - |
| Loss Adjustment Expense | - | -94.22 | 27.16 | 38.66 | 109.53 |
| Net Policyholder Benefits And Claims | - | -94.22 | 27.16 | 38.66 | 109.53 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Enact Holdings, Inc.this co. | ACT | $5.7B | 8.48↓ discount | 1.07 | 12.6% | - |
| StepStone Group Inc. | STEP | $5.8B | - | - | 129.6% | - |
| Ameris Bancorp | ABCB | $5.7B | 13.90 | 1.41 | 10.1% | - |
| Victory Capital Holdings, Inc. | VCTR | $5.6B | 16.82 | 2.29 | 13.6% | 11.02 |
| Atlantic Union Bankshares Corporation | AUB | $5.4B |
| - |
| - |
| - |
| - |
| - |
| 19.74 |
| 1.08 |
| 5.5% |
| - |
| Mercury General Corporation | MCY | $5.4B | 9.99 | 2.24 | 22.4% | - |
| MARA Holdings, Inc. | MARA | $5.3B | -4.04 | 1.52 | -37.8% | -15.34 |
| Piper Sandler Companies | PIPR | $5.2B | 18.51 | 3.80 | 20.5% | - |
| Moelis & Company | MC | $5.1B | 22.10 | 9.06 | 41.0% | 17.18 |
| Peer Median | - | 16.82 | 2.24 | 17.1% | 11.02 | |