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Insurance brokers · Financial Services · Fiscal year ends Dec 31
Enact reported revenue of $1.2B in the fiscal year ended Dec 2025, up 2.8% from the year before. Operating income was $909M, an operating margin of 73.5%, and net income was $674M. Net debt was $162M.
Ranks among the 15 insurance brokers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,118 | 1,095 | 1,154 | 1,202 | 1,236 |
| Selling, general & admin | 231 | 227 | 212 | 213 | 208 |
| Operating incomederived: pre-tax income + interest | 746 | 950 | 903 | 929 | 909 |
| Interest expense | 51.0 | 51.7 | 51.9 | 51.2 | 49.9 |
| Pre-tax income | 695 | 898 | 852 | 878 | 859 |
| Income tax | 149 | 194 | 186 | 190 | 185 |
| Net income | 547 | 704 | 666 | 688 | 674 |
| Diluted EPS | 3.36 | 4.31 | 4.11 | 4.37 | 4.52 |
| Diluted shares | 163 | 163 | 162 | 158 | 149 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 426 | 514 | 616 | 599 | 582 |
| Total assets | 5,866 | 5,709 | 6,190 | 6,522 | 6,893 |
| Long-term debt | 740 | 743 | 745 | 743 | 744 |
| Total liabilities | 1,760 | 1,608 | 1,558 | 1,525 | 1,538 |
| Shareholders' equity | 4,106 | 4,101 | 4,632 | 4,996 | 5,355 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 572 | 561 | 632 | 686 | 725 |
| Stock-based compensation | 1.5 | 9.9 | 15.3 | 18.8 | 19.0 |
| Share buybacks | 0.0 | 1.5 | 87.8 | 244 | 382 |
| Dividends paid | 200 | 251 | 213 | 112 | 121 |
| Dividend per share | – | 1.54 | 1.33 | 0.71 | 0.81 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −2.0% | 5.4% | 4.2% | 2.8% |
| Operating income growth (YoY) | – | 27.3% | −4.9% | 2.9% | −2.2% |
| EPS growth (YoY) | – | 28.3% | −4.6% | 6.3% | 3.4% |
| Operating margin | 66.8% | 86.7% | 78.3% | 77.3% | 73.5% |
| Net margin | 48.9% | 64.3% | 57.7% | 57.3% | 54.6% |
| Return on equityBlank when equity is negative | 13.3% | 17.2% | 14.4% | 13.8% | 12.6% |
| Cash conversion (CFO ÷ net income) | 1.05x | 0.80x | 0.95x | 1.00x | 1.07x |
| Interest cover | 14.6x | 18.4x | 17.4x | 18.2x | 18.2x |
| Debt ÷ equity | 0.18x | 0.18x | 0.16x | 0.15x | 0.14x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 315 | 229 | 130 | 144 | 162 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.