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Enact Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$184M in Q3 2026 · $713M over twelve months

Operating cash flow$184M
Free cash flow+$184M
Cash / net income1.2×

Analysis

In Q3 2026, Enact Holdings generated $184M of operating cash flow. That is $8.1M less than in Q3 2025 ($192M).

Over the twelve months to Sep 30, 2026, operating cash flow was $713M; the largest uses were buybacks ($431M), other investing ($184M), dividends ($127M); the cash balance fell by $39.0M.

Operating cash flow was $184M against net income of $159M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: gains on investments +$6.0M, stock-based pay +$4.7M, other liabilities +$3.6M.

Free cash flow

Enact Holdings: free cash flow by quarterEnact Holdings: free cash flow by quarter$166MQ4 2024$227MQ1 2025$120MQ2 2025$192MQ3 2025$186MQ4 2025$224MQ1 2026$119MQ2 2026$184MQ3 2026
Operating cash flow less capital spending.
Enact Holdings: operating cash flow against capital spendingEnact Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$166M$0Q4 2024$227M$0Q1 2025$120M$0Q2 2025$192M$0Q3 2025$186M$0Q4 2025$224M$0Q1 2026$119M$0Q2 2026$184M$0Q3 2026
Latest (Q3 2026): Operating cash flow $184M, Capital spending $0.

Capital allocation, year by year

Enact Holdings: where the cash came from (up) and went (down), by fiscal yearEnact Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingBuybacksDividendsFY2021: Operating cash flow $572MFY2021: Dividends −$200M$572MFY2021FY2022: Operating cash flow $561MFY2022: Buybacks −$1.5MFY2022: Dividends −$251M$561MFY2022FY2023: Operating cash flow $632MFY2023: Buybacks −$87.8MFY2023: Dividends −$213M$632MFY2023FY2024: Operating cash flow $686MFY2024: Net borrowing $750MFY2024: Buybacks −$244MFY2024: Dividends −$112M$1.4BFY2024FY2025: Operating cash flow $725MFY2025: Buybacks −$382MFY2025: Dividends −$121M$725MFY2025
Over these 5 years operating cash flow totalled $3.2B; the largest uses were dividends ($897M) and buybacks ($716M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$550M
Debt$746M
Net debt$196M

Enact Holdings funds itself: free cash flow was $713M over the last twelve months, and $550M of cash and investments stands against $746M of debt.

Where the cash came from and went

Enact Holdings: sources (+) and uses (−) of cash, Q3 2026Enact Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$184MBuybacks−$118MCash drawn (+) / kept (−)−$56.2MDividends−$33.0MOther investing$23.3MOther financing−$108K
Enact Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Enact Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$713MBuybacks−$431MOther investing−$184MDividends−$127MCash drawn (+) / kept (−)$39.0MOther financing−$9.3M

From profit to cash

Enact Holdings: net income to operating cash flow, Q3 2026Enact Holdings: net income to operating cash flow, Q3 2026Net income$159MStock-based pay$4.7MDeferred taxes−$3.3MGains on investments$6.0MPrepaid and other assets−$2.4MOther liabilities$3.6MOperating cash flow$184M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$184M−$118M−$33.0M−$56.2M$184M
Q2 2026$119M−$93.3M−$33.5M$101M$119M
Q1 2026$224M−$93.2M−$29.8M$33.5M$224M
Q4 2025$186M−$127M−$30.3M−$38.9M$186M
Q3 2025$192M−$106M−$31.0M$69.4M$192M
Q2 2025$120M−$84.6M−$31.5M$22.3M$120M
Q1 2025$227M−$65.3M−$28.1M−$35.8M$227M
Q4 2024$166M−$74.6M−$28.4M$73.9M$166M

Enact Holdings: income statement and cash flow

Enact Holdings, Q3 2026: revenue $313M (+0.4% year over year), operating margin 64.9%. The chart follows the revenue to costs, profit and cash.

Enact Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.