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Essent Group cash flow, quarter by quarter

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

Free cash flow$238M in Q3 2026 · $853M over twelve months

Operating cash flow$239M
Capital spending−$1.2M
Free cash flow+$238M
Cash / net income1.5×

Analysis

In Q3 2026, Essent Group generated $239M of operating cash flow and spent $1.2M on capital projects, leaving free cash flow of $238M. That is $27.3M more than in Q3 2025 ($211M).

Over the twelve months to Sep 30, 2026, operating cash flow was $857M; the largest uses were buybacks ($563M), dividends ($125M), other investing ($95.8M); the cash balance rose by $69.3M.

Operating cash flow was $239M against net income of $163M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets −$24.3M, accrued liabilities +$24.3M, receivables −$17.2M.

Free cash flow

Essent Group: free cash flow by quarterEssent Group: free cash flow by quarter$226MQ4 2024$221MQ1 2025$189MQ2 2025$211MQ3 2025$228MQ4 2025$191MQ1 2026$196MQ2 2026$238MQ3 2026
Operating cash flow less capital spending.
Essent Group: operating cash flow against capital spendingEssent Group: operating cash flow against capital spendingOperating cash flowCapital spending$227M$721KQ4 2024$222M$221KQ1 2025$190M$742KQ2 2025$216M$5.3MQ3 2025$229M$1.1MQ4 2025$192M$818KQ1 2026$197M$972KQ2 2026$239M$1.2MQ3 2026
Latest (Q3 2026): Operating cash flow $239M, Capital spending $1.2M.

Capital allocation, year by year

Essent Group: where the cash came from (up) and went (down), by fiscal yearEssent Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $709MFY2021: Net borrowing $100MFY2021: Capital spending −$2.5MFY2021: Buybacks −$164MFY2021: Dividends −$77.7M$809MFY2021FY2022: Operating cash flow $589MFY2022: Capital spending −$4.0MFY2022: Buybacks −$97.9MFY2022: Dividends −$92.1M$589MFY2022FY2023: Operating cash flow $763MFY2023: Capital spending −$4.0MFY2023: Acquisitions −$86.8MFY2023: Buybacks −$70.7MFY2023: Dividends −$106M$763MFY2023FY2024: Operating cash flow $862MFY2024: Net borrowing $73.2MFY2024: Capital spending −$6.8MFY2024: Buybacks −$112MFY2024: Dividends −$118M$935MFY2024FY2025: Operating cash flow $856MFY2025: Capital spending −$7.4MFY2025: Buybacks −$588MFY2025: Dividends −$122M$856MFY2025
Over these 5 years operating cash flow totalled $3.8B; the largest uses were buybacks ($1.0B) and dividends ($516M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$161M
Debtnone
Net cash$161M

Essent Group funds itself: free cash flow was $853M over the last twelve months, with $161M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Essent Group: sources (+) and uses (−) of cash, Q3 2026Essent Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$239MCash drawn (+) / kept (−)−$86.3MBuybacks−$74.5MOther investing−$45.9MDividends−$31.1MCapital spending−$1.2M
Essent Group: sources (+) and uses (−) of cash, TTM to Q3 2026Essent Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$857MBuybacks−$563MDividends−$125MOther investing−$95.8MCash drawn (+) / kept (−)−$69.3MCapital spending−$4.1M

From profit to cash

Essent Group: net income to operating cash flow, Q3 2026Essent Group: net income to operating cash flow, Q3 2026Net income$163MDepreciation & amortization$1.8MStock-based pay$2.9MDeferred taxes$4.1MReceivables−$17.2MAccrued liabilities$24.3MPrepaid and other assets−$24.3MOperating cash flow$239M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$239M−$1.2M−$74.5M−$31.1M−$86.3M$238M
Q2 2026$197M−$972K−$192M−$31.6M$53.9M$196M
Q1 2026$192M−$818K−$171M−$32.6M−$5.2M$191M
Q4 2025$229M−$1.1M−$126M−$29.5M−$31.6M$228M
Q3 2025$216M−$5.3M−$122M−$30.1M$705K$211M
Q2 2025$190M−$742K−$171M−$30.9M$116M$189M
Q1 2025$222M−$221K−$169M−$31.7M−$76.6M$221M
Q4 2024$227M−$721K−$66.3M−$29.4M−$22.2M$226M

Essent Group: income statement and cash flow

Essent Group, Q3 2026: revenue $374M (+20% year over year), operating margin 53.2%. The chart follows the revenue to costs, profit and cash.

Essent Group: 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.