Essent Group Ltd. Earnings Per Share Disclosure
| (In thousands, except per share amounts) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income | $ | 689,969 | $ | 729,403 | $ | 696,386 | ||||||||||||||
| Basic weighted average shares outstanding | 98,999 | 105,394 | 106,222 | |||||||||||||||||
| Dilutive effect of nonvested shares | 1,024 | 1,156 | 907 | |||||||||||||||||
| Diluted weighted average shares outstanding | 100,023 | 106,550 | 107,129 | |||||||||||||||||
| Basic earnings per share | $ | 6.97 | $ | 6.92 | $ | 6.56 | ||||||||||||||
| Diluted earnings per share | $ | 6.90 | $ | 6.85 | $ | 6.50 | ||||||||||||||
2025 Performance-Based Grants | 2024 Performance-Based Grants | 2023 Performance-Based Grants | 2022 Performance-Based Grants | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, | Percent Issuable Relative to Target | As a Percent of Shares Issued | Percent Issuable Relative to Target | As a Percent of Shares Issued | Percent Issuable Relative to Target | As a Percent of Shares Issued | Percent Issuable Relative to Target | As a Percent of Shares Issued | ||||||||||||||||||||||||||||||||||||||||||
2025 | 200% | 100% | 134% | 67% | 193% | 96.5% | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||
2024 | 100% | 50% | 174% | 87% | 168% | 84% | ||||||||||||||||||||||||||||||||||||||||||||
2023 | 200% | 100% | 200% | 100% | ||||||||||||||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 20, 2018 | |
| 2016 | Feb 16, 2017 | |
| 2015 | Feb 29, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.