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Essent vs Mbia: revenue, profit, margins and growth compared

Essent brought in $1.3B of revenue in fiscal 2025, Mbia $80M in fiscal 2025. Revenue changed by +1.5% at Essent and +90.5% at Mbia on the year before, so Mbia grew faster. Essent kept 54.7% of its revenue as net profit, Mbia -221.3%.

Side by side, latest fiscal year

ESNTMBI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.3B$80M
Revenue growth+1.5%+90.5%
Net income$690M-$177M
Net margin54.7%-221.3%
Free cash flow$848.7Mn/a
Free cash flow margin67.3%n/a
Earnings per share (diluted)$6.90-$3.58
Cash$123M$71M
Debtn/an/a
Price to earnings9.2n/a
Market value$5.7B$224M
Dividend yield1.95%n/a
Rank by revenue in sector#172 of 444 · Finance#335 of 444 · Finance

Over the years

Revenue
ESNT FY2018: $719.4MESNT FY2019: $867.6MESNT FY2020: $955.2MESNT FY2021: $1BESNT FY2022: $1BESNT FY2023: $1.1BESNT FY2024: $1.2BESNT FY2025: $1.3BMBI FY2018: $317MMBI FY2019: $280MMBI FY2020: $282MMBI FY2021: $189MMBI FY2022: $154MMBI FY2023: $7MMBI FY2024: $42MMBI FY2025: $80MFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $1.3BMBI $80M
Net income
ESNT FY2018: $467.4MESNT FY2019: $555.7MESNT FY2020: $413MESNT FY2021: $681.8MESNT FY2022: $831.4MESNT FY2023: $696.4MESNT FY2024: $729.4MESNT FY2025: $690MMBI FY2018: -$296MMBI FY2019: -$359MMBI FY2020: -$578MMBI FY2021: -$445MMBI FY2022: -$195MMBI FY2023: $477MMBI FY2024: $435MMBI FY2025: -$177MFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $690MMBI -$177M
Net margin
ESNT FY2018: 65.0%ESNT FY2019: 64.1%ESNT FY2020: 43.2%ESNT FY2021: 66.3%ESNT FY2022: 83.1%ESNT FY2023: 62.8%ESNT FY2024: 58.7%ESNT FY2025: 54.7%MBI FY2018: -93.4%MBI FY2019: -128.2%MBI FY2020: -205.0%MBI FY2021: -235.4%MBI FY2022: -126.6%MBI FY2023: 6,814.3%MBI FY2024: 1,035.7%MBI FY2025: -221.3%FY18FY19FY20FY21FY22FY23FY24FY25
ESNT 54.7%MBI -221.3%
Revenue growth
ESNT FY2019: +20.6%ESNT FY2020: +10.1%ESNT FY2021: +7.7%ESNT FY2022: -2.7%ESNT FY2023: +10.9%ESNT FY2024: +12.0%ESNT FY2025: +1.5%MBI FY2019: -11.7%MBI FY2020: +0.7%MBI FY2021: -33.0%MBI FY2022: -18.5%MBI FY2023: -95.5%MBI FY2024: +500.0%MBI FY2025: +90.5%FY19FY20FY21FY22FY23FY24FY25
ESNT +1.5%MBI +90.5%
Free cash flow
ESNT FY2018: $621.3MESNT FY2019: $586.4MESNT FY2020: $725.5MESNT FY2021: $706.8MESNT FY2022: $584.8MESNT FY2023: $759MESNT FY2024: $854.8MESNT FY2025: $848.7MMBI FY2018: -$320MMBI FY2019: -$368MMBI FY2020: -$390MMBI FY2021: $510MMBI FY2022: -$418MMBI FY2023: -$195MFY18FY19FY20FY21FY22FY23FY24FY25
ESNT $848.7MMBI -$195M

Fiscal years as each company reports them; the two may end in different months.

Questions about Essent and Mbia

Which is bigger by revenue, Essent or Mbia?

Essent is bigger by revenue: $1.3B in fiscal 2025, against $80M for Mbia in fiscal 2025.

Which keeps more of its revenue as profit, Essent or Mbia?

Essent had a net margin of 54.7% in fiscal 2025; Mbia had -221.3% in fiscal 2025.

Which grew revenue faster, Essent or Mbia?

In their latest fiscal years revenue changed by +1.5% at Essent and +90.5% at Mbia.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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